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Social Media and Content Marketing Explained
| Posted on May 19, 2015 at 11:27 AM |
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Volumes of blogs, articles
and research have been written on the millennials. My married daughters
are members of that generation and have started families of their own.
I've watched them ditch Facebook for Instagram and have left them both in the
dust when it comes to Twitter. A text message will still get the quickest
response, but an immediate reply is never guaranteed on any platform because
their lives are busy. Reaching your target market through social media
and content marketing can be complex. That's why I've engaged Wade and
Levi to take you through some important points to consider. 1. Without
strategic goals and a roadmap you will not reach your destination. 2. Lead by example. 3. Use social employee advocacy applications. 4. Social platforms should have different
strategies. 5. Don’t broadcast, collaboration and two-way
conversations build relationships. 6. Viral is not a strategy. 7. Empathy is more effective than public
shaming. Don’t be a social bully. 8. Does your social marketing content tell a story? They say a picture is worth a thousand words. I’m paying in jelly beans. (You can watch the video version of this post here: https://www.youtube.com/watch?v=dR8RrH01zps
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Has your marketing message been muted?
| Posted on May 14, 2015 at 11:50 AM |
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The mute buttons on phones and TV remote controls are very useful. They are not without risk though. Nothing life threatening, but the possibility
of embarrassment and agitation exists.
Like the time you thought your cell phone was on mute and you carried it
with you into the restroom during that conference call. And there was that time you muted a TV
commercial and missed an important part of the dialogue when your show came back
on. About a year ago Twitter introduced their “mute” feature. Muting a user on Twitter means their Tweets and Retweets will
no longer be visible in your home timeline, and you will no longer receive push
or SMS notifications from that profile.
It’s a way to be able to discreetly silence a follower without the drama
that occasionally occurs if you were to unfollow them. Have you used the mute feature yet?
I have, so here are four points I keep top of mind in hopes of avoiding
your mute button: 1. Content carries consequences. You are what you tweet and retweet. If your material is offensive, shocking, or your
followers see it as consistently off topic, be prepared to be muted, unfollowed
or even blocked. 2. Go with the flow. Don’t try to control it because machine
gunning tweets is dangerous. Yes,
marketers want attention and one tactical way to try and capture it is to quickly
tweet in an uninterrupted sequence. But
if that sequence is basically spray and pray type content with low value-add be
prepared to have your voice muted. If
you want to experiment with sequencing try a “Burma Shave” story strategy referenced
in my “How to Use Social Media to Create Interest and
Credibility” presentation. 3. Out of sight, out of mind. If you are muted, future conversations are
over. What I mean is that there is a low
probability they will remember to turn the mute button off at a later
date. In essence, your voice has been
hidden. Yes, this presents a big dilemma
if you are extremely chatty. On one hand
it’s great that you are engaging in one-to-one relationships; however, not all
of your followers are interested in viewing a timeline filled with conversations
that mean nothing to them. 4. No warning.
If you’ve ever presented at a conference and noticed your audience was
not engaged you were lucky because you had the opportunity to make adjustments
to get back on track. You won’t be so
lucky in this situation. There will be
no notification or message that you’ve been muted. There you have it. The mute
feature gives the audience control over the content they see on Twitter. |
How to Engage a Social Media Influencer
| Posted on May 4, 2015 at 8:18 AM |
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How many social
media blogs and white papers have you read where one of the first points of
advice reads: “Find the key influencers in your space and engage them.” Finding key
influencers is not that hard. Engaging key influencers is much more
difficult than most people realize. In fact, most social media managers
struggle with this task because they have never been trained on how to approach
an important influencer. OK, I can already feel the heat rising from that
last statement and you may very well disagree. Let me explain my B2B
point-of-view before you turn on the flames. First of all, it’s not just
social media managers who fumble with the influential. Most people
approach key influencers incorrectly because approaching key influencers is not
unlike approaching a key executive decision maker. So, how many of your
employee’s had training specific to the approach of C-level “shark tank” type
buyers? Is your answer zero on the social media marketing team? Key
B2B social media influencers are like top B2B executive level decision makers
for the following reasons: 1. They have an
audience who listens to them. In many cases that audience is much larger and
more loyal than any corporate executive could ever hope for. 2. They have their
own point-of-view and agenda. Of course they do. Did you think they
became influential by being a social profile wall flower that only curates
other people’s material? 3. They have a
healthy ego. That is they are confident in their knowledge and comfortable
expressing their own opinion. Don’t try to put your words in their mouth. 4. They are
responsible for capital. Social capital and in some cases a real P&L.
Like all top executives they are not going to just hand over a piece of their
capital without getting value in return. So, have you even thought about
a “value proposition?” 5. They are human.
That means first impressions matter. Yes, they are sizing you up in the first
couple of seconds. It also means they ask themselves “what’s in it for
me?” each time you make a request for their time and attention. 6. It’s personal.
It’s always personal; don’t let anyone tell you different. If you’re
using social media automation (auto DM’s, etc.) to get your messages through
you’re wasting your time. They are not going to just pop over and “Like”
your Facebook page. In other words, don’t expect results from your
automated “call-to-action” requests. 7. They are busy.
That’s how they became influential. 8. You must learn
to listen with rapt attention. Key influencers like key executives want to be
heard and understood. If your initial communications suggest that you
want them to “find out what you do” so you can “see if there is a fit” you are
really kidding yourself. You need to prove you are listening (reading
their blogs, tweets, etc.) and engaging with their agenda first. 9. You must have
unlimited energy and patience. You may need to engage them for a very long time
before you catch their eye and they start replying to your comments. This
rapport building time is necessary and cannot be avoided. 10. Do not think in terms of “closing” the influencer. Key
influencers like key executives do not like to “be closed.” You want to
build a long-term relationship with the influencer and that means working to
show them how you are “opening doors,” not closing deals. There are
additional points I could raise, but these are a good start. Can you
change your current mindset in order to work with B2B social media influencers?
Your intern may know how to set up a Facebook page and search for hashtags on
Twitter. But are you providing training on how to swim with the
sharks? You need to because in many cases B2B social media influencers
and key B2B executive buyers are one in the same. |
How to Establish Business Rapport in 140 Characters or Less
| Posted on April 16, 2015 at 10:42 AM |
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In
2002 Nicholas Boothman penned a book titled “How
to Connect in Business in 90 Seconds or Less.” Pinterest wasn’t around in 2002, so yes, I
mean he is the author. It was a spin-off
from a book he released in 2000 titled “How to
Make People Like You in 90 Seconds or Less.” In his books Boothman states that research
has shown that we have approximately 90 seconds to make a favorable impression
when we first meet someone. “If meeting is
the physical coming together of two or more people, then communicating is what
we do from the moment we are fully aware of another’s presence. And between these two events - meeting and
communicating - lies the 90-second land of rapport that links them together.” How
quickly can you build rapport with others?
Without rapport, you will not get what you want, but when you have it a
lot of opportunities appear. Obviously Boothman’s
works are focused on face-to-face situations because they were written before social
media came on the scene. But I believe
many of the suggestions he offered can be applied to the social media world. 1. Rule Number One: When you meet someone, look
them in the eye and smile. Online this
means make sure your profile picture is business class. When you follow someone, or are following back
a new connection the first thing they are looking at is your picture. I don’t want to see a picture of your company
logo pasted into the spot where your face belongs. Also, you might be a fun loving adventurist
mountain climber in great shape. But
your end goal is to try and schedule a business meeting with me. So, is that really the picture you want to
use to create my initial impression?
Remember, I’m making a decision in just a couple of seconds on whether
or not to take you seriously and at this point of our relationship I don’t care
about your personal life. I care about
people who can add value to my day. 2. Rule Number Two:
When you want them to feel like they already know you, be a chameleon. What does a chameleon do? They instinctively know how to fit in. Online this means you need to fit into your
target markets world and not force them to feel like they need to follow your
world. Here is a suggestion on how to quickly
connect with your audience and improve your social graces: Before: “I hope you
enjoy my tweets.” After: “I’m looking
forward to reading your tweets.” See
the difference? A chameleon makes it
about their environment and synchronizes appropriately. When you adapt to their world they will feel
more comfortable and be more inclined to like you. 3. Rule Number
Three: Capture the imagination, and you capture the heart. Online this means your content needs to
build trust and fire the imagination.
What does your content look like?
Do your blog posts tell a story?
Or are they guaranteed to
induce sleepiness? Is your
Twitter stream engaging, or nothing but “Thank You for Following” messages post
after post? Coercion
is about getting people to do what you want them to; persuasion is about
getting them to want to do what you want them to do. Persuasion takes more time. It requires understanding your target markets
needs and desires. You need to develop
trust by building rapport and credibility, and minimizing their risk. If you’re not getting what you want from your
online networking behavior it’s time to change your strategy. |
The Social Media Marketing After-party Discussion
| Posted on April 10, 2015 at 12:38 PM |
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You created a presence on LinkedIn, Facebook and Twitter placing your
small business on the social media party grid.
Free word-of-mouth marketing was supposed to take over and the cash
register start ringing. It hasn’t played
out that way, so what happen? A
Foundation for Growth Social media platforms can provide the foundation for growth. Social platforms can help you and your organization
be found, find, and engage your target audience. · Be Found: To
be found during the “search” process when a customer or prospect has a need or
desire for a product or service that your organization is capable of
delivering. · Find: To be
able to find and approach prospects with characteristic’s that line up well
with your organizations target markets.
To create awareness, interest, desire and action (AIDA). · Engage: To
be able to approach customers and prospects with relevant content that creates
awareness and builds trust. Also, to be
able to communicate in a way that positively impacts the customer experience
across sales, marketing, and customer service. Still, there is nothing magical about social media. Other channels can provide those same
elements including good old face-to-face meetings. But social media can be very powerful if you
remember the following six key points. 6
Key Points to Get Your Social Media Program on Track 1. Strategy: Do
you have a social media strategy? Social
media is not a stand-alone marketing strategy.
It’s a component of your content marketing program and works best when
it’s integrated through your strategic marketing plan. 2. Technology: Social
media requires technology. It means
thinking about how your online social profile looks when presented on a
smartphone, tablet and PC. It means
researching and understanding the complementary social applications that are
available in the development ecosystem that help improve efficiency and
effectiveness. It means understanding
the feature functionality of several platforms including LinkedIn, Twitter,
Facebook, Google+ and YouTube just to name a few. 3. Processes: Process
discipline will help keep your social media strategy from falling into mass
confusion. Or at a minimum, you’ll be
able to keep the opportunities that surface through your social channels from
slipping through the cracks. For example,
how often are you going to create and post content? How often are you going to login to your
profiles to check for direct messages and new connection requests? Your customers and prospects may expect you
to be online real-time in order to receive the customer experience they’ve come
to expect from your company. 4. Money: Social media is not free. The “free” versions of many social platforms
are designed as a teaser if you will.
Full functionality is only made available with the paid version. And you will need full functionality if you
are using social media for business.
That means you need to make room in your marketing budget for social
media expenses. 5. Time: Preparing for, and engaging in customer and
prospect conversations takes time.
That’s why social media takes time.
Not just time to learn how all the various social media sites and
complementary applications work, but time to prepare the content to distribute
through those channels. And if it’s not
your time, then it will be your employee’s time, and employees cost money. So, we’re back to the budget issue. 6. Training: The term “digital native” is often used to
describe individuals born after 1980, when social digital technologies came
online. In other words, social media and
other digital technologies are supposed to come natural to them. Don’t believe
it. Whether you are a digital native or digital
immigrant (old-world settlers, who have lived in
the analogue age and immigrated to the digital world) using social media for business
requires training. Social media channels
often become the “voice” of your brand.
In order to minimize your risk you will want to have well trained
individuals driving those channels. |
Why Chief Marketing Officers are thinking about HR
| Posted on April 1, 2015 at 2:16 PM |
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If you are a technology vendor or CIO don’t panic. Chief Marketing Officers still love you. We continue to think about and are concerned
with technology and data. But I’m
starting to spend more time with HR this year.
Yes, I’m concerned with whether or not marketing has the “right people
on the bus.” That’s a challenge that never
ends, particularly when the business environment is constantly changing. What I’m bringing attention to, and becoming
more concerned with, is the individuals we don’t have room for on the bus. Let me set up the scenario. Think about your total recruitment this year. Based on the size of your company, your HR
department is likely to post several jobs, for several departments, across
various platforms depending on job scope and level. Some of your organizations have appeared on “lists”
recognizing your company as one of those “Best Places to Work.” That means you are likely to get tens if not
hundreds of applications for each position you seek to fill. Now bear with me because I’m going to apply
some math, logic, and then get personal in a moment. For one mid-level management job you received 50 applications. Your HR department called the top five best
choices, based on geographic location (you didn't want to pay for relocation),
experience and so on. After the Skype
interviews three were extended an invitation for personal face-to-face
interviews and one job offer was tendered.
Actually, the person hired didn't technically go through your formal job
process, they networked their way into the position. OK then, here is the tricky part, were
forty-five applicants sent the following standard HR email?
Dear (First
Name),
Thank you for your
interest in our (Internal Job Number and Internal Job Title) position with XYZ
Company. While your credentials and
experience are valuable, we have determined the credentials of other candidates
may better fit our needs at this time.
Your profile will be available to our recruiters as they seek candidates
for other opportunities. Please check
back for future opportunities.
Kind regards,
XYZ Company
Human Resources
** Please do not respond to this email. This mailbox is not monitored and you will
not receive a response. ** From a math and logic perspective are we good so far? You might be thinking, yes, your math is in
the ballpark, we’d get about 50 applications for a mid-level job posting. And logically we don’t have the bandwidth to
give personal attention to the forty-five who didn't make the initial screening. Sure, several in that group were very well
qualified, but we had to make the cut somewhere. “It’s
not personal, Sonny. It’s strictly
business.” The Godfather I love that line, but it’s dead wrong.
It’s always personal. We are by
nature, an emotional being. So, let’s
take a personal look at the standard rejection letter. 1. It’s not from a person. Sorry the “HR Department” and “Do Not Reply”
don’t count. By the way, how do you feel
when you get an email concerning a subject that you’d naturally like to respond
to, but can’t? 2. The subject line “Thank You for Your Interest”
might just as well be a Western Union Death Notice. 3. The wording is very similar in most rejection
letters. It appears that all HR
departments are using the same group of lawyers for this task. Sorry, just kidding. But really, how original. 4. Your high-level feedback, “credentials and
experience are valuable” is not helpful to the applicant or the process they
are going through. 5. Your response was late. They applied for that position three months
ago. We know, you almost forgot to send
any notice. Simply terrible. I could go on, but I think you get the picture. Alan, you’re in marketing, I still don’t
understand why you care about HR. OK, here
is why I care. Forty-five (late)
standard rejections letters multiplied by how many total job postings for the
year? From a branding perspective we
have potentially upset hundreds of individuals who could very well hurt our
sales in the future. How? Because many of the individuals we passed on
could still end up in our industry. They
may end up as employees of our competitors, sales or marketing reps for our
channel partners, or buyers for our current customers. And we just dismissed their interest in our
company with a canned rejection letter.
How much do you think they are really going to like us? What makes it worse is that from a political
perspective most of these individuals will keep their grudge silent. Just like the consumer who has a terrible
customer experience and chooses not to publicly voice their dissatisfaction,
but they never return. Is there an easy, quick and cheap answer? No, this is a big problem that most
organizations have given very little attention to. I doubt the negative financial impact of these
actions has ever been researched. In
fact, such research would probably be difficult to verify. But I do have some ideas for improvement, and
I’m going to be setting up more time with HR to discuss them. |
Are You a Social Buzzkill?
| Posted on March 31, 2015 at 8:20 AM |
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Imagine that you’re attending a major conference. It’s time to head over to the networking
kick-off session. You’ve got your
business cards in your pocket and your elevator speech is locked and
loaded. You’ve brushed up on current events
and read the speakers backgrounds so you are ready to keep the conversation
light and engaging. And then it happens; you run into a social buzzkill. He’s looking at your name tag now… “Welcome Alan, thanks for shaking my
hand! Now, if it’s not too much trouble
could you get out your smart phone and Like my Facebook page? While you’re at it take a look at my website,
and read my blogs and let me know what you think. Also, let’s connect on Facebook and LinkedIn. My company helps marketers get new customers. Can we schedule a quick 30 minute demo to
show you our stuff?” Just let me know
how I can help you! Well, here’s my business card, have a great conference!” What a buzzkill. Although, I’ll
have to admit; at a face-to-face networking event I’ve never had that kind of
greeting. Why does it feel like a common
occurrence when you’re on a social platform?
True networking is a give and take exercise. I learn about you, and you learn about me. We explore to see if there might be a mutual
benefit. Here are three signs that you
might be a Twitter buzzkill: 1. Social
begging: OK. It’s not really
begging. But you immediately request
your new connections to “Like” your Facebook page, read your blog, or connect
on LinkedIn. You might even do all three
through your automated direct message application you are using. Automation can be helpful, and I understand
the “call-to-action” temptation; but you need to turn it off. You wouldn’t make a frontal attack like that
during an initial face-to-face meeting, and you shouldn’t do it on a social
platform. 2. Extreme
thankfulness: Is it possible to be
over-the-top with thankfulness? I
graduated from Abilene Christian University and I don’t find it difficult to be
thankful for many things. But I’m still
going to put this on the table. When
your Twitter stream is just one long line of “thanks” or “welcomes” to your new
followers it gets kind of annoying. Even
more annoying because you are doing it with an automation tool. Plus, I’m not getting an idea of what real content
you can offer. We get it; you’re excited
(and thankful) to be building an audience.
But again, turn off the automation.
When you list me with six or seven new followers all at once, and three
of them are bots, it’s not like I really feel special. Save the thanks and welcomes for key situations. 3. Welcome,
but no follow: You probably wouldn’t
offer someone your business card, and then refuse to accept theirs. But that’s what it feels like when you
welcome a new follower, but don’t follow them back. It might be that your follower to follows
ratio is out of balance and you can’t follow more profiles just yet. If that’s the case you need to unfollow
someone who hasn’t followed you back yet in order to make room. Don’t risk losing your new follower by
telling them you’ll follow them later.
You’ll forget, or they may unfollow you if you don’t follow them back
within a certain period of time. I’ll get off my high horse now. After
all, it’s not like I’m the Ann Landers of Twitter. In fact, you may totally disagree with the
points above. I do really like the buzz
on Twitter though, and hate to see it killed. |
Social Networking Choke Points
| Posted on March 29, 2015 at 11:17 AM |
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A choke point is a strategic channel which could be closed
or blocked to stop sea traffic. At the Strait of Gibraltar,
where Spain reaches for Morocco, only eight miles separate Africa from Europe. It’s a
strategic location that links the North Atlantic Ocean and Mediterranean
Sea. When the world’s
economy depended on merchant ships, control of Gibraltar
meant control over the flow of products and profits to merchants throughout a
large portion of the world. Have your social networking messages sailed into a choke
point? It’s no secret in today’s
relationship economy that your prospect is in control of their Networking
Strait. And that means where rapport
reaches for credibility, a value-based relationship is built, and only then can
the flow of products and profits begin. Some
relationships appear to be no more than anonymous encounters, lasting only as
long as it takes to finish a simple transaction. Others are the prelude to a full merger of
supply and demand chains. Whatever the
duration or objective, strategic relationships generally depend on mutual value
and trust. Why you’re
not getting that demo appointment To enter an Executive Networking Strait you must be prepared to deliver
a communication experience that builds rapport, credibility and creates
value. Unfortunately, that’s not what
generally happens. Whether by email,
telephone, or through social media, the gist of the initial communication is
often the following: The usual headline or grabber statement “Quick Question” or “Follow-up” or “Just reaching
out”
Alan,I wanted to reach out because our fully oxygenated, holistic,
end-to-end digital marketing solution is revolutionary. I’d love to get a quick 30 minutes of your
time for a demo so you can see the full power and scope of our
capabilities. What time would work best
for you? Or is there someone on your team I should be working with?
or
Alan,Based on your title and background, I thought our marketing solution
would be of interest to you. Feel free
to visit our website to learn more about us.
I’d love to do a quick demo so you can see the features and
benefits. You can go to this (URL here)
to schedule a time that works best for you. or Alan,We seem to have several groups and interests in common. Would you be open to a quick call? We’re doing some exciting things here and I
think our solution would be a good fit. I’m a little over-the-top with my examples, but not by
much. Yes, in general you can assume
that the CMO has a budget and authority to buy (the B and A of the traditional
BANT qualification mechanism). And
according to a Gartner report, by 2017 the CMO will spend more on IT than the
CIO. So, of course you want to go
straight for a top decision maker, who has dollars to purchase, and jump-start
the sales process with an eye popping demonstration. If the CMO could just see the product in
action, they would instantly understand the value and sign the order. However; I’m going to assume that your days
are not completely booked with those types of executive level meetings. Whether the CMO is managing a global organization, or a
start-up, the marketing technology landscape they are facing is large and
continues to grow. Large or small, the
CMO doesn’t want to have their time wasted.
So, they’re probably not going to just stroll over to your website to
“learn more about” your company. In
addition, they generally don’t open their calendars for total strangers to talk
to them about something they are ill-informed about, or currently couldn’t care
less about. In short, you are pushing
buttons that turn them off, so it’s no wonder they rarely return your call or
reply to your digital invitation. You
want to project yourself as a “thought-leader,” someone who can be
trusted. But at this point the CMO is
not thinking of you as a thought-leader nor as a future trusted advisor. At this point, you are merely another transactional
salesperson chasing a quota. A Roadmap to Navigate the Executive Networking
Strait The networking roadmap appears straight forward, but
customer relationships are sometimes messy and emotional. In addition, customer relationships cannot be
microwaved. If your communication style
is based on “always-be-closing,” where every message must contain a
“call-to-action,” then social networks may not be the right communication
channel for your accelerated time frame.
Remember, your communications need to focus on creating rapport,
building credibility and demonstrating value over the long-term: ·Rapport: Rapport is the ability to understand each
other’s feelings or ideas and communicate well.
Without rapport, you will not get what you want - not friends, not
demos, not sales. ·Credibility: Is the
quality of being believable. Its confidence
in your competence in the topic or idea you are trying to present. ·Value: The relationship creates some form of
value that clearly contributes to the fulfillment of the customer’s needs and
desires, or helps them mitigate risk. Think about those three factors for a minute. They have a lot in common with a job
interview. Yes, in many ways when you
are trying to contact a top decision maker you are on a job interview. Have you been thinking of that initial contact
in that light? ·Making a
good first impression: There is no
room for error here. The executive you
are trying to reach is probably going to check you out on LinkedIn first in
order to understand your background and credentials. Does your presence on the major social
platforms set a professional tone? Is
the executive likely to view you … not your company and not your solution
portfolio … as someone capable of adding value to their day? ·Listen: This means listening with your full
attention. Read their blogs, review
their LinkedIn profile from top to bottom, and follow their posts on
Twitter. Show them you are interested in
understanding how they feel by listening with empathy. ·Stop
trying to close: Top executives don’t
like “being closed,” or pounced on. Just
because they followed you back on Twitter doesn’t mean it’s time to ask for a
short demo to “see if there is a fit.”
In fact, just because they followed you on Twitter doesn’t mean it’s
immediately a good time to suggest connecting on LinkedIn. Yes, LinkedIn, Twitter and Facebook are all
social networking platforms. But
connection on one doesn’t equal immediate and automatic connection on all of
them. They probably have a different networking
strategy for each platform so you are shooting yourself in the foot by trying
to move to fast. Nurture the
relationship before suggesting deeper engagement. |
Leverage the Power Triangle to Bootstrap Your Marketing Program
| Posted on March 20, 2015 at 3:02 PM |
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The other night I told my wife that I
might actually be a growth hacker. She
just looked at me and said, “You spend way too much time online.” Sean
Ellis, who
is known for helping Dropbox grow in its early days, coined the
term "growth hacker"
in 2010. In a blog post,
he defined a growth hacker as "a person whose true north is growth.
Everything they do is scrutinized by its potential impact on scalable
growth." In April 2012 the idea of
growth hacking really took off when a blogger named Andrew Chen
wrote a piece called “Growth
hacker is the new VP Marketing.” Of course, now that CMO’s are expected to
have a technical background my CIO counterparts don’t find the “hacker”
reference particularly funny. Is your true north pointed toward growth? Yeah, that’s what I thought … who’s isn’t? In one way or another we are all trying to
create growth with resources that are subject to being hacked or cut out
completely. In my mind, the term “bootstrap” works
just as well. Bootstrapping is often used
to describe situations of self-reliance.
It means to develop by effort with little or no assistance. In the world of marketing this often equates
to launching a new customer initiative with minimal capital or cash flow. The current anxiety over the global economy
suggests 2015 could be a bootstrapping year as chief executives, chairmen and
company presidents focus on our slow growth economy. That means CMO’s will have
plenty of opportunities to document their “how I bootstrapped the bear”
marketing stories. In a
slow growth economy, one of the major reasons businesses go under is because
they run out of cash. Cash flow is the lifeblood of every business and in order
to keep the business healthy, cash needs to continue flowing; and slow growth can
be particularly hard-hitting for small businesses unless they have plenty of capital
to ride out the doldrums. In my blog
post “You Can Support Headcount and
Share of Voice on a Tight Budget” written during the 2008 economic
downturn I presented a high-level case study in which a small business was able
to increase qualified leads by 7 percent while cutting their marketing budget
by 24 percent. And the decrease in spend
was not the result of reducing headcount.
So, let me offer what I consider a business development “power triangle” that may
help you bootstrap your 2015 marketing plans. 1. Blog: I know; you’ve been blogging for years now. But you need to get more people motivated and
involved. One person creating one post a
month means you are far behind in the content-marketing arms race. Attention spans are short and quality
expectations are high. So, keep them
short and entertaining with relevant stories.
Focus on building trust, rapport and credibility. And remember, relationships are not developed
overnight. Think long-term, not every communication
needs to blast a “call-to-action.” You
can create focused content by leveraging your in-house subject matter experts to
provide material that supports each phase of your sales cycle. As always, make sure the content is search
engine-optimized so certain keywords are likely to be picked up in
industry-specific searches. 2. LinkedIn: I know; you’ve been on LinkedIn for years. But too many people in your organization
still consider LinkedIn as a resume tool that you only think about when you are
searching for a job. They don’t
understand that LinkedIn may very well be the best business development tool on
the planet. Help your organization
understand how adding blog posts, video, projects and presentations to their
profile helps increase their credibility.
The decision makers your sales force is trying to contact are reviewing
their profiles. If they don’t like what
they see, chances are they won’t be returning any phone calls or accepting any
meeting requests. 3. Twitter: I know; it’s been a month since you logged on and you still don’t
really see the value of Twitter as a business development tool. This element of the power triangle is where
most organizations will fall short. They
don’t understand the value of Twitter to help build and nurture a targeted
audience. And they haven’t figured out
how to use the platform in an integrated way to start conversations that
actually develop into business relationships.
At best they’re probably using Twitter merely to broadcast
product-focused messages. New social
employee advocacy applications can help.
So, renew your perspective on this application and build your audience. By
integrating your social media platforms and content strategies you can create a
focused marketing program that can make a cost effective difference in both
your lead generation and lead nurturing programs. It will also help you
maintain your customer-focus while you’re doing everything possible to manage
your cash flow in a slow economy. |
How Does Word-of-Mouth Marketing Really Work?
| Posted on March 12, 2015 at 9:46 AM |
comments (1)
|
Word-of-Mouth Marketing (WOMM) today is both online and through
face-to-face interaction. At times we
think of WOMM in terms of marketing buzz,
the interaction of users of a product or service that amplifies the brand and
in some cases goes viral. In reality, regular old everyday “buzz” is not as glamorous as
we marketers like to imagine. Recommendations
from friends and family don’t often come with viral like excitement, but from a
place of more practical experience. This perspective was driven home for me during a lecture with
some senior business students during their capstone marketing course. The class had been working through a
marketing media planning session focused on a national plumbing company. The
students did an excellent job. In fact, I was impressed with their
recommendations to leverage social media in addition to the traditional media
typically used for advertising in the plumbing industry. Of course, most 22 years olds have never actually
had to call a plumber, and that fact came out in the following exchange: Alan: “What I would like for you to
do is to close your eyes and imagine that you have recently purchased your
first home. You walk down into your basement and you notice water on the floor
because your hot water heater is leaking. What’s the first thing you are going
to do?” Student: “I’ll probably still live in
this area, so I’ll pick up the phone and call my dad.” Alan: “You’re not going to leverage
one of your social media communities, or go online and do a search on plumbing?
… Is your dad a plumber?” Student: “Well - no; but he will know
who to call.” When I think about it, it’s not hard for me to imagine that the
situation above would play out the same in my home. I can hear it now: My 24 year old daughter: “Dad - my hot water heater is
leaking!! Can you help me?!” Alan: “Yes, don’t panic, I’ll be over
in a second and we’ll figure it out.” So, which plumbing company do you think will get the
business? Well, when is the last time I
used my plumber? Do I still have their
number? Should I do a quick online
search? Should I grab my yellow pages
directory? Didn’t I recently get a direct
mail coupon from a plumbing company? Should I send a tweet asking my followers
for a local recommendation? Perhaps I should
grab some tools. No, I definitely should
not do that because I’d create a disaster! |
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