Trust and Boundaries – Making Sure Your Retailer Isn’t Ripping You Off
One of my greatest responsibilities as a parent is to teach my daughters how to have healthy relationships. My wife and I talk about gratitude, support, empathy and the different types of love but the one thing I seek to really teach my daughters is the concept of boundaries. Relationships are healthiest when based on mutual benefit and fair give and take. Where it gets difficult is when we enjoy some benefits like companionship and laughter, but still are subject to the other party crossing…
VISA’s Olympic Fail
Starting now, VISA will flood our eyeballs, minds and hearts with brand advertising. VISA has become the quintessential Olympic advertiser. They bring the best running footage of athletic celebrities like Michael Phelps and the endearing shots of fierce little girls sticking the landing. Other than Dirt Devil’s puppies of the 90s, I can’t recall a better example of brand advertising. They’re evocative, positive, heart-rending and consistent. Morgan Freeman is the perfect voiceover too,…
Your Ad May Be Smart, But Will It Take on the Gold?
If you think a lot of advertising dollars are spent on the Super Bowl, just wait. With billions of dollars in advertising spend expected around the Olympic Games this year, commercials will be sloshed across our televisions as companies work to impress upon us that they are Olympic-worthy brands. This technique of advertising is known as “association.” By Coke, VISA, Citi, McDonalds and Proctor & Gamble taking major sponsorship placements with the Olympics, they hope to associate…
No Two Customers Are Alike
Customer A might be profitable. They might require less hand holding, purchase (and use!) your top product and refer others to you. Whatever the reasons are, the reality is all the same, not all customers are created equal. Now, let’s scale the discussion. What if you have 2,200 customers or even 1.6MM? If you segment those customers by profitability, you’re likely to find the top segment delivers more than twice the profits than your average customer. In fact, it’s probably true that…
If the Truth Hurts, Let It
My partner, Maribett Varner, recently said “Ken you’ve never met a consultant you didn’t like.” Over the past few years I have begun engaging consultants for their specific areas of expertise. At one point I had two compensation consultants, a business process guru, and a pricing strategy engagement all at once. Right now I have four different subject matter experts on retainer advising us on various strategic initiatives. Last year I had a moment of clarity after receiving a…