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Focusing on customers to the exclusion of everyone and everything else can kill a business just as easily as neglect.
This article is from Digital Tonto and I selected it because it was thought-provoking and something we as marketers and innovators should pay attention to.
Here's what caught my attention
“The customer is always king” has long been a time-honored business adage. Peter Drucker, the most renowned management thinker of the 20th century, was probably best known for advocating a consumer-centric approach.
A lot of the confusion stems from a misunderstanding of what Drucker actually said, which was:
"the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs".
The truth is that a successful business must balance the needs of a variety of stakeholders.
The Stupidity of Crowds
"The ability to make distinctions between smart and dumb crowds can be the difference between a runaway success and unequivocal disaster"
There’s a reason why people like Henry Ford and Steve jobs don’t like listening to customers—customers are a crowd and crowds are often stupid.
They usually represent the conventional wisdom of the present, rather than the possibilities of the future and following them often leads to mediocrity, not excellence.
That’s why truly visionary entrepreneurs make their fortune from betting against the crowd. They create something new, something nobody is asking for because they’ve never seen it before. It’s difficult to “start with the customer” when one doesn’t exist yet.
Selected by Jan Gordon for Curatti covering Curation, Social Business and Beyond
Read more here: [http://bit.ly/1kMjtf5]
Are you sure you want to delete this scoop?
The Idea of the Customer comes first, then the plan to pull them into your market
This Infographic from Pagemodo, incorporates 2011 data on how small business owners feel about social media and how they measure what they perceive as success via these marketing channels.
Specifically, focusing on whether small businesses' are utilizing social media properly and know on how to measure ROI correctly.
This piece is written by Joe Fernandez for his blog socialmouths Infographic from ArgyleSocial
In this article, the author asks the question: Is social commerce the next big thing on the Internet but, is the consumer ready to make purchases from social networks?
What caught my attention:
**According to Gartner Research, by 2015 companies will generate 50% of web sales via their social presence and mobile applications
The author asks this quesstion and has some very interesting statistics to tell us about what's really happening.
**If you are here is because you are at least above the typical social network user, I know I am. You’ve probably purchase products online before.
**Have you purchase anything through Facebook? I have not.
So let’s take a look at this new infographic from ArgyleSocial, which perhaps brings a more realistic view of the state of social commerce.
The main points here are:
**Audience size doesn’t always translate into more revenue. Smaller brands tend to have bigger audiences and I think this is due to better communication strategies
**Only 17% of the brands included in the study feature products and 4% have integrate Facebook checkout features
****Brands are not asking for a sale. 49% never include calls to action in messages
**on Twitter. 44% on Facebook Only 29% include special offers/deals on posts
**(Even though we know most people “Like” brands to get access to them) -
**65% of the brands only share their own content
**91% do not use premium social media management tools and rely mostly on free solutions
**We, as entrepreneurs, have the advantage to become aware and adjust a strategy much faster than a big corporation.
**Are you already selling your products on Facebook?
**Are you planning to do so?
**Or from the consumer side, are you making purchases on social platforms like Facebook?
Curated by Jan Gordon covering, "Content Curation, Social Business and Beyond]
Read full article here: [http://bit.ly/ya5tFD]
This post was written by Charissa Grandin on Lingospot Blog I selected this because I thought the suggestions were very helpful whether you're creating it or curating content.
****For some reason the link at the top that leads to the article is broken at the time of writing, to read the full article, scroll to the bottom, that link works fine.
Having the right online content for your business can help you retain customers and attract new ones.
**What can you do to keep your existing customers coming back and invite additional customers to your business?
**Below are some tasks you can get started on today to improve customer retention through content.
**Needs and concerns - What are your customer's needs?
**What are they worried about?
**What do they most need?
****Create content that alleviates their most urgent concerns and offer solutions
**Make a list of keywords and phrases they may be searching for that will lead them to you
**create content around those topics
**Frequently asked questions
**Make a list of all the questions people ask and create content around them using the word solutions in your title
**Create lots of content
**Put out as much content on your site, twitter, Facebook, etc.
**The more content you have online centered around your key subject, the more likely you are to rank highly in search
**Engage with your audience, be active in online communities
**Include links to your content that address concerns you come across in your online interactions
**Promote your content
**Tweet it, tell everyone about it, if your content is useful, people will share it with their networks as well.
Curated by Jan Gordon covering, "Content Marketing, Social Media and Beyond"
"Content Curation, Social Business and Beyond"
Read full article here: [http://bit.ly/ylR5p1]
I selected this piece written by Michael Britto from 11/2011 via socialbusinessnews because at the end of the day, we all want to see evidence that there is indeed ROI from our social media business efforts.
In this article, Research consulting firm, Bain and Company has found concrete evidence that companies who have adopted social media early on (Dell,. Wal-Mart, Starbucks, Jet Blue & American Express) have captured real economic business value from their budget investments.
Here's a brief summary of this article:
1. Link social media efforts to concrete business objectives
**Bain has provided this matrix with real examples of companies that were successful in linking social media to business objectives.
**Focus and tailor your efforts to engage your key customers
**Bain identified 10 segments of social customers.
**Members of these segments frequent different social media platforms and prefer different types of content and engagement models. (As illustrated in their social media consumer segmentation)
2.Build a social media organization to deliver results
**Smart companies mobilize cross-functional teams spanning marketing, sales, public relations, corporate strategy, customer service, product development, IT, HR and legal.
**They are building social capabilities, behaviors, processes and workflows into the underlying DNA of the organization rooted in change management.
(Bain outlines three organizational models based on their study in this article)
3. Monitor and measure the results—then close the loop
**Creating the right measurement philosophy to measure and track results is mission critical.
4.Be flexible and adaptive.
It’s still early days
****We live in the culture of NOW! Social media is one area in which everybody is learning and adapting in real time – customers, partners and the organization.
**** Just as companies need to continuously experiment to determine what works for them and their customers, they also need to negotiate an increasingly crowded playing field, with newcomers always joining the game.
**** The companies that succeed will be those that are flexible, adaptable and ready to change.
Curated by Jan Gordon covering "Content Curation, Social Business and Beyond"
Read full article: [http://bit.ly/wR9CsL]
Stephanie Schwab wrote this article for Social Media Explorer
It's that most wonderful time of the year ... time to predict the future as we close out the year!
Stephanie Schwab has given us some great observations about the year ahead.
Here are a few things that caught my attention:
Social Media Influence
2012 is not going to be the year that a perfect tool emerges, but it will be a year for broad adoption of the ranking tools and lots of C-suite talk about “influence” in general.
Convergence of Marketing & Technology & Data
Marketers are going to take technology into their own hands and either train or hire people within their own departments who can move much more nimbly and creatively than traditional tech departments can:
Gleaning insights out of Google Analytics, Facebook, Twitter and YouTube; they use the data generated to determine:
****what content to provide within each of their platforms, to develop better promotions and events
****to figure out which products are resonating within various consumer communities
Curated by Jan Gordon covering "Covering Content Curation, Social Media & Beyond"
Read full article here: [http://bit.ly/s1pK55]
I found this post to be very useful in checking the results of our online marketing efforts easily and quickly to make sure what we're doing is effective or not.
This is a guest blog post by Samantha Schultz, an online marketing specialist and project manager at LyntonWeb. LyntonWeb helps companies grow with creative inbound marketing and technology solutions.
" Most business owners and marketing managers are too busy to dive into website analytics every day. However, it is important to keep a pulse on how your online marketing programs are performing so you can adjust them as needed.
The following is a recommendation for a 10-minute, 5-point inspection to use weekly or bi-weekly in order to keep current on your latest metrics.
Read more: http://blog.hubspot.com/blog/tabid/6307/bid/24897/How-to-Review-Your-Marketing-Analytics-in-Just-10-Minutes.aspx#ixzz1Xodvv0CZ
Tom Johansmeyer wrote this piece for Social Times. I like his observations and suggestions. I highlighted some things that I think are really important.
This is a great starting point for developing corporate blog content. Adjust based on your needs, but this will help you get up and running.
**"What you need to do is figure out the right mix of information and pitching in order to turn your efforts into a return on investment (ROI)."
Excellent advice above, this is a process, requires fine tuning, always keep in mind, relationship first.
There’s no silver bullet in content marketing. Different markets (and companies) have different needs – obviously. Getting started, however, can be tough. When faced with a content marketing tabula rasa, how do you decide your first move?
As you deal with the anxieties of over-selling and underperforming, keep the following tips in mind. They are broadly applicable and help you get out of the gate strong.
Digital marketing can either make or break a small business. If you do it well, you’re rewarded with a reliable and growing stream of customers.
Digital marketing can either make or break a small business. If you do it well, you’re rewarded with a reliable and growing stream of customers. If you do it poorly, you can kill your brand or your business with wasted time and blown budgets.
How do you give your business the best chance to be on the successful side of the equation?
Here are a few highlights:
We have inbound marketing, attraction marketing, email marketing, influence marketing, network marketing, content marketing, outbound marketing, affiliate marketing and so on.
How do we pick one, especially if we are small business owners and not marketing experts?
The most important word in those phrases is “marketing.” It’s the root of what we’re trying to do.
If you charge ahead with digital marketing without a clear goal and way to measure your progress, then it doesn’t matter which marketing method you select.
Begin with setting the theme for your campaign. Your theme will be high level and visionary in nature. You then create three (no more) goals that if reached will propel you towards your goal.
Now you plan. How will you reach your goals, what needs to be done, what level of resource will be committed to each action and so on.
The next article will address creating marketing messages,
Circumstance Marketing, and crafting those messages for the digital world. So stay tuned!
Selected by Jan Gordon for Curatti covering Curation, Social Business and Beyond
Read more here: [http://bit.ly/HY27zZ]
Growing stream of customers from inbound or attraction marketing works
In his recent business trip to Australia, Edelman’s Steve Rubel discussed his thoughts on the future of the media with Yvonne Adele at Social Media Club Melbourne.
Here are some highlights from this article:
*** Content surplus as a bankable trend:
In an era of self-publication (for brands as well as individuals) and increased noise we’re all faced with the problem of too much content and not enough time. For media companies, scaling this information and providing value through quality curation is a great opportunity to solve this problem for the consumer.
Steve’s top tips for being a quality curator:
- Be knowledgeable and well read on your subject matter of choice;- Save materials for later reading – it’s all an opportunity to be well informed and provide value to others;- Focus on depth, not breadth. As Steve said, he knows a lot about a few things, and little about most things.
***People want to connect with the human element of a brand and those that work for the organisation.
***Journalists and media are now community managers. They have to see their role not only as a reporter/journalist/presenter – but as a brand ambassador who is able to acquire consumers and an build an audience through these channels.
***Steve’s top three emerging trends for media?
1) Building business models that incorporate curation;2) Increased data mining and analytics about real-time engagement with media content;3) The increased importance of facebook’s open graph.
Read full article http://j.mp/H17F45
Moreover, Steve Rubel also moderated a News Limited and Herald Sun panel on the future of journalism.
If you have an hour to spare, I highly recommend checking out the full hour-long video discussion here: http://www.youtube.com/watch?v=lSRhDqeBtmg
By Pivot Conference - http://bit.ly/wkNX8s
Does a brand’s social presence impact your purchase?
An Infographic published by Mr. Youth - http://bit.ly/zgjXLd , a word of mouth marketing firm, polled 4500 adults to uncover the impact of social media on purchases.
They discovered that social media not only influences brand reputation and PR, but often can lead directly to a sale.
Over 90% of respondents either received or made recommendations to friends and families on Facebook. 65% of these social recommendations directly led to a purchase.
On top of that, 80% of those who received a response to a social media post by a brand made a purchase as a result of that interaction.
With numbers as striking you’d think businesses would be quick to comprehend. Yet according to the study, brands only respond to half of their social media posts, divided almost equally between Facebook and Twitter.
Download here: http://bit.ly/AcwkmT
I selected this article, posted by Pam Dyer on socialmediatoday for its comprehensive Infographic and because it gives you great criteria for implementing a strategy that you can measure, tweak and get the best ROI.
We all know the purpose of any data is supposed to help us make business decisions faster while getting better results.
**When implemented correctly, social media campaigns on Facebook, Twitter, and other social networks enable brands of all sizes to track sentiment, spot trends, filter and analyze data, collaborate with fans, and improve ROI.
**These tools empower companies to start and maintain conversations, deliver first-class customer service, and drive sales — immediately, at the click of a button.
What you will find in this piece:
**How to use the Social Media Lifecycle: The key steps that get you from monitoring to decision, action, and results
**Best practices for monitoring, analytics, engagement, reporting and collaboration, modeled after the most successful brands in social media
**What Social Media ROI is, how to think about it, and ways to measure it
Selected by Jan Gordon covering "Content Curation, Social Business and Beyond"
Read full article here: [http://bit.ly/xaIteD]
http://www.networkempire.com/curation-intro-sign-up/ In this video, natural language processing expert Russell Wright explains the difference between premium and other curation models.
This video is worth watching more than once. Lots of great information!
Selected by Jan Gordon covering "Content Curation, Social Media & Beyond"
Content marketing is popular, but who or what will fund the production of content? In this insightful article, Toby Murdock shares his ideas.
If the economics of online are going to fundamentally reshape the revenue potential of media publishers, where will the money come from to pay for professionally-produced content?
The answer could come from the segment where content production is really booming: content marketing.
Marketers are finding that the old tactics do not apply into today’s world. Instead of focusing on the sales process on how marketers convince prospects to buy, they are finding they need to think about the buying process and how customers decide on what to buy.
**And to insert themselves into that buying process, marketers are finding that creating authentic content that solves customers’ problems and answers customer questions (and does not necessarily promote the marketer’s offering) is a most effective approach.
For those of us who are not going to Content Marketing World in a few weeks, this article (by Michelle Linn from Business 2 Community) gives us a taste of what will be covered. She asked a few of their speakers to share their insights on some content marketing challenges. There's lots of good information, insights and observations for you to think about and maybe implement some of them.
"This week, they let us know what their biggest content marketing challenges are — which might give you some idea of what to focus on as you work through your own content marketing processes. Can you relate? And what can you add?''
Here are a few of the questions:
What technology excites you most as a content marketer?
What is your most prescient content marketing prediction for 2012?
What caught my attention was:
The very act of staying focused on quality is one of the most important things you can do if you’re serious about your craft. In our hurly-burly information age, we’re inundated with ideas every day — every hour, actually. Articles are repeatedly flung through the internet-y tubes. In many cases, it’s great advice. But let’s be honest — sometimes editors are looking for articles to fill holes, and sometimes they’re tweeting to sustain their own numbers. So occasionally, it’s OK to ignore the latest “9 tips” or “must-do techniques.” Knowing what’s creating buzz is important, but quality is important too — and that takes time.- Susan Blue (@susangrayblue)
I ran across this extremely valuable post by Kristi Hines shared by AskKim on Unbounce blog. It's time for all of us to understand how our work is being received. Learning how to use Google Analytics 5 to measure referral traffic and conversions is crucial to success. This article is full of good information and will help to fine tune your content strategy.
I do agree that the focus should always be about building trust and brand loyalty through outstanding content, products and services first then ROI.
First off, I want to preface this post with the fact that social media shouldn’t be done only with the goal of making direct conversions. Social media is about building new relationships, generating word of mouth marketing, and strengthening brand loyalty with your customers.
That said, I know that there are a lot of you who may be curious on the monetary value of your social media campaign, have clients that are asking the value of the social media services you provide for them, or simply want to learn more about how your social media strategy is leading to conversions.