by Chuck McKay | Jan 1, 2009 | Budgeting, Pricing, and Return on Advertising Investment (ROAI)
How in the world can they afford to keep advertising like they do? You’ve seen ’em. Those companies who offer to do battle with the IRS if you owe large income tax debt. The credit counseling companies. The medical discount programs. Those who will...
by Chuck McKay | Nov 28, 2008 | Media, Social Media, and Word-of-Mouth (WOM)
Word-of-mouth occurs when, through surprise, your customer has become emotional about you. It can happen when astonishment leaves her delighted. Alternately, it can happen when disillusion causes dismay. The first produces positive word-of-mouth. The second, negative....
by Chuck McKay | Nov 6, 2008 | Customer Education, Expectations, and Motivation, Customer Focus, Retention, and Evangelism
The Dallas Cowboys haven’t had that bad of a season. Five wins, four losses. Slightly better than average. Unfortunately, the die hard fans are devastated. Care to speculate why? Probably because their expectations for the 2008 season included the Super Bowl....
by Chuck McKay | Oct 25, 2008 | Advertising 101, Customer Focus, Retention, and Evangelism
The boss has a unique responsibility. And it’s not the one most people think of when they describe the duties at the top. Robert Kiosaki, in his best selling business book Rich Dad, Poor Dad, explained that as an employee, you have a job. As a self-employed...
by Chuck McKay | Oct 19, 2008 | Customer Education, Expectations, and Motivation, Psychology and Consumer Behavior
A couple of decades ago I sat on the invisible side of a two-way mirror and studied the members of a focus group as they watched some television ads my company was testing. One of my company’s most vocal supporters watched an ad that positioned our product as...
by Chuck McKay | Aug 25, 2008 | Customer Focus, Retention, and Evangelism
For the last week, as we’ve discussed steps to cope with the Recession of 2008, we’ve assumed that the recession actually exists. But, what if you agree with Federal Reserve Chairman Ben Bernanke? The Chairman tells us that a recession, by definition, is...
by Chuck McKay | Aug 24, 2008 | Advertising / Marketing Strategy, Advertising 101
Cash flow is tied to profit and loss, but makes allowances for lags which happen between the sale, and payment clearing your checking account. The problem of a slow economy can work to your advantage if your suppliers grant you credit. It can be fatal if you offer...
by Chuck McKay | Aug 23, 2008 | Budgeting, Pricing, and Return on Advertising Investment (ROAI)
Supply and demand tend to be somewhat elastic. Changing one causes a reciprocal effect on the other. When demand drops, supply increases, and all too often consumption decreases, too. In our terms, that means gross sales will head south as people determine they...
by Chuck McKay | Aug 22, 2008 | Advertising / Marketing Strategy
As much as we dread any economic recession, there are economists who insist tough times force us to become more efficient, and that’s a good thing. Perhaps this is most obvious when it comes to staffing. In many retail businesses, and nearly all service...
by Chuck McKay | Aug 21, 2008 | Advertising 101, Budgeting, Pricing, and Return on Advertising Investment (ROAI), Customer Focus, Retention, and Evangelism, Publicity and Public Relations (PR)
This is a photo of a Boeing 747-200. This aircraft requires 219,000 foot pounds of thrust to get airborne, but only 100,000 foot pounds to cruise at altitude. Think of your ads as the jet engines which power your company. As soon as you remove the thrust, you’ve...
