Although it wasn’t my original plan to hold an Albert Einstein quote-fest, we might as well round out the regular week (pre-Friday’s Fun Finds) with one more. This one is especially for my friends in religious publishing:“Science without religion is lame, religion without science is blind.”
Of course my use of this quote twists Al’s original meaning—in this context “religion” refers to both a book category and type of mission, and “science” means the numbers-based marketing (vs. the creative) that I've been writing about lately. So liberties taken, I admit, but I couldn’t resist. 'Hope the great professor won't mind.
In my last post I promised some example of those “translator” and “bridging” questions that help marketers find the actionable information within research and data. One way to approach this is to group your key questions into categories to make sure you're asking a balanced spread. Here are some categories to consider and just a few sample questions:
1. CUSTOMERS. Think about your data in terms of two main criteria: a) creating more customers, and b) creating more active customers. Then within these two criteria are many, many questions you can pose. Ex. Translator Questions: “Customer group X is very active in purchasing Product A: What need, fear or desire does Product A answer for them?” “How much of Related Product B do they buy and how does this better define that motivating need, fear, or desire?” Bridging Questions: “How can I empower this active group to become customer evangelists?” “How can I revised my market positioning and sales messages to better address the identified motivator?" TIP: Remember when looking at customer data to consider both rate of order and size, then form your translator-bridging questions to examine these.
2. OFFERINGS. Again there’s two major criteria : a) selling more new products or services, and b) selling more exisiting products or services. And again, there's a vast array of questions you can pose to find usable information. “Product C is selling better than Product D; what are the needs, fears or desires behind this behavior?” Ex. Bridging Questions: "How do I adapt the strong-selling Product C into a new product in a different medium or form that responds to this same key motivator?" "How do I build a service-product that supports physical Product C?" "How do I capitalize on the strong sales of Product C to sell more of Product D?" OR, Translator Questions: "What do the categories or lines of products that are selling well tell me about my existing customers' motivations?" "What recurring patterns (3x or more) can I identify that are positive for my business or negative?” Bridging Questions: “In my promotions to these same customers, how can I better highlight the ways that products in other categories or lines provide solutions to this same motivation?” “How can I use these reoccurring patterns to selling more new product?” “—To sell more existing product?”
In my last post I promised some example of those “translator” and “bridging” questions that help marketers find the actionable information within research and data. One way to approach this is to group your key questions into categories to make sure you're asking a balanced spread. Here are some categories to consider and just a few sample questions:
1. CUSTOMERS. Think about your data in terms of two main criteria: a) creating more customers, and b) creating more active customers. Then within these two criteria are many, many questions you can pose. Ex. Translator Questions: “Customer group X is very active in purchasing Product A: What need, fear or desire does Product A answer for them?” “How much of Related Product B do they buy and how does this better define that motivating need, fear, or desire?” Bridging Questions: “How can I empower this active group to become customer evangelists?” “How can I revised my market positioning and sales messages to better address the identified motivator?" TIP: Remember when looking at customer data to consider both rate of order and size, then form your translator-bridging questions to examine these.
2. OFFERINGS. Again there’s two major criteria : a) selling more new products or services, and b) selling more exisiting products or services. And again, there's a vast array of questions you can pose to find usable information. “Product C is selling better than Product D; what are the needs, fears or desires behind this behavior?” Ex. Bridging Questions: "How do I adapt the strong-selling Product C into a new product in a different medium or form that responds to this same key motivator?" "How do I build a service-product that supports physical Product C?" "How do I capitalize on the strong sales of Product C to sell more of Product D?" OR, Translator Questions: "What do the categories or lines of products that are selling well tell me about my existing customers' motivations?" "What recurring patterns (3x or more) can I identify that are positive for my business or negative?” Bridging Questions: “In my promotions to these same customers, how can I better highlight the ways that products in other categories or lines provide solutions to this same motivation?” “How can I use these reoccurring patterns to selling more new product?” “—To sell more existing product?”
4. DISTRIBUTION CHANNELS. Some criteria: a) products sales by the means used to reach a market, and b) customers activity by the means used to reach a market.
Ex. Translator Question: “Which categories or types of products are selling best through which distribution channels?” “Which markets are responding best to which distribution channels?” Bridging Questions: “Can I increase or better focus my promotional budget to target particular products only in particular channels?” “Can I increase awareness in a given market that my products are available through this favored distribution channel?” “Is there a new or better way to reach my market?” “Can I more effectively partner with key players in underperforming distribution channels?”
5. BUSINESS UNITS. You want to know what the data tells you about the health of your business and its preparedness for the future. You are looking for actionable information that you can apply now so that your business will be where it needs to be in two, three, or five years down th road. Ex. Translator question: “Which categories do my most profitable offerings fall into? Is it all the same category?” Bridging question: “Am I properly diversified? How can I weather a downturn in that particular market or niche?”
There's a few more categories that I'd add to this list in order to achieve a well-rounded, balanced view—and I'd also advise a close look at specific marketing tactics or promotions—but this is a good start. Monday's post will follow-up with a few general principles and guidelines.
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