How to Reward Your Best Clients and Prospects

Posted on March 21, 2010 by rogerparker

How much are your A-list clients and prospects worth to you? This is one of the most important questions you and your marketing department have to constantly address, during good times as well as bad.

The metrics of identifying your best clients and prospects are relatively easily described:

Sales volume. How much are your best clients and customers spending each year?
Profit margin. How profitable is their business?
Payment history. Some categories of customers may spend a lot, but make getting paid a continuing challenge. Are these customers worth it?
Loyalty. How long are your best clients likely to stick around? How likely are they to defect at the first sign of a price war, quality glitch, or technological change?
Referrals. How many referrals do they generate? How good are the referrals?
Customer Lifetime Value. This, of course, is the key metric, the one that takes into account not only how much they spend as well as how long this category of customers tends to remain active buyers.

But, there’s a more important question

Most firms find it easier to identify their best clients and prospects, but find it much harder to answer the question,”How do you say thanks?”

How you thank your best clients and prospects is the today’s key issue in building long and profitable relationships with them.

In many cases, options quickly run out. There’s only so many price and service concessions, payment flexibility, rewards, and entertainment/hospitality alternatives.

It becomes hard to find a way to tangibly demonstrate your appreciation to your best clients and prospects. It also becomes hard to stand out from the competition and build emotional connections with clients and prospects.

The Premium Advantage

There are several reasons premium books–books published specifically for your best clients and prospects, and distributed with your compliments–are the perfect way to say thank you:

Tangible. In an electronic world, with the volume of mail declining each year, books offer a tangible advantage. They can be held in the hand and placed in a bookcase. In many ways, books have an almost magical appeal; an expensively-produced brochure can be ignored or tossed, but, somehow, few people can throw out a book. Thus, a book with your name on the cover has a long shelf-life in your client or prospect’s office.
Customized and relevant content. You and your marketing team know a lot about your clients and prospects. You know your client and prospect’s challenges, goals, and problems. You know what keeps them awake at night. This knowledge gives you the power to publish a book with relevant, helpful content, content that will empower and inspire your clients on a deeply personal level. You can generate personal loyalty on a level eclipses the costs of producing, printing, and distributing the book.
Action, scarcity, and urgency. Scarcity is a great motivator. Yet, it’s often hard to build urgency into professional and service businesses. But, it’s relatively easy to publish a limited distribution book, one that not be reprinted! Whether you publish 500, 2,500, or 5,000 copies, when you promise “When they’re gone, they’re gone forever!” you’re able to tap into one of the most powerful human emotions, an ageless formula that produces results time after time.

Combine helpful, relevant content with the motivation generated by limited quantity, you have a formula simultaneously thanking clients and prospects while inspiring them to take immediate action.

Best of all, in an environments characterized by constant and rapid change, a successful premium book in 2010 paves the way for anticipated updates and follow-up successes 2011, 2012, and beyond.

Each year, the format remains the same, but, by updating the contents and changing the colors on the cover–and keeping supply less than demand–you have a formula for yearly success.

The perfect team

You know your business; we know ours!

You know your client and prospects, their problems, goals, frustrations and “hot buttons.”
We know how to efficiently produce books that deliver helpful, relevant, content in simple, straightforward language.

Working together, we can make things happen…and we can do it in a fraction of the time the “big guys” in New York City would be able to do.

Creating a “thought leadership culture” throughout your organization

Posted on December 15, 2009 by rogerparker

What are your firm’s feelings and policies towards employees who want to participate in thought-leadership activities like blogging and writing books?

Does your firm support employees who want to write on their own time, or is it concerned or threatened by employee blogging and writing?

The problem is certain to come up more and more frequently, as technology continues to open up new opportunities to write and share ideas.

Advantages enjoyed by “thought leadership cultures”

Firms that actively support thought leadership cultures can benefit in both obvious and subtle ways. Some of the benefits include:

Obvious benefits. Published books remain one of the strongest branding tools available. Books enjoy high-visibility, especially valuable to firms selling intangibles ( ideas and images). A well-written, helpful, and timely book can create a halo-effect around all of a firm’s products and services which can be leveraged to increased awareness and respect.
Subtle benefits. Even more important that reinforcing a firm’s bond with thought leaders and various market segments in its field are the subtle effects that a writing culture encourages throughout an organization. By sharing the tools of writing competency throughout all levels, firms can raise their employee’s abilities to think clearly and creatively, and communicate more effectively, on all types of written communications, from e-mails and memos up to presentations and proposals.

What does it cost to encourage a thought-leadership culture?

Given the benefits of staff-wide enthusiasm and enhanced abilities to think more clearly and write more persuasively, the costs can be relatively modest.

As always, small, simple steps may be best in the beginning, such as:

Shared resources. Strategically-placed shelves containing writing resources like books about writing could draw attention the firm’s interest in helping improve their staff’s writing abilities. Likewise, offering access to online writing resources could raise staff enthusiasm for clear writing at minimum cost per month.
Workshops and training. Another way firms could demonstrate their interest in their staff’s thought leadership program would be to set up internal events, like presentations and workshops, to educate their staff about the realities of getting published in 2010.
Incentives. Another high-visibility, low-cost way to demonstrate interest in staff writing and reading would be to use Amazon, Barnes & Noble, and Border’s gift cards as staff incentives and rewards.
Writing coaches. Newspapers frequently have staff writing coaches, perhaps firms interested in being branded as thought-leadership firms should consider hiring a full-time or part-time writing coaches to guide their employees as they learn the ropes of writing and publishing.

At first glance, some of the above ideas may appear to be utopian in today’s age of “making more with less.” Yet, given the power of brand and image, the potential rewards firms could enjoy would dwarf the start-up costs of a well-run thought leadership program.

Roger C. Parker is currently writing a book on book titles–his 39th book–for THINKtweet books. His previous books have sold 1.6 million copies around the world. Roger’s Published & Profitable offers online support for authors planning, writing, promoting, and profiting from publisned books.

Why Firms Should Encourage Their Executives and Managers to Get Involved Writing Books

Posted on December 8, 2009 by rogerparker

Published books can be powerful marketing tools: firms should encourage their executives and managers to write relevant books about the challenges and opportunities in their field.

Why? Because published books offer corporations the same rewards that published books offer entrepreneurs and self-employed professionals!

How firms can benefit from books

Here are some of the ways firms like yours can benefit from books written by their employees:

Awareness. A published book can raise a firm’s awareness, especially if it offers helpful, relevant information to its customers. In addition to enhanced search engine visibility, invitations to speak at trade events often follow a book’s publication. Each speaking opportunity or panel appearance offers valuable networking opportunities.
Credibility. It’s one thing for a firm to say, “We are innovative and forward thinking.” It’s another to prove it with a thought leadership book that introduces new ideas in an editorial, as opposed to an “advertising,” format. Consumers view a firm’s advertising as “propaganda.” But, an independently published book is viewed as “objective.” A book that helps its readers achieve desired change creates a “halo” all of the firm’s products and services.
Staff development. Writing a book often benefits the author, and their employer, as much as it benefits readers. Writing a book provides the author with an opportunity to develop a new perspective on the firm’s role in their market, while improving the author’s ability to communicate. As the author’s abilities grow, so will their contributions to the firm.
Introducing new ways of doing business. Firms should view books as “white papers on steroids.” Corporations spend millions of dollars each year preparing 10-12 page white papers introducing new products and technologies. Books a better, moe tangible, platform to tell more about breakthrough ideas and their relevance to customers and clients.
Customer satisfaction. Today’s products are more complicated than ever. As a result, customer support costs are rising and many product features go under-used or under-appreciated. Books written not as documentation, but as “guides” or “handbooks” can increase customer satifaction by providing a user-oriented perspective that speaks the customer’s language.
Merchandising and marketing opportunities. Published books offer numerous marketing opportunities in terms of highly-visible rewards to loyal customers and clients. They make it easy to track the effectiveness of marketing and public relations campaigns.

Technology has opened new doors for corporate publishing

Today’s publishing technology has made it easier and more cost efficient for corporations to become involved in publishing activities. No longer is publishing hindered by the need to gamble on the large press runs formerly required to get a credible book published.

New, more efficient formats have been developed, and new printing options allow books to be printed as they are sold.

Publishing offers win-win opportunities for everyone

My first book offers a case study in the power of a published book. In the early 1980′s, I was an observer and participant in the desktop publishing revolution that “democraticized” the design and production of brochures, newsletters, and training manuals.

I watched a generation of non-designers–secretaries, administrative assistants, and entrepreneurs–struggle with design issues, creating print communications that were not only hard to read, but also undermined the firm’s brand.

I then devised a solution that addressed the problem and enhanced the firm’s profits! The solution I conceived and wrote was a simple guide, The Aldus Guide to Design. This slim, 5 x 8 inch, 80-page book introduced and simplified graphic design principles so they made sense to non-designers.

Ultimately, the firm distributed over 250,000 copies, solidifying user loyalty as well as boosting software registrations and upgrade profits.

The principle of using a book to educate a market and introduce a new way of doing business is even more doable with today’s technology!

Roger C. Parker, has written over 30 books that have sold over 1.6 million copies around the world. Learn more about “writing for non-writers” by visiting Published & Profitable and downloading a free copy of his Write Your Way to Success 14-page author guide.

Successfully Motivate your Holiday Staff

Posted on December 8, 2009 by cathyo

Many companies depend on sales during the holiday season to balance their books for the entire fiscal year. As a manager who is directly responsible for company sales, motivating part-time and temporary employees during this busy season can be a challenge. Many managers, who have made consumer sales their career find themselves in the challenging position of depending on a sales staff comprised of hourly employees who are only working for the paycheck and have no intentions of making their current “job” a career.

So how do you motivate a staff who is not motivated by career advancement? As a manager, one needs to understand their employees and what motivates each person as an individual. No two people are alike, therefore no two people can be managed the same.

The holiday season is a busy time of year, but it is still important to sit down for at least ten minutes and get to know everyone you work with. As managers, sometimes we assign tasks and responsibilities without thinking about the person we are delegating to. Some projects and responsibilities can be done with more success by the right person, rather than the person who might seem to be the best fit. These are the questions every manager should be able to answer about members of his/her staff:

What are his/her long-term career goals?

Is s/he working here to start a career or earn extra money? Extra money for college? Is this a second job?

What is his/her home situation? Does s/he have to leave work at a certain time to pick up kids? Does s/he have a working spouse and children? *Remember, this is not negative information; knowing about home life can help managers assign the right projects to employees as well as help schedule the right shifts.

If a manager takes the time to learn about the employees around him/her then it makes managing each person that much easier.

Stay tuned! My next entry will talk about how to have fun during this stressful and busy sales season!

The Perfect Customer Experience

Posted on April 21, 2009 by admin

The benefit of living in Silicon Valley is that the weather is beautiful most of the year and even in warm weather one can drive 4 hours to Tahoe to go skiing. We woke up at 5am and drove to Tahoe, arriving at 9am. When we woke up, the temperature was 47 and rose to 62 on the way, but dropped down to 45 by time we were at the ski resort. BTW: We drove back the same day and it was 75 when we got back.

I was concerned that there would be no snow, but there was snow everywhere. Five of the six chair lifts were open. The resort had made some fresh snow the night before and plowed the mountain to ensure that there was no ice. Even more amazing is that there was almost no one on the mountain. As I was getting on the lift for my 6th run (having skied 18 during the day), I realized how amazing it was. There was: No Lines

Great snow
Beautiful weather (it was 60 when we left the mountain)
Gorgeous surroundings
No lines
Friendly people

You can imagine how beautiful it was. I can still enjoy the feeling of peace and tranquility. We were lucky!

What made this happen? Not all the elements were in control of the resort. They did have control on where they built the result, they do have control, at least to some extent, of the snow (at least keeping it groomed and making fresh snow–temperature permitting), and they did have control of ensuring that the staff was helpful and friendly. The beautiful weather was certainly out of their control and although this weekend was advertised, the lack of large numbers of people was somewhat out of their control as the weather caused folks to think that there was no skiing. There’s nothing like skiing in 60-degree weather on a beautiful mountain with good snow to stamp an indelible feeling.

For your company, what are the key elements that if the stars aligned would allow you to deliver the “perfect” customer experience? Not all are under your control, but if you focus on what is, then you will put your firm in a position to allow all the stars align to deliver your customer’s “perfect” experience. I’ll tell you that it is something they will not forget. Whether it’s a retail experience or a business program executed extremely well delivering above-and-beyond results, the perfect experience will be remembered. Think about it, plan for and execute it.

Relevant books: “Care: You have the Power!” and “Happy About Customer Service?“

Top 10 Reasons to Write a Book

Posted on March 3, 2009 by admin

Instant Credibility: You are not just “Jay Conrad Levinson”, but “Author Jay Conrad Levinson.”
Opens Most Doors: Whether it’s during the writing process (many folks want to be included in a book) or afterwards, the name “Author” carries weight.
The Media Wants to Hear From an Expert: Easy to put your evangelist in front of the press.
Leads Come to You: If you write a good book, it will be passed around and leads will seek you out.
Asked to Speak at Conferences: The author is the one that is asked to speak at conferences and events.
Prospects Ask for Your Brochure and Actively Share it With Others: When else would you hear someone say, can I please have your brochure, I’ll even pay you for it.
Major Retailers Advertise Your Products and Services: Amazon, Barnes & Noble, and other major retailers give you 3rd party credibility.
It’s Not About How Many Sell: Who cares how many copies sell if you can place your book in the hands of your prospects and they buy your products and services?
Great Gift: What a great way to meet people, place a gift in conference gift bags, send as a present to both your existing customers and new prospects.
Ghost/Collaboratively Written: You can have someone else write it for you or you can ask a bunch of experts to share their stories (e.g. “42 Rules for Driving Success with Books”) which adds credibility while building key relationships.

About the Author: Mitchell Levy is CEO and Author at Happy About where corporations can create their own branded set of books. He’s helped thousands of individuals succeed in business and he and his team will spend the time and effort necessary to make sure that you succeed. He is author of 11 business books, the latest is “42 Rules for Driving Success with Books” which is available at Amazon, Happy About and fine books stores everywhere.

Corporate Thought Leadership

Delivering Revenue Through Thought Leadership