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INSIGHTS & JOY
A business newsletter with Pizzazz! "We help leaders become better marketersusing a holistic business approach!" Happy Thanksgiving! It's time again - "Tortilla Soup for the Soul"
The holiday season is almost upon us and here is some big news! I recently updated my popular recipe for Señor Morgan's Tortilla Soup for the Soul. The new 2005 version includes several important enhancements that you will want to incorporate if you already have last year's version. My tortilla soup is a great way to use up all the leftover turkey from your Thanksgiving feast. Get my latest recipe from the Article Library at www.morganmarketingsolutions.com. This month's insight involves relationships. Speaking of relationships, I want to sincerely thank all those who have helped me during 2005. My clients, past clients, affiliates, friends, and colleagues keep me energized and happy in my work. I hope you will find these insights on relationships of value as you, too, take stock of your blessings and remember those who have helped you along the way. Subscribe directly by e-mail to rpmorgan@morganmarketingsolutions.com and writing "subscribe" in the subject box. Check our web site for: $ Million Marketing Tips, Insights & Joy Archive, Speaker's Bureau, and our Article Library! www.morganmarketingsolutions.comIN THIS ISSUEIt's all about relationships! Smiles make the day!$ Million Marketing TipsAmazing facts...Marketing Facets - The Market Focused
Guide to Company Analysis
It's all about relationships! The lubricant of business is
relationships. People like to work for and buy from people and companies they
know and trust. Top performing firms invest heavily in creating and nurturing
strong relationships. Today, everybody wants to get "closer to the customer."
Firms invest millions in Customer relationship management (CRM) software, but
technology is only part of the answer. The company's culture and vision must
match up with what technology promises. Too often, the technology and a firm's
actual performance don't match. That's why many of the CRM installations fail to
achieve very much. There is still a lot of negativity swirling around CRM
systems, but CRM will continue to grow in importance as customers expect more
from each relationship. New technology provides greater
relationship-building capability, but a company must add
customer-centric processes and culture to build long-term customer
loyalty.
In general, effective relationships depend on
the three important PAR factors. Personality, Approach, and Results.
Personality refers to the
traditional trust, chemistry, rapport, etc. people feel when dealing with
an individual or company. The P factor means courtesy, and mutual trust and
respect.
Approach encompasses how the
company or individual approaches the situation and the issues to be met and
solved. Is the approach logical? Appropriate? Cost effective?
Results acknowledges the fact
that, in the end, the relationship must provide satisfactory results for both
parties involved. One-sided relationships don't last. Results can
mean improving revenues, enhancing margins, reducing fixed costs, or
ideally, all of the above. Results may also mean minimizing risk, enhancing
personal performance (mentoring), or self-improvement.
It takes all three PAR factors to build a
strong, long-term relationship: Personality, Approach, and Results, usually in
that order.
One of the reasons for ever-changing
relationships is our accelerating rate of change. Circumstances change, but
people and companies don't always adapt in time. Wise men have pointed out that
'If you continue to do what you've always done, the way you've always done
it, chances are someone else will find a way to do it better...and steal your
relationship!'
That's why innovation is one of the
keys to maintaining strong relationships in the face of growing competition. It
is just as foolish to ignore today's emerging CRM technologies as it is to
invest in CRM without putting it in the context of the entire culture and
operational processes. Inaction is not an option either. When you vegetate, you
abdicate! When you abdicate, your relationships soon vanish.
If you want to see how one company has used
technology to build a strong, loyal customer base, go to Amazon.com and place an
order for a book or other item. Then, sit back and see how well they communicate
with you. They tell you they received your order. They tell you when to expect
shipment. They e-mail you when they ship, so you will know when to expect your
purchase. They look at what you've ordered and recommend other similar items
that people like you have bought so you can increase your own enjoyment!
Measure your own company's performance with
Amazon.com's high tech-high touch approach. Although I've never spoken with a
soul at Amazon.com, I appreciate the 'personal' approach the company
culture attaches to its use of Internet technology. Their approach is proactive
and they provide constructive information about books I might find interesting.
Their system results in my having a fantastic variety of materials available
right from my desktop, delivered within a few days in most cases, and at very
reasonable prices. A customer-centric vision and strategy is at the very core of
Amazon.com's total operation. Their CRM technology enables their vision and
strategy. It works for me!
If you haven't yet investigated the many
PC-based options available to help capture and manage customer relationship
data, you are well behind the curve. Even small companies should be looking at
CRM or contact management programs like ACT!, Goldmine, or Outlook. Software and
database help is readily available. Just don't ignore the other significant
factors that make such investments worthwhile: your culture, your customer
strategy, your approach, and your customer process capabilities. Above all,
never promise more than you can deliver!
Smiles make the
day! The best antique is an old friend. Nobody's conscience ever kept him awake because he exaggerated the good qualities of a friend. A true friend thinks of you...when others are thinking of themselves! A good friend will sing with you on the mountain top, and silently walk beside you in the valley. A real friend will stick by you even when you've become successful. Real friends are those who, when you've made a fool of yourself, don't feel that you've done a permanent job! Close your eyes to the faults of others and watch the doors of friendship swing wide. Genuine friendships like sound health; its value is seldom recognized until it is lost! The best rule for friendships: Keep your heart a little softer than your head. A trusted friend thinks you're a good egg - even if you're slightly cracked. Prosperity makes friends; adversity tries them! $ Million Marketing Tips TIP: Make a list of your objectives,
then take the time to put them into narrative form. The narrative will uncover
any objectives that are mutually exclusive, or at cross
purposes.
TIP: In the future (as in the past)
business will go to those who have developed strong relationships. The
difference is that there are so many more ways to create and nurture those
relationships nowadays!
Amazing facts! Type O (46%) and Type A (40%) are the two most
common blood types.
A crow can live to be 100 years old,
even without diet restrictions!
The 33 mile-long tunnel between Honshu and Hokkaido,
Japan is the longest in the world.
What's your body's largest organ? Your
skin!
Ouch! One of every 2,000 infants are born with a
tooth!
A rhino's "horn" is made of tightly compacted
hair.
Marketing Facets - The Market-focused Guide to Company Analysis Marketing Facets - The Market-focused
Guide to Company Analysis. Marketing Facets is a
practical Marketing Facets is a valuable
resource to private investment fund managers, individual investors, venture
capital specialists, investment banks, > Electronic in MS Word .doc or Adobe .pdf format via the Internet @ $79.95 > CD/ROM format @ $85.95 including U.S. shipping and handling > Ring binder version and CD/ROM combo @ $99.95 including U.S. shipping and handling Consulting is also available.
Please contact me for additional information.
Telephone: 972.931.7993 Fax 972.931.0542 rpmorgan@morganmarketingsolutions.com. P.S. Ninety-five percent of our engagements originate as a referral from helpful people like you! If you know someone who:> Wants to develop a more productive
marketing program, or
> Needs help building and implementing an
effective operational business plan,
I would appreciate the opportunity to discuss the situation with you. Our ideal client is a business owner or CEO between 30 and 60+ years old. Usually with a financial, engineering, or production background.Who is often impatient, and interested in improving company performance. Comes alive when you ask, "How's business?" He, or she, is practical but also enjoys the finer things in life. So, you may see my ideal client driving a Lexus or SUV to Neiman Marcus...and to Sam's Club. Who do you know that fits this description? A client
speaks: "You have been of
significant help in two of my businesses in the past and I will continue to call
on you in the future." To unsubscribe, e-mail to rpmorgan@morganmarketingsolutions.com and write "unsubscribe" in the subject box. ©2005 Morgan Marketing Solutions, Inc. All rights reserved. Other distribution permitted with proper attribution.
Richard P. Morgan CMC Telephone 972.931.7993 fax 972.931.0542 www.morganmarketingsolutions.com Author,
Marketing Facets - The Market-focused Guide to Company
Analysis
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