The 'Age of Asia': Part 2 - Doing Business

Sponsor of this post

Part 2 (Part 1 of this post was made on 10/23/19 please read that post first).

Asia is relevant for all U.S. businesses, large and small. The question is: how to take advantage of this expanding and exciting market.

Businesses need to reassess their Asian operating/marketing model - and it is not all about China. Companies need to understand the differences within the entire Asian geographic area and each of the four regions, as discussed in Part 1, need to be treated differently.

Obviously, Asia is fraught with political risks and territorial conflicts and each country has differing business rules and laws that must be dealt with. But, despite short-term issues regarding trade tensions and China's decelerating growth, the Asian business prospects are very extremely favorable.

Environmental issues remain a problem which need addressing but all other determinants, such as, trade flows, capital, people, transport, and infrastructure are favorable in all 'four Asias'. Asia is not only growing in scale but is also integrating at a very rapid rate - U.S. companies must take advantage of this integration or be left on the sidelines.

There is no single Asia. The countries are highly diverse and each deserves special treatment. The four distinct economic regions differ in terms of scope and economic development thus requiring different market strategies. Any firm contemplating business in Asia needs to unlock the opportunities arising from the 'four Asias' but must take into consideration the nuances of each - doing so, will provide for long-term sales and profits.


Jim Lavorato, Founder/CEO
Fund-House Ventures & 4M Performance
James@4MPerformance.com

The 'Age of Asia' : Part 1 - What You Need To Know

The Asian century has begun. Collectively, the economies of Asia currently account for more than 50% of global GDP and 40% of worldwide consumption. Asia will shape the way globalization emerges over the next decades and have profound impact on the rest of the world. This is Part 1 of a two part series on the 'Age of Asia'.

Jakarta, Indonesia

This is Part 1 of a 2 Part post. McKinsey & Co. is the source for the basis of these posts. 

Asia can be segmented into four distinct business regions:

1. Advanced Asia : Australia, Japan, New Zealand, Singapore, S. Korea
2. China
3. Emerging Asia : Bhutan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Mongolia, Myanmar, Nepal, Philippines, Thailand, and Vietnam
4. Frontier Asia and India : the 'seven stans' (Afghani, Kazakh, Kyrgyz, Paki, Tajiki, Turkmini, and Uzbeki) Bangladesh, Fiji, Maldives, Sri Lanka, and India

The regions are very diverse. For example, Advanced Asia has a per-cap GDP of $30-60,000, is highly urbanized, and has domestic markets that exhibit high-end consumer consumption. In contrast, Emerging Asia provides labor and has steady growth while being highly culturally diverse. Frontier Asia, conversely, has the least integration with the rest of Asia, but represent great new markets as they do integrate with their Asian neighbors.

Rising internal consumption and developed supply-chains are driving the Asia-to-Asia growth. Advanced Asia and China are investing in Emerging Asia. Frontier Asia and India have huge potential but they are hampered by a lack of modern infrastructure and heavy bureaucratic regulations; however, they have a large, young population and plenty of capital for investment. 

There are a number of Asian mega-cities that are competing to become innovation centers, equivalent to Silicon Valley.  Beijing, Shenzhen, and Wuhan in China, Jakarta in Indonesia, Yangoni in Myanmar, and Hyderabad in India are examples.    

Tourism between the Asian countries is booming and in contrast to the past, where Western culture had significant impact culture now flows in both directions, particularly from Japan to the West.

________________________________________________________________

In Part 2 of  'Age of Asia' we'll discuss how western businesses cope and prosper in dealing with this expanding Asian juggernaut.

AD: Fund-House Ventures      www.fundhouse.us

The 10-4-1 Social Media Rule

Posting once a week to your company blog? Don't. A once a week post will not generate enough traffic to your website and not enhance your social media engagement one bit. To get any social media traction you need to post at least 3x per week.

The 10-4-1 Rule is a tried and true way of posting to get the most audience conversions. If you post 15x per week the posts should be broken-down as follows:

• 10 posts should be sharing 'other people's content' to your followers. Principally information gleaned from experts in the industry or others, such as authors and influencers.
•  4 posts should be sharing 'your content that's not directly sales related'. Posts on how to save money, do something better, how-to videos and podcasts. If that content is valuable, your members/followers will share the information with others and over time you will become the expert or influencer.
• 1 post should be a direct sale pitch. A CTA for a special deal, check this out, ends today, sign on, etc.
• Post to Tweeter, Facebook, LinkedIn, Instagram and Google
• 
  

4M Performance - Coming Soon!

In addition, every business must:

1. Have a social media marketing strategy
2. Setup engaging social media profiles
3. Build a rock-solid following
4. Learn how to use each platform for maximum impact

Jim Lavorato, Principal

Fund-House Ventures, LLC and 4M Performance

jlavorato@fundhouse.us

Business Burnout : It's REAL

Burnout is a real issue!

Burnout: It is more common than thought

In a recent Gallup survey, 25% of all U.S. workers felt burnout at work MOST of the time, while 45% reported similar feelings, through less frequently.

And, it's not only in the U.S., similar studies in Europe and Asia conclude that working long hours coupled with increasing levels of stress had a significant role to play in the creation of the 'burnout culture.'

What is burnout?

The pressure of your work and the physical and mental affects of that pressure. Burnout is also related to specific personality types. High achievers are particularly at risk. Often, given their "I can do everything" personalities - these high impact types don't see the burnout coming.

Burnout is a state of chronic stress. It shows itself with physical signs such as complete exhaustion, feeling ill, an inability of sleep, extreme anger, anxiety, and depression. The ultimate solution for many suffering burnout is leaving their job. For others, it leads to complete exhaustion, a sense of failure and being unable to find the strength to do anything about it.

Ad for 4M Performance

Can Burnout Be Cured

Less confrontational workplaces, less comparing of self with others, and re-engaging with people seems to work. Talking to loved ones, colleagues, friends helps and of course recognizing that your burnout exists and you have it.

There is no easy answer. As long as there are high achievers there will always be burnout. It doesn't make a difference if you are a Baby Boomer, Gen X, Millennial, or Gen Z'er the stress and pressure of life and work will take its toil. Some ways of eliminating burnout:

• Control access to your social media
• Say NO to taking on more responsibility and learn to set boundaries
• Document what is causing your stress
• Spend more time with friends, not colleagues
• Take a vacation and mini breaks throughout the year
• Nourish your creative side 

Jim Lavorato, Principal

Fund-House Ventures & 4M Performance

7 Steps to Classical Problem Solving

To be successful in solving any problem a classical seven step approach is required. Those seven steps are defined below:

#1 Define the problem. What is it that needs 'fixing'. Many times this is unclear and needs to be pinpointed.

#2 Disaggregate the problem. Take the problem apart and attack it in pieces. In business you have the profit tree. Revenue = Price + Quantity. Cost = Cost X Quantity. Both need to be broken down and studied.

#3 Prioritize. How important is each component in the disaggregate process and do I have the power to change it. What do I analyze?

#4 Breakdown what has been prioritized. Define a work plan to accomplish tasks and define and fix biases.  Develop a work plan that reflects the level of precision required, the time frame you have, and the stakeholders you need to bring into the process.

Problem solving is not a linear process, it is iterative. Most problems can be solved in a day or even a few hours. If you see a 50 page work plan that goes out six months you know it's wrong! It will be outmoded very quickly by the learning process of the seven steps. This is why diversity in the problem solving team is so important.

#5 The work plan is done. Now you've got to do the analysis. Look at statistics before analyzing and understand the scope and shape of the problem before applying complex analytical approaches and models. Test-and-learn is the methodology to be used.

#6 & 7  Once analyzed the decision maker needs to have the question, "What should I do?" Answered. This is where the people tasked with implementing the problem's solution get motivated to action; otherwise, you haven't solved anything. The bias must be to action or you will end up where you started.

The seven step process allows for biases to be avoided. I am talking about cognitive biases not personal ones, like gender, race, etc. I am talking about biases we carry with us, such as overoptimism, anchoring, and availability (you think you have seen this problem before and therefore have the answer to it). Also the sunflower bias - bias based upon hierarchy.

Jim Lavorato, Principal
Fund House Ventures & 4M Performance

Funny Trends in Retail

As you know, I include odd-ball, but useful trends in products or businesses that I think are not only unique but push the envelop in a good way. Here's several recent ones I found.

Restaurants for One Guest

Restaurant 1:1 - Solo dining only!

With single person meals - the Irma Restaurant chain in Denmark operates the 'Restaurants 1:1'. Set up to seat single diners only, the chain said they wanted to break the stigma around solo dining for a main meal.

The 1:1 only requires one chef and one wait-staff and is set up for intimate dining. Diners can converse with staff or other diners while enjoying their solo meal.

So far the restaurants are a hit and there is a month wait for a reservation.

KFC's Wearable Picnic Anywhere Attire

KFC's latest marketing creation is the 'Picnic Polo' , which allows the wearer to instantly create a picnic anywhere. 

The gingham print polo shirt is designed to convert into a blanket (a large pocket in the shirt houses the picnic blanket extension) for impromptu tailgates and such.

Branded by KFC as the must have for office parties, summer concerts on the lawn, airport hold-overs, or family/twosome outings in parks and rec-areas. "Please pass the gravy".

Porsche On-Demand Subscription Service

All the benefits without ownership

Started last year, the Porsche subscription program allows customers to access the use of 20 different Porsches at prices which vary from $2,100 on up.

There is a subscription fee to join and you must have insurance but the program, started in Atlanta is being expanded to four other cities - Las Vegas, Phoenix, San Diego, and Toronto.

Flexibility and choice push would-be Porsche customers to the on-demand program, with over 80% of members not being previous Porsche owners.  "Happy driving".

Jim Lavorato
Founder Fund-House Ventures & 4M Performance
jlavorato@fundhouse.us  

PR : Often Neglected It Can Make A Business Soar!

You have been toiling for weeks in an effort to launch your new business. You are more than excited. It's your dream come true.
Then..... launch comes and goes. Now, one month later, you've run out of social media marketing ploys and the excitement is over ..... now what?

Could you have gone down another path? One key marketing element that many entrepreneurs overlook is a public relations strategy.  Fact is, many business people don't know or have an understanding of PR and its critical value.

PR is how your business is portrayed to the consuming public and is interwoven with your brand - it matters, Big Time.

Hiring a good PR person or firm (also known as a publicist) can be the make or break of many businesses and must be considered particularly when launching a new business, product, or service.

Why PR Matters

- 'Our Team'  'About Me'  'Our Mission'       'Our Vision'  these buttons appear on very website and lead you to a            narrative (hopefully a compelling one) that may never be read and              therefore never connect with customers. You need to get your WHY            out to the public - it needs to get displayed! That's where PR comes in.

- Market-reach is significantly increased with the right PR strategy: TV and radio shows, broadcast streaming (live and recorded), podcasts, magazines, print media, etc. can be of great influence when placed in front of the right audience.

- PR can have tremendous impact on the public perception of your brand. The more positive exposure and news about you and your company from a variety of sources the greater your importance in the marketplace.

Memberships Start in December 2019

PR is the icing on the cake. It's about exhibiting the positives. Good things happen to good companies and PR is the extra marketing element that will place your business above the fray.

By: Jim Lavorato, Founder/Principal
Fund-House Ventures / 4M Performance

How Does Your Website Stack-up

From start-ups to multinationals - websites are requisite. The all important link between the 'business' and the world. Websites are as varied as the businesses they represent - some are very nicely constructed, while others are poorly conceived and displayed.  How does yours stack-up?

Websites are portals for the world to look through and be informed as to the Why, What, and How of the business. In addition, they must be engaging, customer-centric marketing and sales vehicles. Following are some issues/questions developed by 4M Performance that you can use to compare your site against the norm.

•  Putting up a static website does nothing for the business - it must be active. 
•  Companies running online marketing campaigns get 4X more traffic and 6X more leads.
•  The most clicked-on pages are 'About' and 'Contact'. 
•  Look closely at your Conversion Rate. What is your site's ratio of contact form submissions   vs. site visits. Hopefully it is in the 2% or higher range.
•  How hard is it NOT to submit a lead form?  Make sure your contact page is appealing by:          - Putting it on the Home page                                                                                                          - Putting it on VERY page                                                                                                              - Attach a compelling offer to it         
•   Get more 'qualified' leads. At 100 site visits per month you can expect 1-3 leads. With 600 -      1,000 visits you'll get a healthy flow of leads and a higher conversion rate.
•   Focus on the pages that get the most traffic. Review your site's stats. Note which pages get        the most visits and make sure lead/contact buttons are on these pages along with compelling      offers.

• 

  4M Performance Memberships Available in December

 A website must be viewed as part of the business' larger branding and marketing effort. A great site needs to be marketed (consumers must find it) and marketing needs an amazing site.

Jim Lavorato
Founder/Principal
Fund-House Ventures / 4M Performance

      

Look To Airports When Thinking Retail

                                                       

According to the International Air Transport Association 4.4 billion people took an airplane in 2018 - this figure is expected to grow to 8.2 billion by 2037.  Airports are a great place to open a business and getting better all the time.

Airport Retail on the Rise Worldwide

A properly designed and executed airport retail strategy can result in huge success. Why are airports exception to the retail rule? Because foot traffic is never going to be a problem in this space. And this is the reason why top luxury brands are popping up and placing great emphasis on airport retail. In fact, these brands are realizing more success in airports than traditional retail environments, such as stand-alone shops in malls or in department stores.

4M Performance - Accepting Memberships in December

Very few sales channels have guaranteed traffic and certainly not ones that are growing at the rate  airports are. Anyone looking to open a store, shop, or food establishment of any sort must include airports on their list of where to locate. Airports present a unique opportunity to take advantage of a captive customer sales strategy - go for it.

Jim Lavorato
Principal/Founder
Fund-House Ventures & 4M Performance

Startups ..... Juggling Bowling Balls

There are lots of things to consider when launching a business and the process, for many, is overwhelming.

The failure rate for startups averages 50% - but this doesn't account for the ones that start but never reach the launch point. Here are some tips to assist in getting your 'rocket' off the launch pad.

Have a Plan

What, When, How, and How Much are the bowling balls you'll be juggling and that the Plan should answer. Spend the time thinking and developing the Plan which must include benchmarks and goals to be reached over specific time periods.

Money, Money, Money

Make sure you have the funds necessary to launch your new venture. This is a must. If you don't have the money - don't start until you do! That includes all the funds relevant to the kind of business you are contemplating and is enough to cover all of the anticipated expenses.

Marketing The New Venture

There are only two endeavors that generate sales for any business: marketing and innovation - everything else is an expense. You must have a marketing budget and it should be one of the more significant expenditures in your Plan.

Spend your marketing dollars wisely and track the return value of each promotion dollar. Use both online marketing and traditional media. Segment and pin-point your target market.

Create An Identity

You are the protector of your company's brand. Every business, no matter size, must have a brand and that brand needs to be forged and nurtured. The Brand is the Business - they are one in the same.

You must create an identity for your new business and that identity is market driven. It is based upon a promise you are giving to new customers that your business well perform and 'serve up' exactly what you are marketing.

     Only two actions generate revenue:         Marketing and Innovation -                     everything  else is an expense!





Use Technology to Increase Productivity

Make sure you are using all of the latest technology in building and operating your new business. Only purchase what is needed to manage the business in a efficient and productive way. If necessary  (I say necessary because many of the business apps available come with free tutorials and/or host assistance) seek professional help. Keep in mind that what cost thousands just a few years ago can now be had for hundreds.

CX

The most important task required for a startup is making sure your business is providing a great Customer Experience. This is crucial. Place yourself in your  customers' shoes to ensure that they are receiving what you would require as a customer. The experience must be honest, engaging, easy, and complete.

These startup tips are the ones you'll need to juggle. They are hard. They take time. They demand effort and thought. And they are essential to success.

James Lavorato
Founder & Principal
Fund-House Ventures and 4M Performance

Jim Lavorato Bio

I've been authoring this blog for almost two years and several readers have requested I post my bio, here it is:

Mr. Lavorato is currently President of Entertainment Equipment Corp., which he launched in 1988. EEC sells, installs, and services projection, sound and related equipment to motion picture theaters and educational institutions.

Throughout his career he has been at the forefront of cinema technology - working, for example, with the major Hollywood studios and the Texas Instruments Corp. to spearhead the movie industry's transition to digital presentation and distribution with the development of digital cinema and was instrumental in the success of the first commercial release of a digitally screened feature film ('Star Wars: Attack of the Clones' 2001).

In May of 2000, he founded Cinema Training Central, which offered the first training programs devoted to the cinema exhibition industry.  Further expanding EEC's scope, in 2009 he co-founded the Arboreal Group - an environmental consultancy which transforms existing movie theaters into sustainable structures through the implementation of a compliance and certification process.  Arboreal was conceived and developed based upon the U.S. Green Building Council's LEED Rating System.

Over his career he gained extensive domestic and international experience, living and working in Boston, Buffalo, Los Angeles, New York City. Phoenix, and Pittsburgh, and holding assignments in Frankfurt, Hong Kong, London, Singapore, Tokyo, and throughout Central America.

Prior to launching EEC he had a successful career at the Mellon Bank  where he attained the position of Senior Vice President. He also functioned as the Chief Financial Officer of Mellon International, being responsible for all financial activities at the Bank's Wall Street operations.

Previous to Mellon Bank he worked as a Corporate Analyst for the Itek Corp. which developed and manufactured high-tech optical systems and products used by the U.S. Air Force and NASA. Prior to Itek he worked as a Financial Analyst for the United Brands Company in their Chiquita Food Division.

He has authored numerous articles on the entertainment and media industries. His works have appeared in Film Journal International, Boxoffice Magazine, Theatre World, and is currently a contributing editor to ScreenTrade Magazine. He also authors two blogs - Cinema Mucho Gusto, which provides news, information, and commentary on the cinema industry and Launch Pad, a business advisory provided by Fund-House Ventures/4M Performance - cinemamuchogusto.blogspot.com, fhventures.blogspot.com

In 1978 he earned a Masters in International Management from the Thunderbird School of Global Management, Phoenix, AZ. In 1973 a Masters in Business Administration from Suffolk University, Boston, MA and in 1971 a BA in Accounting from Suffolk University.

Currently he is a member of the U.S. Green Building Council. A certified SCORE Mentor, and a past director of the International Cinema Technology Association.

He resides in Scottsdale, AZ.

The Launching of 4M Performance

4M Performance will be launching shortly. An adjacent product to Fund-House Ventures, the investment and coaching company for emerging and established small businesses, 4MP is an online subscription- based business accelerant. 

As the name implies 4MP will center around the four basic growth factors required by any business, of any size: Management, Marketing, Money, and Momentum. All of 4MP's web-based services will focus upon these four determinants and will ignite very member's business revenue generation and market-reach.

Look for more on 4MP in the coming weeks. Its official launch date has not been as yet set but that doesn't mean you can't have a headstart on obtaining pertinent and useful information about managing your business. Just by reading the posts on Launch Pad (the name of this blog) you'll gain specific and solid information about the current business landscape and how to transverse its many perils and pitfalls.

You will be receiving upcoming news and the official 4MP launch party date/timing shortly. 

Best,
Jim Lavorato, Principal & Founder
Fund-House Ventures & 4M Performance.
James@4MPerformance.com

The Customer Quadrant

The above graphic is called the Customer Quadrants Determinant and is used by businesses in planning how to assess and attack adjacent markets, introducing new products, or launching a new promotional campaign, among other things.

The #1 quadrant is the easiest to market to, which is selling a current/existing product/service to a current customer base.

The #2 quadrant is next, and a bit more difficult to attack. That is, selling a new product/service to a current customer base.

#3 is again more difficult. Marketing an existing product/service to a new customer base.

And lastly, the #4 quadrant - the most difficult and expensive. Marketing a new product/service to a new customer base.

Each quadrant demands a different marketing and sales approach to be successful and a different level of funding and staff to succeed. However, revenue growth and profitability is commensurate as the quadrant number increases.

Jim Lavorato, Principal & Founder
Fund-House Ventures, LLC and 4M Performance
www.fundhouse.us
James@4MPerformance.com

4M Performance : Goes Live Online You'll WANT THIS!

           

    Is Growing Your Business             Worth $7 A Day?  

     How About $7 A Month!!

HOW: Become A Member Of 4M Performance 

WHY: Your Competitor Is Only a Click Away               

4M Performance is a one-of-a-kind management tool conceived to assist businesses in accelerating their revenue growth and market-reach via an online, low cost membership platform. 

Mission: to ensure that your business prospers through the use of the four cornerstones of business success: Management - Marketing - Money - Momentum.

                     So Much For So Little !

                       Only $7 per Month                                                Annual Membership - $70

You will receive solid, relevant, information and takeaways which are practical, doable, and financially feasible via:

•  Podcasts
•  eMail Blasts
•  Live Streamed Broadcasts & Interviews  
•  Informative Videos  
•  Posts from 'Award-winning' Blog   
•  Zoom Chats
•  News Reports
•  Live Q & A Sessions 
•  Access to Business Forums & Coaching 
•  Reference Information / Templates & Forms
•  and more.            

         No Ads.    No Interruptions.   No Pop-ups.  EVER! 
   

This chart illustrates the average fees charged by business consultants/coaches on a per project basis for 2018. 
  

            
Our response: why pay thousands for 'cookie-cutter' consulting when you can receive pertinent and specific expert advice from 4MP at a fraction of the cost! 



                     Grow with Confidence


Access A Wide & Diverse Source of Business Topics , like ......  

•  So You Want To Purchase A Franchise
•  Enterprise Opportunities in the eSports Industry
•  What's Behind Your Logo: Identity & Brand Building
•  Dialing Up Success Through Social Media
•  Emotion-driven Marketing : It Works
•  Coping with Finance/Accounting/Tax issues 
•  Trends in Innovation and Technology
•  Enhancing your CX and EX
•  Marketing to the Z Generation 
•  Cyber Security: How Much Is Required
•  Blockchain's Impact on Your Business
• Managing A Multi-generational Workforce
• Starting UP: How Do I Get Started & Launch
• and lots more                                                                                                                  

       Don't miss out on access to the foremost online                            business performance platform                      

                
               With Knowledge ..... Comes Success

                Register NOW! Only $7 per month 

              


What's My Background

Jim Lavorato

I've been lucky enough to have had a very successful business career with broad domestic and international experience.

I've worked for a Fortune 50 consumer goods corporation, a high-tech company, a money-center bank, and founded two successful businesses: one in the entertainment industry, the other an angel investment firm both of which are profitable and growing businesses.

I'm a writer and have published articles for  BoxOffice Magazine, Film Journal International, and Theater World. Currently I'm a contributing editor to ScreenTrade. I also actively participate as a mentor/coach for several non-profit groups, aiding start-ups in launching their businesses. 

I have a Masters in International Management, a Masters in Business Administration, and majored in accounting undergrad.


Currently there is great opportunity for success but the business environment is fraught with intense competition and demanding, less-loyal consumers.

That's where 4MP comes in. It provides start-ups and small/medium sized businesses the edge they need to compete and accelerate growth.  

LEARN MORE

   

The DiGoddi Method : What Goes Around.........

Nico DiGoddi ran a small grocery store in the neighborhood I grew up in. Everyone in the neighborhood shopped at DiGoddi's and everyone called him by his surname.

DiGoddi styled Italian store

DiGoddi lived in a small apartment behind his store with his aging mother - there was no Mrs. D.  The store was small, about 30ft. wide x 60ft. long but was a mecca of  Italian food which was piled high and filled the store -  barrels of olives to umpteen varietals of pasta and olive oils, along with produce, can goods, cheeses, meats, and baked goods. DiGoddi's was always busy. 

I was about 10 and had been going to DiGoddi's almost on a daily basis for several years, making purchases for my mother, aunt, and grandmother. It was at this time that I was introduced to the 'DiGoddi Method', which marketing gurus now term mystery or suspense marketing. 

The Scenario

One day there was buzz in the neighborhood. DiGoddi had just returned from his annual August visit to "the old country" and brought back a giant Provolone cheese. Without hesitation, I ran down the block turned left and went another half-block - I was in awe. Right in the front window was a Provolone 6ft.high x 3ft. in diameter with a thick white cord wrapped around it. WOW!

Normal sized Provolones

For weeks 'the cheese' (as it was now referred to) just stood there. Customers continually requested  a piece of the cheese but DiGoddi stood firm and non-committal as to the fate of 'the cheese' - it was now mid-October.  Then suddenly, it was announced that 'the cheese' was going to be pre-sold in 5 lb. increments only.

Marketing At Its Best

DiGoddi was a master at marketing. He knew that if he had cut 'the cheese' right-off and sold it in one pound pieces it would have taken weeks and weeks to sell and perhaps much would have gone to waste. Instead he played on the mystery and suspense, the exclusivity - he created the desire! The whole cheese was sold before it was cut.

I was there the day DiGoddi cut 'the cheese'. It was a Saturday morning in early December and he was in great form, weighing out 5, 10, 15 pound parcels at a time. Customers filled the store and went down the block and were not only picking up 'their' cheese but purchasing lots of other items needed for the upcoming Holidays. DiGoddi had planned it that way.

Suspense Marketing Today

The hint, the rumor, the exclusive, the first-to-have, the bespoke - these are the buzz words used in marketing circles today when a product or service is introduced, a sales event is planned, or a new company or product is launched.

Sneak previews and lures via email, blog posts, Instagram, social media marketing, and influencers.These are the new 'cheese' that DiGoddi used years ago - and it works.

For more on this topic and other pertinent information read this blog or get on to our new membership listing - its FREE and comes with lots of 'goodies' and ways to win swag.

Jim Lavorato, Principal
Fund-House Ventures, LLC
www.fundhouse.us
jlavorato@fundhouse.us

Modern Marketing : Transforming How We Sell

Marketing is currently all about brand management and advertising, but this model is quickly transforming into a more subtle and complex endeavor.

Consumers: more engagement, less loyalty

  

Given that there is much more data available for better targeting, segmentation, personalization, and analytics within reach of very business changes the dynamics of marketing. For example, largely driven by mobile, digital-media spend now outpaces TV- ad spend. With all that said, consumer loyalty is declining and competitors are only one click away from your customers. 

So, more data, more digital, more mobile, more opportunity, but less loyalty.


Today's marketers must drive and be accountable for revenue growth, delivering ROI on every marketing and promotional dollar. Their role is morphing to brand protector and overseeing of the constant improvement of the end-to-end customer experience (CX). 

Responding to what the market is communicating in a very agile and swift fashion, consumer connection at the emotional level, messaging and imagery, personal engagement, are all very relevant particularly given the trend of the less loyal customer.



Every business MUST improve their end-to-end customer experience - as competitors are only a click away.

Allocating marketing dollars between spending on digital media, data analytics, and building its martech stack vs. spending on creative copywriting, design, ad campaigns, and other traditional modes is now the norm. Today, very business should be thinking about having an always-on marketing campaign. 

Going forward, for all businesses the accelerant will be based upon being and not doing. Being agile and creative not doing creative one-offs. Being CX not doing CX. 

Jim Lavorato, Founder & Principal
Fund-House Ventures / 4M Performance
fundhouse.us

The Heavy Cost of 'Free' Social Media

Social Media has been around for almost 20 years and today billions use it on a daily basis. Soon, however, all of us will need to decide whether to continue paying for 'free' services by providing unending amounts of personal data or pay upfront for better services that do not exploit our privacy for commercial gain.

When we use data-driven social networks we feed these platforms information regarding our identities, personal relationships, and experiences - this meta-data is than used to bombard each of us with unrelenting, user-specific advertising with uncanny precision. For example, Facebook, despite its denials to the contrary, focuses not on creating a community of users but in developing an ever more efficient advertising/marketing platform.

Consumers are recognizing that there is great value in obtaining 'real' news that is well-researched, fact-checked, and truthful - and are willing to pay for this vs. getting 'fake' news, unverified press releases, and click-bait.  This situation will force people to migrate to quality services and give rise to new, smaller fee-based social networks rather than those that collect our personal data, use it, and provide us nothing of value in return.

It was only a short-time ago when the experts said consumers would never pay for music or streaming movies, but people have demonstrated that they are willing to pay for quality 'experience'.  I believe, at this point in time, consumers are willing to pay a little to get access to sites and services that aren't awash with bots, fake news and antisocial behavior.

People are waking up to the heavy cost of 'free' social media. It's time for us to recognize this and move to more beneficial and useful ways of using the power of the internet.

Jim Lavorato, Founder & Principal

Fund-House Ventures, LLC
fundhouse.us

Part #3 - Gen Z And How They'll Impact Business

This is the final part in a 3 part series-post on Z Generation and their impact on business.

Three forces are emerging from the Z Generation that will force businesses to think and operate differently and those forces are driven by technology and behavior.

Possession Replaced By Access

The Gen Z'er is a more pragmatic and realistic consumer and is inclined to access and evaluate a wide
range of information before purchasing.

For Z'ers, consumption means having access to products and services but not necessarily owning them. Car-riding services, video streaming, and the subscription model for almost any good or service is quickly becoming the norm.

For example, auto manufacturers are renting out vehicles directly to consumers, so instead of selling 100 cars they sell one car to 100 people. The sporting-goods business is transforming by providing access to equipment and coaching vs. just selling sport gear. Companies, to succeed, must  create products, services, and experiences that 'connect' consumers to their brand.

Gen Z - it's all about identity

Singularity: Consumption Expressed As Individual Identity

Gen Z'ers are all about identity. Consumption therefore becomes a means of self-expression vs. adhering to the norms of a group. More importantly, Z'ers are willing to pay more for personalized items. The days of the bespoke are upon us.

To cater to Z'ers, who are always and everywhere online, companies must develop a data strategy that guides what they offer in terms of product/service by collecting and interpreting customer  information - while, at the same time, protecting the privacy of that data.

Companies will have a two-track business model: one for scale and mass production and one for customization catered to specific consumers. Companies will have to become more agile and flexible to survive.

Consumption Steeped in Ethics

More and more, consumers expect brands to 'take a stand'. The goal being to take positions on topics or causes that make sense for the brand. In most cases, these should not be political in nature but  must match the brand's ideals.

Gen Z'ers are well educated about brands: the origins of what they are buying, where it is made, what it is made from, and how it is made. Therefore, marketing, in the digital age, will pose complex challenges as traditional channels of distribution become more fragmented and ever changing.

In Summary

Young generations have always influenced trends and behaviors in societies. For Gen Z'ers the search for truth is at the center of their behavior and consumption patterns and technology has given them unprecedented connectivity and access to information.   For companies, this brings both challenge and opportunity - but a business must be open to it, recognize it, and embrace it.


Jim Lavorato, Principal
Fund-House Ventures
www.fundhouse.com