Feeds:
Posts
Comments

Archive for the ‘smart business’ Category

nuclear-explosion

Let’s go over a few things:

1. Social Media is good for you, you know it, and you know why.

2. Social Media alone can’t save your business, but you know that your business can no longer be a market leader without an effective presence in Social Media.

3. Without resources to put behind a social media program or practice, you’re nowhere. It’s kind of like trying to drive  a car without gasoline. Sorry. It isn’t going to happen.

4. Without capital, you can’t put resources behind your Social Media program. So… you have to be able to justify that expenditure. That investment.

5. In order to be able to justify an investment in a Social Media program (from your boss, your client, your peers) you need to understand how to show the value of such a program to their organization.

6. Hits on your website, banner ad clickthroughs, impressions, KPI and whatever other types of measurement your marketing people love to throw at you are nice, they’re important, but they don’t justify a whole lot. They’re a lot like hugs: Everyone knows hugs are nice, but they don’t pay anyone’s salaries and bonuses. You have to take that game a little further.

7. The P&L is not an arcane accounting document. It is where business decisions are put to the test. Every business manager on the planet watches it daily. If you have never been responsible for one, at least get familiar with its mechanics and importance.

8. If you want to justify a budget, a program, a salary, a raise, a bonus, show your boss and your client how your idea will generate more revenue, more dividends or more cost savings. Or how it already has. That will ALWAYS get more priority than schemes to get attention or earn hugs. Money is not an abstract notion. You could get lucky and never be asked to tie your activities to financial impact, but that’s no excuse not to learn how to do it.

9. If you are not able to do this, if you cannot justify the value of a Social Media program, practice, presence or endeavor, the budget you needed to make it happen will go to something else. Like email blasts, efficiency consultants, or that new executive bathroom your boss has really been jonesing for.

10. If you cannot convince your boss or client to invest resources, time and faith in Social Media, they (and you) will get left behind by those of us who can and do. (And I assume you don’t want that.)

11. There are solid measurement and R.O.I. Best Practices and case studies being developed right now. They will pave the way for very, very VERY good things. If #10 (above) resonated with you, you probably want to learn from them so you can apply them to your business. Hence my proposal to SxSW ’10.

12. The nonsense and B.S. need to stop. They really do. For everyone’s sake.

You have a choice: You can continue to ignore the topic of Social Media measurement and R.O.I. Best Practices and pretend that talking about web conversions and the influencer index and brand lift will keep things going (which they won’t), or you can get serious about this stuff, learn how to do it right, and be a hero with every company you work for for the next ten years.

Your choice.

If you want to learn this stuff, if you want to bring this discussion to the table, please vote for my session at SxSW asap. The voting ends on Friday at midnight, so I really need you guys to act now.  Spread the word, show people my latest  R.O.I. presentation if you have to… whatever works. It’s up to you. Know that if the session doesn’t get enough votes and isn’t accepted, I am 100% fine with that… But it would be a shame: The sooner we put the R.O.I. “discussion” to rest, the sooner we establish these best practices once and for all, the sooner we can get back to doing more important work.

If you haven’t voted yet, click here now, and thanks in advance. Pass it on. 😉

(You guys rock, by the way!)

Read Full Post »

You’re always in beta. Always. If you think you aren’t, you’re already falling behind and bleeding relevance.

What does being in Beta mean? It means being in perpetual test mode. It means constantly asking “how could I do this better,” even when this worked just fine. How can I listen better? How could I improve customer service? How can I make my billing process smoother? How could we improve the UI/UX of our websites? How can I engage my user community even better? How could this brochure have been better?

I know what you’re thinking: Poor kid. He’s terminally obsessive-compulsive. 😀 (Actually, I’m just compulsive, not obsessive, but that’s a topic for another day.)

The point is this: The moment you start thinking that you have found the perfect model, the second you start adopting a “let’s not change anything” mentality, you’re screwed. The “don’t fix it if it ain’t broke” saying I hear a lot in the South is may have been pretty good advice a hundred years ago, but it isn’t anymore. Not if you want your company to stay competitive. Not if you want to see your company grow. Not if you want to see chronic improvement in everything you do.

Check out today’s video if you haven’t already. And if it doesn’t launch for you, go watch it here. (Thanks, Viddler!)

Interestingly, the “you’re always in Beta” mindset that I am talking about today seriously reminds me of the mindset athletes and coaches get into when it comes to improving performance. Say you’re currently a 24:00 5K runner, and you want to relive your college glory days by running an 18:00 5K a year from now. How do you do it? Simple: By stressing your system one little bit at a time. By challenging your comfort zone with every run. Going from 24:00 to 23:55, then 23:50, then 23:45 for the same distance, and so on. Turning up the heat and the intensity for a few weeks, then giving your body a chance to adapt. To plateau. And then starting over with a new cycle of stress and adaptation followed by a rest period. During that time, you are constantly testing your boundaries, monitoring success and failure, learning what works and what doesn’t. (And yes, measuring your progress to know what works and what doesn’t.) Pretty basic stuff.

The alternative would be to keep running the same 5K route every day at the exact same speed, in the exact same way. What would happen? Well, you would become pretty good at running a 5K  in 24:00. Comfortable? Sure. But whatever happened to improvement? See where I am going with this?

Okay, now let’s complicate things a little bit:

As a triathlete, training and competing in what essentially amounts to three sports (swimming, cycling and running) adds some pretty substantial layers of complexity. Not only do I have to figure out how to train for three specific sports, but I have to figure out how to combine and integrate all three in a way that doesn’t lead to injury or burnout. I also have to fit all three in my already busy schedule. Then I have to consider how to time my training cycles to coincide with specific races. In addition, I have to incorporate changes in nutrition and hydration based on my workouts, my training mode, outside temperatures, etc. And if I get into my head that I am going to train for a marathon, half Ironman or full-on mac-daddy Ironman, all of these variables take on a level of complexity I can’t even begin to explain in one blog post. How much Gatorade should I drink per hour in 94 degree temperatures at 80% of my maximum heart rate? How many energy gels can I absorb per hour without getting sick to my stomach? What cadence should I adopt to sustain an average speed of 21mph for 112 miles? Only one way to find out: Test it.

And I haven’t even talked about gear. Will the improved aerodynamics gained from dropping my aerobars down 2 millimeters shave 20 seconds off my 40K time? Maybe… but as a result, will my upper body’s new angle offset my hip angle enough to reduce my power output or stress my hip flexors enough that I will start cramping up 5 miles into the run? How will I find out? There’s only one way: Getting out there and testing that theory. It’s clipboard and stopwatch time for the next six weeks.

Should I go with a disc wheel or a deep dish rim for my next race? How will I know which works better for me on a moderately hilly course in 15mph crosswinds? Only one way: I have to go test each wheel configuration on a variety of courses in completely different wind conditions. Then I’ll know what works best in specific course conditions.

Rear-mounted bottle-cages or frame-mounted? Aero helmet or regular helmet? Motion control shoes or racing flats? Test test test test test. You get the picture.

Call it an occupational benefit or a pre-existing condition, but being a triathlete kind of trains you to be in a perpetual Beta mindset. And it isn’t a stretch to jump from the world of competitive endurance sports to the world of business performance. Different application, but same principles and same basic methodology: Ask, test, observe, validate, learn, repeat.

But before you do all this – the testing, the experimentation, the analysis and learning and adaptation – you have to make a choice. You have to pick a camp. You have to decide whether you are satisfied with your business performance as it is today (“good enough” is good enough for you and your customers), or hungry for improvement.

There’s no right or wrong answer here. It doesn’t matter what camp you decide to align yourself with: The one happy with the way things are or the one looking to kick ass a little more each day. What matters is that your decision work for you. But let’s be clear about the impact that your choice will have on your business: Sticking with a “let’s not change anything” mindset will not earn you more customers, increase customer loyalty or generate more sales. Where you are today is exactly where you will be tomorrow. If you’re lucky. Eventually, perhaps not next week or next month or next year, but eventually, this mindset will seal your doom. A Beta mindset, however, will help you uncover ways to innovate, earn more customers, cut costs, increase customer and employee loyalty, improve product design and performance… You name it: Whatever the opportunity to improve, do do things better and smarter, may be, you will systematically uncover it in the same way that Apple, Nike, BMW, Cervelo, HBO, Michael Phelps, IDEO, Lance Armstrong, Comcast and Zappos have.

If you want your company to be best in class, to own a market or an industry, to be the trendsetter, the example to follow, the leader in a category, you must adopt a perpetual Beta mindset. You have to constantly stress your systems and processes. You have to turn every action into a test an look at every activity as an opportunity to experiment.You have to measure, analyze, learn, adapt and repeat the cycle over and over and over again.

Question everything.

Work harder than the next guy to build the best XYZ the world has ever seen, and then find ways to make it even better.

Perfection is a process, not a milestone.

Embrace a state of perpetual Beta.


Read Full Post »

bos11bos10

Thanks to the awesome folks at Radian6 for inviting me to tag along Wednesday for their “Rock Stars of Social CRM” event held in Boston, Mass – which coincided perfectly with the #e2conf. Watching how Radian6 now integrates seamlessly with SalesForce.com, effectively merging Social Media monitoring and CRM, was kind of a strategic “wow” moment for a Marketing and Social Media geek like me. (Actually, I think my exact words were “Holy $#%&!!!! You can do that?!?!?”)

Having been on the client side of the Marketing and Business Development world for years, this stuff to me is the Holy Grail of apps.

Literally, people: Mind. Blowing. (Not only the fact that you can plug one of the best CRM platforms on the market and Radian6 into each other now, but also how smoothly and seamlessly it all works for the user/manager. Chris Newton is a genius, pure and simple. I’ve been saying it for months now: 1. If you aren’t already using R6 and 2. if you aren’t driving this thing like Speed Racer behind the wheel of a Mach 5, you are seriously missing the boat when it comes to properly managing your Social Media program(s).  – By the way, I am not being paid to say this. I am not affiliated with Radian6 in any way. Just stating the obvious about the tool’s impressive, ever evolving capabilities and the super smooth U.I., for starters.)

Okay, so anyway, there’s a lot I didn’t film while in Boston (as much as I love to play with cameras, there’s something a little unsettling about shoving a camera in people’s faces every time you have a conversation with them), but what I did film ended up here. So no, you won’t get to see my very first handshake with Chris Brogan, my first hug with Amber Naslund and Anne Handley, my first laugh with David Armano or any of the really fascinating conversations I had with two dozen super interesting tweeps who also happened to be wicked smart. (Yes, I was in Boston. I mentioned that, right?) But you will see me aimlessly walking through airports, talking to my toothpaste, laughing at snoring travelers, getting lost in parking garages and even goofing off with some of my favorite bloggers on the planet. That should be worth something, right? Today’s is not exactly a business video, but hey, behind the scenes stuff can be pretty cool too. (If it doesn’t work or launch properly, go watch it here.)

I need to start going to more of these conferences. The face-to-face interractions are just phenomenal. How often do you get a chance to have breakfast with Comcast’s Frank Eliason, lunch with Chris Newton and Chris Ramsey, coffee with David Armano and drinks with so many others whose ideas, insights, questions and experiences send your brain into a hundred new directions? Seriously priceless.

Read Full Post »

gilgerretsenmasterFor the first time ever, I am opening up my blog to a guest contributor… and it’s about time too. I should have started doing this years ago. Today’s guest post comes to us from local business and strategy coach Gill Gerretsen, who is arguably one of the most recognizable (and some might say influential) business figures in South Carolina.

Through BizTrek and Power-Note, Gil  has both helped and connected hundreds (if not thousands) of SC business owners over the last few years, and his community is still growing by leaps and bounds. (No big surprise there.) Aside from being brilliant, Gil happens to be a super nice guy, which goes a long way in my little world. We’re lucky to have Gil share some of his business insight with us today.

And as a bonus, Gil makes his point a heck of a lot faster than I do. (There’s a lot to be said for that.)

Fast Thinking

Most corporate executives spend less than 2.4% of their time actively thinking about the future. But the ability to anticipate is one of the key ingredients of success.


If you race ahead without knowing where you are headed, you may get there fast, but it will probably not be the place you wanted to end up. We see that happening a lot in today’s economic environment. Far too many business leaders never thought or planned for a serious economic realignment. For many, the possibility never even crossed their mind!


In contrast, entrepreneurs spend the majority of their time trying to imagine and anticipate the future … and then try to figure out how they can operate effectively in that environment. What steps can you take to better understand and predict the future?


1. Begin by looking backward. Studying the trends and cycles of the past will improve your ability to imagine the future. Remember the slinky? Eventually, the other end makes a landing. It is not in exactly the same place, but the patterns ARE predictable.


2. Figure out the next life cycle for your business. Every revolutionary idea unfolds in five phases. First, the idea is invented. Second, key enabling technologies allow the innovation to spread. Third, a key insight turns a technological possibility into a commercial application. Fourth, a business process emerges to generate profits from an unmet market need. Fifth, the product or service eventually becomes a commodity and price wars erupt. Then, consolidation shrinks the field of viable market contenders to just a few suppliers (often three).


3. As Michael Gerber taught in his book, The E-Myth, work ON your business, not IN your business! Spend at least one day per month out of the office to think and anticipate where you might be able to take your business.


What are YOU thinking about the future?


Gil Gerretsen

BizBullet.com


Have a great Thursday, everyone. 🙂


Speaking of Thursdays, today happens to be Power-Note’s April luncheon, so I will undoubtedly see several of you there.


PS: If any of you are interested in becoming a guest contributor on the BrandBuilder blog, send me an email or shoot me a direct message either on Twitter, LinkedIn or Facebook (links are on right hand side of page.)

Read Full Post »


Via the SwampFox Insights blog:

“The majority of the world’s designers focus all their efforts on developing products and services exclusively for the richest 10% of the world’s customers. Nothing less than a revolution in design is needed to reach the other 90%.”

—Dr. Paul Polak, International Development Enterprises

The man has a point.

Check out this brilliant website.

A lot of people don’t think of “design” as being all that important, because our daily interactions with “design” are limited to gadgets like the iPod or the latest pair of Oakley sunglasses, or maybe a faucet or something. Maybe we think of design when it comes to cars and clothes and furniture. But smart design can also save thousands of lives every day. Yes, something as seemingly superfluous as “design” can change the world. (Starting with the first tool, taking a detour via the wheel, and fast-forwarding to the millions of things we now take for granted, like the plasma TV, the hybrid automobile, the artificial heart, and even the ubiquitous bottle of Coca Cola.

If you aren’t the humanitarian type and couldn’t care less about saving lives, bear in mind that design can also create entirely new markets. (We just talked about getting there before the herd, so your ears should be perking up just about now.)

How can smart design can create new markets? According to this article in the New York Times entitled “Design That Solves Problems for the World’s Poor” (annoying subscription required):

“A billion customers in the world, are waiting for a $2 pair of eyeglasses, a $10 solar lantern and a $100 house.”

For starters.

That’s something to think about. Not in terms of exploitation, but in terms of wealth and opportunity creation. (The development of the easy-to-use, virtually crunch-proof windup $100 laptop – specifically designed to introduce computers and the internet to 3rd world children – is probably among the most ambitious of these types of endeavors, but also a great example of how we can start to create opportunity in regions of the world in which mere survival is still the order of the day.)

While everyone else is trying to appeal to the richest 10%, maybe, just maybe, the real opportunities are elsewhere. Maybe the time to get into these markets is before they even exist. The seeds are being planted now. The herd is starting to gather. Maybe by the time the market exists and the pastures are green and lush, you’ll find yourself in the back again. Maybe you’ll kick yourself in the butt for not having made a move sooner. (History repeats itself.)

What if you could create one of the most lucrative companies of the 21st century AND save tens of thousands of lives at the same time? What if you really could be enormously successful AND help save the world all in one fell swoop? What if you could have your cake and eat it too?

In this economy, perhaps these are questions worth asking yourself – especially if you are a US or Western European manufacturing company looking for a reason to go on.

Don’t even approach the problem from a humanitarian standpoint if you don’t want to. Approach it from a business standpoint. Here’s the problem you need to solve: 90% of the planet’s population wants something that they probably can’t get very easily. All you have to do is figure out what that is, how much they’re willing to pay for it, and how to get it to them. It could be a mode of transportation. It could be a light source. It could be a sanitary product. It could be food. It could be a garment. It could be knowledge. It could be something as simple as a tougher bicycle wheel. It could be anything.

There is no single answer. There are probably thousands upon thousands. And that’s exciting.

Whatever it is, it could also have applications right here, where the richest 10% of the world population lives and eats and shops 24/7/365.

It might even be a better option than trying to become the next Google.

Food for thought.

So… what are you working on right now?

Read Full Post »

social-media-stats-and-demos-2008

The questions came up again and again last week on Twitter: Does anyone know how many people use Twitter? Which cities have the highest Twitter usage? Who exactly uses Social Media and where? What do we know about the demographics of Twitter users? (Etc.)

I spent all of five minutes researching the internets to find the answers to all of these questions and bring you what is probably THE most comprehensive aggregation of Social Media stats, demos and other factoids in existence today. (Yes, my right index finger even broke a sweat.)

If anyone ever asks you anything about Social Media statistics for 2008, you can just point them to this post. (You’re very welcome.)

Okay, so to start us off, here is the breakdown of the leading social media platform usage by country as of Nov. 2008. It’s a great snapshot of where social media is today: Not at all the one-size-fits-all model many of us might think. This map doesn’t show why platforms are growing the fastest – just which ones have the most users for each country. If you want to see the map in its full glory or see how it’s changed over time, go straight to its source: oxyweb.co.uk. The site gives you a great month-by month snapshot. (As you can see, Twitter still has a looong way to go – which may not be a bad thing. Quality over quantity and all…)

socialnetworks-global-nov081

Now that we’ve had a glimpse of each country’s SocMed platform prference, let’s have a look at specific demographics for each of these platforms, from Badoo to the inevitable YouTube. Courtesy of the brilliant and enterprising folks at Ignite Social Media, here is the definitive 2008 report on all things Social Media, from geographic and search traffic data to basic demographic info (age, gender, education and household income). This is a KILLER quick reference guide for all you marketing/agency folks out there trying to get under the hood of certain SocMed platforms. Below, the Twitter data. If the font is too small to read, download the report. The skinny: The most common Twitter user is male, aged somewhere between 35 and 45, is college educated and makes a decent living. (Mid-career professionals.) Specific demos aside, Twitter seems to have a pretty even appeal across gender lines and income brackets, which is a good sign.

twitter-visual-stats-2008twitter-numbers-2008

You can download the full report here. I’ve already printed my copies and covered my office walls with the pretty graphics. Thanks again to Ignite for having taken the time to put this document together. Impressive work.

Another report you might want to look at is TechCrunch/Hubspot’s State of the Twittersphere, which also provides us with some interesting factoids about everyone’s favorite social media platform:

twitter_user_growth_q4-2008_hubspot

For example, did you know that 70% of Twitter users joined in 2008? That 20% of Twitter users have joined in the past 60 days? That the average user has only been on Twitter 275 days?

Or how about this: The most popular days of the week to Tweet are Wednesday and Thursday. An estimated 5,000 to 10,000 new accounts are registered each day. Only 5 percent of all Twitter users have more than 250 followers.

Great stuff. Check it all out for yourselves here.

If you are looking for microstatistics like fluctuations in Twitter usage in the last seven days – or peak Twitter usage times, look no further than TweetRush‘s little dashboard:

twitter-rush-hourEvidently, people are busier at work in the morning than they are in the afternoon. Hmmm…

Now for bragging rights: Since Twitter seems to be exploding all of a sudden, many cities around the world are vying for the #1 Twitcity spot. Well, don’t just wonder where your homestead ranks, find out! Twitterlocal serves you the Top 30 Twitting cities (arranged by sheer volume of tweets) and also allows you to search for tweets in specific areas. As I write this post, the top Twitter cities around the world are Tokyo (JP), NYC, San Francisco, Los Angeles and London (UK). Here’s the list:

twitter-cities-top-15

Bear in mind that this list is generated by twitter update volume during a 24 hour period and NOT by net Twitter user per city. The two are quite different. (Don’t go thinking that Tokyo has 37,212 Twitter users.)

If you do want to see a Twitter user count by city or state (and actually find Tweeps there) look no further than Twellowhood. Great map-based tool, so you can zoom in and out, pan in every direction, etc. The tool is still in beta and only includes North America (US and Canada) but look for it to extend to every country very soon. Great way to visualize/search Twitter usage geographically, and even dig deeper into who the users are. (If only phone books could be this well designed.)

Twellowhood - Zoomed-in on South Carolina

Twellowhood - Zoomed-in on South Carolina

For a metrics-obsessed guy like me, this is far from enough, but it will at least help you guys get started next time a friend or client asks you to give them some idea of who does what where in the Social Media space.

As always, please feel free to add more info, data and sources to this post via the “comments” section of this post. And if this inspires you to dig up even more data and publish your own Social Media reports, that will be a very good thing.

Have a great day!

Read Full Post »

imgmainiconsallb

Great observation about design on Presentation Zen (hat tip to What’s The Beef?):

Design is about many things. Above all, it’s about clarity, and intentions and about putting yourself in the position of the end users (or the customers, students, audience, etc.). When designs are not well thought out, even though it may all look good from our point of view, users get frustrated, confused, or even angry. Anyone who has used a poorly designed user interface on a mobile phone, for example, or gotten lost while following the signs on the freeway in a new city understands these feelings. And anyone who is squinting to see a figure or read a quote on a PowerPoint slide is experiencing a bad design of sorts. I always say the lessons are all around. I love examples of poor design, even for the simplest of things, because they are occasions to learn.

When you first sit in the driver’s seat of a car, push the ON button on a computer for the first time, check into a new hotel, look for information on a website, make your way to the cash register, connect a new media player to a laptop, snap a new lens onto an SLR camera, or lace up a fresh new pair of running shoes, it doesn’t take long to figure out how much time the designers actually spent using the type of product they designed.

When I get behind the wheel of a BMW, I know immediately that the team that designed it loves to drive. And I don’t mean just drive to work and to the store. I mean drive. As in… for fun. For thrills. Thirty seconds into using a Mac for the first time, the Apple design team’s passion for great user interfaces is also pretty obvious. Clip into a Look pedal, slip on a pair of Rudy Project Rydons, Squeeze yourself into a pair of Hincapie Sportswear bib tights or pull the cap off a Mont Blanc pen, and you will immediately feel the same thing.

Great design delights. Great design triggers smiles and compliments. Great design invites repeat business. Great design generates great word-of-mouth recommendations, endorsements and reviews. Great design is ALWAYS a win for everyone.

And bad design sucks.

For the third time in a week now, I found myself in a checkout line at my local Target store, and experienced the destructive power of bad design. Target painstakingly designs its stores and advertising to be inviting, upbeat and cool. I love shopping there because I know I’ll find something cool and inexpensive to buy for my house. So from ads to store design to product selection, Target is 100% conscious of the importance of great design, right? But then you get to the checkout, and it all comes crashing down. Here’s how: For some reason, a good deal of items at my local Target seem to come without bar codes. (As impossible as it may seem in this day and age.) And without a bar code, the cashier is completely helpless a checkout. If the item can’t be scanned, the purchasing process grinds to a complete halt. To get it started again, you need a price check: The cashier has to put on her blinking light and call a supervisor. The supervisor then has to stare at the product for five minutes to confirm that there indeed is no bar code anywhere on it. The supervisor then has to call someone on her little radio. That someone has to go to the back of the store to find the item, copy the bar code numbers from the shelf tag, and radio it back in – or write it down and walk it back to the front of the store. Meanwhile, the six families standing in line behind you are ready to beat you over the head with their $19.99 welcome mats and seasonal plastic tumbler sets. If you were in a hurry, forget it. What seemed like a simple, convenient little “oh hey, I’ll just buy it while I’m here” purchase turns into a “damn, I could have just gone to Wal-Mart instead” swell of regret.

A month before Christmas, your impromptu purchase of a $19.99 Michelin windshield wiper has caused a ten minute gridlock at register number nine on a busy Saturday afternoon. Because someone forgot to apply a bar code to a product, and also because the cashier and her system aren’t set up to identify the product without the precious bar code. In that one simple omission, every bit of great design that Target has spent millions of dollars to integrate into its brand evaporates. Not only for me, but for the six families standing impatiently behind me.

The lesson: Design thinking isn’t limited to products. Systems also require great design. And everything is a system. Your entire company is a system. Your customer service department is a system. Your warranty department is a system. Your checkout area – whether physical or electronic – is a system. Great systems are based on great design, and great design is based on observation: Putting yourself in your customers’ shoes. Understanding what they like or dislike. Finding ways of delighting them, or at the very least, fulfilling their specific needs.

If you’re a CEO or other C-level executive, how often do you look at your own company’s processes from a customer’s point of view? How often do you call your own 1-800 number with a problem or question?  How often do you go into a store to buy your own products “incognito” or try to return them through normal channels when they fail?

How much time does your company actually spend walking in the shoes of your customers?

Great design doesn’t start with a cool creative type sketching ideas in a posh studio. It starts with real world insight, out there where your customers and users live.

Want to be a great executive? Want to understand great design? Start by joining your customers.

Happy Thanksgiving week, everyone!  🙂

Read Full Post »

Roger Waters crowd

Pete Quily just saved me a few hours of work by publishing a fantastic Presidential Election/social media scorecard that outlines how the Obama campaign took advantage of social media and the internet to supercharge his grassroots movement all the way to victory. Remember the jokes about his having been a “community organizer?” It appears that the ability to create, organize and engage communities is a pretty useful skill after all. Combine it with social media, and you can work some serious magic – both in the political world AND the business world. If the Obama campaign’s success with social media strategies don’t convince CEOs and CMOs across the US that this “search”, Facebook and Twitter stuff is serious business, I don’t know what will.

Here are the numbers:

Barack Obama Vs. John McCain Search Engine and Social Media Showdown

Internet Presence
Barack Obama
John McCain
% Difference
Leading
Google Pagerank
8
8
0
Pages in Google’s Index
1,820,000
30,700
5828
Obama
Links to Website
in Yahoo – Pages
643,416
513,665
25
Obama
Links to Website
in Yahoo – Inlinks
255,334
165,296
54
Obama

Search Engine Results for Candidates Names in Quotes & Social Media Presence

Google
56,200,000
42,800,000
31
Obama
Google News
136,000
371,620
173
McCain
Google Blog
4,633,997
3,094,453
50
Obama
Technorati
412,219
313,497
31
Obama
WordPress.com
19,692
14,468
36
Obama
Google Image
24,200,000
8,620,000
181
Obama
Flickr
73,076
15,168
382
Obama
Flickr Photostream* 50,218 No Profile 50,218
Obama
Flickr Contacts* 7,148 No Profile 7,148
Obama
Google Video
136,000
89,800
51
Obama
Youtube
358,000
191,000
87
Obama
Youtube Videos Posted*
1,819
330
451
Obama
Youtube Subscribers*
117,873
none listed
117,873
Obama
Youtube Friends*
25,226
none listed
25,226
Obama
Facebook
567,000
18,700
2932
Obama
Facebook Supporters*
2,444,384
627,459
290
Obama
Facebook Wall Posts*
495,320
132,802
273
Obama
Facebook Notes*
1,669
125
1235
Obama
MySpace
859,000
319,000
169
Obama
MySpace Friends*
844,781
219,463
285
Obama
MySpace Comments*
147,630
none listed
147,630
Obama
Twitter
506,000
44,800
1129
Obama
Twitter Followers*
121,314
4,911
2470
Obama
Twitter Updates*
262
25
1048
Obama
Friend Feed
34,300
27,400
25
Obama

The statistic that should sum it all up: John McCain’s social network page has only 3 suggested sites, Obama’s suggests 16. One side understood how to seed social media channels to foster grass roots movements while the other had absolutely no idea what to do with social media beyond the obvious (using YouTube as a broadcast channel, and probing the value of Facebook/MySpace communities).

The Twitter Factor

Take a look at the Twitter numbers (in blue): Only 25 updates for @JohnMcCain vs. 262 updates for @BarackObama.

Less than 5,000 followers for John McCain vs. 121,300 followers for Barack Obama.

Boiled down to the basics: 10x more updates for Obama = almost 25x more followers for Obama.

Note: John McCain’s social networking site sadly makes zero reference to Twitter. Missed opportunity? Probably: One of the most notable effects of the McCain campaigns lack of focus on Twitter was obvious during the final few weeks of the campaign: A significant pro-Obama bias which left many McCain supporters alienated on the exploding live micro-blogging service. Instead of feeding John McCain’s social-media savvy army of supporters on Twitter, his campaign left them with little to do but huddle together and stand fast against a deluge of pro-Obama chatter. Imagine what YOU could do with 5,000 organized followers/customer/fans rooting for you on Twitter. Not understanding the value of these channels most certainly cost the McCain campaign dearly in the final weeks of leading to the Nov. 4 elections.

Why should anyone care about Twitter? One word: Numbers. According to stats provided by compete.com last month, Twitter’s year-over-year growth clocked at 573% in September 2008 vs. Facebook’s very respectable 84% YoY growth and MySpace’s negative 15% YoY growth. (Yep, MySpace’s unique visits are apparently shrinking.) Twitter’s growth is staggering.

At this rate, it may take less than 3 years for Twitter’s estimated 2.5 million* visitors to reach Facebook’s current 100 million* mark. When you consider that presidential elections can be won or lost by just a few thousand votes, it doesn’t take a social media expert to understand the extent to which Twitter WILL play a vital role in the 2012 presidential race.

* Worldwide numbers. Not US numbers. It is estimated that approximately 40% of Twitter users are in the United States.

Below: Twitter demographics (usage by age and gender). If you’re a student looking for a cool project involving social media, overlay this data with voter demographics and see what you find out.

2510539719_6e0af78a8a

To understand the full extent of the Obama campaign’s digital and social media strategies in these historic elections click here: Blue State Digital’s case study on the Obama online campaign is pretty comprehensive. (Political science, communications and marketing students will be studying this for years to come.)

Read Pete’s full post here. Great stuff.

Have a great Friday, everyone! 🙂

Read Full Post »

How smart businesses are learning to combine “traditional” media and new “social” Media Channels to grow their brands:

Interesting slideshow from Austrian-based Knallgrau in which the company outlines some of the social media strategies and tactics they used in helping BMW seed interest in new X1 concept and promote its launch. Not entirely crystal clear (not bad for non-native English speakers though) but still pretty helpful in outlining how to incorporate new media channels into a complete 360 communications plan – especially if you are still new to social media/new media. Essentially, here’s how to break it all down:

Traditional media channels: The first three bars on the graph (left to right). Television, Print and Radio. Some basic attributes:

  • High costs
  • Closed (Monologue)
  • Emphasis on quantity instead of quality in intended audience (reach-to-transaction conversion is <10%)

Social media channels: The long tail of the reach & depth curve, including Search, Blogs, Podcasts, YouTube, wikis, Twitter, Facebook, virtual worlds (like Second Life and even World of Warcraft), active communities and networks, etc. Note that new media channels are getting thicker (much broader reach) and also more more specific (deeper and well defined) – both good things if you care about who your target audience is. Basic attributes:

  • Fractional costs
  • Open (two-way conversation/dialogue)
  • Emphasis on quality AND quantity (reach-to-transaction conversion >10%)

It is important to note that new media/social media channels are not intended to replace traditional media channels. If anyone tells you that traditional media is dead, they’re hacks. Don’t listen to them. The reality of media channels is simple: All channels have value, all channels address specific needs, and all channels need to be used intelligently in order to get the best possible results. Turning your back on any channel for any reason is basically turning your back on an opportunity to grow your business. It’s just silly. Truth: If a channel hasn’t worked for you in the past, it probably isn’t the channel’s fault. It just means that you haven’t yet found a way to make it work for you and your business. There’s an easy fix to that: Try again… and ask for expert help if you have to.

Whether you are developing your own media strategy internally or looking to hire a social media consultant to help you tackle this new marketing toolkit, remember to always look for a healthy balance in all things: Don’t put all of your eggs in one basket (traditional media or social media). If there is one concept that you need to take away from Knallgrau’s presentation, it is the concept of “seeding”, which is purely a breadth strategy: In order to maximize your reach (or even understand what channels work best for your company), you need to seed your brand across as many channels as possible. If you can take a step back for a second and look at every channel as an investment (which it is), what you have to do is use simple logic: Don’t put all of your eggs in just two or three baskets, especially when you know that the price of entry is high, and the dividends aren’t all that stellar. The smart strategy is simply to diversify your marketing channels portfolio.

Once you’ve identified which channels seem to be catching on (getting some sort of positive and quantifiable result), THEN start working on depth within those channels.

This takes a little bit of THINKING when it comes to mapping out how these channels will work for you. Hire someone who can help you make sense of this if you need to, but be cautious: With “social media” being the hottest marketing keyword right now, self-professed “social media experts” are popping up like a bad case of teenage acne. Unfortunately, most of them are anything but.

Nb: My bit of good karma for the day: If you are looking for a solid social media consultant/practitioner either in your area or your industry, shoot me an email and I will help you connect with the right person or company. The list of real practitioners is still pretty short, so it shouldn’t be too difficult to get you properly hooked up. My email: olivier@f360photo.com

Making it all work: Traditional Media and Social Media require different languages and mindsets.

While we’re on the subject of keeping the hacks away, it is very important for me to point out that the type of communication between companies and customers (or rather brands and people… and more people… and even more people), that takes place across new media channels is fundamentally different from the type of communication that occurs within traditional media channels. In the latter, messaging is king, and messaging is essentially a monologue. Conversely, the type of communication that takes place across social media is instead a dialogue. A conversation. The two require distinctively different approaches, and therefore two completely different mindsets. The danger in relying on self-proclaimed “social media experts” is that most come in two very distinct and equally ineffective forms:

  1. The ad/PR agency who has finally hopped on the bandwagon about a year or so ago because everyone else was adding “social media” to their list of services. This breed will typically charge you hefty fees to set up a blog, create a community site or two, maybe even use Twitter as a means to send out press releases, but then nothing will come of it. They will get you into the right channels, but then use them the only way they know how, which is to treat them like traditional media channels. The result: Zero impact. Not only will you will have wasted valuable time and money on a poorly executed plan, you will also walk away convinced that social media is a worthless fad. This happens A LOT. It’s pretty much reached epidemic proportions right now. Way too many companies fall into this trap and I want to see it stop.
  2. The Social Media cultist who keeps proclaiming that traditional media is dead. (Not in the real world, it isn’t.) I fell for that line a few years back when I realized the cost-benefit of social media, but I’ve gained enough experience and insight since then to realize that we were a little premature in declaring advertising and PR dead. (Thank goodness too.) These guys might convince you not to spend one more penny on advertising or PR. They will quote a handful of great examples of very well known companies that have grown their brands without resorting to traditional media channels… but those are few and far between and probably don’t apply to you. Truth: The vast majority of businesses can’t survive on social media alone. Even Apple – arguably the most successful superlovebrand whose fans will line up for days to spend their mortgage payment on its latest i-gottahaveit bit of design genius – spends a small country’s GDP on advertising. Starbucks, which for years never bothered with any advertising whatsoever is spending money on billboards and TV ads now. In spite of what these folks will tell you, social media is not the second coming.

In either case, it isn’t that the professionals you are dealing with are dishonest or out to “get your money.” Not at all. Most of these folks are trying to make an honest buck and they do want to help you. It’s just that they don’t really know how because they only have a portion of the equation figured out. Unfortunately, without the whole thing, you’re kind of screwed. You could equate it to toeing the start line of a marathon with only one running shoe, or having only trained to run 13 miles instead of the full 26.2. Sure, you might survive, you might reach the finish line, but at what cost and in what shape? The objective here isn’t for you to survive and gut it out just to say you spent some time in the race. The objective is to get ahead. To win, even. You don’t stand a chance if you don’t really understand what you are getting yourself into right from the start.

Here’s a tip: True social media practitioners a) understand the value of both traditional and new media channels, b) know how to get the most out of both traditional and new media channels individually, and c) can help you blend traditional and new media channels in order to maximize results and achieve your business goals. In other words, look for someone who knows how to strike the right balance for you, and NOT someone who will steer you towards one extreme or the other.

Straight talk and common sense: What this discussion all boils down to.

Back to the point: If you own or manage a business, learning how to incorporate new media channels into your existing marketing strategy is absolutely vital to your business’ future.

Especially in this economy.

Having an intelligent, balanced and well executed growth strategy that leverages both traditional AND new media will save you money, improve your brand equity, grow your market share, boost customer loyalty and engagement, and provide you with countless opportunities to increase your overall sales numbers. Period.

All of this is actually pretty simple to incorporate into your business… as long as you have a trustworthy and knowledgeable friend on your side who can guide you through it.

If you commit to learning how to make your company or marketing department smarter and more efficient through a combination of old and new tools, surround yourself with the right people with the right mindset and experience, and truly commit to kicking some ass (in the right way), very good things will happen.

Trust me, just like every other company out there (big and small) that has figured this out already, your modest investment in expert assistance (either by partnering with an expert or adding one to your team) could pay off BIG in no time. The alternative is to do nothing, continue to invest in an incomplete marketing portfolio, and hope that business will magically get better. (Good luck with that!)

Shoot me an email, and I will hook you up.

Have a great Monday, everyone!

😉

Read Full Post »

UK-based cScape has just released the results of their 2008 online customer engagement survey. Fantastic data and insight from people who obviously know what they are talking about.

Per Richard Sedley, director of cScape’s Customer Engagement Unit:

A starting point for any online customer engagement strategy is gathering data. It is crucial to find out what your customers do when they visit your site – and not base it on guesswork. So how do you know what to look for? The first step, before measurement and analysis, is to identify which data you can act on in a way that will actually benefit your customers and yourself.

Many businesses suffer from ‘metric paralysis’; they collect too much data which they just don’t have the time or know-how to learn from. While this mass of data can look impressive, it is hardly ever used effectively to improve the customer’s online experience, or overall business performance.

Metrics should be actionable. They should give you specific insights into your visitors’ behaviour so that you can take appropriate action based on that information. But even metrics that are actionable don’t do anything in and of themselves to improve a site. They simply bring out positive and negative indicators. To change things for the better requires an organisational structure whereby appropriate measures can be taken.

Even if you don’t have the time to read the entire thing, you will at least get some great insight from the many charts used to illustrate some of the study’s findings. Some examples:

Be sure to read and share this thorough, insightful and infinitely valuable report here. (Or click on the top image.)

Read Full Post »

An astute brand valuation reminder from Tom Fishburne today:

“If you act enough like a commodity, sooner or later consumers will treat you like one.”

(Yes, even in uncertain economic times.)  BOGO isn’t for everyone. Don’t fall into that trap.

Read his post here.

Read Full Post »

Excellent article from Bob Garfield in AdAge on the subject of data mining + inspired analysis = serious monetization. (Hat tip to Scott Templar.)

Here’s a taste:

Volunteered data, priceless as it is, nonetheless takes a marketer only so far. To create a genuine bond, an intimate relationship, requires a thorough understanding of consumer behavior, consumer interests, consumer sentiments, consumer moods, consumer movements and so on — not the sort of information that you can put in a sign-up form, even if anybody were patient or generous or honest or self-aware enough to part with it. This requires what Sherlock Holmes called deduction. Also a bit of extrapolation, inference, intuition, divination, prediction and imputation. Or, put another way, guesswork.

[…]

“Let’s say you’d been on eBay three days ago and searched for a particular term,” [Matt] Ackley [ VP-net marketing at eBay] says. “We store that in the user’s cookie, so when we see that user out on the web again and we’re serving an ad — on Yahoo Mail, for instance — we’ll see that cookie. What we then do is pass that information to our banner ad. Now our banner ad is not a banner ad at all; it’s a miniature application. And what it does is then goes to eBay and finds items that are like that keyword and pools them into the banner ad.”

But beyond ad optimization, there is so much more going on. For instance, eBay algorithms intuit gender from the user’s first name and age from the shopping categories chosen.

“We know young people buy iPods and older people buy Longaberger baskets. This is the type of information you can tease out. Well, if you know somebody’s age and somebody’s gender and what kind of categories they’re active in, you can more or less predict what they might be looking for next.”

[…]

“We no longer have to rely on old cultural prophecies as to who is the right consumer for the right message. It no longer has to be microsample-based [à la Nielsen or Simmons]. We now have [total-population] data, and that changes everything. With [those] data, you can know essentially everything. You can find out all the things that are nonintuitive or counterintuitive that are excellent predictors. … There’s a lot of power in that.” [Dave Morgan, founder of Tacoda, the behavioral-marketing firm sold to AOL in 2007 for a reported $275 million.]

[…]

Reed Hastings, founder and CEO of Netflix, [describes] not only his company’s methods but also the essence of collaborative filtering, which is one of the “ABCs of predictive marketing.” B is behavioral: tracking your path online. C is contextual: paying attention to keywords, and A is associative: divining your tastes and interests based on patterns established by people like you.

If Netflix can figure out I admire “Manhattan,” “Strictly Ballroom,” “Happiness,” “The Girl in the Café” and “Downfall,” how badly can “Rabbit Proof Fence” and “Fitzcarraldo” disappoint me? The consequence is a great boon to me: easier selection process, fewer duds. It’s an obvious boon to Netflix, which had 239,000 subscribers when Cinematch was launched vs. 8.4 million today. And it is a veritable godsend to the movie industry — not to the Hollywood-studio part of the industry; “Spider-Man 17” or whatever will do just fine on its own. Netflix’s impact is on cinema’s everything else, the so-called Long Tail of moviemaking.

The Long Tail is the coinage of Wired Editor Chris Anderson, whose seminal 2004 magazine article on the subject yielded an ongoing blog about it, which in turn yielded a best-selling 2006 book about it — the “it” being how digital technology has ended the near-monopoly on distribution enjoyed since the Industrial Revolution by mainstream blockbusters at the expense of niche goods and services. The fat head of the Long Tail is “Spider-Man.” Way, way, wayyyy down in the skinny middle is “Fitzcarraldo.” But now I can rent them both in one click.

[…]

Compare prefiltering, then, to post-filtering — collaborative filtering — which, with the ultimate benefit of hindsight (it operates only in hindsight), knows everything. This is especially useful in a digital, Long Tail universe of seemingly infinite choices. Like my friends, former Soviet refugees, who walked into their first American supermarket and burst into tears, we are easily overwhelmed by the astonishing array of items on the internet’s virtual shelves. This phenomenon is often described as “information overload,” but Clay Shirky, author of “Here Comes Everybody” and professor of new media at New York University, says that’s not quite right. We suffer, he says, “not from information overload but filtering failure. The minute people are exposed to reality, they freak out. What collaborative filtering does is replace categorizations with preference.”

To truly appreciate the article in its full glory and start divining ways to apply some of the lessons learned here to your own business, go here.

Have a great Monday!

Read Full Post »

« Newer Posts - Older Posts »