Spinmedals

How Marketers Can Use Audience Segmentation to Achieve Rich ROI

Administrator — Tue, 20 Aug 2024 12:54:42 +0000

Guaranteeing an ad’s effectiveness begins with making sure your client’s ads get in front of the right audience. After all, you and your client created the ad to target a very specific consumer group, right? Audience segmentation is the key to getting the results your client expects from their ads.

What is Audience Segmentation?

According to Mailchimp, audience segmentation is “a marketing strategy based on identifying subgroups within the target audience in order to deliver more tailored messaging and build stronger connections.” Subgroups can be based on demographics, behavior, psychographics and more.

Segmentation Starts with Data

Obviously to start identifying subgroups within your client’s target audience, you need data on them. Luckily, the more consumers interact with your client, the more breadcrumbs they leave to follow and build profiles on.

Some of the most popular methods marketers use to capture data, according to a study by Salesforce, include:

Customer service data: 88% of marketers use this data collection method

Transaction data: 82%

Mobile apps: 82%

Web registration/account creation: 82%

Loyalty programs: 80%

Subscriptions (like newsletters): 75%

And of course, there’s AudienceSCAN on AdMall by SalesFuel. Using this tool, you can look up your client’s target audience’s profile to learn:

Demographic information (e.g., gender, age, average household income, etc.)

Purchase intentions for the upcoming year

Personal interests

Favorite things (e.g., TV/movie and music genres, sports, etc.)

Marketing information (e.g. which types of ads influenced them to take action within the last year)

All these sources of information can help you and your client identify subgroups within their target audience. Once you have those, you can start practicing audience segmentation among your client’s ads.

Personalization

Knowing who is among your client’s target audience’s subgroups and their wants and needs is invaluable to personalization. But first, you need to use the data you collected to know where to place the targeted ads.

Salesforce says that marketers engage with customers across an average of 10 channels. They usually include:

Social media: 93% of marketers utilize this marketing channel

Their own websites and apps: 91%

Digital ads: 90%

Email marketing: 90%

Digital content: 87%

With your audience segmentation research, you’ll know exactly which of these (or other) ad platforms to focus on. Remember, your client shouldn’t follow the herd, they should go where their potential customers want to be interacted with.

Your client also shouldn’t stop with one-off personalized ads. Salesforce recommends taking a lifecycle approach to personalization and connecting with consumers every step of the way.

How can you and your client possibly accomplish that in a time- and cost-effective way? The answer is AI.

AI and Personalization

AI can work wonders with both individual and audience segmentation-based marketing efforts. For example:

Individuals: Say a consumer starts shopping on your client’s website but then abandons their shopping cart. AI can flag this information to send an email ad reminding them of what was left behind. Plus, it could include a coupon for one of the items to encourage them to complete their purchase.

Audience Segments: Marketers everywhere have begun using AI for content creation, optimization and data collection. You can ask AI to perform research on your client’s audience subgroups. This information provides a way to see what they’re currently interested in and responding to. Plus, it can even write up a first draft of a related ad.

AI can help you and your client quickly and easily put your audience segmentation data into action.

Conclusion

The data doesn’t lie. Once you’ve identified subgroups within your client’s target audience, it becomes even easier to create ads. You can help craft ads that are relevant and motivating to them. Get started on your client’s audience segmentation journey watch their ad ROI shoot up.

Photo by: Nicholas Green

Best Sales Strategies Don't Include Covert Manipulation

Administrator — Tue, 20 Aug 2024 12:50:37 +0000

Ethics differ from person to person. An unethical deed can be morally wrong but not illegal. Similarly, manipulating a person’s opinion can be rationalized if it serves our best sales strategies to further our purpose.

It’s often a matter of degrees as to how much manipulation is too much. And we can always minimize the situation or make excuses as to why it was necessary. Whichever rationale you choose, just make sure you’re not manipulating yourself.

“People who are covert manipulators don’t always recognize what they are doing.” That’s according to psychologist, Seth J. Gillihan who specializes in cognitive behavioral therapy and writes in Psychology Today. Whereas blatant manipulation is obvious, covert attempts to influence others can go unrecognized — even to ourselves.

Gillihan explains that we often have blind spots for our own negative actions. What’s more, these acts can become “habitual and automatic, almost outside conscious awareness.”

If you find yourself shrewdly trying to influence what others think, feel or do, you may be a manipulator. These fabricated acknowledgements can lead to mistrust and wind up sinking a business relationship. Certainly not among the best sales strategies you would want for future success.

Confessions of a Covert Manipulator

Gillihan’s article offered seven common signs of covert manipulation and I urge you to check them out. Several resonate with me because I am totally guilty. Below are my rationale and the acts which I will be more aware of in the future.

Rationale #1: Selectively sharing information

“I discovered it, but it doesn’t mean I have to share it; especially if it’s outside my best sales strategy.” — Controlling information is a short-term solution leading to short-term relationships. ‘Buyer beware’ is not sustainable in repeating B2B sales.

Rationale #2: Go along to get along

Being a nice person is easy if you can ignore being taken advantage of or disrespected. However, faking “nice” will arise in suppressed feelings. It may show in your professional life or personal life, but, believe me, it will repeat.

Rationale #3: Use flattery to make others feel good about themselves

By virtue of birth order (last-born), I am manipulative and charming. I recognize my power and try to use it wisely. Further, I’ve had good results and bad depending on the authenticity of my compliments – and how accurately I can recall them.

Much like a lie, it’s hard to maintain the demands of manipulative behavior. It’s never among the best sales strategies and sooner or later it will catch up with you.

Covert Manipulators Have a Hidden Agenda

There are many reasons why people are manipulative. First, they may lack the skills or confidence to influence people legitimately. Therefore, they resort to underhanded tactics to get what they want.

However, more complex motives for their behavior may exist. Dr Harriet B. Braiker identified that manipulative people:

“Feel the need to get what they want at the expense of others”

“Need to have power and authority in their relationships”

“Want to feel in control”

Stop the Cycle of Manipulation

A lack of honesty gets in the way of a genuine connection and ruins a culture of trust and credibility. Gillihan has more advice about breaking the cycle of manipulation:

Know your intentions and why.

How genuine are your actions?

Where does the flattery come from?

Bottom line: We must strive to become more direct and curious about our actions and less protective of our own sensibilities. There are times when you protect your client and times when you protect yourself.

The best sales strategies have never been about deception or manipulation. Understanding why and where manipulation is coming from is key to an authentic sales proposal.

Photo by thomas vanhaecht on Pexels.com.

Super Bowl Altercation Between Travis Kelce and Coach Andy Reid – What Do You Think?

Administrator — Tue, 20 Aug 2024 12:47:14 +0000

During the first half of the Super Bowl that featured the Kansas City Chiefs against the San Francisco 49ers, the Chiefs were not playing very well. To make matters worse, they had just fumbled the ball. So, an irate player for the Chiefs, Travis Kelce (a.k.a. Taylor Swift’s boyfriend) approaches head coach, Andy Reid on the sideline. Kelce grabs Reid by the arm, bumps him to the point that he loses his balance, and from about two inches from his face, he vehemently yells something to his coach.

Since then, everybody in the world has expressed an opinion about this 10-second incident. Every sports talk show and news show has debated this altercation. Dedicated fans and casual observers alike have expressed definite opinions on this. The interesting part is how differently two people can interpret the same 10-second exchange between a player and a coach. It’s amazing to just watch and listen, as have I, to the multitude of opinions. So, let’s dissect this one more time and then you will be asked to offer your opinion.

Pro Argument – Passion & Relationships: This is what passion looks like. Football is a game that should be played with great emotion. Travis Kelce obviously does. When he saw his teammate fumble the ball, his first instinct was to tell his coach that his best player should not be sitting on the bench in that important situation. He was basically saying, “Put me in coach. I can get this done for you.” He got a little overly excited when he did this though. To the naked eye or the casual observer, the optics of this looks bad. However, the coach and the player have a long-term relationship based on respect. It is because of this relationship that allows for just such a “fiery, on-field display of emotions.” In fact, after the game was over, Coach Reid commented on this incident by saying, “He was really coming over to say, ‘put me in coach,’ I love that.” As an outsider, it is easy to judge such a momentary exchange, but the two individuals who were involved thought nothing of it. It’s just this type of passion that led Kansas City to their second Super Bowl victory in the last two years. Don’t criticize it, learn from it.

Con Argument – Crossing the Line & Poor Role Modeling: The bottom line is if this happened in high school, the player would be kicked out of the game and probably suspended for the rest of the season. A player cannot touch a coach. A player cannot even yell at a coach like that. It’s wrong. It crosses the line. And, to do it in such a high-profile game while the world is watching… well, it just gives millions of high school athletes permission to act the same way. I can hear the kids now, saying, “Travis Kelce did the same thing during the Super Bowl and he didn’t get punished, why are you punishing me?” We also seem to be excusing Travis’s behavior because they ultimately won the game. The ends justify the means kinda thing. But, it does not. What Travis did was wrong regardless of the outcome. During an interview, Travis’s brother (also in the NFL), said, “You crossed the line.” Travis responded, “I did. I can’t get that fired up to the point where I’m bumping coaches.” Pro athletes in the Super Bowl should be held to the same standard, and we should not give Travis ‘a pass’ on this one. What he did was wrong.

Joe’s Perspective: I tend to think it is a little bit of both. Football (like most sports) requires passion, and I want to see that passion on the field. I want to see a player who desperately wants to compete and win. And, sometimes during the heat of battle, players cross the line or certainly blur that line. And, if the coach does have a healthy relationship with a player, it should just be looked at in the entirety of that relationship. However, players should never touch, bump, grab or push their coaches in anger. Composure and focus are also important components of sports, and in this moment, Travis did fail. He crossed that line, and he did so with the world watching. This does set a poor precedent for young athletes who watched this happen. His behavior normalizes this behavior and it gives other athletes permission to do the same. I would like to hear Travis acknowledge this and apologize in a public setting. c

Your Turn: What are your thoughts on this situation?

How To Close A Deal That Has Stalled

Administrator — Tue, 20 Aug 2024 12:45:42 +0000

What do you do when your sales process has hit a wall? Your efforts to close a deal that has stalled are important. Thoughtful actions can move the deal forward and over any roadblocks.

Inevitably, sellers will face this situation in their careers, writes HubSpot’s Ben Kassif. It’s vital they know the best way to handle it.

“Some deals hit walls — that‘s just an unfortunate fact of sales life,” he explains.

And the key is to understand why. As SalesFuel points out, being stalled isn’t just a stage.

“It’s a situation that needs to be addressed or else the deal may get too far out of reach.”

According to Kassif, sellers must first analyze their approach. Often, stalled deals result from sellers not addressing the right issues. They may be focusing on a less serious pain point. Or they don’t fully understand the entirety of the problem.

“Misaligned problem-solving often stalls deals — and not getting to the why behind a prospect’s problems is often where misalignment starts.”

Kassif adds that reps will never close a deal if they don’t have a thorough understanding of a prospect’s business. And they need to understand the details of the challenges they face and their goals.

Take a look at these tips for identifying pain points. They will guide you to uncovering the issues your prospect faces and the root of them.

But don’t stop there. The deal will stay stalled if you can’t demonstrate why your solution is the best choice. It’s simply not enough to tell prospects what’s hurting their business. They must understand how your solution can uniquely help.

If you can’t, “you’re going to have a hard time getting a deal over the finish line,” Kassif explains.

Make sure you share tangible benefits to choosing your solution. And follow these best practices to ensure you do.

Close a deal by connecting with all stakeholders

A lack of connection with all involved is another cause of stalled deals. It’s easy to get caught up with a single prospect. But rarely are they the only decision-maker.

LinkedIn recommends identifying and mapping the decision-making unit (DMU).

The DMU is “the group of people who influence or make the final purchase decision.”

LinkedIn explains that you must understand each individual’s:

Roles

Motivations

Preferences

Objections

Then, ensure you’re not overlooking any of those in your current approach. Sellers must keep in mind that buying groups continue to be a factor in sales. Multi-threading is a must.

Tom Erb, writing for Tallann Resources, suggests working with your prospect to engage and build rapport.

“Discuss how you and the prospect can work together to get them the information they need to make the decision.”

Use your relationship to expand your partnerships to ensure all stakeholders are involved. You won’t be able to close a deal if other decision-makers are left out.

Be honest

While not the most pleasant option, honesty may be necessary. Kassif recommends resorting to blunt honesty, especially if the contact has gone quiet.

“Call out the fact that you feel that this deal is no longer a priority,” he suggests.

You can do this politely without coming across as accusatory. Coming from a place of curiosity can prevent prospects from feeling defensive. Reinforce yourself as someone who genuinely wants to help. Explain you’d like to continue the process but have concerns they don’t.

And hopefully, you’ve established a strong relationship, based on trust and credibility. This will make this conversation easier for you and the prospect.

“Lean on that, and let them know you’re sensing a dip in interest,” Kassif adds.

And if you’re anxious about the topic, here’s some advice for navigating tough conversations.

When faced with a deal that has stalled, implement these suggestions to get it moving. And for more tips, check out these from SalesFuel.

Photo by Berkeley Communications on Unsplash

Appreciating Greatness – Catlin Clark

Administrator — Tue, 20 Aug 2024 12:40:17 +0000

Caitlin Clark is a phenomenon. She is a senior at the University of Iowa. This year she has broken too many records to list here. However, the big one is that she became the leading scorer in men’s and women’s college basketball history. She currently has 3,685 points. In her career, she has averaged 32.8 points per game. She also has more assists than anyone else this year, which tells you a lot about her game. She also has more three pointers this year than any other player. In short, she has a lot of great components to her game.

Joe’s Perspective: Before Magic Johnson and Larry Bird entered the NBA (1979), playoff games were aired on tape delay. The NBA was not that big of a deal. However, Magic and Larry brought excitement and pizzaz to the game. Game attendance and TV coverage soon followed. I believe Caitlin has done the same for women’s college basketball and soon, she will dramatically impact the WNBA. Caitlin is probably the second most known female in America (after Taylor Swift). She has brought women’s basketball into the mainstream. People who have never watched the women’s game are tuning in to see the show. Wherever she plays, the arenas are sold out, including the Big 10 tournament this weekend. The TV ratings for her games are off the charts. Caitlin has shifted the culture.

Before Tiger Woods joined the PGA Tour, the purses of each tournament were a fraction of what they are today. After he joined the tour, he made golf cool. The crowds at tournaments grew exponentially and TV revenue exploded. I predict Caitlin will do the same for the WNBA. Right now, the salaries are relatively low ($147,000) for WNBA players, especially compared to the average salary of an NBA player ($9.7 million). The discrepancy has everything to do with ticket sales, TV contracts and merchandise. I predict that “the Caitlin effect” will begin to close that gap in the upcoming years. Every female athlete will benefit from her stardom.

For now, we should all just appreciate her greatness. She will be playing in the NCAA tournament in the coming weeks. I don’t think her team will win it all, but it will be fun to watch Caitlin and Iowa try to win a national championship.

Your Turn: What are your thoughts about Caitlin Clark and her success this year?

Automation Group Launches LLM Tool

Administrator — Tue, 20 Aug 2024 12:37:40 +0000

The International Society of Automation sees Mimo as a way to expand membership and grow globally.

The International Society of Automation has created an AI-driven large language model (LLM) that’s designed to provide support for current members, attract new ones, and strengthen its international connections.

The LLM, named Mimo, was formally announced on July 11 but has been available since late June, said Jason Wampler, CAE, ISA Managing Director of IT. (The name Mimo is a reference to the engineering term “multiple input, multiple output.”) Mimo is trained on material from Pub Hub, ISA’s repository of proprietary information—white papers, articles, webinars, and more—to answer user questions relevant to the field.

ISA leadership began discussions about creating Mimo late last year. “We already had a knowledge base—our file-protected document-rights platform that shares our white papers, our standards, our articles, and so forth,” Wampler said. “We were asked [by the ISA board] to try to find better ways to surface that.”

Non-members receive only a limited number of answers from Mimo and shorter answers than what members receive.

One way Mimo helps with that effort is its ability to quickly translate materials, which helps with ISA’s goals of expanding its international reach. “Mimo can do basic research and help users compare one standard to another, and being able to do that if you ask it in Spanish as well is a game-changer,” Wampler said. “Now we have a constituency that knows we have the standards and content they’re looking for, even if English is not their first language.”

Mimo operates under a freemium model, in which non-members receive only a limited number of answers, and shorter answers than what members receive. In part that’s to help ensure that proprietary content isn’t used to feed large public-facing AI tools such as ChatGPT. (ISA bars users from repurposing its content in that way, and partnered with the tech company Betty Bot on the overall design and security elements of the LLM.) And it’s also designed to encourage those most engaged in automation-industry technology to become members. “Our CEO, Claire Fallon, has been very strong on making sure our IP doesn’t walk out the door,” Wampler said. “And we want to make sure that members get the best experience possible. When a non-member hits the site, we want to try to entice them to become a member.”

It’s too early for ISA to say if that strategy is successful. But Wampler said that usage of Mimo to access Pub Hub content was competitive with non-LLM searches on its content in June, when the tool hadn’t even been formally announced.

Beyond international outreach and potential membership growth, Wampler said he’s hopeful that Mimo can help ISA conduct gap analysis around its content, using data on the questions people ask it to help develop more content responding to those questions.

“What Mimo does for is us, is it provides us with a faster on-ramp for newer content,” he said. “If we don’t have a lot of material on a particular topic, a committee can start working on a white paper or come up with an education session at our next conference. I see that as a value-add to what LLMs can do.”

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Auburn Player Gets Ejected, Which Contributes to 1st Round Loss in NCAA Tournament

Administrator — Tue, 20 Aug 2024 12:34:51 +0000

In the first round of the NCAA Men’s Basketball Tournament, Chad Baker-Mazara, an Auburn player, deliberately elbowed a player from Yale. Chad lost his cool. For his actions, the official assessed a Flagrant 2 Technical Foul and ejected Chad from the game. Auburn, the heavy favorite, lost that game to Yale. Here is the play.

Now, the part that caught my eye, was a subsequent interview with a coach from a team that was not playing. A reporter asked the head coach of Alabama what he and his players could learn from this incident. In essence, Coach Oats said, “We’re trying to win on the scoreboard. We are not trying to win a backyard brawl or a trash-talking contest. Anything that gives the opposing team an advantage, we don’t want it.” This is a great message for his team and it is a great message for you. So, take a minute to listen to the words of wisdom from Coach Oats below:

Advance Reading for #ASAE24

Administrator — Tue, 20 Aug 2024 12:31:52 +0000

The 2024 ASAE Annual Meeting and Expo is fast approaching. Here are some key articles to read before the event.

Whether you’re heading to Cleveland for this year’s Annual Meeting & Expo, or keeping up with the goings-on remotely, Associations Now has plenty of content to help you get up to speed on the meeting’s presenters and key themes. Here’s a sampling of some of the sessions and relevant articles.

Attend: “Chaos in the Boardroom: Interpreting Divisive Issues,” 4 p.m. Sunday, August 11. Speakers: Chris McEntee, MHA, FASAE, Principal, CWMcEnteeLLC; Paul Pomerantz, FACHE, CEO of American Society of Anesthesiologists; Mark Engle, DM, FASAE, CAE, principal of Association Management Center.

Read: “A Faster Path to Better Boards,” by Mark Athitakis, associationsnow.com, April 12, 2024. In this article, Engle discusses some of the essentials of board orientation, especially in terms of maintaining strategic focus. “What’s the centerpiece that you alone as a board member are responsible for?” Engle said. “We need to be careful, or various things can really undo what a board is trying to achieve. That means having a mindset of asking what we’re doing with strategy, what you’re doing with structure, and what you’re doing with culture. That helps shape where the conversation goes.”

Attend: “The Board’s Duty of Foresight in the Age of Polycrisis,” 10:45 a.m. Monday, August 12. Speaker: Jeff De Cagna, AIMP, FSRA, FASAE, Executive Advisor, Foresight First LLC.

Read: “Choosing the Future,” by Jeff De Cagna, Associations Now Board Brief, January 2024. In this article, De Cagna challenged boards to prioritize future focus. “The board’s duty of foresight will endure as a vital choice for association boards committed to setting a higher standard of stewardship, governing, and foresight,” he wrote. “For boards ready to become fit-for-purpose, the duty of foresight is an ethical, honorable, and purposeful decision to stand up for their successors’ futures.”

Attend: “Build Your Association’s Culture Inside and Out,” 4:30 p.m., Monday, August 12. Speakers: Genevieve Borello, MPA, CAE, Director, Membership, Marketing, and Diversity, American Bar Association, Section of Taxation; Christopher M. Williams, CAE, Executive Director, Voluntary Protection Programs Participants’ Association; Jamie Notter, co-founder, Propel Culture Consulting

Read: “Three Steps for Becoming AI Ready,” by Mark Athitakis, associationsnow.com, April 9, 2024. In this article, Notter shared insights on how organizations can position themselves well culturally to handle challenges around AI and beyond. “One place where associations have a leg up on others is the idea of co-creation,” he said. If you want to be agile, you’ve got to be good at creating something with someone, and that is completely in an association’s DNA. You’re co-creating with volunteers. So bring in users to show them what you have, get feedback, and incorporate it on a regular basis.”

Attend: “Critical Considerations for Meeting Safety,” 9 a.m. Tuesday, August 14. Speakers: Gary A. LaBranche, FASAE, CAE, CEO of RIMS; Stuart Ruff-Lyon, CMP, RIMS chief events and sales officer; Teresa Anderson, VP, Content, ASIS International.

Read: “How One Association Handled an Active Shooter Incident in Conference City,” by Mark Athitakis, associationsnow.com, May 23, 2023. In 2023, RIMS’ annual conference was disrupted by an active shooter in the downtown Atlanta area. At #ASAE24, LaBranche and Ruff-Lyon will discuss their actions since then; RIMS, along with ASIS International, collaborated with ASAE on a survey and toolkit around risk and crisis management. “No organization that ever goes through one of these situations will say that they did everything perfectly,” LaBranche said at the time. “We certainly didn’t. We’ve learned a lot, and the fundamental, big learning is that if you have a citywide convention, you have to have a citywide crisis management and communication plan.”

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Weighing the Benefits and Negatives of NIL

Administrator — Tue, 20 Aug 2024 12:29:05 +0000

Nick Saban is regarded as the best college football coach of all time. He had an amazing career, winning 7 national championships. This career came to an end a few months ago when he retired. He recently testified in front of the US Congress on the impacts of NIL (athletes being able to be paid for their name, image and likeness) at the collegiate level. The summary of Coach Saban’s testimony is that he retired from coaching because of NIL. He believes that NIL directly clashes with his intention to develop players over their collegiate career. He testified that incoming recruits and their parents are “only” interested in the money or package that the university can provide. Coach Saban no longer wanted to be a part of a system that prioritized the wrong things, so he retired.

Joe’s Perspective: The advantage of NIL is that players can receive a piece of the huge revenues that college athletics creates. In many ways this seems fair. However, at this point, it’s open season. There are basically no limitations. Does this hurt the competitive landscape of college sports? Does NIL interfere with the development of college athletes? Do the schools with huge financial resources get richer and the schools with less resources get poorer? Does NIL create inequities/jealousy on the team between a player who receives a million dollars and a player who receives nothing?

Your Turn: These are all great questions, all of which are above my pay grade. I’ll be interested to see how NIL progresses and is refined. I am also interested in how you, the younger generation thinks of this new NIL revolution. What do you think?

The post Weighing the Benefits and Negatives of NIL appeared first on Character and Leadership.

Choose Your Friends Carefully

Administrator — Tue, 20 Aug 2024 12:25:55 +0000

I always remember my mother telling me to choose my friends wisely. If you befriend the wrong person who does the wrong thing at the wrong time, and you are with them, you too might get into trouble, even if it isn’t your fault. That’s life. Many a person is in prison because of just such a situation. It was always an important lesson to remember.

The lesson below is similar. It says that you need to pick your friends wisely, but for a different reason. He says that, “you are the average of the five people you spend the most amount of time with.” So, if you want to be goal-oriented and successful, hang out with people who are goal-oriented and successful. If you find yourself hanging out with a bunch of knuckleheads or class clowns or trouble-makers, you might eventually fall into those categories. Furthermore, he says that there are four types of friends:

Addition: people that will add to your life and make your life better.Subtraction: when you are with these people, you are not the best version of you.Multiplication: They make you the best version of yourself.Division: People who are always dividing and making things hard.

In conclusion, you need to pick your friends wisely. How do you do that? You select the people in your life who bring out the best version of yourself and get rid of the people who bring drama and trouble to your life. If someone makes you feel bad about yourself, they are probably not the best person for you. If someone is distracting you from the life that you want for yourself, they are probably not good for you. Begin paying attention to this and choose the friends that bring out the best version of you. End of lesson.