Canvas Magazine | The Name Game

EmpowEring markEting SErvicE providErS

fEbruary 2013

The Name Game What your name says about your brand In Sales We Trust Exit Strategy Playing for Keeps

presented by

See page 22

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Publisher mark potter > mpotter@thecanvasmag.com

marketing manager brandon clark > brandon@thecanvasmag.com

MANAGING EDITOR

michael j. pallerino > michael@thecanvasmag.com

“ Your brand name is a crucial first step in how your brand is positioned in the minds of your clients and customers.”

– Josh Miles, Author, “Bold Brand”

ART DIRECTOR brent cashman

CONTRIBUTORS

linda bishop, howie fenton, john foley, jr., graham garrison, ryan sauers, brian sullivan

Editorial board chris petro GlobalSoft

February 2013

tom moe Daily Printing

DEPARTMENTS

dean petrulakis Rider Dickerson

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Publisher’s Thoughts

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david bennett Bennett Graphics

The Edge

tony narducci O’Neil Printing

One Size Does Not Fit All

Leaders of the pack Fujifilm, HP, Ricoh make Thomson Reuters’ Top 100 Global Innovators list

www.thecanvasmag.com

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Why your exit strategy can follow many paths

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How to Live in a Mobile Content World P8

The Corner Office @TheCANVASMag www.linkedin.com/ groups?gid=1797952 CANVAS magazine for more information: 678.473.6131, 2180 Satellite Blvd., Suite 400, Duluth, GA 30097 CANVAS, Volume 7, Issue 1. copyright 2013 CANVAS, All rights reserved. CANVAS is published bi-monthly for $39.00 per year by Conduit, Inc., 2180 Satellite Blvd., Suite 400, Duluth, GA 30097 Periodicals postage pending at Duluth, GA and additional mailings offices. Periodical Publication 25493. POSTMASTER: Send address changes to CANVAS, 2180 Satellite Blvd., Suite 400, Duluth, GA 30097. Please note: The acceptance of advertising or products mentioned by contributing authors does not constitute endorsement by the publisher. Publisher cannot accept responsibility for the correctness of an opinion expressed by contributing authors.

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People News

Personnel Moves You can call me…

Audit Bureau of Circulations changes name to Alliance for Audited Media Joining forces Publisher associations SIIA, SIPA to merge Mark it down USPS lists 2013 mailing promotions

Business Insights: Web-to-Print: Innovation, Disruption or Distraction?

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Communicating: Your Adaptive Communications Model

Conquering Those Creative Blocks

Marketing Insights: Brandstorm: Surviving and Thriving in the New Consumer-Led Marketplace

Product Spotlight P40

The Parting Shot Cold Call 101

Give me my content It’s an inkjet world See ya on social Print is still it The tablets have it

FEATURES P16

P30

The ‘Seven Golden Rules of Account Management’

What do you do when Plan A doesn’t work?

P22

Playing for Keeps

In Sales We Trust

The Name Game

Exit Strategy P36

Do you have the formula to WIN in 2013?

What your name says about your brand

CANVAS P1

The Edge

A

As many of you know, I’m a proud, but very poor, assistant youth hockey coach. If you wanted to be

accurate, you could call me a glorified puck gatherer. But I’ve managed to wax on philosophically with some of these young men. And after a few eye rolls, some of them are starting to get it.

There’s one player on our team who has a real knack for crying. I’m not talking about balling his eyes

out, but he seems to shed tears in almost every game. One time, when I asked him what was wrong, his shoulders slumped and he began to mope. Needles to say, he’s probably not as effective as he could be.

Publisher’s thoughts

Once before a big game, I pulled the kid aside. I looked him in the eye and said, “You need to stop

crying.” He looked at me like I was from Mars. I don’t think he believed I would question his sensitivity

and that every tear had purpose. I continued, “Being positive, even if you don’t want to, will always give you an edge on the competition.”

The kid played lights out in our next game. He was passionate and determined. He even took a hit, and bounced right back up and didn’t cry. Afterward, he asked me how he played. I said he played great.

“Why?” I asked.

“I had the edge,” he said.

Having the right kind of perspective has never been more critical. It enables you to ride the ebbs and flows of this world.

The fact is that too many of us complain about what we don’t have and blame others. And while everyone gets down once in awhile, winners don’t let it become part of their aura. It truly is a competitive advantage to be positive. And when you’re positive, others feed off it.

We must have remarkably good attitudes. Times are tough, and some people have put more faith in material things and false icons than in good, old-fashioned values like faith, hard work and respect.

The ironic thing is that these values, in which the printing industry is steeped, are cornerstones to good attitudes. Meanwhile, material rewards, which many of us covet, don’t seem to bring that positive vibe.

Having the right kind of perspective has never been more critical. It enables you to ride the ebbs and flows of this world. In turn, a good attitude can become part of your brand. In our cover article, “The Name Game,” we provide you with ideas that might get you thinking about your brand and what it means to the world.

In our second feature, “Exit Strategy,” you’ll learn how one of the most critical and strategic business decisions gets made. While having a positive attitude is not directly mentioned in the article, you’ll certainly see how it could impact your ability to make good decisions.

Be positive and let that become part of who you are and what people see. Even if you don’t feel positive today, why not smile? My guess is you will find it’s quite the edge.

Enjoy the issue and all the best,

Mark Potter Publisher Twitter @markricepotter

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CANVAS February 2013

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economics One Size Does Not Fit All

Why your exit strategy can follow many paths

I

By Al Reijmer

t’s Thursday at 6:30 p.m. Sam calls his wife of 36 years, Margaret, to give her a status update.

“I should be home within an hour. I have a few things to finish. I should be home by 8 p.m. at the latest.”

Margaret hangs up, knowing from experience that 8 p.m. most likely means 9 or later.

Sam is a second-generation president

While total sales were down as much as

And, of course, the banks and alterna-

and owner of (the fictional) Valley Graphic

35 percent from 2008 to 2010, VGM’s

tive lending sources now require more

Media (VGM), which his father and uncle

sales have begun to slowly increase. In

difficult terms – higher down payments,

started as Valley Printing & Typesetting

fact, it finished 2012 with revenues just

personal guarantees or a combination of

in 1955. In the late-‘90s, VGM posted

above $8 million and a headcount of 48.

both – than they did in 2000 and 2004.

revenues of more than $10 million and

Following VGM’s annual manage-

Back then, VGM could get 100 percent

employed 58, including Sam’s older

ment meeting, the team concluded

funding without any personal guarantees.

brother, Dave, and his cousin, Fred. Since

that, for VGM to further grow organi-

In 2000 and 2004, when Sam was

then, Dave and Fred have retired and

cally and remain viable, it would need

in his 50s, making equipment invest-

sold their interest in VGM to Sam.

to upgrade its analog offset and digital

ments with no money down and no

Over the years, Sam and Margaret

equipment platforms. Original plans

personal guarantees was an easy

raised four children, two boys and two

called for upgrades in these areas in

decision. But today, the potential of a

girls. Ranging in ages from 26 to 34, each

2008 and 2009, but drastic revenue

$400,000 to 600,000 down payment,

has chosen diverse careers – dentist,

reductions prevented the move.

a $40,000 to 50,000 monthly cash flow

nuclear engineer, lawyer and teacher/

The dilemma VGM now faces flows

requirement increase and no guar-

coach. While Sam would have preferred

in from multiple directions. In 2008 and

antee that the investment will hit the

Not unlike many printing companies, VGM will have to make some tough decisions, and then execute on them with razor sharp accuracy.

calculated ROI has kept Sam up night.

Not unlike many printing companies, VGM will have to make some tough decisions, and

that a least one of them would have

2009, the company retired some major

then execute on them with razor-sharp

joined the family business, he was proud

debt with final payments on the 6/C

accuracy. Today’s margins don’t allow

of the careers they chose. The economic

40-inch press purchased new in 2000,

for anything less.

reality of the commercial printing indus-

and the Digital Print Platform and finish-

Sam dreams of a successful exit

try helped secure the family’s potential

ing/mailing equipment purchased in

strategy that provides a secure retire-

succession plan.

2004. Without improved cash flow from

ment reward not only for his career

Sam, in his early-’60s, has started to

these debt retirements, VGM would have

efforts, but also for his employees. He

contemplate his exit strategy. His near

struggled even more severely, and may

has begun to evaluate the possibility

40-year career is defined by limited

likely have needed to close its doors.

of an employee stock ownership plan

vacations and late nights. His retire-

As we know, timing is everything.

ment dream was for him and Margaret

After carefully evaluating its equipment

to travel the country in their motor home

updates, Sam and his team

to visit the children and grandchildren.

concluded that VGM would

Today, VGM has been impacted by the

need a $40,000 to 50,000 per

challenges inflicted on most commercial

month equipment payment

printing companies over the last decade.

to take them to the next

Nevertheless, Sam and his manage-

level, depending on the level

ment team have made the necessary

of automation and speed

adjustments to remain marginally prof-

deemed

itable in this “new print economy.”

necessary for its future needs.

applicable

and

or outright acquisition.

Needless to say, Sam’s exit strategy can follow many paths. One

In the next issue of CANVAS, we’ll review potential paths and/or exit strategies for VGM, and further explore the challenges and opportunities for a successful sale or acquisition.

size does not fill all. There are many VGMs in today’s printing services industry, each with its own variables and challenges. And there is no substitute for a sound exit strategy, good planning and great execution.

Al Reijmer is a partner at New Direction Partners (NDP), an advisory and management consulting firm that specializes in the printing, packaging and allied graphic arts industries with an emphasis on mergers and acquisitions. You can reach him at areijmer@newdirectionpartners.com (www.newdirectionpartners.com).

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CANVAS February 2013

Ricoh’s TotalFlow Solution Driving the future of digital production workflow.

At Ricoh, innovation means more than offering industry leading equipment and software. That’s why we created TotalFlow, our one-of-a-kind solution designed to give you easy access to revenue-generating solutions from web-to-print to personalization, document and job management, multichannel marketing and much much more!

Our TotalFlow solution offers you: • Customized workflow solutions • Comprehensive implementation services • Strategic and consulting services • Advanced business development services with Ricoh’s Business Booster Program Call 1-800-637-4264 or visit ricoh-usa.com today to learn how we can quickly take you from workflow to TotalFlow.

www.ricoh-usa.com

JOIN US!

Mobile media How to Live in a Mobile Content World

Y

By John Foley

ou should plan your content – all your content – for mobile. Sound crazy? Maybe. But here’s the thing: You must keep your mobile content relevant. Mobile users don’t want fluff. They want what they want, when they want it, on their various mobile devices.

So, when you’re planning your content using responsive web design, think from a mobile standpoint.

Well, consider your audience. Do you want them to be so annoyed that they head to another website to get

Ask yourself:

what they’re looking for?

• What information do I need my mobile users to see?

It wasn’t too long ago that many busi-

• What information do my mobile users want to see?

nesses were stripping away content as

• What other content would be beneficial to my mobile audience?

they developed their mobile sites. After

•W hat else can I add that would improve the overall mobile experience,

looking at their traditional website, they

and not seem stupid or come across as absolute fluff?

• What would be cool but not annoying and useless?

plotted what they could take away to make it “fit” on a mobile device’s small screen. Some still are doing this.

And when you get down to it, doesn’t it just sound wrong?

Isn’t everything on your traditional site there for a reason? Isn’t it great that you or someone on your team thought these things had a good reason to be online?

It’s depressing to think about what needs to be stripped away to make your mobile site readable or useable.

You must keep your mobile content relevant. Mobile users don’t want fluff.

Sure, certain businesses have mobile users searching for specific things.

And having a different mobile site (or perhaps even an app) may make absolute sense. But when you know

Once you answer those questions,

audience doesn’t mean you should

you don’t need specific mobile func-

look at your website. Think about your

abuse it and pack it with a bunch of

tionality that necessitates an app or

desktop audience. Would you answer

gratuitous images, text blocks, etc.

separate mobile site, isn’t it logical to

any of those questions differently if

You don’t have to employ a minimal-

provide your audience with a respon-

you posed them about your desktop

ist approach, but think of it in terms

sive, seamless design?

users? And, if you answered those

of streamlining.

questions differently, what prompted

In that case, working from small, and

Did you ever look for something online

then scaling up, makes total sense.

(on your smartphone or computer) and

You aren’t stripping away anything.

Look, just because you have more real

become annoyed at wading through a

You’re building a new, awesomely

estate when you create your website

lot of “junk” that makes it harder to find

terrific experience that can be enjoyed

for your online (desktop and laptop)

what you really need?

by users across all devices.

your responses?

John P. Foley Jr. is CEO and CMO of Grow Socially (www.growsocially.com).

For more information, call John at 800-948-0113, or email him at support@growsocially.com.

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CANVAS February 2013

No Fear.

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Business Insights Web-to-Print: Innovation, Disruption or Distraction?

G

eoffrey moore’s landmark book, “Crossing the Chasm,” talked about how quickly new technologies are adopted, and may be best known for the notion of a gap between the early adopters and the early majority.

By Howie Fenton

difficulty of getting clients to commit, the price and tendency of clients to use only a few of the features offered.

Worst of all, we sometimes have seen occasions in our consulting work during which staff sabotage the

it was an idea coined “the chasm.”

attempt and others who are reluc-

Crossing the chasm requires a huge

automating and streamlining internal

tant to embrace it, because they feel

momentum, which results in the begin-

production steps such as estimating, job

threatened by the technology. some

ning of mass-market adoption. in other

ticketing, tracking and billing. this can

salespeople, estimators and customer

words, when a technology gets hot, it

drive down the manufacturing costs,

service reps felt that it diminishes or

becomes a “must have” technology.

which has become the essential way to

eliminates their role or value.

at that point, you must either get on

retain sales of commoditized products.

board with the technology or be left

Why has web-to-print not caught on?

the fact is, online solutions are available today, and those customers who feel it has value and want to use it will search out companies that offer it and buy

Crossing the chasm requires a huge momentum, which results in the beginning of mass-market adoption.

from them. You can try to pretend they don’t exist or don’t work well. that may work for your customers. but there will be others who want to work online. if you don’t offer it, someone else will walk in the door, and you’ll lose those customers.

Does this mean that web-to-print will diminish the value of a salesperson or customer service rep? it only will diminish the value of those

behind. those not taking advantage

the reason is that not everyone has

who ignore it and hope it will go away.

of the new technology are no longer

succeeded with web-to-print imple-

something i have learned about world-

competitive. a recent example is the

mentations. We saw this very clearly

class salespeople is that they constantly

migration from a film workflow to

in the leaders’ research in our Digi-

are evaluating and reinventing their value

computer-to-plate workflow.

tal services study. Our panelists said:

proposition, based on new products and technology offered by their company.

a technology that has remained

“there are it issues, including upgrades

strangely immune from “Crossing the

and keeping various software commu-

if you’re struggling to implement

Chasm” is web-to-print, which enables

nicating properly,” and the need for

web-to-print, understand there are two

customers to get quick quotes, order

“constant it maintenance.”

hurdles to overcome. the easier of the

online and pay with a credit card as

One company president reported

two is the implementation of the technol-

you would a book from amazon.com.

that the biggest problem with web-to-

ogy from the manufacturer and training

this slow growth is a mystery, because

print is that “it doesn’t integrate with our

with staff to operate. the tougher part is

web-to-print has many benefits, includ-

mis system as promised.” Other issues

getting the buy-in from both your inter-

ing the shopping cart functionality, and

included the long sales process, the

nal staff and your external customers.

howard Fenton is a senior consultant at naPl. he advises companies on how to overcome production issues, reduce production costs that hurt sales, and to build and sell more value added services. You can reach him via email at hfenton@napl.org.

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CANVAS FEbRUARy 2013

Communicating Your Adaptive Communications Model

T

By Ryan T. Sauers

here is no better time than a new year to learn new things.

complicated, which means nobody can

that’s the plan for much of my writing this year. this article

simply be labeled as a “this” or “that.”

is an overview of the adaptive Communications model, which is the cornerstone of my book, “everyone is in sales.”

But we all have definite communications preferences. remember the word preferences. this means we all have

the model, built from countless

the model allows successful commu-

preferred ways (within each of the four

hours of doctoral research and real

nications to occur – the kind that are

segments) of how we are most comfort-

world observation, will be your guide to

vital to every part of your life. it will

able talking, taking in information, making

becoming a better communicator. the

enable you to discover common

decisions on information, and how we

model builds upon some of the most

ground with a variety of individuals

like to plan things/time orientation.

widely used personality assessments in

and make the communications process

the world, such as DisC and mbti (which

more clear and rewarding.

You will naturally communicate more effectively with a person who shares the

we are certified in). Thus, Sauers Consulting

strategies’

unique

qualifications enable us to put all of this together in a simple and

Adaptive Communications is a central part of our philosophy. It impacts every aspect of your life.

tangible manner. so, what is adaptive Communications

The first area is the “speak-first, think-

same style as you; but you can become

and why does it matter? What will it do

later group” versus the think-first, speak-

a better communicator when you learn

for you? What does this mean? how

later group. this distinction explains

to “adapt” your preferred communica-

will it help you communicate your ideas

how a person prefers to direct his energy

tions style to match the situation/context

more effectively?

and expressions (external or internal).

you’re in.

these are all good questions. my

The second area is the “big-picture”

When you learn to appreciate other

next four articles will address the

versus the “just-the-facts” group. this

peoples’ preferred way of communi-

model’s four separate components.

segment addresses how people prefer

cating, you can provide them with a

to assimilate information from the world

message in a manner and through a

is a central part of our philosophy. it

around them.

medium that’s more apt to be inter-

serves as a powerful way of under-

The third area is the “head” versus

preted successfully by them (as the

standing how you can maximize your

“heart” group. This aspect identifies

receiver of the message). so, in the

interactions with others and enables

how people make decisions on the

process of learning adaptive commu-

you to more effectively communicate

information they have taken in.

nications, start by learning and under-

with them. it impacts every aspect of

The fourth area is the “5 o’clock-

standing your own “default” communi-

your life.

sharp” group versus the “5 o’clock-

cations style, and then learn to recognize

Overall, adaptive Communications

in business, it can help you conduct

somewhere” group. this component

the preferred style of the person you’re

more effective meetings. in social media,

deals with a person’s time orientation

communicating with. next, you can

it can help you understand how what

with the world. Does he like to make a

adjust your style to the other person.

you are writing might be perceived.

decision and be done with it or leave

it can help you approach all of your

things more open-ended?

personal and professional interactions more effectively.

Don’t you think having a better understanding of why you do what you do, and why others do what they do,

in understanding adaptive Commu-

would make your life easier?

simply stated, by following this

nications, it’s important to remember

this is the journey we are all on. the

model’s principles, you will reduce

that we move back and forth between

destination is to make the complexity of

stress, conflict and misunderstandings.

segments in each group. thus, how you

human communications easier to under-

the organizations we consult with are

respond depends on both the situation

stand. so buckle your seatbelts, you’re

finding much success with the model.

and context. human beings are incredibly

in for a great year.

ryan t. sauers is president and owner of sauers Consulting strategies, whose business is growing your business.

Sauers founded the independent consulting firm after nearly 20 years of leading printing/visual communications companies. sauers is working on his doctoral degree in organizational leadership and has a master’s in organizational leadership. He is both a Certified Myers Briggs Type Indicator (MBTI) practitioner and Certified Marketing executive (Cme). ryan’s best-selling book, “everyone is in sales,” can be ordered on amazon.com at: www.everyoneinsales.com. let’s talk: www.ryansauers.com.

CANVAS

P9

Marketing Insights Print catalogs have undergone a transition in recent years. Despite much attention to online shopping, consumers still turn to their catalogs for crucial shopping guidance. Catalogs are also great browsing vehicles that far exceed online methods in color accuracy, texture and product depth.

– Hamilton Davison, president and executive director of the American Catalog Mailers Association, on why despite the rise of e-commerce, today’s consumers retain a strong attachment to print catalogs

BooK rECoMMENdATIoN BrANdSTorM: Surviving and Thriving in the New Consumer-Led Marketplace

By Liz Nickles with Savita Iyer think about those brands that literally have become overnight, word-of-mouth successes. so, what does that mean today? branding guru liz nickles argues that proliferation is threatening to not only stifle true choice in the marketplace, but also to render some decade-earned brand identities nearly meaningless. With today’s unprecedented access to thousands of brands a day via the likes of twitter and Facebook, the balance of brand power is shifting irrevocably away from the businesses behind them. in “Brandstorm,” nickles says that the brand is no longer a value proposition in itself, and that marketers and brand managers must stop the dilution and focus on meaningful, market-specific reinvention for those brands that can stand the test of time. she cites the success secrets behind leading brands such as ralph lauren and revlon, and how to channel their successes today.

CANVAS recommends “brandstorm” as a book that will help open and illuminate your mind, and inspire you to change for the better, both in how you sell and how you buy.

It’s an inkjet world

DID You

KNoW ??????? eighty-three percent of in-house marketers use social posts and updates for marketing, more than any other type of content, according to a report by Outbrain, in partnership with econsultancy. in addition, 78 percent use social network engagement to drive traffic.

Global digital Color Print Volume by Technology

infotrends predicts that production color inkjet will account for 43 percent of global digital color document printing in 2015, up from 16.8 percent in 2010, according to infotrends’ “global Production Printing & Copying market Forecast: 2010-2015.” the numbers speak to the high-volume capability of the new class of high-speed, continuous-feed production color inkjet products.

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CANVAS FEbRUARy 2013

Production color inkjet accounted for 16.8% of the total production digital color volume in 2010 Info Trends predicts that production color inkjet will account for 43% in 2015 • Despite the fact that digital color electrophotography is also growing at a healthy rate

The QR Code Factor

Survey reinforces why they matter to today’s consumers if you’re not using Qr codes to market your business, a recent

USEd MAIl 38% / 36%

study by Pitney bowes shows you may need to jump aboard now. the “2012 Qr Codes use in the u.s. and France” survey reports, that, on average, 15 percent of all respondents have used a Qr code. take a look at the breakdown of

USEd MAGAzINES 39% / 36%

usage by age group to see who’s

USEd PoSTEr 35% / 25%

looking at what.

QR Code usage uSA (age groups) 18-24 / 25-34

USEd P PACKAGING 32% / 31%

USEd WEBSITE 21% / 17%

USEd EMAIl 14% / 16%

USEd TV 9% / 12%

CANVAS

P11

People News Leaders of the pack Fujifilm, HP, Ricoh make Thomson Reuters’ Top 100 Global Innovators list Fujifilm Corp., Hewlett Packard (HP) and Ricoh Co. were

rate, global reach of the portfolio and patent influence as

named to the “2012 top 100 global innovators” list, produced

evidenced by citations.

by thomson reuters. the list recognizes 100 corporations

Fujifilm was cited for its “overall patent volume” as

and institutions around the world “that are at the heart of

well as high ratings for “patent grant success rate,”

innovation.” selection is based on four principal criteria: over-

“global reach of the portfolio” and “patent influence

all patent volume, patent grant success

as evidenced by citations.” hP, which made the list for the second-consecutive year, was cited for the number of innovative technologies it unveiled this year across its portfolio. ricoh was recognized for its innovative initiatives that included more than 4,200 patents in its 2012 fiscal year (which ended March 31). according to thomson reuters, the organizations on the list outperformed the s&P 500 by 3 percent in their market cap weighted revenue (15 percent versus 12 percent).

Personnel Moves GLS Co.s, a printing and digi-

Jayme Wisely

R. R. Donnelley & Sons Co. named Daniel l. knotts its COO,

tal marketing services provider in

succeeding John r. Paloian, who is retiring. knotts most

brooklyn Park, and saint Paul, minn.,

recently was the company’s group president, where he over-

named Jayme Wisely as president &

saw global sales, operations, information technology, logis-

COO. gary garner, gls’ founder/

tics, financial services, business process outsourcing opera-

president/CeO

tions, strategic sourcing and environmental, health and safety.

since

1984,

will

continue to oversee the company’s long-term strategies as chairman

Intec Printing Solutions named mark baker-holmes as its

and CeO. Jayme, who joined gls in may 2011 as execu-

business development director. baker-homes previously

tive VP, has been responsible for managing the company’s

was responsible for the worldwide inkjet program at global

day-to-day operating activities, including revenue and sales

pre-press manufacturer glunz & Jensen, where he took the

growth; expenses, cost and margin control; and monthly,

program from inception to the 1,000th inkjet CtP system,

quarterly and annual financial goal management.

which was sold in October last year.

You can call me…

Audit Bureau of Circulations changes name to Alliance for Audited Media the audit bureau of Circulations (abC), founded in 1914, has changed its name to the alliance for Audited Media, effective immediately. The new name will reflect the organization’s role in auditing media across multiple platforms, including print media brands, tablet and smartphone apps, websites, social media, email newsletters and digital publishing platforms that serve the media sector.

Calling All Entries

Sappi says: Show us your print

sure, the digital and social media worlds are growing. but that just means there’s more of a role for print as a complimentary piece to your communications tools. that means there are some really cool printed pieces out there. and sappi wants to see them. this is your chance to become a “sappi Printers of the Year gold Winner.” along with the award, you get $20,000 in design support and 5,000 pounds of paper toward marketing and brand initiatives. gold and silver winners also receive their own web page in sappi’s Printers of the Year Online resource. the web pages will help better connect you with designers, print buyers and corporations.

For information on entering, visit www.sappi.com/na/poy.

P12

CANVAS FEbRUARy 2013

ENTrIES dUE

FEBrUAry 22, 2013

Joining forces

Mark it down

Publisher associations SIIA, SIPA to merge

USPS lists 2013 mailing promotions

the software & information industry

to provide discounts and other incentives to commercial mailers that integrate

association (siia) and the specialized

mail with mobile, near-field communications and other emerging technologies.

the u.s. Postal service plans to offer six direct-mail promotions in 2013 designed

association

subject to approval, the promotions will include a 2 percent postage discount

(siPa), two major associations for b2b

to mailers using mobile barcodes to prompt users to go online for a coupon or

publishers, is merging.

that help initiate a phone call on a mobile device; 2 cents off each scanned busi-

information

Publishers

siia, a trade association for the soft-

ness reply mail and courtesy reply mail enclosures in first-class mailings; and a 2

ware and digital content industries, will

percent postage discount on mail pieces that include near-field communications

offer siPa programs to its members

or augmented reality technology linking to mobile devices.

Other incentives are available with the use of printed envelope promotions and

in addition to its regular programs. siPa, founded as the newsletter

the mailing of product samples. For more information, visit ribbs.usps.gov.

Publishers association, but whose members now publish in many formats, will become a division of siia. the

your promo calendar checklist

group will continue to offer its own

the 2013 usPs promotional calendar is designed to generate continued

membership programs.

interest in the various uses of mobile barcodes in direct mail and grow

siPa will become siia’s sixth market-

awareness of the ways in which technology can improve direct mail.

focused division, joining the association’s content, education technology,

The promos include:

financial services, public sector and

• Direct Mail Mobile • Earned Value Reply Mail • Emerging Technology Coupon and • Picture Permit Imprint • Mobile Buy-It-Now Click-to-Call • Product Samples

software divisions. siPa will coordinate with siia’s content division.

»»

yoUr NEWS hErE People news. new products. trends that are shaping the way our industry does business. if you have a news item, CANVAS wants to hear about it. all you have to do is email us the information and a photograph, and we’ll do the rest. send your information to michael@thecanvasmag.com.

r u o Y et

G

For more information: Contact us at sales@thecanvasmag.com

Rollem Jetstream XY Finisher Rollem leads the industry in high volume press sheet conversion and finishing automation. Maximize profits on top selling products with our In-line Slitting, Scoring, Perforating, Gluing, Separation & Delivery solutions. Rollem XY Cutting systems accept sheets directly from the press and performs multiple finishing steps in one system, guaranteed to improve your Print-to-Finishing efficiency.

Eliminate guillotine cutters and reduce labor costs on these prodcts: • Greeting Cards, Photo Cards & Prints • Direct Mail, VDP & Transpomotional Documents • Business Cards, Calendars, Photos Books Contact Info: For a finishing consultation, please contact Rollem (800) 272-4381 • www.rollemusa.com/Jetstream

CANVAS

P13

»» Product Spotlight

Conquering Those Creative Blocks have you hit the wall? Drawn a blank? Or are you just plain stumped?

neenah partnered with Josh Chen, principal and creative director of san Francisco-based Chen Design associ-

lET’S FACE IT: in today’s fast-paced, creative climate,

ates (chendesign.com), to conceptualize and develop the

no designer can avoid those creative blocks. that’s why

promotion’s original artwork. “When designing Creative

neenah Paper created Creative (un)blocks, a enVirOn-

un(blocks), we considered our own struggles as designers

ment

Papers’ promotion that features a collection of

and the many hats we’re asked to wear throughout the day,”

inspiring samples and suggestions designed to help design-

Chen says. “The final product is a piece that offers numer-

ers break through inevitable slumps and take their creativity

ous approaches to breaking through the blocks that any

to the next level.

designer might encounter during the creative process.”

®

the promotion allows designers to see and feel how the

ENVIRONMENT Papers from Neenah, the first premium

enVirOnment brand can naturally create design opportu-

post-consumer matching Writing, text and Cover papers,

nities in a unique and sustainable way. “Creative (un)blocks is

are available in 20 colors. It offers four sustainable fiber

pure inspiration,” says tom Wright, senior director of adver-

options, ranging in recycled content from 30 percent to 100

tising and design for neenah Paper. “not only can it guide

percent post-consumer fiber, as well as papers made with

you out of an idea slump, but it shows you how premium

bamboo and bagasse. all papers are FsC® certified, meet

post-consumer recycled colors, textures and weights can be

the mark of sustainable forestry and are made with 100

an inspiring and foundational part of the creative process.”

percent renewable energy.

®

For more information, visit www.neenahpaper.com/environment or call 800-558-5061.

What ENVIroNMENT® offers the 8x10-inch sized paper enVirOnment® promotion breaks into four smaller books, each representing the various environments where designers find themselves immersed during the day. Using visual and copy prompts on nearly 150 pages, the books explore these environments and ways for designers to push through their creative blocks: • Study: researching the who, what, where, when and why of a project

• Connect: Communicating with others in new ways

• Play: exploring new perspectives when creating

• Make: turning a new idea into a tangible masterpiece

BloG ABoUT IT…

P14

to complement the enVirOnment® brand, neenah’s blog – against the grain – will host a Creative (un)blocks interview series, where designers can share tips such as which environments inspire them.

Check it out at www.neenahpaperblog.com

CANVAS FEbRUARy 2013

C a p i t a l f o r w h a t ’ s n e x t.

Plan B Growth looks at small business differently than banks. Traditional finance companies and banks rely extensively on owners’ personal credit score and personal collateral. Instead of focusing on one or two factors, looking for a reason to say “no,” we work hard to find a way to say “yes.” From online, retail, growing and mature companies we have options to help you grow your business.

In addition to business-focused underwriting, your application is evaluated in hours, rather than weeks, and your business is given choices about repayment methods and terms. This all may seem logical to you, but it’s news to our competitors.

We Offer: • Working Capital Loans: Secured and Unsecured

• Equipment Leasing

• Merchant Cash Advances

• Accounts Receivable Financing

• Bank Only Loans

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providing financial services to the business community.

www. p l anbgrowth. com 1825 Cox Road • Roswell, GA 30075 • 678.444.4119 (Cell) • 678.444.4159 (Fax) • chip@planbgrowth.com

The ‘Seven Golden Rules

L

osing business is especially painful when it represents a significant chunk of your income. That’s why account management is a critical

skill for any salesperson. Smart account management helps you maintain and grow accounts, and defend against competitors.

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CANVAS FEbRUARy 2013

of Account Management’

By Linda Bishop

To be honest, some of your important accounts are vulnerable right now. Maybe you’re getting less business than you use to because of an aggressive competitor, or maybe you’re feeling more price pressure than in years past.

CANVAS

P17

In sales we trust

account relationships are dynamic, constantly shifting and are always getting weaker or stronger. a slight shift in the negative direction, especially when it’s a little movement, is easy to overlook. but small losses add up, and before you know it, you have a big-time hurt. When you sense something bad is starting, don’t ignore your selling intuition. take action or you may not recover from the downward slide.

The good news: Your competitors’ accounts are vulnerable, too. Plenty of rival salespeople get comfortably complacent and don’t pay enough attention to messages that signal trouble’s ahead. in both situations, the seven golden rules of account management can help you get – and grow – business.

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself, but not the enemy, for every victory gained you will also suffer a defeat.”

– Sun Tzu, “The Art of War”

Rule 1: Know What Customers Value most purchasing is done out of habit. Customers bought from you in the past. it worked out well, so they buy again without thinking much about the value you provide. it’s a good news-bad news situation. it’s great when happy customers buy again and again, never considering what your competitors have to offer. but it’s bad when your customers start taking your value for granted. i’d be rich if i had a dollar for every time i heard a salesperson say, “i can’t believe this customer is questioning my pricing after all i’ve done for him.” sure, you moved the earth, moon and stars to make your customers happy, but they don’t always appreciate your efforts. You view your actions as enormous, superhero efforts, while your client sees them as what was expected, and what they paid for.

For your key accounts, what does high value really mean? how do you make life easier for your customers? how do you provide convenience? are you reliable and responsive?

Value is a bundle of physical and emotional attributes. When prospecting, one question often asked of buyers is, “What’s important to your vendors?” Once the prospect turns into a customer, the answer is even more important, but salespeople seldom re-visit the question. as a result, they often make wrong assumptions about their clients’ definition of value. this week, schedule a meeting to ask your key customers what’s important to them right now. Find new ways to provide higher value.

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CANVAS FEbRUARy 2013

Account relationships are dynamic, constantly shifting and are always getting weaker or stronger.

Rule 2: Know Who You Compete Against this is another frequently asked question when prospecting. at that point in time, you don’t always get an answer, because your relationship with the buyer isn’t strong enough to warrant an answer.

If they won’t confide in you initially, you might ask later on. This is a mistake. To escape the vendor pool and earn the position of preferred supplier, know against whom you’re competing, and compare strengths and weaknesses. You must know if buyers are loyal to competitors or simply satisfied with them. how long has the buyer had a relationship with your competitor? When a new competitor shows up on the scene, it’s a red flag. If your customer is 100 percent satisfied, why did he allow your enemy to get a foot in the door? What can you do to shove your enemy back out?

When it comes to knowing your competition, take this tip from legendary military commander sun tzu. in “the art of War,” tzu says, “if you know the enemy and know yourself, you need not fear the result of a hundred battles. if you know yourself, but not the enemy, for every victory gained you will also suffer a defeat.”

In sales we trust

Knowing people in key accounts is only the first step. The second step is a very important one: Stay in touch.

Rule 3: Know More People bob sells to WidgetWorld. he calls on Joan, the marketing communications manager. bob is sure all print buying goes through Joan. he also knows her assistant, sheila, and her boss, tony, the VP of marketing. even though Joan introduced bob to tony, he made no attempt to capitalize on the introduction.

Craig also sells to WidgetWorld. Joan is his primary contact, too. he’s friendly with sheila, and after meeting tony, Craig made a conscious effort to stay in touch. at least twice a year, he takes the entire group to lunch, which deepens his understanding of the department’s goals. Craig also knows the company’s two product managers, Dave and sue. they’re Joan’s peers. they also initiate many of the print projects she handles. Craig also knows the purchasing director, the warehouse manager and the head of accounting. right now, bob and Craig get the same amount of business, but that’ll change in the coming year, because Craig is in a far better position to capitalize on new opportunities. list your key accounts. Who do you know? Who should you know? get to know more people in every account. if you know more people, you’ll sell more in the long run.

Rule 4: Stay in Touch Knowing people in key accounts is only the first step. The second step is a very

Rule 5: Understand Your Customers’ World

important one: stay in touch. it’s critical to touch people regularly. send an email

Your accounts operate in a dynamic

with a link to an article of interest. Drop something in the mail. schedule a meet-

world. buyers are tasked with new inter-

ing. invite a group to lunch. send a handwritten note.

nal initiatives. bosses come and go.

Competitive threats arise. new regu-

While staying in touch sounds simple, it’s really not. try following this plan:

lations go into effect. Departments or

• Create a list of contacts.

companies reorganize. upheaval, big

• Prioritize the names on the list from most important to least important.

or small, happens throughout the year.

• On a weekly basis, schedule a block of time for stay-in-touch activities.

selling success often is determined

• Decide what to do.

by your ability to anticipate change

• Do it.

within your customers’ world and react faster than the competition. keep your

P20

Creating top of mind awareness within your accounts gives you a competitive

eyes and ears open. stay alert, and

edge. it puts you in the right place at the right time for future opportunities. and

you’ll find ways to exploit change and

it helps you sell more.

accelerate growth.

CANVAS FEbRUARy 2013

Rule 6: Understand Pain Points buyers have problems, complaints and issues that annoy them. some of these problems are mosquito-sized. Others are as big and threatening as lions. Your customers gladly would spend money to get rid of them. to pinpoint big pain, ask these questions: • What’s the biggest problem your clients wish they could solve right now?

• What keeps them up at night?

• What’s stopping them from reaching their goals?

• What’s their biggest time-waster?

• If they could spend money to fix one thing now, what would it be?

Do you want to penetrate accounts deeper? know their biggest problems and solve them.

Rule 7: Sell the Value of the Account to Your Boss if the account is important, you better educate your boss on

instead, ask for help to provide customers with higher

why it is. take your boss on calls. ask for help to solve problems.

value. he may have insights on improving response times,

let him know the current value of the account, the account’s

estimates or proofs. if there are quality issues, let him know

potential and what the barriers are to getting more work.

how they impact pricing and account growth.

Don’t whine about high prices. Your boss likely will attri-

What if your top 10 accounts grew 10 percent this year?

bute those complaints on your lack of ability to sell and

how much more would you earn? let the seven golden olden

create a point of differentiation.

rules be your guide to success in 2013.

linda bishop, a longtime veteran of the commercial printing industry, is the founder of thought transformation inc. (www.thoughttransformation.com), which trains and consults companies and sales professionals on how to sell more and reach their full potential. You can reach her at lindabishop@thoughttransformation.com.

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CANVAS FEbRUARy 2013

The Name Game What your name says about your brand

By Graham Garrison

A

bowl of hot stew is not something Josh miles, author of “bold brand,” craves, but when his creative director invited him to lunch at “John’s Famous stew” – a little indianapolis secret – his curiosity was piqued. by the brand name.

“That is a brand name that definitely implies a promise,” says Miles, principal and founder of Miles Design, an award-winning design firm. “it’s a promise that they stand behind heartily.”

Sponsored by

CANVAS

P23

The Name Game

“ Brand names are the cornerstone building block for developing brand equity in the consumer’s mind.”

– Susan M. Broniarczyk, University of Texas

Miles says a brand’s name helps potential

clients/consumers

Both are viable and can be used to help position a company within a market, if

better

used effectively. If it’s a personal brand, then you want your name to be synony-

understand what they’re about to

mous with your company and your work, says Leff, who named his company “Leff

buy, and helps repeat clients know

& Associates,” as one person was the primary “product” being sold. If you’re

they’re in the right place. It’s position-

building a company based on a specific product or service, it’s important that

ing within a marketplace. It sets up an

your name provides that information, he says. “It’s a rare company that can grow

expectation for what kind of service or

quickly with a name that doesn’t reflect their products.”

product you’re about to purchase – a “promise,” he says.

“A brand name that is meaningful and descriptive (e.g., Burger King) informs the consumer about your core product or benefit and reduces the initial marketing

It also likely will be the first interaction you have with a prospective

expense to generate consumer understanding of the product/service offered by the brand,” Broniarczyk says.

customer, says Mitch Leff, founder of Leff & Associates, an Atlanta public

Reasons for change

and media relations services firm.

Valid reasons for changing your name include changes in products or services,

“The stronger that brand identity,

a change in ownership, and changes to a geographical area served. Sometimes

the better prospective clients will

a company can change only part of its name or add something on to the end to

understand the value that you bring

differentiate itself, Leff says. For example, a company known as “Smith & Sons”

to the table.”

might change its name to “Smith & Sons Interior Design,” he says.

What makes a good brand name,

Yet, simply changing a brand name without careful examination could prove

and what should companies consider

costly. “Changing the name of a company that has been in business for many

if they’re thinking about changing

years is a risky proposition,” Leff says. “You are likely to lose the brand equity

theirs? It’s more challenging than you

you’ve built up over those years.”

may think.

“Brand names are the cornerstone building block for developing brand equity in the consumer’s mind,” says Susan M. Broniarczyk, Sam Barshop Centennial professor of marketing administration,

McCombs

School

of Business, University of Texas.

“Choosing an effective brand name involves multiple, often conflicting criteria. A marketer’s challenge is to evaluate these criteria tradeoffs and select the brand name that optimizes the firm’s objectives.”

Personal or products Company or brand names often fall into two categories – personal (a person, family or group that has put the organization together) or product.

P24 CANVAS February 2013

The Name Game

Name changes done right Short and sweet – SyFy and FedEx: “Changing Sci-Fi Channel and Federal Express to SyFy and FedEx were more than just shortenings of their original names,” says Josh Miles, author of ‘Bold Brand.’” “Both are a little more fun to say, and created their own words in effect. These are also far easier to protect.”

Expansion: Non-profit firm All About Developmental Disabilities, a non-profit: “For 50 years they were known as the Atlanta Alliance on Developmental Disabilities, but when its services expanded across Georgia, it was clear the organization needed a name change, and it became All About Developmental Disabilities,” says Mitch Leff, founder of Leff & Associates.

If a company is considering altering its name, it should create a marketing and business transition plan to guide it through the process. “This might include marketing, public relations and advertising costs, which are likely to be higher in the first few months after the change,” Leff says.

Consider as well the costs of changes in building signage, letterhead, logos on trucks, uniforms, ID badges, packaging, internal forms, websites, etc. All of these elements should be anticipated and budgeted.” The company also should reach out to current customers with a personalized letter alerting them to the change and explaining the reasons for it.

Miles says if a company is committed to a change, it should ask itself the following questions: 1. “How much ‘equity’ do you have in the current brand name? Are you willing to sacrifice this?”

2. “What is your plan to market the new name in transition? What kind of investment will this require?”

3. “Is now a time of transition? If you’re already making several changes, especially in how you want the market to perceive your brand, now may be an optimal time to reconsider your brand name.”

4. “ Remember: Your brand name doesn’t have to describe what you do to be good. Suggestive, arbitrary and fanciful names can make for much stronger brands, and more protectable trademarks.”

“ It’s a rare company that can grow quickly with a name that doesn’t reflect their products.”

– Mitch Leff, Leff & Associates

P26 CANVAS February 2013

“ Your brand name is a crucial first step in how your brand is positioned in the minds of your clients and customers.”

– Josh Miles, Author, “Bold Brand”

Companies also must consider legal protectability. “The biggest challenge for new brands today is that most existing meaningful words are already trademarked and internet domain names taken, so they are ineligible for their brand name use,” Broniarczyk says. “This is why you see the majority of new brands using variant spellings of existing words (e.g., Flickr), novel word combinations (e.g., Mondelez, Kraft’s spin-off was intended to convey world (monde) deliciousness (delez) ) or ‘made-up’ names (e.g., IKEA).”

One piece Ultimately, the name is just one element toward competing in the marketplace. Your audience must be defined and your product must deliver, but the stronger the name you put in front of those customers, the better staying power you’ll have.

“Having a very unique and powerful corporate identity, as well as establishing an ‘ownable’ brand voice throughout your messaging are both very important elements to enhancing your brand,” Miles says. “But your brand name is a crucial first step in how your brand is positioned in the minds of your clients and customers.”

The Name Game

?

e m a n a n i s ’ What

I

t takes a few days to create a company name and logo, but years to create brand equity.

Brand equity extends far beyond the company name, logo or tagline – and even the products and solutions offered. Building brand equity requires a valued relationship to be created with customers – becoming a trusted partner. It requires clearly articulating the value you will deliver to your customers and delivering it consistently over time.

When Océ North America, Océ Imagistics Inc. and Canon Business Solutions merged to form Canon Solutions America Inc., a wholly owned subsidiary of Canon U.S.A. on Jan. 1, 2013, transferring the brand equity of the Océ name, and reputation of Océ’s Production Printing products and solutions, was first and foremost on the mind of Francis A. McMahon, VP marketing for production printing, Canon Solutions America.

“Our customers know that Océ knows production printing,” McMahon says. “Throughout our company history of 130-plus years, we built a reputation for high-speed, rock-solid reliable solutions. Our customers recognize the application versatility, workflow expertise and awardwinning service that Océ has consistently delivered across a broad range of end-to-end solutions – from cut sheet to continuous feed, monochrome to full-color and toner to inkjet. They know us and trust us for proven, scalable solutions that are customized for their businesses, backed by unparalleled, award-winning service, and built to last.

“That’s the brand equity we knew we must successfully transfer over to our new name, Canon Solutions America. It is crucial that we clearly articulate to Océ Production Printing customers that everything they know and love about Océ is the heart of the new Canon Solutions America Production Printing Solutions group, it hasn’t gone away, and it will only get better with the strength of the Canon brand.”

To do this, McMahon and his marketing team looked to their customers – gaining insights in the quarterly customer advisory councils (Transactional and Graphic Arts). “We didn’t want our customers just to hear about the change – we wanted them to become a part of it,” McMahon says.

Customers played a critical role leading up to the change and will continue to well beyond.

When asked the key ingredient of a successful transition, McMahon doesn’t hesitate, “Put the customers first, bring them in to the process and then don’t just end the process. You’re going to continually want to build your brand. Your customers are going to be your No. 1 champions out there helping you build that brand equity.”

We didn’t want our customers just to hear about the change – we wanted them to become a part of it.

– Francis A. McMahon, Canon Solutions America

Today, océ customers will reap the benefits as part of the new Canon Solutions Americas: rESEArCh & dEVEloPMENT: The merger will deliver technological benefits, because the organizations are building on each other’s innovations and sharing the cost of research.

SErVICE: Océ has strong knowledge of the production printing market and the requirements for mission-critical application service levels. Canon Solutions America will benefit from this philosophy.

WorKFloW: Software always has been a critical part of Océ’s solutions. The Canon line will benefit from the Océ PRISMA® workflow software for on-demand printing environments.

CUSToMEr FoCUS: Canon Solutions America will be customer focused – partnering to ensure it understands its customers’ unique business needs, applications and workflow to help them streamline their operations, identify new revenue streams, and build customer loyalty.

FINANCING: Canon clearly brings financial strength to Océ. Access to Canon Financial Services Inc. – a wholly owned subsidiary of Canon U.S.A. – for financing and leasing of commercial equipment will simplify equipment sales and acquisitions for existing Océ customers.

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CANVAS FEbRUARy 2013

E n c o u r a g i n g

c r E at i v E

m i n d s

Founded in 1996, The Electronic document scholarship Foundation (EdsF) is a charitable, non-profit, that engages in programs designed to attract the best and brightest to the industry. By granting scholarships, fostering education, promoting research, recognizing leaders, encouraging innovation, and garnering and disseminating knowledge, we are helping build the next generation of digital content and delivery professionals.

SCHOLARSHIPS

RESEARCH

EduCAtIOn

EdsF’s scholarship program makes it possible for students to receive the education necessary to pursue careers in the document management and graphic communications industry. What sets EdsF apart from other Foundations is the international scope of our operations.

EdsF sponsors academic research grants and partners with major industry research firms to provide businesses with cutting-edge data on trends in the document management and graphic communications industry. since 2001, EdsF has provided 30 research grants, developed a grant/mentor program and published over 25 white papers.

Through recognition of leading educators and educational programs worldwide, EdsF continues to build awareness about career opportunities in the industry, while ensuring that businesses have a talented pool of applicants to recruit.

more than ever before, there is a critical need for individuals and companies to support the future of the document management and graphic communications industry. EdsF’s scholarship program enables students to receive the education necessary to pursue careers in the industry, while providing much needed assistance in offsetting the ever increasing financial burden. Please join us as we work together to provide our future business leaders with the skills and knowledge necessary to shape our industry for years to come.

The Electronic Document Scholarship Foundation For more information visit www.edsf.org or call +1 817.849.1145

Exit

Strat

By Michael J. Pallerino

“Every exit is an entry somewhere else.”

– English playwright Tom Stoppard

W

hen ibm sold its personal computer business to lenovo in 2004, the writing was more than just on the wall.

According to IBM’s quarterly filing with the securities and exchange Commission that year, the once seemingly infallible brand had lost nearly a billion dollars selling personal computers during a three-anda-half year span. Writing on the wall indeed. in the end, ibm simply wasn’t willing – some say, able – to take the steps needed to turn the business around.

not being able to hold a sustainable competitive advantage in the personal computer market forced ibm to reevaluate its business model. the solution was easy, really. ibm had to exit the personal computer category, which it did through the acquisition by lenovo. so ibm went back to the drawing board and reinvented itself as one of the most recognized consulting and business services companies in the world. “Paralysis is the death of good businesses,” says Paul share, director at Conway mackenzie inc., an international consulting firm specializing in turnaround and crisis management, manufacturing operations consulting, litigation support services, and investment banking services. “You have to make a choice and push for implementation.”

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CANVAS FEbRUARy 2013

Egy

What do you do when Plan A doesn’t work?

CANVAS

P31

Exit Strategy

“Paralysis is the death of good businesses. You have to make a choice and push for implementation.”

– Paul Share, Conway MacKenzie

5 things

your business should do now 1. Examine where your marketplace is going five years out – not next month or next year 2. Be aware of technology changes that could impact your business

strategy, ketchum said the most impor-

ibm is one of the companies that got

tant factor in any change management

it right, Share says. “Most of our finan-

equation is to make a compelling

cially distressed clients had gut feel-

case for change. ketchum’s blueprint

ings that they should have done some-

included the factors that all companies

thing, yet they just kept waiting until

need: have the right strategy; have

they found themselves in a crisis mode

the right people; and have the right

or at risk of losing it all. but hope is

culture to achieve what you want.

not a strategy. make your best choice, with the best information you have (like ibm did). Do not wait for perfect information because it doesn’t exist.”

When mark ketchum took over the reins at newell rubbermaid in 2005, he was operating with an impressive

“He who hesitates is not only lost, but miles from the next exit.”

– unknown

portfolio of products. For more than 100 years, the global marketer of consumer and commercial products had become a household name on the

When to exit and why

strength of brands such as rubber-

there are myriad reasons that compa-

maid®, sharpie®, and graco®, to name

nies decide to exit from a product cate-

a few. but as the former CeO soon

gory or market segment altogether.

discovered (ketchum retired in 2011

The printing services industry is filled

and returned to his seat on the board),

with companies that are reinventing

everything was not as it appeared. the

their business models to change with

old newell rubbermaid, as ketchum

the seemingly endless changing indus-

referred to it, boasted five business

try. “generally, if someone is abandon-

segments with 26 different business

ing or exiting a product offering, it is

4. Review the overhead your business line supports: Can it be used in a better opportunity?

units. but ketchum knew the company

because the sales or profits from that

could – and should – have been doing

product or service are not generating

much better. there were too many

the results desired,” says Jim russell,

pots to stir, so to speak. some things

partner at new Directions Partners,

had to go.

which provides advisory services in

5. Before you shut a business venture down, examine the fixed or legacy/wind down cost impact and effect on remaining business units

Wielding a careful strategy, ketchum

3. Thoroughly review lowgrowth or low-margin business ventures

– Source: Paul Share, Director, Conway MacKenzie Inc.

P32

When it comes to exit strategies,

CANVAS FEbRUARy 2013

began to narrow the company’s portfolio

investment banking, valuation, financial advisory and management consulting.

down to three business segments and

margins are shrinking. sales are

13 business units in just three years.

declining. the allocation of human

some of the reductions meant that

resources is greater than the return.

newell rubbermaid had to exit certain

Poor quality in one area jeopardizes

categories. Of the transformation/exit

sales in another. these are the types

of things russell says can force a

larger, more profitable segment? If

company to exit a product and/or

the answer to both of these is no,

service category. “For example, if a

then why are you still in it? it may be

printer has moved into website hosting

time to get off the fence and reallo-

and developing, but finds that its poor

cate the resources being expended

performance in that area is jeopardiz-

on this offering.”

ing its overall reputation and could

Paul V. reilly, the founder of new

cause the company to lose substan-

Directions and a partner with russell

tial print volume, the company may

in the firm, says that, in the printing

decide to gracefully exit web design

services industry, the classifications of

and focus more on its core business,”

business are not the same for every

russell says. “the criteria is different

printer. “For instance, web-to-print may

for each situation – declining busi-

be a question for one printer and a star

ness, declining market share, loss of a

for another. all printers should under-

key employee (in some smaller, fringe

stand where their business rests in the

service offerings), limited capital for

matrix. healthy printers have some

investing all are reasons to examine

business in all. and customers within a

segments of the business that may not

business may be classified differently.

be a profit center.”

but remember, exiting a business is not

russell says that assuming you’re

failure; it’s a part of growth.”

not talking about a new/emerging

in the end, implementing an exit

technology or service, you must ask

strategy on a particular venture will

yourself if the thing you want to exit

depend on the future of the busi-

is a profit center/cash flow genera-

ness as well as marketplace expecta-

tor. “if not, will discontinuing this area

tions. “low revenue alone doesn’t

of your business greatly jeopardize a

necessarily mean you should shut

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Exit Strategy

Your 6-point exit strategy plan 1. Determine a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis for the current business 2. Determine where the company should focus future resources 3. Determine which business units should be the focus and which units should be kept to support new initiatives (i.e., harvesting cash from business units and using toward future productivity) 4. Implement decisions, and then make changes if decisions are not as expected 5. Constantly monitor and make sure decisions are performing versus just sticking to the original plan Source: P aul Share, Director, Conway MacKenzie Inc.

“ Every company has tried various products or services that have not worked out as planned. But without new ideas or offerings, a business would have no innovation.”

– Jim Russell, New Directions Partners

down operations,” Conway MacKen-

getting the input of other members of

out as planned. But without new ideas

zie’s Share says. “Low revenue could

your team for strategic directions. “It

or offerings, a business would have

exist with a high contribution margin.

would be wise for the CFO and another

no innovation. It would become stag-

Additionally, consider the fixed over-

business strategist, like the chief market-

nant. It’s management’s responsibility

head and how it looks if part of your

ing officer, to determine where the

to analyze new offerings before intro-

business has been closed. Will this

company will be heading in the future.”

ducing them to the market place. It’s

affect another business/product line’s

There are many opinions of what

important that as much pre-planning

bottom line if any of the shared over-

happens when a company decides

is done as possible to insure new

head is reallocated? Your decision

to exit a product or service category.

offerings are successful both exter-

should come down to long-term health

But before you decide, New Direc-

nally and internally. Your custom-

and survival. Short-term decisions can

tions’ Russell says remember the

ers and employees like to work with

be painful, but without such decisions,

old adage, “better to have tried and

companies that are progressive – ones

the entire business can eventually

failed then to never have tried.”

that want to try new things. The occa-

be hurt.”

“This certainly pertains to business.

sional failure will not cost you loyal

And if you decide to implement

Every company has tried various prod-

clients, and should not be a reason to

an exit strategy, Share recommends

ucts or services that have not worked

become complacent.”

P34 CANVAS February 2013

Playing for Keeps Do you have the formula to WIN in 2013?

P36

CANVAS FEbRUARy 2013

T

here are only two things that will make you famous in 2013 – your knowledge and skill. So, are you prepared to do what it takes to make this your best year? Whether you’re a seasoned veteran or an eager rookie, some Dos and Don’ts separate top performers from the rest of

the pack. These survey questions will help you determine if you’re doing what it takes to get on top and stay there. Check out the answers to see how you fared.

1 2 3 4 5 6 7 8 9

The most important skill of a salesperson is the ability to: A. Deliver the key features of his solution.

B. Listen and learn.

C. Overcome objections.

Top performing salespeople understand they need to: A. Ask a question, deliver the benefits, ask another question.

B. Deliver some product information, ask questions, then deliver more.

C. Ask, listen, ask, listen, ask listen, then deliver the solution.

The most important quality of successful salespeople is: A. Positive attitude and enthusiasm B. Product knowledge C. Sales process The most important emotion a salesperson must create early on in a sales call is: A. Uncertainty about his current supplier B. Urgency to make a change C. Curiosity to learn more Which of the following phrases will get the customer to open up and give you the information you need to serve him?

A. What keeps you up at night?

B. Thanks for your time. I’d like to ask you some questions to save you time, and see if I might be able to help.

C. Are you having any challenges with your current supplier?

The best time to determine who makes buying decisions in a facility is: A. Early in the sales call B. At the end of your presentation C. Never, wait for the prospect to tell you What is the most common mistake below-average salespeople make before and during a sales call?

A. They don’t have a call objective.

B. They don’t bring the necessary supporting materials.

C. They don’t seek advice from their managers.

To effectively convey your solution, you must: A. Explain how others have benefited from your product.

B. Explain all the features and benefits of your solution.

C. Focus your presentation on key benefits that you learned.

The best time to deliver your financial presentation and give the customer the cost is: A. On a follow up meeting after he reviewed your information B. In the earliest call possible after he confirmed the benefits of your solution C. A B C: Always be closing.

CANVAS P37

Playing for Keeps

Quiz Answers 1. B . Below-average salespeople do

Too many salespeople mistake activity for progress.

Never make a call without a clear objective.

6. A. Have you ever delivered your

more talking than listening and

greatest sales presentation to the

learning. Don’t educate until you

wrong person? Of course you have.

understand what your customer is

We all have. Don’t wait until the end

thinking and feeling.

to ask the question, “Who, as well as yourself, is responsible for deciding

2. C. A common mistake of underper-

on the need for a product like this?”

forming salespeople is that they deliver their presentations too early.

7. A . Too many salespeople mistake

Don’t just learn a little, and then

activity for progress. Never make

present. Listen to the full story first,

a call without a clear objective that

and then deliver your benefits.

has the customer doing something as a result of the call. “My objective

3. A. All three answers are important.

is to get the prospect to agree to

But prospects will say “yes” to you

introduce me to the key decision-

based more on your attitude and

maker…to agree to place an order

enthusiasm for your solution than

today…to agree to a formal presen-

anything else. They make decisions

tation sometime in the next seven

emotionally and defend them logi-

days.” It’s not about what you do;

cally. So, let them know you love

it’s about what they do as a result

what you sell.

of your call.

4. C. Delivering your information

8. C . If you ask effective questions

before they even want it only

that get them to open up, you

creates more resistance. Use a

should have a notepad full of bullet

curiosity building question such as,

points that say exactly what you

“Would you be interested in hear-

need to focus on. Customize your

ing how we may be able to________

presentation around those points

(add a big benefit).

and get little agreements along the way.

5. B. Thanking prospects for their time automatically brings walls down.

9. A . Stop and listen to the objection.

And preparing them for questions

Don’t minimize it. Peel back the

in a low-profile way will make them

onion to determine the root cause

see the benefits of their responses.

of the objection. Make no assump-

Ask probing questions too early,

tions. This will assure you answer

and they’ll only see your questions

the correct objection. Next, get

as a tool of sales manipulation.

confirmation you did.

Scores Let’s see how you did. Go back and give yourself 10 points for every one you answered correctly.

80-100 Nice work: You have the communication and influence skills necessary to serve clients at the highest levels. You understand the value of learning and delivering. You also get more done in fewer calls than average salespeople.

60-70 Good news: You understand some of the key skills of top performers, but there is room for improvement.

Below 60: Remember, you will learn more from your failures than your successes, so take what you have learned and put those skills into action. See you at the TOP.

As president of PRECISE Selling, Brian Sullivan, CSP, delivers seminars and internet training programs on sales, customer service, leadership and presentation skills to companies of all sizes. To sign up for a free video training module on The Beauty of Questions, visit www.precisesellingonline.com. For seminar information, visit www.preciseselling.com.

P38 CANVAS February 2013

The Parting shot

P40 CANVAS February 2013

can you imagine a gorgeous coffee table microsite?

With the growth of digital and social media, print increasingly plays a complimentary role in today’s array of communications tools. But let’s face it, nothing comes close to the tactile experience of print.

Show us your best (print) work.

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Entries are due February 22, 2013.

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