Don’t Fear Your Marketing Competitors. Learn From Them

chessRegardless of the products you’re trying to market, the audience you’re trying to cater to, or the industry you happen to be operating in, all businesses face competition. This is just a fact of life. But it’s important to realize that a competitor isn’t just another company that is trying to go after the same pool of customers that you are. Competitors are invaluable learning opportunities that are just waiting to be taken advantage of, provided you approach things from the right angle.

Learn About Your Audience

One of the most important lessons that you can learn by taking a closer look at your marketing competitors has nothing to do with your competition itself and everything to do with the shared audience you’re both going after. For the sake of argument, let’s say that your number one competitor offers products or services that are very similar to yours.

How is your competition marketing those products and services to that audience? What types of print materials are they designing? What tone do they use when speaking to them directly? What prices do they charge, and why do they feel like the market can sustain that? What values do they choose to single in on when representing their brand?

All of these choices, along with the public reaction to them, can tell you a great deal about what your audience is looking for. Marketing is all about making a connection, and if you can pick up something through observation that you can adapt and make your own to strengthen that connection, you should absolutely take that opportunity.

Learn About the Competitors Themselves

The second lesson you can learn by taking a closer look at your marketing competitors comes down to how they choose to run a business that is very similar to yours in many ways. This goes beyond just the products or services they provide. Look at how they choose to distribute and deliver those products. Look at the steps they take to enhance customer value or build loyalty. Have they recently instituted a rewards program with great success? If you were thinking about doing one yourself, congratulations, someone else just did your trial run for you.

Perhaps the most important thing you should be watching out for when it comes to your marketing competitors is how they react when they make a mistake. These days, everything is essentially an extension of your marketing arm – from the print collateral you’re putting out into the world to customer service interactions on a site like Facebook. Everything is taking place in the public space, which means that other customers (and you and your associates) can all see everything go down in real-time.

Did your biggest competitor have a particularly nasty public interaction with a customer? What factors caused it to occur in the first place? How did the customer react? How did the business react? What did the rest of the audience have to say at the end of the day? Remember that mistakes are only a bad thing if you choose not to learn from them. If you can get someone else to make a mistake and arrive at the same lesson, you come out all the better for it.

Competition in the world of business (and especially regarding marketing) isn’t going away anytime soon. However, it’s not something you should let get you down. Instead, look at it for what it is: an incredible ongoing education into your market, your industry, and even your own business that someone else is paying for.


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Never Be Afraid to Take on the Big Boys

strong-kid

Something strange is happening on the yogurt shelves: the most popular yogurt is not from a big maker like Dannon or Yoplait. It’s a product from a small, 12-year-old upstart from New York. In March, Bloomberg wrote that Chobani had overtaken Yoplait to become the most popular yogurt in the U.S. The story of how this independent took on the big brands and won has lessons for all of us.

Distinguish Yourself From Your Competitors

Big yogurt brands had become complacent and did not anticipate how new products would catch customers’ interests. Instead of sticking with the same types of yogurt already popular in the U.S., Chobani made their name with Greek yogurt, a thicker and richer product. By the time the larger yogurt companies introduced their own versions of the product, it was too late. Consumers had become loyal to the brands that made Greek yogurt popular.

If you craft your marketing materials and your products to fill a need that your competitors are not, that gives you a competitive edge. Look for what makes your product different from a bigger player in your market and offer what they don’t. By the time they are playing catch-up, you can be the leader.

Be Willing to Make Changes Quickly

Product development at big food companies can take years. At Chobani, a product will sometimes go from concept to trial in the space of a weekend.

In your marketing, if you see an opportunity, be willing to take it before your competition does. This requires a high degree of social listening and a willingness to take chances. Smaller and leaner organizations can adapt far more quickly, allowing them to be the ones who seize an opportunity.

Be Authentic

Millennials now make up the largest consumer cohort. Their priorities are different than the priorities of previous generations. They are less likely to do business with a company that they perceive as a large and impersonal conglomerate. Chobani was founded by a Kurdish immigrant who fled political turmoil in Turkey. After spending time in Europe, he arrived in the U.S. with $3,000 and a small suitcase. In the following years, he built a company that dominates the $3.6 billion Greek yogurt industry.

Do not try to look like one of the big companies in your industry. Portray yourself as the lean, quick, and effective organization that you are. A smaller company, for instance, has staff at the highest levels who are knowledgeable about all customers. This can give your customers a far more personal degree of customer service.

Make News

Over the past couple of years, Chobani has made news for its innovative policies. When the company began seeing large successes, Chobani CEO Hamdi Ulukaya responded by giving 10% of the company’s equity to employees and putting a generous 6-week parental leave policy into place.

What does your company do that is newsworthy? Those practices can build your image and give you more effective marketing than you can buy.

A company’s dominance in an industry is never certain. By taking advantage of opportunities that you have and the bigger players don’t, you can increase your own success.


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To Grow or Not to Grow; That is the Question

arrowBooster Juice started off in 1999 as a one-store operation with a lot of questions about whether it would burn out as a fad. Their product was a juice smoothie (a fruit, vegetable, or plant-based drink shake). However, by 2016, Booster Juice had over 330 stores across Canada, and they are now looking at entering the U.S. market for even more expansion. How did this company go from one small outfit to a mega corporation franchise, and what did Booster Juice’s management do right to maintain growth successfully?

Dale Wishewan, Booster Juice’s owner, was a mechanical engineer by training, being naturally geared to decisions based on analysis. However, he also realized that just running a business by not taking any risks or having the cash on hand to pay for those risks, was never going to produce fast, exponential growth.

A Path for Growth

So, Wishewan settled early on franchising. The franchise decentralization of daily work and keeping an eye on the big picture kept Wishewan and Booster Juice on track. However, the fact that the daily store management was placed with franchisees who had “skin in the game” also meant that Wishewan didn’t have to worry about the loss of loyalty or control.

The above said, Wishewan still avoided high risk markets, especially overseas like China or South America. While these emerging market venues seemed to offer faster growth, the risk level was higher with control issues. Distance and language also presented major management hurdles as well. So, Wishewan wisely turned down those markets to continue growing in Canada alone. It was a smart decision proven by Booster Juice’s metrics and profit figures.

It’s All About the Plan

Scaling up is as much about planning and strategy as it is understanding one’s current capability and cash flow. There is no one aspect of business an owner or manager focuses on; it’s a multi-faceted challenge to meet the increased sales demand promptly and plan logistics correctly while not ending up going bankrupt in the process. As was seen in the above franchise example, not every opportunity was pursued. The business owners had to do some hard research and probability testing to determine which markets were their best choices for solid growth versus high risk and potential failure. By doing so, they avoided common mistakes in fast growth, such as over-commitment and unreasonable sales targets in the process.

Have an Objective Perspective

Exponential expansion can seem alluring, even addictive. After all, with accrual accounting, things can look pretty rosy for a business once projected sales are included in the numbers, and they’re boosting the revenue side of the accounting reports. However, cash is the killer that brings back reality like a bucket of cold water in the face. When payroll, supplies, liabilities, loans and leveraging can’t be paid timely because the projected sales haven’t materialized yet, a company can fold very quickly, even within a thirty to forty-five day time cycle, just from lack of cash. Ideally, a business should have sufficient resources to take on extra growth, but that’s not how real business works. Risk and taking logistical bets are common which makes planning wisely crucial to not betting the farm on “maybe” revenue.

Wishewan and Booster Juice provide a clear example of why, even with positive growth, a business owner or leader has to judge ventures carefully before jumping in. Sometimes some revenue opportunities do need to be passed up to stay successful overall.


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A Business Perspective on Apple’s Latest MacBook Event

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If you’re interested in the tech world at all, you’re no doubt aware that Apple recently announced the 2016 MacBook Pro – something the company is calling “the best laptop ever made.” Indeed, it’s a unit with a technical specification sheet that can’t help but impress. Objectively, it likely will go down in history as the best laptop the company has released to date. However, some users are suggesting that Apple may be losing the balance between “user experience” and “marketing” in a way that is a bit unfavorable to their end goals.

The 2016 MacBook Pro

The new MacBooks don’t have a standard USB port at all, getting rid of them in favor of the new (and admittedly superior) USB-C. This is a great step towards a much more productive future, but it’s at the expense of the fact that we’re not quite at that future just yet. Case in point: the new iPhone 7 does not have a USB-C port at all. Instead, it uses Apple’s proprietary lightning cable.

This means that if you own both devices and just want to do something as simple as charge your iPhone with your MacBook, you need to purchase an external adapter. To be clear, this is not “the end of the world.” The MacBook Pro is still powerful; it can still be used with the brand new iPhone. However, what used to be a one-step process now requires two, as well as a purchase of additional hardware. This is contrary to the popular mantra of “design for the user experience first, marketing second.” This is the very same mantra Apple built its reputation on.

What Would Steve Jobs Say About All This?

Never one to shy away from “rattling a few cages,” this is one particular case where we don’t actually have to wonder what Steve Jobs may have thought about the steps that modern day Apple just took with the MacBook. He may have actually said it himself, in an interview conducted in the 1990s.

In an interview for the PBS documentary “Triumph of the Nerds,” Steve Jobs talked about how important sales and marketing people are to an organization, but how it’s equally important to keep them separate from the product development process. His argument was that all too often, products go from offering a great, easy experience to being “great and easy… to market.” Innovation, usability, and the overall experience tend to suffer as a result.

In that interview, Jobs said:

“… the people who make the company more successful are the sales and marketing people, and they end up running the companies. And the ‘product people’ get run out of the decision-making forums. The companies forget how to make great products. The product sensibility and product genius that brought them to this monopolistic position gets rotted out by people running these companies who have no conception of a good product vs. a bad product.”
Contrary to popular belief, Steve Jobs didn’t hold an “anti-marketing” stance at all. He supported marketers, and with good reason. Under his watch his own marketing team created some of the most successful campaigns of all time. What Jobs was warning against was the idea that you should always design a product or service for the customer first, and then turn it over to the marketing people to do what they do. When marketing is considered an extension of the product development phase, the positive qualities that brought you to your current position in the first place are often lost.


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Polo Club hosting of biennial AYSO National Games July 3-10 announced with 90-foot banner by Print It Plus

AYSO - PBCSC event banner

Wellington, Florida – June 23, 2016 – The International Polo Club in Wellington is hosting the American Youth Soccer Organization’s (AYSO) 2016 National Games from July 3-10, 2016. AYSO Section 14 is partnering with the Palm Beach County Sports Commission to host this week-long event. As part of the kick off the organizers and sponsors will have a 90-foot banner manufactured by local printer Print It Plus unfurled and hung across the eastern-facing façade of Wellington Regional Medical Center.

 

The unveiling of the banner is scheduled for tomorrow, June 24th. The unveiling of the banner marks the unofficial beginning to the preparation week leading up to the National Games officially starting next Sunday. According to the AYSO these biennial national games are “one of the largest and most prestigious youth soccer events that takes place in the United States.”

 

Palm Beach County will be home to one of the largest and most prestigious youth soccer events that takes place in the United States. The American Youth Soccer Organization (AYSO) selected Palm Beach County as the destination for the 2016 AYSO National Games. AYSO Section 14 will partner with the Palm Beach County Sports Commission to host the National Games at the International Polo Club in Wellington, from July 3-10, 2016.

 

“We are very excited to see the AYSO National Games return to Palm Beach County for 2016,” said AYSO National President Mark Stewart in a press release announcing this event, held every other year. “The International Polo Club converts into one of the most stunning soccer facilities imaginable with 30 soccer fields side by side on pristine natural grass. We expect the National Games to again be an important economic contributor to Palm Beach County, but also a tremendous event for thousands of AYSO soccer players from across the U.S. We know it will be an amazing experience for all.”

 

To read the entire original press brief, go here: http://www.multibriefs.com/briefs/nasc/AYSO_PalmBeach.pdf

 

Print It Plus recently acquired the equipment, a Roland SOLJET XR-640 large-format printer/cutter, to print this 90-foot banner. The XR-640, has the ability to produce everything from banners, vehicle wraps and fine art to print/cut labels, decals, point-of-purchase displays and so much more. This particular print project signifies Print It Plus’ successful expansion into several new areas of printing, including large-scale banners in addition to car wraps, wall and floor graphics & decals and custom cut labels.

 

About Print It Plus

Print it Plus is a provider of a wide range of advertising, marketing and printing “solutions”. They will help you grow your company by finding the best marketing and advertising products and services for your situation anywhere in Palm Beach County. Print It Plus is able to provide virtually any product or service imaginable to communicate with your clients, employees, stockholders, and/or vendors.  We are experts at corporate identity pieces, branding, marketing, printing and design. For more information about Print It Plus, contact Kimberly Leland at kim@printitplus.com, by calling (561) 790-0884, or go to our website at www.printitplus.com. For more information about the Wellington Regional Medical Center go to the Hospital website: http://www.wellingtonregional.com.

 

 

About AYSO

The American Youth Soccer Organization is the largest single-entity youth soccer association in the U.S. with over 500,000 registered players and 125,000 registered volunteers. AYSO develops and delivers quality youth soccer programs in a fun, safe environment based on the Five Philosophies of Everyone Plays, Balanced Teams, Open Registration, Positive Coaching and Good Sportsmanship. To learn more about AYSO and how you can become a part of AYSO and the National Games experience, contact (800)USA-AYSO or visit www.AYSO.org.

 

About Palm Beach County Sports Commission

The Palm Beach County Sports Commission is a private, not-for-profit organization contracted by Palm Beach County to promote and market the County as a sports destination. The Commission brings sporting events and activities to the County, enhances economic impact, stimulates bed tax revenues (primarily in the off-season), and maximizes utilization of County facilities. The Commission supports and hosts sporting events that bring visitors from across the state, region, nation, or globe to grow tourism in Palm Beach County. For more information on the Palm Beach County Sports Commission go to http://www.palmbeachsports.com.