Why you need to train your brand to be social

Brands are like people. They are conceived, born, maybe not all equally, and become the responsibility of the brand manager or the parent.

They learn, adapt, develop and mature. Most importantly, they interact with their external environment and develop relationships. Like people, they become social beings – they look for friends and people look to become friends with them. All easier said than done.

Brands appear on TV and in newspapers. They compete for space on supermarket and retail shelves. They adorn billboards and the back of buses. The point is, like the popular kids, they spread themselves around. But has this approach become too impersonal? Good friends want to socialise. And so do consumers.

Check out these stats:

• 91 percent say consumer reviews are the #1 aid to making buying decisions. (JC Williams Group)
• 87 percent trust a friend’s recommendation over a critic’s review. (Marketing Sherpa)
• Consumers are three times more likely to trust peer opinion, over advertising messages when making purchasing decisions. (Jupiter Research)
• One word-of-mouth conversation has the impact of 200 TV ads. (BuzzAgent)

Consumers want to do their socialising with brands online away from the glare and anonymity of media chatter. Spitting out one-way messages betweenFriends reruns won’t cut it in the digital space.

Sadly, too many brands don’t have the skills to hold online conversations. They’re awkward and ill at ease.

If brands are to venture online they’re expected to engage and take part in meaningful, two-way conversations. This means listening first and responding last.

According to Nielsen, nearly two million Kiwis have looked to their fellow internet users for opinions and information about products, services and brands, and almost half have published their own opinions specifically about products, services and brands.

Social media isn’t just about chat. It’s a channel that can also provide important brand insights.

Remember, people information is power:

• Market segmentation: generate better understanding by listening to who is talking about your brand and what they are saying. Divide the conversations up by demographic: age, gender, location and so on.
• Competitor analysis: learn what people are saying about your competitors. Use these insights to respond.
• Reputation management: understand what your market really thinks so you can refine your brand messages and create meaningful content, respond immediately to unhappy customers and reward the happy ones.
• Online research: learn about new trends in your industry.
• R&D: find gaps in the market and develop new ideas.
• Internal engagement: If your staff don’t love what they do, they won’t love the brand. Empower them to speak for the brand online and they’ll become your best brand ambassadors.

But whatever social media strategy is adopted, it doesn’t replace a brand strategy. And while successful branding has always been about storytelling, social media has given consumers the vehicle to become storytellers as well. They are telling stories in real time – and you'd better make sure you’re reading from the same page.

By Kaleb Mearns, October 27, 2011 @ 9:59 pm Idealog

We did it!

After 24 long year wait and a nail biting 80 minutes, the cup is ours! On Sunday night the nation watched on the edge, of the edge of their seats the most nerve wracking game of the tournament (quite possibly that we have ever watched).

The match started with a scintillating haka that was challenged by the French team with a hand- holding walk-up type arrangement (not that scary really).

Fifteen minutes in Woodcock scored with a well executed line-out move which I imagine had the nation in pubs, lounges and the Cloud on their feet....Weepu missed the conversion.

The crowd got quieter and quieter as Weepu missed a penalty and Aaron Cruden wass hauled off and on comes Stephen Donald, ahem...our fourth choice first five eight. A comedy tank top jersey eased the tension of the spectators and the poor fella tugged and pulled on what we later find out to be last years size. FYI -Donald was plucked from the throws of a whitebaiting trip with the boys in Hamilton to come and play, not an intensive training regime of an All Black camp.

Just inside the second half the French are caught with their hands in a ruck and Donald nails a penalty....phew.

In the second half the French score and convert a try and put New Zealand into cardiac arrest and begin what was to become a very uncomfortable nauseous last 25 minutes.

The last 15 minutes were excruciating to watch and an overwhelming sense of relief showed on the faces of the team as the final whistle blew leaving the final score at 8-7 to NZ.

So exciting and NZ will been bask in the glory of this win for 4 years. The All Blacks played their heart out and were backed by 4 million kiwis who loved every minute of it.

The aftermath begins.....

Holy, Bloomin', Fun Rugby Watching!!

Izzy Dagg having a good time at last nights game - Greg Bowker

That little smile on Ritchie McCaw's face at the end said it all didn't it, we did it, we caned the Aussies and finally made the final!

Here is a report from the NZ Herald:

Graham Henry's men strangled the Wallabies last night at Eden Park to continue their quest to emulate their 1987 predecessors in the global record book.

In five subsequent tournaments the All Blacks reached one more final, the firecracker extra-time conclusion in 1995, but got no more silverware.

This time they and the nation will feel destiny is ready to repeat when they return to Eden Park for the seventh Webb Ellis Cup decider.

The 20-6 victory laid another layer over the memories of the All Blacks' last campaign failure as Henry's men dealt to their transtasman rivals.

It also cemented the fortress feeling Eden Park gives to the All Blacks, who last fell at the ground in 1994, to France, and to the Wallabies in 1986.

The All Blacks made a magnificent start. Quade Cooper helped them by kicking out on the full and from the subsequent scrum, the All Blacks smashed into their attacking game.

It was a mix of stealth and power as Dagg scythed through, beat several tackles and, as he hovered near the touchline, offloaded to the trailing Nonu for the try.

Fullback Israel Dagg and Ma'a Nonu were the rapier and the sledgehammer, forcing holes in the Wallaby defence while the pack hunted like Navy Seals.

Brad Thorn then stole a lineout and his teammates forced a penalty but Piri Weepu left his early kicking radar in the shed.

There was little respite for the Wallabies until Digby Ioane scorched upfield in a withering run to the line. He was stopped, but there was some illegal activity and James O'Connor knocked over the handy goal.

Round all the maelstrom, Aaron Cruden was calm and forthright in the biggest outing of his limited test career. He took the ball to the line, he slipped passes and kicked strongly and then, to fill out the CV, snapped a 38m dropped goal.

The Wallabies used the up and under frequently but Cory Jane, especially, could not be faulted in the air.

He defused each aerial assault while maintaining his crackerjack sorties and broken-field enterprise.

The Wallabies got into the All Blacks' 22 only a few times in the half but made little headway. That inability was underlined on the last foray when Cooper nudged over a dropped goal.

It was a neat effort but signalled the strength of the All Blacks' defensive line and the lack of phase play invention left for the Wallabies.

Cooper was sketchy, trying a variety of ploys but finding inroads awkward and life testing as the All Blacks searched for him in the backfield under the high ball.

Referee Craig Joubert controlled the game with his usual quiet authority.

He also pinged Wallaby breakdown expert David Pocock early for incorrect entry or playing the ball off his feet. It was another glitch for the Wallabies, who scarcely looked in the test by halftime yet trailed ony 14-6.

That margin was stretched with another Weepu penalty soon after the interval but the Wallabies were not done. They had a strong period looking for width, then an injection of Ioane through the centre, but the black line held. Hooker Keven Mealamu snaffled a decisive ruck ball in his massive workload, Jerome Kaino and Sam Whitelock slammed their tackle clamp on and other dangers were averted.

Then the All Blacks turned the screw. Captain Richie McCaw clawed a turnover away from Pocock, O'Connor had a clearing kick charged down and the pack kicked up a notch.

They were in the last quarter, they could smell a meeting with France but they had to keep their clamp around the Wallabies' windpipe.

Weepu, subbed on and off around Andy Ellis' bloodbin, kicked another penalty and the path to the final was clear.

All Blacks 20 (M Nonu, tries; P Weepu 4 pen, A Cruden dropped goal)

Wallabies 6 (J O'Connor pen, Q Cooper dropped goal)

Halftime: 14-6

All Blacks 20 Australia 6

Get Your Ducks in a Row for Wanakafest!

This week kicks off the start of the annual Wanakafest!

Jam packed full of fun for the family and some of our old faves Passion for Fashion, Food and Wine Fest, duck race, 'My Wanaka' moviefest and of course our parade.

Thanks Willowridge and all the organisers - get out there and support it Wanaka!

Managing Your Debtors

It’s a dog-eat-dog world out there. In the wake of the financial crisis there’s a tendency to do anything to win business. But businesses that take this approach open themselves up to the very real risk of toxic debt in the same way the US found itself in the grip of the subprime mortgage crisis – lenders were so hungry to win market share they were prepared to lend money to anyone, without properly investigating whether the mortgagor could really pay back their loans.

We all saw where that approach ended up and it’s important not to expose your own business to this dynamic.

Here, we look at ways you can increase the likelihood that the people with whom you do business will be able to pay their debts.

1. Have a solid contract, terms and conditions

Establish a clear legal relationship with all your customers right from the beginning. Clearly state in writing your terms and conditions of trade and when payment is required (your credit policy), making sure that the terms are relevant to your business and industry.

Include your terms on all quotes, estimates, agreements and related documentation.

Make sure that you are dealing with a correctly identified legal entity, whether it be a sole trader, partnership, Company or Trust, and have the proper documentation in place, and correctly signed.

2. Know your customer before you deal with them

Extending credit is quite simply giving someone a loan – In our day to day life, we would think long and hard before handing over any money to someone we didn’t know based on a handshake promise of being repaid, but sadly in business, particularly small business, owners can be too eager to close the sale and skip the due diligence process required to make an informed decision on the risks associated with the transaction.

A simple and inexpensive credit check will ensure that businesses are able to clearly weigh up the risk and reward of a new relationship, whether they should extend credit to a customer, how much credit and on what terms.

3. Invoice promptly to get paid faster

I have had the pleasure of working with many skilled trades people and professionals over the years and the recurring theme of cash-flow woe often has its roots in the invoicing process.

The pressures faced by business owners and managers of doing business and getting the work done can mean that the administrative actions required to close the sale can be pushed aside to when time permits.

Getting the invoice out promptly and ensuring the details are accurate will improve cashflow, customer relations and even retention in no time.

Remember to add important details such as the amount due along with the date and preferred payment method.

Including a specific payment date will see you paid faster than the standard 14 or 30 day terms.

Aim to be easy to deal with and easy to pay by considering flexible payment methods such as credit card payments as well as traditional methods such as cheque or cash.

4. Monitoring your debtors

Develop a good record management system and keep records up to date so you can quickly identify who owes you money, how much is owed and whether they pay on time or are stretching the credit friendship and developing slow payment / high risk traits.

Take a proactive approach to credit management by contacting clients a few days before the due date to remind them a payment is due and ask if they foresee any problems with meeting their obligation.

Implement your debt collection practices the minute a debt becomes overdue and ensure clients do not exceed their credit limits.

For many, it’s not easy asking people for money, especially if the account in arrears relates to one of your best customers, so it is essential to give the person in your business with the responsibility of collecting past due accounts the right training to do their job confidently and effectively.

Training staff how to appropriately collect past due accounts and creating a guideline for them to work within when escalating collection matters will make a big difference to the length of time the account is outstanding and to your business cash flow.

5. The bottom line…

Being vigilant about your accounts receivable is vital. Where there has been a breach of your agreed terms you need to follow up promptly and effectively.

There is a clear connection between the age of the debt and the likelihood you will be able to collect payment: the older the debt, the less likely it is you will be able to collect it.

1-day scores TradeMe daily deal coup

TradeMe is handing over its homepage daily deals to 1-day from next month.

Craig Jordan, TradeMe’s head of marketplace, said there would be three offers every day powered by 1-day, running from 10am for 24 hours, or until sold out.

But it's business as usual for TradeMe's own daily deals arm; Jordan said the TreatMe team would "continue to do the great things they're already doing".

The deals will be tailored to the TradeMe community.

“They will be totally different from the deals appearing on 1-day, as we will source products specifically for TradeMe members,” Race Louden, 1-day’s sales and marketing manager, said.

“But TradeMe members can expect to see the same levels of great brands, cool stuff, and massive discounts.”

He said it was a great move for 1-day’s fast-growing business, which will be responsible for sourcing the deals, customer service, and delivery of all products available through the TradeMe daily deals channel.

"Selling deals via TradeMe’s homepage is the next step in developing and building on that success."

TradeMe’s main contribution is its audience, with more than 700,000 people visiting its homepage each day, and a membership base of more than 2.8 million members. It also has an existing daily deals subscriber base built up since it launched the daily deals channel back in June 2010.

Jordan said the arrangement was good news for TradeMe members and anyone who likes a great deal.

The aim was to get more great offers in front of users, something that 1-day could help the company deliver more easily.

“This new and improved daily deals channel will offer our members a selection of the big brands, deep discounts and quality products that 1-day customers have come to know and love,” he said. “The 1-day team are experts in this area and we know they will do an awesome job.”

TradeMe existing daily deals subscribers will receive the new deals from 1-day in their inboxes from November 1.

Idealog: By Esther Goh, October 13, 2011

R.I.P Jobsie!

We are certainly Apple fans here at Findco. Thanks Mr Steve Jobs many of us are rocking iphones, ipods and MacBooks.

Here is one of our favourite articles about how he helped recover their brand in 1997, check it out here. In 2005 he delivered a commencement speech at Stanford University and talks about getting fired from Apple in 1985, life and death. Watch it here.

Enjoy and rest in peace Mr Jobs.

The tribute Apple have posted on their website says it all.

On your bike, the Central Otago ‘Bold’ Rush

Next year is the 150th anniversary of the discovery of gold in Central Otago. While the gold has long gone, the region now has a more sustainable resource in the thousands of tourists drawn to it by its dramatic scenery and reputation as the country’s action holiday capital. It offers a cycling experience on the Otago Rail Trail between Middlemarch and Clyde, including bikes, accessories, accommodation, off trail activities and secure vehicle storage. The story is uplifting in a tough economic climate.

From humble beginnings out the back of a cycle shop Neville and his then business partner Ritchie Bailey set up with 10 bikes and one van and now operate 550 bikes, three 21 seater buses, 3 mini vans and shuttle trailers, and employ 30 staff during peak season.

When Ritchie retired in 2007 Neville sold down 40% of the business to three local business people with expertise to enhance business development and created a formal board of directors.

Neville has a refreshing attitude to financing a rapidly expanding business. Being debt adverse, he pumped profits back in to fund expansion, a decision that paid off when business got tougher during the recession. He admits that at the start planning was ‘seat of the pants’ stuff but, as the business grew formal planning has become an integral feature in their success.

Staff are fundamental to success and Trail Journeys draws on the wealth of passionate semi-retired people who are happy to work part of the year. The company ensures they are an employer of choice, generously rewarding employees, incentivising them when annual objectives are met and upskilling them with both technical and personal development courses.

Up until two years ago 97% of Trail Journeys’ customers were Kiwis. This dropped to 85% on the back of a marketing plan targeting Australians and focused on attendance at the ‘Round the Bays’ cycle event in Melbourne. The trail journey attracts corporates, sports teams (e.g. the Silver Ferns), and secondary schools for team building and personal development.

Key operational decisions Neville made to enhance business performance:

§ Upgrading the Clyde rail head to improve servicing and storage of bikes, and provide workshop, office and reception facilities. Leasing and refurbishing the old garage at Middlemarch to provide bike storage and customer amenities

§ Installing a web based management system to handle itineraries, accommodation and operations

§ Designing with Avanti specific bikes that are robust and comfortable

§ Purchasing Catch-a-bus in 2009 to enhance transport to the trail from Dunedin

§ Encouraging other tourist operators to develop complementary services

The Trail Journeys story is inspirational - an iconic Kiwi business in a truly beautiful part of this magnificent country.

Income tax - removing the uncertainty

‘There are only two certainties in life - death and taxes!’ Although it is difficult to tamper with the sand flowing though the hour-glass of life, good habits can slow its pace. Good taxation planning can ensure that taxes can be managed so there are no nasty surprises resulting in urgent phone calls to the bank manager a few days before due date!

What processes should self employed business people adopt to plan their regular income tax commitments? Here’s some direction.

1. Prepare annual budgets, forecasts and a tax plan. ‘If you fail to plan, you plan to fail.’

Prior to the start of each year prepare budgets and forecasts to map the business’ financial performance over the next twelve months. The operational budget will project the taxable profit from which the business’ tax liability can be calculated and inserted in the cash flow forecast for the ensuing year.

2. Use a suitable computerised accounting system. ‘What you can measure you can manage.’

The business’ financial life needs to be accurately captured with regular reports produced to indicate the company’s profitability, cash flow and performance in critical operational areas. Don’t just run the monthly reports and file them, analyse them to ensure the business is performing in all facets and compare actual results to budget. Talk to us about your accounting system. Our team supports a number of options, including web based solutions such as Xero.

3. Update your tax plan. ‘If nothing changes, nothing changes.’

Businesses are dynamic. So too are the economy and the planet we all squat on. World, national and local events can significantly change business profits, so the tax plan must evolve with the business’ financial performance.

Re-evaluate the tax plan at least three times a year (around provisional tax due dates) to either increase or decrease your provision. This can reduce or even eliminate use-of-money interest charged in certain instances by Inland Revenue for short paid provisional tax and, conversely, reduce bank interest on tax you didn’t need to pay.

4. Seek Advice. ‘A problem shared is a problem halved.’

We can help you with your budgets, forecasts and tax plans or prepare them for you. If you are considering a new business initiative come and talk to us so we can ensure you are using the right structure and allowing for the diverse range of taxes we can be encumbered with. Remember, taxes can be legally minimised and it’s our job to assist you to do so!