Tag: Marketing

  • The easiest way to drive growth

    What’s the secret formula, the special power, the magic bullet that will drive growth, especially in new media and social media?

    It’s really simple.

    It’s really easy.

    It’s also very difficult for too many people and companies to ever bother doing.

    Be helpful.

    Here’s the thing about promotional efforts online, about marketing online. There are all kinds of different emotions and mindsets you can market to, but they all come with risks and niches that are difficult to hit accurately on a routine basis. Doing a video that you want to go viral? You can try for funny, but sense of humor is tricky. You can go for provocative or peddle sex, but you’re going to lose some people there and you’ll have to handle people who are seriously offended by your perceived lack of taste. You can aim for outrageous, but more often than not, your efforts will simply fall flat. Mark Yoshimoto Nemcoff recently wrote a great perspective on why things do or don’t go viral and the reasons behind them – give his article a read.

    It’s hard to hit sexy, stupid, funny, or outrageous. It’s hard to get the mix just right.

    It’s easy, by contrast, to be helpful. Helpful is far more universal than sexy. Helpful is far less likely to engender outrage than badly formed humor that comes off as insulting or offensive. Helpful is something that is instinctively wired into many people as part of the culture.

    Helpful is valuable, because we all need help with things. We all need advice or a solution to a problem, and if you’re helpful, if you behave in a manner that legitimately helps me whether or not you make a sale, you’ve created value. If your product or service is powerfully helpful, it will practically sell itself. Take a look at Trust Agents, Chris and Julien’s book. Look at the movement around it that’s been fed by the authors’ focus on being helpful long before the book was even created.

    Helpful is self evident. If you’re debating whether something you’re doing is helpful for your customers, then it’s not. If there is a question in your mind about whether a product or service is helpful for your customers, the answer is no, it’s not helpful. If you ask someone else at your company whether a decision is helpful or not to your customers and the answer is longer than yes – particularly if it’s a long, convoluted justification, then the answer is no. Helpful is obvious.

    You can spot a company that’s in its death spiral incredibly easily. Just look at their decisions on a spectrum of helpfulness. If a decision or action is authentically helpful to its customers, that business will grow. If a decision or action is designed to reduce helpfulness to customers, that business is eventually dead meat. Cut back on customer service or call center staff? Dead meat. Make it hard for a customer to talk to a human being? Dead meat. Increased marketing budget but decreased quality control budget? Dead meat. Increased prices but decreased store hours? Dead meat. Eliminate useful features of your service to cut costs but you’re flinging press releases around like crazy? Dead meat. Focused all your efforts on marketing instead of creating helpful content, products, or services? Dead meat.

    Here’s a test to see if your own company is in trouble. Read your company’s web site and its newsletter. If you can’t find one thing in each outlet that isn’t legitimately helpful with no strings attached, you’re in serious trouble and you might want to think about polishing up your resume if you can’t incite change internally.

    Helpful costs. It requires time, energy, money, and resources to focus on how you can help your customers, and very often it’s at odds with the beancounters demanding ROI on everything down to the spoon in your coffee cup. Helpful, however, is an investment that is becoming mandatory in the digitally social sphere, because real time search and real time reputation mean that your old marketing tricks are losing steam and fast. Google, Facebook, and Twitter are already demonstrating that. Only through creating authentic, real value can you remain competitive in the hyperspeed environment of the real time Web, and the fastest, easiest, and most convenient way to create value is to focus on being helpful.

    How do you know when you’re succeeding at being helpful? Sales will go up, sure. More people will link to you, blog about you, Twitter about you, sure. But you’ll know when you’re truly being helpful when you receive gushing emails, notes, blog comments, and letters from your customers thanking you for your very existence. Those trophies are a great metric to determine if your efforts at being helpful are working.

    How can you turn around your business or propel it to the next level? Refocus on being helpful.

    You’ll sleep better at night, too.


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  • Marketing to stereotype or reality?

    Here’s an interesting question. In marketing, especially mass, B2C marketing, we make a lot of assumptions based on “studies”. I’ll give you an example from the student loan world. When marketing student loans, a number of studies say that if you are going after the Hispanic market, you should use photographs and language that shows multiple generations of the family, as opposed to just parent/student or student by themselves. Some of this dates back to a 2005 study by Sallie Mae on decision factors for Hispanic students in borrowing for college which said that Hispanic students tend to make financial decisions in favor of borrowing with the advice and guidance of parents and grandparents.

    The question is, is that accurate? Is using any kind of ethnosocial marketing effective, and if so, how do you determine which studies are reliable?

    Do you risk giving offense to a targeted demographic if you’re marketing to a stereotype that came out of a study that might have been less than scientifically valid?

    If you do any kind of demographic targeted marketing, I’d love to hear how you handle these kinds of things.

    Full disclosure: I work for the Student Loan Network, a student loan company, and anything I say should be assumed to be biased towards my company because we’re awesome.


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  • 5 tips for dominating local

    Five basic tips for dominating local. If you’re a local business, local musician, local event planner, local anything, you need to try these methods.

    1. Optimize your site or microsite for local. Buy a local domain name, like Boston Martial Arts. When people are searching for generics, they’ll Google for your locality and the generic term – and chances are generic terms are more likely to be available at the local level.

    2. Register for local. Set up your Google Local Business Center. Get events into local calendars like Craigslist for your city.

    Google Local Business Center - Analytics

    3. Recruit local. Hit up local message boards, follow people locally on Twitter, find discussion groups and email lists that are local and introduce yourself to your community.

    Local following

    4. Be at local events. Attend things like PodCamp Boston (if you’re in Boston, obviously), or create your own PodCamp, BarCamp, TEDx, or other event for your area.

    5. Go local offline. Got a business you’re promoting? Look at local delivery systems to enhance your business. One of my friends who is an avid local marketer promotes his business through an online and offline affiliate program, and gives affiliate coupons to other local businesses. His biggest success? A local florist shop includes his coupons in their deliveries. The florist gets affiliate fees if the customer signs up, he gets free marketing, and the customer gets his business if they want what he has to sell – and the sell is slightly easier because the arrival of flowers tend to brighten moods to begin with.

    What are your local tips and tricks?


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  • What Warcraft's wool cloth should teach you about marketing

    I’m an avid gold-maker in World of Warcraft. Like real life, the amount of gold you have in the game is a direct measure of how much value you bring. If you quest like mad and rack up thousands of gold, you’ve got the skills and the time to complete lots of quests. That’s value. If you farm materials like in-game consumables, you’re generating value for other players who don’t have to spend their time farming, and the gold pours in. If you play the Auction House, knowing your markets and trends, you can arbitrage items that are sold for unusually low prices by players that don’t know better and resell them at market prices – and the gold pours in.

    What I want to highlight today, though, is an important aspect of the gold making game. Take a look at the top 5 items I’ve sold in game recently:

    WoW sales

    The first and fourth items are rare cloth that can be made only once every 4 days. Scarcity makes them incredibly valuable. The same is true for item 3, the Hat of Wintry Doom, because it’s made from rare items.

    The second item is an in-game pet that can only be acquired in a little-loved backwater part of the world that takes ages to get to. People pay a price premium for it because they don’t want to burn up the time and effort it takes to get there.

    What’s really important is item 5, wool cloth. For anyone who does not play World of Warcraft, wool cloth is a commodity. Not only is it a commodity, but it’s an especially plentiful commodity that most early players encounter by the bucket before moving onto more challenging parts of the game. If chess pieces wore clothing, pawns would be the ones sporting wool cloth – it’s common.

    So why is such a mundane commodity the #5 seller? Two reasons: first, it’s used by several professions in game, which means there’s consistent demand for it. Second, most players run right past the stage of the game where they’d accumulate a significant amount of the cloth in their pursuit for better, shinier objects. Thus, while it’s plentiful, most players forget about it and move on rapidly, long before they accumulate any significant amount of it.

    Consistent demand. High potential supply, low actual supply. This is a profit engine.

    So what does this have to do with marketing? How many people are searching for the shiny object, the rare, the Ebonweave cloth of marketing? Social media currently holds this crown, though a few years ago it was SEO, and before that it was email. Everyone wants into the new, the shiny, the really glittery with the high potential payoff, and for those few that do succeed in making the Ebonweave of marketing, the payout is handsome.

    But.

    But there’s more than enough money in the marketing equivalents of wool cloth. In the rush to social media, people forgot search optimization. In the rush to search optimization, people forgot email marketing. All along the way, there are lots of valuable methods that generate real results and real income, and those rushing to reach Grand Master Social Media Marketer are leaving money and opportunity on the table.

    Remember your wool cloth. Revisit the things that used to be hot and see, now that they’ve reached maturity, just how quietly profitable they can be. Some things won’t be any more, but some things perceived as a commodity could still be one of your best sellers if you’re good at it and the attention deficit crowd has moved onto whatever new shiny has appeared for the day.

    Good luck farming your wool cloth.


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  • What the Tacoma Narrows Bridge should tell you about your marketing

    Resonance:

    Mechanical resonance is the tendency of a mechanical system to absorb more energy when the frequency of its oscillations matches the system’s natural frequency of vibration (its resonance frequency or resonant frequency) than it does at other frequencies. It may cause violent swaying motions and even catastrophic failure in improperly constructed structures including bridges, buildings, and airplanes a phenomenon known as resonance disaster. – Wikipedia

    Resonance, demonstrated at the Tacoma Narrows bridge in Washington State, 1940:

    Resonance disaster can occur in more places than the physics of bridges. Resonance disaster – and success – can occur in media.

    Take an example like United Breaks Guitars. This video would have flopped miserably if the airline industry’s service was superb. No one would have spread the message. But the video and campaign resonated with people, deeply. People who had bad experiences with airlines and luggage spread the video like wildfire, and the mainstream media (many of whom are frequent travelers themselves) boosted the video even more.

    Media resonance is when a message matches the pre-existing message within the audience and as a result the power of the message’s absorption is amplified, in the same way that an opera singer’s voice can match the resonant frequency of a crystal glass and shatter it, or the wind-induced vibrations can collapse a bridge.

    Resonance is at the very heart of what messages are sticky, what messages spread, what messages will go “viral”. A message that resonates with its audience will be amplified by the conditions within the audience and rapidly escalate beyond anything the message creator anticipated.

    How do you determine resonance as a marketer? Lots and lots of research and human life experience. Research using tools like Google Trends, Google Insight for Search, Google Adwords Keyword Tool, and any other mood or sentiment indication tool to determine not only what’s on people’s minds, but how they say it. Deeply examine your own life experiences for things that piss you off, things that delight you, things that resonate with you, and extrapolate your own experiences to larger human characteristics. Look at messages on Twitter that are retweeted and become trending topics for what resonates about them. Watch the long-standing hit movies that retain their hit quality decades after release. Immerse yourself in what resonates with people and you’ll have a very good idea over time of what messages will resonate and what messages will not.

    Here’s the devil of resonance: most of what you market, your products, your services, the things you have for sale, probably will not resonate with people. Sorry. At best, a majority of people will be somewhat interested in what you have. Your job is not to make them care, because you can’t, any more than you can force a bridge’s resonant frequency to change (you can’t unless you tear it down and rebuild it). The best you can do is figure out what latent resonance is already in people and rethink how you present your products and services to more closely match an existing resonance, or build a new product on top of existing ones that does match the resonance of your audience.

    Good luck finding your resonance.


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  • Watching footfalls

    A tweet from Amber Naslund this morning reminded me of an interesting lesson.

    @ambercadabra: Ah, o’Hare on a Monday AM. So many friendly people. Ahem.
    @cspenn: Watch footfalls. It’s an easy way to pass time in crowds.

    What did this mean?

    Footfalls are, simply put, how people walk. Some people walk as if they’re gliding across the floor with grace; others look like they’ve just newly risen from the grave as zombies. All of the walks and footfalls are unique and are signatures of our past and present. Watching footfalls in a public space gives you great insight into the people around you.

    What’s interesting about the footfall from a ninjutsu perspective comes from a lesson in the middle level material of the Koto family tradition. There’s a moment in someone’s walk, after their foot has been placed or committed but before their weight has been transferred, during which you can strike them with relatively little force and knock them back or on their butt. Strike them sufficiently hard enough at that moment and you might even put their lights out, because the body is wholly expecting the footfall to be completed as several million previous ones were – with transfer of weight and progress forward.

    When something interrupts that deeply ingrained habit, the body has almost no idea what to do, and it’s in that moment of confusion through what should have been an orderly, predictable transition, that the ninja technique displays its power. You’re not going head to head with the person’s strength (after their weight has transferred) and you’re not attacking from too far away (before they’ve stepped) because they’ll react and adjust. Only in that moment of transition do you get an opportunity to truly take advantage of someone’s habit and knock them into next week.

    We as a society, as a culture, as a world of business are going through a similar transition and disruption now, especially in media. Our media footfalls are used to the broadcast model, where media broadcasts the message and the consumer receives it passively, then goes out and buys things they don’t need. The transition and disruption of new media has thrown a ninja strike into traditional media’s footfall, and it’s falling on its butt as we take advantage of its confusion.

    The lesson moving forward is simple (but not easy): as new media becomes mainstream, as new becomes mundane and habits form, look for the footfalls. Watch to see what traditions and rituals appear, watch their timing like you watch people in the airport, and you’ll know when to disrupt them, when their moment of transition becomes your moment of opportunity. More important, as you keep an eye towards the future, look for services, technologies, and ideas that will be the ninja strike to other present day footfalls in your industry or niche. Learn the ideas and you’ll have carte blanche to take over that niche while everyone else is catching their balance.

    Keep your eyes open and your feet on the ground!


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  • Why do we do these things?

    We hate salesmen trying to sell us stuff but we love going to street fairs with lines of merchants wanting to sell us stuff. Why?

    Quincy Street Fair

    We hate high pressure sales but we love going to expos like the Big E where barkers shout out the highest pressure pitches you could possibly ever receive. Why?

    Midway

    We hate advertisements of all kind in our media but we love tuning into the Super Bowl for the ads. Why?

    Why do we do these things? 19

    Please leave your answers in the comments.


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  • The Passion Funnel

    The passion funnel is much less dirty than it sounds.

    For every discussion of monetization in new media, there’s an equal discussion about the amateur, the practitioner who does something for the pure love of it and not for money. However, amateurs can still take a great deal of knowledge from the professional world and apply it to their work to see how successful their efforts are.

    Take an average new media sales funnel:

    Audience
    Prospects
    Leads
    Conversions
    Evangelists

    Audience is the potential number of people you can reach in any given medium.

    Prospects are the subset of the audience that is likely to be interested in what you have for sale.

    Leads are the people who have expressed interest in what you have for sale.

    Conversions are the people who commit, who buy what you have for sale.

    Evangelists are the people who are so in love with what you’ve got, with what you’ve sold them, that they incite others to become prospects as well.

    You can measure each stage, use different tools and talents at each stage, to drive sales.

    Audience tools are the channels themselves – Facebook, Twitter, email, etc.

    Prospecting uses demographics and databases to figure out who your most likely customers are, based in part on the customers you already have. If I run a Financial Aid Podcast or a Marketing Podcast, I’d better be finding the portion of audience in each channel that’s interested in financial aid or marketing. Tools like Google’s Ad Planner and Facebook’s Media Planner can help with all this.

    Leads uses your web site and associated persuasion tools – good copy, calls to action, etc. – to convince the prospects to buy. Analytics tools like Google Analytics, Clickheat, database analysis, and so forth can help you diagnose your lead generation process and figure out where you’re turning people away.

    Conversions is your sales engine, your transaction engine.

    Evangelism uses your media channels of choice to encourage your customers and fans to spread the word. Note that evangelism is driven by awesomeness. If you have an awesome product or service, if your customers are delighted, the word will spread. You might have to encourage them a little, but sufficient quantities of awesome easily convinces customers by itself to spread the word.

    Now, what if you took the money out of this funnel? What’s left?

    Pretty much everything except the transaction engine. This is a key point for any amateur: virtually every metric leading up to a sale is the same for amateur and professional. If there’s nothing to buy at the end of the funnel, there is something else that requires a level of commitment that’s non-casual. It might be showing up at a rally or volunteering your time, but it’s something that in a commercial interaction would be the equivalent of putting money on the table.

    If you don’t know what is the commitment substitute for commerce in your amateur efforts, you’ll never be able to measure your new media efforts in any meaningful way beyond eyeballs and ears. Decide what’s at the end of your rainbow if not a pot of gold, and then take all the pieces and parts from commercial exchanges and make them work for your passion.

    Photo credit: Dairy Cow


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  • Have you done your dailies?

    Have you done your dailies? World of Warcraft players are intimately familiar with this question. For those that don’t play, most of the quests in the game – go somewhere, deliver something, kill a monster – are one-and-done adventures. Once you’ve done them, they’re done and gone. Daily quests are different – each day you have the opportunity to go and do the same quest. The rewards are usually reputation, money, loot, gear, or other rewards that you want to keep accruing for your character.

    Dailies

    Here’s the thing about dailies in Warcraft – they’re important for really good rewards. For example, one of the dailies currently gets you a type of currency which in turn will allow you to buy some nifty upgrades for your character. (Argent Tournament Champion’s Seals) If you miss a daily or two, it’s not a big deal, but miss enough and your progress towards that loot is severely inhibited. The other trick with dailies is that there’s no way to catch up – miss a week of dailies, and that opportunity is gone. You can’t earn back the daily rewards, can’t catch up.

    What does this have to do with anything?

    Like Warcraft, marketing has dailies. Your boss, coworkers, or customers may not have blue exclamation marks hovering over their heads, but you have dailies – writing blog posts, checking forums, optimizing web pages, responding to customer emails, all the little chores that come with marketing on a daily basis.

    Like Warcraft, you can occasionally miss a marketing daily – but miss enough, and your business suffers badly. New business stops coming in the door, your ranking for top keyphrases in Google drops, customers stop buying as much as often.

    Like Warcraft, you can’t catch up, either. Sure, you can respond to a customer’s email a few days later – but either you’ve lost reputation in that customer’s eyes or they’ve simply gone somewhere else to buy. Sure, you can wait to respond to a media query – but chances are the reporter has gone to another source already and at best you’ll be backup.

    So how do you manage your dailies? Unlike Warcraft, you don’t get a neat, tidy list automatically (cooking daily, fishing daily, daily heroic dungeon, etc.) but there’s no reason you can’t create one. Sit down with a clipboard and look at the tasks you accomplish over a week. How many of them are repeating tasks? How many should be repeating tasks? Figure out which tasks are the high value ones – responding to customers, tweaking a web site, blogging – and assemble them in a nice list that you can print on real paper and photocopy.

    Then set aside however long you need to do your dailies. For example, I tend to do my cooking & fishing Warcraft dailies first thing in the morning, before I even leave the house for work. It takes just a few minutes and I get them out of the way at a time when the server isn’t crowded with people trying to do the same thing. Anyone who’s done the Cheese for Glowergold daily at peak hours knows how awful peak time is. Do your marketing dailies off peak, preferably before your day starts, and you’ll see impressive, sustained growth in your business (assuming your dailies are high value tasks) that wasn’t possible when you didn’t treat the tasks as dailies.

    Here’s to your daily success!

    Updated: Chris Brogan shares his dailies here.


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  • Life after 80, or what World of Warcraft can teach you about marketing mastery

    In World of Warcraft, there are 80 levels a character can reach. All characters start out at level 1, and progress via quests, killing creatures, and other activities through 80 levels, which can take anywhere from months to just a few weeks, depending on how dedicated a player you are.

    But what happens at level 80? What happens when you reach the end, and there are no more levels to achieve?

    It turns out the game changes quite a bit once you reach the top level. Instead of improving your character’s abilities through levels (and associated rewards) you change to getting better equipment for your character and improving your play skill.

    See, in Warcraft, every character has dozens of abilities depending on their class. Mages can cast a whole bunch of spells. Priests can heal, shield, and resurrect other characters. Warriors can deliver a beatdown in more ways than you can count. But during the leveling process, you typically rely on a few of these skills as your bread and butter, and the rest are skills you pick up along the way but don’t really use.

    Level 80

    Once you reach level 80, you start entering progressively harder dungeons, teaming up with a few or a few dozen other players to take down bigger and meaner creatures. This in turn requires you to dust off all those secondary skills you picked up along the way and figure out just when they’re the perfect solution to the problem at hand. Skills that you never really used on the way up to level 80, skills that you might have forgotten about completely, might make or break your ability to succeed after 80.

    What does any of this have to do with marketing? Simple. Take an inventory of all the skills and abilities you have, especially skills you’ve built along your career that you don’t use a whole lot. Take an equal inventory of all the tools and technologies at your disposal that you’ve used, tried, and experimented with along your marketing journey. Now start to view them from the perspective of not just tools, but specific skills that you can use at the right time, for the right job – even if you didn’t give them a second glance as you became a marketing professional.

    Last night on the Small Business Buzz Twitter chat, Question 8 was “Twitter vs. LinkedIn vs. Facebook?”. The answer is the right tool for the right job. Just as a frost mage needs to know when to pop Ice Block, Ice Barrier, and Cold Snap in Heroic Halls of Lightning to survive Loken’s Lightning Nova, so must a marketer know when Facebook is the right tool for a campaign, when Twitter makes the most sense, and when LinkedIn is exactly what’s called for. There are times when social media is exactly the wrong answer, and direct mail is the right one. As a marketing professional and as a Warcraft player, knowing which tool fits each situation best is the definition of mastery.

    Many of us rushed past experimenting with a lot of our secondary skills on the way to level 80 in both Warcraft and marketing. Now that we’ve got the job, now that we’re practicing professionals, we need to see what else we’re capable of that’s sitting in our inventory, perfect solutions for the problems we have at hand.

    This is what’s next for a lot of people – not another new, shiny object to play with, but mastering the tools you already have so that you can achieve exactly the results you want. One of the biggest ways you can set your own career back is to constantly chase after new tools and shiny objects rather than master the ones you’ve already got. Yes, absolutely, try new things, but devote more of your time towards perfecting the skills and tools you currently have, and you’ll find life after 80 – in Warcraft and in your career – to be incredibly rewarding.

    May your marketing quests be as fruitful as your Warcraft ones.

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