The Continuum and the Marketplace

In consumer business strategy – from branding to product development – addressing the emotional human needs continuum is crucial to success. Businesses that seek to create superior product/service experiences need to learn how to empathize with consumers’ needs.

Years ago, our firm conducted research at Universal Studios Florida and Walt Disney World, Orlando. At the time, Universal was searching for ways to distinguish itself from its giant competitor. Consumer deep-dive research with 14 families provided a participant mix representing the park visitor population. We followed these families observing their moods and behaviors, and discussed their impressions as they experienced the parks to determine what was really at play during a family vacation.

We take vacations to escape daily life and to provide children new experiences. Vacations satisfy our need for pleasure in an ever accelerating culture. So what happens when we escape and the work piles in our inbox? In the context of emotional needs, a theme park can mean more to its patrons than they can articulate. It’s not simply about the fun, but rather the function of the fun for the family’s growth.

One might think that the two parks are locked in a win-lose competition for Sunshine State vacationers, but that’s not necessarily true. Many families visit both parks. At one time the parks offered discernibly different atmospheres. One interview subject put it: “Disney is like sitting by a stream. Universal is like going rock climbing. Both are enjoyable, both are nature, but with one you’ve got more of that nervous adrenaline rush.”

Our researchers spent days observing how this participant’s analogy was on the money. The polarity of experiences is perhaps why some vacationers visit both parks. At the time, Universal and Disney mirrored the needs continuum. However, this has changed. They aren’t merely high-end amusement resorts that offer different thrills for families. They help families satisfy psychological needs for their children.


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About the Author

Mark Ingwer is a business psychologist and the founding partner of Insight Consulting Group, a global marketing and strategy consultancy specializing in consumer and business insights. He has over 25 years experience applying his unique blend of psychology, marketing, and business acumen to helping companies optimize their brand and marketing strategy based on an in-depth understanding of their customers. He has worked with a diverse range of companies across numerous industries, with a special focus on consumer packaged goods, healthcare, and advertising. Mark is a frequent speaker and media source, and has been featured in publications such as Business Week, New York Times, Crain’s New York, Brandweek, Chicago Tribune, Chicago Sun-Times, Admap, Bloomberg Markets, Marketing News, and Advertising Age.

6 Silent Productivity and Profitability Pitfalls, part 2 of 7

Silent Killer #1: Degenerative Moods

A mood is a predisposition for action. As human beings, we are always living in one mood or another. This is an inescapable aspect of life. We are mood-driven creatures, and our moods are the foundations from which we assess and move in the world.

Moods come in a variety of shapes and sizes, but they all fall into one of two categories: generative and degenerative. In other words, they do (or do not) generate possibilities, and it is in the world of possibilities that new futures are invented.

However, too many organizations today are in the grip of degenerative moods – with a workplace culture marked by some combination of distrust, resentment, resignation, cynicism, arrogance, and complacency. These degenerative moods can lead to a wide range of unproductive behaviors, which in turn consume or waste vast quantities of resources while leaders are forced to work around or attempt to correct them.


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About the Author

Chris Majer, Founder and Chief Executive Officer of The Human Potential ProjectChris Majer, Founder and Chief Executive Officer of The Human Potential Project, is the author of The Power to Transform: Passion, Power, and Purpose in Daily Life (Rodale), which teaches the strategies corporate, military, and sports leaders have used to positively transform themselves and their organizations in a way readers can adept to their own lives and professions. He may be reached at www.humanpotentialproject.com.

The 7 Silent Business Killers

High blood pressure is a silent killer. Combined with other risk factors it can lead to death. Similarly, in business, there are 7 silent business killers that if combined, can lead to the death of a business. Here are the warning signs the health of a business may be at risk:

#1 Life Is Great

Things have been going well for a long time now. You hardly ever hear of any problems. The numbers look good, although lately they have been getting a little soft. You are not too worried because your people will tell you if something is wrong, although they didn’t the last time you lost a customer. You found that out by accident.

Right about now you are feeling like you have this CEO thing down cold! Maybe it is finally time to work on that golf game. You couldn’t be more wrong.


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About the Author

CEO Miller IngenuityWith more than three decades of management, executive, consulting and speaking experience in markets all over the world, Miller Ingenuity CEO Steve Blue is a globally regarded business growth authority and ‘turnaround specialist’ who has transformed companies into industry giants and enthralled audiences with his dynamic keynotes. He may be reached at www.StevenLBlue.com.

Business Performance Assessment Program Best Practice 8 – Documented Business Performance Assessment Process

StrategyDriven Business Performance Assessment Program Best Practice ArticleEffective performance improvement programs promote alignment of business operations with the organization’s vision, mission, values, and goals. Such programs consistently identify opportunities to improve high value-adding operations and to eliminate low value-adding activities. These programs themselves are highly efficient and capable of producing repeatable results. Documenting the business performance assessment process provides the framework necessary to achieve this level of focused execution consistency.


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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Why did you lose the sale? Really?

74% of salespeople complain about losing a sale because their price was too high. And 74% of them are wrong.

How did you lose the sale?
Why did you lose the sale?
Was it really price? Or was it you?

Losing the sale manifests itself in ‘blaming complaints’ about: price, unreturned phone calls, bidding, loyalty to others, and other blame-based excuses about why a sale does not take place, and the relationship isn’t being built. Ouch.

Here are the major reasons why salespeople lose sales:

1. The customer was loyal to someone else. Your first job is to uncover what makes the customer loyal. What’s the real reason they continue to do business with someone else? Ask yourself if you and your company possess the same qualities.
2. Lack of real connection to or with the buyer. The prospective customer is looking for comfort, peace of mind, and assurance
3. Lack of engagement. You weren’t able to create real interactive dialog.
4. Lack of perceived value. If the customer does not perceive genuine, definable value in your offer, then there is none.
5. Lack of perceived difference. If the customer does not perceive genuine, definable difference between you and your competition, then there is none.
6. Lack of relationship. When long-term relationship is present, truth, trust, and value are the basis of purchase.
7. Lack of hustle. Response time to a customer’s need for service and/or information are critical factors in purchase.
8. Poor salesmanship. This has fundamental flaws of preparedness and presentation skills. There’s an obvious lack of questioning skills or sales strategies that create a buying atmosphere.
9. Poor attitude. The way you present yourself and your word choice combined with your tone and demeanor leave a HUGE impression on the customer. And that impression is either positive, neutral, or negative – and YOU CHOOSE how you made them feel.
10 Lack of ability to reduce or eliminate risk. This may be the prime factor in losing sales. And the least talked about. The simple answer is: PROOF. Can you substantiate your claims?
10.5 Failing to do your BEST. Without a doubt, this is the BIGGEST flaw in salespeople. Whether it’s attitude, belief, self-confidence, preparation, or follow up, your execution at a level less than BEST leaves a huge opening for your competition to win.

REALITY: None of these reasons are ever stated by salespeople. Instead, they (you) blame the loss of a sale on price.

“They took the lowest price,” is the most often stated ‘reason’ for the loss of a sale. And it is totally bogus. It’s easy to blame ‘price’ for the loss. It’s harder to face and discover the real ‘why.’

The reality (and life-long value) of why you lost a sale is forever silenced when you blame the loss on price, and move on to the next sale.

REALITY: “The customer took the lowest price,” is as bogus as “My dog ate my homework.” The fact is you let the customer control the selling/buying process. Not good.
STRATEGY: Get the customer to change the criteria of proposal submission in a way that is both in favor of the customer and you.
GIVE THEM IDEAS TO GET THE ORDER: Make the customer aware of the cost of buying inferior products as it relates to work stoppage and lack of productivity. Make them aware of the value of their image and reputation.
PROVE IT TO WIN IT: Make everyone competing provide a VIDEO testimonial for each item they’re selling and every claim they make about it. Document and prove elements like service response time, how friendly you and your team are, and how easy you are to do business with.

THE REALITY OF BLAME: The opposite of blame is responsibility. In sales responsibility is taken, not given. Be responsible TO yourself and FOR yourself. Don’t blame the customer, HELP the customer. Do not let the REAL reasons you lost the sale get tangled up in blame.

ASK YOURSELF: Why did you really lose that sale? What could you have done to make it?

PATH OF LEAST RESISTANCE: Lowest price is the EASIEST excuse for a salesperson to make. Customers take lowest price because they perceive your product or service is the SAME as your competition. Not good.

If you are sick of losing sales like that, then you better discover WHY they took the lowest price, and create greater value differentiation. And while this is easier said than done, it is BY FAR, the biggest sales and profit opportunity you possess.

“Jeffrey,” you whine, “But what about bidding?” You know the people that take three bids then choose the lowest price? I’ve got some surprise answers about bidders next week!

Reprinted with permission from Jeffrey H. Gitomer and Buy Gitomer.


About the Author

Jeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless Customer Loyalty is Priceless, The Little Red Book of Selling, The Little Red Book of Sales Answers, The Little Black Book of Connections, The Little Gold Book of YES! Attitude, The Little Green Book of Getting Your Way, The Little Platinum Book of Cha-Ching, The Little Teal Book of Trust, The Little Book of Leadership, and Social BOOM! His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at [email protected].