Horizons - Mezzanine Consulting

Laughter is the Best Medicine - and Marketing

Friday, December 19th, 2008

Lots of companies are asking us what they should do about marketing themselves effectively in these tough times. I heard a fantastic no-cost example of great marketing yesterday. John Ulcar of Crosslink Technology (www.crosslinktech.com) was telling me about a product his company makes for utilities and telephone companies that helps them deal with holes created by woodpeckers in utility poles. It’s a problem that costs utilities millions in pole replacement costs annually.

And Crosslink has the solution – it’s a compound that, when cured, mimics the flexibility and hardness of wood, so it can be poured into the holes and repair the poles at a much lower cost than replacing them.

And how did Crosslink market this product? Very simply, and very humorously. Rather than giving the product a boring name like wc-6361, they came up with something funny and provocative. Pecker Patch™. That gets a laugh, and the attention, of customers. Add to that the obvious cost-saving and quality benefits of the product, and you have great, cost-effective marketing.

You can read about Pecker Patch™ at http://www.crosslinktech.com/Pecker%20Patch/Pole%20Repair%20Brochure%20EnglishRev4.pdf

The lesson: have some fun with your marketing. In times like these, we could all use a laugh.

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Frugal Marketing

Monday, December 1st, 2008

As times get harder and the economy slows, marketing remains necessary to bring in revenues. Many businesses tend to forget that the downturn of the economy impacts consumers as much (if not more) than businesses. During these times, consumer needs change. It is important to try and understand how they’ve changed so that your product or service offerings can be customized to make them feel continue to feel at ease with their purchases. It isn’t about bombarding them with sales calls, catalogues or e-mails; it’s about changing and strengthening the dynamic of your relationships with customers.

The good news is that strengthening your relationship with customers doesn’t have to cost a fortune. There are many cost efficient ways to approach marketing when times are tough and budgets are shrinking. Here are just a few questions to get the frugal marketing juices going: When was the last time you engaged your customer community to find out what they really want in these changing times? Are there people in your network who might be able to piggyback services with you?

Remember, it isn’t always about the amount of money that you spend, it’s about knowing who you want to talk with and then, being creative with your marketing techniques. For some other frugal marketing tips check out:

5 Free marketing ideas

3 Ways to drive a stronger bond with customers

5 tips for marketing in a recession

Marketing in a Recession

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Tags: marketing on a budget, recession marketing, shoestring marketing, SMB marketing
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E-waste. What a Pain in the Asset!

Friday, November 28th, 2008

As society increasingly views environmental sustainability as a mainstream concern, going green is no longer just a trend but a core business issue for many companies. A firm’s sustainability performance is beginning to dictate its business development with ninety two percent of Canadians believing that the more socially responsible a company is, the more likely consumers are to purchase their products or services. Beyond that, with the looming war for talent, corporate social responsibility (CSR) becomes an even more prominent issue as workers look for companies whose values are similar to their own.

From a marketing viewpoint, the adage that ‘sustainability sells’ holds more truth now than ever before. However, this adage also means that ‘greenwashing’ - deceiving consumers with false or misleading claims of environmental responsibility - is becoming more rampant in today’s marketplace. In fact, TerraChoice, an environmental marketing company, recently conducted a study which revealed that out of 1,018 “green” consumer products from big-box stores in the United States, all but one were marketed with false or misleading environmental claims. The goods news however, is that with ever increasing access to information and collaborative solutions such as the Greenwashing index, consumers are much more likely to spot ‘greenwashing’ when they see it, especially as the consequences of these actions become more severe.

To truly be a ‘green’ corporation, companies need to internalize the sustainability ethic into every aspect of their corporate culture. One often overlooked area for many organizations is the disposal of end of life electronics also known as “e-waste”. Recently, there have been a number of cases where branded end of life electronics have been shipped to developing countries to be dismantled under unsafe conditions. These cases have taken the issue of e-waste out of the trash yard and into the governance spotlight.

Most organizations do not have a formal plan to deal with this important element of environmental sustainability and may well be wasting money as well as potentially putting the company at risk. Improperly sanitized hard drives full of company data can easily be recovered to expose confidential information. Even worse, some companies dispose of their old computers with employee and customer data still intact. Such violation of privacy laws and regulations can involve hefty fines of up to $250,000.

In order to authenticate ‘green’ claims, companies must look internally to ensure that corporate practices are in line with environmental initiatives. A recent study conducted by Mezzanine identified the top 5 ways companies (big and small alike) can begin ensuring their e-waste disposal process minimizes security and environmental risks while allowing the company to maintain a green image. They include:

Vendor Take Back Program – Choose vendors with a take back provision that offers trade in value. Take back programs create an incentive to design for recycling and increase the use of recycled content.
3^rd Party Recycling Vendors – Choose recyclers that meet Department of Defence standards with their data degaussing, disk wiping and destruction procedures and should be able to remarket refurbished products to capture the highest resale value (if possible). Recyclers used should be audited to ensure they are not exporting e-waste to developing countries to be dismantled under dangerous working conditions. Visit the resources listed below to find a responsible recycling vendor.
Extending the Life of Older Equipment - Analyze the trade-off between purchasing newer more energy efficient products or extending the life of older assets.
Design for Environment - Has a ‘Life Cycle Approach’ been applied in the design of the product being purchased? Can the item be easily upgradeable in the future? Purchase products that are expandable, upgradeable and recyclable.
Eco-Labels - Look for Eco-labels that incorporate multiple environmental considerations and are certified by a qualified and independent third party such as EcoLogo, EnergyStar and GreenSeal.

In today’s environment of heightened ecological consciousness, maintaining a ‘green’ image plays a crucial role in a company’s long term competitive strategy. Electronic waste disposal has become an increasingly notorious issue and its importance in the realm of social responsibility should not be hastily overlooked. SMBs should ensure that an electronic disposal strategy is in place in order to identify potential revenue streams as well reduce the company’s exposure to risk.

Eco friendly purchasing resources:

Electronic Product Environment Assessment Tool

Purchasing Guidelines for Environmentally Preferable Computers

Finding the right recycling vendor:

E-waste: A recycling Resource

Basel Action Network (BAN)

Meeting IT Life-Cycle Challenges to Maximize Value and Minimize Risk

Ways to spot ‘greenwashing’:

The Six Sins of Greenwashing, Terra Choice

Shades of Greenwashing, Toronto Star

More information on e-waste:

Electronic Take Back Coalition