Archive for the ‘Marketing’ Category
The Quality of Your Product Doesn’t Matter (That Much)
Now I don’t like this fact.
By Darren Hardy
I would philosophically argue against this fact. But it is a fact… and the evidence is all around us.
Who makes the best-tasting hamburger in the world? Doubtful you’d anoint McDonald’s with that title, but they outsell everyone else by many billions of dollars.
What is the best wine in the world? Certainly Franzia (which comes in a box!) wouldn’t be your first or 100th guess, but it is the best selling.
What is the highest-quality bottled water? If you tested it, it certainly wouldn’t be Aquafina (owned by www.PepsiCo.com), Dasani (owned by www.CocaCola.com) or Poland Spring (owned by www.NestleWaters.com), but those are the number 1, 2 and 3 best selling.
Nine times out of 10 it is not the best or highest-quality clothing line, automobile, restaurant, CPA firm, real estate agent, lawyer, furniture manufacturer, refrigerator, etc. that sells the most or becomes the biggest—it is the ones who market themselves the best.
This is the business axiom that I witness all around me every day:
The ultimate success of a product or service is 10% the quality of the product and 90% the quality of the marketing.
Now while I don’t necessarily LIKE that fact, as I believe the success of a product or service should be what’s most important and it should stand ENTIRELY on the value it delivers, that is just not how it works in reality.
Even if you are simply an individual in a sales organization this is true. It is not necessarily the best, the highest quality, highest class, most refined people that make it to the top… it is the ones who market themselves, network themselves, position themselves with credibility amongst their peers and demonstrate their growing and developing selves to the circle around them that end up at the top of the sales organization.
Now, let me also add this: If your product or service is bad… or even if you are bad, unethical or without integrity, no amount of marketing will make you or your product or service successful—especially in this day and age of Yelp, Twitter, Facebook and Google. You and your product or service reputation will die a certain and expedient viral death.
Here is a not so funny (literally) great example of this: When the greatly anticipated and greatly marketed movie, coming off the hit Borat by Sacha Baron Cohen, called Bruno was released; it had one of the biggest first day attendance statistics ever. But then people walked out of the theatre and Facebooked, Twittered, blogged to their friends how bad the movie was… the movie died that very day.
So the lesson is, yes you must create a high-value, quality product or service, but even more important to the ultimate success of it will be determined by how well it is marketed. Don’t forget to see the last 90% of the way through to success.
Even though I lack personal experience, I equate it to giving birth to a child. It takes nine months to gestate a child, which is like product development. But when the child is actually born you don’t just set it on the shelf and hope for the best. No, 90% of developing a successful child happens after birth. This is also the ratio of marketing to product development to create a successful product or service (loose analogy I admit, but gives you the picture nonetheless!).
For our August issue of our SUCCESS Audio Series (private SUCCESS partner product—not available for public sale) I interviewed two of today’s marketing wizards—Jay Abraham and Frank Kern. Let me pass on a couple of key tips they shared with me for your (free!) benefit:
1. The heart is closer to the wallet than the head is.
Right now write out a one- or two-sentence description of what you sell (pause your reading now). Is your description a solution… is it an emotional outcome? Or is what you wrote more of a description of your product or a functional benefit?
Peter Drucker said, “People buy with their hearts, not their minds”.
So, is your description trying to appeal to a prospect’s head or heart? Gotta redirect your efforts to the heart.
Homework: Write out the three most important solutions or emotional outcomes your product or service produces and start clarifying and focusing your messaging around that language.
2. Extra! Extra! Read all about it!
Now turn your emotional description into an irresistible headline. This alone could improve your results—not by 10%, 25% or 50%, but by 3, 5 or 10 times. Not just the headline as in a print ad, banner ad, Google Adword or even email. This headline is the attention-getter in every form of communication—prospecting call, sales presentation or stage presentation you do. The response to your headline needs to be: That’s me or… that’s what I need or… I’ve gotta to know what that is… NOT… So what?
Homework: Fashion three sensational headlines that fit your product, service, company, opportunity or presentation.
3. Results in Advance.
How can you help prospects in advance of them actually purchasing or paying for your product or service or getting into your business? What can you give them or help them with? Maybe it is as simple as education, research, a valuable report, connection to resources or other people, a tip from someone else in their industry, etc.
Homework: Think of three ways you can help your prospective clients get results in advance of them even purchasing your product—in a way that will make them want to come to you begging to buy because you have been so valuable in helping them get results—in advance.
Okay, your turn. Contribute one or two great marketing ideas that you have proven to work in the comments below. Can’t wait to read!
A 31-Year Look at Mark Parker’s Nike Career
Over the Years……
By: Fast Company StaffSeptember 1, 2010
Photographs Courtesy of Nike 1979
Mark Parker joins Nike as a footwear designer and product tester.
1980 Revenue $270 Million
1980
Nike goes public. B shares set at $22, close at $23.
1981
Parker moves from the R&D facility in New Hampshire to Oregon HQ as director of design concepts and engineering.
Parker designs the Odyssey, a running shoe focused on stability.
1982
Parker’s Pegasus hits the market. The line, including 2009′s Air Pegasus 26+, is still Nike’s most popular running shoe.
1986
Parker and Tinker Hatfield work on the first cross-training shoe. John McEnroe tries a prototype and wears the cross-trainer for the rest of his career.
1987
The Visible Air technology, patented in Parker’s name, debuts. More than 600,000 pairs of the Air Max alone are sold.
1988
Parker becomes VP of R&D. The first Visible Air shoe in the Michael Jordan line is released.
1990 Revenue $2.2 Billion
Mid-1990s
Parker begins commissioning artists, such as Futura 2000, Mr Cartoon, and Os Gêmeos, to create limited-edition sneakers.
1996
Parker, now VP of consumer product marketing, helps sign Tiger Woods to a 20-year, $40 mil-lion endorsement deal.
1998
As general manager of global footwear, Parker drives Nike’s purchase of Cole Haan, the first in a series of acquisitions that includes Hurley and Converse.
1999
Parker green-lights the Presto, an ultralight running shoe at less than 20 ounces.
2000 Revenue $9 Billion
2001
Parker and Charlie Denson become copresidents of the Nike brand.
Parker helps recruit marathoner Paula Radcliffe.
2002
HTM, an exclusive line of shoes designed by Parker, Tinker Hatfield, and Hiroshi Fujiwara, launches.
2003
Parker okays work on Nike Free, which simulates barefoot running.
Parker’s third year as copresident is marked by multimillion-dollar endorsement deals with LeBron James, Kobe Bryant, and Serena Williams.
2004
Parker oversees creation of the yellow Livestrong band for the Lance Armstrong Foundation.
2006
Parker becomes CEO. He launches Nike+iPod and designs the first Nike+ shoe.
2010 Revenue $19 Billion
2010
Nike stock closes at a record high in April.
Read More About Mark Parker’s Success at Nike: http://www.fastcompany.com/magazine/148/artist-athlete-ceo.html?page=0%2C0&nav=inform-rl
When There’s 118 Seconds Between You and Success
Learn the secret of the 118-second pitch in today’s tip from my buddy, expert marketer and celebrity CMO Jeffrey Hayzlett (www.hayzlett.com). It’s from his new book, The Mirror Test: Is your Business Really Breathing?, all about how to best position your company to grow. It’s already on at least three bestseller lists and I highly recommend you check it out after you hit the blog and share your 118. – www.KeithFerrazzi.com
I had him. I knew it. I had been ready with my pitch and when I got him on the phone, I sold him big time. But as soon as I heard he was hooked, I stopped. I didn’t try to close the sale then and there. Instead, I tried to better position myself to take advantage of his interest and asked him for a bit of time a few days later.
“Well…”
“Let me ask you, are you an early morning person or an afternoon person?”
“Morning.”
“Great, so are you a coffee or tea man or do you like juice or water?”
“Coffee.”
“Milk or cream? Light or dark?”
“Milk, light.”
“Bagels, donuts, muffins, or cottage cheese?”
“Bagels.”
“Great. So I’ll see you Tuesday morning at 7:15. I’ll bring bagels and coffee and give you a fifteen-minute presentation of my product as you eat your breakfast.”
Once again, my “118” had succeeded. Now, I could close the sale the way I like: in person.
The 118 is my version of what some people still call “the elevator pitch”-an out-of-date name for the worthy idea that you need to sell what your company offers (and you) in the span of an elevator ride. Problem is that time used to mean up to three to five minutes. Now, it’s mere seconds. Technology has not only made things (including elevators) move faster but also has increased the need for speed and immediate relevance in pitching. You have seconds before I tune you out and maybe two minutes after that to completely sell me with your initial pitch.
The 118 comes from the 118 seconds you actually have to pitch: 8 seconds to hook me and up to 110 seconds to drive it home — less than two minutes with only seconds to spare. The first eight seconds is the length of time the average human can concentrate on something and not lose some focus. It is also the length of time of one of the toughest rides in the world: a qualified ride in professional bull riding. In these first 8 seconds, you must be compelling, strong, and focused to be successful. You must hold on as one of the meanest, toughest animals in the world tries to throw you off – just like any good prospect will. Make it those 8 seconds, and I’ll give you 110 more to drive your message home with no bull. But if you have not sold me at the end of the 118, I will start to tune out. At that point, we are moving forward to a sale or not.
I speak at hundreds of meetings, conferences, and events worldwide every year, and I am constantly amazed by the inability of entrepreneurs, business owners, their managers, or their sales and marketing representatives to deliver a great, relevant 118.
The 118, like the elevator pitch before it, sells much more than a business’s products or services and unique selling proposition (USP). It is an essential piece in building your brand. It conveys who you are, the assurance your business offers, and the promises you will deliver on. Think you have a brand? Brand is the biggest business buzzword, but what does it mean? To me a brand is just a promise made and kept to a customer. Your 118 helps define what promises your brand will build or make. It connects every promise you make to those around you. Too many businesses don’t focus on these promises and eventually they not only fail to build a brand, they just fail.
The 118 connects directly to the foundation of every business’s growth. I’m not saying a bad one means certain failure, but I have rarely seen a good one deployed in the right way fail to help a business grow. How could it not? It conveys to anyone what he or she will get from your business.
This is usually where people start to nod their heads as if to say, “I know.” But I am not looking for an “Amen.” I’m looking for action. This is proof of life, people, and no time to nod in agreement or say, “I know I should do that” or “I’ll get back to that after I keep reading.” Even when business owners can answer the “Why?” questions (and thus know why they are doing what they are doing), the typical stammering and yammering when I ask for their pitches indicates to me a huge inability to convey what they are doing to their team and customers.
So, put the book down and write down your 118. Even if you have a good one, do it. I’ll wait…. Need help? I asked a few top performers about the best and worst pitches they received. Here is what a few had to say:
“I was riding up the Gherkin elevator with Will Harris, the marketing director at Nokia. I asked, ‘What if you could get dozens of user-generated videos for less than $1,000 each with www.mofilm.com?” He signed up before we reached the top floor and then Nokia went on to win the Cannes UGC competition with one of those videos.” – Jeffrey Merrihue, CEO, Accenture Marketing Sciences (London)
“This [insert idea here] gives us competitive advantage (the only factor that leads to profitable growth), and trades on the four things we covet: our core essence (what we know how to do and what our consumers consider our credentials/leverage), speed (because speed kills), surprise (because surprise disorients even smart competitors), and concentration (the only way smaller guys break through enemy lines with ‘fewer resources’).” – Russ Klein, President, Global Marketing, Strategy, and Innovation, Burger King Corporation
“The worst elevator pitch is one I hear frequently. It goes like this: Prospect: ‘What is it that you do?’ Salesperson: ‘I represent XYZ Company.’ Stop! What does that do to help build the relationship we all need in sales? Describe not whom you represent but what you do to help people solve the problems they have. Why not answer with, ‘I help people solve the problems of living too long, becoming disabled, or dying too soon.’” – Robert D. Lowrey, Managing Partner, Northwestern Mutual
“The Best: We make print clickable. The Worst: We do anything and everything a company needs us to do as cheaply as possible.” – Andy and Julie Plata, Co-CEOs, OutputLinks, Inc., Graphic Communications World
Adapted from The Mirror Test by Jeffrey Hayzlett www.hayzlett.com
Tags: Success, keith ferazzi,top performers, business growth, marketing, entrpreneurs, business owners, jeffrey hazlett, competitive advantage,
www.KeithFerrazzi.com
Business Intelligence and the Soccer World Cup
Sunday, July 11, 2010
Business Intelligence and the Soccer World Cup

The 2010 FIFA World Cup South Africa finished today (Spain won the World Cup, congratulations Spain!) During the world cup, I saw some interesting initiatives regarding BI and the world cup.

SAP created a BI solution called SAP BusinessObjects 2010 Football Experience. According SAP’s website: “Can’t travel to South Africa this year? Let SAP bring the excitement of world soccer to you! Whether you’re a novice or an obsessed fan, “YOUR World Soccer Experience” lets you become part of the action and participate in a whole new way. See how a live working business intelligence system from SAP can help enhance your experience of the game.” Timo Elliott published a good post in his blog detailing the SAP solution.
<object width=”640″ height=”385″><param name=”movie” value=”http://www.youtube.com/v/oAFywFH4TtM&color1=0xb1b1b1&color2=0xd0d0d0&hl=pt_BR&feature=player_embedded&fs=1″></param><param name=”allowFullScreen” value=”true”></param><param name=”allowScriptAccess” value=”always”></param><embed src=”http://www.youtube.com/v/oAFywFH4TtM&color1=0xb1b1b1&color2=0xd0d0d0&hl=pt_BR&feature=player_embedded&fs=1” type=”application/x-shockwave-flash” allowfullscreen=”true” allowScriptAccess=”always” width=”640″ height=”385″></embed></object>
idashboards created an interactive dashboard software to track the 2010 World Cup tournament. According idashboards’ website: “These dashboards monitor the matches played by each team, match scores and points earned by each team in easy-to-view charts and graphs which are updated after each game. Teams compete to make it past the Group Stage and be among the top 16 teams. From the Round of 16, users can view at-a-glance information on team standings and follow who wins the title. There is also an interactive customized map of South Africa where users can roll-over a stadium to see the matches being played there.”
Bruno Aziza created a YouTube channel called Soccer Analytics, where he is publishing several videos about analytics and soccer.







