Marketing Headhunter

What's your Marketing IQ?

According to this “Marketing IQ test" given to a national sample of more than 1000 CEOs, the average Marketing IQ of Chief Executives is just 79 – with 100 being average and 160 being the highest score possible.

Action item:  Just for fun, take this test, and give it to others in your department.  (If you don't know an answer, you’re better off choosing “I don't know” rather than guessing.)  Talk about the results at your next brown-bag lunch staff meeting.  How do these questions make you feel about the assumptions built into your current marketing plan? Do your staff allocations make sense based on their apparent competencies?  What do your results say about where you need training?

Hiring Managers:  Can you give this test to candidates?  Bear in mind that this test is not industry specific, so I wouldn't place too much importance on the results -- but it should give you an idea of how well-formed the candidate's "conventional" marketing knowledge is.  Plus, you can print the candidate's results along with Copernicus' explanation of the "correct" answers to use as a discussion guide for your interview.

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Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.

Reader Mail: "What's a Good Marketing MBA Dissertation Topic?"

Dear Harry,

I find your website helpful and would like to ask you a question.  Currently I am an MBA student in the dissertation phase of my study.  My field of expertise is marketing and I have not yet chosen a topic for my research.

What topics are of concern for marketing consultants at this time?  I would like my research efforts to be applied in an area that is a concern for employers and would prove helpful in finding employment.

Many thanks,
Mary
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Hi Mary,

Thanks for writing.  Unless you land a job with a consulting firm like McKinsey, BCG, or Bain, it is doubtful that your dissertation will help you get a job.  Just my opinion.  I would instead research an area that will make you a significantly better marketer, and let the chips fall where they may.

Given it to do all over again, I'd spend my time studying the methods of the copywriting masters.  I don't care what your marketing medium (space ads, print catalogs, brochures, websites, emails, call centers, in-store retail, Direct TV, you name it), nothing will make you a better marketer than learning how to write great copy.  Nothing.  Specifically, these nine resources will change your life:

1. Scientific Advertising by Claude Hopkins
2. The Robert Collier Letter Book by Robert Collier
3. Tested Advertising Methods by John Caples
4. How To Write A Good Advertisement by Vic Schwab
5. The Lazy Man's Way to Riches by Joe Karbo
6. Advertising Secrets of the Written Word by Joe Sugarman
7. Break-Through Advertising by Eugene M. Schwartz
8. Seven Steps To Freedom by Ben Suarez
9. The stunningly great April 1, 1987 newsletter by Gary Halbert

I'd read the Halbert newsletter first.  It's free, and it has been widely hailed by real marketing gurus (such as Dan Kennedy, Ted Nicholas, John Carlton, and Jay Abraham) as the definitive resource on how to write great copy --- and how to gain that expertise in just 30 days.

To apply any of these works (especially # 1 or # 6) to a dissertation, I would buy Robert Cialdini's classic book Influence: The Psychology of Persuasion and explore the impact of one of Dr. Cialdini's methods of persuasion (such as "scarcity" or "social proof") on what it takes to write money-making copy.  Not only will this get you some excellent exposure to Dr. Cialdini's seminal work -- but it will give you an opportunity to test one of his methods against major copywriting dilemmas, such as Web 2.0's impact on the salesletter.

Don't forget that you can learn killer copywriting skills through an online MBA program.

Let me know if this helps.
Harry

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Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.

My Best Week Ever: DMA 2005

DMA-05, the "world series" of direct and multichannel marketing trade shows, took place this week, and it was awesome.  Seth Godin, Debbie Weil, and many other famous writers were on hand to speak and cover the event.  Aside from meeting a ton of clients and candidates, I had an opportunity to connect with Alan Rimm-Kaufman, President of the Rimm-Kaufman Group.  Great guy.  Brilliant work.  Alan, Larry Becker, and the rest of RTG offer outstanding thought leadership in the areas of web design, usability, and SEO.  See for yourself.

My biggest regret of the show?  I was ten feet away from Debbie Weil when she was lunching with a friend and I didn't introduce myself.  Rats!  What was I thinking?!

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Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.

What to Seek in a New Marketing Job

Sherpa:  What are the key concerns marketers have when considering a job offer?  Is it stability?  Money?

Harry:   Those things matter, but nothing matters more than the opportunity itself.   The most business-oriented marketers want to be able to contribute something lasting and meaningful to their company and its customers.   And it's really important for recruiters to know how this can be accomplished.

I spend just as much time cultivating relationships with talented marketers as I do courting great clients.  I'm not sure every recruiter appreciates this, but their candidates are an extension of their value proposition.  Bad marriages create more ill-will for recruiters than just about anything.  And good marriages can generate a lifetime of referral-rich business.

The only way recruiters are going to survive in a Google world is to work with candidates who are so unbelievably great that our fees are lost in the rounding of the tangible value that these candidates create for our clients.

Having said that, these "rock star" marketers understand that truly effective CEOs manage an organization as nature would:  With neither malice nor pity.  In these performance-based cultures, the only job stability comes from happy customers.

So the $64 question when considering an offer is this:  "Will this position allow me to touch customers in a way that is relevant, measurable, and controllable (by me)?"

If the answer is YES -- then the candidate should ask herself "Would I want my child to work for this hiring manager?"  That question will help the candidate objectively assess the leadership style of the hiring manager and envision what life will be like in the new job.

Beyond that, marketers may ask:  Is the company's culture growth oriented?  Does the job allow me to leverage my strengths?  Will the job challenge me to grow over time?  Find out what the average marketer's career-span is for the company and project ahead.  I had a top candidate tell me one time that he wanted to leave his company of six years because he wasn't sure if he had gotten six years experience once – or three year’s experience twice.  He likened his job to the Bill Murray movie "Groundhog Day."  Can you imagine?

More Q&A later.  For previously posted portions of my interview with MarketingSherpa, please click here.

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Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.

Compensating Sales Jobs

As an executive recruiter, I'm often asked by clients:  "What's the right salary / incentive mix for our sales jobs?"  Good question.  If the salary is too low relative to the total pay package (base + bonus), then your sales reps might focus too much on short-term opportunities.  If the salary is too high, then your sales reps might underachieve in their sales jobs.  Each compensation scenario can become a minefield of unintended consequences.

So, what's the answer?  Sales compensation experts Jerry Colletti and Mary Fiss, authors of Compensating New Sales Roles, have allowed me to reprint their classic article "Determining the Right Salary / Incentive Ratio for Your Sales Jobs," which ran last year in the print edition of Proven Ways to Get New Customers -- before it became a weblog.

This amazing 8-page Adobe file contains three sections:

1. Defining the term "salary / incentive mix" for sales jobs
2. Tools to arrive at the right mix for different sales jobs
3. FAQ about what mix is best for your unique sales jobs

The article even goes so far as to analyze what personality types fit best given the nature and compensation of different sales jobs.  In my opinion, it's a good as anything you'll read in the Harvard Business Review.

Click here to download Compensating Sales Jobs.

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Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.

Yahoo puts news & blogs side by side

A while back, a friend sent me a great link from the Museum of Media History about the future of the media through 2014.  If you haven't seen it, fasten your seat belt and click here.  One of the predictions in the video is that at some point, blogs will rival newspapers in terms of both credibility and reach.

Well, today Yahoo announced that effective immediately it will begin testing the placement of news content side by side with blogs.  Also effective immediately:  I am strongly advising my kids against pursuing a career in journalism.

And to think that we are still only in the second inning of this internet thing!  I can't believe how fast stuff changes these days.  As a headhunter, I have never seen a more pressing need for candidates to self-educate, build their networks, take risks, and reinvent themselves.  If you aren't reading at least four meaty business books a year -- you're asking for it.

How to Start an Electronic Newsletter

Lately, I have been contacted by a number of catalogers and online retailers who seem hell-bent on acquiring new customers.  If that sounds reasonable, bear in mind that there is a "herd mentality" in the DMA and Shop.org space.  Just a few months ago it seemed that most employers wanted to hire merchandising talent; candidates whose expertise is mostly in cross-selling and up-selling customers.  Way back then, increasing "wallet-share" was all the rage.

Currently, one of the most-requested areas of expertise is e-newsletters with RSS capability.  Since I've spent my autumn days interviewing people about their ezine expertise, I thought I'd jot down some notes for you.

Starting an Ezine:  What's in it for you?

Done right, ezines are an incredibly powerful marketing tool -- even more powerful than blogs in situations where the company's house file is huge and it makes more sense to "push" the content out to the reader.

Like offline newsletters, ezines can inform, motivate, and educate, but that’s where the similarity ends.  Ezine distribution is lightning fast, and you can even attach files or imbed videos with sound.   And despite their extremely low maintenance cost, the benefits of an ezine often include improved customer service, increased customer loyalty, and a stronger sense of “community” among your customers.

Ezines can have different objectives depending on your goals.  These objectives might include:

• New product, service, or company announcements
• Establishing your name and reputation
• Keeping in touch with customers
• Selling advertising
• Selling your product or service
• Collecting e-mail names to rent or sell, and ...
• Drive targeted traffic to specific pages in your site

Here are the five primary steps (A thru E) involved in creating an effective ezine:

A.) Decide on the Name: The name of your newsletter should be aligned with the content of your newsletter.  A good rule of thumb is:  Crappy name, low circulation.
B.) Decide on the Content:  The content of your newsletter must align with your objectives and readership.  Content ideas for an ezine usually include:

• Readers' answers to other readers' questions
• How-To tips, hints, and articles
• Readers' testimonials, opinions, and feedback
• Product reviews (including books, tools, websites, etc.)
• Guest experts corner (for guest articles)
• Contests
• Customer stories or case studies
• Expert interviews (by you)

There are four factors that make for an interesting ezine:

1. Interactivity – Conducting surveys, asking for answers to questions, and gathering opinions on things like products, websites, and issues are effective strategies for getting people to interact with your ezine.
2. Personality – People are attracted to interesting personalities, such as Oprah Winfrey, Martha Stewart, and Colonel Sanders.  Injecting your own personality into your ezine will not only make it more interesting for the reader, but a unique personality can be a lethal competitive weapon for a small specialty distributor.  Don’t be afraid to inject your opinions and personal experiences to spice things up for your reader.
3. Utility – Include content that your readers can use to improve their personal lives, jobs, businesses, customer relationships, etc.
4. Attractiveness – Ezines that are attractive and easy to read get read.  Period.

C.) Decide on Your Frequency:  It makes a big difference how often you send your newsletter.  Daily newsletters (and blogs) require a significant commitment unless they're short.  Daily ezines usually consist of brief tips, quotes, or news updates.  Weekly distribution probably makes more sense.  Timing is everything.  For example, if you can manage it, send your newsletter to customers the day before an order ships.  This facilitates “impulse” purchases and increases the customer’s perception of your company’s customer service.

D.) Decide on Your Format:  Essentially, there are two formats from which to choose: plain text or html.  An HTML newsletter is graphical and looks much like a webpage.  A text newsletter is simply a message sent with words and no graphics.  HTML probably makes more sense for most catalogers  because product offers with colors and graphics typically out pull those that don't graphics.  HTML newsletter template software is inexpensive.

E.) Develop a Strategy for Capturing E-mail Addresses:  Rent lists, use both online and offline strategies to capture email addresses.  Online strategies range from putting an opt-in box on every page of your website to using an exit pop-up (always a bad idea because people hate them).  Offline email collection strategies typically involve enticing your customer to volunteer his e-mail address in exchange for something of value such as coupon.  Or you might hold a contest for which the winner will be announced by e-mail, which would require customers to give you their e-mail address.  Get crazy.

Regardless of how your email addresses are captured, there’s no question that ezines can be a highly effective way to grow a business.  They're inexpensive to manage, and they are a wonderful way to develop and maintain a meaningful dialog with your customers.

Postscript:  Shortly after I posted this, Chief Marketer ran an excellent interview with ezine expert Todd Smart about the ins-and-outs of ezine publication.  Click here to download.

  ____________________________________________

Q:  Need the number of a recruiter who "gets it?"
A:  Download Harry's contact info for future reference.