Very few markets are dominated by the low-cost supplier. In fact, it is often noted (with surprise) that the dominant player in a given market is able to maintain its dominance even with higher prices. The classic example is Starbucks, which decommoditized the coffee marketplace. Starbucks replaced the 50-cent cup of joe with a $2 “low-end” product and successful offerings as high as $4.95.

Here are three ways you can avoid the commodity trap:

1. Decide. The most important leap you need to take if you want to de-commoditize your business is a willingness to say no to a portion of your marketplace. You can’t sell to everybody, and you can’t sell to the portion of the marketplace that views price as its most important decision driver. If the guiding principle of the company is “we will never lose on price,” the company is admitting that it has failed to establish differentiators that its customers will pay for, and in which it has confidence.

2. Segment. The Segment step is a matter of research and analytics. The Segment step is the very difficult, soul-wrenching process of deciding which segments you can serve most profitably, what segments you should say no to, and dedicating product development, partnering strategies, marketing resources, go-to-market strategies and sales resources to serving those segments better than anyone else.

3. Price. Choose a pricing strategy and stick with it. Your pricing strategy is largely a function of your marketplace’s maturity. A revolutionary product with an entirely new value proposition should command a premium price. This is in part simple recognition that most prospects won’t buy it; they need to be educated. The ones who will buy it are typically willing to pay premium prices, and the high price is itself a statement of the value being offered.

For three more important de-commoditization strategies, read “Six Tips to De-Commoditization” in the May issue of Promotional Consultant, available in your inbox.

Source: Per Sjofors is a speaker, author and the founder and CEO of Atenga, Inc., a leading pricing strategy authority. He has more than 20 years of executive management experience and has built a number of successful, and very profitable, sales and marketing companies in Europe and in the U.S.

In order to determine when to introduce a case study, you must first have a good understanding of your customer’s buying cycle. While every industry is different and buying cycle lengths are different, generally speaking, there are four phases of a buying cycle: awareness, consideration, evaluation and purchase.

Case studies can be effective in different phases of the buying cycle, depending on the goal of the case study and how it’s structured. A case study that emphasizes potential benefits and business results can be effective in phases one and two of the buying cycle where the potential customer is becoming aware of their pain points and your solutions. A customer success story that focuses on what differentiates you from your competitors by highlighting your great customer service would be more appropriate for potential customers who are in the evaluation phase of the sales cycle.

The buying phase you want to influence will also determine the way you distribute your case study. During the awareness phase, the potential customer will find your case study, either on your website, through search engines or perhaps through distribution, such as a tradeshow booth.

In the consideration phase, your potential customer might come across your case study landing page, either through an e-mail campaign that you send to leads, through social media links or other contacts. In general, these prospects have already had some level of interaction with your business, even if it was a one-time touch.

Case studies used in the evaluation phase are going to be more detailed, showing actual comparisons to competitors. At this point, the customer has had more contact with your organization. This could be a tool that a sales professional personally gives to the potential customer to help influence the final decision.

When determining the most effective ways to use case studies, realize that there are multiple ways to draft, promote and distribute this tool, depending on who you want to influence, and how and when you want to influence their decision.

Source: Cassandra Johnson is a tech-savvy marketing communications consultant and freelance writer. She reports on the latest trends in the promotional products industry, public relations, direct marketing, e-marketing and more. She supports clients in a variety of industries, including promotional products, hospitality, financial services, technology and healthcare.

Part two of Promotional Consultant Today‘s case study series shares these tips for marketing and distributing your case studies.

1. Define your audiences and your objectives for the case study. You might find that you have multiple audiences, such as marketing managers from several different industries. Look at these audiences and determine how they like to receive this information.

2. Clarify your objectives for your case study. Do you want industry influencers to quote your case study? Do you simply want to share your case study as a “reason to believe” that a potential customer should do business with you? Determine your goals, as this will affect your distribution strategy.

3. Optimize your case study and your website. When writing a case study, it’s important to include specific key words in the headlines and subheads of the case study to make it more appealing to search engines. These key words should be terms that your audience would type into a Google search box. This will make your case study more searchable.

4. Establish a resource page on your website where you can house case studies and other reference materials. From this page you can create a separate landing page for the case study so it will not only be optimized for search engines to get found, but also offer a direct link for companies to use on their social networks. On the landing page, include a clear call to action above the fold to drive visitors to download your case. It’s also important to use key words in the headline and meta data of your landing page.

5. Consider implementing a lead form for visitors to fill out in order to download the case study so that you can capture your potential customers’ information.

6. Beyond just listing on your website, use the power of online distribution to get your case study in front of prospects. If you want to attract trade media to your case study, then send a press release about your case study through PRWeb, PR Newswire and to relevant industry bloggers. Also post a link to your case study’s landing page on your social media sites as well as other influential social media sites. For example, if you participate in a LinkedIn group, share a link to the case study as a way to answer a group question.

Read tomorrow’s PCT, as we take a further look at case studies and other content to determine its most effective point in the buying cycle.

Source: Cassandra Johnson is a tech-savvy marketing communications consultant and freelance writer. She reports on the latest trends in the promotional products industry, public relations, direct marketing, e-marketing and more. She supports clients in a variety of industries, including promotional products, hospitality, financial services, technology and healthcare.

1. Goal first, customer second. The most important element of an effective case study is the goal of the study. Often times, businesses take a backward approach to developing a case study by determining the customer first. Instead, determine what you want to illustrate. Is it your success in developing incentives programs? Is it your company’s ability to deliver fast turn-around service? Whatever the sales objective, identify it first and then determine the customer that best represents this capability.

2. Key takeaways. Once you’ve identified your goal and the customer that best represents this area of success, identify the top three or four key points that you want your reader to get by reading this case study.

3. Customer insight. The next critical step is to interview your customer to get that person’s insight on the program you worked on with them. What the customer might have found valuable in your program might be different than what you found valuable. Also, customer quotes are important in providing that third-party endorsement to your case study.

4. Metrics. The key to making a case study compelling is to show the quantifiable difference your product or service made to the customer’s business. Identify key metrics that best represent your level of success with that customer.

5. Graphs and images. Once you’ve identified the metrics, showcase these results in a visual way through graphics, charts and images. This visual element adds a level of appeal to your case study. Be sure to use key words in these charts and provide alt tags for your images in order to optimize your case study for search engines.

6. Easy format. Finally, put your case study in a fast, easy-to-read format so that it serves as a quick reference tool for potential clients. They should be able to understand the customer’s problem, your solution and the measurable results in a short glance. Plus, link to other customer case studies at the end of your case study to show the reader additional ways you can help their business.

For more case study tips, read tomorrow’s PCT for ways to distribute your case study.

Source: Cassandra Johnson is a tech-savvy marketing communications consultant and freelance writer. She reports on the latest trends in the promotional products industry, public relations, direct marketing, e-marketing and more. She supports clients in a variety of industries, including promotional products, hospitality, financial services, technology and healthcare.

Use public speaking in front of groups as a way to position yourself as an expert or an authority in your field. The minute you stand in front of a room full of people, you’re automatically seen as an expert. Develop a sense of humor or at least memorize a few jokes. People are more open to new ideas right after a good chuckle. If speaking makes you uncomfortable, consider joining a Toastmasters group for practice and constructive support.

Discover ways to keep your energy level. You can work 24/7 and never get everything done. Learn to delegate things to others who are better suited and love to do the tasks you don’t have to do. Building up your success only to crash and burn a year or two later is no fun. Plus, in 2012 you never know when someone has a camera and captures you being you.

Use short videos (no more than five minutes) to share helpful tips and ideas about your expertise and how you help customers. Or, tell people about exciting events coming up in your business or life. Don’t be afraid to share your successes when they happen. Let your enthusiasm and passion for what you love shine. Upload them to a platform such as YouTube and share them all over the web.

Share your story of success in a way that’s emotionally compelling and helps people relate to you and what you’re all about. If you’re a positive person, generally you want to forget the tough times. But that’s where your ideal customer is at right now, in need of your product or service. There’s a way to craft your story so you come across as a person who has overcome obstacles and who can relate to their concerns now.

These strategies provide the broad brushstrokes for gaining business exposure. When you harness and leverage these secrets, you’ll be well on your way to commanding the influence and positive attention that will help your business grow successfully.

Source: Best-selling authors Stacey Hall and Denise Michaels teach business owners ways to become influential and an “overnight sensation” in their own right.

For Feature Friday, Promotional Consult Today shares this excerpt from the May issue of Promotional Consultant magazine, outlining the opportunities in cause marketing programs.

Designed in partnership with the foundation’s corporate sponsor, Nike, the iconic yellow LIVESTRONG wristband became the catalyst for a groundswell of support that began in Austin and eventually swept the nation. The wristband became so popular that it ultimately raised more than $100 million and created priceless awareness for the foundation’s cause.

“After those initial 1,000 wristbands were distributed in Austin, they went on sale online (at www.livestrong.org) as well as at Nike retail outlets,” says Rachel Armbruster, the former director of development for the Lance Armstrong Foundation who managed the Nike relationship that created the LIVESTRONG bracelet campaign. “As of 2011, 84 million LIVESTRONG silicone bracelets have been sold.”

Options And Opportunities
Armbruster has specific suggestions for distributors who may want to pitch their idea to either a for-profit company or nonprofit organization. When pitching a nonprofit, ask for the organization’s fundraising director. To pitch a for-profit, establish inroads with the company’s community relations director or cause-marketing director.

• Position yourself to have a seat at the table sooner rather than later to understand the core of what they are trying to accomplish and what the best premium is to do that.
• Cause-marketing campaigns don’t have to be conducted at a national level; they are just as effective when implemented locally.

To read the complete article, see the May issue of Promotional Consultant digital magazine, available now in your e-mail inbox or at pubs.ppai.org.

Source: Brittany Glenn writes about current issues, trends and the economy for consumer and business-to-business magazines. She is a former associate editor of PPB magazine.

Your presence is essential on social networking platforms such as Facebook. Connect with movers and shakers you want to know. Add comments, start a group of followers or develop a fan page. Don’t know what to say? Share what you’re doing in a compelling way. There’s only one degree of separation with social networking. Post daily and build a fan base.

Conduct business with integrity and honesty—not for a quick buck. In this new era of citizen media, disgruntled customers can spin out of control and destroy your reputation faster than you can say “Twitter.” Trust is critical to your success in the post-Bernie Madoff environment. Take care of customers and let them go online with a positive story about your business, not a negative one.

Get comfortable with media including radio, television, print and online sources. Surprisingly, radio is an unsung hero because you have an opportunity to tell listeners how to connect with you. Print can be powerful, too. Professional trade journals are usually crying out for fresh articles for their eager readers. If you’re uncomfortable with this strategy, remember that every day you own a business is like the toughest business seminar you’ll ever attend. Be willing to stretch.

Read tomorrow’s PCT for more ways to become an overnight sensation.

Source: Best-selling authors Stacey Hall and Denise Michaels teach business owners ways to become influential and an “overnight sensation” in their own right.

Of course, we all want to avoid the managerial and professional mistakes of our predecessors, but sometimes that’s hard to do when organizational culture is entrenched. Promotional Consultant Today shares these insights when making that transition.

To Gain Change, Change Must Be Made
In other words, lead by example. Understand that some of your former peers will understand these changes, while others will try to hold on to the old ways. Some co-workers will now look at you differently, but you can’t allow this to deter you from new managerial goals. Be forceful yet considerate in making any desired changes.

Office Friendships
The No. 1 mistake that some bosses make is trying to be friends with their subordinates. They believe that if everyone likes each other, the office will be more cooperative and run more smoothly. However, it has the opposite effect. Friends are on the same level as one another, while managers and employees have a hierarchical relationship. Since friends do not order each other around, this method of management rarely works.

Instead, set the foundation of new relationships with employees on day one, addressing the new situation in a staff meeting, openly sharing your new vision and expectations, and outlining the new direction and policies that you want to establish moving forward.

Transparency And Respect
At first these new changes might cause tension since there will be some who test new authority. During this transition, maintain focus on achieving goals while being respectful. If you continue to behave fairly and openly with your staff, insisting on being treated with the same respect and professionalism, the team will come to support your endeavors. Employees should trust their bosses and know that they can come to the boss for help.

New managers should take the best of what they’ve learned along the way and reject what no longer works while injecting their own style and values, in an effort to create a respectful harmonious working environment that will achieve both the company’s mission and bottom line.

Source: Esther Francis Joseph is a personal and family coach and author of Memories of Hell, Visions of Heaven: A Story of Survival, Transformation, and Hope, her personal story of survival and perseverance, despite a violent childhood. Raised on the picturesque island of St. Lucia, Joseph molds her literary talents with her childhood experiences as she continues down her path to leading a joyous and fulfilled adult life.

Recognize your own emotions. Awareness usually requires practice. You’re in a meeting, and Bob says something that you know is absolutely wrong. “How could anyone be that stupid?” you think. Your first instinct is to call him out and show him his errors. But you’ve been down that road before and know it will only embarrass Bob and ultimately make you look small. Besides, you may not even know all the facts that are behind his opinion.

Fortunately, you recognize that you’re angry and you’ve learned to coach yourself to hold back on your response. You slow it down and engage your cognitive quarterback to come up with a plan B.

Manage your emotions. Your goal is to respond with honor and respect because that’s one of your personal values. One that might work is to say something such as, “Bob, I had not thought of it like that before. Can you explain the logic of how that would work?” Of course, tone of voice and body language are very important to pulling this off because they are two of your strongest communicators of emotions. Once Bob gives his explanation, more than likely you will see that he’s just operating with a different perspective. You’ve managed your emotions and maintained your decorum–signs of a good EQ.

Recognize the emotions of others. On the way back from the conference room, you run into Jane, one of your peers, who seems overwhelmed. You’re depending on her to deliver the data that you need for the next step of your project and the deadline is tomorrow. Your immediate fear is that it’s not going to happen. Now that you’ve been working to raise your EQ, you mentally push back on your fear and consider what your teammate is up against and how her confidence and energy are sagging. It doesn’t take an EQ genius to realize that putting a guilt trip on her is probably not a good idea, but what can you do?

Respond appropriately/effectively to the emotions of others. You focus on encouraging Jane by showing her some encouragement, telling her that you understand things are difficult right now and asking if there are ways that you and your team can help. You also offer to listen to her challenges and brainstorm with her on solutions. You close out by reminding her that she is a great teammate and that you have confidence in her judgment.

In the simplest terms, EQ is about reading the situation and then acting in the most effective manner. It does get easier with practice, and it makes you the kind of leader that others want to follow.

Source: Lee Ellis is a speaker and the author of Leading With Honor: Leadership Lessons From The Hanoi Hilton, in which he shares his experiences as a Vietnam POW and highlights leadership lessons learned in the camps. As president of Leadership Freedom, a leadership and team development consulting and coaching company, he consults with Fortune 500 senior executives in the areas of hiring, teambuilding, executive development and succession planning.

Promotional Consultant Today takes a look at emotional intelligence and how lack of awareness can hinder your success.

Why should you care about emotional intelligence? This can limit a person’s career and influence more than IQ. What indicates good emotional intelligence? It’s really about being aware of and responding effectively to emotions–our own and those of others.

In many ways, good EQ is similar to the common courtesies that were emphasized in previous generations. After all, the sage advice about “counting to 10″ when you feel anger is about as scientific as you can get. We now know that the emotional part of the brain (the amygdala–pronounced a-mig-da-la) reacts four times faster than our cognitive quarterback in the pre-frontal cortex. In simpler terms, learning to slow down our response to emotional situations can keep us out of trouble.

The amygdala is part of the limbic system and is the source of our natural protective response for flight or fight. For many who train regularly for combat–military, law enforcement, athletes–tapping into this source of high energy for a crisis response helps performance. To some degree, all of us use and misuse this natural instinct to fight or flee–to dominate or withdraw.

So, the key to good emotional intelligence is awareness. Until we become aware of our emotions and predict where they will take us, we’re clueless as to how to manage them; and that’s what we really want to do. Likewise, an awareness of the emotions of others helps us manage our response to facilitate the most effective interaction. Having good EQ may sound somewhat soft, but it’s actually very powerful because it’s about being the most effective we can be. It begins with awareness–we can’t manage what we don’t recognize–and then it’s about managing our own emotions and responses to others.

Now that you are aware of emotional intelligence, read tomorrow’s PCT to learn four ways to manage it.

Source: Lee Ellis is a speaker and the author of Leading With Honor: Leadership Lessons from the Hanoi Hilton, in which he shares his experiences as a Vietnam POW and highlights leadership lessons learned in the camps. As president of Leadership Freedom, a leadership and team development consulting and coaching company, he consults with Fortune 500 senior executives in the areas of hiring, teambuilding, executive development and succession planning.