Turning Challenging Times_Around

Turning Challenging Times Around presented by Charlene Andersen MicroCredit-NH 2010 Entrepreneurial Exchange -North Conference August 16, 2010 C.Andersen

I help:
business owners who are frustrated with their business growth or profitability.
organizations who need a champion to lead a project from concept to completion.
“ I bring knowledge, ease and understanding to the table.”

Economist Say New England…
Employment started to grow in Q2 @ 1% annualized
Unemployment @ pre-recession peak by Q3 2013
Growth will come from:
High technology (9.2%)
Information services (7.4%)
Construction (7.9%)
Professional & Business Services (10.7%)
Leisure & Hospitality (8.4%)
Employment growth will come from small biz (<50 employees)
Source: NEEP New England Spring 2010: New England Outlook Executive Summary - Ross Gittell & James R Carter, University of New Hampshire

Open Doors to New Trends and Ideas
Generate Enthusiasm with Simple Metrics
Increase Customer Loyalty
Rethink Opportunities
Turning Challenging Times Around

SHARING

COMMUNICATION Turning Challenging Times Around

RELATIONSHIPS Turning Challenging Times Around

Turning Challenging Times Around Open Doors to New Trends and Ideas

First:
Remain True
Have a Plan
Segmentation
Creates customization
Builds trust & respect
Emerging customer segments
Turning Challenging Times Around C.A. Smith

Ways to Segment leading to Opening Doors to New Trends and Ideas

Turning Challenging Times Around Ethnographics (view in natural settings) Sociographics (individuals) Psychographics (values, attitudes, lifestyle) Purchasing Behavior (frequency, $, type) Firmographics (firm size, location, $…) Demographics (geographic, $, age…) Service Product

Segmentation Case Studies

Product Segment
Who: Natural Body Care
What: Defined high value products
Open Door: Insight into purchases
Which had probability of incremental revenues
Idea: Created promotional plan of products to be purchased next
Turning Challenging Times Around Image by sunshinecity via Flickr

Customer Segment
Who: Organic Food
What: Identified similarities & differences
Created defined groups
Open Door:
Understanding of how & when purchases were made
Ideas: Defined & projected initiatives & resources
Turning Challenging Times Around C.Andersen

Geographic Segment
Who: Environmental Assessment firm
What: Divided by country
Open Door:
Logical determination of business growth
Ideas:
Focused marketing efforts and resources
Targeted approach and message

Ethnographic Segment Research
Who: Start-up Café Business
What: Evaluate customer interaction of similar cafés
Open Door:
Customer flow for friendly atmosphere of service
Evaluation of furniture needs (tables, chairs, couches) for customer interaction
Ideas:
-Layout designed for interaction
-Hosted customer meet-up nights
Turning Challenging Times Around Jason & Alyssa DeRusha

Turning Challenging Times Around Generate Enthusiasm with Simple Metrics

Create a Dashboard
Clear Purpose
Measure efforts
Create metrics
Turning Challenging Times Around Image by C.Andersen

Increase Customer Loyalty

Considerations
Stay customer-focused (not obsessed)
Understand your profitable loyalties
Not
Pricing/discount/exchanges
Service demanders
Understand your WOM referrals
Measure

Reward Loyalty
Create specials/events/upgrades
Rewards for referrals, $$, purchases
Increase - quantity or quality
Turning Challenging Times Around Image by C.A. Smith

Nesting Trends
Become part of the home
Make shopping experience positive
Rachael Ray

Leverage partnerships with complementary goods/services for discounts
Bridges Makes the Trip Easier
Image by C.Andersen

Reward Loyalty
Know, listen, learn
and thank

Two Other Ideas

Direct Mail Letter
Qualified
Network
Call to Action
Follow up
Review all Copy
Is this about me?
Does it address needs?
How does it help?

Rethink Opportunities
Turning Challenging Times Around Image property of C.Andersen

Your Action
1 strategy -30 days -
create impact
1 thing each day -
maintain optimism
Time weekly -focused -
implement strategy
Image property of C.Andersen “Bringing knowledge, ease and understanding to your table.”

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“Bringing knowledge, ease and understanding to your table.”

“ I believe during our lifetime our actions are crucial to the health and sustainability of the planet and our society.” -C. Andersen Image by C.Andersen “Bringing knowledge, ease and understanding to your table.”

Turning Challenging Times_Around

by Charlene Andersen on Sep 01, 2010

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Turning Challenging Times_Around — Presentation Transcript