As humans we want to believe in ourselves, each other, and the brands and companies in our lives. Don’t think about your product’s benefit, think about the statement it makes.

The Bigger the Statement You Make, the Bigger Your Brand Will Become

Whatever you do, someone else can do it better, faster, and cheaper. But you aren’t competing just on products, you are competing on conviction.

People want to believe in what you do, and why you do it.

– From The Startup Daily

Something offered at a discount and something offered for free occupy different places in our minds.

In a normal purchasing decision—even when the price is steeply discounted—we think about the upside and the downside of the transaction. When something is free, we ignore the downside.

Offering Something for Free Suppresses Loss Aversion

Free causes us to overvalue something, and to ignore the indirect costs.

People will spend hours waiting in long lines, put up with the inconvenience of heavy crowds, or purchase a different product they don’t need to get a free gift they never would have purchased anyway.

Customer reviews are powerful. A peer is putting their reputation on the line to stand behind a product. People put more faith in their peers than they do in advertising, which is why sales sites with reviews outperform those without.

But allowing customer reviews can be a frightening proposition. As long as you have a good product, don’t worry too much about loosing control the message.

A Few Bad Reviews Can Actually Improve Sales

Of course if most of your reviews are bad then you probably have a problem with your product. But as long as the majority are positive, a few negative reviews can make the good ones more credible.

Studies have shown that you will have a dramatic increase in sales when you have one bad review and nine good ones verses having ten good ones.

The other benefit of negative reviews is that they tell you exactly what to improve in your next version.

Most of us have a vision for our business that is far grander than the current reality. But the scope of work required to realize that vision can be immobilizing. It’s hard to know where to start and what to do next. Employees and customers are often threatened by drastic changes. And if you take on too much, too fast and fail to deliver, then your efforts may backfire.

Improve Your Business by Just One Percent Each Week

Small changes are more manageable, give you time to perfect each step before moving on, and allow you to stay flexible.

Your customer’s needs will change and your vision for the business will change, so don’t plan your one percent too far in advance. Reevaluate the next improvement each week. By taking one step at a time, you are able to respond to changing conditions and you avoid being locked in to a stale vision.

If you improve by just one percent each week, your business will be 50% better after a year.

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Survey reveals where 2011 marketing dollars are going

Allan Starr

A midyear survey by Google of over 600 B2B marketing professionals asked where their 2011 marketing dollars are going. Even if your focus is not on B2B, these current trends can be pertinent to your perspective.

First, here is how the marketing pros allocated their funds in 2010:

Traditional Media (trade shows, magazines, direct mail, etc.) 62%

Events/trade shows 28%
Magazines/publications 13%
Direct mail 9%
Sponsorships 7%
TV 3%
Outdoor 1%
Radio 1%

Digital (social media, SEO, Email) 34%

Email marketing 8%
Online Content 5%
SEO 5%
SEM 5%
Display Ads 4%
Social Media 3%
Online Video 3%
Mobile 1%

Budget Increase for 2011

34% of marketers who were already marketing through digital channels planned to increase their digital budgets in 2011.

41% of ALL MARKETERS surveyed expected a budget increase in 2011. Out of that group, the average anticipated budget increase was 21%.

Anticipated Increases (by channel):

Online Content 43%
Mobile 40%
Social Media 38%
SEO 38%
Online Video 35%
SEM 35%
Email Marketing 23%
Display Ads 22%
Other 21%

Top-10 most effective media channels (8 out of Top-10 are digital).

Search Engines
Visiting Websites
Using Email
Online Content
Podcast/Webcasts
Online Video
Social Media
Mobile
Events/Trade Shows
Magazines/Publications

Biggest Challenges for 2011
Limited Budgets: 40% are concerned they don’t have enough budget fund their plan and deliver on goals.

Limited Staffing: 39% believe they will not have enough people to execute planned marketing efforts.

Insufficient ROI Analysis: 31% indicate that insufficient ROI analysis is one of their biggest challenges.

Revenue, Lead Quality or Lead Volume: 67% indicate this is the most important metric for digital efforts.

Predictions and Indicators for the Future:

85% of marketers invested in event marketing (tradeshows) in 2010 and 28% plan to increase their investments in 2011.
Search is still #1 for reaching B2B Audiences:

81% believe their prospects are using search engines for work purposes, and agree that search marketing is the most effective digital channel to reach them.

85% said that SEM was effective for gaining new leads, and was ranked as the No.1 channel for this purpose.
Expect a renewed focus on the customer.

62% agree that since the economic downturn customer loyalty has declined.

87% of marketers invest in customer retention.

Two-thirds say customer retention is where a majority of their marketing dollars will go in 2011.

Predictions and Indicators for the Future:

85% of marketers invested in event marketing (tradeshows) in 2010 and 28% plan to increase their investments in 2011.

Email marketing is a top digital priority.

One-third of those surveyed plan to increase their Email budgets in 2011.

There is an eagerness to test new approaches.

69% intend to try out new digital tactics in 2011.

Social media is emerging into the B2B mainstream.

42% believe that social connections have a positive impact on the brand and brand sales.

38% plan to increase their social media budgets in 2011.

16% plan to use social media as a marketing channel for the first time.

40% believe their audiences frequently use social media for business purposes.

Mobile and online video are expected to surge.

40% of those already using mobile as a marketing channel anticipate positive growth in 2011.

48% believe that online video initiatives have a strong positive impact on their company’s brand and sales.

12% intend to incorporate mobile into their marketing plans for the first time.

35% of those already using online video will increase their video budgets for 2011.

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Organizations use their own languages internally; the languages of developers, manufacturers, marketers, or lawyers. Unfortunately they often try to use this same language when communicating with their customers.

People are conditioned to distrust robotic corporate-speak, if they hear it at all.

Speak to Customers in their Own Language–Speak Like a Human

There is a reason for the popularity of YouTube videos, Facebook, blogs, and reality television. People find the intimacy of genuine humans compelling.

Being professional is okay, but first be a person. Be one of us.

Whether you are building a new team at a startup or a joining an established company, your people will form opinions about your leadership based on your early actions.

Are you accessible? Are you treating people humanely? Do you convey a sense of urgency?

A Leader’s Earliest Actions Have a Disproportionate Influence on How they are Perceived

Leverage opportunities to demonstrate your values and teach the behaviors you want to encourage.

Although you may not have a measurable impact on the organization’s performance in the first few weeks, the actions you take can resonate for years.
– From The Startup Daily