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Posted in B2B, Brand Managment, Consumer Behavior, CRM, eMarketing, Management, Marketing Mix (New Concepts) with tags , , , , , , , , , , on December 1, 2011 by Consultant

Motivation and Morale – Relationship and Differences

Morale can be defined as the total satisfaction derived by an individual from his job, his work-group, his superior, the organization he works for and the environment. It generally relates to the feeling of individual’s comfort, happiness and satisfaction.

According to Davis, “Morale is a mental condition of groups and individuals which determines their attitude.”

In short, morale is a fusion of employees’ attitudes, behaviours, manifestation of views and opinions – all taken together in their work scenarios, exhibiting the employees’ feelings towards work, working terms and relation with their employers. Morale includes employees’ attitudes on and specific reaction to their job.

There are two states of morale:

High morale – High morale implies determination at work- an essential in achievement of management objectives. High morale results in:

  • A keen teamwork on part of the employees.
  • Organizational Commitment and a sense of belongingness in the employees mind.
  • Immediate conflict identification and resolution.
  • Healthy and safe work environment.
  • Effective communication in the organization.
  • Increase in productivity.
  • Greater motivation.

Low morale – Low morale has following features:

  • Greater grievances and conflicts in organization.
  • High rate of employee absenteeism and turnover.
  • Dissatisfaction with the superiors and employers.
  • Poor working conditions.
  • Employees frustration.
  • Decrease in productivity.
  • Lack of motivation.

Though motivation and morale are closely related concepts, they are different in following ways:

While motivation is an internal-psychological drive of an individual which urges him to behave in a specific manner, morale is more of a group scenario.
Higher motivation often leads to higher morale of employees, but high morale does not essentially result in greatly motivated employees as to have a positive attitude towards all factors of work situation may not essentially force the employees to work more efficiently.
While motivation is an individual concept, morale is a group concept. Thus, motivation takes into consideration the individual differences among the employees, and morale of the employees can be increased by taking those factors into consideration which influence group scenario or total work settings.
Motivation acquires primary concern in every organization, while morale is a secondary phenomenon because high motivation essentially leads to higher productivity while high morale may not necessarily lead to higher productivity.
Things tied to morale are usually things that are just part of the work environment, and things tied to motivation are tied to the performance of the individual.
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Posted in B2B, Brand Managment, Consumer Behavior, CRM, eMarketing, Management, Marketing Mix (New Concepts) with tags , , , , , , , , , , , , on December 1, 2011 by Consultant

Importance of Motivation

Motivation is a very important for an organization because of the following benefits it provides:-

  1. Puts human resources into action

    Every concern requires physical, financial and human resources to accomplish the goals. It is through motivation that the human resources can be utilized by making full use of it. This can be done by building willingness in employees to work. This will help the enterprise in securing best possible utilization of resources.

  2. Improves level of efficiency of employees

    The level of a subordinate or a employee does not only depend upon his qualifications and abilities. For getting best of his work performance, the gap between ability and willingness has to be filled which helps in improving the level of performance of subordinates. This will result into-

    1. Increase in productivity,
    2. Reducing cost of operations, and
    3. Improving overall efficiency.
  3. Leads to achievement of organizational goals

    The goals of an enterprise can be achieved only when the following factors take place :-

    1. There is best possible utilization of resources,
    2. There is a co-operative work environment,
    3. The employees are goal-directed and they act in a purposive manner,
    4. Goals can be achieved if co-ordination and co-operation takes place simultaneously which can be effectively done through motivation.
  4. Builds friendly relationship

    Motivation is an important factor which brings employees satisfaction. This can be done by keeping into mind and framing an incentive plan for the benefit of the employees. This could initiate the following things:

    1. Monetary and non-monetary incentives,
    2. Promotion opportunities for employees,
    3. Disincentives for inefficient employees.

    In order to build a cordial, friendly atmosphere in a concern, the above steps should be taken by a manager. This would help in:

    1. Effective co-operation which brings stability,
    2. Industrial dispute and unrest in employees will reduce,
    3. The employees will be adaptable to the changes and there will be no resistance to the change,
    4. This will help in providing a smooth and sound concern in which individual interests will coincide with the organizational interests,
    5. This will result in profit maximization through increased productivity.
  5. Leads to stability of work force

    Stability of workforce is very important from the point of view of reputation and goodwill of a concern. The employees can remain loyal to the enterprise only when they have a feeling of participation in the management. The skills and efficiency of employees will always be of advantage to employees as well as employees. This will lead to a good public image in the market which will attract competent and qualified people into a concern. As it is said, “Old is gold” which suffices with the role of motivation here, the older the people, more the experience and their adjustment into a concern which can be of benefit to the enterprise.

From the above discussion, we can say that motivation is an internal feeling which can be understood only by manager since he is in close contact with the employees. Needs, wants and desires are inter-related and they are the driving force to act. These needs can be understood by the manager and he can frame motivation plans accordingly. We can say that motivation therefore is a continuous process since motivation process is based on needs which are unlimited. The process has to be continued throughout.

We can summarize by saying that motivation is important both to an individual and a business. Motivation is important to an individual as:

  1. Motivation will help him achieve his personal goals.
  2. If an individual is motivated, he will have job satisfaction.
  3. Motivation will help in self-development of individual.
  4. An individual would always gain by working with a dynamic team.

Similarly, motivation is important to a business as:

  1. The more motivated the employees are, the more empowered the team is.
  2. The more is the team work and individual employee contribution, more profitable and successful is the business.
  3. During period of amendments, there will be more adaptability and creativity.
  4. Motivation will lead to an optimistic and challenging attitude at work place.

Posted in B2B, Brand Managment, Consumer Behavior, CRM, eMarketing, Management, Marketing Mix (New Concepts) with tags , , , , , , , , , on December 1, 2011 by Consultant

Maslow’s Need Hierarchy Model

Human behavior is goal-directed. Motivation cause goal-directed behaviour. It is through motivation that needs can be handled and tackled purposely. This can be understood by understanding the hierarchy of needs by manager. The needs of individual serves as a driving force in human behaviour. Therefore, a manager must understand the “hierarchy of needs”. Maslow has proposed “The Need Hierarchy Model”.

Self-actualization Needs
Esteem Needs
Social Needs
Security Needs
Physiological Needs

FIGURE – Maslow’s Need Hierarchy Model

The needs have been classified into the following in order:

  1. Physiological needs- These are the basic needs of an individual which includes food, clothing, shelter, air, water, etc. These needs relate to the survival and maintenance of human life.
  2. Safety needs- These needs are also important for human beings. Everybody wants job security, protection against danger, safety of property, etc.
  3. Social needs- These needs emerge from society. Man is a social animal. These needs become important. For example- love, affection, belongingness, friendship, conversation, etc.
  4. Esteem needs- These needs relate to desire for self-respect, recognition and respect from others.
  5. Self-actualization needs- These are the needs of the highest order and these needs are found in those person whose previous four needs are satisfied. This will include need for social service, meditation.

Posted in Brand Managment, Consumer Behavior, CRM with tags , , , , , , , , , , , , on November 30, 2011 by Consultant

Challenge the Status Quo! Take on a Dominant Market Player [Slide Show]

111118-01. Intro111118-02. 1. Establish your brand111118-03. 2. Build trust
111118-04. 3. Do something different111118-05. 4. Dive in111118-06. 5. Be patient
111118-01. Intro

We all learned on the playground in elementary school that it’s never a good idea to take on the big kid. That first physics lesson we learned—that larger objects push harder than smaller ones—reinforced that notion in our rapidly developing, dodgeball-obsessed minds.

But was that really an accurate lesson? After all, ordinary-sized David defeated giant-sized Goliath with nothing more than a pebble and a slingshot. So why can’t you? The answer is, You can! But to effectively beat the giant in your industry, you’ll need to focus on these five things.

111118-02. 1. Establish your brand

1. Establish your brand

As a startup, establishing your brand is the first and most important step in building a business. Coming in as a new player, you will encounter uncertainty about your brand from potential consumers who are unfamiliar with your name, products, quality, differentiation, etc. But you can use that to your advantage.

Humans have an innate curiosity and desire to explore. If you disagree, watch a young child be entertained for hours upon hours by ordinary objects, such as kitchen utensils or cell phones. Even though your target market has most likely grown out of playing with common objects for hours, that curiosity remains.

How can human curiosity benefit your brand? Draw on that human trait by positioning your business as something new and unique. Don’t give up all of your information up front; catch your targets’ interest and make them wonder. Their curiosity will take over and subconsciously motivate them to seek, search, and investigate, which will ultimately drive traffic to your website. Then, it’s your job to get them to stay.

So, how do you keep the market share you’ve gained?

111118-03. 2. Build trust

2. Build trust

Customers will not give you their money if they do not trust you. As a new company, you’ll have a hard time building trust via past buying experiences, because your target market has likely never before bought from you. So the next best way to build immediate trust is to identify with your customers on a personal level. Be transparent. As a small business, you actually have the advantage; you aren’t viewed as a faceless corporate monster. Use that advantage to develop closeness with your customers, and you can bet that they will multiply.

111118-04. 3. Do something different

3. Do something different

Whatever you do, don’t try to enter a market dominated by a major player by using the exact same business model as the Goliath. Customers’ brand loyalty to the “big kid” will quickly destroy your business. But finding a way to improve or diversify the market will create an avenue for you to compete.

For example, my company created a new pay-per-click (PPC) billing model that was completely unique in the automotive industry. Having a unique offering allowed us to quickly develop strong relationships with suppliers and create the critical mass necessary to start driving traffic (pun intended) to Netcars.com, our website.

But what if being different doesn’t work? Another benefit you have as a small, upcoming competitor is flexibility. Exxon Mobil might not be able to change its business model overnight, but Mom and Pop’s Convenience Store can. So listen to customer feedback, integrate it, and adapt.

111118-05. 4. Dive in

4. Dive in

We’ve all been in a situation where it was necessary to “test the water.” When I go to the pool, I dip my toe in first to see how cold the water is. But that’s not going to work in a market dominated by a major player.

When you dip your toe into a big pool, you hardly create ripples. On the other hand, doing a cannonball into the pool would create major waves all around you.

When taking on a major player, then, your goal is to disrupt the market—to do a cannonball into the market. So, make your entrance a massive push. Market like hell. Prepare for growth. Staff early. Get the right people on board, and then figure out where they fit into your business as the ripples grow.

After all, you get only one shot to launch.

111118-06. 5. Be patient

5. Be patient

Penetrating a concentrated market isn’t a game of Jenga. (In that game, pulling out one block could cause an entire tower to topple.) Instead, making an impact on the market is more of a marathon, not a sprint. Cheesy analogies aside, don’t expect to bring down the competition overnight.

Keep your brand consistent and unique, continue to innovate, and challenge the status quo. Time will bring results.

* * *

You’ll still have to find your own pebble, but I hope this information will be the slingshot you need to take on the Goliath that your company faces. Happy hunting!

Posted in Consumer Behavior, eMarketing, Marketing Mix (New Concepts), Search Engine Optimization with tags , , , , , , , , on November 29, 2011 by Consultant

What’s Wrong With Your Email: A Second Look at Proven Attention Grabbers

On any given day, between 20 and 50 pieces of unsolicited email sail past my spam blocker and into my inbox. When I worked in business development, I purged them indiscriminately. As I got involved with marketing, I skimmed through them occasionally for ideas and inspired copy.

Once I became a writer, I often edited the messages in my head—until the day a direct mailer arrived that set off all the “newbie” alarms and I had to intervene at once.

The following is my response to the emailer. Below that is the original email, with identifiable details withheld to ensure privacy.

* * *

Dear X.

 

I left Quartesian last year to become a full-time writer of digital marketing content, including direct email like the one I was lucky enough to receive from you.

Before that, I had spent four years in your shoes, trying to do both marketing and sales on a shoestring for a small ambitious B2B service provider. So, I hope you take this letter in the spirit in which it is written: one professional reaching out to another to share insight and offer support.

Getting Attention

Let me start with the subject line. When I get an email from a name I don’t recognize at a company I’ve never heard of with the subject line “Conference Call with Quartesian LLC,” I know right away that it’s spam. If my assistant doesn’t delete it for me, I will do so on my next break between meetings when I get a minute to glance at my BlackBerry.

A better choice would have been something like “WSJ says 40% of B2B providers will include mobile apps into their marketing budgets”—but only if it’s true. That way, the email promises to tell me something new or important, and I will be more likely to put it into a “read later” pile—or forward it to a colleague.

Making the First Impression

Let’s just say I opened your message in spite of the telltale subject line. I will delete it after I read the first sentence. Why? “I would like to get on your calendar” is the BD equivalent of “What’s your number?” Try using it as a pick-up line, and see what happens.

In a live conversation you would first introduce yourself and try to arouse my interest and build some trust. Emails are no different. Of course, stating your purpose up front is important. In your case, though, everyone knows that the purpose of “personalized” junk mail is to get a meeting.

A better use of the 30 seconds I will spend deciding whether to read the rest of your email is to show me what you know about my business that I don’t. For example: “Would you like to stay ‘top of mind’ with your best prospects while making their day a little better? That’s just what Mxx’s clients in the insurance, restaurant, airline, and many other industries are doing—with the help of our customized turnkey mobile app solutions.”

Captivating Your Audience

Does spam really work? Survey says yes, but only when it correctly addresses the needs of a specific buyer segment. But even if I laugh off your first sentence and keep reading, I will delete your message after I read the first paragraph.

Why? Because my clients are businesses. Though they are a hit with consumer brands, mobile apps are still a novelty in the B2B world.

By glossing over that important distinction, you make it clear that you don’t understand my business and will waste my time. A better approach would have been to create a separate version of the letter for the B2B segment (even better if you can make it industry specific)—showing the value of your solution to my business, or at least citing relevant market data.

Using Common Sense

Are white supremacist groups your core market? Or did you really expect to score points with corporate America by saying, “Our developers are best-of-breed, based in Nuremberg, Germany. We don’t outsource to India or other third-world countries—and never will”?

I am sure you know that most “respected” companies in your target group do outsource to the “third world,” as does my old employer, Quartesian. Besides, how do you know that I myself am not from there?

Making a Compelling Time-Bound Offer

$5,000 for a purebred German piece of code sounds outrageous. Even if you can afford to do it that cheaply, first year online MBA courses say you are not obligated to sell at cost.

The throw-away pricing reeks of desperation and casts a doubt over the existence of “the most respected” clients you alluded to earlier. Now I don’t think you have any clients at all.

You tell me that the price goes up next week. I don’t believe that either. I think Mxx is made up of amateurs who have no idea how to price, market, or sell a product. And at this point, I am not even sure that you have a product to sell.

Since Mxx already includes “a detailed list of competitive or similar apps on the market” with every job, why not use it as an introductory offer instead? There is a natural urgency to staying abreast of the competition. And what better way to showcase your expertise and the value of your product?

Ending on a Personal Note

So, after you’ve spammed my mailbox, obnoxiously requested to “get on my calendar,” ignored my real needs, insulted my company, and made a ridiculous offer followed up by an equally ridiculous sales push, you are ready to show me the fun and caring side of yourself with “I hope you are able to spend some quality time with your friends and family this past Easter weekend. I’ll be in London for the royal wedding, but available all next week.”

I too hope you spend some quality time this weekend. Then come back to work and write a sales letter that has a fighting chance.

While you are at it, think of other ways to spread the word about Mxx. Wouldn’t it be nice if those most interested in your product were able to find and contact you themselves—through strategically placed content?

If you need help wording your message or telling your story, you can get on my calendar anytime. The price will be the same next week. And I promise I won’t outsource your writing project to India.

Wishing you success,

Olga Taylor

* * *

April 28, 2011

Subject: Conference call with Quartesian LLC

Dear Olga:

I would like to get on your calendar to speak with you about mobile app development. We develop apps on the iPhone, iPad, Blackberry, Symbian, Android, and Windows Portable Media platforms. Our speciality is developing apps that are multi-platform for the same cost others charge for a single device. We offer a turn-key solution. Simply tell us your goals, give us a list of the apps you like the most, those you like the least, describe the basic functionality you require, and we will take it from there.

Our process is truly unique. We write the technical specification documents for you. We provide a detailed list of competitive or similar apps on the market today. We design the interface for the app, provide a working prototype, detailed wireframes and documention PRIOR to writing the first line of code. Our creative team ensures the look and feel of your app matches your brand. We can create apps for less than half the cost of other developers because we leverage existing code for basic functionality. Our developers are best-of-breed, based in Nuremberg Germany. We don’t outsource to India or other third world countries—and never will.

Our development efforts are used by many of the most respected banks, insurance companies, airlines, casinos, cruiseliners, restaurants, retailers, rental car companies, law firms, pharmaceutical companies, hospitals, telephone and utility companies. Our introductory program is limited to one per company and this provides all of the aforementioned functions for only $5,000 until May 1st. ($10k thereafter)

I’ve asked my executive assistant S. H. to call your office to arrange a time for us to speak. I’ll provide a web-ex style presentation that will focus on how we can best meet your mobile needs. I only need to know a) desired devices, b) overview of functionality, c) your favorite app with similar functionality d) name of project, e) min and max budget and f) timeline for delivery of product. I hope you are able to spend some quality time with your friends and family this past Easter weekend. I’ll be in London for the royal wedding, but available all next week.

Sincerely,

X. Y.
Executive Vice President Business Development, Mxx, Inc.

Posted in eMarketing, Marketing Mix (New Concepts) with tags , , , , , , , , on November 29, 2011 by Consultant

B2B Marketing: Why Generating Leads Isn’t Enough Anymore

If you’re like most B2B marketers, you diligently plan and execute campaigns to drive new opportunities and, ultimately, increase revenue. But unless you’re ready to rethink marketing’s role, you may be throwing precious budget dollars out the window and missing opportunities to drive real customer value.

Customer buying behavior is evolving, and demand management is evolving along with it. Today’s B2B marketers can’t focus only on generating leads and turning them over to Sales. They need a new process for creating effective, targeted programs that hit the right people at the right time via the appropriate channel.

Here are four key steps to ensure your B2B marketing evolves to meet today’s challenges.

1. Develop a lead-management process

Marketing and Sales must work together to design a more integrated—and collaborative—process that addresses goals, metrics, and activities at crucial lead stages.

That process includes…

  • Identifying key business drivers to optimize demand generation
  • Mapping out the customer lifecycle (from suspect to prospect, lead, and customer)
  • Building marketing programs for nurturing and qualification
  • Defining a Sales-ready lead
  • Determining how leads should be passed to Sales and tracked

2. Master your customer data

Organizations might have thousands, or even millions, of contacts from tradeshows, partner events, and old website leads. And data from social media monitoring and capture have added to the volume of data that organizations have to sift through. Developing marketing initiatives for an unwieldy database results in wasted budget and resources—and, more important, missed revenue opportunities.

You need a data strategy to develop a comprehensive view of your customers and their interactions. That means starting with a clear understanding of what customer data you have today—from all available sources—and where there are gaps.

The sources of information that feed the database are critical; just as critical, however, is how that information is collected, stored, and managed… because that’s what will help you make decisions about to whom you should market.

Define your customer

Who in your customer’s organization is the buyer of the services that your company sells? Who influences the sale? Who approves it? A multilevel view will help you target messaging and better arm your sales force with the information it needs.

Cleanse and standardize your data

In B2B marketing, obtaining prospect information, such as company, title, contact name, and email address, is paramount. Use reference libraries to standardize domestic and international mailing addresses. Implement email address formatting and domain validation to ensure higher deliverability.

Match the data

Data-matching is about creating links between records from various data sources to create a richer, more accurate customer profile. B2B matching is complex because of the variations in company naming conventions and sites that can span addresses. As a best-practice, you should continually refine and test your matching rules based on results.

Generate insight

Once you have the data, you’ll need to generate insight on the following.

  • Whom to target
  • What stage of the cycle your target is in
  • What products or services your target is interested in
  • How your target likes to be contacted or receive information
  • What the cadence of communication should be

3. Become a content marketer

These days, buyers are more likely to take the initiative. Long before they talk to a sales rep, buyers go online for product information, comparison-shopping, and peer recommendations via social media. If you’re going to engage with those potential customers, you must win their trust and build a relationship by providing objective, informative content.

Once you’ve generated content, use it across different channels and touchpoints. Consider writing a case study, opinion, or best-practices piece, and then repurposing it for your website, blog, Twitter stream, and outbound email.

Remember, this isn’t the time to sell! Instead, focus on answering the questions prospects may have early in their buying process, and position your company as the helpful expert. Offer independent research or third-party thought leadership that supports your solutions. And encourage a permission-based ongoing dialogue so that you can stay in touch (and stay top-of-mind) as the buyer gets closer to a decision.

4. Embrace multiple channels and measurement

Go beyond email marketing to ensure you are reaching your targets via their preferred channels. How do you determine the right marketing mix and cadence of communications? One word: test.

The optimal mix of the best message, channel, and timing depends on your company and its customers. Start with a baseline, and work in easy A/B tests (challenger, champion). As the program matures, you can add multivariate tests—but keep it simple in the beginning.

Set up a measurement plan before executing any marketing program.  Nothing is worse than realizing after the first campaign has gone out that measurement was left off the table and you now have to scramble to answer that ever-important question: So how’s the campaign doing?

* * *

Many marketers recognize that they face challenges in one or more areas outlined in this article. For example, you might have the vision and the organization for success, but legacy systems limit your ability to market effectively. Or, you have data, but no data strategy to determine what to keep, what you’re missing, what’s of value, and how to derive insight. Or maybe you want to be more customer-centric, but you organize around product lines or channels.

By ensuring that your B2B marketing evolves, you can…

  • Identify gaps in customer information.
  • Decrease marketing expenditures and waste.
  • Improve the quality and deliverability of campaigns.
  • Invest in customer segments based on value.
  • Improve the return on marketing investment.

Moreover, you will seem a more critical and vital partner—with Sales and the rest of the company—in generating top-line revenue growth while being accountable for the costs of generating that revenue. That perception will make it easier for you to justify additional investments in marketing and protect you from cutbacks in tough times.

Posted in Consumer Behavior, eMarketing, Marketing Mix (New Concepts) with tags , , , , , , , , , on November 28, 2011 by Consultant

Consumer Behavior and Marketing Strateg

 The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how
  • The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products);
  • The the psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media);
  • The behavior of consumers while shopping or making other marketing decisions;
  • Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;
  • How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and
  • How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.

Understanding these issues helps us adapt our strategies by taking the consumer into consideration. For example, by understanding that a number of different messages compete for our potential customers’ attention, we learn that to be effective, advertisements must usually be repeated extensively. We also learn that consumers will sometimes be persuaded more by logical arguments, but at other times will be persuaded more by emotional or symbolic appeals. By understanding the consumer, we will be able to make a more informed decision as to which strategy to e