business

Jan 16, 2012

The trail of clown-faced shopping bags

As a young boy and a new comer to Canada living south of Mirvish Village, I remember following the trail of shoppers coming down Markham Street with their clown faced shopping bags, and was lead to the ultimate Toronto shopping experience – Honest Ed’s. Honest Ed’s featured value priced products and merchandize in a kitschy and nostalgic circus theme with a huge sign encompassing an entire city block made up of about 23,000 light bulbs and catchy slogans such as, “Come in and get lost!” and “Only the floors are crooked!” The inside of the store reminds us of a time before the giant big-box stores moved in, with its vintage bargain-basement type feel. The retailer gained fame for its marketing stunts, including loss leader specials, free turkey giveaways before holidays and extravagant yearly street parties for founder, Ed Mirvish’s, birthday.

After 63 years, Honest Ed’s is more than a store; it’s a well established and successful brand. Its architecture brings together vision, voice and benefits that together provide the inspiration and personality of a lasting brand. That is why, year’s later, Honest Ed’s remains memorable, instantly recognizable and has an emotional community-based appeal and relevance.

Successful brands are unique and beyond compare; they are instantly recognizable and build an emotional connection with their customers. A great brand should be distinct, exude personality and resonate loudly with a lucrative set of customers. Simply put, brand is the personification of your product or service, enabling customers to engage and build a relationship with it.

Are your customers still following a trail back to you decades later? If not, make 2012 your first step in building a lasting brand experience to delight your customers.

By John Paulo cardoso Blog, branding, business, business strategy, marketing, Spyder Works, strategy, The 90% Rule No comments Tags: 90 percent rule, 90% Rule, brand recognition, branding, spyder works

Jan 5, 2012

Examples that show innovation can be easy

Originally published as a Special to Globe and Mail Update, January 4, 2012

Innovation Entrepreneur 90% Rule Spyderworks

Image from a Shreddies campaign in 2008

When I ask business owners and managers about innovation, many of them talk about ideas they have percolating but they have never pursued.

They’re too busy fighting front-burner issues to think about anything new. But if innovation is going to be a source of new products and revenues, I have three words for you, from one of the world’s most innovative companies: Just Do It.

t’s as simple as that. Innovation is about bringing ideas to market rather than letting them languish on a half-forgotten scratchpad. And innovation doesn’t necessarily mean invention. More often, it’s about acting on an opportunity you have already recognized, or adapting existing solutions for other markets or industries.

How simple can innovation be? Consider these examples:

Seeing the same thing in a different way

Think of the publicity coup for Post’s Shreddies – and its 18-point gain in market share – when it reintroduced the timeless breakfast cereal in diamond shapes rather than squares.

Exploring new markets with the same products (or slightly adapted features)

Toy giant Lego has launched a Lego Friends brand to target girls in addition to its dominating “boy brands” such as Star Wars Lego and Lego Ninjago.

Tapping into (or teaming up with) new market trends

Hyundai now provides a multimedia tablet as an owner’s manual instead of the traditional printed book.

Bringing together features from existing products or markets to create something “new”

The maker of SLAP Watch offers a unique twist on silicone watches with interchangeable faces, bright colours, and spring-coil bracelet – all in one item.

Innovation is the engine that drives your business forward. Think about it: customers are engaged by new and exciting products and services. It gives them something to talk about, a reason to buy again, and more often.

You wouldn’t change the oil in your car just once a year – the engine would sputter and die. Your company shouldn’t leave ideation, innovation or the introduction of new – even small – improvements to an annual schedule. Without the tune-up of continuing innovation, your business will also sputter and die.

You should make 2012 the year that innovation becomes a continuous, front-burner activity, just like sales and marketing.

How do you take the first step in your business? Set aside a 15-minute slot in your weekly sales and marketing meeting. Ask everyone at the table to talk about one interesting innovation they have seen in your industry, or better yet, an industry far from your own. Discuss which examples are most applicable to your business, then charge a person or team to flesh those ideas out. Monitor their progress monthly in the same team meetings. Success breeds success, and feedback and inclusivity are its lifeblood.

Winning through innovation doesn’t have to be scary, painful or expensive. Business owners and managers can do it step by step. Start by creating an environment in which employees, trusted partners and even customers offer great new product and service ideas. The active ingredient in “win-novation” is simply creating a process to examine those ideas and pursue the best of them.

The cost is low, the potential sky-high. It’s better to implement a number of smaller innovations than to have big ideas and do nothing with them.

By Ken Tencer branding, business, business strategy, Entrepreneur, Entrepreneurial Thinking, entrepreneurship, Innovation, Spyder Works, strategy, The 90% Rule No comments

Nov 21, 2011

Innovation Insight: If I Wanted to Be a Lawyer, I Would’ve Gone to Law School

One of a series by Ken Tencer, Spyder Works CEO

Once every quarter, I receive a beautiful invitation from my company’s law firm to attend a seminar to learn some important new fact about changes in the law. I never go.

Once every quarter, I receive a beautiful invitation from my accounting firm to learn something new about sales, marketing or motivation. I almost never miss it.

I applaud both firms’ efforts to engage their clients, but in this world of information overload, it’s more important than ever to engage in meaningful conversation with your customers. Service providers add value by enhancing the customer’s skill-set, not by telling them how they’ve improved their own.

Innovation isn’t about what interests you; it’s about what fascinates your customers.

By Ken Tencer Blog, business, business strategy, Entrepreneur, Entrepreneurial Thinking, entrepreneurship, Innovation, strategy, The 90% Rule No comments Tags: business, business strategy, Entrepreneur, entrepreneurship, Innovation, Ken Tencer, strategy, The 90 percent rule, The 90% Rule