Friday, July 30, 2010

How to Use Social Media for B2B Marketing

Tips for business owners on using sites like Twitter and LinkedIn to market your services and establish industry contacts. By J.J. McCorvey  http://ow.ly/2iUFZ
Jul 29, 2010
 
You have got a few employees managing your social media accounts, and you've amassed some followers, friends and contacts. You've posted a few tweets and blogs marketing your product or service to consumers, but you're still stumped at how to reach out to other businesses.

Using social media for business-to-business marketing can be integral to promoting your company and forging industry contacts, especially when you're involved in areas of retail and trade. The truth is, using social media for your B2B efforts isn't much different from marketing to consumers. It's just a matter of shifting your focus and keeping your ear closer to the ground.
How to Use Social Media for B2B Marketing: Defining Your Target Audience
When developing your B2B strategy for social media, the place to start out is to find out where other businesses are going. Who are you trying to market to, and which social media platform are they using? Are there business owners or certain employees that you are looking for? Where are they getting their information?

Derek Edmond, a managing partner at Waltham, Mass.-based B2B marketing firm KoMarketing Associates, suggests using the search function that most social media sites have, such as those of Facebook or LinkedIn. "Most of these sites even have an advanced search option, so that you can scour through regions and titles," Edmond says.

You're likely to find correspondence from individual employees of companies rather than the company itself, says Edmond, and you should keep this in mind as you refine your contact list. One way to do this, with Twitter, for example, is to look through the Twitter lists of other users and follow people with the titles you're looking for.
How to Use Social Media for B2B Marketing: Monitoring Before You Act
Once you have defined your target audience and started developing your B2B contacts, don't immediately start spamming your latest press releases, says Edmond. The key is to contribute to the conversation before you jump in trying to market services. "If there's a Twitter chat going on, join the chat before trying to promote your agenda," he says. "Anyone can post a link to Twitter, but the question is, how do you make them pay attention to it?" One effective way of searching for topics and active conversations on Twitter is to click on or search for certain hashtags relevant to your industry.

Before you start aggressively pursuing your strategy, you should also be monitoring what people are saying about your company by setting up an account with Google Alerts and searching social media sites with tools like Radian6, Salesforce.com or Social Mention. You can also read or subscribe to the blogs of the companies you want to market to, so that you can respond and comment whenever a post grabs your attention.
How to Use Social Media for B2B Marketing: Communicating Your Message
One of your primary goals in your marketing strategy should be to offer resources and knowledge to your followers, says David Armano, senior vice president of digital marketing firm Edelman Digital. "The key is provide value through thought leadership," he says.
Posting Reports and Presentations
If your company has recently completed an industry-related report or presentation, for example, publish it on SlideShare and post a link to it on Twitter. "I think SlideShare is really well-designed for how people are looking for information these days," Armano says. "You can digest it quickly as opposed to doing a really long white paper."
Initiating Interaction on LinkedIn
Another great way to provide knowledge while marketing your company is to join groups on LinkedIn and start relevant conversations. "Groups are the biggest opportunities for businesses," Armano says. "Start a topic around what your niche is, so that you can build an audience that is comprised of other businesses and business owners."

LinkedIn also has a Q&A section where employees of different companies seek advice on different topics. Providing helpful answers to these questions can help cement your role as a leader and reliable source of information in your field. Armano also advises creating a company profile on LinkedIn. This way, whenever an employee of your company posts a link in their status, it becomes aggregated within the company profile.
Organizing Events
According to Armano, one of the most helpful tools social media offers in terms of B2B marketing is the ability to effectively organize events. Armano says that SOBcon, a convention that brings together leaders in social media, is a great example of how to leverage social media to build a following around an upcoming event.

"They put a lot of effort into online community building before and after the event," he says." Reaching out to businesses before an event not only helps boost your attendance, but also helps you to build your customer base afterward.
How to Use Social Media for B2B Marketing: Being Cautious Throughout Your Marketing
Throughout your marketing efforts, says Edmond of KoMarketing Associates, keep in mind that social media shouldn't be thought of as a direct sales tool with B2B clients, or you'll end up disappointed. "If you're dealing with enterprise-level software or a business advertising contract, for example, it's less likely that you're going to see a Twitter update about that," he says. Think of social media as more a generator of quality leads, he says, since "often it can take months, if not quarters, for a client to actually close business."

Edmond also advises marketers to be careful when directly soliciting social media users as you respond to their posts, because you could end up getting overlooked as a spammer. Instead, try to relate your message to an existing conversation that is happening. "If you know your case study is going to address a particular problem in the industry," Edmond says, "Wait for it to come up, then interrelate that issue into your post."
How to use Social Media for B2B Marketing: Using Analytics to Measure Your Marketing Efforts
With any online marketing strategy, it's imperative to have some type of analytics tool is in place that will help you set goals and measure the success of your actions. "Where are people leaving, and where are they coming in?" says Edmond. "What are the search terms or key words they are using to get to your site? These are the questions analytics tools help you to answer."

Edmond advises using tools like Google Analytics, Omniture, or Marketo to measure the quality of your traffic and put conversion methods in place. HootSuite, a Twitter application, also has an analytics tool that allows you to track and measure the effectiveness of your tweets.

As you develop and refine your B2B marketing strategy, Edmond says, don't forget that providing answers to peers and potential customers is arguably the most effective social media marketing tactic. "You might be ignored, but you're trying to foster the problem-solving aspect of social media."

Additional Related Links
http://www.inc.com/guides/2010/06/defining-your-target-market.html
http://www.inc.com/news/articles/2010/04/how-social-media-helps-small-business.html
http://www.inc.com/guides/2010/05/improving-your-social-media-presence.html
http://technology.inc.com/internet/articles/200909/leary.html
http://technology.inc.com/internet/articles/201006/chittoor.html
Kevin Brown www.kbsinsight.blogspot.com

Wednesday, July 28, 2010

Fire Your Marketing Manager and Hire A Community Manager

Fire Your Marketing Manager and Hire A Community Manager

12:11 PM Wednesday July 28, 2010
by David Armano -http://blogs.hbr.org/cs/2010/07/fire_your_marketing_manager_an.html

Okay, maybe that's going too far. I don't really recommend firing your marketing manager. I do however believe that most companies will eventually need to hire or contract with a community manager, if they haven't already. A recent BusinessWeek article called "Twitter Twitter Little Star," describes social media as a booming industry which has caught the attention of corporations everywhere, and suggests the role of a "social media director" and what that person should do. I'd like to dig a bit deeper into what this core function, necessary to create to what's becoming known as social engagement. I'll call the role the community manager.


A community manager actively monitors, participates in and engages others within online communities. These communities can be on Twitter, Facebook, message boards, intranets, wherever groups of people come together to converse and interact with each other. A traditional marketing manager is likely to have little experience with this function. Historically, community management developed outside marketing, in areas such as community organizing (politics) or in niche verticals such as the video game or software industry, which are no strangers to digital outposts such as message boards.

A community manager acts as an ambassador for your organization, whether that person is an employee or contracted to manage your social web presence. A good community manager gives a human form to the faceless corporation. On Facebook Whole Foods, for example, community managers have created a forum that impels customers to respond to its posts. They also often informally engage their customers in the process.

A community manager must be a good or great communicator. He or she of course needs to be social, and understand the social mores of the communities served, and have a strongly developed sense of ethics. He or she should know, for example, when deleting a member's comment is wrong or justified and be prepared to explain why. Enthusiasm is also required. Finally, a good community manager will be well connected, forming relationships with the right people in your communities, the individuals and groups you want on your side.

No doubt companies are flocking toward non traditional job descriptions like community manager. If I were building my my all-star business team, I'd think about how community management works and why I might need a few good ones on my roster.
David Armano is a Senior Vice President at Edelman Digital, the interactive arm of global communications firm Edelman. He is an active practitioner and thinker in the worlds of digital marketing, experience design, and the social web. You can follow him on Twitter.

Kevin Brown www.kbsinsight.blogspot.com

5 Websites That Make Business Travel Easier

Credit to AMEX Open Forum
http://www.openforum.com/idea-hub/topics/money/article/5-websites-that-make-business-travel-easier-bianca-male
Jul 27, 2010 -

Skyrocketing ticket prices and lighter wallets overall have made the ordeal of business travel a big headache, especially for small business owners. Combined with tighter security, delayed flights, lost luggage, and cramped planes, it’s not tough for business travel to turn into a permanent migraine.

With amazing tools like Skype and WebEx, the need for business travel has certainly decreased somewhat. But there are still many cases where nothing will replace a traditional face-to-face meeting.

Say your huge potential client is still on the fence, and needs some last-minute convincing. Or, you need to talk to a new investor, and your pitch just doesn’t come across as effectively when you’re not in the room with them.
Business situations such as these can’t be handled via web-cam.

So, when you need to book that last-minute flight or huge international trip, you should know where to look. There are countless tools out there designed to make business travel easier on you, your business, and your wallet, but here are five that we’ve found to be useful:

1. TripIt: The TripIt service is a magical way to get all of your travel plans combined into one itinerary at the push of a button. All you have to do (after you register) is email your travel confirmation emails to plans@tripit.com; the service does the rest for you. I am checking this one out now!

It’s a heck of a lot more convenient than wading through your inbox, printing every one of them out, or taking the time to format your own itinerary. And it’s definitely easier than showing up at the wrong airport because you didn’t have your confirmation handy.

2. Orbitz for Business: The Orbitz for Business service allows you access to corporate travel discounts and lower prices. It does cost you a bit extra for membership -- but that should be off-set by the savings you get.

3. FlightStats: FlightStats is crucial for any business traveler who’s ever rushed to the airport, only to discover their flight is several hours delayed. The tool tracks flights in real-time for you.

4. Hotwire: Hotwire has tons of options for business travelers on a budget. The main purpose of the site, of course, is to get you the best deals on airfare and hotels, and they claim to save you more than the average deal-comparer. But they also offer other tools, like the Trip Watcher, which shows you the best days to travel to get to your destination for cheaper. You can also set it to track flight prices to a certain location, and alert you when prices go down.- MY PERSONAL FAV - KB

5. Priceline: If you only know about Priceline because of the ads featuring William Shatner, it’s time to check it out. The site lets you “Name Your Own Price,” whereby you put in whatever you want to spend on a hotel, and the site chooses a hotel in the star range and for the price you’ve indicated. The catch is that you don’t know where you’re booked until after the site has charged your credit card, but we’ve heard good things from other users. And, the best part is that you know you’re getting the lowest price.

Kevin Brown www.kbsinsight.blogspot.com

Thursday, July 22, 2010

Top 10 Social Media Tools to Find Your Referral Champions

Jul 20, 2010 - http://www.openforum.com/idea-hub/topics/marketing/article/top-10-social-media-tools-to-find-your-referral-champions-john-jantsch


Mailing list companies and direct marketers have always practiced the art of data appending to create better, more personal lists.
The idea is to take a list with basic contact data and add details acquired from other data sources, such as magazine subscriptions, association membership and even specific purchasing behavior. The end result is a list with a much richer level of information that allows the mailer to personalize offers and communications based on this greater level of personal information.

In today’s socially driven world, marketers are also able to append lists with data given and acquired freely in social networks. Now, adding a customer’s Facebook or Twitter data has become a smart and powerful way to create more relevant offers and socially driven customer relationship management.
Some companies still claim that their customers and prospects don't use social media. I doubt that's true these days for any industry. But this is sure a great way to know for certain.

In addition, this kind of information makes it much easier to identify your advocates and champions -- the ones that are out there spreading the word in social channels and who might be really good candidates for you to target for special attention.

While you can probably search and find the most important social data available for, say, your top 25 clients, adding social data to a list of 1000 prospects could prove a bit tougher.

All kinds of services and tools are evolving to tackle this growing need. Below are several tools that small businesses can use to add social information to their contact records.

1. Flowtown – All you need is an email address to get social data on a contact.

2. RapLeaf – This tool started as a monitoring tool and now offers full appending.

3. Xeesm – A bit more comprehensive search lots of networks and creates a Social Address Book.

4. BatchBook – Full featured online CRM tool was one of the first to bake social appending into the mix.

5. ACT!2010 – The simple desktop CRM allows you to add social data right into records.

6. Outlook 2010 – With the addition of something called the Outlook Social Connector you can add social data to Outlook.

7. Xobni – A popular Outlook plugin that brings social CRM functionality to Outlook.

8. Rapportive – Social CRM built into GMail.

9. SocialCRM for Salesforce – Add on to Salesforce.com to bring social data into records.

10. Twitter Export – Export all of your Twitter followers and then add them to tools above.

John Jantsch is a marketing coach, award winning social media publisher and author of two best selling books, Duct Tape Marketing and The Referral Engine.

Kevin Brown www.kbsinsight.blogspot.com

Drowning Looks Different Than You Think.

by ModernMom, on Mon Jul 12, 2010 11:19am PDT http://shine.yahoo.com/channel/parenting/drowning-looks-different-than-you-think-2010225/
Think drowning involves screaming, gasping, and flailing? Think it’s easy to notice someone drowning? Well, you’re wrong. Drowning is a silent killer. There’s no splashing, waving, or calling for help of any kind. It's not like what you see on TV. Many people would not even notice another person drowning at just 30 yards away. Read on for tips on how to keep yourself and those you love safe from this silent killer whether at the beach or in your backyard pool.


The Facts About this Silent Killer
The Instinctive Drowning Response, a term coined by Francesco A. Pia, Ph.D., is what people instinctively do to avoid suffocation when drowning. The responses to drowning are undramatic and surprisingly quiet. Drownings are the leading cause of injury death for young children ages 1 to 4. Even scarier is that in a small but significant percentage of kids' drownings, an adult will have watched the whole process, not having a clue what was happening (Source:CDC).

Drowning Doesn't Look Like What You'd Expect

Dr. Pia, in an article entitled "It Doesn't Look Like They're Drowning" featured in the Coast Guard’s On Scene Magazine (Fall 06), describes the typical drowning response as follows: "Except in rare circumstances, drowning people are physiologically unable to call out for help. The respiratory system was designed for breathing. Speech is the secondary or overlaid function. Breathing must be fulfilled before speech occurs. Drowning people’s mouths alternately sink below and reappear above the surface of the water. The mouth of a drowning person is not above the surface of the water long enough to exhale, inhale, and call out for help. When the drowning person’s mouth is above the surface, she exhales and inhales quickly as her mouth starts to sink below the surface of the water. Drowning people cannot wave for help. Nature instinctively forces them to extend their arms laterally and press down on the water’s surface. Pressing down on the surface of the water permits drowning people to leverage their bodies so they can lift their mouths out of the water to breathe. Throughout the Instinctive Drowning Response drowning people cannot voluntarily control their arm movements. Physiologically, drowning people who are struggling on the surface of the water cannot stop drowning and perform voluntary movements such as waving for help, moving toward a rescuer, or reaching out for a piece of rescue equipment. From beginning to end of the Instinctive Drowning Response people’s bodies remain upright in the water, with no evidence of a supporting kick. Unless rescued by a trained lifeguard, these drowning people can only struggle on the surface of the water from 20 to 60 seconds before submersion occurs."

Signs of Drowning

Watch for these signs the next time you’re swimming with your kids or others:

•Head low in the water, mouth at water level

•Head tilted back with open mouth

•Hair over forehead or eyes

•Eyes glassy, empty and unable to focus

•Eyes closed

•Hyperventilating or gasping

•Not using legs

•Body is vertical and upright

•Trying to swim in a certain direction but not making progress

•Trying to roll over on the back

Stay Aware to Save a Life
Keep your eyes open for any oddities because even when things seem ok, they may not be. A good way to be sure is to ask your kid or the person you’re swimming with if he or she is all right. If they are rather still, do not answer or have a blank stare, then you may have less than 30 seconds to get to them! As any parent knows, kids make noise in the water. If they are not making noise, find out why and get them out of the water ASAP.
Additional source: Mario Vittone "Drowning Doesn't Look Like Drowning" (mariovittone.com)
Kevin Brown www.kbsinsight.blogspot.com

Wednesday, July 21, 2010

French Authorities Approve Four New Appellations - Did I mention I love Burgundy?

Burgundy picks two new names for value wines; a Rhône appellation needed a name change Diana Macle  http://www.winespectator.com/webfeature/show/id/43233
Posted: July 21, 2010

The French Appellation d’Origine Contrôlée (AOC) system may not be perfect, but for winemakers it can provide crucial recognition of their terroir's greatness—and serve as a valuable marketing tool. Earlier this month, the INAO (Institut National des Appellations d'Origine), the body that governs the appellations, approved the creation of four new AOCs in Burgundy and the Rhône Valley. Producers in Burgundy hope that their two new appellations will improve sales of low-cost wines. In the Southern Rhône, one appellation is being elevated, while another is eager for a name change. All the AOC changes should now be approved by the French Ministry for Agriculture within a few months, if no serious objections are raised.

• Côteaux Bourguignons—Winegrowers have requested that the AOC Bourgogne Grand Ordinaire appellation be re-baptized Côteaux Bourguignons. "Nobody markets wine under the existing appellation anymore as it doesn't have a good ring to it," says Pierre-Henry Gagey, managing director of Louis Jadot. Like the old Grand Ordinaire, Côteaux Bourguignons will be situated at the bottom of the classification system in Burgundy, underneath the Bourgogne appellation, reserved for low-priced brands. The rules for the new appellation will be similar to its predecessor's—wines can be made from either Chardonnay or Gamay and/or Pinot Noir sourced from the greater Burgundy region, including Beaujolais. With demand for Beaujolais Nouveau shrinking, growers planted 500 new acres of Chardonnay in Beaujolais last year.
• Bourgogne Côte d'Or—This appellation will be for low-cost wines from the Côtes de Nuit and Côtes de Beaune areas. Up until now, these wines had been simply marketed as Bourgogne. "The new name will offer a guarantee that a wine is of a good standard of quality, made from this specific zone and exclusively from Chardonnay or Pinot Noir, rather than Gamay," says grower Philippe Charlopin. Consumers can expect 700,000 bottles of Bourgogne Côte d'Or to hit the market in 2012.

• Grignon Lès Adhémar—The Côteaux de Tricastin appellation, located 30 miles north of Châteauneuf-du-Pape, will change its name to AOC Grignon Lès Adhémar, the name of a local village. The appellation has suffered from its proximity to the Tricastin nuclear power plant, which experienced a uranium leak in 2008. As a result, sales of the area's annual production of 15 million bottles dropped by 40 percent over the past two years. The new appellation's reds, whites and rosés will appear as of the 2010 vintage.

• Rasteau—Twenty miles farther south, producers of dry red wines labeled Rasteau Côtes du Rhône Villages will soon shorten the name to Rasteau beginning with the 2009 offerings. Until now, the Rasteau AOC was reserved for the area's red fortified wines. The new extension elevates Rasteau reds up to the status of Cru, alongside Châteauneuf-du-Pape, Tavel, Lirac, Gigondas, Vacqueyras, Beaumes de Venise and Vinsobres. "INAO's decision officially recognizes the quality of our terroir and clarifies our image with wine lovers," says Jean-Jacques Dost, managing director of the Rasteau co-operative winery. Sweet wines will also include Vin Doux Naturel (VDN) on the label.

Kevin Brown www.kbsinsight.blogspot.com

What do you say when you are bothered?

If people say "don't bug me" when bothered by something/someone - what do bugs say when bothered?

Disagreement vs. Disagreeable-Gets ya thinkin'! What are you?

July 21, 2010 by Amber Naslund
http://www.brasstackthinking.com/2010/07/disagreement-vs-disagreeable/

I’m a big fan of disagreement.
Conflicting ideas, dissenting viewpoints, differing opinions are healthy and a really good thing. They stretch our minds, broaden our perspectives, help us understand people and their motivations just a little bit more. They make us all better in the long run, right? Most people would agree with that, and I’m sure all of you would SAY that, even if you acknowledge that disagreement can be uncomfortable, sometimes scary, and once in a while it can devolve into something ugly.

The trouble is in the distinction between disagreement, and being disagreeable.

We ferociously defend our right – and our now rapid ability – to express our viewpoints and to differ with others on theirs. But we often miss the subtle distinction of delivering that disagreement with calm, respect, and some basic manners.

And in this quick-to-lynch environment, if someone is put off by our delivery or the way we treat them in the midst of the discussion and they remove their attention (via unfollowing, or walking away from the conversation), we quickly point fingers to accuse them of not tolerating differing opinions or wanting feedback, rather than considering that it might be our approach that’s the trouble. As humans, we indeed have a right to express ourselves however we like. But likewise, we also have the right to decide where we direct our attention, and when we remove it.

I’ve personally unfollowed or stopped getting into discussions with individuals not because I don’t respect their right to disagree, even passionately, nor even because I can’t consider that they might be right. I walk away because the tone, tenor, and approach of the conversation often leads to negativity, judgment, resentment, or at worst, personal barbs.

For some, every statement seems to be an invitation to do battle under the guise of playing “Devil’s advocate”, and that grows tiresome after it becomes habitual instead of thoughtful. (Someone recently wrote a great post about the downside of Devil’s Advocacy, but I’ll be darned if I can find it. Drop a link in the comments if you have it). It’s as if dissention is a badge of honor, that agreeing with someone means you’re nothing more than a lemming, and that being argumentative is the only way to prove that you have something valuable to say because you aren’t following the herd.

Walking away from disagreement that’s fruitless doesn’t mean we don’t respect the importance and the reality of diversity of thought. It’s a choice to entertain it in a less combative environment.

My good friend and intellectual sparring partner Matt Ridings is adept at disagreeing with things without being disagreeable, and he’s taught me plenty. So is my co-author Tamsen McMahon (and I deeply admire the temperance with which she greets the world at large). Julien Smith is brilliant at challenging my assumptions and perceptions while never making me feel attacked, inferior, or condescended. All of those make for great discussion, for self reflection, for great intellectual food for thought.

There is a difference, my friends, between disagreeing, and being disagreeable. Have you felt this? Do you see the difference? And how can we all be more conscious of which we’re doing?

Kevin Brown www.kbsinsight.blogspot.com

Tuesday, July 20, 2010

Interesting thoughts on a simple biz plan! Not for VC or Angels but for YOU!

The One-Page Business Plan – It Might Be All You Need

Posted by Matthew Toren, on July 20th, 2010
http://www.youngentrepreneur.com/blog/the-one-page-business-plan-it-might-be-all-you-need/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+YoungentrepreneurcomBlog+(YoungEntrepreneur.com+Blog)

One of the common things you’ll hear from people when you say you’re going to start a business is that you need to write a business plan. And there is no doubt that planning is a vitally important part of the process when starting out. You need to know where you’re going and how you plan to get there, and that’s exactly what a business plan should spell out. The problem is, many would-be entrepreneurs have never written a business plan, and are overwhelmed at the very thought of it. Sure, you can find “how-to” resources online that will spell out all the sections and what they should contain, but none of the examples are going to match your business and your circumstances exactly, and if you have a unique business model at all, good luck finding a decent resource.


Depending on what you read, you might think you need to come up with 30-50 pages of meticulously thought-out, detailed material, including comprehensive financial projections, market studies, contingency plans, and more. So it’s no surprise that the idea of having to write a formal business plan has kept some budding entrepreneurs from taking the leap into business ownership altogether.

As I mentioned, you do have a lot of options for help if you buy into the conventional wisdom that a formal business plan is an absolute necessity. For starters, there are several hundred books on the subject, ranging from the “For Dummies” version for about fifteen bucks, to Bankable Business Plans for Entrepreneurial Ventures for $95.00. Or you can download some slick software, like Palo Alto Software’s Business Plan Pro for $100-$200. If you want to go all out, you also have the option of hiring a firm like Portland Oregon’s MasterPlans to create a plan for you, for an average of $1,500-$4,000.

Let’s be clear: if you’re in need of start-up financing, you will need a more formal business plan, and it might even be worth shelling out hundreds or even thousands of dollars and spending plenty of time to create one. Even then though, some bankers will tell you less is more, at least initially. When it’s time for your proposed loan to go to committee – or whoever the decision makers are – they want to see everything. But when you first present the idea to your financier, they’ll just want enough to help them decide whether it’s worth taking it to the next step.

If you don’t need major financing to get your business going, even if you might need it down the road, and if you’re dreading the idea of creating a formal business plan, take heart. A study undertaken a few years ago by Babson College has some good news for you. The study, entitled Pre-startup Formal Business Plans and Post-startup Performance, looked at 116 businesses started over an eighteen year period, from 1985 to 2003, and here’s what they found:

The analysis revealed that there was no difference between the performance of new businesses launched with or without written business plans. The findings suggest that unless a would-be entrepreneur needs to raise substantial startup capital from institutional investors or business angels, there is no compelling reason to write a detailed business plan before opening a new business.

Does that mean planning is unimportant? Again, no it does not. It means you can actually start planning to run your business… planning to do business, rather than planning to plan to do business. It has been said that a goal with out a plan is just a wish. I definitely advocate putting together a well-thought-out, written plan. But for most businesses, that can be as little as a single page.

Welcome to the one-page business plan! Your plan should have the following elements, all of which should be able to fit on one or two pages:

Vision – Your vision talks about what you’re building. Whether it’s to dominate your market or simply be the best at what you do, this one to three sentence statement tells your company’s future.

Mission – While your vision tells the end result of your efforts, your mission statement talks about why your company exists. It talks, in a general sense, about how you will accomplish your vision.

Objectives – This section can simply be a list of bullet points stating your business goals. These items might be, “Generate $100,000 in revenue this year,” or “Hire a full-time assistant by the end of the third quarter.” Don’t worry about detailed specifics in this section; just list end results.

Strategies – Your strategies tell how you’ll meet your objectives. Without going into great detail, list bullet points, such as, “Build a strategic alliance with the Chamber of Commerce to increase local visibility,” or “Maximize gross profit by utilizing co-op advertising with select vendors.”

Action Plans – You’ll still use bullet points here and won’t be overly descriptive, but these listed items will have dates tied to them and offer more specifics than your strategies. Examples are, “Move to Greenway Business Park office – November 1,” and “Negotiate bulk rate pricing with XYZ Supply beginning March 15th.”

This one-page plan, like any good business plan, is a fluid document and will change as your business changes. If you do go for financing at some point, this plan will provide a starting outline for a more formal plan. And even then you don’t have to fret too much. (Check out GrowThink’s innovative Ultimate Business Plan Template software for an easy-to-use, effective way to create a professional business plan to take to any financial backer.)

Unlike the kind of plan you put together for financial institutions, the one page business plan is light, practical, and easy to refer to. You might even consider keeping it posted on the wall above your desk to remind you where you’re headed and how you’re going to get there. If you’ve used a one-page business plan – or a traditional plan – share your experience with the community in the comments!

Thursday, July 15, 2010

How to Create an Enchanting Facebook Presence

Jul 15, 2010 - http://www.openforum.com/idea-hub/topics/the-world/article/how-to-create-an-enchanting-facebook-presence-mari-smith
A Facebook fan page is an essential part of online marketing. You can see some outstanding examples of how large brands use their pages in this list of the top 50 branded pages of 2010. In this article, social-media guru Mari Smith explains how to go from a good fan page to an enchanting one.

1. Use your personal profile for professional networking. Having a personal profile allows you to reach out and add select individuals as friends, comment on their walls, and begin to build key relationships. Plus, be mindful of your status updates and posts—you never know who’s reading your content in their stream!


2. Make use of Friend Lists. To better manage your friends, create lists with specific influentials, for example; you can then more easily view your News Feed each day and quickly Like and Comment as appropriate to continue nurturing those important relationships!

3. Use @ tags strategically. You can have up to six “@ tags” in any update/wall post (on your profile or fan page) consisting of a mix of friends, fan pages, events or groups. Use @ tags to give credit, thank, acknowledge and be enchanting!

4. Add an attractive landing tab to your fan page. A popular tab is a simple “welcome” message with custom graphics and possibly a video message. The purpose of this tab is to inspire visitors to join (like) your fan page. Check out these examples: NHL, EzineArticles, Steve Spangler, SocialMediaExaminer, and my own fan page.

5. Provide an area for your fans to promote themselves. To honor your fans and to help minimize any possible spam posts on your wall, give your fans their own forum using the Discussion tab. Specify exactly how and where you want them to post. For example, I have a long-running, popular thread encouraging fans to promote their Twitter accounts.

6. Respond to fans posts promptly and personally. Implement an effective engagement strategy (you may need team members to help) and reply to your fans’ comments and questions. Personalize your replies and use fans’ first names for an informal feel. BestBuy is an excellent example of enchanting engagement!

7. Surprise your fans and think outside the box. From time to time, give your Facebook fan page a burst of excitement by introducing initiatives like “Fan Page Friday” or “Share Your Blog Day” and invite all your fans to share their links on your wall. Every wall post creates viral visibility for your page throughout Facebook!

8. Give away a special free gift. Using the FBML app on your fan page, you can add any custom content as a tab or in the left column, including an opt-in box. Offer your fans a valuable, free download and you’ll grow your email list as a result. You can then continue building your relationship with your fans via email.

9. Chat live with your fans. Your fans will love to interact with you LIVE from time to time. Use the Vpype or Ustream apps to stream live video and get your fans to interact and chat. Also, try out the Clobby app (Chat Lobby) to chat real-time with your fans. Your fans will love you for the enchanting live element and you’ll stand out from others on Facebook!

10. Get your fans involved in product and content creation. Involve and include your Facebook fans when creating new products or when seeking ideas for new blog posts, etc. This is called “crowdsourcing.” You might also run a contest. Wildfireapp.com is a good choice for contests on Facebook.

Mari Smith is the coauthor of Facebook Marketing: An Hour A Day and the lead author of The Relationship Age. FastCompany dubbed her as the “Pied Piper of Facebook” and is a social media speaker and trainer. You can visit her Facebook fan page and follow her on Twitter at @MariSmith.

Kevin L. Brown www.kbsinsight.blogspot.com

Tuesday, July 13, 2010

Manufacturing Cos and Social Media-Great thoughts from Tradesmeninsights.com

Social Media: How Can Manufacturers Get the Most Out of It?
http://tradesmeninsights.com/2010/07/08/social-media-how-can-manufacturers-get-the-most-out-of-it/

In our day-to-day marketing for manufacturers, we focus on selling the products or services they offer. We talk about the features and benefits and how we can solve their problems. A good and sometimes a one-way conversation centered around us.

Then we jump into social media and expect the same tactics to apply. Unfortunately, they don’t. Social is about building relationships and thought leadership, not trying to sell the features and benefits of a certain product.

According to an article in eMarketer.com, a recent study by LeadForce1 suggests that visitors to B-to-B websites directed from social media are generally uninterested in product or contact pages.

They go there to find out more about us, read our blogs (thought leadership) or check out our management team.




Similar results are found when being referred by Twitter.

The study suggests that social network users are willing to follow the company to check out content, but unlikely to make the jump to the product or sales side of the site.

What are your thoughts on this?

Friday, July 9, 2010

The Ups and Downs of Venture Capital

http://ow.ly/29rGS
Jul 07, 2010 -
Remember 007? Bond, James Bond? Remember his awesome Aston Martin? Wondering what that has to do with venture capital? Keep reading.

First quarter 2010 numbers are in, and Venture Capital investment in both dollars and deals were down. The good news, if you can call it that, is that it's better than Q1 2009.

"But hang on," you say, "I looked at the MoneyTree™ Report myself, and VCs plunked down $4.7 billion in 681 deals. That ain't chump change."

True, a million here and a million there, as Senator Dirkson famously put it, pretty soon you're talking about real money. But compared to 10 years ago, this year's first quarter investment was puny. Venture funds invested $27 billion in the first quarter of 2000 and $100 billion by the end of the year.

"Maybe so," you say, "but somebody put almost $5 billion, with a 'B', in their company checking account since last Christmas."

You're right again. Clean technology investments jumped almost 90 percent in dollars and almost 50 percent in the number of deals. If your company is in alternative energy, pollution and recycling, power supplies and conservation, you might have attracted some of that capital. In fact, five of the top 10 biggest rounds went to clean technology companies.

Ever hear of Fisker Automotive in Irvine, CA? Me neither. But VC Kliner Perkins and two undisclosed firms put over $115 million into the company, and it was the 5th round. Fisker plans to build 15,000 very hot-looking Kama plug-in hybrid electric cars the next year, and 100,000 in the following three years. By outsourcing almost everything, they figure to be profitable after selling the first year's production. The $80,000 price tag will, no doubt, help.

Probably never heard of Henrik Fisker either, right? He's the Aston Martin connection. He designed the DB9 when he worked for Aston Martin; also the V-12 Aston Martin Vantage, and the BMW Z8. You won't be surprised to hear he worked on the electric Tesla too. But back to the venture capital scene.

It wasn't as exciting in the life sciences sector (biotech and medical devices). Both dollars and deals were down by about 25 percent. But for the last year life sciences has been the leader in dollars invested, and there were some folks at Amyris Biotechnology who were thrilled with the $51,000,000 they received. You've probably never heard of them either, but they're trying to make fuel out of beer, believe it or not.

They have a proprietary process that uses "a well established fermentation process that uses our genetically-engineered yeast strains to convert the sugar source into target molecules such as farnesene." Farnesene, you see, is a molecule that is the basis for diesel fuel and automotive oils and lubricants, among other things.

Biotechnology, including Amyris, received more funding than any other industry last quarter. Software, biotechnology, and financial services received the highest level of first-time financing with deals averaging $4.7 million. Predictably, seed/first stage companies received most of the first-time financing.

The medical devices sector was down almost 30 percent in the first quarter, and that dragged the life sciences segment down. Internet-related deals were off too, but $807 million went into 158 deals so there were some happy geeks last quarter despite the otherwise gloomy financial situation.

Interestingly, the percentage of venture and angel funds investing in seed stage companies increased 40 percent from 2009 based on the second annual survey of its members by The National Association of Seed and Venture Funds (NASVF) and the Temple University Fox School of Business.

Most of the funds were small, with less than $20 million under management, and their average investments were between $500,000 and $1,000,000. Most (85 percent) invested in knowledge-based ventures such as technology, software, Internet, science and communications.

In case your eyes are starting to glaze over with all the statistics and big numbers, here's an eye opener: Chubby Brain. Now there's a company name that's different. They use a "proprietary sourcing method" to keep an eye on high-value private companies that are funded by anything from angel investors to government grants and VC firms — even under-the-radar mid-market private companies, they say.

CB Insights, as Cubby Brain is now called, mirrors the findings of the MoneyTree and NASVF reporting — the strongest deal activity in 1.5 years and a jump in green investments. They also note that New York and Massachusetts seem to be gaining on California as those state's share of venture dollars has increased while California's have declined. Nevertheless, the left coast giant still garnered almost half of all first quarter 2010 venture dollars and just over 40 percent of the deals. In fact, 52 percent of all Internet deals were made with California companies, mostly in Silicon Valley, where seed stage deals average $750,000. Let's hope The Big One doesn't happen any time soon.

So if you're an entrepreneur with a company that can promise a 30-50 percent return on investment in five years and you have an iron-clad exit strategy, hoist a genetically-engineered beer to your obviously effective chubby brain, and dream of driving your very own Fisker. It ain't your father's Oldsmobile, but then the future ain't what it used to be.

Thursday, July 8, 2010

Is Social Media Failing to Produce Business Leads?

American Express OPEN Forum  http://ow.ly/28NZh
Jul 07, 2010 -
Former President of CBS News Andrew Heyward wrote in the Harvard Business Review last year that “every company is a media company,” summarizing the idea that marketing is shifting to an environment where advertisers need to produce compelling content in order to succeed.

Recent data suggests that this is indeed the case, and that looking at social media services like Twitter and Facebook strictly as lead generation tools might be counter-productive, especially for companies that focus on business-to-business sales.

LeadForce1, an online marketing automation service provider, studied website visitor data for 218 companies with a social media presence from February through April of this year. The results overwhelmingly showed that visitors who arrived at corporate websites via Twitter and Facebook engaged mostly with content – specifically a company’s blog – as opposed to exploring products or submitting a contact us form.

Diving into the numbers, when users arrive from Twitter, they are more than six times more likely to view a blog post than a Contact Us form. When they arrive via Facebook, the ratio isn’t quite as high, but nonetheless, blog posts and a company’s About page make up the bulk of user visits. About 63 percent of all of the visitors from both Twitter and Facebook look at only a single page.

The conclusion, then, from LeadForce1 is that “Facebook and Twitter do not bring in Leads – these can be used as channels to engage with your existing customers, media, other stakeholders, or for nurturing existing prospects, but not as a medium for generating leads.” With the vast majority of businesses still not measuring the ROI of their social media efforts, that might be seen as a discouraging data point.

However, I would argue that such a conclusion is short sighted, since it doesn’t measure the ongoing impact that engaging with customers and producing quality content can have on the long-term growth of your company. It doesn’t take into account a fundamental principle of social media marketing – the one that Heyward summarized so well in his statement about the evolution of advertising.

The stats are also a bit of a self-fulfilling prophecy – as marketers become more savvy and use social media for conversation and content as opposed to solely direct sales and lead generation, it would make sense that the majority of referral traffic from social media sites is going to content as opposed to product pages and submission forms.

Thus, the thing to keep in mind is that while linking your audience to a blog post might not translate directly to a sale, it might translate to a blog subscription, a retweet, or a share on Facebook. And that audience – which will grow with every quality piece of content you produce – can be re-engaged down the line with news about your products or special offers that directly drive sales.

While social media shouldn’t be thought of in the same fashion as more traditional forms of marketing where lead generation happens at the point of arrival, it would be a mistake to write it off as simply a communications tool with no direct correlation to new customer opportunities.
Kevin Brown - www.kbsinsight.blogspot.com

Crazy Week!