Marketing Words

Words are at the heart of almost every form of marketing.. Choose words carefully, and sales will follow. Make the wrong choices, and customers will tune you out.

Check this list of the most overused words eroding the quality of today's marketing.

1. Care: "We care," "caring for you" and "from people who care" are all versions of the same weak promise. Typically, you'll find these phrases in health-care, insurance and financial marketing. They prompt prospects to wonder how the promise will benefit them and in what ways this caring attitude is manifested. But because the word itself is so overused, prospects may not pay attention long enough to learn the answer.

2. Solutions: The great love of technology marketers, this word has been beaten to death. So many companies promise to have the solution that the word is no longer credible. Since most customers or clients believe their challenges are unique, it's hard for them to specifically imagine how these solutions will be delivered without lots of additional information from the advertiser.

3. Results: Though not truly a naughty word, results has been overused and represents a highly general, fairly toothless promise. When confronted with the promise of results, most prospects will want proof. So if you choose to use this word, be prepared with testimonials and other support.

4. Amazing: How many "amazing" breakthroughs have you seen advertised today? Are most of them really amazing? Probably not. This superlative makes something sound too good to be true. Use it with caution and be ready to back it up with plenty of details.

5. Needs: It seems like every advertiser these days promises to meet our needs. But most are short on specifics. This tired promise elicits a ho-hum response because we already expect the things we buy to meet our needs. Why else would we buy them? Strengthen your selling proposition by detailing how your product or service will do a better job of meeting needs than what your competitors offer.

6. Quality: Just as we expect products and services to meet our needs, we also expect high-quality merchandise. Consumers believe quality should be a given. What makes your product of higher quality than others? Tell consumers the ways you ensure quality, and you'll put some teeth into this bland promise.

7. Turnkey: Marketing that promises a "turnkey solution" is likely to be met with skepticism mixed with a touch of fear over the prospective loss of control it suggests. Prospects must trust that your company will provide stellar performance every step of the way. That makes it essential to use specifics and take sufficient space or time to tell a complete story.

8. #1: It seems everyone is claiming to be No. 1 at something. Whether it's price, delivery, convenience or savings, marketers are claiming number-one status with very little proof. And that has damaged the effectiveness of this claim. Plus, being No. 1 is all about you and not about the advantages you provide to the customer. Use words that specifically detail how your number-one status translates into a higher value for the customer, and everyone wins.

(Source: Entrepreneur, July 2008)

An Aging Workforce

An Aging Workforce (“The Brain Drain”)

Take a look at these statistics about the Aging Workforce:


The percentage of U.S. workers 55 and older is rising

2006 16.8%
2016 22.7%

While likely successors will be on the decline in the next eight years

Age 55.64 +30.3%*
Age 35-44 -5.5%*
Age 16-24 -1.1%*

Projected percentage growth or decline 2006-2016
Source: U.S. Bureau of Labor Statistics

Few managers have taken steps to retain professionals nearing retirement age. These are some of the methods that progressive managers have established to cope with the Aging workforce:

Flex schedules 19%
Part-time options 12%
Contracting retired employees 9%
Bonuses for staying on 8%
Delayed retirement plans 4%
No steps taken 60%
Source: Survey of 233 professionals May-June 2007

Based on the above statistics, it has become clear that growth in the number of older workers will soon surpass growth in the number of those just starting out. In particular, in my field of Information Technology, there has not been an influx of new talent. According to the Computing Research Association, computer science enrollment dropped 14% each year between 2004 and 2006.

But, in a survey conducted by Buck Consultants, only 42%of the respondents said that the aging workforce was a significant issue. So it seems that many businesses are content to watch their boomers leave the company.

Some companies, however, are taking steps to capturing the knowledge that is lost when the boomers leave the company. For example, Tennessee Valley Authority realized that 30 to 40 % of its workforce would retire over the next five years so it developed a process to determine which employees possessed unique, undocumented knowledge; to assess the risk or losing that knowledge; and to find ways to capture it through retention, documentation, mentoring, training and the sharing of expertise.

One of the most important things is to assess the value of the knowledge and skills that are walking out the door. Then build a database to capture documentation and lessons learned. A powerful tool is to offer long time staffers new challenges, new benefits and new roles to keep them longer and available to transfer knowledge about their job. Another is to involve older workers in mentoring younger workers to make knowledge sharing a priority.

Obviously, it is clearly important for managers to assess the value of the knowledge and skills that could be walking out the door and do something about retaining the aging employees and developing plans to capture their knowledge before it is disappears into retirement.

Funny ads

http://www.youtube.com/watch?v=PRiYkwtBK34

Podcasts

A podcast is a series of digital-media files distributed over the Internet using syndication feeds for playback on portable media players and computers. The host or author of a podcast is often called a podcaster.

Though podcasters' web sites may also offer direct download or streaming of their content, a podcast is distinguished from other digital media formats by its ability to be syndicated, subscribed to, and downloaded automatically when new content is added, using an aggregator or feed reader capable of reading feed formats such as RSS or Atom.

http://www.jobdig.com/podcast/listen.php?180 is an excellent site containing a series of management podcasts. Just click the "Hideout XSPF Music Play" toolbar to activate. The site hosts a variety of Podcasts dealing with many management issues, such as delegation, providing feedback, communications, etc. Take a listen.

Economic Indicators-Federal Reserve Beige Book

ECONOMIC INDICATORS-

Beige Book Fed Survey

Officially known as the Survey on Current Economic Conditions, the Beige Book, is published eight times per year by a Federal Reserve Bank, containing anecdotal information on current economic and business conditions in its twelve District through reports from Bank and Branch directors, and interviews with key business contacts, economists, market experts, and other sources.

The Beige Book highlights the activity information by District and sector. The survey normally covers a period of about 4- weeks in duration, and is released two weeks prior to each Federal Open Market Committee (FOMC) meeting, which is also held eight times per year. While considered by some as a lagging report, (Lagging indicators demonstrate how well an economy has performed in the past few months, giving economists a chance to review their predictions and make better forecasts). The Beige Book has usually served as a helpful indicator to FOMC policy decisions on monetary policy.

Reports from the twelve Federal Reserve Districts as of April 16, 2008 indicate that economic conditions have weakened since the last report. Nine Districts noted slowing in the pace of economic activity, while the remaining three--Boston, Cleveland, and Richmond--described activity as mixed or steady.

Go to the site: http://www.federalreserve.gov/fomc/beigebook/2008/20080416/default.htm for more detail on the current economic situation in the twelve districts (Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St.Louis, Minneapolis, Kansas City, Dallas and San Francisco.)

Some simple ways to reduce workplace stress

Here is a list of ways to reduce job-related stress.

1. Build co-worker relationships. Wiki's are an effective tool for coordination and relationship building.

2. Set realistic deadlines. Gantt or Pert charts help schedule and manage projets.

3. Act immediately with problems. Distinguish between a symptom and a problem. For example, declining sales could be a symptom of poor product quality, or poor marketing and product distribution.

4. Take short breaks.

5. Talk openly with management about issues.

Please add any others in your "comments" that you found to be effective.