Surprise! Conversations with the customer pay off!

Posted on May 30, 2008 by marc meyer

What has been the most effective thing you’ve done to grow your business?

What tools, software or otherwise, have been invaluable to you? Have you used any social media tools?

I asked this in LinkedIn this past week, and I got news for you, Just when my faith is beginning to waver in how business is conducted these days, I got alot of great answers. Here are some snippets of those responses. see if you can come up with what the end all be all answer is yo the question.

Tim Brown of In The News “Number one with me sounds SO much like “consultant-speak”, but I stop myself and think about how the customer experience is working. I’m constantly trying to make that emotional connection and deliver an enjoyable buying experience. Our product is a non-critical item, easily deleted from the budget. If we build the relationship and make it easy, customers will still buy.”

Brian McCarthy of Tipping Point Media “Build a solid engagement strategy for business development that can be repeated within the sales organization. Once everyone is speaking the same language, it’s easier to push new customer development.”

Jolie O’dell “IRL conferences, LinkedIn, Twitter, and (surprisingly) Chatterous. Through these tools, I was able to start my own business and network with people who could tell me how to do that in all the right ways. The three social nets I named are repositories for best practices in new media, marketing, and technology, the latter two because they’re teeming with brilliant early adopters.

And immersion in the right kinds of social media can make things happen very quickly, as well. It’s often like being at an IRL conference 24/7… As long as you learn how to use it properly!”

Kent Lewis of Anvil Media puts it this way: This may not be the answer you’re looking for, but I would advise you not to be distracted by tools, software and social media. They are enablers, but not solutions. Start with a unique vision and world class product, then market your story. Oh, and read Good to Great and First Break All The Rules.

Second, we spend a great deal of time evolving and perfecting our product offering and ensure we provide world class service. The end result is that we’ve averaged 75% annual growth over the past 3 years, without having a sales staff or a marketing budget. Our team and our clients are our sales force and with high retention in both areas, it makes the work easier and much more enjoyable.

That said, the more pat answers to grow a business have largely been answered, but I’d say:
-public relations (builds a brand)
-search engine and social media marketing (go hand-in-hand)
-online and offline advertising (protects the brand)

Just make sure all of your marketing efforts are fully integrated…your Twitter and LinkedIn profiles are embedded in your email signature file, etc. It’s a brave new world, and everyone knows your a dog these days, so be authentic and remarkable

Or maybe Lisa Van Allen nails it on the head with her short but succinct list?

Most effective (in order):
1. live (in person) networking
2. public speaking
3. publication of articles in local media and online (blogs, e-newsletters)
4. website
5. social media (LI, Facebook, Twitter)

I think we’re getting warmer, Look what Karen Schultz says: “Listen without selling. Learn what works toward the customer’s team’s success. Choose a customer who matches your definition of partnership. Have their healthy growth in mind. How can you help their success. Be prepared to embrace the customer needs while exceeding their expectations, not yours. It is all about the customer. You are the customer’s advocate. Without the customer, you are not in business. The business you are in should be your passion, not about the weekend, not about the money ( I believe it will come in a fair fashion and you will feel great for your accomplishments, people will like to do business with you, people will advertise for you, and your customers will grow your business for you).

Ultimtaley they were all great answers but I will leave you with Tina Indalecio’s response: To be honest – the most effective thing I’ve done to grow my business has been offline.

My firm consistently used social media, blogs, html newsletters, surveys to get feedback on customer experience, etc. But those have really just been ways to stay in contact with the customer so they don’t forget us.

The conversion to actual business has always been through face-to-face interactions. I always asked for referrals and repeat business (online and offline). I created incentive programs to increase repeat business and referrals – then used online tools as one way to deliver the messages – but always followed up with a call or face-to-face meeting.

We would also hold a client thank you mixer every year and invite our clients and encourage them to bring a friend that could use our services. It was a great way for them to get new business as well from our other clients and they all loved it.

Ultimately, personal interaction has grown my business and the “phone” has been invaluable. For online items, they have helped in the following ways:

– Survey’s have been good at getting feedback. (I’ve used survey monkey regularly during and after each project closed)

– Html newsletters have been good at staying in front of the customer – but be sure to ask them what they want in the newsletter and then deliver it. (I’ve used constant contact and cooleremail)

– online social networks have been valuable at bouncing ideas off other professionals, etc. (like linkedin)

– offline social networks have been valuable for keeping a presence in the business community (like membership to your local business association)

Good way to head off into the weekend I think!

Traditional Media is afraid of Web 2.0

Posted on May 29, 2008 by marc meyer

Jake McKee promised that this might be the most significant thing I see/read/watch this year. In a sense he’s right. I love when people make me think. Clay Shirky made me think. And what he says makes sense. You might have to watch it twice but what I take away from it and told Jake essentially the same thing, are three things. 1) traditional media is scared shitless about what is happening right now. Consumers with voices? And the ability to use them? 2) We all have a surplusof cognitive surplus and 3) The old, one voice marketing to many with traditional channels of one way communication are dying on the vine.

10 random social media facts, lists and questions I have for our web 2.0 world

Posted on May 28, 2008 by marc meyer

According to Aaron Barnes , In 2006 the total marketing spend on social media was $350 million, the forecast spend for 2011 is more than $2.5 billion. A couple of thoughts cross my mind. 1-who is spending the money now and is the spend worth it right now given the fact that a lot of marketers are still feeling their way around in the dark. 2– by 2011, How many social networks will there be? 3– How much of that projected budget will go towards social nets that exist today?

4-I had heard that there were currently 850 social networks and that within the next 2 years we might see upwards of 250,00! 5-Do you believe that?

With that being said check out some interesting stats from september according to emarketer

The most widely used social media strategy used by US businesses was Blogs for editorial staff at 78% of total respondents. Check out the following in order of use:

Discussion Boards 76%

RSS 57%

Ratings and Reviews of articles or site content 47%

Profiles of Social Networking 45%

Photo Albums 39%

Chat 35%

Personal blogs 33%

Video-user submitted 35%

Podcasts 33%

Social Bookmarking 29%

Video Blogs 29%

Widgets(deployed on FB, Myspace and Google) 22%

Mobile Video/image text submission 16%

Wikis 16%

Citizen Journalism 12%

Micro-blogging (twitter, Jaiku) 6%

Virtual Worlds 4%

Other 8%

Couple of questions: 6-What constitutes other at 8%? and since this was done in September, 7-How much and in what directions do you think those numbers have moved for each that is mentioned? I have some thoughts but am always curious as to what other think. BTW, 8-How many of you do use what is mentioned? 9-How many of the list do you still use daily?, and 10-How much is for business use as they, say and how much is for personal use?

What will be social media’s tipping point?

Posted on May 27, 2008 by marc meyer

Malcom Gladwell defines a tipping point as a sociological term, “the moment of critical mass, the threshold, the boiling point. Tipping points are “the levels at which the momentum for change becomes unstoppable.” Joe Marchese said back in October that:

As advertisers and agencies rely ever increasingly on individuals to pass along their marketing message, the advertising and marketing messages themselves must now achieve their own tipping points within the social media communities in order for marketing and advertising to continue to be an effective tool for brand advertisers.

Ok I get that. Perhaps advertisers and marketers have reached the tipping point in regards to how they are reaching the users of social networks, but ultimately I think they haven’t reached that point. I think the conversations that abound right now are of a substance that says, this is the conversation, do you know how to join it? Do you know how to leverage it? Are you aware of how it works? Do you get that the conversation does not start with your brand, it starts with the people that dig your brand?

As a marketer, you need to listen before you speak.

The answer for me is that no, marketers, and branders do not completely “Get it”. Thus the need for the social media evangelists, the brand evangelists, and the Seth Godins of the world to dumb it down for us and for them. Why do they have to dumb it down? Because we, they, us, just cannot completely wrap our hands, our arms, our minds, arounud the monolithic beast that is the social networking phenomenon. There are a lot of moving parts. And I find myself daily explaining “it” to n00bs and people who actually know more than they let on.

For a marketer using social newtorks, a tipping point could be construed as a viral effect or a WOMM effect in which they can virtually sit back and watch the machine roll. To them, it means they have done their job, or so they think. To truly engage the user and the customer to use them as their champions is to create a conversation that breeds success beyond their wildest dreams. Because they have created buy-in on an exponential level.

Problem is, it has not happened often enough. And though it can be duplicated, and replicated, the moving parts, the variables, and the uncertainty of a social networks eco-system dictate that it will change and evolve and be ruled by the members and factors that you can never account for and not the marketers. But what happens AFTER a tipping point for a marketer in a social network setting? What is the life expectancy of the product, the user, the marketer, and the network? Can anyone provide me a case study for the “aftermath” of a tipping point for the aformentioned in a social network setting?

Has it happened yet? I doubt it. What’s intriguing is that in Geoff Livingston’s blog in which he has a weekly round up called Blogs of fire, author Marinel Mones linked to Nick O’Neill of Social Times in which he states that social networking sites will die in two years. Does that mean SN’s will have flamed out, reached their tipping points and then crash and burned? Do we just move on? I dare to say we don’t and that saying something as ambitious as SN’s will die in 2 years is more of an attempt to grab some eyeballs than anything else. What do you think? I believe I asked a number of people in the 20 million strong soon to be dead in 2 years Linkedin network where they thought social media and networks would be in 5 years and the answers were varied and deep and thoughtfull and none approached the answer of Nick O’Neill.

Do I think Social Networks will approach some type of tipping point? Yes, we will reach some type of saturation point, but I don’t think we have yet, much to the consternation of Daniel Riveong, but much has changed in the 2 years since he wrote that it had already started to happen.

The saturation point might just be a case or situation where out personal saturation point will be determined by what we can manage and not neccessarily a case of too many choices. But…invariably our choices are determined by our friends, our niches, our desires, and huh? Marketers? and so it has now come full circle…

In conclusion I pull an excerpt from the NY Times in which Duncan Watts writes about culture, Hollywood and Justin Timberlake. Check out the sublte social networking undertone to this statement.

The common-sense view, however, makes a big assumption: that when people make decisions about what they like, they do so independently of one another. But people almost never make decisions independently — in part because the world abounds with so many choices that we have little hope of ever finding what we want on our own; in part because we are never really sure what we want anyway; and in part because what we often want is not so much to experience the “best” of everything as it is to experience the same things as other people and thereby also experience the benefits of sharing.

So 2 questions that I will continue to explore:

What is social medias tipping point?

and..

What is our own personal saturation level for social media?

4 More Social Media Luminaries

Posted on May 23, 2008 by marc meyer

First I wanted to thank some of the gracious people who got back to me in regards to my post about 30 social media experts, evangelists and pundits. It was a fun list to compile and did not really expect to hear from some, and am surprised I did not hear from others. So much for the conversation? too busy? traveling? 3 day weekend? Nevertheless I want to thank Chris Brogan, B.L Ochman, Valeria Maltoni, Phil Gomes and Toby Bloomberg, Their responses to this post were more than gracious and reinforces why I read their blogs on a regular basis.

Sure, I know I should be bashing twitter right now, but Chris is all over it like a cheap suit, and there’s nothing I can think of thats going to change it except to say that Twitter is effin up in a big way. Maybe IT IS time to go over to Friend Feed? Actually I have, I just don’t use it as much…yet.

Meanwhile back at the ranch, One of our Top 30, who rocks the effin house, has graciously provided me with 4 more peeps/peers that we can add to the list. Here they are, and I must admit, they were great additions to this list.

Geoff Livingston
Rajesh Lalwani
Jeneane Sessum
Paul Chaney

I’m still open to add to this list as it might be a pretty cool list to maybe work up to 50. or maybe this is it? Maybe the conversation only consists of 34? You tell me.

Peace

-MM

Monetizing Social Networks. The simplest analogy possible!

Posted on May 22, 2008 by marc meyer

Aside from the big players in social media making money via advertisers and cutting deals with some of technologies biggest hitters, there are more social sites that do not make money then there are those that do. What do they do? How are they going to make money?

Obviously one of the ways to create a social networking site that actually makes money is to niche-ify it to the extent that is speaks to a specific type of brand user and all the products or services that can be wrapped around the user. Picture the hot dog . Thats right, you are the hot dog. Your social network, the hot dog. You are going to be interested in all things related to you.

Now the hot dog has the bun, the ketchup, the mustard, the relish,and the onions. All viable participants in the network. Including our friends chil and cheese. Couple with that will be napkins, something cold to drink and perhaps to go with the hot dog, a side of chips.

All of these mentioned make perfect sense. They are viable, channel driven, niche driven, complimentary, cross promotional products that speak to the center of the social network universe known as is…the hot dog,

The problems arise when something that is totally irrelevant tries to crash the party. And interestingly enough, you would be surprised how often the following happens:

The best example of a lot of people trying to crash the party is perhaps the frenzy that is Myspace and Facebook. The frenzy of advertisers wanting to take advantage of million and millions of customers waiting(or are they?) to be pitched. Problems can arise from people who try and crash a party that they’re not invited to. Some great examples can be found in Jeremiah Owyangs post on brands that got punked by social media

As an advertiser, one just needs to know and it’s not like it’s that difficult. Are you the windshield, are you the bug? Are you the louisville slugger, are you the ball? Are you the hot dog? are you the bun? Or are you window cleaner that is the upsell to a box of triscuits?

30 Top Social Media Experts, Pundits, Evangelists and Marketers

Posted on May 21, 2008 by marc meyer

If I spent all my time reading their blogs, there would not be enough time to do anything else. So I want to ask everyone out there, Who else should be on the list?. By compiling the list, maybe it will help others narrow down the search, increase the conversation, hone in on what they are interested in and reduce the amount of time it takes to read their prose.

This is by no means an exact list but it’s certainly a WIP. I need everyone’s help in compiling this though!

There is no order. <—–truer words have never been spoken?

WOMM If it sucks, it sucks.

Posted on May 19, 2008 by marc meyer

I read this statement this morning and I’m still trying to wrap my arms around it: “Power is shifting rapidly to consumers”. The reason I’m having a hard time with it is, since when did or do consumers not have the power. The person who wrote that also said that that statement is the “new reality”. Oh really? So prior to the new reality, marketers and companies and products called the shots?

Isn’t the customer always right? If a product sucks, it sucks. The customer and the consumer will tell you so. They’ll do it 3 ways. 1 they won’t buy it. 2 they’ll tell their friends about the sucky-ness of it and 3. even though they don’t knoe you, they’ll tell you the product sucks.

I chuckle when I read that companies and organizations are building social communities and word of mouth campaigns wrapped around their products and top influencers and then complain because of what they hear. What did they expect to hear?

If it sucks, it sucks.

The top 20 streaming(free) music sites

Posted on May 15, 2008 by marc meyer

According to compete, here is the latest list of the top 20 streaming music sites. Some interesting things to note about the list and what you should know: All of these sites now have some sort of social aspect to them in order to grow and kepp its user base. With that being said this list also shows that users like to listen to their music, they just do not like to pay for it very often as this graph will attest to.

So what’s new there? I had previously posted about the top 44 social music sites awhile back, but that list has expanded and changed since that posting.

Here is the latest list:

Imeem Imeem’s expensive label deals, which allow it to offer on-demand music from all four majors, plus indies — combined with emphases on social networking and reaching out to blogs — have paid off handsomely. The site’s unique U.S. visitor count rose 58 percent over the previous March to 10.3 million.
Yahoo Music Yahoo, which had acquired large music sites like Broadcast, Launch Media and Musicmatch in order to become the top-ranked music-streaming site in the country, has slipped into second place.
AOL They’re still around? Actually I’m kidding, based on their #3 standing in the top 20!
Myspace Music
Project Playlist One of my favorites
MSN Music
Hypem A site that everyone should bookmark
Pandora– Used to loop alot but getting better
ILike Integrates lots of nice social network features
Last.Fm Updates a lot and sometimes has an odd mix but maybe thats not so bad?
Jango Has a very simple interface
Live365 A pioneer, been around a long time, always good to have in the rotation
Qloud very strong social media integration
Mog Great tag line, but is it any good?
ReverbNation Little bizy
HypemThe Hypem1500 presents aggregate traffic to the more than 1500 music blogs tracked by the Hype Machine, a popular blog aggregator. The Hype Machine itself is ranked separately from its network at #16
Deezer In 2007 launched a free on-demand music playback service
Songza– Great clean and simple and easy to use interface
Seeqpod The oddest name of the bunch but still pretty cool
Muxtape

In conclusion, let me paraphrase Alex Patriquin : “As the music industry seeks to reassemble in the wake of digital distribution, it should recognize social streaming communities as the fastest growing opportunity in its evolution”