Marketing and social media consultants hear this a lot “Your services are expensive”, never mind when you are a consultant with extensive traditional and digital and social media marketing experience
When considering the quotes from marketing or social media consultants, a lot of factors come into play.
A Major part of every business (small or large) success is the ability to implement an effective marketing strategy.
That becomes even more important when you look at the constant and fast evolution of the digital/social media landscape.
Keep in mind that marketing, traditional or digital is not a magic wand, it does not work overnight, it requires perseverance and commitment.
Not all platforms will work every time or for every case, it takes know how, testing, measuring. Keeping up with the developments, especially in the social media field takes time, takes keeping up with trends with what is done, what has worked, what has not worked, not a time commitment most small businesses that takes time.
In my experience, most small business owners want to focus on the big picture, on their business, on what they are passionate about, not marketing. At the same time most small businesses cannot make the financial commitment for a full time marketing department. Continue reading
Social customer care or social care; when customer care goes social
Brands and companies have been slow embracing social customer care and even trail blazers have had mixed overall results, one of the main reason being that customer service and customer satisfaction is often times lip service rather than a core corporate value.
Did you know that :
- 80% of companies say they are good at customer service, but only 8% of their customers agree.
- Only 5% of unhappy customers complain in a way brands can find it. The other 95% just disappear (often to competitors).
- 40% of customers who complain on social media expect a response within an hour, but the average response time of brands which respond at all is five hours.
- Brands spend $500 billion on marketing every year, but only $9 billion on customer service!
Why is that?
The psychology of choice:
Ask any entrepreneur and they’ll probably tell you it’s getting harder to forge meaningful relationships with customers Choices for just about everything multiply making emotional connection with the product or service critical.
A big part of an entrepreneur’s job is to notice things other people miss, understand the motivations behind the series of decisions that lead a customer to take action, hopefully being to buy your product. Understanding how users feel during that process is what differentiates your business. The better you know what turns them on or off, their emotional connector, the more likely your prospect will buy
Very interesting NPR interview; Stanford professor Jeffrey Pfeffer‘s latest book is “Leadership BS: Fixing Workplaces and Careers One Truth at a Time.” The leading management thinker and columnist for Fortune magazine says almost anyone these days can call themselves a leadership expert.
He explains why people gravitate to leaders who are “lying narcissists” even though the best leaders exhibit qualities such as modesty, authenticity, truthfulness, trustworthiness and concern about the well-being of others.
Pfeffer tells Here & Now‘s Meghna Chakrabarti that CEOs who create bad workplace environments should be held accountable. Pfeffer says “just as we hold people and companies responsible for their environmental pollution, we ought to hold them… accountable for their social pollution.”
Read more it in the article posted on the NPR Here and Now website
Basecamp’s co-founder doesn’t obsess over valuation
How much are we worth? I don’t know and I don’t care.
I was recently speaking to a class at a local university and the topic of valuations came up. One student asked me what our valuation was. I gave her the honest answer: I haven’t a clue.
How is it possible that a successful software company today doesn’t know its worth? A valuation is what other people think your business is worth. I’ve only ever been interested in what our company is worth to us.
Startups these days are bantered about as if they were in a fantasy football bracket. Did you hear Lyft raised another $150 million at a $2.5 billion valuation? But Uber got tossed another $2.8 billion at a $41.2 billion valuation! Then there are the companies barely off the ground getting VC backing with 25x valuations, despite having no product or business model.
Entrepreneurs by nature are competitive. But fundraising has become the sport in place of the nuts and bolts of building a sustainable business.
The last time I considered Basecamp’s valuation was nearly a decade ago. We’d been approached by dozens of VC firms looking to invest. But with a solid product, a growing consumer base, and increasing profitability, we didn’t entertain any offers.
Then, in 2006, I got an email from Jeff Bezos’s personal assistant. Jeff wanted to meet. I’d long admired him for what he was building at Amazon, and how he generally sees the world. I took the meeting.
After a visit to Seattle and a few more calls, Jeff bought a small piece of our company. I didn’t take the cash out of some fantastical desire to turn Basecamp into a rocket ship. Instead, his purchasing shares from me and my co-founder took a little risk off the table and gave us direct access to the brain of one of today’s greatest living entrepreneurs.
Read the rest of the story
For Porsche social media is not just an additional tool in order to connect to online-savvy audiences, it’s the backbone of their online strategy
Porsche is mining the always-on sensibilities of social media to encourage fans to share and consume content from one integrated platform, which is www.porsche.com . Porsche is using content curation tool Storystream to steer this efforts, building microsites that give fans a holistic view of what’s being said about certain car launches of campaigns worldwide.
“We do not believe in a linear progression through a virtual funnel, but recognise that each customer chooses their individual path to form a purchase decision. We thus believe that Porsche must understand the specific needs of the customer in his individual situation and listen to signals he/she is sending in order to cater the right content at the right point in time. In order to work in this context, every bit of content needs to be responsive,” Porche’s digital marketing and dialogue manager and Deniz Keskin told The Drum.
To accelerate the plan, Porsche is encouraging its agencies and ad tech vendors to get tighter to companies like Google, Facebook and Twitter in order to create content that fuels business goals. It’s an approach the car maker tries to balance with what it hopes are more agile ways of working directly with its marketing partners so that it can respond to communication challenges.
“Social media is more than an efficient and speedy way of communicating to a (primarily) younger target group. As a luxury manufacturer, we see more and more of our actual customers in that space,” said Keskin. The discipline is used to hit three key goals; building additional awareness for Porsche’s communications, amplifying the conversation around through brand ambassadors and listening to conversations that could become early signals for business issues.
“This is why we regard Social Media not only as an additional tool in order to connect to online-savvy audiences, but as the backbone of our online strategy,” said Keskin.