Getting the most from Facebook, Twitter and other onlines social networking sites

So you've decided to find out what all the fuss is about and get yourself a Twitter or Facebook account for you business. Now what? What can you expect? How do you make the most of it?

When the internet first became wildly popular, way back around 1998, many were under the impression that all you had to do is post a website and suddenly you'd have an audience of millions. Posting a new website inspired the kind of excitement expressed by Steve Martin's character in The Jerk, when he first got listed in the phone book. As it turned out, of course, a website is a nice addition to your communication tool box, but not a total marketing solution. Online social networks are the same. The value you get from them depends on how you use them.

Your online social network sites can help you reach and stay in touch with more people, but don't expect all of your "followers" to hang on your every word, or even read every post. They're likely following hundreds of other people as well. Don't use your online networks to replace your face to face contacts. They can compliment your other forms of communication, but a handshake is still worth a thousand "tweets".

If you have a business based Facebook or Twitter account, keep it focused on the business. If I'm "following" Bob's Hardware store, I'm looking for updates regarding Bob's Hardware store. I'm not interested in how Bob's cat is doing. Save that for your personal page.

Value quality contacts over quantity of contacts. Networking as a science is still in its infancy. There is a popular formula that puts the value of a network at the square of it's number of members. This is not accurate. Bill Gates recently quit Facebook because he was overwhelmed with "friend" requests and updates. You can only process so much information in a given period of time. Do your best to ensure you're getting valuable input. Connect with people who are really interested in what you're trying to communicate.

Don't "over-tweet". I have dropped several people that I had been following on Twitter because they felt compelled to send an update 5, 6, 10 times a day, or more. When I check my Twitter or Facebook page, I want to be able to scroll down a page or so and see messages from a variety of people. If you're taking up half my page, you've gotta go. If you really have that much critical information to put out every day, perhaps you should hold a press conference. Limiting yourself to 1 or 2 short messages a day will also help ensure that you're making quality, meaningful posts, and your "followers" will be more likely to continue to read them.

Don't fall for services that claim to "get you lots of followers". First of all, randomly collecting meaningless followers will only fill your network with clutter and actually reduce its value. Second, these services require you to follow others who have also signed up for their scam and they broadcast spam through your account, further diminishing its value.

Promote your network partners. I've never been a fan of networks that require you to promote your fellow members. I have no desire to be a 24/7 salesman, but when the opportunity presents itself, I try to recognize it and get in a plug for friend when I can. Making quality referrals as opposed to large quantities of referrals maintains your credibility and makes your referrals more effective. If you're trying to think of a good "tweet" for today, consider simply mentioning that you worked on a project with "Gino's Jewelry Repair" today. Gino gets a little exposure and your followers get a little insight into what you do and the type and variety of businesses you work with.

While others may disagree, I don't see online social networking accounts as a great mass marketing tool (although paid ads on the site can be a great value, but that's another story.) I see them as a great tool for expanding and maintaining a personal, wide-spread and powerful network of contacts. It allows you to communicate directly and regularly with individuals from across the street and across the planet. It's a better tool for sharing ideas than for making sales.

Blirp-vertising?

A Breckenridge, Colorado Company has come up with a kind of co-op, opt-in email service for local markets.

Blirp allows local businesses to register for a free basic package that enables them to send "unadvertised" special offers to their local subscribers. Blirp sends an email message to the subscriber with some random offers from local businesses, along with a link to the complete list of local offers.

Subscribers can choose to receive emails daily or weekly.

How is this different from Twitter? It's zip code targeted and subscribed to by people looking specifically for offers from local businesses.

The model has potential. I could see the host company (in this case Blirp), offering premium services, covering multiple and more targeted lists, as well as things like tracking services and access to data they develop as a consequence of offering the service.

The tricky part is creating demand on the part of the consumer. If someone is going to use something on a regular basis, they have to derive real value from it. A big part of the success of this experiment will be the quality of the offers and the merchants making them.

Could 2d barcodes bring new life to print media?

Quick Response (QR) or 2d barcodes have been big in Japan for years. They look like random ink blots but are actually symbols for encoded text and they just might bring print media into the 21st century.

The code generation software is available free from many sites on the web, as is reader software. When you use your cell phone's camera to "snap" one of these codes it can take you to a website or display text messages. So far this technology has been vastly underused in this country.

What this has the potential to enable is hard copy text with hyperlinks. If you've got a web enabled cell phone, you can be reading a paper, magazine, catalog or any printed material and point and click your way to more information, related sites, updates or even purchase a product. Advertisers could place them within their print ads, postcards, brochures, etc.. You could put one on the back of your business card that could take people directly to your website or blog. You could put one on a concert or event poster to give people access to immediate online ticket purchase. Newspapers could drive traffic to their websites for the latest continuous updates on stories.

Unlike links on a webpage, 2D links are always there, always on. You don't turn off a poster when you leave the room, and you don't have to navigate to it when you come back. They could even be placed on buildings and landmarks to link to information about them and the businesses within them. Imagine a reader embedded in a car windshield that could be used to read a code from a sign on the side of the road and display a roadmap centered on your location. That site could further link to area business directories and other locally relevant information (for the passenger to read of course). The technology is already here and it's inexpensive. We just haven't made widespread use of it to date.

It's not rocket science. It's a fairly simple solution to a nagging inconvenience; having to type in a search term or URL on a tiny little keypad. It doesn't require any transmission other than the light rays that bounce off from everything, all the time. It can be deployed as fast as you can print and post.

Cell phones alone were not enough to make anywhere/anytime internet surfing as effortless as it needs to be for widespread acceptance. These little inkblots combine the permanence and convenience of hard copy with the fluidity and utility of the web. The print industry may well be revived by enhancing the medium many thought would destroy it.

For free qr code generation visit: http://www.beqrious.com

For links to free QR code reader software: http://www.google.com/search?hl=en&q=qr+reader&aq=f&oq=&aqi=g10

Six degrees, It's not just for Kevin Bacon anymore

I've been doing a lot of reading and thinking about networking, both in the IT sense and the social/business sense. There have been many studies performed that actually seem to confirm that nearly every person on the planet can be linked to every other person on the planet with six or seven connections between people each know personally (a friend of a friend of a friend....).

The emerging science of networks has also discovered that a similar pattern exists in randomly generated networks like the internet and the power grid. They feature clusters or groups that share information with each other on a regular basis, connected to other clusters through randomly generated, but critical connections. Clusters with unusually large numbers of connections to other clusters serve as hubs. A system with millions of clusters can enable a connection between any two through a small number of hubs. Direct connections between hubs make the trip much shorter.

Another pattern that has emerged is that most people have about 5 or fewer really close relationships (strong connections) with other individuals. Before you start thinking about your 527 "friends" on Facebook, consider only those people with whom you engage in direct two way conversation on a daily basis. Now eliminate those you converse with because it's part of your job. Consider only those you contact daily simply because you want to. I'm guessing the number is quite a bit smaller than 527. If I had to take another guess (and I do), I'd wager that the number is not coincidence, but a natural optimization.

What are the take-aways for business networking. First and foremost, always keep in mind that every person you interact with is likely just 6 handshakes away from the most important person in your universe (besides yourself). You don't know who they talk to or who the people they talk to talk to. Make sure, to the greatest extent possible, that the encounter is something that will be relayed in a good light. In other words, do the right thing, every time. There are no insignificant people.

Another possible take-away is that if my hypothesis is correct, that an element within a network can most efficiently deal with a limited number of strong connections, make the most of them. If your most frequent contacts are all in the same field, your only connecting to one cluster. You may want to consider making time for developing other relationships in more tangential fields. For example, most mortgage brokers like to make connections with realtors. This makes good sense. The fields are very closely related. But what if our mortgage broker somehow established a strong working relationship with a grocer? Grocers come in contact with a wide variety of people every day. What kind of cooperative marketing opportunities might arise? How many more people might be reached? What if you established some sort of working relationship with the manager of the Safeway in the neighborhood in which you'd like do more business. Odds are, the staff at the local Safeway are among the most familiar people to those who reside in the area.

Although the number of strong connections in our business and personal lives may be fairly small, we also have a great deal of lesser connections; acquaintances, business associates, suppliers, clients, customers, neighbors, etc. During the infrequent and possibly very brief periods that you come in contact with any one of these individuals, it would behoove you to really listen to what they are saying. The more you know about someone, the more you know about who they might know. I'm not suggesting invading anyone's privacy, but if information is being offered, be receptive and attentive.

Establishing a good working network is about more than receiving information though. You make good connections, in part, by being a good connection. Be alert for opportunities to put people in touch with others who can help them, or who may be willing and able to work with them for their mutual benefit. Even if you are not directly involved in the ensuing transaction, you have proven yourself a valuable link to both parties and that has value in and of itself. If you establish and maintain yourself as a sought after hub, you don't have to ask for favors, they'll come looking for you. It's how we reinforce connections.

Of course, all these connections aren't worth very much unless you have the ability and confidence to communicate with them effectively and efficiently. Communication with people you don't know very well can be awkward and intimidating. There's no magic bullet for getting over this apprehension. The only thing for it is practice. Engage, evaluate, adjust, repeat. Ultimately, you don't become proficient at networking by attending seminars, reading books, watching videos, or even from great blogs. You learn by doing.

Making time for new connections may mean taking time away from others. But, as the most successful CEO's know, you don't have to know everyone or everything, you just have to know who knows who and develop the ability and the wisdom to recognize, nurture and make the most of your network.

Lessons from Billy Mays

Billy Mays was a television presence one couldn't ignore. His booming voice is quite memorable to say the least. But I think the most valuable take-away from the example set by Bill Mays is "keep the focus on value".

Mays and company didn't just go out and sell every goofy idea that came across the table. They took the time to test the product and test the market. If you've ever seen his show "Pitchmen", you've seen it in action.

The goal was to find products that solve an every day problem at a price people were willing to pay for the solution. The meticulous attention to results and focus groups was not an altruistic endeavor. It protected Mays' reputation as well as protecting both the inventor and the public.

No matter how good a presentation you're capable of, you can't do high profile sales of worthless crap and maintain a lucrative career. Eventually the trust factor catches up to you. Mays understood this. He knew his reputation was his most valuable asset and he protected it accordingly.

You don't do an inventor any favors by convincing him or her to invest thousands of dollars and man hours into a product promotion that's not going to fly. By weeding out those with little chance of success, consumers are not subjected to disappointing products and investors don't waste their own resources on something that's not quite ready. Better to go back to the drawing board and try again.

It's clear that Billy Mays did not unconsciously let us in on these insights. The "Pitchmen" show unveiled the entire process for the world to see. He could have chosen to withhold his experience and wisdom as kind of a barrier to entry for newcomers. Instead, we saw the successes and the failures, and more importantly, the thought process that went into whether or not to proceed with a particular promotion. Billy Mays died to soon, but he did so with his integrity intact.

Discovery Channel's "Pitchmen"

Applied Irrationality

The first in a series of articles examining the marketing aspect of insights presented by Dan Ariely in his book "Predictably Irrational"

Give them something to not choose.

Dan Ariely's research, expressed in his book "Predictably Irrational", reveals some very interesting tendencies in how people, in general, value things.

One is that, given three choices, people will be more likely to choose the middle option.

Another is that in a group of three objects or images, people are more likely to pick one that is similar to, but better than one of the others. For example, if you had three hammers, two red and one blue, one red hammer has a cheap looking handle, the blue and other red hammer have nice looking, comfort grip handles. You can expect the red, nice handled hammer to be the best seller of the three, all else being equal.

We are also vulnerable to the power of suggestion. Baselines can be set for us. For example, you are in a restaurant where the steak costs $45. You may opt for the hamburger, but you see the $14 price tag as a bargain.

So what's the marketing take-away?

Giving people choices is not just good for them, it's good for you. Having more than one variation of an item gives the consumer something upon which to base a comparison.

Without such a basis they might be more comfortable not making a choice at all, since you gave them an ultimatum "it's this hammer or no hammer". You may sell very few low end hammers, but if they increase sales of higher end hammers just by their presence, it's worth the shelf space.

The same dynamic is true on the higher end. Having a high priced, top of the line choice may not result in lots of high end sales, but it just might increase the mid-priced sales.

You have to consider each section of your product or service mix to be an integrated display. Look at total sales at least as closely as individual item sales. To what extent are the products that aren't selling driving sales of those that are? Removing a particular product due to slow turnover may end up costing you sales.

Making the most of it:

It's important to recognize that market behavior is what it is. It's not what you think it is. It's not what you think it should be. It's not about what you think you would do in a given situation. The stats don't lie. Behavioral trends change with the market place. The more people are wary of a particular quirk, the less it expresses itself. What works today may not work so well in 5 years. That's what continuing research is for and that's what keeps it fun.

For more insights into the irrational, visit www.predictablyirrational.com

Marketing Strategy - Slow and Steady or Fast and Furious?

Should you be looking for an instant return on your advertising dollars or a gradual building of awareness and customer base over the long term? The answer depends on your budget, your customers, your product mix, your goals and the nature of your business. You don't necessarily have to engage in one style or the other. Both have their time and place.

I think most business owners, especially rookies, look for the instant return. This can be achieved, but it's not as easy as simply placing an ad. For the "fast and furious" campaign you have to go big and you have to go wide. You want to get your ad in front of a lot of people and if you're going to spend the money on distribution, it only makes sense to take the time to make the piece itself attractive and effective. It also takes research, trial and error. You have to test different approaches, keep meticulous stats and see what generates the best return. This type of marketing requires both time and cash. You have to do your homework and you have to be able to afford to be wrong from time to time. You will try very expensive things that wont work, and an approach that works this month, may not work six months from now. That's part of the challenge, and the fun. The "fast and furious" approach is appropriate if you have the cash flow and the desire to put in the time to do the research and track the results. It also makes sense if you are in a commodity type business. That is, when your product or service really isn't that different from your competitors. For example, if you're selling cow manure. You might claim that you can differentiate yourself based on service, but let's face it, service after the sale is not a big factor in cow manure purchasing decisions. Clever, flashy, frequent advertising could be.

The slow and steady approach is mainly a matter of making and keeping people aware of your existence. This could entail regular advertising on a smaller scale. It could be as simple as putting your logo on an event poster, sending out a quarterly newsletter, occasional door hanging, putting labels on your products or packaging or other local and regional, relatively inexpensive advertising. This type of advertising can add leverage to word of mouth and it can be cumulative. When a customer recommends you or your company to a friend or associate it will carry much more weight if that friend or associate has heard of you before. Also, if someone sees your business card on a bulletin board, it will have more impact if they've seen your logo or company name somewhere before. It doesn't even matter if they remember where they've seen it. One downside is that the "slow and steady" approach is much more difficult to track. Someone may decide to give you a try after seeing your ads in 6 different venues on 10 different occasions. Which one pushed them over the edge? It's also important to remember that the "slow and steady" approach must be accompanied by quality product and service. If you want to enhance word of mouth, it better be good word of mouth.

Both approaches can be employed by the same business. You might want to do a big campaign a couple of times or even once a year and "awareness" advertising the rest of the time. If you're in a highly competitive field, like real estate or insurance, you have to do bit a both. You want to stay in touch with your current and past clients while constantly looking for new ones. Just bear in mind that if you're going to go for the "big score" you don't want to bet the farm on it. Every campaign, large or small, will generate some awareness, but you don't want to put yourself in a position where the success or failure of a single campaign will make or break you.

Effective marketing is a combination of strategy, imagination and execution. The execution applies not only to the advertising campaign, but to delivering on the promise. The marketplace is fluid, so you have to be nimble and attentive. Know your goals. Know your budget. Know your product Know your customers. Expect to make mistakes and be prepared to learn from them.