5 Simple Rules for Digital Marketers

1. Listen, engage, and participate.  Measure social media initiatives and tie these measurements back to business value, but keep in mind: it's not a one-way street.
2. Develop a mobile strategy, but realize that mobile is not a channel - it's a platform.
3. No mater the medium or technology, marketers still need to deliver relevant and engaging content to customers.
4. Heard the terms marketing and ROI used together lately?  Take it to heart.  With tight budgets, allocating spending and measuring its ROI will continue to be a running battle in marketing departments.
5. It's too tough out there to commit budgets without a clear return in sight.  Being able to demonstrate value of marketing initiatives back to the overall business objectives is paramount (i.e. what the CEO cares about).

By Jennifer Pricci

*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 Musicians Should Consider Google Plus For Online Music Marketing

Marketing music online isn’t an easy job these days. There are many places to be and a gazillion tools to use. With all the learning and managing required your head can start spinning pretty quickly and your precious time can evaporate quicker than Windex on sun-drenched windshield. But I think Google Plus might just help us with that.


At first thought Google+ looked like another take it or leave it ploy by Google to grab some attention away from the Facebooks and Twitters of the world. But after reading Chris Brogan’s Google Plus 50 post, I have changed my mind.

He goes through and points out how Google+ – along with some of the new features like Circles (more on that below) – will bring all of their stand alone tools like Picasa, Gchat, Gmail, etc together for a one stop social party. Which got even more weight a day later when Google announces is will rebrand Picasa and Blogger.

Add that to fact 400,000+ Android phones are being activate per day it doesn’t take a rocket scientist to see Google might have something here that is useful for music promotion.


Here is the part of the Chris’s post that really perked my interest:


“How long before we see our first Hangout live music “jam?” That’s one record button away from being supercool. And one “name your price” Google Checkout tweak away from being instant micro content for sale.”

How cool would that be? Monetized (or not) push button live shows – with all the promotion tools included – at your finger tips. Almost makes sites like Ustream and StageIt sound complicated.

Circles
CDBaby also recognized the potential of the Google+ Circles feature in a post.  They bring up a great point:


Basically, you can put your friends into different categories and communicate with each of them separately. For most users, circles would probably include “family,” “close friends,” “acquaintances,” “work associates,” etc. But for musicians, this function could have some added benefits if account holders are allowed to create circles for in-town fans, fellow musicians, booking contacts, studio owners, journalists and bloggers, etc.


That will be pretty slick. How many times do you want to share links, vids or chit chat with other artists about music marketing on various social networks but don’t because you don’t want to share that conversation with your fans and vice-versa?

Being able to segment conversations means you may not have to have two Twitter accounts or multiple fanpages to log in and out of.

The Tip of The Iceberg
And really that is the tip of the iceberg. I can’t get in to try out Google+ at the moment to really poke and prod but you can bet I will be in there playing around the minute I get a chance. Stay tuned In the meantime, go check out Google+ for yourself. And I strongly encourage you to go and read Chris Brogan’s Google Plus 50 post and check out the conversation going on in the comments because he goes into way more depth than I have time or first hand knowledge to here.

Oh and as a side note, Google getting bigger and better is kind of freaky. Hell, between my email, my reader, my phone, etc, the conspiracy theorist in me knows they have a crap load of my information. But [fingers crossed] hopefully it is much ado about nothing and I can reap some time saving and fan finding benefits of pretty innovative thinking on their part.

What about you? Do you know something I don’t? Will you use Google Plus?



By Jennifer Pricci

Achieving The Coveted:Viral Marketing

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.

• Formulate your marketing message. Think about the 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?



By Jennifer Pricci

RIP Cold CallingSurvived 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?



By Jennifer Pricci

Marketers Rank B:B Challenges

What are the greatest challenges that B2B marketers are facing? From generating high-quality leads and a high volume of leads to generating public relations buzz, see which challenges topped the list.

Today's Most Significant Challenges for

B2B Marketers to Overcome

The call from the sales force is not "Give us more leads" – it’s "Give us better leads." As you can see in the chart, marketing teams are aware of this issue and are responding to the challenge.

Depending on your lead generation process, lead quality may be the result of either the original state of the lead or of a nurturing process to determine if and when the lead is sales-ready. The latter case – a nurturing process – also addresses the second most significant challenge shown in the chart above: marketing to a lengthening sales cycle.

A strategic nurturing process not only identifies when a lead is sales-ready, but can pinpoint at which stage of the buying cycle the prospect is in, to forecast timely opportunities.

When the quality of a lead is dependent on its original state, it usually means that all but the most obviously disqualified leads are handed off to the sales force as they are generated. Surprisingly, this practice is still very common in B2B marketing.



By Jennifer Pricci

Sell the HOLE – Not the DRILL

"As much as creative marketing and promotions can help a product, service, or company stand out," writes Linda Ireland at the MarketingProfs Daily Fix blog, "it always comes down to a simple premise: Did you solve the need that triggered the customer to act in the first place?" In other words: You can surprise and delight customers all you like, but it won't matter if you don't fix what they asked you to fix.

So keep your focus on this goal with tips like these:

• Do what you said you would do

You'll impress customers by providing the product or service you promised, on time and without any surprises along the way. It would seem self-evident, but this oft-forgotten concept forms the foundation for every positive customer experience.

• Don't create more work for your customers

They're paying you to make a pain point go away—it won't seem that they've gotten their money's worth if they have to jump through hoops to get anything done.

• Don't tout unnecessary benefits

A slew of new features won't excite a customer who doesn't need them; if you insist on discussing them, it'll start to feel like tiresome oversell. "Keep it simple," she says. "Fix their problem. Then stop. Then solve another one."

• Don't forget the emotional aspect of customer experience

Inspire loyalty and satisfaction by matching your actions to the way a customer should feel at each stage of the process.

The surest way to surprise and delight a customer is to roll up your sleeves and solve her problem.

Do you have a secret for identifying customer's problems so you can figure out how to solve them?




By Jennifer Pricci