#powerfeedback

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Blog Break

Q4 has become extremely busy and even trying to produce a weekly blog post has become a huge challenge. Rather than do anything halfheartedly I anticipate taking a break from posting new anything until after the first of the year.

Thanks for your continued support and interest in my posts! Until I return I would like to leave you with this Steve Jobs quote that resonates heavily with me, and I suspect many of you.

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."

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What Technology Doesn't Do

I have said this many times over the years, but I say again, I love technology. Though I long-ago abandoned being on the bleeding edge of the tech frontier, I do my best to stay current with the latest developments and offerings. My interest includes hardware and software, plus social networks.

As much as I embrace all things technology, I am reminded on a regular basis how important face to face contact is. I can not recall a time where I had an in-person meeting with someone that did not produce unexpected, albeit positive opportunities.

We can correspond via email, tweet each other, send sms messages back and forth, update our Facebook status to keep each other informed, or post news on Linkedin, but at the end of the day if we are going to forge something meaningful, it will most likely be done eye to eye.

What has been your experience with business successes using technology versus in-person?

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Do You Like Being Taken For Granted?

How many times have you felt like a business owner really doesn't care if you ever come back to their business or not?

Powerfeedback recently conducted a general population survey in which we asked respondents whether or not they continue to patronize a business even if they are not treated with respect or if they feel that their patronage is valued. Surprisingly, 53% said that they do. When we questioned this further participants cited both convenience and familiarity as the primary reasons for this decision.

Candidly I must admit that I was surprised by this result. In my case if I am a regular at an establishment and I see that my business is not appreciated I move on. Of course I do make certain to say something before I take this step.

Business owners typically focus heavily on attracting new patrons but do far less to maintain the current base of business. This strategy is filled with numerous potholes especially when you consider that word-of-mouth advertising is still the most effective means of acquiring customers.

If you own a business what steps do you take to make certain that your existing customer base is still feeling loyal and connected to your business?

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What Would Columbus Do?

As we approach the celebration of Columbus Day I often ask where are today's explorers and navigators.

In my world of market research and business consulting I work with companies who are seeking out new and useful information (a.k.a. "explorers") and while also looking for direction on what to do (a.k.a. "navigators") with the collected intelligence. The challenge for them more times than not is actually executing what the gathered information reveals.

Compounding their challenge is that all too many market research firms rely heavily on technicians to lead market research initiatives. While many of these people are competent, they lack the business sense and insight needed to understand what role the accumulated knowledge has in moving the business forward.

Christopher Columbus assembled detailed information before each voyage and also gave consideration to what he would do once he landed at his desired destination.

Are you following Columbus's example? Are you working with a market research firm that not only answers your questions but challenges you with new ideas and concepts? If not, it is time to call Powerfeedback to discuss how we utilize market research to decisively benefit you and your business!

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How Do You Overcome Obstacles?

Do you train your staff on how to properly overcome barriers and how to best deal with objections?

Yesterday I received a phone call from a market research company on behalf of my bank wanting to do a customer satisfaction survey. After asking how long it would take, I then asked what the incentive was to participate. The "interviewer", and I am being generous with the use of that term, was stunned and asked me what I meant. I asked if there was a financial (i.e. gift card, discount on services, etc.) incentive for me to participate. She said that there was not. When I then asked why I should participate given that there was theoretically nothing in this for me, once again the interviewer was stunned and now speechless.

Whether your people engage people by telephone or in person they must be given the skills and strategy to overcome situations like this, and yes, most times they can be overcome.

By the way, a letter is on its way to my bank asking them why they are not using Powerfeedback for their qualitative and quantitative market research needs!

What training do you give your employees to better handle situations like this? If you are an employee, do you receive the training you feel that you need to overcome objections and obstacles?

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Have you ever been stunned to meet someone who can have an immediate impact on your life?

I have long subscribed to the theory that anybody you encounter in your life can provide an educational opportunity for you. We often think of these "educators" as chief executives, politicians, celebrities or media people when in fact every one of us has knowledge that will benefit someone.

I was vividly reminded of this yesterday. Filled with concern over a personal matter I stopped into the Town Square Diner in Wharton, New Jersey for lunch and was seated at Josephine's table. Josephine's greeting to me included the customary "how are you" question, which I did not answer with the customary "okay", and in fact told her actually how exactly my day was going. She then took the time to tell me of her own story in the realm I described. She offered reassurance which was much more than lip service or platitudes. Her words resonated with me immediately and reassured me like a warm blanket on a cold morning.

I never met Josephine before and in fact don't recall ever stopping into this eatery prior to yesterday. Though it would be easy for some to bypass someone in her position, I have learned all too well from previous situations in my life that EVERY and ANYBODY can provide you with pearls of wisdom that can have a dramatic and positive impact on your life.

Have you ever been given insight from an unlikely and unexpected source?

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The Other Jobs Problem

With over 14 million people unemployed you would assume that all of the available jobs are accounted for, right?

Unfortunately you would be wrong.

I have met a number of small business owners who are unable to fill available jobs. This is especially problematic for eateries. Why is this the case you ask? Typically these establishments pay an hourly wage of $8-10. If they were to work a 40 hour week, using $9 an hour as a base, that would be $360 per week. Juxtapose that to unemployment insurance compensation (UIC) which might pay $300-400 per week, many people opt for the UIC benefit check.

No, this is not a rant against people who choose the UIC check versus employment, the problem is deeper than that. By accepting this type of job candidates are likely to limit their availability for any interviews that may come up as well as restrict their time to network and attend job fairs.

Make no mistake, I am not taking a position on this situation one way or another, I am simply stating the situation at hand.

Some may suggest that employers might consider paying a higher hourly wage. After interviewing hundreds of these small business owners I can say unequivcoally that they do not have the profit margins to support paying more in wages if they wish to remain in business.

What is the solution to this conundrum? I would love to hear your thoughts and ideas!

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How clients get screwed by CATI

You gladly participate each and every time one of those nice interviewers calls your home to participate in a survey, right?

Lately I have been getting swamped with many such calls. Generally speaking many of the interviewers who call are nice, well, as long as you don’t ask them to deviate from their script!

Since I am in the market research business and well understand how difficult it is to get people to participate I try to do my part. Call it a mix of being a nice guy and good karma for when my Powerfeedback team makes similar calls ☺

I will always ask how long the survey will take. If it will be more than 2-3 minutes, I ask them for the website where I can complete the survey later, at my convenience. 99% of the time there is no other option to participate in their research.

I well understand and appreciate that there is big differences between computer assisted telephone interviewing (CATI) and a web survey but I also know very well that a great deal of intelligence is left out as valuable participants are often excluded from the research.

If your market research vendor is not fully explaining to you all of the options as well as the pitfalls of CATI, you are probably with the wrong company! There are many ways to make certain that you get truly valuable information and not just the required number of completes.

To discuss your options, please email me personally.