*Branded* Content is King

According to a recent study by the Custom Content Council and ContentWise, 78% of U.S. marketers plan to shift investments from traditional marketing to branded content marketing. More specifically, 62% are “moderately” making the shift, while 16% are pursuing it “aggressively.”

The study found that branded content marketing spending reached its highest level ever in 2011, just shy of $2 million per company. This accounted for 26% of overall marketing, advertising, and communications budgets for the year, and 30% of marketers expect their content budgets to increase in 2012.

Why content?

The top-ranked reasons are:

1. To educate customers (49%)
2. To retain customers (26%)
3. To increase brand loyalty (14%)

Similarly, marketers believe content marketing is more effective than:

1. Magazine ads (72%)
2. Public relations (69%)
3. Direct mail (69%)
4. Television ads (62%)

Is your brand pursuing a branded content marketing strategy?


By Jennifer Pricci

How to Monetize Social Media

As someone who provides Social Media Marketing solutions, both on behalf of employing organizations and clients, I am often asked... "OK, I am onboard, but how do you make money from all of this?"

I am a disciple of Inbound Marketing. I believe in this day and age this is a philosophy that works. It's simple in theory; create great content, promote that content via social media, attract qualified leads and convert those leads into customers. Many Marketers out there work in conjunction with sales. I personally have been in positions where the Marketers job ends at garnering qualified leads and passing those leads off to sales to close. But Marketers are often tested by sales... what am I supposed to do with this information. Marketers are often frustrated by sales when they don't jump on such qualified lead data... this is an age old quandry between the two departments and why I contend there must be a happy marriage between the two departments... but that is a story for another day.

Today's story?...
How Marketers can help themselves by helping sales monetize their social media efforts.

Companies are not only getting the word out about their brands using social media such as Facebook and Twitter but are also making money.

Many businesses have not found sites such as Facebook, Twitter and YouTube useful in making money. Building genuine online relationships that are also good for the bottom line is not so easy. There is a lot of trial and error. But while monetizing social media is difficult it is not impossible. There are companies that are getting the word out about their brands using social media and are turning a profit.

Take The New York Jets. The NFL team launched their Ultimate Fan social game in September 2010, which was the first revenue generating Facebook app to be backed by a pro sports team. The application lets football fans do online what they would normally do at home and in stadiums—root for their favorite teams and players, predict game scores, and hold a virtual tailgate party with other fans from across the globe. Ultimate Fan has since lured four major sponsors integrating their brands: MetLife, Motorola, SNY and HotelPlanner.com.

The Jets also communicate regularly on Twitter. They even advertised a Twitter-based contest to win tickets to their 2011 AFC playoff championship game against the Pittsburgh Steelers. The Jets are able to engage with their fans and make them feel like they are part of the team. They are leveraging social medial to capitalize on their fans' passion for the team and their willingness to share that fervor.

Like many companies, your social media efforts have started small and grew organically. To capitalize on those efforts to generate sales and revenues you need to have a team of people dedicated to your social media presence. You also will need a deep understanding of your audience, a creative vision, and a way to measure results in order to execute a successful strategy.

Here are some ways your social media can be monetized…

How to Monetize Social Media: Build Brand Awareness
The first step is to use traditional media or word-of-mouth advertising to drive awareness and traffic to your Twitter, Facebook, and YouTube pages. Unless you already have a recognizable brand like Nike or Apple, your brand needs to develop social media magnetism before you can look to make any money. You also need to create circular momentum across many platforms when designing your social media campaign. By providing multiple channels for users to talk with you, you let customers choose the channel that they are most comfortable with, by doing this you increase the likelihood that they'll connect with your brand in any number of ways.

How to Monetize Social Media: Engage Your Audience
Social media is about having a dialogue. When you have a dialogue with a customer or prospect, the communication is much more fulfilling and much more profitable. The PETCO brand has developed a strong presence in social media. The pet store chain has a YouTube channel, its Facebook page generates a lot of discussions among pet owners, and there's lots of activity on its PETCO Scoop Blog, which has received hundreds of “Likes” and Comments. PETCO's customers are true pet lovers and treat their pets as part of the family. The company tries to keep conversation going by aiming Facebook and Twitter posts so that there's an explicit question to answer, or at least a specific piece of information to which people can react. You have to know your community and know how to take part within that community and through that create great content or conversation that will raise awareness and increase sales.

How to Monetize Social Media: Offer Special Promotions
Dell Computers exemplifies a company that is selling products using social media. Its Twitter page, @DellOutlet, offers discounts exclusively to followers. Dell might tweet 15 percent off any Dell Outlet laptop or desktop with a special coupon code entered at checkout so they'll know which tweet you are seeing. @DellOutlet also points you to a specific web page. There is some interaction in terms of chats with tweeters. @DellOutlet has garnered more than 1.6 million followers and generated more than $2 million in incremental revenues for Dell. Traditionally, Dell would have spent a lot of money running print ads. Today, they can write a 140-character promotion to reach customers.

PETCO is yet another example. The company provided a promo code to their customers for $40 in free shipping. The person who shared their code with the most people won a $500 PETCO gift card. About 40% of the sales that resulted from this promotional push came from new consumers. The desire to save a few bucks drove loyal PETCO customers to connect with the larger pet owner community and spread the word about the store via social media.

How to Monetize Social Media: Use Media Advertising
Many companies have used display advertising (banners) and contextual advertising such as Google AdWords. Many bloggers use Google Adsense to make money. There are plugins to help; you make money from clicks. There are also ad networks that you can join that pool several advertisers. You get a code and banner ads rotate from their network. This is an item that you will want to include in your advertising rate sheet. Major advertisers who buy display ads are finally beginning to figure out how to reach audiences through social networks, and have begun to shift significant dollars into Facebook.

Instead of a typical banner ad, consider offering a microsite, which would be equivalent to a paid supplement. For example, you could devote one page (a link on your website) specifically to an advertiser's products and services. Or you can become an affiliate. With affiliate marketing you get paid to refer people to another business.

Consider combining rich media advertising with display advertising. Video advertising and promotional material can be quickly and easily streamed to your social community. Another consideration is charging for sponsorship on a monthly, quarterly, or annual basis. Of course, attention needs to be paid between balancing the delivery of the rich media advertising against the comfort level of your customer base.

How to Monetize Social Media: Brand Within Applications
The best way to use apps is to create something that is functional such as a calculator, entertaining such as a game, or provides some sort of social connection such as an app just for your community. Your app can be fee based or you can give it away to build a relationship with customers. A number of well-known company brands use mobile apps to interact with their loyal customers, including Target, Coca-Cola, Nike and Gucci.

The fashion designer touts a luxury lifestyle application that is a quintessential example of branded mobile marketing. Through "Gucci Connect" users were able use their mobile devices, such as iPhone or iPad, for virtual access of a Milan fashion show, watch live runway and behind the scenes video coupled with live chat between virtual guests through Facebook and Twitter. Exclusive also to iPhone app subscribers are interactive games. The "Gucci Live" section features a music channel. Subscribers stay "in the know" with a calendar of upcoming brand events and feature articles. The Gucci "Little Black Book" provides recommendations to the hottest restaurants, nightclubs, and hotels in various cities throughout the world.

How to Monetize Social Media: Set Up Shop on Facebook
Facebook fan pages are another way to generate sales and enthusiasm especially if you have loyal fans that follow your updates. You can list your products on your Facebook page for fans to easily share with their own friends and essentially allow your product offerings to go viral.

Businesses are increasingly selling their goods on Facebook. There are various e-commerce solutions available. One is 8thBridge which is helping companies like 1-800-Flowers and HuateLook sell from Facebook. A special deal 8thBridge ran for the designer brands retailer HauteLook along with fashion designer Diane von Furstenberg generated more than $100,000 in sales in one day, 40 percent of which came from new customers. Users were given a $10 coupon for every new member that they brought in. Using 8thBridge, 1-800-Flowers is drawing people into buying flowers and other gifts for friends and family while they are already thinking about them on Facebook.

Payvment is another storefront option that provides online stores for companies to sell on Facebook. It has a network of more than 60,000 merchants using its self-serve technology. Payvment generally serves smaller clients while 8thBridge caters to small- and medium-sized businesses. According to a study released by Forrester Research, Facebook is more suitable for small retailers, niche products, or steeply discounted items. Most of the benefit that big retailers get from Facebook is branding their company but not actual purchases, Forrester further reports. Moreover, some products are inherently social such as books, DVDs, and event tickets, which have been successful because they are easy to buy and sell online.

How to Monetize Social Media: Use as a Retention Tool
Companies don't always need to use social media as a sales tool or to acquire news customers, they can use it as a customer retention tool. If someone likes or follows your business, it's because they're interested in hearing from you on some regular basis. It's important that you have a routine schedule for your blogs, tweets, and postings. Keeping your fans and followers up to date on what's new and happening with your business or industry will keep them engaged with you and keep your brand top-of-mind.

What have you done to monetize your social media marketing efforts?


By Jennifer Pricci
www.jenniferpricci.com
jennifer@jenniferpricci.com

Why Is It Important to Evaluate Your Competition?

As simple as it sounds, competition is the key to short-term success, while innovation is the key to long-term success.

To succeed in today's marketplace, you must differentiate from the status quo by offering products or services that are more innovative or competitive in terms of quality, image or price.

It is important to seek information about your competitors and use to innovate. By doing so you will be able to:

• Evaluate your own performance against others
• Identify and exploit competitors weaknesses
• Address competitor strengths
• Get new ideas
• Identify new prospects
• Improve sales forecasting

• Stay strategic

There are also other benefits, which are arguably more important, but difficult to measure. Competitor intelligence helps you to:

• Reduce complacency and improve discipline within your own business
• Foster an acceptance of continuous change
• Respect that other suppliers have satisfied customers and reasons for it
• Create a recognition that the business must continually seek to improve

Here are some key questions you may want to begin with when analyzing your competition:

Who are your competitors?  There’s a little more to this question than meets the eye. You may find that you compete with different suppliers in the different product/service areas or markets in which you operate.

What do they offer?  Find out what makes up their entire product range or service portfolio. Of course you are more interested in the products and services that you compete with, but remember that they are making decisions about resource allocations to their entire portfolio.

What is their pricing policy?  Customers will usually consider carefully the price of your products or services in relation to your competitors. It isn’t always good to have a lower price. For example, if your price is lower, is your quality or are your costs also lower? If the price of your products and services is higher than other suppliers, are you providing additional customer benefits? Do customers recognize and value these benefits?

Who are their customers?  Consider the different types of customer groups that your competitors are supplying.

How do they promote themselves?  How are they attracting new customers? How active is their marketing activity? What does their marketing mix consist of?

How financially secure are they?   Company accounts can provide much useful information, and enable you to make direct comparisons.

What are their strengths and weaknesses?  You have potentially collected a lot of information about your competitors. Listing their strengths and weaknesses is a good way to summarize this information in a meaningful and usable form. Perform a SWOT analysis on yourself and your competitors. See: How to Conduct a SWOT Analysis

What is their business strategy?   If you understand your competitors, you will be able to predict what decision they are likely to make in a given set of circumstances. This insight is extremely valuable to you.

From all the information you have obtained, you can build a picture of the key characteristics of your main competitors that will enable you to make intelligent deductions about their overall business strategy. From their you can enhance your own offerings that are more innovative or competitive in terms of quality, image or price ultimately gaining marketshare.

Online Audience Development for Content Owners

It is true when they say content is king. But "relevant" content is key to success. All publishers need to make sure they have the right content for the right people in their audience.

How is the online content consumed?

A pull strategy (bringing people to your online content) requires SEO / SEM or display advertising to acquire the audience. This can be expensive.

A push strategy (delivering content to the people) is likely going to be key in getting cost-effective results and ROI. The best way to do this is delivering relevant content in a timely manner via email. In this case content is targeted to individuals based on their preferences and behavior.

Here are some more on some /pull techniques:

• Search engine optimization and search engine marketing
  Seems obvious, but how many publishers do this? If you publish media in a given space, the huge number of topics that your publication or Web site covers makes SEO/SEM a totally different challenge.
• Co-registration
  This is easier said than done for publishers that sell advertising, but basically the idea is that anytime someone signs up for an e-newsletter subscription on another Web site that's topically related to your Web site, you negotiate a relationship whereby your newsletter subscription is offered as another checkbox on that other Web site's e-newsletter sign-up form. Not surprisingly, Marketing Sherpa uses this tactic on a lot of marketing vendor sites. One advantage: They have a paid content model, so there's no conflict of interest. I'd like to see an example of an ad-supported publisher doing this with suppliers in their space.
• Landing page optimization
  I know most publishers aren't using this technique. The idea is that the very design and layout of the sign-up page (for our purposes, called the landing page, the place where the moment of truth occurs, when readers decide whether or not to opt in to your site, newsletter, magazine, advertiser white paper, etc.) greatly influences the number of readers who "convert" or complete the form. By testing different versions of the page, you can increase conversion by up to several hundred percent.
• Tracking/Analytics
  This is the adroit use of Web analytics programs to give you feedback on metrics that are meaningful to publishers. How many people subscribed to which e-newsletter products, and which were the most effective sources of traffic, both internally and externally? If you're doing paid search, which keyword groups yielded the best ROI? Which should be scrapped? Anyone doing paid search without tying it to some ROI metric is throwing their money down the drain.

Do you have a system for determining the relevancy of your content?




By Jennifer Pricci

101 Small Business Marketing Activities

One universal small business goal is to sell the business's products and services. This is usually best accomplished by positioning the business in front of the target audience, and offering something they can't refuse or find elsewhere.

To this end, one of the smartest things a small business owner can do for their business is take the time to develop a small business marketing plan that will set them apart from the competition. A marketing plan clearly outlines how you will reach your ideal customers by effectively implementing your marketing strategy.

There are thousands of ways you can promote your small business. With the right mix of activities, you can identify and focus on the most effective marketing tactics for your small business. Here is a list of 101 small business marketing ideas to get you thinking about all of the different ways you can promote your business.

Marketing Planning

1. Update or create a marketing plan for your business.
2. Revisit or start your marketing research.
3. Conduct a focus group.
4. Write a unique selling proposition (USP).
5. Refine your target audience and niche.
6. Expand your product and service offerings.

Marketing Materials

7. Update your business cards.
8. Make your business card stand out from the rest.
9. Create or update your brochure.
10. Create a digital version of your brochure for your website.
11. Explore a website redesign.
12. Get creative with promotional products and give them away at the next networking event you attend.

In-Person Networking

13. Write an elevator pitch.
14. Register for a conference.
15. Introduce yourself to other local business owners.
16. Plan a local business workshop.
17. Join your local chamber of commerce.
18. Rent a booth at a trade show.

Direct Mail

19. Launch a multi-piece direct mail campaign.
20. Create multiple approaches, and split test your mailings to measure impact.
21. Include a clear and enticing call to action on every direct mail piece.
22. Use tear cards, inserts, props and attention-getting envelopes to make an impact with your mailings.
23. Send past customers free samples and other incentives to regain their business.

Advertising

24. Advertise on the radio.
25. Advertise in the Yellow Pages.
26. Advertise on a billboard.
27. Use stickers or magnets to advertise on your car.
28. Take out an ad in your local newspaper.
29. Advertise on a local cable TV station.
30. Advertise on Facebook.
31. Advertise on LinkedIn.
32. Buy ad space on a relevant website.
33. Use a sidewalk sign to promote your specials.

Social Media Marketing

34. Get started with social media for business.
35. Create a Facebook page.
36. Get a vanity URL or username for your Facebook page.
37. Create a Twitter account.
38. Reply or retweet someone else on Twitter.
39. Setup a Foursquare account for your business.
40. List your business on Google Places.
41. Start a business blog.
42. Write blog posts on a regular basis.
43. Start social bookmarking your online content.
44. Create a Groupon.

Internet Marketing

45. Start a Google Adwords pay-per-click campaign.
46. Start a Microsoft adCenter pay-per-click campaign.
47. Comment on a blog post.
48. Record a video blog post.
49. Upload a video to YouTube.
50. Check your online directory listings and get listed in desirable directories.
51. Set up Google Analytics on your website and blog.
52. Review and measure your Google Analytics statistics.
53. Register a new domain name for a marketing campaign or a new product or service.
54. Learn more about local search marketing.
55. Track your online reputation.
56. Sign up for the Help a Reporter Out (HARO) email list.

Email Marketing

57. Create an email opt-in on your website or blog.
58. Offer a free download or free gift to make people willing to add their email address to your list.
59. Send regular emails to your list.
60. Start a free monthly email newsletter.
61. Use A/B testing to measure the effectiveness of your email campaigns.
62. Perfect your email signature.
63. Add audio, video and social sharing functionality to your emails.

Contests, Coupons and Incentives

64. Start a contest.
65. Create a coupon.
66. Create a "frequent buyer" rewards program.
67. Start a client appreciation program.
68. Create a customer of the month program.
69. Give away a free sample.
70. Start an affiliate program.

Relationship Building

71. Send out a customer satisfaction survey.
72. Ask for referrals.
73. Make a referral.
74. Help promote or volunteer your time for a charity event.
75. Sponsor a local sports team.
76. Cross-promote your products and services with other local businesses.
77. Join a professional organization.
78. Plan your next holiday promotion.
79. Plan holiday gifts for your best customers.
80. Send birthday cards to your clients.
81. Approach a colleague about a collaboration.
82. Donate branded prizes for local fundraisers.
83. Become a mentor.

Marketing with Content

84. Plan a free teleconference or webinar.
85. Record a podcast.
86. Write a press release.
87. Submit your press release to various distribution channels.
88. Rewrite your sales copy with a storytelling spin.
89. Start writing a book.

Marketing Help

90. Hire a marketing consultant.
91. Hire a public relations professional.
92. Hire a professional copywriter.
93. Hire a search engine marketing firm.
94. Hire an intern to help with daily marketing tasks.
95. Hire a sales coach or salesperson.

Unique Marketing Ideas

96. Get a branded tattoo.
97. Create a business mascot to help promote your brand.
98. Take a controversial stance on a hot industry topic.
99. Pay for wearable advertising.
100. Get a full-body branded paint job done on your company vehicle.
101. Sign up for online business training to revamp, expand and fine tune all of your marketable skills.

There are many more than 101 small business marketing ideas.

Do you have an idea not listed here? Add your small business marketing idea to the list.



By Jennifer Pricci

4 Ways to Overcome Marketing Challenges Forever

For most small business owners, marketing is an overwhelming concept. They need marketing solutions that ensure a smooth-running, profitable business yet most don't know where to begin or how to focus their efforts.

90% of small businesses don't even have a marketing plan.

It's difficult to reach your destination if you don't know where you're going!

If you're a small business owner looking for ease, focus and marketing success, we recommend that you focus on just 4 tactics:

1. Establish a memorable and unmistakeable brand identity.
The secret to business success is determined by your ability to powerfully communicate your business with laser precision and your ability to deliver a clearly-defined and consistent experience.

In a nutshell... it's called branding, and, when done right, it ensures a thriving business with all the customers and profits you need. The secret is to establish a powerful brand identity that sings distinction. And establish that identity before you launch any marketing activities.

2. Create a deep connection with your core target audience - your potential raving fans!
Who wants and needs what you have to offer? The only wrong answer is "everyone." If you're a pediatrician, you may see infants and children. Are they your target audience? No! They are your patients, but it's the parents you need to connect with to get the kids in your door. And it's not just any parents - it's a definite group of parents.

In marketing, you get a lot more "bang for your buck" if you focus your spending on a well-defined target market. The better you define this group, the more effective your marketing can be.

3. Design compelling offerings that pull customers in like a magnet.

80% of all purchase decisions are based on emotion. It's your job as a marketer to know how your customers want to feel and to get them to visualize how your services can meet their needs. People want to know, "What's in it for me?" Tap into the emotion and create offerings that touch your customers.

4. Craft A Personal, Workable Marketing Plan
Marketing is everything you do to make your product or service more visible, more desirable and more profitable. Your marketing plan will clearly define the big picture and provide focus and direction based on the 4 P's of Marketing - product, price, place/distribution and promotion.

Since 90% of small business owners do not have a plan, you'll have a leg up on your competition by crafting your personal, workable marketing plan to ensure that you reach your business goals.

Following these 4 criteria will transform any small business into a money-making machine guaranteed to grow your client list, sales and profits. The upfront work is the secret to a million-dollar business, literally and figuratively.
 
Are you currently challenged by any of the above tips?  Tell us about it.
 

By Jennifer Pricci

Is Outsourced Marketing Right for You?

Outsourced Marketing is a “best value” solution through which growing businesses are able to access a range of state-of-the-art services and resources. Results are shifted from an internal to an external marketing department. The benefits are numerous: in addition to a sizable cost savings, outsourced marketing allows you to better focus your resources, free up time of valuable personnel, project a more professional appearance, access better technology and capabilities, leverage increased flexibility, and more.

In today’s economic climate, outsourcing with the intention of decreasing costs has become increasingly important in order to attain or maintain a competitive advantage. According to a recent Harvard Business Review article, over 53% of marketing executives reported that they plan to outsource their marketing.

How Does It Work?
Outsourcing a company’s marketing is a strategic decision where the entire marketing function is no longer performed in-house with the purpose of re-focusing a company’s activities on its core competencies. For years companies have been outsourcing some of their marketing activities such as advertising, graphic design, website design and research. Outsourced marketing results in a shift from an internal to an external marketing department. The marketing firm handles everything from research, analysis, strategy, planning and management to advertising, public relations, direct marketing, internal communications, and web marketing
 
What are the benefits?
Cutting costs is just the beginning. The additional benefits of outsourcing lie in the value it creates.

• Aligned Objectives When using an advertising agency or a design firm, the focus is on creativity. As a result, efforts may be geared more toward winning awards than on maximizing your company’s ROI. It has long been established that an award-winning campaign does not necessarily equate to award-winning sales. An outsourced marketing firm creates the strategy, objectives and creative of each campaign and it is then responsible for measuring the success of the activity. Everything is centered on ROI, thereby closely aligning its objectives with yours.
• Increased Flexibility Outsourcing your marketing gives you additional flexibility in your activities. You can pursue numerous activities simultaneously without overtaxing your internal staff. An outsourced marketing firm has additional, trained and experienced staff on hand that is able to handle emergency, short-term or periodic projects. There is less gear up time, resulting in quicker response times and more efficient activities. Focus Scare Resources On You Core Business You are in business to do what you do best. Nothing else should detract from your core competencies. Outsourcing your marketing shifts the focus from marketing activities to those that are at the core of your value proposition; those that benefit your customers directly. Every business management expert will tell you to focus on what you do best and unload the rest because both money and time are extremely scarce and must be directed where they can result in the largest gains. One of the most difficult thing for a business owner to do is to admit that another person or company is company is better qualified to do something and to let go and allow them to do it. In this case, a business owner’s largest obstacle can be him or herself.
• Free Up Time of Valuable Personnel Each person has a finite amount of time and energy and it is essential to keep their time and energy focused in the most crucial areas of the business. It is a very common mistake for key personnel to be distracted from their core competencies in order to have a hand in a company’s marketing. When the marketing is outsourced, this is much less likely, particularly when concerns are minute, day-to-day details of little consequence to the bottom line. A company's highly paid staff, including owners and upper management can focus on doing what they are educated, trained and experienced to do, like running the company, developing sales, etc. More importantly, an outsourced marketing firm is educated, trained and experienced in marketing and is therefore better equipped to more efficiently and effectively handle the marketing.
• Play With The Big Boys Outsourcing can help small businesses afford the talent and activities that are out of their reach. Outsourcing allows even small companies to access large economies of scale, efficiency, and expertise that are common to large companies.
• Reduce Risk Every penny your business spends is a risk. Outsourcing allows you to share a portion of your risk with another company. You will be able to reduce your fixed assets, overhead, payroll, management fees and more. Additionally, because an outsourced marketing firm is an expert in the field of marketing, it is much better situated to minimize any risk relating to marketing than a firm with expertise in other areas.
• Get Access To Specialized Skills Every business needs consultants and experts in certain areas at certain times. Using an outsourced marketing firm provides you with immediate, affordable access to top-level professionals that are highly skilled in specialized areas, from consumer behavior to package designers. Additionally, these experts are better able to serve your company more loyally than are consultants who specialize in a given industry and may be working with some of your competitors.
• Proactive vs. Reactive Marketing An outsourced marketing firm is often in a better position to provide a proactive marketing strategy. An internal marketing department is more apt to be sidetracked by internal activities, changes, and fires that need to be put out.

Who Should Outsource?
The specific reasons to outsource are as varied as the companies themselves. But the basic incentive for outsourcing remains the same: since the life-blood of the company lies in doing what it does best, it is only reasonable to acknowledge and accept that it cannot and should not try to do everything. By focusing on its areas of expertise, the company can capitalize on its own talent pool. This, then, is the most important and most basic requirement.

The decision to outsource is often made in the interest of making better and more efficient use of time and resources, reducing costs, or redirecting /conserving energy to focus on core competencies. As to specific reasons to outsource, some companies are looking for a chance to turn things around while others are seeking to create business models that will give them an edge. Some see outsourcing as a viable alternative to overhauling outdated office operations, to provide lacking in-house resources, or to spend more time innovating and dealing with customers. Some are dealing with rapid expansion while others need to get a better handle on the budget through predictable costs.

So What’s The Bottom Line?
Outsourcing improves the bottom line! Overhead costs are reduced by eliminating wages for additional employees, benefits, extra office space, computers and software – all alternatively provided in-house.

Outsourcing will provide media and discipline neutrality to identify and find the resources needed. The marketing outsourcing partner can provide a fresh look and an objective viewpoint. There is an added benefit of increased flexibility, which results from eliminating fluctuating workloads and preventing wasted time training temporary employees.


Read the PHANTOM POWER Outsource Marketing White Paper



By Jennifer Pricci

What Time of Day Is Best for Thinking of Ideas?

One of the first lessons I learned in college was to learn what times of day you are personally most productive. It takes some time and discipline, to monitor one's own efficiency, but in the end, I do not believe there is ONE time of day that is best for everyone, I believe it is up to YOU to decide.

Unfortunately, professionally speaking, we often don't have the luxury to CHOOSE what time of day we want to brainstorm. As a marketer, I find "mind mapping" an extremely effective exercise to spark creativity.

Mind Mapping is a technique used to enhance thinking processes. Whether while taking notes during class, brainstorming a process or creatively collaborating on a project, it allows the user to record raw facts and pieces of information that fit together but that might not be noticed otherwise.

• Starting a Mind Map is easy. Simply write the name of the subject you are interested in the center of a blank piece of paper and draw a circle around it. All further levels will work from this starting point.
• Important facts or questions make up the second level. These are connected directly to the center point. For example, if using “Tell a Story” as the central idea, the second level could be the standard “Who, What , Where, When, How” questions.
• Delve deeper for more information. From this second level, all additional levels are connected. For example, under the “Who” heading, there could be sub-levels of “Who are the characters” and “Who is the audience.” Additional levels and ideas are placed on the Mind Map making sure they connect somewhere to the diagram. Using colors coded to the levels you are working on can also assist with the visual information. If one part of your map connects to another, link them.

To get more information on Mind Mapping, there is a video on YouTube of Tony Buzan explaining the concept.

RIP Cold Calling, Survived by Social Networking

Cold calling has been served notice, a new era beckons and with it an altogether different way of working. Social networking has arrived and will soon replace cold calling as the predominant method of prospecting in business.

I know many people will think that there is no replacement for activity, specifically picking up the phone. Yet, no matter how intelligent you are about cold calling, it is what it is – speculative, scatter gun selling, not to mention costly and increasingly ineffective.

Consider the following data I found online...

In a test which spent an equal amount of time cold calling and using social media (9 AM - 5:30 PM; M - F).

Cold Calling Results

• Outbound calls made 325
• Meaningful conversations (pitches) and brand touches 80
• Meetings made 4
• Sales made (as a direct result of cold calling) 0

These are average conversion ratios for time spent but it comes with much overhead.

Social Media Results

• Inbound calls generated 8
• Meetings as result of inbound calls 3
• Sales as a result of inbound calls 2
• Brand touches (from site statistics unique views of content) 422
• Visitors to sales associate's blog Subscribers (RSS) to sales associate's content 27
• People following sales associate's Twitter 12
• New contacts 71 (on LinkedIn, Facebook, WeCanDo.BIZ, etc)
• Listeners to sales associate's Podcast 83
• Opportunities to sell found 21
• Online conversations had 39
• Warm call list (names generated expecting a call) 11

The cost of the social networking blitz to find new business opportunities, other than time and internet connection are small, if anything at all. Most importantly 2 sales were closed, covering any cost associated with the activity and generating a very healthy return.

The central question, however, is do modern-day sales people have the level of skill required to conduct a social media campaign individually? The simple answer is no. Not all salespeople will have the necessary skills, but having a skills gap is nothing new on the sales floor otherwise we wouldn’t have the multi-million pound training industry!

Can the skills be taught quickly and cost effectively? Yes. I have always taught people that sales is a process: follow steps one through five to achieve your aims. Social media networking can be processed as well, giving salespeople clear guidelines on the ‘how to’ and ‘how not to’. We spend millions every year teaching salespeople to cold call better, use the latest CRM (customer relationship management) system, be better team players and so on; and so it must come to pass that companies will need to train all staff to be ‘social media savvy’ as it extends far beyond just sales – marketing and service need to be in on the picture as well. 

Naysayers?... Agreed, updating your Facebook page with pictures of the weekend, playing silly games, nudging or poking other people is not the best use of your company’s time. But creating engaging, thought-provoking, discussion-opening content, centred around your products or services is. 

Social media networking will reduce dependence on cold calling. I am not saying it will eradicate the need for the telephone – that perhaps is to bold an idea. But I am certain it will become the first step in prospecting for new business.

What kind of results are you seeing when you pin Cold Calling vs. Social Networking?

And In This Corner...

What research is available to demonstrate the superiority of online market research versus traditional -- in terms of "soundness" and validity -- and and vice versa?

In my experience I do find that online marketing methods are more efficient than traditional marketing in terms of "soundness," "validity," and most importantly, measurability and ROI, however, I feel an integrated, 360-degree approach is really key to the marketing mix.

Here are some great statistics on the effectiveness of online marketing but it also speaks to integration as a winning approach:

http://www.clickz.com/3626795

I agree with (name ommitted) who asks whether online is really considered nontraditional at this point. However, given the current economic climate, I find online marketing the more efficient of the two.

Unfortunately, the traditional marketing and advertising sectors are bearing the brunt of the current economic conditions budget cuts. Emarketer reports that 59% of marketing executives initiated a decrease in spending on traditional marketing in 2008 and 65% decreased budgets for traditional advertising. Additionally, the Newspaper Advertising Association of America reports that total newspaper advertising revenues fell by $3-billion in the first six months of 2008, marking the lowest level in 12 years.

In stark comparison to the struggling traditional marketing sectors, online marketing firms have been steadily building market share for several years and are surprisingly unaffected by the current failing markets. Displaying a clear strength in a clearly chaotic business environment, both paid search and online advertising revenue have grown by over 28% since 2007. Marketing Sherpa reports that nearly half of medium to large businesses plan to increase their Search Engine Optimization (SEO) spending in the upcoming year.

I find online marketing benefits outweigh those of more traditional methods in that online offers...

1. Quantifiable Results.  Businesses who advertise online or use SEO can track and measure precisely how their company was discovered, the keywords used in a Google search, click through rates on advertisements, and direct sales results based on internet ads or searches. With this specific knowledge, tailoring campaigns to a particular market becomes easier and ROI can be easily monitored.
2. Flexible Messaging.  With traditional marketing and advertising methods, there are no second chances at making an impression or communicating a message effectively. Once an ad is placed and printed it is essentially permanent. Online marketing is a much more forgiving and flexible option. If it is shown that internet ads are not getting enough attention, companies can quickly and easily make strategic adjustments and reap the rewards.
3. A Focused Approach.  Using internet marketing, a company can hone in on specific customers that are searching for a particular product or service. Rather than convincing a customer to try their product, internet marketing works to position a company as a resource for those consumers actually seeking their specific business offerings.
4. Cost Effectiveness.  SEO and internet advertising is quite cost effective in comparison with traditional marketing and advertising.

Now more than ever it is important to think strategically about where and how a marketing budget is spent.  With online marketing options showing marketers greater value, flexibility, and insight into the changing trends of the market, we can expect to see more companies advertising online to help their firm weather succeed in the future.

What is the most important variable in your marketing mix?

Email Marketing Tips for Targeting Inactive Subscribers

I've been managing an email marketing campaign for one of my clients for the past few years. The database grows slow and steady but it seems it is the same people consistently opening and interacting with the email content.

How can I get the others to participate?

Well, the first critical step is complete, I've
identified those recipients of your email campaign who are inactive.

The point of identifying your inactive recipients is to treat them differently - not to delete them, ignore them or cry over their inactivity. Your goal after identifying and segmenting your "active" and "inactive" subscribers is to spend more productive time on actives and attempt to re-engage inactives.

Here are some things one can do to re-engage inactives:

• Special Offers
  If you are a retailer, for example, consider a special offer such as discounts or free shipping. If you are a B2B marketer you might offer a special white paper that will motivate the recipient to re-engage with your communications.
• Survey Subscribers
  While you are not likely to get a significant response, consider surveying these recipients to help provide insight into their inactivity.
• Update Profile
  Using incentives, drive subscribers to your profile update page where they can change email addresses, update format preferences, demographics and interests. This updated information may now enable you to send them targeted and relevant emails.
• Understand Their Demographics/Profile
  Perhaps a large percentage of your inactives share a common trait. Perhaps they opted in as part of registering for a white paper or seminar or promotional offer. Or perhaps a majority are women, while your content is oriented toward men.
• Try Different Send Days/Times
  If you always mail on the same day or time of day, try some different distribution times (what do you have to lose?).
• Modify Frequency
  Now that you've segmented your list by actives and inactives, consider adjusting the frequency of your sends. If you normally send twice per month, you may want to test sending three times to active subscribers, but only once to inactives.
• Create Different Content
  If your analysis has been able to uncover some common threads among inactives, consider packaging the content differently for this group. For example, a newsletter from a job search-oriented business might logically find many subscribers becoming inactive after completing their job search. For these recipients, the company might want to focus its newsletter content on managing people, careers and the hiring process. Uncovering this type of trend should lead to providing different newsletters or dynamic versions based on a person's profile or stated preferences.
• Try Different Formats
  Test using a text version, for example, that is very simple but with specific links and messaging intended to drive action.
• Test Different Styles of Subject Lines
  If you've used a particular style of subject line, try a different approach with the inactives. Creative subject lines could be one of your most effective strategies in getting recipients to re-engage.
• Monitor Seed/Proof Lists
  Send your messages to proof and seed lists for key domains. Monitor if content or images are causing your messages to be filtered or treated differently with specific ISPs and companies. If problems are detected, consider developing different versions of the messages that may not trip filters.
• Send a Postcard
  If you have your subscribers' mailing addresses, consider sending them a postcard that offers an incentive if they'll update their email preferences and profile.
• Re-engaged to Active Status
  After each email message sent to the inactives, change the demographic status of those recipients that clicked a link to "active." This helps keep your focus on converting the inactives and tracking your success in those efforts.

Here is an extremely useful blog post from Seth Godin where he discusses the efficiencies and inefficiencies of two different email marketing campaign case studies.

What are you doing to re-engage inactives?

Is Viral Marketing Still In Vogue?

Viral campaigns yield the highest ROI... Information about your product spreads naturally, like a contagious disease... only a good one...

I once read up on the 5 C’s of viral marketing:

Community, Compelling, Comedy, Charity, and Contest

Let's talk Community...

We all know that viral marketing in the social media space is all about communities. In fact, I would argue that communities play a larger role than most people think, both online and offline. They can build a brand, kill a brand, make a career, break a career, influence elections, etc. Think about it; from an offline perspective, life is community driven through PTA organizations, church groups, sports leagues, stay-at-home mommy groups, and various school organizations (sororities, fraternities) to name a few. And of course online, you have Myspace, Facebook, Linkedin, Digg, Stumbledupon and hundreds of other social media sites jumping in the scene daily.

Within each of these online/offline communities consumers are talking and having conversations with each other. And, they are sharing opinions, experiences, advice, recommendations and commentary about products, services and companies usually based on real personal experience.

THIS IS VIRAL MARKETING.

The challenge with viral marketing is that it’s not always viral, if that makes any sense... Often, marketers plan for and label their marketing plans as “viral” but 9 times out of 10, it never catches on. It’s the things that just happen by accident that become viral. Remember the Diet Coke and Mentos video? At first, Coca-Cola distanced themselves from the exploding Diet Coke and Mentos viral video phenomenon, fearing it would damage their reputation and brand; however, just recently that have fully embraced the concept and now there are over 7,000 consumer generated videos on YouTube, millions of pageviews, hundreds of comments, and favored by thousands of fans. The community here is not only the millions of YouTube enthusiasts, but also the micro-communities of people and their offline conversations about these videos.

So, while I do believe it is impossible to craft a viral campaign, you can certainly try to influence one:

• Formulate your marketing message. Think about product or service you are advertising and create a message that communicates the benefits and uses of what you are selling. A website is nonnegotiable.
• Make the content on your website sharable. For example, you can allow readers to embed a funny video from your website onto their own blogs. An "email this article to your friend" link is another way information spreads from one person to another.
• Use email as a viral marketing tool. Include a marketing message about your product or service in the tag lines of your emails and also include your advertising message in auto responder emails you send to those who email you.
• Post your content on other Internet sites such as message boards and blogs. However, do this carefully; many forum managers are now aware of this practice and may delete your messages if they think it's spam.
• Incorporate your marketing message into rich media. Video clips and Flash games are very popular on the Internet, so if you have a great idea for this medium your message will spread like wildfire.
• Spread your message off line as well. Tell your friends and colleagues about your product or service and hand them business cards with the URL on them along with a catchy tag line, perhaps the same one you use in your emails.

What are you doing to boost your buzz factor?

The Most Effective Viral Marketing Methods

I struggled with the title of this blog post.  I wanted something kitchy, something to subconsciously imply this is indeterminable... because anybody who tries to sell you a viral marketing campaign should set up shop with an SEO expert who tries to sell you the #1 SER.  It is just not possible to guarantee.

Doesn't mean you can't try...

By far I find narrowcasting activities have proven the most effective for me in terms of generating a viral campaign... Below are 4 such narrowcasting activities I've implemented in my current position over the past year.

Writing 'Special Reports'

• Special Reports work great because they allow you to go into more depth about the Topic or Problem in question where you'll then be able to lead them to how your Product or Service (or Affiliate product) can fix there current problem.
• They give you Instant Credibility, which builds trust in your customer that you are knowlegdable in your industry.
• Website owners are always looking for quality "Free Stuff" to give away or offer to there Visitors and/or Subscribers.
• And your Contact Information will always be inside, no matter what. Meaning, as your report is being passed around the Internet you'll always be able to lead your potential customer back to your website where they could sign-up for your newsletter and/or read up more about your Products or Services you offer.

Putting Together A 'Free eBook'

• Free eBooks work great as well and have the same benefits as I outlined through the special report. The only difference using this approach is, you can put together a free ebook in less time then it would take to produce your special report simply because it doesn't even have to be your own material inside, it can be someone else's.
• And they also allow you to target more then one Product or Service inside because free ebooks are usually a compilation of related articles targetting a particular problem leaving you room to diversify.

Writing 'Articles'

• Writing Articles is probably ONE of the Best and Most Effective Ways to produce a wave of Viral Traffic to your website because every website owner needs FRESH content to feed to there visitors and/or subscribers.
• They also allow you to Target your audience's problem specifically that they're dealing with.
• And at the end of the article you have a spot called the 'Resource Box' to insert your personal Bio and/or Website information. Just imagine if your article were to be picked up by some Newsletter Editor with a large list or High Traffic website and they use it as a 'Featured Article' in there publication, you could see an INSTANT surge of targeted traffic to your website overnight. That's where your 'Resource Box' comes in.

Package a 'Kit' on a Landing Page

• Just using the word 'Kit' sends a message that your prospect is getting something of value. 
• If you package your content of value into a downloadable package that you can store on a Landing Page, you've just exchanged a potentially viral offerings in exchange for lead data.

Perhaps you've noticed what these 3 'viral' methods all have in common...

They're in HIGH demand by website owners.

They're HIGHLY Targeted.

They give You INSTANT Credibility in your industry.

They are all INBOUND MARKETING tactics.

They have YOUR Contact Details leading to Your website.

...they're all FREE!

If you're going to use cold calling...

With all of the online marketing tactics available these days I do find cold calling less and less effective.  But, if you're going to use cold calling for lead generation it is important to sharpen your strategy...

• Use a top down approach
• The executive assistant is our ally
• “Be people with people”
• Standardize all leads regardless of source
• Start with a great database
• Script your introduction & create a calling guide
• Write a voicemail script

On average 20% contacts in a database change annually.

It is imperative to make the most of each call...

• Confirm the decision-maker
• Find other players in the decision making process
• Gather basic information (eMail is critical)
• Start to talk about basic needs and concerns
• Leave your website address on voicemail messages
• Use phone and eMail combination
• Send an eMail follow-up

Regarding the last two points above, using an opt-in eMail marketing campaign can be a great way to generate leads and sales.

1. eMail is cheap. Which is why spammers love it. They don't care whether response rates are low because their costs are negligible. If you want to reach a large number of people and if you have access to a solid, opt-in list, go for it. A test sure won't cost you an arm and a leg.
2. eMail is fast. In two senses. First, your production time is minimal. As soon as you get an idea to test, you can write a motivating email, and hit the send button. Second, your prospect gets your email instantly so responses can start pouring in within minutes. Speed, from start to finish, means you can be a super-agile marketer.
3. eMail is a fabulous testing medium. As a result of the speed I mentioned above, you can get virtually instant answers to your marketing questions. Is a cross-sell offer going to be a winner? Send a group of prospects an email and you'll have an answer. Have you written two great headlines but can't decide which one to go with? Do some email testing and get your answer fast!

Do you still cold call?  What works for you?

Does Networking Play An Important Role in Getting Clients?

Social Networking should certainly help you and your business obtain new clients. In a recent answer I posted regarding Cold Calling vs. Social Networking I cited the following statistics:

Cold Calling Results

Outbound calls made 325

Meaningful conversations (pitches) and brand touches 80

Meetings made 4

Sales made (as a direct result of cold calling) 0

These are average conversion ratios for time spent but it comes with much overhead.

Social Media Results

Inbound calls generated 8

Meetings as result of inbound calls 3

Sales as a result of inbound calls 2

Brand touches (from site statistics unique views of content) 422

Visitors to sales associate's blog Subscribers (RSS) to sales associate's content 27

People following sales associate's Twitter 12

New contacts 71 (on LinkedIn, Facebook, WeCanDo.BIZ, etc)

Listeners to sales associate's Podcast 83

Opportunities to sell found 21

Online conversations had 39

Warm call list (names generated expecting a call) 11

The cost of the social networking blitz to find new business opportunities, other than time and internet connection are small, if anything at all. Most importantly 2 sales were closed, covering any cost associated with the activity and generating a very healthy return.

...If you are not getting results from social networking, you need to adjust how you network. Here are five tips to help you do just that:

1. You Should Always Network In The Right Forums. If your networking objective is to get clients, you should network in social networking communities that your potential clients frequent.
2. Network On A Regular Basis. If you are only networking when you need to get clients, you are wasting your time. Networking is not a one-time action; rather, it is a process of having others get to know you and building relationships with them. You need to use online social networks continuously to raise your online visibility and develop relationships with others.
3. Network, Don’t Sell. A business owner told me once “I keep posting about my business on every social network every chance I get, but have no takers.” This person is not really networking. Rather, he is selling his products and services instead of building relationships. Networking is about creating awareness for your products, not blatantly advertising them.
4. Provide Information About Your Business. While some people try to sell their products more then they should, there are others who don’t tell people anything about their business when networking online. Remember, if people you are networking with have no way of learning more about you your business, they will not be able to do business with you. How do you let others know about your business? Use a signature at the end of every message you post when networking online. Make sure your signature contains some information about your business and a link to your web site, so that everyone reading your posts can learn more about you and your business.
5. Invite Others To Subscribe To Your Newsletter. The best way to continue building relationships with people you meet on social networks is to ask them to subscribe to your newsletter. Use your signature when you are networking online to invite people reading your message to subscribe to your newsletter. When they do, you can continue building relationships even if you or they stop networking on the forum altogether.

How Has Marketing Changed in the Face of this Economic Downturn?

Change is almost always made during the down part of a cycle. Despite tighter business conditions, marketers should look to embrace the positive change this downturn can bring.

 

"Only the wisest and stupidest of men don't change."

 

- Confucius

 

In an industry which tends to cut spending, staff and budget in times like these, it is important to focus on efficiency drivers in order to be better prepared when the economy turns around. The recession will definitely weaken some, maybe most, but it will leave more marketshare for the strong. It is an opportunity to distance yourself from competitors.

 

Here are just some of the steps I have taken to maintain savvy, value-driven marketing since the recession began in December 2007: 

• Seek out pockets of demand; Focus on targets and segments that return - Re-trench bread-and-butter markets  
• Sharpen value proposition  
• Ramp up the Web and inbound marketing efforts, especially Web 2.0 and social marketing tactics  
• Introduce narrowcasting activities into the mix such as whitepapers, podcasts and webinars
• Take advantage of less clutter by integrating forward-thinking strategies with traditional media buys  
• Increase lead generation and nurturing... exit the recession with growing revenue  
• Present ROI that links marketing to revenue goals

 

Seth Godin is calling this recession the opportunity of a lifetime. The opportunity is to find opportunities that deliver real value and have a future.
 
By Jennifer Pricci