Once a week, BizEngine will deliver a roundup of small business news and advice from around the nation.
Seizing The Right Opportunity
Today, you can’t go to a Green Bay Packers game without seeing the cheeseheads. They’re giant foam cheese wedges that many fans wear on their heads, and to casual followers of football, that might be the strongest association with the Packers they have.
The story of how those cheeseheads became popular is an interesting one, recounted in Business News Daily recently. It sprang out of the early 1990′s and, of course, the term “cheesehead,” a derisive term used by Chicago Bears fans to describe their northern neighbors. The idea just hit him one day, said Ralph Bruno:
“The people from Illinois always called us a bunch of ‘cheeseheads’ up in Wisconsin. When it first popped into my head, I was with a bunch of friends and we were about to go to a baseball game against the Chicago White Sox. I was in the process of reupholstering my mom’s couch. I used an extra piece of foam and fabricated it into the shape of a wedge to make it look like a block of cheese.”
The wild success of those foam cheeseheads is a reminder that the best ideas generally spring out of something seemingly unremarkable, and about how you can turn negative into positive with the right marketing approach. It’s a reminder, in short, of the resilience of small businesses.
Give the article a read.
Calculating The Value Of Customers
You might think you can’t possibly calculate the value of your customers. Inc. suggests that not only are you the wrongest wrong ever to wrong, but that you’re also missing an opportunity to better target your efforts.
Whether you’re figuring out revenue down to the customer or just across segments, figuring out who your best customers are and what they’re buying can help you better market and promote your products, to say nothing of readying your stock for the busiest time of the year. Your worst customers may be the ones you hear from most frequently, but this kind of data-driven analysis can help you much more than placating someone who only buys once a year, anyways.
If you don’t have a marketing analytics-focused employee, consider getting one. You can make a lot of headway by parsing the stats.
Making Employees Feel Important
The more an employee feels they’re a member of the team and doing valuable work, the better they do. We took a look at this phenomenon late last week.