Archive for March, 2009

I frequent many Yahoo! groups and bulletin boards frequented by writers and small business owners.  Lately, among the laments about the demise of newspapers and the perils of a shaky economy, I’ve been hearing an interesting war cry:  “Social media is a huge waste of time!!! It will distract you!!! Don’t listen to its siren song…it will destroy your marketing, your career…everything you’ve worked so hard to establish!”

I personally think that you can’t afford not to participate in some form of social media, especially in a world that’s ever more populated by Net-savvy, time-crunched people.  However, it’s a tool like anything else in your marketing arsenal…only worthwhile if you use it wisely.  Here are three ways to know when to rein in your social media use in favor of more traditional marketing means:

You are unable to manage your time.  Some people are able to resist the call of a blinking Tweetdeck and a buzzing iPhone.  Others, sadly, are not.  If you’re unable to manage the amount of time you spend using social media, consider limiting it to a certain amount of time per day (timed, with a timer) and pledging to spend an equal amount of time on the marketing messages you used before you converted to Twitter or Facebook.  Yes, this may involve picking up (gasp!) the phone.

You are undercutting your existing marketing.  If your many profiles are not customized and integrated in with your existing brand, you’re wasting your time.  Sure, you may be able to better interface with long-lost-childhood-friend X, but you’re spinning your wheels in terms of your marketing.  Don’t have time to brand your social media or give thought into how it might integrate with your existing marketing strategy?  Then don’t do it.

You are uninterested or undercommitted to the marketing you did before adopting SM.  Yes, social media is slick, instantaneous, pretty, and even inexpensive.  But if your social media activities have replaced the marketing you did before you logged on, be honest with yourself.  Have they really yielded the return on investment they should?  Have you abandoned sucky marketing in favor of micro-efforts that won’t ever pay off? If the answer is yes, it’s time to reassess.  Social media should be part of a marketing plan…not the entire plan.

Simply put, social media without strategy might just be a waste of time.  Interested in figuring out how to use it to your advantage without losing your mind?  We’re giving a seminar in Denver on April 20 that will help you with jus that.  Click here for more information on Social Media for Mere Mortals.

Photo courtesy of bogenfreund

Mondays have that spinny, reeling, to-do-list spitting out tasks kind of feeling, don’t they?  Luckily, VOCO has condensed today’s must-reads into a short and sweet list!

• PR is the new marketing:  A nice vlog on the intersections of two former cousins…now conjoined twins?  [via SmartBrief on Social Media]
• AdWeek has released its Magazine Hot List for ‘09.  What’s hot:  Fast Company and Wired.  What’s not:  anything that can’t (or won’t) adapt to changing times.
• Are we “exquisitely, irretrievably f*!ked“?  You be the judge.
• Say it ain’t so:  Google has a “paralyzing lack of design focus”?!

“In this economy” (the new way practically every statement made by a human in March 2009 begins), companies are scrambling in an attempt to determine the proper use of their marketing budget.  And it ain’t easy, especially if you’re a solopreneur, a small business owner, or any other variety of human with a pulse and a finite pocket.

But are you really in over your head?  Is it time to hand off your marketing, or can you keep doing it yourself?  It depends.  Here are five signs you’re ready to take the plunge:

You’re insane. My favorite definition of insanity?  Repeating the same actions over and over and expecting a different result.  If your marketing routine isn’t producing results, you may need an outside eye (or some outside assistance) to determine where to cut the fat and where to ramp up the effort.

You’re (over)reactive.  True marketing results come from consistent and measurable actions, not reactions to every trend, shiny object, financial flutter, or bump in the road.  If you have slipped into reaction mode, you may need a dose of reality and some externally-enforced priorities to help you rein your marketing efforts back in.

Zzzzzzzzzzzzzzzzzzzzzz.  If this is your reaction to the news that it’s time to market your business, you’re not alone.  Marketing (especially in a down economy) is not a cakewalk.  In fact, marketing can really, really suck.  However, if the slightest mention of a marketing task makes you want to crawl back into bed with your jammies and evade reality, you are likely in need of intervention and assistance.

You’re hurting. You know those growing pains you got when you were a kid and your muscles and bones were shooting upward and outward and all over the place?  They can (and do) wallop a business.  Transition points — going national, expanding your staff, changing your client base, raising your rates — are healthy, but they can place immense stress on your business, your budget, and your time management skills.  Shore up your resources and get help to bridge the gap and transition with ease.

You’re superhuman.  Wait, doesn’t that mean you can do your marketing yourself?  …Not necessarily.  If you take on too much, something will have to give.  Usually it’s those all-important routinized marketing tasks that fall to the bottom of the to-do list.  If you have trouble prioritizing marketing, it might be worth handing it off while you focus on saving the world.

Photo courtesy of gruntzooki

Yesterday I arose with the sun to attend a seminar on cash flow and budgeting presented by my esteemed business advisor, Trish Thomas of Akamai Consulting, and Connor Morganti of Johnson-Morganti, a financial planning and insurance company.

Though the topic is at best snooze-worthy and at worst panic-inducing, I came away with plenty of insight on how to make cash flow even when financial times are tough.  Here’s a selection of tips and advice from Trish and Connor.  If you like them, drop me a line or a comment and I’ll make sure to invite you to the next in the series…it’s totally free!

Take money in quickly and consistently.  This means invoicing promptly, collecting aggressively, and making sure to require deposits and down payments to spread the financial love.

Hang on to $ as long as possible…and spend wisely.  Trish told the story of a client who paid off a huge bill at the end of last year…only to have to lay off an employee this year due to lack of cash.

It takes a long time to build up financial credibility…and only an instant to tear it back down.  You owe it to your financial reputation to be proactive if times are tight.  Be the first to reach out with a credible plan.  It can save you with banks, lenders, and vendors.

Don’t run and hide from the word “budget.” It can seem pointless to budget with uncertain cash flow, but you need to create a system that puts expectations in place and allows you to measure performance and set goals.

You get out what you put in.  Work on abolishing the poverty-minded mindset and resist the temptation to play into the panic that characterizes this downturn.

Photo courtesy of garydenness

I always enjoy an evening with the members of the Rockies Venture Club, especially when there are investors speaking on panel.  Last night was no exception:  in a version of funding lightning-round, three companies seeking funding presented and were followed by notes and suggestions from three investors.

Lorenzo Carver, CEO of bpCentral’s Liquid Scenarios, was up first.  I loved his “aim small, miss small” philosophy for market share and his product, which provides deep analysis of financial information.  Frank Mendincino of Access Venture Partners had some great insights on Lorenzo’s presentation:

The three things he thinks about when considering a deal:  What problem is being solved?  How does the company in question solve it?  Why is their solution better than the other options?

Why companies need to break the rules and include a feature matrix comparing their companies against the competition:  Because it allows them to show why their company is better, not just state that it is.

Focus on conquering one market segment…then move on.  Keeping your initial segment small can allow you to have less initial competition and show your mastery more quickly.

Next up was Eric Remer, founder and CEO of PaySimple, a company that helps small businesses process payments.  He was able to sum up his business model (simplify and empower small business transactions) succinctly.  Jim Conboy of Wolf Ventures critiqued his presentation.

There’s nothing better than results.  Everyone talks about serving small businesses…it’s a very different thing to actually do so.

Your credibility is only as good as your communication.  Show how you nailed a particular market segment and whether you know when to cut your losses and move on.

Toot your own horn.  Your audience of investors will be skeptical.  It’s your job to win them over by pointing to your successes.

Keith Mountain of Spatial Corp. was last, but not least.  His story of a software company with a complicated past was a great view into the challenges that face a company seeking independence from a corporate entity (and the ups and downs any skilled management team will face).  Seth Levine of Foundry Group admitted he specializes in early-stage and seed investing, but was up for the challenge of critiquing Keith’s complex presentation:

Sometimes the cultural aspects of your firm are as important as monetary and management issues.  Still, focus on what makes your company unique.

Look forward, not backwards. Investors are interested in movement and momentum.

Highlight your competitors, even if it hurts.  Show their strengths and their weaknesses, then offset them with your company.

Look for what’s bright and shiny.  If it doesn’t belong to the exciting part of the story, don’t include it in your presentation.

Read more about the event at Rocky Radar.

Photo via eurleif

Last night Juli and I both had the pleasure of attending the kickoff of the Front Range Girl Geek Dinners.  I had heard about the Girl Geek Dinners before from various tech friends dispersed around the globe, and was pleased to see that Colorado was getting its act together in that respect.

I was not disappointed:  the room was packed, the women were fun and talented, and it was awesome to connect with other geeky women in a way more prolonged than that familiar nod of solidarity in a room full of 90% men that is common to local tech-type gatherings.

The estimable Deirdré Straughan of Sun Microsystems presented on “Social Media, the Enterprise, and You”.  My notes are below, along with a slideshow of her presentation.

I’m looking forward to getting more involved in this organization and meeting many more geeky girls!

• Social media is exploding: Sites that call for user-generated content (Twitter, Facebook, eBay, and the ilk) are the fastest-growing on the Web.
• Why do we care? Because social media helps us create serendipitous connections, collaborate with others, and engage the experts.
• Social media isn’t just fun…it’s the new résumé.  It’s more important than ever to drive awareness of yourself and why you’re wonderful…to develop your personal brand.  (You are signed up for VOCO’s free personal branding bootcamp, aren’t you?)
• Transparency is paramount if you’re going to be taken seriously. Sun is doing an amazing job of fostering conversations while remaining transparent, be it via wikis, self-policed blogs, or the dissemination of tons of user-produced content throughout the ether.
• Put a human face on your business. Twitter isn’t just a little chatterbox watercooler, it’s a way to build personal connections (however small and ephemeral) with other businesspeople.  You never know when it might pay off.

As we check in with colleagues and valued partners, we hear your concerns about the economy and the future of the world as we know it. Our take on the economic crisis? It’s an unparalleled opportunity for savvy business owners.

When you invest in developing and marketing your business, you don’t just flip the bird at plunging stock indices and growing panic…you continue to build the foundation for real growth and continued success. Would you stop construction on your half-built house right before rainy season just because roofing is expensive? We didn’t think so. String up your tarp, get your umbrellas out, and get ready to ride out the storm. We’ll be right there with you!

Here are our five favorite tips for weathering the economic crisis:

• Remain calm. Panic inside your business inevitably translates to your clients. Take a deep breath and look at the long term.
• Act with intention. In a down economy, it’s more important than ever to make good marketing decisions…decisions that are underpinned by a solid understanding of your goals, your market, and your resources.
• Stay connected. It can be tempting to hide under a rock until the economy gets better, but getting out there and fostering new friends and connections will help you feel more rooted and connect you to existing opportunities.
• Develop an investment mindset. Cost-minded businesses get hung up on individual actions and cower their way out of opportunity through a lack-based mindset. Investment-minded businesses know that every cent of money and every second of their precious time will yield results sooner or later.
• Remain calm. Hey, it’s worth repeating! If you’re in trouble, turn to your friends and trusted advisors…and remember, we’re just a quick e-mail or phone call away.

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This entry is part of VOCO Creative’s occasional series on using Google Analytics for marketing and branding.

So…you’ve set up Google Analytics and started learning more about the terms and concepts that make GA go.  Now it’s time to make actual use of the site with my five favorite Google Analytics tools.

• So-Cool Site Overlay:  This tool offers you an incredible amount of information on actual user behavior.  Located under the Content section, the Site Overlay tool shows you where clicks land on a page.  What a great way to find out that nobody cares about your “free widget discount” button or that your users are surprisingly curious about your portfolio.  Use the site overlay tool often and with a sense of strategy:  In order to take full advantage, you should be willing to change in response to the information it yields.
• Real Keyword Insight:  This is an SEO-oriented marketer’s best friend.  Located under the Traffic section, the Keywords tool shows you the searches people use to get to your site.  You may discover some strange surprises here…but you also may get extremely valuable information that allows you to tailor content to popular searches.  By optimizing to popular keywords, you ensure higher rankings across a variety of searches that reflect real user behavior, not wishful thinking.
• Fabulous Filters:  Sick of Ukranian spambots hitting your blog?  Want to see real results that don’t reflect your checking for comments 23523523235325 times a day?  Filters are your friend.  To install a filter, you’ll need to know the IP address of anyone you want to exclude from Google Analytics stats.  Create a filter by going to Analytics Settings>Filter Manager>Add New Filter, then follow the steps.  Here’s a Google guide to creating a filter if you need more help.
• Mindboggling Link Ninja Action: Ever wonder just how many people download your PDFs or podcasts?  Wonder no more with file tracking via Google Analytics.  By adding a tiny slice of code to your tags for links, you’ll be able to see download results among the slew of information Google Analytics serves up by default.
• Robotic Automated Traffic Emails:  Harness the power of Google Analytics and take advantage of their option to send scheduled e-mail reports.  Just go to the report you want to receive, click Email beneath its title, and edit the schedule settings.  Google will email to you when you want it in the format you like (currently, PDF, CSV, Excel, and XML are all represented).  This is a great way to make sure that traffic stays at the top of your radar.

Photo via kalandrakas