Katrina Olson

Strategic Communications

Market Boldly 014 – Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2

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Market Boldly
Market Boldly
Market Boldly 014 - Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2
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Join me with guest Michael Evanko, VP of Reading, Pennsylvania-based Fromm Electric Supply in this second installment of this discussion about the digital transformation in electrical distribution. If you’re still figuring out how to get started, tune in to learn:

  • What to think about when adopting a new technology like CRM
  • Why marketing must take a strategic leadership role in the digital transformation
  • What to consider when deciding between outsourcing or adding marketing staff
  • How (or if) one person can manage a distributor’s entire marketing function
  • Why you can never stop learning

Michael discusses his experience and offers suggestions for those just beginning their digital journey. It’s not as difficult as you think if you have the right approach and the right people on your team.

Market Boldly 013 – Digital Transformation with Michael Evanko of Fromm Electric, Part 1

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Market Boldly
Market Boldly
Market Boldly 013 - Digital Transformation with Michael Evanko of Fromm Electric, Part 1
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Join me with guest Michael Evanko, Vice President of Marketing for Fromm Electric Supply of Reading, Pennsylvania as we talk about Fromm’s digital transformation and how they’re navigating the challenges of technology. You’ll learn:

  • Why you need a technology roadmap (Hint: it will save you time and money!)
  • How to determine what you need in your marketing technology (martech) stack
  • Why implementing a CRM is not just about buying software
  • How technology makes customer information more easily accessible and readily available
  • Why it’s important to set goals before purchasing technology or software
  • How technology enables omnichannel marketing versus multichannel marketing

If you you’ve been struggling with how to get your company to embrace the digital age, this episode is for you. Watch for Part 2 for even more information to help your company begin its digital transformation.

Includes shout-outs to Rockwell Automation, WebPresented, Salesforce and Infor.

Market Boldly 012 – Amazon, Product Launches, and Building Loyalty with Mower’s John Favalo

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Market Boldly
Market Boldly
Market Boldly 012 - Amazon, Product Launches, and Building Loyalty with Mower's John Favalo
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Join me with guest John Favalo vice president of Mower and leader of its B2B practice. Mower is one of America’s largest privately held full-service marketing, advertising, PR, and strategic consulting agencies with nine locations throughout New York, and in Atlanta, Boston, Charlotte, and Cincinnati.

A former agency owner, B2B veteran, and award-winning marketer, John shares some of Mower’s guiding principles for competing in today’s highly competitive, fast moving and rapidly changing world of distribution and manufacturing.

In this 45-minute podcast, you’ll learn:

• How distributors can avoid be swept away by the Amazon tsunami: https://www.mower.com/insights/can-your-brand-survive-the-amazon-tsunami/
• The 3 qualities of Mower’s transformation Brand as Friend (BAF) philosophy (based on behavioral science research)
• How to manipulate and leverage the 3 drivers for each of those qualities to create a competitive advantage
• The answer to the question, “Does the human element still matter?”
• How to structure a “progressive product launch”
• The 6 dirty words of product launches and how to avoid them
• What John thinks about awards programs, contests, and product endorsements.
• How and why to build customer loyalty in a price-sensitive environment.
• John’s advice to marketers: “You can never know enough about ____________.”

To learn more about the topics we discussed, download these free resources:
• Can your brand survive the Amazon tsunami? – AmazonChallenge_1102
• New Product Launch Think List – NewProductLaunchThinkListV2

Market Boldly 011 – What about your business is uncopyable?

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Market Boldly
Market Boldly
Market Boldly 011 - What about your business is uncopyable?
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Join me with Steve Miller, marketing consultant and author of the 2017 Amazon #1 Best Seller Uncopyable: How To Create An Unfair Advantage Over Your Competition. Steve has consulted with clients ranging from entrepreneurs to Fortune 100 companies including Proctor and Gamble, Caterpillar, Starbucks and Coca- Cola in addition to several large, North American exhibitions. He has been featured in Fast Company, Business Week, Fortune, the Wall Street Journal, and The Washington Post.

In this episode of Market Boldly, Steve and I discuss:

• the 3 traps most companies fall into when trying to find their competitive advantage
• why “partnership” doesn’t work anymore
• what distributors can learn from the Broadway show, Hamilton
• what revered total quality management consultant Steve hung out with when he was a kid
• what then-high-tech device Steve’s dad invented
• the difference between intrinsic and extrinsic benchmarking
• what fourth element a business needs to succeed in addition to quality products, excellent customer service and a decent price
• what it truly means to be uncopyable and 3 strategies for creating an uncopyable attachment to customers

And if you stay tuned until the end, Steve offers you an ethical bribe to buy his book, Uncopyable. It’s a bonus worth $197 — in addition to all the great stuff you’ll learn from this podcast and in his best-selling book.

Market Boldly 008 – “Solar is hot in the Midwest & Beyond” with Tim Montague

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Market Boldly
Market Boldly
Market Boldly 008 - "Solar is hot in the Midwest & Beyond" with Tim Montague
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Solar energy is experiencing a burst of growth in Illinois and throughout the Midwest thanks in part to current state and federal incentives for homeowners, businesses, schools, colleges, local governments, nonprofits, and others who invest in solar photovoltaic (PV) energy systems.

Meet Solar Expert, Tim Montague

Tim Montague, commercial solar developer with Continental Electrical Construction Company of Oakbrook, Illinois, a western suburb of Chicago discusses the benefits and incentives associated with solar energy. Continental started its renewable energy division in 2009 and is one of the largest installers of solar PV (rooftop and ground mount) systems in Illinois. Recent projects include retailers like IKEA and Abt Electronics, a 10-acre solar array at IKEA’s Joliet distribution center, plus several schools and colleges.

Why Solar Makes Sense Now

  • In recent years, the cost of solar technology has dropped significantly. It’s now less than 60 cents per watt; compared to $100 per watt in 1975.
  • Payback periods are the shortest they’ve ever been—only 4 to 6 years, compared to 10 to 15 years just a few years ago.
  • Federal and state legislation are making it possible to get into a solar array for as little as 10 to 15 cents on the dollar.
  • Combining state and federal incentives can fund as much as 80% of a solar PV system.
  • Companies can reduce their power bills by anywhere from 50% to 75%!

Here’s a Breakdown

Following is a breakdown of incentives and rebates for years one through five of a solar project.

Federal ITC (Incentive Tax Credit)                  30%

SRECs (Renewable Energy Credits)                 20%

Smart Inverter Incentive ($250/kW DC)        10%

MACRS Depreciation                                          30%

Electric Bill Savings                                             20%

As a result of all these incentives, the up-front cost to purchase and install a solar PV system can be reduced by as much as 90%!

Incentives Aren’t Forever

Manufacturers, distributors and contractors who want to get into or build their solar businesses need to act while the incentives are still good. Some payouts decrease each year and expire in as few as five years. Listen to the full podcast to learn how to take advantage of these opportunities while solar is hot.

Summary of Available Incentives

  • Illinois Future Energy Jobs Act (FEJA) passed in 2016 and enacted in 2017 funds $200 million of cash incentives in Illinois project owners who get 20% of project value back as a cash incentive. FEJA also provides for rebates for smart inverters for distributed generation projects. (http://www.futureenergyjobsact.com/about)
  • Modified Accelerated Cost Recovery System (MACRS) – Provides for accelerated depreciation for business owners, worth about 30% of project cost. (https://energy.gov/savings/modified-accelerated-cost-recovery-system-macrs)
  • Solar Renewable Energy Credits (SRECs) – This is the Illinois state incentive that gives solar system owners a cash rebate worth 20 to 25% of a solar PV system. (https://energy.gov/savings/solar-renewable-energy-credits-0)
  • Business Energy Investment Tax Credit (ITC) – This Federal tax credit of 30% for businesses and residents is available through 2020 for qualified solar projects, but phases out starting in 2020 down to 10% for businesses and zero for residents. (https://seia.org/initiatives/solar-investment-tax-credit-itc & https://energy.gov/savings/business-energy-investment-tax-credit-itc)

Use the Database of State Incentives for Renewables & Efficiency (DSIRE®) to research the financial incentives available to you.

For More Information

Check out these resources in Illinois, the Midwest and beyond to learn more about opportunities in solar energy.

  • DSIRE® – Database of State Incentives for Renewables & Efficiency – free resource maintained by North Carolina University with information on thousands of policies and incentives for renewable energy and energy efficiency (http://www.dsireusa.org)
  • SEIA – Solar Energy Industries Association – national trade association for the U.S. solar industry (https://www.seia.org)
  • NABCEP – North American Board of Certified Energy Practitioners® – national certification organization for renewable energy professionals (http://www.nabcep.org/)
  • ELPC – Environmental Law & Policy Center – regional environmental organization focused on Midwest policy for clean air, water and transportation (http://elpc.org)
  • IBEW – International Brotherhood of Electrical Workers – union representing employees in the electrical and utilities industries (ibew.org)
  • ISEA – Illinois Solar Energy Association – non-profit organization that promotes solar and other forms of renewable energy through education and advocacy (illinoissolar.org)
  • MREA – Midwest Renewable Energy Association – offers one of the country’s top solar training programs and runs one of the largest grassroots sustainability events in the nation (www.midwestrenew.org)
  • WOW – Wind on the Wires – works to create new opportunities for renewables to participate in the energy marketplace in Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, North and South Dakota, and Wisconsin (https://windonthewires.org)

UPDATE: 30% Tariffs on Imported Solar Panels

The week after we recorded this podcast, the Trump administration imposed a tariff of 30% on imported solar panels. This will impact the $28 billion solar industry, which gets about 80% percent of its solar panel products from imports. The Solar Energy Industries Association (SEIA) predicted the tariffs would increase prices and cost approximately 23,000 US jobs. SEIA represents manufacturers as well as installers, sellers and others in the field.

When asked about the new tariff, Montague responded, “It’s bad news, but not fatal. It might kill 23,000 jobs out of 260,000 so just less than 10% of the industry. We’re fine in Illinois because we have SRECS, but it certainly throws a wet towel on the industry.”

Market Boldly 002 – Straight Talk with tED Magazine Publisher Scott Costa

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Market Boldly
Market Boldly
Market Boldly 002 - Straight Talk with tED Magazine Publisher Scott Costa
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TED Magazine Publisher Scott Costa and I talk frankly about:
• the importance of marketing regardless of the economy or political climate
• why you need to empower your creative people
• giving marketing people the tools and resources to do their jobs
• what we can learn from companies like Google and Apple
• who’s doing marketing well (shout out to Van Meter Inc. and Summit Electric Supply)
• why Scott is already thinking about 2026
• advice for marketing professionals in the trenches (not the marketing director or VP)
• how the demographics of decision-makers are changing—and you must, too
• why we both love millennials and why you should listen to them
• (millennials) how to get your boss to listen to you
• why it’s time to up your game and market more boldly

Subscribe to Market Boldly on iTunes or Google Play Music. Please share this podcast with your friends and associates in manufacturing and distribution.

Market Boldly 001 – PR Talk with LEDVANCE’s Glen Gracia

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Market Boldly
Market Boldly
Market Boldly 001 - PR Talk with LEDVANCE's Glen Gracia
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In this episode, I talk with Glen Gracia, head of media relations at LEDVANCE (formerly OSRAM SYLVANIA) for the Americas including North, Central and South America. For about 15 years prior to joining SYLVANIA, Glen worked in several public relations agencies on accounts including HP, Compaq, Sony, IBM, 3M and McDonald’s. Glen and I discuss the role of PR in manufacturer and distributor marketing and how you can use public relations in your business.

Subscribe to Market Boldly on iTunes or Google Play Music. Please share this podcast with your friends and associates in manufacturing and distribution.

Are you missing marketing opportunities?

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By Katrina Olson

This article originally appeared on tedmag.com on April 22, 2016.

At last year’s NAED AdVenture marketing conference, a whopping 60 percent of attendees were female, and approximately 43 percent were under age 36.

Contrast that with the demographics of electrical contractors.

The average age of the electrical contractor is 56.2, according to Electrical Contractor magazine’s 2014 Profile of the Electrical Contractor. And you probably won’t be surprised to learn that women hold only one percent of all electrician jobs, according to 2009 Census data.

“How do I market to people who are very different from me?”

A good marketer gets to know their customers, inside and out—who they are, what keeps them up at night, and how they make decisions. By understanding customers’ concerns, buying habits, attitudes, preferences and behaviors, you’ll get a feel for what kinds of media and messages they’ll respond to. Along the way, you’ll also learn about trends in their businesses and industry.

“How do I learn more about my customers?”

Following are seven ways you can find out what makes your customers tick. Some are pretty easy; others are more involved. But all should yield valuable insights..

1. Read your customers’ trade publications.

Most industries have trade association and publications. Health Facilities Management, Facilities Manger, Facility Management Decisions, Electrical Contractor, and Buildings and Electrical Contractor are just a few.

2. Join online groups.

Is there a LinkedIn group or social media platform where your customers and prospects hang out? Observe without participating or commenting to learn what’s important to them.

3. Ask your salespeople.

If you can’t talk directly to customers, talk to those who do. Counter staff, inside sales, outside sales, and customer service representatives can give you insight into what your customers care about.

4. Attend company events.

Get out from behind your desk or computer and attend counter days, workshops, training sessions, and other opportunities to get to know your customers. Try to uncover your customers’ hot buttons and pain points.

5. Contact customers directly.

Call or email some of your key customers and ask specific questions—like how they want to learn about new products and services. Or take them out to lunch. Explain that you want to better understand their business so you can better serve them.

6. Conduct a short survey.

Curious about what media your customers are consuming? Want to know what social media platforms they’re using? Wondering how much they use their smartphones? Ask them!

7. Host a focus group or customer advisory council.

To get honest feedback about what your customers think, conduct a focus group or establish a customer advisory council that meets every year. Rotate members out every few years to get fresh perspectives. (To make sure you get candid comments, hire an outside facilitator and leave the room.)

How can I apply this knowledge to be a better marketer?

Here’s an example. The electrical contractor’s role is evolving as they become more heavily involved in design and specification. Also, building systems are becoming more integrated and interdependent, using data hubs that communicate with each other. All systems are tied together; so all the products must be compatible with each other.

As a result, electrical contractors may look to you for comprehensive solutions, not just individual products. Electrical contractors will also rely more heavily on the electrical distributor’s expertise to help them choose the right products for both new and existing systems.

This knowledge should change the way you position and brand your company, and the way your salespeople are trained, too. Instead of just selling and marketing products, you’re marketing your staff’s expertise and product knowledge.

The trick is putting yourself in your customer’s and prospect’s shoes. That means not just understanding their wants and needs—but speaking their language. That takes a little more practice. But the more research you do, the easier it gets.

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Olson is a marketing and public relations consultant, and principal of Katrina Olson Strategic Communications. She has written for tED magazine’s print edition since 2005, judged tED magazine’s Best of the Best Competition since 2006, and emceed the Best of the Best Awards ceremony for a total of seven years. She can be reached at Katrina@katrinaolson.com or via her website at katrinaolson.com

Today I’m working on an article for the April issue of tED Magazine about marketing strategies and tactics. And I wondered…how many companies actually have a written marketing plan? Large companies develop marketing plans as matter of practice. And some smaller companies may—especially if they’ve applied for business loans. But what about the rest of us?

So I turned to the Small Business Administration website for answers and found this info from a study by Marketo:

  • Overall, just over one-third of companies don’t have a marketing plan.
  • Only 56% of small businesses (fewer than 50 employees) have one.
  • A whopping 81% of companies with over 1,000 employees have one.

“We know what we’re doing…we don’t need a written plan, right?”

Wrong. You’re more likely to commit to and reach your goals when you have a documented marketing plan.

“I’m already implementing strategies and tactics that would be in that plan, so why waste time on planning?”

You may find that the process of researching and evaluating your markets; identifying your target customers; analyzing your competitors; and setting goals, objectives, strategies and tactics will yield some new ideas, new opportunities and new or different strategies and tactics.

Depending on your situation and goals, you may want to consider:

  • Marketing automation—sending automatic emails triggered by specific customer actions like website or purchase behaviors
  • Content marketing—writing and promoting blogs, LinkedIn posts, website articles, news and updates
  • Digital advertising—reaching your customers online where they spend their time (e.g. Houzz, Facebook)
  • Public relations—participating in or creating community programs; using publicity to get attention for your most interesting products
  • Video—demonstrating new or complex products or equipment; showing how to solve problems using your product.
  • Printed marketing pieces—outlining or clarifying a specific process; showcasing a new area of products or expertise (e.g. LED, solar, EV charging stations)
  • Revisiting your website—updating it visually, improving functionality, enhancing navigation. (When was the last time you critically evaluated your website?)

“Yeah, we should probably do some of those things.”

Maybe you should maybe you shouldn’t; but you won’t know without working through the marketing planning process. And remember, what’s right for your competitors may not be right for you. And you may be missing opportunities, or worse yet, your competitors may be taking advantage of them!

Sometimes it helps to have an outsider’s perspective. Let me know if you want input on your marketing plan. We can set up a workday (or two), or you can retain my services to review your existing plan. I’m flexible. I just want to help you unlock the those marketing opportunities and help you achieve your goals.

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Katrina Olson is a marketing and public relations consultant, freelance writer, content developer, trainer/coach, former college professor, and principal of Katrina Olson Strategic Communications. She can be reached at katrina@katrinaolson.com or via her website at katrinaolson.com.

What will you do differently next year?

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As January 31 approaches, think about what you’ll do better or differently in 2016. Aside from (re)commitments to eat healthier, travel more, learn a new language, or go skydiving, you’re probably hoping to become a better marketer.

Since this will be my first year (in a while) as a full-time writer, consultant and trainer, most of my professional goals are about building relationships. But I’ll share a few others—two are always on my list regardless of my job or position, and one is related to my new career status.

1. Make education a priority.

I plan to actually attend some of those free webinars offered by MarketingProfs, American Marketing Association, Cision, Marketo, HubSpot, LinkedIn, NetBase and others. (I usually register and don’t attend.) I might even take an online class, read a few more books, or send my self to a workshop.

2. Step outside my comfort zone.

I love writing, creating, teaching, coaching, planning, strategy and other “word-related” things. But I’m not as excited about numbers. I have worked with Google Analytics, but it’s not fun for me. So this year a plan to push through and learn more about web analytics and other “number-related” things.

3. Redefine my brand.

I’m working with a residential and transitional treatment facility for severely emotionally disturbed youth that is now offering counseling services externally to community youth. Although they could help children any behavior related challenges, they’re best at helping kids with severe issues. That’s where they can make the greatest impact. Similarly, I can perform a number of marketing related services, but what am I best at? This is how I will redefine my brand.

What are your goals for 2016?

Will you step up your social media game? Learn a new skill? Hire a much-needed marketing team member? Set the bar a little higher in terms of marketing creativity and execution? Develop a full-blown digital media strategy?

Whatever it is, don’t think you have to do it all at once. Ten years ago when I started teaching, I had no formal training in social media. (Who did?) I thought, “If I’m teaching advertising, PR and writing, I need to know this!” So I exposed myself to social media, little by little. I read articles, watched YouTube videos, and attended webinars and workshops.

You can use a similar approach when taking on a big project or learning a new skill. If you want to be a better writer, start by reading Eats Shoots & Leaves by Lynne Truss. It’s educational, fun and an easy read. Next, subscribe to the podcast, Grammar Girl Quick & Dirty Tips for Better Writing. (It’s free!) Or sign up for Ragan.com’s PR Daily, which often includes short articles on writing.

Attend a webinar or workshop, or hire a writing coach or editor—whatever you’re comfortable with. Start small and work your way up to bigger steps. After all, making small, gradual progress is better than making no progress.

You can also start by breaking those big projects into smaller steps. When I decide to paint a room (which I dread), I’ll spend weeks mulling over color choices and looking at rooms on Houzz.com. Next I pick up paint chips and swatches. After choosing a color, I buy paint and supplies. Days or weeks may pass before I actually start preparing the room—cleaning, moving furniture and taping (before I learned to “cut in” with a brush). Now I’m ready to paint and it’s not as daunting because I’ve already done so much of the work.

Whatever you want to accomplish this year, don’t let procrastination or intimidation stop you. Take a baby step or two…soon you’ll be on your way to achieving your goal!

Good luck and I wish you a productive, fun and prosperous new year!