Grow or die! Product fertilizer to grow your top line

Apologies on the overly dramatic, “please-read-me!” title. I figured I’d jump into the pool with the rest of the bloggers attempting to get the attention of the 1.6 billion of you bouncing around the virtual world.

Anyhow, you’re probably familiar with the phrase, “whatever stops growing eventually dies”. And, while I don’t subscribe to this black & white, morbid declaration, we all know that when it comes to your business, growth is essential.

So in the spirit of doing my little part to help get our economy back on its feet, I’ve decided to write a series of brief articles about different growth drivers (tools, frameworks) you can use to grow your products & your business, and perhaps even add a few inches to your height. So let’s get started…


Growth driver #1: develop different versions of your product to suit different usage scenarios

Take mustard. Yes, mustard.

You’re at a baseball game with some friends. Perhaps you’ve enjoyed a few beers. You head out to one of the fine stadium restrooms to reduce your inner-bladder pressure, and you decide to pick up a hotdog on your way back to your seat. Guldens, right? The perfect neon-yellow goo to spread on your ‘dog. No questions asked. Right place, right time. Guldens all the way.

Flash forward 2 months. You find yourself at a very formal cocktail party. Pinkies out, fancy degrees flying about, drinks you would otherwise never drink, people doing their best to inject British-inflexions. You make your way over to the hors d'oeuvre table and sample a selection of finely smoked meats. Grey Poupon, anyone? Again, no questions asked. Right place, right time. It’s a Grey Poupon moment.

(sorry, I just couldn't help but include the most classic Grey Poupon commercial ever produced. enjoy!)



Let's put aside the mustard and put growth driver #1 to work for you:
1. Make a list of the different situations in which your product or service is used (or needed).

2. For each scenario you’ve identified, jot down those characteristics or dimensions that make it different from the other scenarios on your list. Characteristics could include the physical environment, the people you’re with, your main objective at the time you use the product, your main reason for needing the product, the time of year, the activity you’re engaged in at the time you need the product, etc.

3. For each scenario ask yourself what changes you could make to your service in order to provide greater value to your customers given the unique characteristics of the situation.

Examples could include adding complementary services, increasing or decreasing the performance level of certain features or dimensions, adding or eliminating certain features, making changes to physical dimensions of the product, etc. Whatever you come up with, it should be dictated by the unique needs of your customer under the given scenario.

Real-world examples of growth driver #1. Different versions of the product for different usage occasions.

• Candles: For romantic dinners, for keeping the bugs away when camping, for festive holidays, for scenting the air, for birthdays.
• Travel insurance: For safaris, for ski trips, for family vacations, for cruises, for long-stay trips, for international trips.
• Suits: For hot climates, for formal events, for casual events, for outdoor events, for weddings, for funerals.

What other examples can you think of? Please share them with us in your comments.

Happy growing!

-------

Additional posts that discuss growth strategies:

• Innoviation via other worlds: a tool for generating powerful ideas for your business
• Enhance your innovation by tapping your product's value-creation web

Great books that discuss scenario-based product innovation:

• Marketing Imagination, New, Expanded Edition 

• The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty

• What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services
  

read more

Grow or die! Product fertilizer to grow your top line

Apologies on the overly dramatic, “please-read-me!” title. I figured I’d jump into the pool with the rest of the bloggers attempting to get the attention of the 1.6 billion of you bouncing around the virtual world.

Anyhow, you’re probably familiar with the phrase, “whatever stops growing eventually dies”. And, while I don’t subscribe to this black & white, morbid declaration, we all know that when it comes to your business, growth is essential.

So in the spirit of doing my little part to help get our economy back on its feet, I’ve decided to write a series of brief articles about different growth drivers (tools, frameworks) you can use to grow your products & your business, and perhaps even add a few inches to your height. So let’s get started…


Growth driver #1: develop different versions of your product to suit different usage scenarios

Take mustard. Yes, mustard.

You’re at a baseball game with some friends. Perhaps you’ve enjoyed a few beers. You head out to one of the fine stadium restrooms to reduce your inner-bladder pressure, and you decide to pick up a hotdog on your way back to your seat. Guldens, right? The perfect neon-yellow goo to spread on your ‘dog. No questions asked. Right place, right time. Guldens all the way.

Flash forward 2 months. You find yourself at a very formal cocktail party. Pinkies out, fancy degrees flying about, drinks you would otherwise never drink, people doing their best to inject British-inflexions. You make your way over to the hors d'oeuvre table and sample a selection of finely smoked meats. Grey Poupon, anyone? Again, no questions asked. Right place, right time. It’s a Grey Poupon moment.

(sorry, I just couldn't help but include the most classic Grey Poupon commercial ever produced. enjoy!)



Let's put aside the mustard and put growth driver #1 to work for you:
1. Make a list of the different situations in which your product or service is used (or needed).

2. For each scenario you’ve identified, jot down those characteristics or dimensions that make it different from the other scenarios on your list. Characteristics could include the physical environment, the people you’re with, your main objective at the time you use the product, your main reason for needing the product, the time of year, the activity you’re engaged in at the time you need the product, etc.

3. For each scenario ask yourself what changes you could make to your service in order to provide greater value to your customers given the unique characteristics of the situation.

Examples could include adding complementary services, increasing or decreasing the performance level of certain features or dimensions, adding or eliminating certain features, making changes to physical dimensions of the product, etc. Whatever you come up with, it should be dictated by the unique needs of your customer under the given scenario.

Real-world examples of growth driver #1. Different versions of the product for different usage occasions.

• Candles: For romantic dinners, for keeping the bugs away when camping, for festive holidays, for scenting the air, for birthdays.
• Travel insurance: For safaris, for ski trips, for family vacations, for cruises, for long-stay trips, for international trips.
• Suits: For hot climates, for formal events, for casual events, for outdoor events, for weddings, for funerals.

What other examples can you think of? Please share them with us in your comments.

Happy growing!

-------

Additional posts that discuss growth strategies:

• Innoviation via other worlds: a tool for generating powerful ideas for your business
• Enhance your innovation by tapping your product's value-creation web

Great books that discuss scenario-based product innovation:

• Marketing Imagination, New, Expanded Edition 

• The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty

• What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services
  

read more

Show-Don't-Tell Marketing: enhance your marketing communications by using "picture-words"

"Show, don't tell!"
Yes, that annoying piece of feedback you received from your your 6th grade English teacher in creative writing class is as important for marketers to practice as it is for writers of fiction.

Let’s illustrate the point by looking at the following tag lines:

• "Use Lowenstein’s fertilizer and ensure the health & vitality of your lawn!"
• "Use Lowenstein’s fertilizer – it’ll make your lawn so green, so thick, and so soft you’ll ditch your bed and sleep outside on your grass!"

So how do these two tag lines differ? (Other than the 1 sentence vs. 2 sentence thing)

Unlike tag line 2, you can’t see tag line 1 in your mind’s eye. T1 uses non-visual, conceptual words like "health" and "vitality". T2 goes the visual route. It paints a picture in your head - you sleeping on a plush bed of the greenest grass.

Tag line 2 brings the benefits of Lowenstein’s fertilizer to life. Tag line 1 requires that YOU bring it to life, which requires mental energy – a non-starter for today’s consumers.

An easy tool for improving your sales & marketing copy

Step 1 - Assess
Take your sales copy, email campaign, landing page or what have you, and ask:

• Do the words paint a picture in my mind? How vivid is that picture?
• Does the picture clearly express the core benefit of my product? (Why paint a beautiful picture that doesn’t help sell your product?)

Step 2 - Identify
Identify the conceptual/abstract words in your copy – those words that don't paint clear pictures in your head.

Step 3 - Improve
Take the list of conceptual words you identified in Step 2 and do either of the following:

• Replace these conceptual words with visual counterparts
• Add visual words to your copy that bring your conceptual words to life. For example, if you're using the word "healthy", you can add visual words like "32-inch waistline", "glowing, beautiful skin", "well-sculpted muscles", etc.

In closing... whether your 6th grade English teacher had strong coffee breath, a grating voice, or a curious way of holding his chalk, when he shouted those three little words, “Show, Don’t Tell!” he was speaking the Marketing Gospel. Heed his words. Because if the consumer can't see the benefits he'll receive from your product, the consumer won't buy it. Amen.

read more

Show-Don't-Tell Marketing: enhance your marketing communications by using "picture-words"

"Show, don't tell!"
Yes, that annoying piece of feedback you received from your your 6th grade English teacher in creative writing class is as important for marketers to practice as it is for writers of fiction.

Let’s illustrate the point by looking at the following tag lines:

• "Use Lowenstein’s fertilizer and ensure the health & vitality of your lawn!"
• "Use Lowenstein’s fertilizer – it’ll make your lawn so green, so thick, and so soft you’ll ditch your bed and sleep outside on your grass!"

So how do these two tag lines differ? (Other than the 1 sentence vs. 2 sentence thing)

Unlike tag line 2, you can’t see tag line 1 in your mind’s eye. T1 uses non-visual, conceptual words like "health" and "vitality". T2 goes the visual route. It paints a picture in your head - you sleeping on a plush bed of the greenest grass.

Tag line 2 brings the benefits of Lowenstein’s fertilizer to life. Tag line 1 requires that YOU bring it to life, which requires mental energy – a non-starter for today’s consumers.

An easy tool for improving your sales & marketing copy

Step 1 - Assess
Take your sales copy, email campaign, landing page or what have you, and ask:

• Do the words paint a picture in my mind? How vivid is that picture?
• Does the picture clearly express the core benefit of my product? (Why paint a beautiful picture that doesn’t help sell your product?)

Step 2 - Identify
Identify the conceptual/abstract words in your copy – those words that don't paint clear pictures in your head.

Step 3 - Improve
Take the list of conceptual words you identified in Step 2 and do either of the following:

• Replace these conceptual words with visual counterparts
• Add visual words to your copy that bring your conceptual words to life. For example, if you're using the word "healthy", you can add visual words like "32-inch waistline", "glowing, beautiful skin", "well-sculpted muscles", etc.

In closing... whether your 6th grade English teacher had strong coffee breath, a grating voice, or a curious way of holding his chalk, when he shouted those three little words, “Show, Don’t Tell!” he was speaking the Marketing Gospel. Heed his words. Because if the consumer can't see the benefits he'll receive from your product, the consumer won't buy it. Amen.

read more

How to unleash the power of context and turbo-charge your marketing

There are few more powerful insights you can generate than learning the main contexts in which demand for your product/product category arises. Having such knowledge will allow you to elevate your marketing and develop deeper, more profitable relationships with your customers.

------------

Step 1: identify the most frequent demand contexts
The first step in unleashing the power of context is to identify the different contexts in which demand for your product is triggered. Think of yourself as a detective attempting to answer the questions:

• Under what situations do people become interested in my product?
  
• What triggers their interest in my product? (Events, changing circumstances, etc.)
  

In sleuthing your way to an answer, you may find that there is a series of events that take place before demand is sparked. You will also likely learn that there are several distinct demand contexts for your product, some of which will occur with far greater frequency than others.

Your key objective in step 1 is to assemble a list of those demand contexts that account for at least 75%-80% of total demand for your product/product category.


Step 2: ask the 6 power-questions to elevate your marketing strategy
For each of the most frequently occurring demand contexts for your product, ask the below six questions:

1) How can I tweak or reconfigure my product to better meet the consumer need in the given context?

2) Are there complementary products or services I should consider offering, whether though my company or a partner?

3) How might I adjust my pricing to better reflect the value provided by my product within the given context?

4) How can I more effectively communicate & position the value provided by my product within the given context? Is there specific imagery, tonality & language I should use in my marketing communication?

5) Are there any changes I should make from a channel perspective, whether it be my channels for building awareness, for selling, or for servicing customers?

6) How can I detect when demand has been triggered for this given context? Can I actually identify these people with some degree of certainty? (Dig deep to answer this crucial question. There is almost always a way)
(Note that some of the questions may not be pertinent for certain product categories and demand contexts)


Let's make this pop! with a brief real-world example

Product du jour: Cars

Step 1: identify the most frequent demand contexts for cars
-The lease is expiring on the existing car
-The price of gasoline jumps and the person owns a gas-guzzler**
-The car is old & worn out (tail pipe tickling the pavement, etc.)
-The car died & resuscitating it would cost a whole lot of money
-The person is moving from the City to the ‘Burbs

Step 2: ask the 6 power-questions for each frequently-occurring demand context for cars
**Below I've answered the questions for the demand context in which the price of gasoline jumps and the person owns a gas-guzzler

1) How might we tweak our cars to better meet the needs of the owners of gas-guzzlers?
We could develop a fuel-efficient car or one that could run on cheaper types of fuel (given the long R&D cycle for new models, auto companies are always best suited to have such a model either always available for sale or one that can easily be ramped up for production)

2) Are there complementary products or services we should consider offering, whether though our company or a partner?
We could develop services or partnerships that would cheapen the price of gas - e.g., partner with credit card companies to develop attractive cash-back rewards on gasoline purchases

3) How might we adjust our pricing to better reflect the value that our cars provide to owners of gas-guzzlers?
Consumers who are feeling increasing pain at the gas pump are likely willing to pay more for a car that will significantly reduce their “gas pains”... Then again attempting consumer-level pricing can be tricky and a risky move from a brand perspective (not to mention the current distribution structure for cars does not readily lend itself to such a pricing strategy).

4) How can we more effectively communicate & position the value provided by our cars to owners of gas-guzzlers? Is there specific imagery, tonality & language we should use in our marketing communication?
We could position our cars as “fuel-smart” alternatives that could save them thousands of dollars, which could be put towards more enjoyable things than gasoline, such as a much-needed vacation in the Caribbean(!)

5) Are there any considerations we should make from a channel perspective, whether it be our channels for building awareness, selling, or servicing?
(Response not included to maintain brevity)

6) How can we detect when this demand trigger has been fired? Can we identify the owners of gas-guzzlers during a spike in gas prices?
Knowledge of rising gas prices is a layup - CNN & our local gas stations would make any major rise in gas prices abundantly clear. And, there are a number of ways to identify owners of “gas-guzzlers” with fairly good precision, starting with identifying the geographic distribution of SUV sales & SUV dealerships.


Your assignment
1) Select one of your products or services – especially one that you believe has the most “improvement potential” & could provide the most upside for your business.

2) With a pad & pen in hand, walk the product through Step #1. Also, ask colleagues and friends & family to complete Step #1. And, hold a brainstorming session if timing & calendars permit. (I’ve always found the collective IQ of a good group to be far greater than any one individual flying solo)

3) Take each of your top demand contexts and run through Step #2. For this step it is particularly valuable to hold a brainstorming session or two, as the collective brainpower of your colleagues in this step can be the difference between a $1mm idea and a $10mm idea.

4) Share your experience with us here on the blog, including any interesting things you learned from the process and, of course, any successes you have to-date.


A note on business strategy & demand context
In a future post I’ll be writing about the role that the demand contexts of your product should play in (re)designing your business strategy. Depending upon a number of factors including the economics of your business and the positioning of your brand, there are likely certain demand contexts that you would want to focus your efforts upon. More to come on this, so stay tuned...

And, as always, please feel free to leave a comment, question or shout-out.

Sources: car demand contexts based upon 2005 study by the American International Automobile Dealers (AIADA).

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