BLUE CHIP TIPS Issue 3
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Blue Chip Tips: Blue Chip Marketing Secrets...Revealed!
Caroline Melberg
caroline@melberg.com
www.melberg.com
Published every-other Wednesday.
To manage your subscription, see the end of this message.
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THIS ISSUE:
1. Blue Chip Tip: Beer, Pop-Tarts and Hurricanes!
2. Blue Chip Quip
3. Fun Survey: What's YOUR Favorite Brand Icon and Slogan?
3. Questions and Feedback
1. BEER, POP-TARTS and HURRICANES!
Given the beautiful summer weather we're having in Minnesota
right now, you might think I'd be talking about beer and
picnic food...but Pop-Tarts? Hurricanes? What does all this
have to do with your business?Everything! Let me explain.
Wouldn't it be great if you could know NOW with almost
complete certainty the events that were going to happen
next week or next month or next year that would impact your
customers or your business?
If you did, you could take action to benefit from the opportunity,
or prevent the potential loss of a customer, for instance.
Well that's exactly what companies are now doing using
a tool called Predictive Analytics. They analyze data about
their business, combined with information about their customers
and prospects in a way that allows them to predict what
is going to happen, and take advantage of a competitive
edge other companies don't have.
This is where Beer and Pop-Tarts come in. Wal-Mart put
Predictive Analytics on the map in 2004 when dealt the double-whammy
in Florida of Hurricanes Charlie and Frances.
When the hurricane warnings for Charlie were issued, Wal-Mart
tracked everything - the weather service hurricane data,
customer information and spending patterns. Three weeks
later when the warnings for Frances were issued, Wal-Mart
used the information it had gathered when Charlie hit to
predict the likely sales of ALL of their items. (It turns
out, Floridians really go for beer and Pop-Tarts when a
hurricane is coming - go figure!)
Wal-Mart used the information they gathered to ensure that
their Florida stores were adequately stocked with the merchandise
their customers would want, turning a potential business
disruption into an opportunity.
And it's not only Wal-Mart. Wireless phone companies know
that if a customer calls their Customer Care Department
with the same complaint 3 times within a short period of
time, that customer is likely to switch to another carrier
(or "churn" to use wireless jargon). There is
a predictable correlation between the event and it's outcome
that allows a company using Predictive Analytics to turn
a potential negative into a positive.
Another way companies are using Predictive Analytics is
in deciding where to expand retail operations and locate
new stores. When presented with multiple choices of available
lease space, how to choose the best option is often a challenge.
Using Predictive Analytics, companies evaluate their existing
customer base and store data, then combine that with information
about household income, age and other lifestyle and demographic
data to select the right location for their business.
As you can see, Predictive Analytics can help ANY type
of company or organization gain a strong competitive advantage.
And while it sounds like it takes an immense IT department
and a big budget to utilize this technology, that's not
the case.
The best way to launch a Predictive Solution is to partner
with a company that can help you get your feet wet, by doing
a test with one area of your business. A successful Predictive
Analytical Solution starts with a customer focus, so keeping
that in mind - work with your partner company to find ways
that you can keep existing customers, attract new members
or customers to your business or capitalize on a business
opportunity your competitors aren't aware of.
Once you experience success in one area of your business
with Predictive Analytics, you'll be amazed at how quickly
you start to see other uses for this valuable tool throughout
other areas of your organization.
If you'd like to know how Predictive Analytics could help
you take advantage of unforeseen opportunities, gain new
customers and get a competitive edge, give me a call!
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Melberg Marketing specializes in powerful copywriting, compelling
graphic design and professional marketing consulting that
gets you noticed. If you'd like to start marketing DIFFERENTLY,
give us a call!
Ask us about our new 360s Business Intelligence Predictive
Analytics System and Surround Your Business With a Definite
Competitive Advantage!
Caroline Melberg ? Melberg Marketing ? 952-473-1007 ? www.melberg.com
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2. BLUE CHIP QUIP:
"If things seem under control, you're just not going
fast enough!"
-- Mario Andretti,
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3. WHAT'S YOUR FAVORITE BRAND ICON AND SLOGAN?
If you're like me, you love the commercials during the
Super Bowl as much as the game itself. Well, this contest
is a lot like voting for your favorite Super Bowl commercial
(without the munchies or the party unfortunately).
Advertising Week 2006 is Sept. 25-29 in New York City,
but you don't have to wait for the fun.
Go to: (http://advertising.yahoo.com/advertisingweek_06/)
to learn more about Advertising Week 2006 and cast your
vote for America¹s Favorite Advertising Icon and Slogan.
There are 26 nominees for each, and 2 winners will be chosen
from each category.
The Energizer Bunny, Morris the Cat, the Budweiser Clydesdales,
Toucan Sam (ok, can you tell I like animal icons?) - they
are all there to choose from - check it out and cast your
vote today!
And - look for the new MELBERG MARKETING icon - coming
soon. We are nearing completion on our mascot design, so
we'll be sure to share him with you as soon as he's ready
for his debut (he's not quite famous enough to be included
in the Advertising Week contest - maybe next year :-).
I'll be featuring "Brand Building" in an upcoming
edition of Blue Chip Tips. I'll talk about the process of
choosing your brand, and how lessons from Blue Chip Marketers
can help all of us create and build strong marketing identities...so
if you were thinking of getting off this list...don't do
it yet! There's more good tips coming, stay tuned!
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4. QUESTIONS AND FEEDBACK
Have a Blue Chip Marketing question, problem or idea to
share? Send it to us at: bluechiptips@melberg.com.
We'd LOVE to hear from you!
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That's it for this edition of Blue Chip Tips. Look for
your next issue on July 26th.
Until then, Happy Marketing!
Caroline Melberg
Blue Chip Tips
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© 2006 Caroline Melberg
Melberg Marketing, Inc.
1290 Lyman Avenue
Wayzata, MN 55391
952-473-1007
caroline@melberg.com
www.melberg.com
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