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TUESDAY OCTOBER 2, 2012                                                       A WEEKLY E-NEWSLETTER COMPILED BY SAM GEIST

MARKETPLACE LESSONS

I've always believed that we learn from those around us... if we allow ourselves to open our minds to the ideas, experiences and suggestions of others.  Especially in our business world we can't possibly know everything.

A family friend started a tai chi program about a year ago.  She enjoyed the classes so much that she structured her very busy day around her 6 am class, so she wouldn't miss a session.  She arrived at work more focused. She was ready to tackle the obstacles of the day with the conviction that she could find appropriate solutions to her workday challenges.

When we were out for dinner last week I asked her what she had learned from tai chi.  She replied that her practice taught her to take her concentration with her to work.  She applied the focus she maintained for one hour each morning to her job all day.  She remarked that she was much more productive and actually felt calm at the end of the day.

Her example also reminded me that each of us has the opportunity to seek out new learning from wherever we may find it and then use it wisely.

 LESSON LEARNED:
 "Research shows that 90% of what we learn is from outside our business."
 

--Sam Geist

THE STATS

According to this study, customer retention has become more difficult and building customer loyalty is challenging for retailers in today's marketplace.
The following are the most frequently-cited marketing business challenges among respondents.
  • 52%, customer retention has become more difficult and building customer loyalty is challenging
  • 47%, the uncertain economy constrains our marketing budget
  • 41%, customer segments are fragmenting, making it harder to reach our consumers
  • 31%, competitors can see and copy innovations too easily
  • 29%, too many communications channels have unproven effectiveness
  • 28%, we can't keep up with all the new ways to engage with customers
  • 23%, it's hard to differentiate our brand from our competition
  • 13%, customers pushback against the amount of information we collect about them.
--MarketingCharts

To read a related article on leaders' responsibilities to lead effectively see first SITE SEEING link below.

  

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A survey of senior marketers reveals that strengthening social media is their agenda to better online consumer relationships.
  • 40% of responding companies indicated that strengthening social media is on the CEO's agenda
  • 60% indicated that strengthening social media is a top marketing priority
  • 78% believe that social media efforts enhance their marketing effectiveness 
  • 95% expect to invest more in social media
  • 66% of responding companies dedicate 5% or less of their digital marketing spending to social media today
  • 56% of responding companies expect to spend 10% or more of their digital marketing budgets on social media within 3 years
  • 28% expect the figure to exceed 20%. 
--strategy+business

To read the report which includes these stats see second SITE SEEING link below.

THE QUOTES
  
 
"Courage is what it takes to stand up and speak, it's also what it takes to sit down and listen." 

--Winston Churchill,
(1874-1965), British politician and prime minister, statesman

 

 
A comment from a former employee to his boss:
"When I worked for you, I thought I was Superman. I have occasionally reflected on why that was. Not sure I know all the answers, but the things I do know are that the environment was real, the energy was high, and the crap was low."
 
--Sent to Patty Azzarello, Author


To read the article that contains this quote see first SITE SEEING link below.

  

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Click
here for a preview of

"Doing More With
What You've Got"
A New Program on Managing in
Challenging Times

We'd love to hear from you.
Please email your
comments or suggestions to
[email protected]

SITE SEEING


Read how to make your employees feel like superheroes.
http://www.fastcompany.com/3001328/how-make-your-employees-feel-superheroes?partner

Read why senior marketers are scaling up social media.
http://m.strategy-business.com/article/00130?gko=51a51
Connect with Sam Geist

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Reproduction for publication is encouraged with the following attribution:
From "QuickBites," by Sam Geist.  (800) 567-1861     http://www.samgeist.com 

Sam Geist lectures, facilitates workshops and conducts training seminars on sales & marketing, the changing marketplace, leadership, differentiation, customer service and staff motivation.  His three books, "Why Should Someone Do Business With You... Rather Than Someone Else?" "Would You Work for You?" and "Execute... or Be Executed" are available in bookstores everywhere, published by Addington & Wentworth Inc.

 

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