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Business

Three Words for 2012: Crayons and Continuity

by Daria Steigman on January 3, 2012

Dancing Crayons, Business, WorkflowFor 2012, I’ve decided that I don’t need to reinvent the wheel.

Last year, I picked out 3 little words–crayons, velcro, and abandon–to guide my business. The whole point was to keep me focused on moving forward, while giving myself permission to take risks again. And to have fun and be creative.

I found the right guiding principles.

Since “a continuous or connected whole” (aka, continuity) is an asset, I’m going to keep these words front and center for another year.

What are your guiding principles for 2012?

Photo by evoo73 (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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1BandID is Branding, 1 Customer at a TimeWhat do you do when the big boys own all the shelf space?

One approach is to build a virtual shelf, one person at a time. That’s what Joe Vukson is doing.

I met Vukson via Twitter earlier this year after I saw a press release about a new runner ID product. I tweeted to a friend that I didn’t understand how the product was any different from what was already on the market. Vukson chimed in, asking me what I meant. So we started tweeting back and forth as I tried to explain that I didn’t see any competitive differentiation. (I was wrong, but more on that in a minute.)

It wasn’t until the conversation had run its course that I learned that 1BandID is his product.

The Virtual Shelf Works

1BandID has a competitive differentiator: Vukson himself. In addition to engaging with people one-on-one, the budding entrepreneur moderates an on-point bimonthly Twitter chat (#trichat) and manages an active Facebook page. And he’s a runner and triathlete, so he’s walking the walk as he builds his community.

The big boys may own the storefront space, but who would you rather buy from?  I’m sending people to 1BandID–because I know Joe.

Disclosure: Vukson sent me the red 1BandID pictured above. The best part: my running motto, “Forward Motion,” etched in there with all the contact info. But I hope you know that free swag does not influence what I choose to write.

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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Why Every Deal Is Not a Bargain

by Daria Steigman on December 12, 2011

sales, marketing, value, Independent ThinkingWhat’s up with the “2 for 1″ sales trend these days?

My thinking on pricing,  rates, and value is pretty clear. And I don’t understand why some people think every deal is a bargain:

  • “Buy 1, get 1 free” suggests the item is overpriced.
  • “Buy 1, get the second free (just pay separate shipping)” suggests the product is so cheap that all the profit is built into the shipping cost.
  • “Used to be [a lot more], but really great price today” tells me the product is pretty close to worthless. And no one’s buying it and we desperately want to get rid of our inventory.

I’m all fine with sales–everyone knows that’s a temporary drop in your profit margin. (And “2 for 1,” used judiciously, can serve that aim.) But when your business model is all about discounting, then I start to get worried.

What about you? Seen any deals lately that aren’t bargains?

Photo by Anthony Easton (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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What's holding you back in your business? IABC, Independent ThinkingSometimes you have to know when to let go:

The best small business owners are constantly innovating—rethinking a product, redesigning our Web sites, tweaking our marketing approaches, testing productivity tools and technologies. It’s what we do.

But we’re really bad at stopping the things that are part of our routine but shouldn’t be anymore. Like advertising in the yellow pages. Or sending a telex rather than a tweet. These might have been useful or cutting-edge at one time, but now they’re just eating up your resources and/or your attention.

My latest IABC business column is out, and it’s all about knowing when it’s time to fold.

For the past year, I’ve been struggling to figure out what content should be “held” for the column versus what I’m writing about here (let alone anywhere else). It’s become a chore, one more thing to do, without seeing a compelling business purpose to put the time into it anymore. So I’m letting it go.

Read the column here. There’s also a nice “Top 7″ editors’ picks list–their favorite Independent Thinking columns over the years.

What are you doing today in your business that you need to let go?

Photo by laffy4k (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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Shakespeare Theatre, customer experience, brand loyaltyI’ve talked before about how brand loyalty isn’t eroding (we’re just saving our loyalty for where we feel valued). Today I’m doing to share four lessons from an organization that just doesn’t get it: The Shakespeare Theatre.

Lesson #1: People are more likely to donate if they feel connected to you.

In 20 years, the Shakespeare Theatre only called me to ask for money. No one called just to find out how I liked my subscription, whether I had any concerns, or even just to say “thank you.” They never held a subscriber-only Q&A with cast members (at least they never invited me), or sent t-shirts, mugs, or even bookmarks to mark milestones (e.g., 10-year subscriber!), or any of the little things that say “we appreciate your business.”

Lesson #2: People are more likely to donate if they feel their donation matters.

The organizations that get donations from me year after year are the ones where I understand where my money’s going and that it’s getting good bang for the buck. Feeding America, for example, states upfront that “your gift makes a big impact–every dollar you donate helps provide 8 meals to families struggling with hunger.” The Shakespeare Theatre’s individual contributions page lists as a reason, “The incomparable Michael Kahn.” Huh? That would be like me setting up a foundation and listing “Daria Steigman’s running it!” as a reason to give.

Lesson #3: You need a CRM system that codes for quirkiness.

This year, I transferred my tickets to the friends who have been using most of the tickets over the last 2-3 years. (They’re good seats. We wanted to keep them “in house.”) I’ll probably go to one play, maybe two. But since the account is no longer in my name, the Shakespeare Theatre called me three times in rapid succession to ask about renewing. The first time I explained that I’d transferred the tickets. The second time I explained it again. The third time I told them to stop calling. “This season?” they asked. “No. Forever.”

Lesson #4: There’s a difference between subscribers and people who subscribe.

The first one is about numbers and dollars. The other is about, well, people. Savvy organizations know that the best way to guarantee the first is to truly value the second.

Photo by Mark Hillary (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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