Millennials Hate your Marketing — Here’s Why (and what you can do about it).

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You’ve done it!  You researched the young adult market, identified their buying power, and now that “just for millennials” campaign has launched and you’re waiting for the leads to roll in. But instead, nothing happens.

What’s behind the lack of attention and response from this coveted age group? Adults under the age of 30 make up about 1.4% of the U.S. population and pack about 1.3 trillion in buying power domestically. This massive market is made up of savvy consumers who are digital natives and who are very aware of marketing and advertising.

So, why aren’t they paying attention to your marketing? It could be one of these three reasons.

You Treat Them as an Afterthought

It’s a common misconception that millennials, particularly young ones, don’t have the money to buy things or that they waste their money on the wrong things, like avocado toast and pumpkin spice lattes. The problem with this approach is that brands who see these young adults in this way tend to promote the most heavily discounted or bottom of the line products using cost-conscious gimmicks.

Both entry-level products and marketing gimmicks drive millennials away. These savvy users what the newest, the latest and the best, and they can pay for it. Don’t assume your youngest targets can’t afford your best or most recent models. If they are truly captivated with your brand, they’ll find a way. Offer your best products and your most innovative lineup to this group and if they like what you have to share, they’ll keep coming back for more.

You Roll out a “Millennial” Product

You may call it that internally, but labeling your product as a millennial offering is a sure way to drive young adults away from it. Promote it that way on social media and you could get a lot of attention – in a negative way. That innate disapproval of marketing means that millennials are going to be suspicious of any product that announces itself as aimed at them (and could even mock it relentlessly online). You can target millennials with a campaign, approach, or product, but don’t overtly mention it in your materials to avoid a backlash.

You’re Not Social

If you’re dabbling in social media because you are supposed to, but not truly interacting, you’re likely driving away the very consumers you want to attract. Millennials are social media savvy and use channels regularly for entertainment, engagement, and social chatter. A steady stream of promotion is going to drive these coveted young adults away. Instead, pull back on the promotions and truly engage.

If you have an employee who already loves social media, this might be the right person to have monitor and post, even if they are not officially on your marketing team. Social media channels that speak to and “get” millennials can lead to huge brand success, while a mismatch in your messaging can cause millennials to see your brand as out of touch or irrelevant.

Harnessing the power of this massive demographic is well worth the effort, but the first step is ensuring that your current messaging isn’t driving your young adult targets away from your brand. Taking the time to learn how millennials spend money, what matters to them, and even why they love engagement so much can help you tailor your efforts to resonate with this coveted group.

 

 

 


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That Cranberry Drink of Yours Might be 87 Partnership Years Old.

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The typical perspective taught in business class is that one must compete against other similar businesses to obtain, hold onto, and grow a market share. And for that to happen, either the market must be new, or someone has to give up some of their market shares to make room for a new business. However, while this “top dog” approach is treated as the norm in capitalism, it’s not always the best approach to business succes

Making Cranberries Successful

The Great Depression of 1929 began because of a stock market crash and a sudden loss of cash liquidity. As a result, both successful and not so successful businesses were destroyed when the crash occurred.

However, in 1930, amidst the worst economic condition the U.S. had seen and with thousands out of work, the Ocean Spray Cooperative was started in Massachusetts. This cooperative venture, started by three separate cranberry farm growers, was the result of a smart and realistic realization that going it alone in the post-crash market was not going to be possible. Rather than fight and compete against each other, the three growers bonded together to combine their resources and success.

It ended up producing one of the few business success stories launched in the midst of the Depression. Today, that same cooperative now includes a membership of over 700 different farm operations in six states and two countries. The key to their major success was partnership and sharing versus competition and “winner takes all” attitudes.

Half a Loaf is Better Than No Loaf

Going it alone in business may mean you’re accepting pain and struggle that isn’t necessary. Business owners should look around and see if there is any potential to partner up or form an alliance with available competitors, thereby sharing a larger market potential than what their single business is capable of. The results can potentially ensure long-term viability and strength versus suffering from the common “flash in the pan” syndrome so prevalent with new small businesses and startups. This approach can be particularly effective and strategic when a business wants to venture into an unknown, new territory that the potential partner is already present in.

The digital world offers multiple ways for partnerships to be established. Businesses shouldn’t limit themselves to just horizontal relationships with other similar businesses. Vertical relationships with suppliers and end users or business clients can lock in additional market share and business not accessible by simply going it alone.

For those who think that partnerships are temporary mutual positions at best, take note of the fact that 1930 was some 87 years ago, and Ocean Spray is still going strong with cranberries as well as other agricultural products for the national food market.

While cooperating with other businesses may not work for everyone, clearly, the synergy of the many can outdo any singular benefit of a lone business acting in a market isolated and against everyone.

 

 


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5 Meeting Rules You’ll Actually Want to Adopt.

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Are meetings something that you would consider magical at your organization? No? Why not? Aren’t meetings a place to collaborate, share ideas, dream big dreams and then make things happen?

Few business people would describe meetings using terms like actionable, positive, critical and focused . . . yet those are the terms that help define success in moving the organization forward.

Communication methods are imperfect as a whole. While you can create a business plan via a series of emails, it’s inefficient and the plan will often lack creativity. The same goes for one-on-one meetings. Team meetings are the ideal way to build energy and enthusiasm for a new idea and generate actionable outcomes, but without the proper structure, even these meetings can be considered wasted time.

Here are 5 rules that will help keep your meetings on pace, on target, and provide you with the successful outcomes that you need from your time together.

1. Start With An Agenda

No, you shouldn’t begin with ‘What will it take to fill an hour of team meeting time this week?’, because if that’s your first thought then you’re already sunk. Request that team members send agenda items at least 24 hours before the meeting time and consolidate them to form your agenda. Keep in mind the flow of topics, and be sure you’re leaving time for strategic conversations. Leave items that may fall into deep tactical minutiae to the end of your agenda.

2. Plan for Takeaways 

Consider the consensus that you’re attempting to build with your meeting, or what your takeaway should be. Perhaps you need someone to volunteer for a new project, or you just need to inform a group about a direction that will impact their work. If you feel that there may be some pushback to your ideas within the room, look for a partner who will be in the meeting who can help support your point. If an item that was on your agenda doesn’t have a clear actionable, add it to a parking lot for a later date.

3. Keep Time Sacred 

Time is money, and never is that more true than when you have 3-15 individuals in a room together meeting without a timeline or agenda. Based on your agenda, break down how long each portion of the conversation should take and allot time accordingly. If your meeting should only need 23 minutes, then schedule that much time — perhaps plus a few minutes extra. Be a stickler about keeping conversations in check and moving the agenda along to hit key points in your list.

4. Consider a Drive-By 

Just need to chat with a few people about a simple topic? Instead of finding space and time for a full-fledged meeting, consider a 5-minute drive-by or stand up meeting. Grab a few people and huddle around a desk or common area, hash through your questions or concerns and let everyone get back to their day. In the same amount of time that you might take to walk and get a cup of coffee, you’ve made a decision, kept others updated on important points, and reduced the overall inefficiency of the day. The time for small talk can be over lunch; use these drive-bys to distill your ideas into the length of an elevator pitch. This may be uncomfortable for some people as it requires checking your ego at the door, but teams that are able to adopt these policies can become much more agile.

5. Keep it Moving

Always focus on the end result and what you need to keep your projects moving. This could be anything from an approval by a superior, someone agreeing to take on a task, or even consensus that you’re heading in the right direction. Capture takeaways and next steps, and most importantly — the name of the responsible party and when the result should be delivered. This will keep your meetings on task and team focused.

The word ‘meeting’ doesn’t have to be a negative concept. Instead, use these 5 meeting rules to adopt a culture of forward motion, positivity, and respect within the organization that will drive success both now and in the future. This isn’t a one-time change to how you approach meetings, but an organization-wide initiative to take back your time and productivity.

 


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Conversational Marketing: Increasing Consumer Engagement.

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As a business owner, you undoubtedly understand the importance of marketing. What you may not be familiar with, however, is which marketing techniques work best.
One marketing tactic that has proven itself to be of the utmost value regardless of the industry you are operating in is conversational marketing. Increasing customer engagement and boosting profit levels, this form of marketing has great potential.

The Ellen Degeneres 2014 Oscar selfie that largely boosted the popularity of the Samsung Galaxy phones is a great example. Samsung didn’t push out the photo everywhere. Instead, it marketed itself and the platforms it was shared because they included conversational engagement. The same can be accomplished across offline marketing platforms when print media is properly integrated.

What is Conversational Marketing?

Conversational marketing intertwines digital marketing mediums with marketing methods that include actual conversations, such as face-to-face or telephone marketing. With today’s internet applications, like Facebook Messenger, conversational marketing has become extremely simplified. The goal of conversational marketing is to make existing and prospective customers feel heard.

What is different about Conversational marketing?

A key feature of conversational marketing that is different from most other forms is that it engages customers through one-on-one conversations. Both inbound and outbound marketing strategies are unified through conversation marketing because data is tracked and analyzed to produce targeted messages that create and promote consumer-specific offers.

Another notable aspect of conversational marketing is that it overcomes channel fragmentation. For example, traditional marketing platforms placed their focus on automated direct communications through outbound channels; mobile messaging, emailing, outbound telemarketing, etc. These automated messages were not producing engagement because they were not ‘real.’ With conversational marketing, though, inbound channels, including website chat tools, instant messaging, and call centers, use real people to carry out real conversations with consumers which greatly improves customer engagement.

Marketers have been challenged to take advantage of inbound interactions as a way to drive their marketing campaigns, and conversational marketing has served as a viable, effective, and cost-efficient strategy for achieving this goal. While outbound marketing tactics are limited in the number of customer interactions they can provide, conversational marketing increases customer response rates.

Developing Conversational Marketing Campaigns

An effective conversational marketing campaign allows businesses to capture consumer conversations and points of contact to develop the right message with the right offer, all the while using the right channel of communication. Developing this type of campaign means using a real-time recommendation engine that allows businesses to anticipate and prepare for consumer interactions before they take place.

Just like the popular 2014 Oscar selfie, your business needs to integrate conversational marketing techniques into its overall marketing strategy. Offline printing, including flyers, newsletters, and advertisements are a great way to accomplish this goal.

 

 


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Why Educated Confidence Will Carry You Far In Business.

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To say that confidence is an important quality for a business leader to have is an understatement. At any given time, your employees are going to be looking to you to make decisions and provide insight. They need to know beyond the shadow of a doubt that you’re confident in the actions you’re taking. You need to know that you’ve given serious thought to the long, often difficult road ahead of you and that you’re making the right move for the right task at the right time. If people can see that you believe in yourself, in your business, and what you’ve worked so hard to build, they’ll start to believe in those things, too.

But something many people often don’t realize until it’s far too late is that “confidence” and “educated confidence” are NOT the same thing.

What is Educated Confidence?

Trust, belief, faith, conviction – these are all among the most essential ingredients that go into creating a confident leader. But one of the most important is also one of the ones that is rarely mentioned – humility. Humility allows you to acknowledge that even though you’re a leader, you’re still just one small cog in a much bigger machine. A living, breathing machine with a life of its own – one that is much more powerful than any one individual working within it, even when that person is yourself.

In many ways, educated confidence is all about slightly adjusting your perspective to account for your own limitations. You need to be confident in the fact that you’re not always going to have the right answer to every problem you face. And that’s okay – because you’re also confident in the people around you and you know that you’ll get through it together like you always do.

You need to be confident in the fact that you are going to make mistakes as a business leader – probably a lot of them, in fact. But this is something that you welcome because you’re also confident in your ability to learn the right lessons from these mistakes and strengthening yourself and your entire organization in the process.

It’s All About the Decisions

It has been said in the past that leadership essentially comes down to your ability to make decisions– but this is only one small part of a much larger story. It’s also about your ability to see those decisions through the lens of all possible consequences, both good and bad.

An overly self-confident leader often becomes one that people follow because their paychecks depend on it, not necessarily because they want to. We’ve all had these types of bosses – the people who are experts at delegating responsibility (read: barking orders) but who always seem to disappear when those proverbial chickens come home to roost.

A leader armed with the power of educated confidence, however, is someone that people follow because they just can’t help themselves. They acknowledge that they don’t have all the answers and they likely never will, but that’s okay – because “we’re all in this together.” It’s the idea that just because you’re a leader doesn’t mean that you’re always right – and you wouldn’t have it any other way.

Educated confidence is that little voice inside your head that says “maybe I should get a second, or third, opinion on this, as this is definitely outside of my wheelhouse.” It’s a voice that you shouldn’t try to stifle or tamp down, resist or ignore.

Instead, you need to give that educated, confident little voice a megaphone.

 

 


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Why Does Elon Musk Want Dissenters in his Company?

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In many companies and organizations, there is a position that most employees learn to avoid. It’s the position that stands out from the crowd and represents the minority voice on the team. Instead, folks learn to see which way the water is flowing and the music is playing, and they align their interests and concerns accordingly. It’s often couched in phrasing as “being a team player” and being a “proactive player instead of a negative burden” or similar.

Elon Musk, the well known chief executive of SpaceX which just recently solved how to create a space rocket that can land itself and be reused again, follows a different path with his employees. He actually wants people to tell him when they think he’s going down the wrong path. As Musk puts it, the lone dissenter or minority voice often points out issues and facts that if ignored can turn into costly problems later on. However, if a company team only follows the majority path, it can quickly turn into the fatal path of groupthink and “yes” men, ignoring major warning signs a big disaster is about to occur.

The Reward Dissenters Bring

Elon Musk and SpaceX are no strangers to risk. They operate in the high stakes game of off-Earth space transport and travel. A mistake in this environment has almost always meant total loss and millions of dollars wasted. So from Musk’s perspective, a dissenting voice provides multiple benefits. It forces the supported path to be defended better by showing why the concern raised is not an issue, a form of vetting before moving forward. Second, the minority opinion frequently brings up risks or concerns that may be glossed over otherwise because they are inconvenient to the supported path. Again, the biggest business mistakes often start with small, ignored issues, like a small leak in a levee.

The idea of rewarding the person who raises potential problems goes against the trend of American business. For decades business managers have been taught that the team is all-powerful and that many minds in synergy produce more than the individual alone. However, this also assumes a lot of mistakes are made along the way to develop that experience. In rocket-building, however, mistakes can’t be tolerated, so Musk believes in asking every question and giving a chance for dissent, an antithesis to traditional corporate culture.

Think This Doesn’t Apply to You? Think Again

Some might argue that the same situation of a rocket company doesn’t apply to a business creating software or coffee-makers. Businesses can afford to have mistakes and still make sales. However, in practice, this logic fails when the company gets sued and loses a major product warranty or personal injury case. Litigation has killed more than one small or medium business with a great product or service but no defense to a mistake that harms someone.

Musk doesn’t believe every dissenting opinion should be followed. In fact, he notes in his advice they can be incorrect. However, listening causes the path chosen to be analyzed just a bit further to identify weaknesses missed. And in Musk’s business, if it exists, avoiding that weakness can mean his multi-million dollar rocket landing again in one piece. What does it potentially mean for your company?

 

 


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4 Ways to Incorporate Humor at Work.

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Nothing is more embarrassing than telling a joke and having it fall flat at work, but don’t let that stop you from adding appropriate humor to the workplace, as it can be a great way to reduce tension and improve overall relations.

Having fun with the people you spend at least 40 hours per week with can raise your mood and boost camaraderie throughout your office. Here are some of the top ways you can incorporate humor at work:

1. Hire for Personality and Cultural Fit

When you’re the hiring manager or simply someone able to have input into hiring processes, try to look for someone to join the team who approaches work seriously, and themselves lightly. This could come in the form of an easy smile, a little self-deprecating humor, or the ability to find the amusing side in everyday situations that others may consider stressful. When you have someone on your team who can inject some fun into the workplace, it gives others permission to crack a smile as well.

2. Encourage Silliness

Sure, you don’t want to be silly all the time as you’d get nothing done, but a little wackiness once in a while can break up an otherwise boring or tedious day. Send a cute animal meme or 30-second video to a small group of work friends and enjoy the smile on their face when they view it. If it’s not against your rules, post a humorous cartoon that has a positive message. It is important to be careful, however, as longer videos beyond two minutes or so sent to a large list of people can effectively kill productivity (which won’t make your boss happy at all!)

3. Keep it Professional

A great rule of thumb is that if you would be embarrassed having whatever you want to say plastered on a billboard — don’t say it! Same goes for the grandmother test. If you wouldn’t want your grandmother to hear what you’ve been saying, you probably should abstain. Don’t make fun of others even when it’s “just for fun,” and keep teasing to a minimum. This especially holds true if you’re a supervisor or in another position of power. You may not realize that your good-natured poking fun at others can be taken much more seriously when there’s an imbalance of power.

4. Inspiring Others

You’re more approachable to others when you’re smiling, which may be one of the reasons that many leaders work hard on keeping a pleasant look on their face. When you work hard to uplift others with a pleasant word, even sharing amusing inspirational videos can provide you with some personal collateral to be used at a later time. It’s important to note that individuals who appropriately use humor at work are likely to be promoted more quickly and make more money, so there are definite reasons to putting some fun-loving vibes into the air!

Using humor appropriately at work can tighten the bond between co-workers, keep those creative juices flowing, and make the days fly by! However, you always have to balance the good times with ensuring you’re being as productive as possible on the job. Jokes and effective banter can improve your standing within the organization specifically because it is assumed that you are mature enough to understand the proper use of humor and that you’re relaxed and confident enough to call attention to yourself.

 


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Productivity Tools That Will Give You Back Your Sanity.

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Whether you’re working from home or the office, distractions happen, and they can be a productivity killer. Nearly everyone has an example of weeks that you look back on and wonder “What happened? I know I was busy . . ” while still feeling as though you’ve accomplished nothing. With deadlines crashing down on your head and the constant demands of family and work, it’s important to be as productive as possible to maintain your sanity. These productivity tools are vetted by experts to help bring balance back to your life — while still getting things done.

1. Time Trackers

Even if you’re not a fan of tracking every task that comes across your desk, a time tracker can provide a valuable way to give yourself mental freedom from specific tasks. For instance, what if instead of tracking the time you’re doing something, you track the time when you’re not doing something — like checking email? Set a timer for three hours and (gasp!) close your email client completely. Turn your phone over on your desk, and turn off the ringer. For three hours, allow yourself to focus on something other than responding to others. You will be pleasantly surprised at how productive you’re able to be without the constant distractions caused by emails, text messages, and social media without feeling like you’ve been out of the loop for too long. Of course, you can always use time trackers in the traditional way, by setting estimates for time and tracking how long specific tasks will take. Either usage will help bring your productivity back into focus!

2. Take it to the Cloud

Cloud-based document and data storage platforms allow you to be productive regardless of your physical location — a critical need in today’s always-on business world. Google Drive, Dropbox, and Box are a few of the options that offer low-cost ways to sync your information between tablets, mobile phones, and laptops or desktops, so you’re never truly away from the office. More corporations are utilizing these cloud alternatives to traditional enterprise data storage due to the relatively inexpensive cost and ease of use for employees.

3. Expense Management

Mobile apps such as Expensify allow you to take a quick snap of receipts and classify them by project, something that is invaluable for today’s busy professional. Keeping track of receipts and ensuring that they get assigned to the right account is yet another of those small yet nagging tasks that can reduce your available mental space without a single return. Clear out the clutter mentally and physically when you use a digital expense management tool.

4. Email Productivity

Professional emails can be a hassle, from trying to remember to send something at just the right time to getting off the myriad of email lists that tend to stack up in your inbox. Tools such as Unroll.me will quickly unsubscribe you from a wide range of email lists in a few short seconds, while tools such as Boomerang allow you to schedule messages for delivery at a later date. This keeps your email from hiding at the bottom of an inbox that is stuffed full overnight.

Ultimately, these productivity tools will help you squeeze a few extra moments into your day by automating simple tasks such as unsubscribing from email lists and having the information at your fingertips when you need it. When you’re able to take these actions when you think of them, you’re clearing your mind for additional productivity — instead of having to maintain a mental database of open tasks to be completed. Take back your sanity by becoming more productive and regaining some of your focus!


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Your Company’s Waste Makes This Man Rich.

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Matt Malone would probably be considered an odd fellow and maybe even mentally ill by those seeing him on the street. However, for those who know Malone personally, they might think that he’s a genius. Malone is, in modern terms, known as a dumpster diver. That involves essentially going into large dumpster bins and rummaging around to see what people have thrown away.

Malone was first introduced to the practice by accident when working in a company that got rid of far too much valuable, working equipment. What he realized at first was that the items were still usable, valuable, and most importantly, functional. However, when he took them home and started making inventions with the items, he realized something more – people wanted what he was finding and were willing to pay real cash for the items.

Diamonds in the Rough

Today, Malone is at an expert level, finding gems in the rough and converting them into sales of hundreds and even thousands of dollars. In fact, he makes more in dumpster-related sales than he does in his regular job.

However, this article is not about Malone’s success. It’s about the fact that Malone’s earnings are possible because businesses regularly throw away thousands of dollars of perfectly fine commodities and equipment simply because it’s not needed, no longer perfect, or no one knows what to do with it in the office. As a result, companies small and large are bleeding expenses daily without seeing the full benefit from what was bought. And that makes Malone a rich man.

Whether it’s security cameras, unused ink toner, or usable furniture, companies move out perfectly viable goods and products to their collective dumpsters every day. And this obvious waste and loss of company money is because there is no incentive within most companies to try to make things stretch further. Don’t need that toner anymore? No problem, buy a new one and throw the old one in the box in the hallway. The janitor will take care of it regardless of the fact we spent $300 to buy it on the last office supply order.

Reuse, Resell, Recycle

People regularly make fun of the TSA and government airport security, but the security agency has one step up on some of the smartest companies. Instead of adding more trash to landfills with all the nail clippers, pocket knives and nail files they confiscate from travelers at the security gates, they bundle them into large bins and sell them on eBay, recouping actual cash from free confiscations. How many companies actively recoup funds by reselling what they don’t need? Not enough, which is why Malone and dumpster divers like him are becoming rich people.

Many parts of the world look at the U.S. and see it as synonymous with waste and laziness. But it doesn’t have to be this way. A simple bit of attention on equipment and inventory can change behavior dramatically in every office and program.

General Motors got smart and now saves a $1 billion a year. By simply making it clear not to waste and to proactively consolidate extra material for reuse or resale, companies can add a small, but valuable additional revenue stream to their bottom line. That may be bad news for Mr. Malone, but he’s likely not too worried. So many businesses are throwing away so much product daily, he’s unlikely to run out of free trash discoveries and supply for a long time.


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The Persisting Power of Loyalty.

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What is loyalty? Loyalty is words combined with actions. It is devotion tested by time. It is steadfast security that grows from a most prized character quality. Theodore Roosevelt said, “It is better to be faithful than famous.” American author Elbert Hubbard agreed: “If put to a pinch, an ounce of loyalty is worth a pound of cleverness.”

Relationally, loyalty builds trust, security, affection, and the ability to thrive. The same is true professionally – only as we build loyal customers and employees will we begin to see business prosper and flourish to its fullest potential. So how can you grow something so intangible, yet so critical, to the foundation of your organization?

Three Primary Pathways

The good news is, you already have buy-in at some level. Whether you have a small business or thousands of employees, customers and co-workers have entrusted you with their money, their well-being, or their future. And people who have “bought in” are looking for reassurance that they’ve made a good decision! How can you move them from the point of trial commitment to a place of wholehearted ownership? Here are three pathways to press into:

  1. Cultivate Loyalty. Being so focused on bringing prospects through the front door, sometimes, you can forget about those going out the back. Enduring connections happen when you urge your clients and employees to stay the course by encouraging them to renew their commitments and helping them VALUE what is VALUABLE.
  2. Celebrate Loyalty. This can be as simple as a Christmas card or as heartfelt as a personal phone call. As a company, be sure to set tangible goals and conspicuously celebrate the progress that’s been made. Look for strategic ways to cast vision, gather testimonies, craft impact pieces, and honor important milestones. Creatively appreciate your clients and co-workers, and publicly commemorate a job well done!​
  3. Reward Loyalty. According to the book Marketing Metrics, the probability of selling to an existing customer is 60-70 percent, and they typically spend 67 percent more than first-time clients. Additionally, persuasive personal recommendations are most likely to flow from your base. What are you doing to reward that devotion? Aren’t your most valuable clients or employees worth a little extra expense? Consider personalized incentives, tailored service packages, or preferential terms, discounts, or benefits. Give these influencers personal access to your leadership and go the distance to meet and exceed their expectations. Don’t forget, authentic personal relationships are a powerful motivator.

Prioritize People

Are you looking to cement your customer base so your organization can flourish to the fullest? Prioritize people as you cultivate, celebrate, and reward loyalty. Companies that can do this will experience enormous benefits through a thriving reputation, consistent customer retention, and enhanced employee satisfaction.

 


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