Another study in the past few months looked at how the recession affects shopping habits – and turned up a surprising finding.  Wealthier shoppers were at least twice as likely to turn their backs on their preferred brands if a competitor was offering a special promotion, and were also far more likely to switch stores…

How quickly can you name your ten biggest clients or customers?  Now, just as quickly, what percentage of your total profits do they represent?  If yours is like many companies, a relatively small percentage of your customer base drives the majority of your profits.  More questions, then.  Do these ten KNOW they’re your best customers? …

Earlier this year, a survey found that 23% of small business owners had cut back on marketing.  What if they had asked how many are doing more marketing – maybe not spending more, but doing more?  Here’s why it matters.  A more recent survey showed that when a business advertises less in this economic environment,…

Realtors often recommend neutral colors for a house you’re trying to sell.  The reason?  Buyers need to be able to imagine themselves living in your home, and other colors can create a barrier.  Now look at your business.  How do you want customers to imagine the end result or benefit of doing business with you? …

We’re not talking about your waistline.  We’re talking about the franchise.  When the first Krispy Kreme store opened in New York City, it had none of the name recognition it enjoys in the South.  The solution?  A direct mail campaign inviting Big Apple residents who were alumni of southern universities (and so were likely to…

A recent survey suggested that 75% of bank customers were unlikely to switch banks right now.  Good news for bankers?  Maybe.  But 7% said they were likely to switch in the next three months.  That means that 1 out of every 15 bank customers is ready to walk.  Two questions for bankers.  How can you…

Even with the flood of new media, it’s tough to get the attention of the press for your business.  So it pays to think about two people.  First, consider the journalist.  He/she is probably part of a shrinking staff, expected to do more than ever and to do it more quickly.  At the same time,…

Around 1980, Kodak did research that showed that the preference for film over digital photography would last through the 1980s.  And it did.  But instead of using that time to shift gears, Kodak’s management used the study to cling to film and continued to regard digital photography as the enemy, in spite of the fact…

Moms control 85% of all household spending.  But nearly three quarters of them believe marketer’s don’t understand them, and 60% think marketers simply ignore their needs.  And increasingly, the way to reach those moms is online.  That’s especially true of younger mothers, who spend more time online than with radio, magazines and newspapers combined.  A…

1. Get More “A”s It’s an axiom that your “C” clients or customers consume as many resources as your “A” clients, but at a fraction of the profit.  So create a profile of your ideal or “A” customer, then market to that profile.  It’s like your mom said: “Why settle for Cs when, if you…