Archive for July, 2007

Major Private Sector Employers of the Greater Southlake Market

Saturday, July 28th, 2007

                                                                                                          Site

Employer                                                                                  Employees

Sabre Holdings                                                                                 3,000

Fidelity Investments                                                                         2,800

First American Real Estate Information Services              est. up to 2,300

Gaylord Texan Resort & Convention Center                                     1,500

Daimler Chrysler                                                                               1,000

Verizon Internet Solutions                                                                  900

Verizon Information Services                                                              888

Baylor Medical Center                                                                         880

GameStop.com                                                                                    868

Federal Express Corp.                                                                         500

AMR Eagle Holding Corp.                                                                     500

Source: NCTCOG zip-code based major employment data and various entities.

This brief summary appeared in the July 2007 newsletter published by KGB Strategic Marketing Solutions.  If you would like to be added to our distribution list, please email Kate at kgbmarketing@hotmail.com.  We will be more than happy to add you to our list!

Spotlight on Local Banking Industry

Saturday, July 28th, 2007

Over sixty banks operate in the six community market of Southlake, Colleyville, Grapevine, Keller, Trophy Club and Westlake.

Here are the number of banks in descending order by community and a residents per bank ratio by community.  This data does not include stand-alone ATMs, credit unions nor banks under construction.

Community    No. of Banks    Rsdnts./Bank

Southlake                19                     1353

Keller                       15                     2513

Grapevine                13                     3504

Colleyville                 12                    1846

Trophy Club               3                     2483

Westlake                   0                       na 

Ten banks operate in this market with three or more locations.

  • Four banks operate with two locations
  • Nine banks have one location.    

Currently, Bank of America is the leader with nine locations. 

  • Chase Bank and Compass Bank have six each. 
  • Wells Fargo has five locations and Capital One has four. 
  • Five banks operate with three locations: Bank of Texas, First Financial Bank, Frost Bank, Wachovia Bank and Washington Mutual. 
  • Less than six locations are not stand-alone facilities.     

 This brief summary of the greater Southlake banking industry appeared in the June 2007 newsletter published by KGB Strategic Marketing Solutions.  If you would like to be added to our distribution list, please email Kate at kgbmarketing@hotmail.com. We will be more than happy to add you to our list!

   

Practical Business Card Hints

Saturday, July 28th, 2007

  A professional’s business card is one of the first impressions given of both yourself and your business.  Here are design related factors to consider.

  1. The quality of the paper (how thick, heavy or sturdy) tends to indicate the seriousness of your company.
  2. Glossy cards can be very hard to write on; thus the recipient may not be able to jot down important notes from your conversation. 
  3. Primary contact information is essential.  Phone numbers should have a consistent format and include the area code and an extension, if applicable. A physical address may not be needed if you do business exclusively online or by mail.  Website addresses can be listed with or without the http:// preceding the URL.
  4. One expert notes the use of too many colors may give the look of indecisiveness.  At times, elaborate print can be hard to read.
  5. Taglines are useful if the business name is somewhat ambiguous or doesn’t clearly convey the purpose of the business.
  6. A logo or picture can play a major role in creating a professional’s or company’s identity.

   This brief article appeared in the July 2007 newsletter published by KGB Strategic Marketing Solutions.  If you would like to be added to the distribution list, please email Kate at kgbmarketing@hotmail.com.  We will be more than happy to add you to our list!

Personalizing your marketing efforts - Part III

Tuesday, July 17th, 2007

The following is the final section of a three-part article focusing on ways a small business can personalize their marketing efforts.  As previously mentioned, I’m not referring to personalizing mass produced printed materials, but am focusing on those little “human” touches that mean a lot to your best customers, prospects, industry allies and employees.  I refer to this group as your “focused contacts”.   The first part, posted on June 25, focused on handwritten notes, and the second part, posted on June 30, focused on customer appreciation. 

The third way to personalize your marketing efforts is to ensure your company is known for customer service.  I’ve segmented this approach into four categories.

  • Customer expectations
  • Employees
  • Response time
  • Value-added ideas.

In order to exceed customer expectations (and yes I know this term is over-used), think about your recent transactions at other establishments, whether positive or negative. 

When visiting a store, we appreciate the efforts made when employees walk you to the location of a product, answer your questions about product options, and then ask if you need additional assistance with another item.·         It’s hard to feel highly valued when you’re just told the aisle location and you’re unfamiliar with the store layout or are in a hurry.  And then again, do you get frustrated when checking out and am asked “did you find everything?” and when you tell them no, they show no concern for your input? It’s important to identify your customers’ priorities if you want them to be life-long customers.

  • When I worked at American Airlines in the eighties, we studied how other businesses within the travel industry were responding to the influx of women business travelers and learned safety was the top concern.  As an example, women didn’t want their room number stated out loud at check-in.
  • It’s a great feeling when a restaurant remembers your preferred seat or a hotel remembers your non-smoking room preference.

Furthermore, it is beneficial to ask your focused customers or allies how your product or service is performing.  Then, implement changes and advise them of these changes.

  • You may find that people are willing to pay more if you spend more time listening to them (a selfish, but important factor).
  • My July 2006 newsletter identified numerous ways of gathering information and listening to your customers.
  • Remember to obtain information about different “time points”: purchase, delivery, service calls and after the customer actually uses your product for a period of time.
  • Hiring a mystery shopper can provide first-hand qualitative input on how your customers are treated.

A second way to focus on customer service is to think about your employees.  If you respect, value and train your employees and recognize them as an important asset, these employees are more likely to pass along the same treatment to your customers.  Plus, you may have lower employee turnover. 

  • Ask your employees for suggestions on ways they can offer outstanding customer service, such as learning more about products or your competitors.
  • Modify or eliminate rules preventing employees from providing great service. 
  • As your company provides training, offer employees opportunities to practice the new skills prior to interacting with customers and prospects.  New skills need time to become habits.

The third area is response time.  If you have a website, what is your response time to answer questions or comments? 

  • What are your response rates when it comes to returning phone calls, shipping products, scheduling and completing service calls, or providing replacement parts?
  • With so many people short on time, have a procedure for notifying your inability to keep an appointment.

The final area of customer service that can be personalized is value-added services.  What procedure do you have in place when an item is out of stock? 

  • I was quite surprised when a high-end local grocer had no record of my request for a special product I was seeking.  At the time I left my contact information, I mentioned the two special trips made to their store for this item.  Since that experience, I’ve reduced the number of visits to that establishment. 

Do you mail out postcards or make a phone call when the product is re-stocked?  How do you keep customers informed of special purchases?

  • Just they other day I received a call from the service department of my car dealership reminding me that I haven’t been in for service in some time.  Personally, I value that reminder since our lives get busy and it’s not convenient or fun when the car needs servicing!

Do your technicians solve an immediate problem that’s likely to repeat itself OR do they find a long term solution so it doesn’t repeat itself?  This easily applies to appliance, computer and cable service repairs.

  • Perhaps you’ve come across a problem with a piece of equipment and you make the effort to contact customers who purchased that item.

Do you notify focused contacts of your busiest time of the day or week so they can avoid long lines and delays?

  • Wouldn’t it be great if the local post office could tell you when they have the most agents working?

Please don’t hesitate to share your comments and thoughts about these three methods for personalizing your marketing efforts.  It’s a topic that never loses relevancy. 

Personalizing Small Businesss Marketing Efforts - Part II

Wednesday, July 4th, 2007

The following is the second section of a three-part article focusing on ways a small business can personalize their marketing efforts.  As mentioned in the first post, I’m not referring to personalizing mass produced printed materials. 

Instead, I’m focusing on those little “human” touches that mean a lot to your best customers, prospects, industry allies and employees.  I refer to this group as your “focused contacts.”  The first part, posted on June 25, addressed handwritten messages.

The second way to personalize your marketing efforts is to demonstrate how much you appreciate your customers. 

First are on-going methods such as

  1. acknowledging customers by name
  2. offering a place for customers to display a stack of their business cards so others may take one
  3. touching base with a prospect about some other need they mentioned during your presentation or discussion 
  4. providing a simple way for contacts to opt out of receiving your company’s routinely distributed promotional materials
  5. organizing free workshops in which you partner with related professionals to offer meaningful information   
  6. sending a testimonial from an existing customer to a prospect
  7. writing thank you notes and placing phone calls as previously discussed
  8. establishing a client or customer board of the month featured at your office, retail store, newsletter or website.

Financially, you may

  1. offer discounts if they bring in a postcard or mention your notice about customer appreciation day or week
  2. hold a monthly drawing for FREE use of a chauffeur, prepared meals, financial check-up, golf packages, etc.   
  3. donate to your focused contact’s favorite charity in his or her name
  4. invite focused contacts to try a new product or service at no charge or at minimal cost, dependent upon the product or regulations  
  5. establish a frequent purchase program (yes, this does require you to keep track of all customer purchases) to provide rewards.  Use this opportunity to have some fun and select meaningful items or services.
  6. inform customers of special sales involving their frequently purchased items (here again, don’t forget the usefulness of a customer database), or if you have a top-selling item that your best customers frequently purchase
  7. publish a picture in the local paper, perhaps quarterly, of an important customer, employee or ally
  8. host an event where you don’t talk business such as a picnic, BBQ or softball tournament.

  The final part of this series will focus on personalizing customer service.

Great Customer Service Should be a Part of your Product

Sunday, July 1st, 2007

What are three great reasons to provide outstanding customer service?

  1. Repeat customers spend more than new customers.
  2. Referrals from repeat customers are greater than new customers.
  3. It costs less to sell an item to an existing customer than a prospect.

So how do we make great customer service a daily occurrence?  Focus on the various interactions you have with your customers before, during and after their purchase.

  1. How easy is it to find your location, phone number or website?  Include this information on as many of your company materials as possible.
  2. During the sale, do you offer helpful assistance, practical packaging, and payment options?  Make sure your staff has the training and knowledge they need.
  3. After the sale, are delivery and installation convenient?   Will your product be more useful with training?  Is your automated phone system customer-friendly?  Are your return and warrant policies reasonable?  A positive experience at this phase can significantly impact the number of customer referrals!