Christopher S. Penn – Marketing AI Keynote Speaker

Tag: Marketing

Pixelated Business Marketing Conference

Pixelated Business Marketing Conference

A while back, Mitch Joel posted his Pixelated conference series, a collection of seminars and sessions from conferences that contain the “best of the best” for any set of topics. I’ve been so busy doing stuff that I never got around to putting mine together until now. This version of Pixelated is focused on Business Marketing – ideas from sales, marketing, branding, and new media that should help any business do things a little better.

If this were a conference, a real life conference, I have no doubt that attending it would cost you thousands of dollars, at least for the first sessions. Thanks to the exceptional generosity of conferences and events who post their sessions, you can enjoy some of the best content on earth without leaving your chair.

Treat this as an actual conference. Take a day or half a day to watch the videos and give them your undivided attention. Have a bottle of water, a notepad, and an open mind as you watch the sessions, as if you were actually there.

Rather than just a pile of videos, I’ve also added brief annotations about why I think each session is important.

Updated: refreshed for July 2010, with some new sessions from TED and other shows.

Pixelated Business Marketing starts… now.

Seth Godin @ TED: This is Seth’s newest set of perspectives, based on his book Tribes. The evolution of marketing from mass media to hero culture of sorts.

Rory Sutherland @ TED: An amazingly funny and insightful talk about the creation of non-tangible value.

Malcolm Gladwell @ TED: This session ranks super high on my list because Malcolm gets you to think outside the box. What product or service do your customers deeply want but don’t know it?

Joseph Pine @ TED: If nothing else, this talk should make you think about what experiences are and how to give them to customers, rather than products or services.

Dan Ariely @ TED: Dan’s book, Predictably Irrational, is the basis for this talk about how our decision processes are flawed, including why consumers buy things they really shouldn’t.

Garr Reynolds at Google Talks: Garr is the author of Presentation Zen, a phenomenal book that asks you to look at how you present information and how you can make your presentations better, more impactful, and less boring.

Avinash Kaushik at Google Talks: Avinash is pretty much THE bottom line when it comes to web analytics. In this talk he goes over a good chunk of his book and also talks about data-drive corporate culture and its importance.

Seth Godin @ Inbound Marketing Summit: Seth is a master marketer. His talk goes over how you can make your products or services more remarkable.

David Meerman Scott from Inbound Marketing Summit: David’s book, the New Rules of Marketing and PR, power part of this talk as he goes over how the ground is changing underneath traditional business outreach.

NEDMA: I talk about email marketing and social media integration.

Optimization Summit: I talk about the best practices of email marketing.

Inbound Marketing Summit: I talk about whether or not your business should be podcasting.

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January 21, 2009
Make your social media experiment useful

In reading the latest “controversy” in social media about Burger King’s ad agency tweeting on behalf of the client and the furor over authenticity and transparency, I came to this conclusion:

Burger King needs a new agency.

If you haven’t been following along, here’s the very short summary. CP+B is the agency in question tweeting as the fictional King character for Burger King on Twitter. Some social media folks object to a lack of disclosure by the agency, a lack of authenticity.

Here’s a different perspective on the issue: ROI. What in the world was CP+B thinking? I’d love to see even a back of the envelope ROI argument for creating a Twitter account for a fictional character to sell sandwiches, which is the whole point of Burger King.

Forget about transparency, authenticity, and whether or not an agency should tweet as a client. What in the world is the ROI or even apparent value of this initiative?

Here’s how I would have handled a client’s request to be engaged on Twitter: create a Twitter bot that you can message with your current location. It returns the three nearest Burger Kings so that you can get something to EAT, since the whole point of Burger King is to provide something for me to eat. I’d use it in a heartbeat when I travel. If Burger King and CP+B approached Twitter or social media in general from the perspective of being USEFUL, they’d get more sales and a measurable ROI.

It’s absolutely true that you can’t get precise ROI on social media. My work for the Student Loan Network means that ROI gets fuzzy, but the business connections, enhanced distribution of things like eBooks, inbound links, and other measurable activities are all improved by Twitter and social media. Can I put an exact dollar amount on it? No. Can I say that Twitter has improved the bottom line? Yes. Have I helped folks on Twitter get financial aid questions answered? Yes.

Be useful in your social media experiments. Don’t just do something in social media because it’s what the cool kids are doing. Do something that is useful, that serves a need, and your social media experiment will be a success.

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10 most recent blog posts of mine:

January 16, 2009
The power of brand in a recession

In a period of growth, your brand is your sword, helping you open up new markets, boldly making an impression on consumers, reinforcing the emotional aftertaste of doing business with you for good or ill. Your brand is what you brandish against competitors, demonstrating with swiftness your strengths and the reasons others should do business with you. Obstacles like barriers to entry are slashed aside as word of mouth of your brand paves the way for progress.

In a period of recession, your brand is your shield, defending you against the onslaught of market forces. Your brand reminds consumers why they did business with you in the first place, the value of business with you versus a lower priced, potentially lower quality competitor. Your brand as shield provides some cover for you to reposition, to adjust, to realign on new terrain, to bide your time until opportunity becomes apparent and it’s time to wield the sword.

If you are skilled only with branding as a sword, then the forces of recession will toast you as surely as a dragon’s breath the moment the market turns.

If you are skilled only with branding as a shield, you’ll be left behind when others charge forward to opportunity and prosperity.

How do you put this to use?

Wield your brand as a sword by creating something worth talking about, giving customers experiences that amaze them. Solve their problems. Cut away obstacles to their success. Deliver what you promise plus a little bit more. Serve them in the truest sense of the phrase.

Wield your brand as a shield by never failing to deliver what you promise, by providing great service as a defensive play, by reminding customers in as many ways as possible why they’ve done business with you and why they should continue to do so. In marketing copy and sales talks, ask customers to recount their experiences to you as a way of self-reinforcing the good. (assuming you delivered on your promises)

This above all else, though: know when it is time to advance with sword in hand or hold your ground behind your shield.

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January 14, 2009
Social media as an agent of corporate change

Social media for business is unquestionably a hot topic in the current environment. Lots of folks want to know how it can help their business, make them some money, or reduce costs, and to a degree, social media can do all that. That said, a real stealth play for social media is using its shiny object status to effect change in an organization.

Consider Fizzcrank Corporation. It’s been doing okay for the past few years with traditional marketing, from brochures to trade shows, but it’s feeling a little stagnant. Products aren’t revving quite as quickly, and buyers aren’t buying Fizzcranks at the same levels they did two years ago. Bob the marketing manager has been wanting to do more field work to see what customers want, but management isn’t willing to step outside its comfort zone. What does Bob do?

Leverage the power of the shiny object! Bob brings shiny objects like Twitter, Google Reader, and Facebook to the table and says that for no money and just some time and effort, Fizzcrank Corporation can become a leader in the Fizzcrank industry. Management is bedazzled by the shiny objects and says that as long as the no money part is true, Bob can do whatever he wants with social media. The CMO gets all excited and has a press release written (that is ignored) to announce Fizzcrank Corporation’s thought leadership in the Fizzcrank vertical.

Now the real work begins – Bob sets up his listening post tools, tying Google Reader, Twitter, Facebook, LinkedIn, and a bunch of other networks together. (see my Twitter eBook for more details on how) He sets up monitoring for keywords, starts listening for Fizzcrank in global searches, and before long finds out that customers would really like to be able to use a Overcharged Capacitor with their Fizzcrank. Bob takes the idea back to the engineering gnomes who inform him that matching up an Overcharged Capacitor with a Fizzcrank is not only simple, but a really good idea, and Fizzcrank OC is born.

Fast forward three months. Fizzcrank Corporation now dominates the Fizzcrank industry with Fizzcrank OC. Products are selling better than ever, and Bob now talks to customers regularly. Management is happy with profits. Bob is happy to be talking to real people instead of writing press releases and billboards. Customers are happy because Fizzcrank is creating products they actually need and want.

The lesson in this fictional account is that social media can be a way to introduce a cultural change in your company, away from broadcast marketing and toward listening to what your customers are saying. If you work at a company that has not developed a culture of listening, see if you can use social media as a stealth play to begin the practice – after all, your customers likely know better than you do exactly what they want out of your products or services.

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10 most recent blog posts of mine:

January 13, 2009
Social media marketing is not cheaper

Much has been made of 2009 being a year of frugality for marketing departments and social media becoming the new darling for budget constrained companies. That said, I want to throw a contrary viewpoint out there: social media marketing is not necessarily cheaper than other forms of marketing.

What social media marketing achieves is a trade of time for cash. If you’re capital constrained, you’re going to be trading big cash spend for big time spend. If you’re okay with that, if you have the personnel resources to spare, then social media marketing is going to work well for you.

Social media requires a hefty investment of time, and even in the best of times has a squishy ROI. You can’t load up a social media marketing plan like you can an email marketing plan and say that if we post this item to Facebook or we Twitter this web page, it will result in 354 clicks to our product page and 14 purchases. You can do that with reasonable confidence with email marketing – you know what your open rates are, you know what your clicks are, and you know the revenue behind a click. There is no such formula or set of statistics for social media.

One of the catches in tough economic times is a stronger demand for ROI – making sure scarce resources are well-allocated. How do you calculate social media’s ROI?

We do know the market value of some items in social media; an inbound link from a certain class of web site carries a market value (in terms of what it’d cost to buy that link) so if you can get one for free, then that inbound link’s value can be directly attributed to social media’s ROI if the link couldn’t be obtained any other way. I know that if Chris Brogan twitters this blog post, there’s an audience of 26,566 that will briefly see it in their Twitterstream; on a CPM basis, I know that I would have to pay a certain amount for access to the same size audience. If he went a step further and asked you to link to it from your web site, then I’d have additional hard ROI I could build into my numbers.

Even with that, the ROI is tough to crunch. I wouldn’t necessarily make a business decision for social media based on those numbers, would you?

If you’re looking to get impact out of social media marketing, take a hard look at what you’re doing right now inside your company using more expensive channels and see where social media marketing might make a difference. For example, in my own work at the Student Loan Network, we’re always looking for great partners to work with; having a prominent LinkedIn network (cspenn at gmail dot com, all requests accepted!) is a great, low-cost way to find new partners to work with. Twitter has transformed from a big chat room to an honest-to-goodness source of lead generation and link building. Blogging is pure SEO food, podcasting has built the name of the company in the industry far beyond what should rationally be possible without massive ad spend, and the connections made through events like PodCamp, Podcasters Across Borders, and other conferences have driven incredible business connections.

I would argue that social media marketing isn’t cheaper per se. What I would argue is that it opens new, different doors and gives you opportunities you might not otherwise be able to generate without far more cash resources than you have access to, and therein lies its true value.

If you’re in marketing, how are you presenting why social media marketing is right for your company? Comment below! (comments are moderated but will be approved pretty fast)

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December 16, 2008
The soul of marketing

So here we are. The economy’s down, business everywhere is in trouble, prospects for the future look dim at best. What’s a marketer to do?

The thing to do is to take a moment and strip away everything in marketing that doesn’t matter. Put down for a moment ROI, analytics, metrics, conversation, social media, direct mail, campaigns, all the buzzwords that we insist upon. Put all that away because it clouds our vision.

The soul of marketing transcends all of this, all the technology, all the distractions. The soul of marketing can be boiled down into a simple three part creed. If you work for a great company, this is a formalization of what you already know.

I believe in myself.
I believe in my community and our ability to mutually succeed.
I believe in what I have to share.

I believe in myself. This is where you start. I believe in myself, I believe that I am larger, stronger, more powerful, more capable than any downturn, than any financial crisis or sagging economy, because I believe that I can make things happen in any environment, but especially in a challenging one. I believe that worry, doubt, and anxiety are largely mental limitations and I believe in my ability to go beyond my limitations.

I believe in my community and our ability to mutually succeed. I believe in my coworkers, that we share a common purpose to be successful, to do good, to help each other succeed. I believe that the more I share with my community inside and outside of my company, the more I receive in return unasked. I believe that giving is the greatest pathway to gain, and what I have, I have to share in order for everyone to prosper.

I believe in what I have to share. I believe in the company I work for and the products and services we have to offer. I believe that our goods and services legitimately improve the lives of the people who use them responsibly, and I believe that the company I work for stands behind our shared ideals. I believe that at the end of the day, our community, our customers, and our world is better for us having done business in it, and prosperity will be the natural by-product of the true value we create.

If you can wake up every day and affirm this creed truthfully to yourself, if you can look a coworker, colleague, or supervisor in the eye and feel these truths in action, then no amount of economic hardship will be able to slow you down.

If you wake up one day and you can’t affirm this creed, then you have to either change how your company does business or you have to change companies to one that does business in alignment with your ideals.

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10 most recent blog posts of mine:

December 9, 2008
The cold call receives the cold shoulder

I got yet another cold call at the office today. The sales drone on the other end, as soon as they confirmed they got a live human being, immediately launched into their pitch.

“Mr. Penn, I’d like just 15 minutes of your time to go over your telecom needs and introduce you to SomeRandomCompany, a leading national provider of…”

I lost him after the leading national provider. I think he went on for about 2 more minutes before pausing to ask when he could schedule an appointment to waste even more of my time, after which he got a polite and very brief “thanks for calling, please remove me from your call list, happy holidays, good day sir”.

Another mutual waste of time. Even if I had telecom needs, I wouldn’t use his services. Why? I despise being interrupted at work (we’re busier than ever at the Student Loan Network!), and nothing is worse than cold calling, whether on the phone or in person. (office supplies sales drones, I’m looking at you)

These folks are trying old school interruption marketing and it just doesn’t work any more. Why? If I don’t have telecom needs, then you’re just wasting everyone’s time. If I have telecom needs, I’m not going to wait for someone to interrupt me. I’m going to go to Google, type in telecom companies near 02169, and see what comes up. Simultaneously, I’m going to use Twitter or LinkedIn to ask trusted business associates who they use for their telecom and if they’re happy with them.

Are you still using interruption marketing techniques? You shouldn’t be – partly because I’m sure you’ve seen their effectiveness decline, but also because there are better ways to market. I had another guy leave a spam comment on my blog advertising his expert SEO services. I guarantee if I Google SEO expert, he won’t be in the top 3 results.

The very best thing you can do as a business looking to make a marketing move is to have something worth talking about that’s amazing. Do something amazing. Do something useful. If you’re a telecom who wants my company’s business, fine. Do something so incredible that I won’t ever look anywhere else.

Look at a company like Hubspot and their Web Site Grader. It’s a great, free tool that is amazingly good at what it does, and if I ever needed inbound marketing services, I wouldn’t even bother calling anyone else. If their free product is this awesome, their paid products must really rock the house.

I love the service I get from Blue Sky Factory for email. (full disclosure, they sponsor Marketing Over Coffee and PodCamp, and the Student Loan Network is a client) Name another email service provider that lets me IM tech support AND the CEO whenever I need help, and has a Twitter outpost that lets me hit them up for non-urgent stuff. When I was doing due diligence pricing research recently, one email provider’s live chat was with a customer rep who had no interest in answering my question about price. They stuck to script despite the fact that their answers had nothing to do with the questions I was asking that they didn’t even make it onto the short list. As my friend Chris Brogan said, customer service is the new PR – and your customer service has to be amazing.

Part of my work at the Student Loan Network is to bring a little of that magic to the student loan industry. We crank out eBooks like candy, like the new FAFSA line by line eBook and the Scholarship Search Secrets eBook, plus participate on all the major social networks so that we can be found. If you’re not interested or looking for student loans, that’s fine. I don’t want to interrupt you. If you are looking for student loans, then it’s my aim to have built presence of mind with our free goodies that will put us at the top of your short list.

The takeaway for you is simple: what can you do that’s amazing? What can you do that will absolutely dominate mindshare in your vertical and make you the painfully obvious choice for anyone who needs your products or services?

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10 most recent blog posts of mine:

December 8, 2008
Web design and photography assessment tip

How effective is a web design?

How effective is a photograph?

Here’s an easy way to tell. Load up your web site of choice on a mobile browser. Hold the device at arm’s length. If you can’t immediately pick out the call to action and get a sense for what the site is about, then your web design isn’t amazing.

The same is true of photography. Load up your photos in iPhoto or Picasa or the thumbnail browser of your choice. If at a glance not a single photo stands out, then your photos don’t have the famed Tom Peters’ Wow! factor.

The very best way to test this out is to do it with other people. Load up your sites or photos on the mobile device and ask someone to quickly take a peek. If they’re not getting the message you want, then it’s time to go back and sharpen the pencil.

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December 7, 2008
I endorse Truffa brand bottled water!

Check it out.

Truffa brand purified drinking water delivers refreshment like few other bottled waters. Inspired by the Italian village of San Pellegrino in Terme, Truffa starts with delicious cold water from the same source as the famed Ice Mountain waters, a highly publicized and recognized source of great water.

We don’t stop there, though. Truffa is triple filtered in a unique processing system for bottled water, involving state of the art styrene methyl methacrylate copolymer filtration systems, food-grade activated carbon, and ion resin exchanges.

After that, in yet another advance in purified drinking water, Truffa brand purified drinking water is energized with a powerful 21% oxygen mixture to provide a clean, crisp taste.

Unlike other bottled waters, Truffa brand purified drinking water is artisan-crafted, all natural, and strictly supervised by experts throughout the purification process to ensure that you get only the best, most refreshing water possible.

Once crafted, Truffa is bottled in elegant solid glass to ensure that no impurities from manufactured plastic corrupt the purity of our water on its way to you.

Of course, a water this sophisticated and pure isn’t for everyone. But for those who choose Truffa, it’s unparalleled refreshment.

Does this sound good? Would you buy this?

Here’s the part that you don’t see.

Truffa does not exist. It’s an Italian word for scam. Bottled at the same source as Ice Mountain? That’s Framingham tap water, courtesy of the MWRA. The SMMC filtration system? Styrene methyl methacrylate is the long name for the plastic that a Brita pitcher is made out of. 21% oxygen mixture? That’s the natural amount of oxygen in the air. So here’s what’s behind this bottled water:

1. Put tap water into the Brita.
2. Pour filtered tap into a glass bottle.
3. Shake briefly.
4. Resell at ridiculous markup.

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10 most recent blog posts of mine:

November 12, 2008
Crystal clear, sparkling bottle of marketing

I’ve often said that cutting bottled water out of your budget will save you money, and it’s a topic that’s come up on the Financial Aid Podcast, but I’m really amused by this story in the Metrowest Daily News.

The water coming out of the sink in my kitchen is Ice Mountain’s source as well – the MWRA municipal source for metrowest Boston, filtered the same as I filter my water at home.

I got a real kick when I saw the marketing on the Ice Mountain web site:

Slick, well made, and the claim that you could have Ice Mountain delivered to your door for just a dollar a day was awesomely funny – when you do the math, 4 bottles of 5 gallons each for $32 works out to$ 1.60 per gallon. Why? Because that’s my tap water, and the tap water of just about everyone who lives in the metro Boston area.

Figure that you can buy Brita filters on Amazon for $16 or so for 120 gallons of capacity (more, actually, since these filters can easily do 80-100 gallons). That puts your cost per gallon around 13 cents if you go by manufacturer’s filter life ratings. Add in the cost of water -$ 763 for 61,000 gallons, and you’re at 1.3 cents per gallon.

So do the math. $1.60/gallon for home delivery of the same water you can get out of your Boston-area faucet WITH filtration for 14.3 cents.

Only marketing can make a 10x markup like that work and still get consumers to buy product by the truckload.

Oh, and those individual bottles? If you pay $1 per bottle at 16.9 ounces, you’re talking about paying$ 3.78 per gallon of the same water – a 26x markup.

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November 11, 2008

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