Tag: consistency

Industry Views

Pending Business: Coffee Talk

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

imHave you tried the $7 cup of coffee at Starbucks?

A recent visit to my neighborhood location was an eye-opener. The demographics were broader than a trip to Disneyland. The service was average, as the baristas gave a hearty Moe’s welcome shoutout, heads down cranking out the orders.

A recent study showed 63% of millennial coffee drinkers are good with that $7 price because the coffee experience made them feel good. I was wowed at the acceptance of the price point. If the average consumer goes to Starbucks 16 times a month, that is over $100 a month on coffee. No wonder there more than 16,000 locations in the U.S. We just can’t get enough!

Yes, I am a student of successful marketing no matter what the product or service is. Tide, Starbucks, iPhone – what is it about the product that drives the value proposition? Quality? My gym socks do just as well in the less expensive laundry detergent. Dependability? My iPhone needs rebooting more than I would like to admit. Consistency? Ever taste Pike Place when it is from the bottom of the canister? No product or service is flawless, yet we consistently pay more for some over others. Is it marketing, packaging, or genuine performance? A little of everything.

Let us connect to our sales world.

1) There is no shortage of Tide. Yet it is still the most expensive brand on most supermarket and big box store shelves. Consumers have paid a premium for nearly 80 years because we trust the product. And therein lies the lesson for talk radio sellers. The trust your audience has in your on-air hosts is hard-earned equity reinforced every day.

2) The sit-down experience and service in a Starbucks is unique. From Manhattan to Carmel, California, locally owned coffee shops try, and some may succeed but the overall sit-down experience and service at Starbucks is consistently high-quality, meeting our expectations no matter where you are and so price barriers come down. Lesson #2 for sellers. Is your buyer-seller exchange always at a consistent important level no matter how close your relationship with your advertiser? Even when business is down?

3) There is no way to Google that answer. Put yourself in the shoes of your advertiser, especially a first-time advertiser when the wrong copy runs, an invoice is incorrect, or another issue comes up. Is it quick and easy to resolve a discrepancy? Will you invest the time and patience to ease the process?

Our talk radio business rarely integrates intangibles when it comes to pricing. Competitive, efficiencies and demand traditionally drive pricing. Yet the talk radio personalities are the ones with all the intangibles. From political influencers and offering emergency weather information to life changing news storylines that need interpretation to become more acceptable. Yet through it all, we are still the $1 cup of coffee.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry Views

Pending Business: Still Learning

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

I think it was the great Michelangelo who said, “I’m still learning.” Three simple words that can make or break any of us in marketing.

I am still amazed at the success and customer loyalty at Trader Joe’s. Why is it that a homespun marketing approach develops loyalty, when I have found more competitive prices and sometimes higher quality foods elsewhere?

Yet there I was lost in the regular South Florida Sunday crowd, standing in line, basket-to-basket, ready to check out. I have never heard or seen an ad for Trader Joe’s, yet the store was packed. The scene at the 59th Street store in Manhattan was quite similar last year when I spent three months in the city, or the one in D.C. close to my daughter’s home, even the Trader Joe’s in Sandy Springs, Georgia near my other daughter’s home was slammed on a Sunday three years ago.

Too much information for a column on sales and marketing?  Believe it or not, I still can’t figure out how with no frequent buyer program, super discounts, or incentive marketing I became such a frequent shopper. I guess just like Michelangelo, I’m still learning.

Here is what I have learned from Trader Joe’s that connects the dots to our sales and marketing world.

— Keep it simple. Ever notice how the prices are clear, easy to read and seem to present a perceived value? How does your presentation packaging stand up? Does it take an IT expert to understand how to interpret your computer driven proposals?

— Everyone has something positive to say. I have never heard any of the folks at any of those locations say a negative word, even when parking was a game of musical cars. How about you? Are still blaming the boss for higher pricing or tighter credit?

— Variety is in the eye of the customer. Other stores with more square footage have greater variety. Sometimes you need it, most of the time you don’t. How many times have you thought to yourself, “There are just too many options in this pitch.”

— Got a complaint? We can fix that. Somebody please show us a local radio station training for excellent customer service. It just isn’t a long-term commitment. Maybe a perceived unnecessary expense in our business.

— Consistency. Like every successful enterprise that is public facing, consistency and dependability build trust and customer loyalty. How about us?

Sales and marketing are a dynamic process that is always adjusting to the competitive landscape and the needs of the customer. And that is why we should all follow Michelangelo’s lead and never stop learning.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.