Archive for February, 2009

Um, how’d it get to be the end of February already?

Here’s a quick roundup of what’s what in the world of marketing, media, and brand strategy:

• Death to buzzwords.  Finally!  Someone else is taking up the anti-buzzword buzzkill.
• Crocs CEO resigns, is replaced.  Not news to many who have been following the ups and downs of this early-stage success story.  My prediction:  Crocs will get worse — way worse — before it gets better.  It’s dealing with oversaturation, intense competition and knockoffs, and some sad brand stigma.
• LinkedIn is not Twitter. I repeat, LinkedIn is not Twitter.  [Via Deb Kolaras]
• Wait, what?  Pepsi is starting throwback branding in addition to its lame new branding?  Color me confused.

Anyone who’s talked to me in the last few months knows of my overwhelming disdain for the new Tropicana logo.  I must admit to feeling peevishly victorious when I learned that Pepsi has scrapped the new logo against overwhelming pressure from consumers, who felt (like me) that it betrayed the brand’s essential identity.

I was walking through the grocery store last night and thinking of my personal resistance to change…the remodeled store seems unfamiliar and alien.  It ties in with consumer reaction to the Tropicana logo, but it also raises an important question:  at what point do your clients own your brand?

Nobody knows whether the Tropicana rebrand was the result of a committee of marketing hacks or a frustrated CEO with a vision.  What I do know is that through years and years of marketing and exposure to Tropicana, I the consumer have developed a relationship with the brand to the extent where a new logo and identity felt like a betrayal of my trust and confidence.

It seems dramatic, but I believe that after a certain point the client or customer really does have an ownership stake in a good brand.  Sure, I’m not sitting on the board or determining pay cuts (and certainly I am not enamored with
Pepsi’ s own crappy logo), but in order to keep me shelling out the dough, you’re going to need to make me feel respected, heard, and part of your ongoing plans. Creating invested customers is a foundation of branding and smart marketing…let’s hope Pepsi and Tropicana learn from the smackdown and start to respect their customers’ intelligence.

What do you think?  At what point do clients develop a sense of ownership of your brand?

Boasting an undeniable wow factor and an awesome community, Boulder is a great place to do business.  Doing business just got a little better with the Boulder New Media Breakfast series generously hosted by Metzger Associates, one of the area’s premier PR firms.

Today’s inaugural breakfast featured LinkedIn impresario and the tremendously successful CEO of Integrated Alliances, Mike O’Neil.  Here’s a quick rundown of his top tips for making the most of LinkedIn:

The demographics. LinkedIn is “MySpace for grownups” and is one of the most powerful social media hubs on the Web.  The average user earns more than $100k annually and is 41 years of age.  36% of all LinkedIn users are decision-makers in their business.

The to-do list.  Anyone wanting to make the most of LinkedIn should start by fleshing out their profile to be a fabulous marketing document, then move on to increasing their network (bigger = better), utilizing searches to their benefit, communicating through messages and introductions, and leveraging LinkedIn for sales.

The numbers.  Mike recommends a profile with upward of 500 connections (he has a whopping 19,000!).  Why is bigger better?  Because you can generate more prospects, more inbound calls, more respect, and more social capital.  Smaller networks work better for execs.  Mike recommends that users join 20-30 groups and connect with the super-connected (known as “lions” or “toplinkers”).

The predictions.  Mike’s looking forward to the aggregation of today’s panoply of new media tools in a new browser or website form…in the meantime, he thinks Microsoft, IBM, or another big player will acquire LinkedIn soon.

The takeaway:  Build your social network while you’re employed.  It might seem like a big investment of time, but it pays to get it while the getting is good.

Where does the time go?  Our Google Analytics series will be back for the attack later this week…in the meantime, here are some marketing and branding-related links to whet your appetite:

• How on earth do you monitor social media?  Social Media Explorer shows you how.
• Some most excellent facts and figures on the effectiveness of different marketing channels…hint: e-mail wins [via AAF SmartBrief]
• Oldie but goodie on using Google Alerts to track information about your business
• They’re getting real about marketing messages at Women’s Wear Daily

Over the years, I have come to realize that a good massage isn’t a luxury…it’s a necessity.  Unfortunately, the pocketbook of a small business owner (especially in this climate) does not always agree.

Enter Mary Koziol, a Boulder-based masseuse who specializes in women’s massage.  She’s offering an economy-bashing half-price sale for all of her massages…only $30 for 60 minutes or $42.50 for 90 minutes throghout the rest of February and March.  What an opportunity to support a local entrepreneur and rub out the kinks and miseries of being a local entrepreneur…all at the same time!

Reach Mary at 720.934.5730 or email mkoziol04@gmail.com

Photo via apdk

Headed off to a client branding retreat…while I work, here are some great links to start your day:

• Was the Pepsi logo PDF real?
• Colorado is the 5th most creative state…and its creative economy is booming.
• A great glossary of advertising and new media terms (including some dreaded buzzwords) [via SmartBlog on Social Media]
• Wait, what?  Retail sales are up?

VOCO is privileged to be a sponsor of the Rockies Venture Club, one of the most interesting groups for entrepreneurs and venture capitalists in the area.  Last night I attended their (jam-packed) monthly meeting.  The theme was How To Give Wings To Your Fledgling Company:  Angel Investing In 2009, and the panelists — Kelly Burton, moderator, of Investment Avenue, Robert Fenwick-Smith of Aravaipa Ventures, and Rob Morrison of Coherent Investments, were on the ball.  Here’s a quick recap of the panel:

What’s the view for angel capital in 2009?  How has it changed from 2008?

Morrison:  We have lower risk tolerance.

Fenwick-Smith:  We can’t count on the money that’s been flowing around historically…angels are now focused on cash-flow positive businesses above all else.

What do you look for in a company before investing?

Fenwick-Smith:  I focus on near-term prospects in green technology.  Angel investors, unlike venture capitalists, can’t afford to play the numbers game.  We’re looking for companies that have a plan.  I find the obsession with exit to be formulaic — you have to think about how to create a business that pays dividends, not one that will be acquired.

Morrison:  As an angel, I’m motivated by the viability of a business and its team.  Is the entrepreneur bringing hard questions to me?  Do they understand and clearly state their own expectations?

What capital sources do you recommend?

Morrison: I like to see how far my dollar can be stretched.  Capital efficiency is key.  The support of friends and family is somewhat of a necessary endorsement in these times.  Support from a federal program such as Small Business Innovative Research grants can be key.

What makes entrepreneurs stand out during the due diligence process?

Fenwick-Smith: PowerPoints make no difference to me!  Polish doesn’t count…90% of the strength of a potential investment is in its people.  I’m looking for attitude, how they answer questions.  The figures are always wrong, but I accept that innate optimism and instead go with my gut.

Morrison: You have to remember that there’s no specific point in time where due diligence starts or ends.  It begins the second you meet for the first time.

Is Colorado still fundable?  Where does Colorado stand in the angel investment mix?

Morrison: The ecosystem for business still exists, but it’s harder to penetrate.

Fenwick-Smith: We’re in a climate right now that fuels startups.  Colorado is definitely a brighter spot for sustainability and organic products, and the big VCs come here often, which is a good sign.

Is there a hot industry or trend for investors?

Morrison: The hottest industry is the one in which you have the most passion or knowledge.  Still, I’m seeing growth in entitlement healthcare, military, and energy, especially with this new administration.

What are your recommendations for entrepreneurs?

Fenwick-Smith: Hunker down.  It’s gonna be a difficult year, no matter what stage you’re at.  It will take longer to receive your POs, and most businesses will either be affected by, or use, the recession, resulting in a slowdown.

Morrison: Go for partner wealth.  Look for money, look for help — and understand what it is you need.  Partner well and you’ll do well.

What’s the role of failure for entrepreneurs? Do you ever tell them to quit?

Morrison: It’s basically required. I’ve been in situations where plans have been reshaped to the extent that the founders want to quit.

Has the economy affected angel investors’ appetite for investment?

Fenwick-Smith: In my experience, it’s harder than ever before.  Why would I put money in an illiquid investment when today I could buy discounted or distressed real estate and turn it around?  It has to be the right project and right team, even more so today than ever before.

Morrison: The appetite for investment hasn’t changed, but the risk-to-revenue ratio has.  I’m now looking for profit versus exit.

Photo courtesy of Aunt Owwee

• My current obsession, Help A Reporter Out, is hosting a conference call on “How to Pitch a Reporter” that is promising to be a goldmine (and for just $50 it’s pretty much a steal).
• Here’s a quite comprehensive article on finding the tweet spot and using Twitter to your advantage.
• SmartBlog asks:  “Are you getting in the way of your customers?“
• Celebrity magazine circulation is down? Say it ain’t so!

In the crowded world of jewelry and crafting, differentiation is key.  It seems like jewelry designers are a dime a dozen…and let’s face it, there’s a lot of crap thrown in the mix.  Today’s favorite woman-owned business, however, manages to stand out from the crowd with some awesome branding and a real quality product.

EveAndOdd Designs is the brainchild of Olivia McPherson, a brassy, sassy scientist living in Cambridge, Mass.  She creates these clever earrings in her gorgeous studio and really puts some thought and intention into every pair of earrings.  I have four pairs of hers now, which are set to “heavy” in my earring rotation.  They’re the perfect weight, hang beautifully, and are a conversation piece wherever I go.

One thing I love about Olivia’s branding is her product descriptions.  She thinks long and hard about each piece, names it, and carefully photographs it.  The presentation when you get the piece in the mail is breathtaking, and the price is right…a nice splurge item that won’t break the bank in a teetering economy.

Welcome back!  In our first Google Analytics for technophobes, Web stalkers and small business owners, we reviewed how to set up this powerful program.

Now comes the hard part:  actually analyzing your results.  Of course, the longer your code has been around and in business (it is working, right?), the more results you’ll have to analyze.

Though the Google Analytics dashboard is full of exciting stuff, it can feel mighty overwhelming if you don’t know what the heck it is you’re looking at.  Here’s a whirlwind tour and glossary of the site and important terms:

Dashboard – this is the heart of the site and where you’ll find the most important information of all:  visits, pageviews, bounce rates, average time on site, and percentage of new visits.  Note:  the information portrayed on the dashboard is governed by the time perameters you set at the top of the page.  The longer the time you specify, the more visitors, etc. you should see.

• Visits and pageviews:  These are the nuts and bolts of GA.  A visit is essentially a session:  a period in which a user is visiting your website.  Google defines visit as ending when the site is navigated away from or the browser remains inactive for 30 minutes or more.  A pageview is one instance of a browser loading a page on your website.  Important note:  a visit is not a visitor.
• Bounce rate is the rate at which visitors left your site without clicking on any other pages.
• Average time on site:  No-brainer.  The average time  a visitor spends on your site.
• Percentage new visits:  The percentage of visits that were new (i.e. had never visited your site before).

Visitors – this is the section that allows you to analyze visitor behavior:  who they are, which browsers they use, where they are.  Google offers services such as benchmarking (comparing your statistics against others in your industry), trending information to help you find out more about your visitors, loyalty information, and information you can define yourself.

Traffic Sources – this section is the alpha and the omega when it comes to search engine optimization (SEO) and understanding more about how people find your site.  It includes subsections on direct traffic (traffic that comes to your site without being referred through another website), referring sites (sites that include links to your site that funnel in traffic), search engines, keywords, Google AdWords, and campaigns you can define yourself.

Content – this section focuses on the content of your site and can show your top content, top landing and exit pages, and even a nifty site overlay that shows who clicks where on your site.

Goals – in this section, you can set and track conversion goals for your site.

Your assignment:  familiarize yourself with the Google Analytics dashboard and interface. Click everything you can to get an idea of what it does.  Never fear…in our next sessions, we’ll talk about creating goals, analyzing traffic and user behavior, and more!