Posts Tagged ‘social media’

MarkeTech Announces Social Media Boot Camp

November 2, 2011

A self-guided tutorial that turns a B2B social networking
 newbie into an online publisher
and contributor in 10 easy steps.

LOS ANGELES — November 2, 2011 — Responding to B2B companies that are taking a Do-It-Yourself approach to online social networking, MarkeTech announced today its Social Media Boot Camp. This latest self-help tool in its business-development arsenal takes a social newbie through a proven 10-step process. The result is an online-networking savvy and socially responsive blogger, or a proficient contributor who can comment on others’ online postings. The program places emphasis on participation in discussion groups and chat rooms, where bootcampers gain experience in everything from learning to “listen,” to joining in social conversations.

This Social Media Boot Camp provides both advice and hands-on self-implementation TODO’s that enable participants to be effective online B2B communicators who develop the social skills to achieve business goals. Even though the Boot Camp is self-guided, MarkeTech personnel are available and hands on with each participant. “We don’t leave anyone stranded without a lifeline,” explains president Joan Naidish. “We check their progress, usually in real time. They find us monitoring their posts on discussion-group sites, for example. When they reach the blogging stage, we even make our blog site available for them to post as a guest.”

Downloading and going through the free Social Media Boot Camp is just the start. It leads to a comprehensive course in real-world Social Media Monetization. Nothing self-guided here,
(more…)

MarkeTech’s Blog Site Isn’t Just for Boot Camp Participants

November 1, 2011

“Just about anyone can post a guest blog on this site,” says MarkeTech.

I’ve posted a couple of guest blogs on this website in the past, but I never realized that MarkeTech’s perspective of who can post here was such an open-door policy. I spoke with Patrick Potega, the CSTO, and he told me some interesting things about the blog site.

First, MarkeTech has always had a liberal guest-blog perspective in making its blog pages available. The only parameters, it seems, are that guest bloggers must be in a B2B company which is in the wireless (or more broad telecommunications) industry.

After that, anyone who wants to post a guest blog should present the topic to MarkeTech. Potega was surprised that the “online guest blog” inquiry form that’s been available for over a year to anyone who wants to submit a guest blog isn’t more widely known. Here’s where to access the form.

As a blogger, I appreciate that the MarkeTech team reviews and edits all guest blogs before posting. You even get a
(more…)

Social Media Monetization…Everything New is Old Again

November 1, 2011

MarkeTech’s Social Media Monetizationprogram shows how
your B2B organization can successfully generate revenues
from social media programs.
The secret is nothing new!

Social Media is nothing new. Its market relations principles and practices have a success-based pedigree. The essentials of monetization were rooted in the high-tech marketing/PR disciplines of the mid-1980s. Regis McKenna Inc., the PR firm that virtually single-handed created Silicon Valley, proclaimed that Public Relations was dead. What replaced it was Market Relations (MR), replete with social networking, “the conversation,” and most all the programs and activities that define today’s Social Media. So, except for the sea change of the Internet as a communications medium, there’s little new about relationship marketing as it was originally created by RMI, where MarkeTech founder Joan Naidish was an RMI principal who pioneered many of the original Market Relations techniques.

MarkeTech’s Social Media Monetization program exploits and updates the market relations methodologies used to achieve the success stories of B2B networking and communications companies like AT&T, Motorola, Xircom, and Intel.

But that sea change of the World Wide Web did seriously impact relationship marketing. The business development strategies of high-tech businesses were upset, with attempts to monetize Web 1.0 being mistakenly based on information dissemination. Old-fashioned PR was used to plaster product and company information all over the web ecosphere, using primarily press releases and online articles. Ever since Web 2.0 with its social model came along, B2B companies
(more…)

Guerrilla Selling’s Mind Map Challenge Revisited

September 12, 2011

While Guerrilla Selling’s “Mind Map” focuses on one-on-one direct sales interactions, can its face-to-face principles of buyers’ “phases” and sellers’ “best approaches” be effective in today’s online social media environment?

My Theory
In a B2B online social environment, without the requisite buyer’s presence in a face-to-face or one-on-one situation, practicing mind-map-driven guerrilla selling isn’t practical. My theory is that a seller can use his/her “Seller’s Approaches” – I view these as “behavior” — as triggers that cause a favorable response in a buyer audience. This flip-flops the original Mind Map chart, which teaches that the buyer’s behavior triggers the sellers reactive behavioral approach. For reference, I have included a slightly-modified version of the original Mind Map here.

The theory’s flip-flop premise is based on an online B2B audience of prospective buyers in which there are individuals, each of whom is in a particular identified left/right brain phase. If a seller were to address that audience with messages about “Fair-Care-Share” for example, the “Principle Phase” individual buyers would be responsive.  

In application, one might theorize that the six “best approaches” (disregarding the “Amoral Phase”) could be implemented in a series of blogs, Tweets, or other social media channels. By doing so, a seller could build – over time – a dynamic online personality profile that would appeal to more than one of the Mind Map’s categories of prospective buyers.

A Theoretical Example
For example, blog #1 portrays the seller as factual and logical, then blog #2 demonstrates fair-care-share aspects of the seller, while in blog #3 the seller is relaxed and just tells her/his story, and yet another blog (#4) stresses the seller’s responsibility to community and the good works his/her company is doing. This chameleon-like seller behavior is acknowledged in Chapter 4 of Guerrilla Selling. In the “Guerrilla Challenge” section, it teaches that “You must…adapt to the needs of each prospect you meet.” And, “They [Guerrillas] can shift from Ego to Pleaser to Authority to Principle phases as the situation requires.”

It would seem that the cumulative effect of such a blogging strategy could, over time, attract the identified Mind Map audience segments (as B2B leadgen). Similar-minded individuals in those segments would find the seller a person with whom a relationship might be formed.

The original Mind Map was reactive, i.e., the buyer’s behavior (phase) caused the guerilla seller to respond. It required an interactive situation, with a face-to-face meeting, or one-on-one (phone call).Today’s Internet reality is that in the online social communities, clearly identifying a particular individual’s phase is difficult, if not impossible. The Web’s social media tools are not equipped to provide face-to-face or one-on-one interactions. Therefore, a potential solution would be for the seller to behave online in more than one particular Mind Map phase, so as to attract (pull mode) compatible sales prospects.

Next Steps
My theory has not been tested in my real B2B (technology) world. I would be interested in your inputs. If feedback indicators are positive, I’d be willing to develop an alpha feasibility-validation program.

The Mind Map (Revisited)

The Mind Map is a model of behavior and personality that divides our human minds’ functions into seven “personality phases.” Guerrilla sellers use the map to understand people (prospects and customers) they encounter and be equipped to adopt a strategy that enables a relationship. At any given time, a particular person can shift from one mind phase to another.

Here are the Mind Map phases, listed with the most primitive “amoral” phase at the bottom:

Source:  Guerrilla Selling: Unconventional Weapons & Tactics
for Increasing Your Sales. William Gallagher, Orvel Ray Wilson,
and Jay Conrad Levinson, 1992. (http://www.gmarketing.com/)

Is Social Media Really a Free Ride to ROI?

September 11, 2011

While the best things in life may be free, social media has a price tag.

Browsing through some survey data recently, I stumbled upon one which indicated that some 113 (15% of those surveyed) Chief Marketing Officers indicated that the cost of social media is basically FREE! This response was to MarketingSherpa’s question of “…how you perceive social media’s ability to produce an ROI at budget time.”

Wait!…What? Do these marketing professionals actually believe that the budgeted investment in social media is ZERO? That would mean that any ROI would yield a de facto 100% profit.

I had to admit, however, that a case could be made supporting the perception of social media costing virtually nothing. There are companies that apply the DIY (Do-It-Yourself) approach to many social media activities. You know, those businesses that do everything in-house. A VP writes the blogs, an engineer or two Tweet, someone else is responsible for content on Facebook, and the sales guys plunder LinkedIn looking for leads. It’s all DIY. But, does that really mean it’s free? It sure would look that way in a budget, because salaries are an operational line item, and not indicated in the marketing budget.

My common sense and experience tells me that social media is time-intensive. Activities that consume significant personnel time should produce financial outcomes that are favorable to the company’s bottom line, either directly or indirectly. Is a VP’s time invested in blogging going to yield an ROI?

ROI at Budget Time
It was MarketingSherpa’s connection to ROI that bothered me the most. How can one realistically answer a question about ROI at budget time when the cost of leadgen is ZERO? The company budget may treat salaries one way, but can we ignore the real company money these DIY social media participants are spending when they use time on the job for blogging, tweeting, and the like?

Some businesses, mine included, do calculate “personnel ROI.” The IRR (Internal Rate of Return) on a reallocation of a current employee’s tasks has implications on the company’s bottom line. I actually have “target” income values that express how any employee’s time utilization should translate into productivity. That productivity is defined as revenue, so it’s “Revenue on Employee (ROE).”

My Hokey Hypothetical Model
Using an ROE approach, I constructed a rather hokey hypothetical model that shows company earnings as an outcome of the time an employee might spend doing social media activities. The following figures are annualized.  

The revenue value of each conversion is based on landing one customer out of each batch of 10 sales leads. The average revenue-per-conversion is $50,000.

This hypothetical employee would spend +/- 7 hours/week (about 20%) on social media pursuits. Thus for a salary-driven budget of $30,000 for 333 work-hours/year, the projected social media revenues are $100,000 for this employee. Personnel time utilization should be budgeted and clearly spelled out. So, it’s always time-is-money, and social media time invested does have a calculable ROI.

There’s also an ancillary issue of personnel time utilization, especially for employees who become addicted to Twitter, Facebook, et al. Productivity of other tasks can erode, perhaps enough to even threaten those other tasks’ ability to generate revenue.

While employees engaged in DIY in-house social media campaigns may believe that everything is free, business owners have a solid case for believing otherwise.

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One Editor’s Snooze Is Another’s News

March 10, 2010

By Patrick Potega (CSTO at MarkeTech)

It used to work fine. As far back as 1906, when the first press release was sent along a telegraph wire from a train wreck site to the editorial offices of an East Coast newspaper, communicating with editors was a piece of cake. By the mid-1980’s, the communications infrastructure was a bird’s nest, and the population of editors/journalists was overwhelming…to the point that Regis McKenna declared PR dead. That freaked me out, because I had just launched Video Games Magazine. Fortunately then, as now, no one believed Regis “Himself.” As the editor/publisher, I kept doing the same thing I had been doing every day during my previous decade as a technology-pub editor. Daily, I sorted through press releases, deciding what information my readership should (or shouldn’t) receive.  

In today’s over-connected public relations environment, anyone can self-publish, either as a contributor, or even an e-zine publisher. Online media can structure its content as news only, blogs+news, or even blogs only…and everything in between. I’m glad that I’m not on the publication side anymore. First, I’d be constantly pacing the floor trying to decide who were those people that I could legitimately identify as my “readership.” If I could figure that out with enough specificity, I’d then be getting brain cramps trying to judge what my audience considered news. Being an editor or publisher today must be tough, because many good periodicals and papers have folded. Maybe too many bad calls about what a most amorphous audience wanted to read. (more…)


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