One of the biggest challenges for agencies is to differentiate themselves as an authority in a certain area. Blogging and Twitter can be helpful in this area, but for my money a well-written white paper tops them all for effectiveness.
A white paper can generate awareness about a product, service or organization, and is especially valuable as it is often read while in the evaluation stage for a new purchase. During the past decade we have seen an explosion of business white papers as B2B marketing and sales tools, but surprisingly, many ad agencies have failed to take advantage of white papers as a marketing tool.
White papers can be used in several ways by ad agencies:
As an awareness and lead-generation tool for new business;
As a thought-leadership and CRM tool for current clients;
As a training tool for employees and clients.
Why should your agency use white papers? That's simple, they work.
Several studies have documented the importance of white papers in evaluation and decision-making. A study by MarketingSherpa on technology marketing reported that 44% of respondents said they like reviewing white papers. Even more importantly, 70% said they visited the vendor website and 45% contacted the vendor for further information.
According to Information Week, 93% of white papers are passed on to at least one other reader and 86% say they are moderately or highly influential. Case studies have reported that white papers can significantly outperform banner ads and email as a lead generation tool for many businesses.
White papers can establish your agency as a thought-leader.
White papers provide a platform for an agency to demonstrate their expertise and the quality of their thinking. Whether the topic is general (e.g. branding strategies), industry-specific (e.g. trends in healthcare marketing), or topic-specific (e.g. how to use social media), a well-written white paper can establish your agency as an authority on the subject. Importantly, studies have shown that executives read white papers, so a white paper can be that foot-in-the-door that you've been trying to establish but can't seem to get past the voicemail and spam blocker screens.
Some of the more popular ways to use white papers are:
Discuss trends (can establish the need for a change from the reader).
Identify problems (can build a rapport and affinity with the reader).
Provide solutions (can confirm your expertise, but must be seen as objective and not a sales message to have credibility with the reader).
Suggest what to look for (can also confirm your expertise, but again must not be seen as an overt sales message).
A good white paper must be reader-focused, not self-focused.
It is critically important to write white papers from an objective viewpoint so that they are seen as educational, not sales-focused. Too many marketers make the mistake of treating their white paper as a multi-page text ad for their product or service. That approach is a recipe for disaster. And rejection.
A well-written white paper becomes persuasive when the reader is presented with facts and charts to support the writer's viewpoint and avoids any claims about the company or its products and services.
Michael Stelzner (http://www.whitepapersource.com/) , seen by many as
the foremost authority on writing white papers, gave this illustration
of a reader-focused vs. a self-focused white paper in a recent webinar:
Self-Focused: Groundbreaking TechWidget by XYZ Company Solves Time
Management Dilemma.
Reader-Focused: Solving the Time Management Dilemma with Technology.
A white paper can drive traffic to an agency's website for more information (or more confirmation of the agency's expertise).
A white paper can carry more authority than other agency marketing collateral. It is important to remember that a white paper can carry a cachet of authenticity that other marketing collateral for your agency doesn't possess. To some readers, there is a perception (rightly or wrongly) that white papers are completely objective and factual, almost like a scientific paper that has been peer-reviewed. So be careful that you don't mis-use or abuse the white paper as a marketing tool.
But it can, and should, be used by more agencies.
Showing posts with label blog. Show all posts
Showing posts with label blog. Show all posts
Thursday, February 21, 2013
Monday, July 26, 2010
To Blog Or Not Blog Is Not The Right Question
If an agency is going to offer legitimate advice to their clients on how to grow their business, social media must be a topic. So with humblest apologies to the Bard for my play on Hamlet's famous words, let's talk about the real questions your clients should be asking before they launch a corporate blog or upload a video to YouTube, or whatever social media they may think they want to use. Even if your clients are already using social media, it's not a bad idea to help them stop, take a deep breath, and really think through what they want to accomplish with the new digital marketing tools that are available.
Here are the real questions that should be asked when considering social media:
1. What is the goal for social media?
It is certainly logical to start with the big picture, but you would be surprised at how many companies say "let's start a blog" without a clear understanding and articulation of its value for their company and its role in an integrated communications plan. As with almost every new technology advancement, there are risks for companies that jump in without understanding what they are getting into.
If your clients are already using or considering how to use new technologies like blogs, podcasts, online video, wikis, widgets, etc. they need to make sure they know what they want to accomplish or they may end up using the wrong tool.
2. Who do they want/need to reach? Can social media reach that audience?
Technology has added a new dimension to analyzing and defining the optimum target audience. In addition to understanding their demographics and their psychographics, we also need to factor their technographics into the evaluation. How comfortable are target prospects with using the new technology tools? Do they have broadband access on their home computer if that's where they want to reach them? What new technology tools are target audience members currently using? How would they prefer to interact with the company?
Good marketing still requires the basics of understanding the target audience and the benefits their company (and your agency) can deliver.
3. What are the best strategies and tactics to reach this target?
This is a critical question that must be answered in order to optimize ROI. Notice that I used the plural "strategies and tactics", not the singular. In most cases, they should be considering multiple social vehicles, but before they jump in they should make sure they've mastered one vehicle before launching another. I believe that many companies that are failing or disillusioned with social media are simply trying to do too much at one time. They've launched a blog, added a Facebook page and Twitter account, are trying to monitor and evaluate, etc. with limited resources or without a realistic understanding and appreciation for the time and effort it takes to mount a successful program.
You should show them how to take advantage of the many free reports and white papers on social media for guidance on who's doing what. For example, in a recent post I referenced a new study from Hubspot that concluded that Facebook is more popular for a B2C company, while LinkedIn is used by more B2B companies. And, there are numerous case studies that show the effectiveness of Twitter for business.
Internet search can help you gain better understanding of the best strategies and tactics to consider for your client's social media program. Just type "social media research" into your search engine and see how many hits you get!
4. What resources are available and what do they need in order to implement an effective, on-going program.
Contrary to popular belief among many companies, social media is not a free alternative to traditional media, and you can do your clients a favor by making sure they understand this. It takes time, money and patience to use social media effectively, and these soft costs may not be as apparent and visible (especially to upper management) as a line item for the advertising budget. Too many companies jump into social media without understanding how much it really costs. There are many tools to help post on multiple sites and to monitor efforts and responses, but it will still require time on some one's part.
And it will require someone who understands the company and the audience, as every social media "expert" will tell you that content is king. So if your client thinks they can just hand it off to that recent college graduate who is more comfortable with technology than some of the older staff, you should advise your clients to make sure they not only understand the technology, but also know how to write well and can represent your company brand.
There are many other questions that come up along the way, but these are the basics for anyone who is considering starting or expanding their social media effort. And if your clients have been using social media for awhile, it never hurts to show them that you understand the importance of social media by recommending that they stop, take a deep breath, and analyze what they've been doing based on these questions.
Whatever your clients do, don’t let them make the mistake of putting the cart before the horse, as my dad used to say. Help them to know the basics of who they need to reach and what they want to accomplish before deciding which new technology to explore. Good marketing still requires good marketing, just like being an advisor to your clients on more than income-generating advertising can build relationships.
Here are the real questions that should be asked when considering social media:
1. What is the goal for social media?
It is certainly logical to start with the big picture, but you would be surprised at how many companies say "let's start a blog" without a clear understanding and articulation of its value for their company and its role in an integrated communications plan. As with almost every new technology advancement, there are risks for companies that jump in without understanding what they are getting into.
If your clients are already using or considering how to use new technologies like blogs, podcasts, online video, wikis, widgets, etc. they need to make sure they know what they want to accomplish or they may end up using the wrong tool.
2. Who do they want/need to reach? Can social media reach that audience?
Technology has added a new dimension to analyzing and defining the optimum target audience. In addition to understanding their demographics and their psychographics, we also need to factor their technographics into the evaluation. How comfortable are target prospects with using the new technology tools? Do they have broadband access on their home computer if that's where they want to reach them? What new technology tools are target audience members currently using? How would they prefer to interact with the company?
Good marketing still requires the basics of understanding the target audience and the benefits their company (and your agency) can deliver.
3. What are the best strategies and tactics to reach this target?
This is a critical question that must be answered in order to optimize ROI. Notice that I used the plural "strategies and tactics", not the singular. In most cases, they should be considering multiple social vehicles, but before they jump in they should make sure they've mastered one vehicle before launching another. I believe that many companies that are failing or disillusioned with social media are simply trying to do too much at one time. They've launched a blog, added a Facebook page and Twitter account, are trying to monitor and evaluate, etc. with limited resources or without a realistic understanding and appreciation for the time and effort it takes to mount a successful program.
You should show them how to take advantage of the many free reports and white papers on social media for guidance on who's doing what. For example, in a recent post I referenced a new study from Hubspot that concluded that Facebook is more popular for a B2C company, while LinkedIn is used by more B2B companies. And, there are numerous case studies that show the effectiveness of Twitter for business.
Internet search can help you gain better understanding of the best strategies and tactics to consider for your client's social media program. Just type "social media research" into your search engine and see how many hits you get!
4. What resources are available and what do they need in order to implement an effective, on-going program.
Contrary to popular belief among many companies, social media is not a free alternative to traditional media, and you can do your clients a favor by making sure they understand this. It takes time, money and patience to use social media effectively, and these soft costs may not be as apparent and visible (especially to upper management) as a line item for the advertising budget. Too many companies jump into social media without understanding how much it really costs. There are many tools to help post on multiple sites and to monitor efforts and responses, but it will still require time on some one's part.
And it will require someone who understands the company and the audience, as every social media "expert" will tell you that content is king. So if your client thinks they can just hand it off to that recent college graduate who is more comfortable with technology than some of the older staff, you should advise your clients to make sure they not only understand the technology, but also know how to write well and can represent your company brand.
There are many other questions that come up along the way, but these are the basics for anyone who is considering starting or expanding their social media effort. And if your clients have been using social media for awhile, it never hurts to show them that you understand the importance of social media by recommending that they stop, take a deep breath, and analyze what they've been doing based on these questions.
Whatever your clients do, don’t let them make the mistake of putting the cart before the horse, as my dad used to say. Help them to know the basics of who they need to reach and what they want to accomplish before deciding which new technology to explore. Good marketing still requires good marketing, just like being an advisor to your clients on more than income-generating advertising can build relationships.
Monday, July 19, 2010
What's Hot and What's Not in Social Media
Everyone's talking about social media today. How do I use it? How do I measure the ROI? Etc. Etc.
I've written more than one post about the importance of helping clients to navigate these new waters, and have had mixed reaction from my readers. The most common objection stems from the question of "why should an agency promote an area that doesn't represent a defined revenue stream". My answer to that argument is that if your agency doesn't find a way to help your clients understand these new tools, then another agency will. Agencies can do their clients a great favor by helping them to figure out if social media can help to grow their business. Here are some thoughts on how to do this.
I recently came across a report on The State of Inbound Marketing, published by Hubspot in February, 2010. The primary focus of the report is on the growing importance of inbound marketing tools for lead generation, including blogging, content publishing, search engine optimization, social media and social networks.
While I'm not in agreement with their self-serving conclusion that traditional outbound channels like direct mail, telemarketing and trade shows have become "less effective over time as buyers have behaviorally and technologically (e.g. TIVO, spam filters, "do-not-call" lists) tuned these interruptive campaigns out", no one can deny the growing power and impact of inbound tools, especially social media. Many businesses are aggressively changing their lead generation marketing efforts to explore and add programs that allow customers to find them.
Marketers who are actively engaged in, or actively exploring, social media can find many interesting conclusions in this study to help them plan their own approach. Here are a few that I found interesting and enlightening:
1. Company blogs are the fastest growing and continue to be deemed the most important lead generation service for their business, with 85% of users rating blogs as critical, important or useful. Almost half of the companies using blogs (46%) have acquired a customer from a blog-generated lead, the highest for any social media channel.
2. Twitter was ranked as the second most effective inbound tool for lead generation with 71% of users rating it as "useful or better". This was almost double the 39% of positive users in the 2009 study, and reinforces the belief by many "committed business Tweeters" that when Twitter is used properly, it can be a valuable addition to a marketer's toolkit.
3. Facebook ranked third in importance with 61% of users touting its importance, barely edging out LinkedIn, which had ranked third in the 2009 study. An interesting side note to this conclusion is that Facebook has been more effective in customer acquisition for B2C businesses and LinkedIn more effective for acquiring B2B customers.
4. Other reported inbound tools - StumbleUpon, Digg and MySpace - all declined in usage and perceived importance. MySpace has virtually fallen off the radar as a lead generation tool with only 10& of users rating the site as "useful" or better.
There are other interesting facts and conclusions in this report relating to cost per lead, lead generation budget allocations by category and company size, the importance of blog frequency, etc. You can download the full report and other useful information at www.hubspot.com/marketing-resources.
Whether you use this report, and other input, to help your clients undertand and utilize social media is up to you. If it were my agency, I would find a way.
I've written more than one post about the importance of helping clients to navigate these new waters, and have had mixed reaction from my readers. The most common objection stems from the question of "why should an agency promote an area that doesn't represent a defined revenue stream". My answer to that argument is that if your agency doesn't find a way to help your clients understand these new tools, then another agency will. Agencies can do their clients a great favor by helping them to figure out if social media can help to grow their business. Here are some thoughts on how to do this.
I recently came across a report on The State of Inbound Marketing, published by Hubspot in February, 2010. The primary focus of the report is on the growing importance of inbound marketing tools for lead generation, including blogging, content publishing, search engine optimization, social media and social networks.
While I'm not in agreement with their self-serving conclusion that traditional outbound channels like direct mail, telemarketing and trade shows have become "less effective over time as buyers have behaviorally and technologically (e.g. TIVO, spam filters, "do-not-call" lists) tuned these interruptive campaigns out", no one can deny the growing power and impact of inbound tools, especially social media. Many businesses are aggressively changing their lead generation marketing efforts to explore and add programs that allow customers to find them.
Marketers who are actively engaged in, or actively exploring, social media can find many interesting conclusions in this study to help them plan their own approach. Here are a few that I found interesting and enlightening:
1. Company blogs are the fastest growing and continue to be deemed the most important lead generation service for their business, with 85% of users rating blogs as critical, important or useful. Almost half of the companies using blogs (46%) have acquired a customer from a blog-generated lead, the highest for any social media channel.
2. Twitter was ranked as the second most effective inbound tool for lead generation with 71% of users rating it as "useful or better". This was almost double the 39% of positive users in the 2009 study, and reinforces the belief by many "committed business Tweeters" that when Twitter is used properly, it can be a valuable addition to a marketer's toolkit.
3. Facebook ranked third in importance with 61% of users touting its importance, barely edging out LinkedIn, which had ranked third in the 2009 study. An interesting side note to this conclusion is that Facebook has been more effective in customer acquisition for B2C businesses and LinkedIn more effective for acquiring B2B customers.
4. Other reported inbound tools - StumbleUpon, Digg and MySpace - all declined in usage and perceived importance. MySpace has virtually fallen off the radar as a lead generation tool with only 10& of users rating the site as "useful" or better.
There are other interesting facts and conclusions in this report relating to cost per lead, lead generation budget allocations by category and company size, the importance of blog frequency, etc. You can download the full report and other useful information at www.hubspot.com/marketing-resources.
Whether you use this report, and other input, to help your clients undertand and utilize social media is up to you. If it were my agency, I would find a way.
Tuesday, January 12, 2010
Move Beyond Cold Calling If You Want to Grow Your Business
Cold calling as a primary outbound marketing tool just doesn't work for ad agencies. Never has, never will. Yet I still run into agency principals who think that blanketing selected targets and industries with sales brochures and unsolicited telephone calls or emails is the best way to grow their business.
The latest edition of Marketing News from the American Marketing Association has an interesting case study on how a small Indiana service provider doubled their revenue last year through web-based marketing in lieu of cold calling. Here's what they did, and what any b-to-b service provider can do to grow their business.
The first step was a redesign of their web site to move it from a brochure site touting their background and experience to an interactive experience that walks potential customers through the steps of deciding if they need their service to why they should choose their firm. Along the way, they adopted several best practices to simplify the navigation and reduce copy to add more graphics. They rewrote copy using direction from Google Adwords and adopted some other simple SEO principles to re-write title tags and add keywords to their code.
The next step was to launch a blog to feature their knowledge experts' insights on topics of interest to their key audiences. They used SEO tactics to ensure that blog posts ranked high for searches related to their content matter, added a link to the blog to the company's web site and shared blog posts with LinkedIn groups. According to their marketing director, tracking analysis found that LinkedIn was particularly effective in driving traffic to their blog which in turn led to more attention to the company's web site.
Although they did not use Twitter, I believe that tweeting with a link to the blog post is another way to effectively drive traffic to your blog and ultimately to your site.
They extended the company's thought leadership profile by expanding selected blog posts into magazine articles, white papers.and presentations that led to conference speaking engagements based on their demonstrated credibility and subject matter expertise. They also began a concerted effort to establish strategic partnerships with complementary service providers.
The combination of web-based marketing efforts and new partnerships has led to a "snowball effect" according to their marketing director. Traffic to their web site jumped from an average of 10 to 15 visits per week to 1,500 to 2,000 visits per week.
Prior to launching this intensive web marketing program, nearly 80% of their new business came from cold calls and traditional outbound selling. This year, more than 80% of new business has come web driven initiatives and revenues have doubled.
These changes weren't rocket science. And they weren't particularly expensive. What they did is take advantage of an integrated marketing effort to allow prospects to move through a decision thought process before they even talked. That led to a much more cost effective way to invest their time and efforts to grow their customer base. Is it time to rethink your business development strategy?
The latest edition of Marketing News from the American Marketing Association has an interesting case study on how a small Indiana service provider doubled their revenue last year through web-based marketing in lieu of cold calling. Here's what they did, and what any b-to-b service provider can do to grow their business.
The first step was a redesign of their web site to move it from a brochure site touting their background and experience to an interactive experience that walks potential customers through the steps of deciding if they need their service to why they should choose their firm. Along the way, they adopted several best practices to simplify the navigation and reduce copy to add more graphics. They rewrote copy using direction from Google Adwords and adopted some other simple SEO principles to re-write title tags and add keywords to their code.
The next step was to launch a blog to feature their knowledge experts' insights on topics of interest to their key audiences. They used SEO tactics to ensure that blog posts ranked high for searches related to their content matter, added a link to the blog to the company's web site and shared blog posts with LinkedIn groups. According to their marketing director, tracking analysis found that LinkedIn was particularly effective in driving traffic to their blog which in turn led to more attention to the company's web site.
Although they did not use Twitter, I believe that tweeting with a link to the blog post is another way to effectively drive traffic to your blog and ultimately to your site.
They extended the company's thought leadership profile by expanding selected blog posts into magazine articles, white papers.and presentations that led to conference speaking engagements based on their demonstrated credibility and subject matter expertise. They also began a concerted effort to establish strategic partnerships with complementary service providers.
The combination of web-based marketing efforts and new partnerships has led to a "snowball effect" according to their marketing director. Traffic to their web site jumped from an average of 10 to 15 visits per week to 1,500 to 2,000 visits per week.
Prior to launching this intensive web marketing program, nearly 80% of their new business came from cold calls and traditional outbound selling. This year, more than 80% of new business has come web driven initiatives and revenues have doubled.
These changes weren't rocket science. And they weren't particularly expensive. What they did is take advantage of an integrated marketing effort to allow prospects to move through a decision thought process before they even talked. That led to a much more cost effective way to invest their time and efforts to grow their customer base. Is it time to rethink your business development strategy?
Monday, September 28, 2009
An Interesting Story on the Power of Twitter
Since my last post on using Twitter as a business development tool, I've had several emails from friends who continue to question the staying power of Twitter. They argue that Twitter is a short term phenomenon with limited value for marketers and one that will fade out quickly.
Well, I can't say how long Twitter will be "the next big thing", but I can tell you that today, it is a very big thing. With over 32 million users -- up 700% over the past year according to eMarketer -- Twitter is a legitimate social networking tool that reaches a lot of people in a short period of time. The power and potential of this new communication tool was reinforced last week when I heard a presentation on Twitter and Social Media from Warren Sukernek, Director of Content at Radian 6.
Warren related his own personal story about the power of Twitter and how it helped him to land a new job. Last December, Warren was laid off. He had been actively engaged with Twitter for some time, so he sent this tweet
Friends, I've just been laid off. As a digital strategist, I would appreciate any leads or opportunities that you would be aware of. THX.
That afternoon, he got 250 responses that resulted in 20 interviews and 4 job offers. ALL IN 3 WEEKS FROM JUST ONE TWEET.
Warren's incredible story was featured locally on KING-5 TV, and later picked up by Fortune, The New York Post, The Wall Street Journal and several websites. His story is a reinforcement to me of the power of social networking.
Warren's presentation was an inside look at how to use Twitter as part of a total Social Media Toolbox to build your personal or company brand and to gain awareness and credibility among a wide audience. But he cautioned everyone that "you can't just join Twitter and tweet. You've got to build a network before you need it".
Warren's story is just one of many social networking success stories. That's why I've become an advocate of using Twitter as part of your business development strategy. You should be extending your reach, building your credibility, connecting with thought-leaders, sharing content and engaging in the conversation through blogs, white papers, and Twitter. Whether Twitter is long term isn't relevant. It can be a powerhouse today.
I encourage you to view Warren's presentation on SlideShare at http://tinyurl.com/yezlecg. You'll get a lot of good ideas on how to get more value out of social media tools. And maybe, just maybe, a new way to build business for your agency.
Well, I can't say how long Twitter will be "the next big thing", but I can tell you that today, it is a very big thing. With over 32 million users -- up 700% over the past year according to eMarketer -- Twitter is a legitimate social networking tool that reaches a lot of people in a short period of time. The power and potential of this new communication tool was reinforced last week when I heard a presentation on Twitter and Social Media from Warren Sukernek, Director of Content at Radian 6.
Warren related his own personal story about the power of Twitter and how it helped him to land a new job. Last December, Warren was laid off. He had been actively engaged with Twitter for some time, so he sent this tweet
Friends, I've just been laid off. As a digital strategist, I would appreciate any leads or opportunities that you would be aware of. THX.
That afternoon, he got 250 responses that resulted in 20 interviews and 4 job offers. ALL IN 3 WEEKS FROM JUST ONE TWEET.
Warren's incredible story was featured locally on KING-5 TV, and later picked up by Fortune, The New York Post, The Wall Street Journal and several websites. His story is a reinforcement to me of the power of social networking.
Warren's presentation was an inside look at how to use Twitter as part of a total Social Media Toolbox to build your personal or company brand and to gain awareness and credibility among a wide audience. But he cautioned everyone that "you can't just join Twitter and tweet. You've got to build a network before you need it".
Warren's story is just one of many social networking success stories. That's why I've become an advocate of using Twitter as part of your business development strategy. You should be extending your reach, building your credibility, connecting with thought-leaders, sharing content and engaging in the conversation through blogs, white papers, and Twitter. Whether Twitter is long term isn't relevant. It can be a powerhouse today.
I encourage you to view Warren's presentation on SlideShare at http://tinyurl.com/yezlecg. You'll get a lot of good ideas on how to get more value out of social media tools. And maybe, just maybe, a new way to build business for your agency.
Tuesday, July 21, 2009
Social Media Is Not the Solution for Every Business Situation
Despite the media hoopla surrounding Twitter, Facebook, LinkedIn and other social networking options these days, social media is not the solution for every one and every business situation. That fact is very eloquently expressed in today's Ad Age Digital by Judy Shapiro's excellent post "Not Every CEO Needs to Be a Social Media Star". Read the full article at http://tinyurl.com/m47tut.
Ms. Shapiro addressed the recent media headlines that denounced Fortune 100 CEO's as "social media slackers" based on their low participation on Twitter, Facebook, and personal blogs. She, in turn, chastises the media for their lack of understanding and empathy with the tasks and responsibilities of a senior executive with a major corporation. Her article points out that CEO participation in social media is "fraught with practical, business and strategic risks".
Many CEO's don't have the luxury of being able to express their personal opinions or expose their personal lives for practical as well as business reasons. If a CEO mentions that he particularly likes or dislikes a company or product, his statements can be misinterpreted by the business community or the blogosphere as stock manipulation. In 2007, there was a major web scandal when the CEO of Whole Foods Markets wrote anonymous blog posts about Wild Oats Markets in an effort to drive down their stock price before buying the company.
Fastlane, a blog by General Motors CEO, Bob Lutz, has been lauded by the press as a great example of social media from a major company (I suppose we can still call GM a major company). But the truth is that most of the Fastlane posts that I read are nothing more than a disguised advertisement for their cars.
There is also the practical side to using social media that CEO's must consider. To effectively use social media as a business tool requires time and commitment. Anyone who has run a company knows that time is a valuable commodity that must be carefully monitored and utilized. As Ms. Shapiro points out "not every communication challenge is a nail to be whacked by the social media hammer".
So how does this relate to new business development? Simply put, don't try to apply a social media solution to every new business selling opportunity. As I have said in previous posts, social media can be a valuable new business tool for ad agencies. And social media can be valuable as a topic for starting a discussion with prospects, since many clients are overwhelmed by the fast pace of change and need help in deciphering how to employ social media as a marketing tool.
But social media is not the solution for every business situation. And I'm willing to bet there are CEO's who would appreciate your empathy and understanding of their reluctance to use social media tools.
Use social media as part of your new business arsenal, but use it wisely!
Ms. Shapiro addressed the recent media headlines that denounced Fortune 100 CEO's as "social media slackers" based on their low participation on Twitter, Facebook, and personal blogs. She, in turn, chastises the media for their lack of understanding and empathy with the tasks and responsibilities of a senior executive with a major corporation. Her article points out that CEO participation in social media is "fraught with practical, business and strategic risks".
Many CEO's don't have the luxury of being able to express their personal opinions or expose their personal lives for practical as well as business reasons. If a CEO mentions that he particularly likes or dislikes a company or product, his statements can be misinterpreted by the business community or the blogosphere as stock manipulation. In 2007, there was a major web scandal when the CEO of Whole Foods Markets wrote anonymous blog posts about Wild Oats Markets in an effort to drive down their stock price before buying the company.
Fastlane, a blog by General Motors CEO, Bob Lutz, has been lauded by the press as a great example of social media from a major company (I suppose we can still call GM a major company). But the truth is that most of the Fastlane posts that I read are nothing more than a disguised advertisement for their cars.
There is also the practical side to using social media that CEO's must consider. To effectively use social media as a business tool requires time and commitment. Anyone who has run a company knows that time is a valuable commodity that must be carefully monitored and utilized. As Ms. Shapiro points out "not every communication challenge is a nail to be whacked by the social media hammer".
So how does this relate to new business development? Simply put, don't try to apply a social media solution to every new business selling opportunity. As I have said in previous posts, social media can be a valuable new business tool for ad agencies. And social media can be valuable as a topic for starting a discussion with prospects, since many clients are overwhelmed by the fast pace of change and need help in deciphering how to employ social media as a marketing tool.
But social media is not the solution for every business situation. And I'm willing to bet there are CEO's who would appreciate your empathy and understanding of their reluctance to use social media tools.
Use social media as part of your new business arsenal, but use it wisely!
Wednesday, May 14, 2008
Keep New Technology Tools in Perspective
There can be no doubt that new social marketing technology can change every element of the marketing mix. But before you launch your corporate blog or upload that video to YouTube, you need to stop, take a deep breath, and really think through what you want to accomplish with the new marketing tools that are available.
As with almost every new technology advancement, there are risks for companies that jump in without understanding what they are getting into. Good marketing still requires the basics of understanding your target audience and the benefits you can deliver. If you are considering how to use new technologies like blogs, podcasts, online video, wikis, widgets, etc. you need to make sure you know what you want to accomplish or you may end up using the wrong tool.
I really like the POST acronym that Forrester Research has been touting . POST stands for people, objectives, strategy and technology.
More than ever before, new marketing technology requires that you understand the people (target audience) that you want to reach. For the first time in modern marketing, you can truly direct your message to the group of people that are most interested and most likely to buy your product or service. And, you can minimize your waste circulation.
Technology has added a new dimension to analyzing and defining the optimum target audience. In addition to understanding their demographics and their psychographics, we also need to factor their technographics into the evalution. How comfortable are they with using the new technology tools? Do they have broaddband access on their home computer? What new technology tools are they currently using? How would they prefer to interact with your company?
Thinking about POST again, after people you should identify the objectives you want to accomplish, and the way you need to engage your customers in order to build a relationship -- strategy. It is only after you have identified these three key elements that you should begin to discuss and evaluate what technology you should use?
Be sure you think POST before you get too far along. Don’t make the mistake of putting the cart before the horse, as my dad used to say. Know the basics of who you need to reach and what you want to accomplish before you decide which new technology to explore. Good marketing still requires good marketing.
As with almost every new technology advancement, there are risks for companies that jump in without understanding what they are getting into. Good marketing still requires the basics of understanding your target audience and the benefits you can deliver. If you are considering how to use new technologies like blogs, podcasts, online video, wikis, widgets, etc. you need to make sure you know what you want to accomplish or you may end up using the wrong tool.
I really like the POST acronym that Forrester Research has been touting . POST stands for people, objectives, strategy and technology.
More than ever before, new marketing technology requires that you understand the people (target audience) that you want to reach. For the first time in modern marketing, you can truly direct your message to the group of people that are most interested and most likely to buy your product or service. And, you can minimize your waste circulation.
Technology has added a new dimension to analyzing and defining the optimum target audience. In addition to understanding their demographics and their psychographics, we also need to factor their technographics into the evalution. How comfortable are they with using the new technology tools? Do they have broaddband access on their home computer? What new technology tools are they currently using? How would they prefer to interact with your company?
Thinking about POST again, after people you should identify the objectives you want to accomplish, and the way you need to engage your customers in order to build a relationship -- strategy. It is only after you have identified these three key elements that you should begin to discuss and evaluate what technology you should use?
Be sure you think POST before you get too far along. Don’t make the mistake of putting the cart before the horse, as my dad used to say. Know the basics of who you need to reach and what you want to accomplish before you decide which new technology to explore. Good marketing still requires good marketing.
Wednesday, August 29, 2007
Looking Ahead: How the Changing Social Landscape is Affecting Marketing
We know that technology continues to encroach on every aspect of modern life. Innovations like Bluetooth, social marketing, blogs and mobile marketing are no longer just being used by the young technorati; they are being used by almost everyone, regardless of age and technology comfort and are rapidly becoming a part of the mainstream of American life. The Blackberry is an essential business tool, regardless of your age. Snapfish allows me to share photos of my children and grandchildren with my 80+ year old mother in Tennessee. The recent iPhone introduction is another example of the mass appeal that new technology can generate.
Perhaps just as important for marketers is to recognize that changing social behaviors, attitudes and mores are also affecting marketing. Here are ten things I believe will have major impact on how we market in the future.
1. Corporate greed is not good. In a world of increasing corporate transparency, consumers will reject companies and their products if they do not live up to proper ethical standards. Marketers need to examine every aspect of their business, not just the boardroom. Not every brand is as strong as Nike, and able to withstand the negative publicity of child labor exploitation.
2. In a multiple-choice world, you must differentiate or die. Jack Trout was right on target when he said that in today’s ultra-competitive world there are so many choices that companies will be hard pressed to survive without a point of difference. The average supermarket has over 45,000 branded items. There are now over 3,000 brands of bottled water. Huh?
3. To blog or not to blog, that is the question. Social networking is a fact that cannot be ignored. But companies must be careful when using tools like blogs, vlogs and Podcasts or face the wrath of a networked audience that can love you one minute and hate you the next. Some forward-thinking companies have created a new executive position of Blog Monitor to be able to respond quickly to new issues as they arise, or to correct misinformation that can damage a company unfairly.
4. “Word of mouth” can no longer be a happenstance event but rather an important part of an integrated marketing program. In today’s world, “word of mouth” can travel around the world instantly via the web. Viral marketing efforts like the Subservient Chicken and Lonelygirl15 have gotten millions of exposures for little to no cost. Social marketing and Web 2.0 will impact your business, whether you want it to or not. The next wave of “word of mouth” will be user-generated reviews of everything from restaurants to shopping to hair salons. One disappointing entrée or a surly waiter has the potential to ruin a restaurant’s reputation. Is that scary, or what?
5. Video messaging still rules, it’s just the delivery methods that are changing. Everything we learned in marketing class about sight, sound and motion still holds true. It is unquestionably the most powerful way to inform and persuade. But the continued fragmentation and decline in viewership of traditional television is being replaced by on-line video. We can’t all afford to back something as ambitious as Bud TV, but keep a close watch on YouTube as the next mass medium. Politicians have certainly jumped on that bandwagon. Are you one of the 2 million plus viewers of Obama Girl?
6. It’s not easy being green. Kermit was right. But if you aren’t looking for ways to include some form of green marketing or sustainability (the next great marketing buzzword), then you will be left behind, choking on ethanol exhaust fumes. Wal-Mart is touting itself as the world's largest buyer of organic cotton, fair trade coffee, and energy-efficient light bulbs. Companies across America are looking for ways to “green” their products, their manufacturing, and their distribution processes. Let’s face it. When a slide show can win an Oscar, it must be real. Since the original Earth Day in 1967, marketing periodicals have been saying that green marketing was the next big thing. It wasn’t then. It is now. Better get with the program.
7. Go organic. Go natural. Go anything but artificial. Organic foods. Organic skin care. Organic pants. Organic pants??? That’s right. A recent TV spot for Wal-Mart featured an on-camera spokesperson talking about her new organic pajama pants. The idea behind this spot shows just how deeply rooted the organic movement has become. It’s all part of the get real, get healthy, and environmentally-conscious world of today, not tomorrow.
8. CRM are the three most important letters you should know. Customer relationship management should be part of every marketing plan. We have always known that it is more expensive to recruit new customers than it is to retain existing ones. With ever-increasing expectations, and lower tolerance levels, consumers are demanding instant gratification at every turn. Retailers like Nordstrom are a great example of the power of being customer-centric – they continue to prove that people will pay more for better service.
9. East or west, home is best. A global economy, mass production and outsourcing, are contributing to a growing backlash against imported products and services that are putting American workers out of business. Many consumers are willing to pay more to get local goods that are presumably made with more care. With the recent product contamination scares from China, we may even see a resurgence of Made in America.
10. The era of “one size fits all” marketing is over, and niche marketing is the future of our business. If you haven’t read The Long Tail by Chris Anderson, buy it today. It’s one of the most thought-provoking books I have read in a long time. It makes a strong case for an entirely new economic model for business that is being created through digital technology. The Internet opens a new world of possibilities for niche products that never existed before and the primary economic value of the Internet to consumers comes from providing access to products that might never have been made available in a mass market economy. In a digital world where everything is available to everyone, niche marketing is the natural and inevitable wave of the future.
I’m sure you can find many other issues, trends, and social behaviors in your own business categories. The important thing to remember is to keep looking ahead if you don’t want to get left behind.
Perhaps just as important for marketers is to recognize that changing social behaviors, attitudes and mores are also affecting marketing. Here are ten things I believe will have major impact on how we market in the future.
1. Corporate greed is not good. In a world of increasing corporate transparency, consumers will reject companies and their products if they do not live up to proper ethical standards. Marketers need to examine every aspect of their business, not just the boardroom. Not every brand is as strong as Nike, and able to withstand the negative publicity of child labor exploitation.
2. In a multiple-choice world, you must differentiate or die. Jack Trout was right on target when he said that in today’s ultra-competitive world there are so many choices that companies will be hard pressed to survive without a point of difference. The average supermarket has over 45,000 branded items. There are now over 3,000 brands of bottled water. Huh?
3. To blog or not to blog, that is the question. Social networking is a fact that cannot be ignored. But companies must be careful when using tools like blogs, vlogs and Podcasts or face the wrath of a networked audience that can love you one minute and hate you the next. Some forward-thinking companies have created a new executive position of Blog Monitor to be able to respond quickly to new issues as they arise, or to correct misinformation that can damage a company unfairly.
4. “Word of mouth” can no longer be a happenstance event but rather an important part of an integrated marketing program. In today’s world, “word of mouth” can travel around the world instantly via the web. Viral marketing efforts like the Subservient Chicken and Lonelygirl15 have gotten millions of exposures for little to no cost. Social marketing and Web 2.0 will impact your business, whether you want it to or not. The next wave of “word of mouth” will be user-generated reviews of everything from restaurants to shopping to hair salons. One disappointing entrée or a surly waiter has the potential to ruin a restaurant’s reputation. Is that scary, or what?
5. Video messaging still rules, it’s just the delivery methods that are changing. Everything we learned in marketing class about sight, sound and motion still holds true. It is unquestionably the most powerful way to inform and persuade. But the continued fragmentation and decline in viewership of traditional television is being replaced by on-line video. We can’t all afford to back something as ambitious as Bud TV, but keep a close watch on YouTube as the next mass medium. Politicians have certainly jumped on that bandwagon. Are you one of the 2 million plus viewers of Obama Girl?
6. It’s not easy being green. Kermit was right. But if you aren’t looking for ways to include some form of green marketing or sustainability (the next great marketing buzzword), then you will be left behind, choking on ethanol exhaust fumes. Wal-Mart is touting itself as the world's largest buyer of organic cotton, fair trade coffee, and energy-efficient light bulbs. Companies across America are looking for ways to “green” their products, their manufacturing, and their distribution processes. Let’s face it. When a slide show can win an Oscar, it must be real. Since the original Earth Day in 1967, marketing periodicals have been saying that green marketing was the next big thing. It wasn’t then. It is now. Better get with the program.
7. Go organic. Go natural. Go anything but artificial. Organic foods. Organic skin care. Organic pants. Organic pants??? That’s right. A recent TV spot for Wal-Mart featured an on-camera spokesperson talking about her new organic pajama pants. The idea behind this spot shows just how deeply rooted the organic movement has become. It’s all part of the get real, get healthy, and environmentally-conscious world of today, not tomorrow.
8. CRM are the three most important letters you should know. Customer relationship management should be part of every marketing plan. We have always known that it is more expensive to recruit new customers than it is to retain existing ones. With ever-increasing expectations, and lower tolerance levels, consumers are demanding instant gratification at every turn. Retailers like Nordstrom are a great example of the power of being customer-centric – they continue to prove that people will pay more for better service.
9. East or west, home is best. A global economy, mass production and outsourcing, are contributing to a growing backlash against imported products and services that are putting American workers out of business. Many consumers are willing to pay more to get local goods that are presumably made with more care. With the recent product contamination scares from China, we may even see a resurgence of Made in America.
10. The era of “one size fits all” marketing is over, and niche marketing is the future of our business. If you haven’t read The Long Tail by Chris Anderson, buy it today. It’s one of the most thought-provoking books I have read in a long time. It makes a strong case for an entirely new economic model for business that is being created through digital technology. The Internet opens a new world of possibilities for niche products that never existed before and the primary economic value of the Internet to consumers comes from providing access to products that might never have been made available in a mass market economy. In a digital world where everything is available to everyone, niche marketing is the natural and inevitable wave of the future.
I’m sure you can find many other issues, trends, and social behaviors in your own business categories. The important thing to remember is to keep looking ahead if you don’t want to get left behind.
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