Consumers are private individuals buying for themselves and their families but how do they choose what to buy out of all their options?
Obviously it is going to vary based on the product. Someone won’t buy a car using similar value attributes to buying pet food for their dog.
Are there common value attributes for these B2C deals and relationships? (B2C refers to business-to-consumer.)
Strategy consultants Bain think so and shared their thoughts in an article in the Harvard Business Review.
The Elements of Value by Eric Almquist, John Senior and Nicolas Bloch from the September 2016 Issue. (You can read the full article on the HBR website and two others for free.) [continue reading…]
Buying has changed a lot since the Internet became popular, both for consumers and for B2B buyers. I’m looking at consumers in a separate article so here I want to answer the question…
What Do B2B Buyers Value When Making Buying Decisions?
To answer it, I’m summarising an excellent article in the Harvard Business Review:
The B2B Elements of Value by Eric Almquist, Jamie Cleghorn and Lori Sherer from the March–April 2018 Issue (You can read the original here).
Bain, the strategy consultants have produced 40 elements of value which they fit into five major categories. They have also look at what consumers value when buying.
The Main Categories of B2B Values
The full title of this book by Mickhael Keidge is
50 Secrets to Write Google Ads Titles that Sell
In my review posted on Amazon.co.uk, I gave the book a 2 Stars rating. This means it is Disappointing.
Here is my book review.
Disappointing, an opportunity missed
I like the idea of a specialist book to help you write Google Ads. They are much expanded from the old days when the too line was 25 characters and the only two other lines each had 35 characters.
Sadly this isn’t it.
The book launches straight into the tips. No explanation of the author and why you should listen to him. No explanation of what the author means by the title in the Google ads
Then we get to the secrets themselves and these are grounded in good marketing practice.
My issue is there aren’t any examples to clarify what the author means. This makes it hard to understand what is meant by the short comment about each secret.
I borrowed it in my Kindle unlimited subscription. I’m glad I didn’t buy it.
I’m left thinking that, if the author is an expert in writing Google Ads, that this is an opportunity missed.
Get To Know Me
The full title of this book by Dan Kennedy is
Magnetic Marketing: How To Attract A Flood Of New Customers That Pay, Stay, and Refer
In my review posted on Amazon.co.uk, I gave the book a Five Stars rating. This means it is Excellent and Very Highly Recommended.
Here is my book review.
Another tasty morsel from a master of direct marketing
Magnetic Marketing is the name of the author’s most famous premium priced course and it’s the one that has helped make his excellent reputation.
Kennedy didn’t invent direct response marketing – its origins go back at least as far as the late 19th century – but he’s done a great job of bringing it to the attention of business owners and entrepreneurs along with others including Jay Abraham. I’ve always felt Kennedy was stronger on the initial aspect of attracting new customers while Abraham was better at expanding the backend, that is the ongoing business with the customers. Books by both deserve a place on the bookshelf of a well read business owner. [continue reading…]
The full title of this book by Craig Simpson with Brian Kurtz is
The Advertising Solution: Influence Prospects, Multiply Sales, and Promote Your Brand
In my review of the book posted on Amazon.co.uk, I gave the book a rating of Five Stars. This means it is Excellent and Very Highly Recommended.
Here is my book review.
I wish I hadn’t ignored this excellent book for so long after buying
I’m ashamed to say I bought this book in November 2016 and hadn’t even opened my Kindle copy until January 2019. Why? Well I tend to go on buying binges and there’s the constant risk I start my next buying binge before I’ve worked my way through my last purchases.
The problem was I don’t like the main title – The Advertising Solution – or the subtitle if I’m getting picky because it mentions brands. After I’d bought it, I’d forgotten it was based on the work of six direct response marketing legends. Nor did my unfamiliarity with the main author – Craig Simpson – help me. It became a book to read some time, not next [continue reading…]
There are many ways to differentiate a business. One of the easiest to understand is to find an unoccupied position on the customer value map where there is latent demand from customers.
What Is A Customer Value Map?
It’s a graphical representation of your market with price on one axis and customer value (i.e. what the customer gets for her money) on the other.
Customer value has many different components or attributes but at this stage, assume that value has a strong relationship with price along the lines of the old cliché… you get what you pay for.
This cliche is used to justify spending more on an item because (generally) price is a reliable signal of inherent quality.
An Example of A Customer Value Map
Here’s an example from the car industry which shows the fair value line for different brands. [continue reading…]
I introduced the concept of order winners and order qualifiers in my article on key success factors and now I want to delve into this important topic in more detail.
How Customers Chose To Buy Or At Least Rationalise Their Purchase Decisions – Order Winners, Orders Qualifiers & Customer Value
Customers make their purchasing decision emotionally and logically on a perception of customer value for money.The unconscious mind communicates the decision to the conscious mind at lightning speed and leaves the conscious mind to look for the logical reasons to back up the purchase decision. [continue reading…]
The full title of this book by Michael Masterson and John Forde is
Great Leads: The Six Easiest Ways to Start Any Sales Message
In my review posted on Amazon.co.uk, I gave the book a rating of 5 Stars. This means it is excellent and very highly recommended.
Here is my book review.
Very revealing guide building on Eugene Schwartz ideas
I was a fool. It has taken be more than 5 years to read this excellent copywriting book after buying it.
I’m struggling to justify it to myself. I read widely, not just copywriting or even marketing books but that’s no real excuse. The title perhaps undersells it and, back in July 2013, the book didn’t have all these glowing reviews. I buy a lot of books and kindle books can quickly drop outside of my eyesight unlike a physical book which nags away, demanding to be read. [continue reading…]
In my business coaching, I often talk to my clients about the importance of each of the 5 M’s of Marketing.
This is all about getting your ducks all lined up in a row and it’s very difficult to succeed, even if one of them is out of kilter.
What Are The 5 M’s Of Marketing?
The 5 M’s of Marketing are:
- The Market chosen to target.
- The Marketing Message used to explain the offer
- The Marketing Media used to carry the message to potential customers in the target market.
- The Measurement of marketing activities which allows you to test your ideas and to continually improve what you do.
- Your Marketing Mindset is the way you approach the activities including how consistent you are in what you say and do.
Let’s take a closer look at these Five M’s. [continue reading…]
The full title of this book by Michael Masterson is
The Architecture of Persuasion: How to Write Well-Constructed Sales Letters
In my review posted on Amazon.co.uk, I gave the book Five Stars. This means it is Excellent and Very Highly Recommended.
Here is my review.
Very interesting with an emphasis on the teaser, headline and lead
I read a lot of business books and especially about marketing. I have to admit many of them are quite dry and only appeal to my inner geek who wants more knowledge and understanding.
Thus book is different. [continue reading…]