Marketing Digressions

Blogging Versus Other Social Media

The results are in from the quick poll of CMO’s and marketing executives regarding weather it would be a mistake to abandon blogging for other social media efforts.   The overwhelming answer was – YES.  Here are some direct quotes:

As more and more people rely on such important resources as Wikipedia for detailed information, I see B2B blogs of equal importance. If a B2B company is the world expert on blue rectangular widgets, then they should be talking about them on their own blog, and others. When a customer or key influencer is searching for specific details about that specific product, their blog will be viewed as the go-to resource. Builds credibility. Expands awareness. Generates leads.  And even helps past customers feel better about their decisions. – Robert F.

It depends on the product you're selling, but in general, if you have something interesting to say about the product or market, then I think a B2B blog is a great vehicle. Show your customers that you're an expert, and become an invaluable resource for them. Then use the blog content as material for your other social media platforms. The sales team can use the articles to start a conversation. And as mentioned before, it seriously helps SEO results. If you only have the resource to do one "digital" plaform well, make sure it's a blog.  – Steve C.

I'd say it depends on the value provided. Blogging can provide thought leadership as well as keyword relevance for search engine optimization. There are so many variables involved to determine the best plan to achieve desired results. – Bill M.

 

Public Relations 2.0

Are you wired into PR 2.0?  If not, here is a quick list of the sites that should be on your radar:

• Newsvine
• News Gator
• Google News
• Yahoo News
• Businesswire
• PR Newswire
• Topix

Get your message out there......

Stumbleupon.com

Have you ever wondered how big the web really is?  Are you curious to what in the world could be filling up all of those vast corners of the internet?  Look no further.  Take a ride on www.stumbleupon.com.  This cool invention will bring you the nooks and crannies of the web.  Here is how it works:

"Using a combination of human opinions and machine learning to immediately deliver relevant content, StumbleUpon presents only web sites that have been suggested by other like-minded Stumblers. Each time the 'Stumble' button is clicked, the user is presented with a high quality web site based on the collective opinions of other like-minded web surfers."

You can personalize your browsing or you can just freely stumble (my preference).  I dare you to give it a try.  You will find yourself addicted in no time at all.  Happy stumbling.

ICOMP, Microsoft and Google.

So Microsoft is all up in arms about Google's potential purchase / merger of DoubleClick.  So much so that they have created ICOMP (Initiative For Competitive Online Marketplaces) along with Burson-Marsteller.    One of the most humorous statements on this site by Microsoft and friends is the following:

"Intellectual property rights foster creativity and innovation, including online, by enabling firms and individuals to capture the commercial value of their efforts."

Perhaps Microsoft should look in the mirror.  They are the kings of stifling creativity and innovation by smaller firms by their strong arm tactics to push their operating system and agenda down the throats of every PC maker - primarily with bribe money better known as "Marketing Development Funds".  In 2002 Microsoft provided Dell with a sum close to $30 MM to "promote" their new operating systems.  I know - I was there and spent quite a bit of it.

Good for Google.  Finally somebody can scare the pants off Bill Gates.

Summary of Guy Kawasaki's chat with eBay Founder Pierre Omidyer

Here is a detailed summary of Guy Kawasaki's interview with eBay founder Pierre Omidyer.  Although it occurred in September of 2000, it provides a fascinating set of fundamental key take-aways that any entrepreneur should not forget.  With eBay Live happening right now, it's a great time to "rediscover" the essence of the concept.  Because the video is quite long, I felt a quick reference guide may be in order.

Rules to build your business buy:

• Build it around the community and the users, not for the product to be sold
• Force yourself to spend time in all parts of the business (from Care to IT to Sales)
• Talk / listen to your customers / users everyday

How to staff the right way:

• Be leery of "founderitis" and be able to let go and trust others
• Hire folks who know more than you do in key areas or disciplines
• Empower others to be experts in what they do and then step back

Find the source for growth / buzz:

• Seek out and understand the communities that drive opinions in your space
• For eBay, it was initially the newsgroups
• (implied point) Today it is blogs and social networking sites

Have a core set of values:

• For eBay, it was to provide users with a more efficient way to manage a transaction
• The key was to provide a way for users to aggregate their communication & sales facilitation
• This translated into consumers becoming producers

It's tougher to launch a business now than ever before:

• It's a crowded space
• Raw hype and buzz without a solid product is not a good thing
• Early on, your brand image is built upon the experience you do or don't create
• If expectations are higher than the delivered experience - your brand will suffer

Acquire the right venture capital partners:

• They can bring huge value beyond money - regardless of your business platform
• For eBay, VC's allowed for growth versus just keeping the lights on (eBay was cash flow positive from the start)
• The value of a good VC goes beyond funding - to strategic partnerships and hiring talent
• Be careful in how you allocate equity - base it on the financial status of your business

Mistakes will be made:

• While key strategic blunders were minimal, operational mistakes did (and will) happen
• Too little investment into core areas, such as customer support and technology, caused issues

Key hiring (Meg Whitman as CEO) is tough but can be done:

• Benchmark Capital (VC) assisted with recruiting, along with a retained search firm
• Pierre and Jeff agreed up front that neither could be the long-term CEO to take eBay to next level
• They went through 70 names and feared they could not get Meg
• Key face-to-face meetings allowed eBay to show the human side of the business to Meg
• Meg could quickly focus in and translate their stories into real business and marketing concepts
• Transitioning to Meg required her communication skills and respect of eBay's existing "history"

Staying motivated after the IPO (attracting and retaining talent):

• Focus discussions on the difference between good and bad quality businesses
• Emphasize the "human side" of eBay, such as users who went from nothing to everything
• Speak of true stories of your customers' / users' successes to develop a moral high ground
• Drive home the value proposition you provide to your end users

There are downsides of going public:

• You must balance strategic decisions between impacts on "the street" and "the company"
• Performance becomes a quarterly focus and can antagonize the longer term decision
• Decisions you make as a public company may not be those you would have made while private

Managing growth:

• You want to maintain a world where your users / customers drive your community / innovation
• Achieving a mass market stage may require you to focus on less than 100% of your users

How to stay motivated during maturity:

• Pierre stays motivated because eBay is a fundamentally "good thing" for the users
• eBay allows folks to go from customers to producers (issue / value equation)
• The "product" is tied to a larger social benefit for the global marketplace

Giving back to the community:

• When you achieve a certain level of personal wealth, then give back to the community
• It's a concept that is easier to say than do
• There is a complex set of decisions and processes to make it happen
• Ensure that you do your research (and get help) on each idea that you could invest in
• Take your time and screen the business cases with care
• Focus on making a lasting impact on society
• Pierre and his wife would like to ensure that we all rediscover the concept of community

Again - to see the full video go to Guy Kawasaki's posting.