Posts by Sue

When it Comes to Financial Guidance, Age Matters

It’s funny how great ideas are born. Our team at Sherri May and Company is quite diverse when it comes to age. 95 percent of the time, it’s a real asset. Some of the time, it makes me feel really old.

While working on a project for one of our banking clients awhile back, one of our younger copywriters mentioned she wished her bank had a resource that was specific to her age. A resource that told her things she needed to know about when starting her first real job like how to manage a paycheck and why she should invest in a 401(k).

That sparked an idea that turned into our just released, hot-of-the-press time of life financial education series we’re offering to mid-sized banks. It’s a perfect way for banks to offer tailored information to specific age groups to help them meet their time-of-life-financial needs.

The Financial LifeTimes series offers helpful tips and financial guidance for those in their teens through their 60s. We offer banks the opportunity to customize the booklets with their logo to use as rack brochures, new account kits, as an offer and a sales tool. The program comes complete with a leaders guide to help effectively engage the front line sales team. Click here offers for more information.

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The survey says …

Thanks to all of you who participated in our online survey earlier this year. As you may recall, the question posed was “What is your biggest marketing challenge in 2010?” The results … while definitely pointing to some challenging issues … were not terribly surprising.

Nearly 30% of you responded that achieving higher goals with fewer resources was your biggest challenge this year. We wish we had better news, but indications are you’ll continue to face that challenge into 2011.

One solution to consider is outsourcing. One of our clients chose to leverage her limited FTE by hiring program managers instead of hiring fewer program managers plus production people. That approach severely limits capacity. Our client’s approach gives her the ability to hire all program managers and outsource production. This enables her team to manage more programs than those who split their resources, and get more robust results.

Outsourcing can be very successful, but you need to choose your outsourcing partner carefully. Notice we don’t use the term vendor … for a truly successful match-up, you’ll want a company that thinks of itself as your partner rather than simply another vendor. An outsourcing checklist can help you choose that right partner.

A large percentage of you indicated that defining the right marketing message for customer segments was your biggest challenge. According to Target Marketing magazine, one way to meet this challenge is to take advantage of the fluidness of email marketing.

“The idea of focused messaging isn’t new; we all know that a good message is one that takes into account the customer’s needs and translates those needs into the right offer to the right person at the right time.” Writes Target Marketing. Read more here.

Another way is by implementing voice-of-the-customer relationship marketing to gain results. Read more here.

So, what will 2011 bring? Have your challenges changed in the past 6 months? Take the quick survey again and we’ll compare results.

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Company News: November

Napoleon Dynamite Visits SMCO

There’s something you may not know about Sherri May … first, she’s an actual person, and second, she has a special place in her heart for Napoleon Dynamite. That second tidbit of information was all our staff needed to cook up a special birthday present … a surprise visit by the man himself.

Sherri May and Napolean Dynamite

Chase Our Shadow

SMCO recently participated in the American Marketing Association’s (AMA) shadow day by hosting our “shadow” Chase Alyeshmerni, a student studying at ASU. His excitement and willingness to learn made it a great experience for all involved. Click here to learn more about AMA.

SMCO Debuts Time-of-Life Financial Education Series

SMCO is offering a customizable financial education series that highlights specific actions and goals for people at various life stages. The series is geared toward mid-sized banks and credit unions and can be customized with their company name and logo. The guides come with a leaders guide for managers to fully engage sales staff. For more information about the Financial LifeTimes education series, email Sherri or call 602.547.7020 x101.

Going Green

Stay tuned for more information about how we’re going green in a big way.

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DMA Conference Day 5 – Observing Behaviors

I’ve learned a lot about behavioral attitudes during the DMA conference, and how those attitudes affect people’s actions. For example, we’ve talked about what words to use in copy to capture the reader’s attention or elicit the response you want. And how the fear of missing out on something can be a better motivator. I even learned that if there are three bathroom stalls, which one is most often selected.

Having completed my fifth day of the conference, I’ve done some behavioral observations of my own. Here are just a few of the types of attendees I’ve come across:

The uncommitted. Given a choice, people prefer to sit in chairs at the end of rows, leaving the seats in the middle vacant. Which of course means everyone else is forced to climb over end-of-the-row-sitters to get a seat. My guess is they want to be in a position for a quick getaway if necessary.

The door slammers. Speaking of getaways, those who do leave in the middle of a session or presentation tend to slam the door as they leave, perhaps making a statement of some kind?

The right to stay. Given the choice to stay or go, those having a coughing fit during a presentation tend to stay. Personally I’d prefer they go, even if they do slam the door.

The ink savers. Armed with iPads, smart phones and/or digital cameras, many attendees choose to electronically record the sessions, rather than using paper and pen.

In addition to these enlightening behavioral observations, I also learned interesting tips about testing direct mail programs:
-First, look at what’s been done in the past.
-Identify what you want to accomplish. Be very focused and specific. Your test will sink under the weight of too many objectives.
-Keep the budget in mind when deciding what and how to conduct your test.
-Decide what you want to measure. Will you test front-end response? Or back end-response?
-What will you do with the results of your test?

Testing mandatories:
-Be sure you have enough names to conduct a significant test (10,000 in each segment).
-Identify your control (often this is what has been used in the past).
-Conduct a head to head test. Only change one element at a time.
-Engage the most anal-retentive person you know to track your results.

What to test
There are a multitude of elements to test. Here are just a few of the examples presented at during today’s session:
-Envelope creative
-Package design: Self mailer vs. letter package
-The offer
-Subject lines of an email

Testing was just one segment of the four sessions I attended today. Lots of great information.

And thinking back to behaviors, as I reflect on my own behavior this week, I’m happy to say I have visited five different coffee shops (some of them more than once). And I still have one more day to hit at least one more.

Oh and by the way, the middle stall is the one selected most often. But I’m sure you already knew that.

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DMA Conference Day 4: How to be More Creative

It’s another beautiful day in San Francisco, and my day started early with coffee at The Coffee Bean on Market Street. One of my favorite things to do when visiting cities is to sit at the local coffee shop and watch the passersby.

Then, it was off to the DMA conference for Day 4. I think today was the best day yet. Lots of really good information, and I left with pages and pages of notes. But don’t worry. I won’t spill it all here.

My first session was titled: How to be More Creative in Three Easy Steps. Sounded intriguing. I’m all about being more creative, especially if it’s that easy. Here’s what I learned:

Step 1: Fill in forms.
Okay … wasn’t expecting that. The point is, completing a well-thought out creative brief can help you think a little differently.
Strategy: For example, think about the #1 reason your audience wouldn’t want to do what you’re asking them to do. It could ignite interesting ideas to meet the challenge.
Offer: Make it unique, personal and/or a high perceived value.
Channel: Think about different ways to reach your customer. For example, a bank trying to increase investments in a college fund reached the client on the child’s birthday.

Step 2: Ask questions.
Ask others not on the creative team how they might solve the challenge.

Step 3: Think like a scientist (or psychologist).
-Use “eye magnet” words like easy, quick, improved, now, soon, free.
-Use the principle of scarcity: limited time, urgent, exclusive, limit 2.
-Personalize. Our own names are eye magnets. But personalization means more than names. Include information like past purchases, previous behaviors
-Use icons to communicate messages instead of words.
-Add a dash of color. Our presenter spoke about color being added to important areas of statements that resulted in customers paying 14 days earlier.
-Provide a reason customers should take the action you want them to take.
-Consider using fear. Avoidance of missing out can be more of a motivator.
-Use the principle of reciprocity. This principle is used by nonprofits when they include the return labels, note cards, or other items to encourage you to “give back.”

I’m not sure my translation of the three steps did it justice, but hopefully it sparked new ideas for you. My second session today was Creative Slamdown. But you’re in luck. I’m not going to try to translate that one … although it was quite entertaining.

Until tomorrow …

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DMA Conference Day 3: Social Media Pros & Cons

Even though I attended two days of pre-conference events, day three of the Direct Marketing Association Conference is actually the first day for the majority of attendees. This being the “official” start of the conference, the DMA put on an impressive opening event with a media show, entertaining keynote speaker and celebrities.

Social media is a hot topic at the conference. There are definitely different points of view on the subject, and lots of uncertainty surrounding its place in everyone’s marketing mix. Today’s opening speakers suggested social media is not for every business. Others believe every business needs to be part of the conversation.

My morning workshop leader shared pros and cons of social media marketing:

Pros:
-Social media is a one-to-one marketing solution
-Customers can become direct sales people (if we’re lucky)

Cons:
-The marketer loses control
-Phony pitches become obvious
-Today’s hero can quickly become tomorrow’s bum

The afternoon’s Thought Leadership Series presenter gave a recent example that offered insight into how social media can help and hurt businesses. Here’s his story:

He was looking to purchase a new camera. So, being a social media junkie he tweeted it. Those in the know suggested – via Twitter — a certain camera to purchase. His next step was to find the cost, so he Googled the camera. He went to purchase it at Best Buy and found it to be hundreds of dollars more than at most places … so he tweeted that as well. Not good for Best Buy.

He received a tweet in return suggesting another place to purchase the camera … good for that retailer. Within minutes, the retailer tweeted they had the camera in stock and would be happy to assist him.

Now that’s good.

And so goes the discussion about social media as a marketing tool. I suspect it will continue long after the conference.

While we marketers contemplate the impact of social media, the folks here in San Francisco are celebrating their baseball team becoming division champs. Exciting times ahead.

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DMA Conference Day 2: Copywriting Tips

Today started with a quick stop at Starbucks … no surprise to those who know me. Then on to the Moscone Center for the second day of the Direct Marketing Association conference.

The morning session was packed with great information and tips on copywriting for a variety of direct marketing channels including email marketing, websites, letters and envelopes.

Our speaker continued to emphasize that our jobs were not to win awards, but to increase respondence. So, to that end, here are quick copywriting hints from our speaker:

Lessons learned:
-Emotion will out pull intellectual appeal
-Asking customers to respond by mail can damage response
-Statistics are cold blooded, examples are warm blooded
-Exclusivity is important … phrases like “only you” are better than “you are among …”

Words to avoid:
-Administration
-Approximately
-Define
-Earn
-Facilitate
-Feature
-Formulate
-Needs (as a noun)
-Product

Effective words/phrases:
-Free
-Free gift
-Limited time
-Right now
-First time offer
-Not sold in stores
-Good only until (date)
-I’ll look for your order

Whew, attending these all day sessions is much like being back in school. It’s exhausting. At the end of the day, I mustered up enough energy to browse the exhibitors and then headed back to the hotel. A run, some shopping, a quick bite to eat and then, I crashed.

Tomorrow is yet another day at DMA.

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DMA Conference Day 1: Social Media Strategy

Following an uneventful flight from Phoenix, I arrived in San Francisco to beautifully refreshing weather. Too early to check into my hotel, I parked my luggage with the concierge and headed over to Moscone Center, home of the Direct Marketing Association 2010 Conference.

An impressive venue for the conference, I found my first session, Can Social Media Help Rebuild Trust? The workshop leader spoke about a painful experience in Social Media he encountered while working for Citibank and the lessons he learned as a result.

Through a series of events that would take too much time to explain here, he spoke about how a negative situation erupted on Twitter, and how the large corporation was completely unprepared to handle the situation.

“We had no way to deal with an immediate social media crisis,” he said. “Our solution was to write a press release. We learned quickly that no one on Twitter reads press releases. The negative discussion went on for days while we had 60 people trying to write a one paragraph response.”

Lessons learned:

1. If you’re going to participate in social media, you need to be authentic. If you try to write PR fluff, your audience will have you for dinner.

2. Be honest about who you are. You don’t want to deviate from your brand because of the medium.

3. Experiment, learn, adapt. You’re going to make mistakes. Learn from them. The speaker credited Walmart for sticking with Twitter after several missteps before finally getting it right.

4. Don’t let legal and compliance define the voice. He named a prominent bank and leading investment company that “clearly let the legal department control social media.”

5. Do not outsource social media. He warned against giving the power of social media to someone outside the organization. He made the point that he was a senior-level executive at Citi and was the only person allowed on Twitter.

Following my sessions at the Moscone Center, I checked in the hotel, quickly changed into running clothes and headed out for a jog. It was a busy Saturday evening on Embarcadero St. I passed couples, families, friends, as well as a crew of sailors and naval officers in their amazing shiny black shoes venturing out for a big night in the City.

Can’t wait to see what tomorrow will bring.

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Company News: December 2009

smco-christmas-tree-smHoliday Spirit
As Sherri May & Co. gears up for the holiday season, the team came together to fill the office with holiday cheer. A decorated tree adorned with festive ornaments is our latest addition.

Copywriter named Head Varsity Coach
Caitlin Bebout, SMCO Copywriter, recently became the Head Varsity lacrosse coach at local prep school, Xavier. She is looking forward to a great 09-10 season which kicks off this coming January. Go Gators!

Giving Back
In addition to taking part in a holiday gift exchange this year, SMCO has decided to help families in need when they need it the most by donating St. Mary’s Alliance Food Bank. To find out more about this organization and to find out how you or your business can help families in need, go to firstfoodbank.org.

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