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Archive for April, 2009

The Top CMOs And Social Media Marketing On Twitter

April 30, 2009 2 comments

the-big-cheeseWhat a great way to learn about social media marketing than by following the best of the best. The top Chief Marketing Officers on Twitter today, are listed below.

5,000+ Followers:

#1: Barry Judge
Chief Marketing Officer at Best Buy
www.Twitter.com/BestBuyCMO

#2: Scott Hoffman
Chief Marketing Officer at Lotame
www.Twitter.com/Lotame

3,000+ Followers:

#3: Jeffrey Hayzlett
Chief Marketing Officer at Kodak
www.Twitter.com/JeffreyHayzlett

#4: Kent Huffman
Chief Marketing Officer at BearCom Wireless
www.Twitter.com/KentHuffman

social-media-cartoon212,000+ Followers:

#5: Joanna Lord
Chief Marketing Officer at The Online Beat
www.Twitter.com/JoannaLord

#6: Sam Decker
Chief Marketing Officer at Bazaarvoice
www.Twitter.com/SamDecker

#7: Jacob Morgan
Chief Marketing Officer at HiRank
www.Twitter.com/JacobM

#8: Nigel Dessau
Chief Marketing Officer at AMD
www.Twitter.com/NigelDessau

#9: Brett Greene
Chief Marketing Officer at Oxstein Design Labs
www.Twitter.com/BrettGreene

#10: Marian Salzman
Chief Marketing Officer at Porter Novelli
www.Twitter.com/MarianSalzman

#11: Sam Mallikarjunan
Chief Marketing Officer at American Health
www.Twitter.com/Mallikarjunan

twitter-cartoon#12: Sonny Ganguly
Chief Marketing Officer at WeddingWire
www.Twitter.com/SonnyG

1,000+ Followers:

#13: Tom O’Brien
Chief Marketing Officer at MotiveQuest
www.Twitter.com/TomOB

#14: Matt Browne
Chief Marketing Officer at MoreFocus
www.Twitter.com/SDMatt

#15: Marc Poirier
Chief Marketing Officer at Acquisio
www.Twitter.com/MarcPoirier

#16: Meg Smith
Chief Marketing Officer at American Booksellers Association
www.Twitter.com/IndieBoundMeg

Customer Service and the Ripple Effect in a Franchise Organization

April 29, 2009 5 comments

Here’s a story that was told to me a couple of months ago. I posted it on one of my other blogs, 21st Century Franchise Coach, but recently thought about how such an experience ultimately affects the franchise brand. So, franchisors, and anyone else that wants to chime in, when you’re reading this article, please keep the following questions in mind:

really-bad-customer-serviceHow would you handle this situation if you became aware of it through a customer complaint?
If asked by a franchisee, about what to do in a situation like this, or how to avoid it completely, how would you respond?
Are situations like this, covered in initial and ongoing franchisee training?
Ultimately, if similar situations are repeated, how could it affect the franchisors’ bottom line?
Do we, as a franchise organization, go the extra mile in working and communicating with our franchisees, who are basically the organization’s customers?

One Lost Customer Could Cost Thousands

I immediately thought about a question that was posted on a social network discussion board about what companies were prepared to do in order to retain customers during the current economic crisis.

Late one morning, a client of mine was told by his boss to purchase gift cards to be given as prizes for that afternoon’s golf tournament. The company had decided to increase the number of prizes as the response to participate by local businesses was overwhelming. The tournament was to start at 12:30PM and my client was playing in the event and had several of his clients playing with him. Therefore, it was imperative he make it to the golf course by noon at the latest.

At 10:35AM he went to a national chain restaurant and found it closed but saw alot of activity inside by the front desk. He knocked on the door and explained his desire to purchase $1000 in gift cards. He was rudely told the restaurant didn’t open until 11:00AM. My client explained his circumstances and the need to get across town to the golf course and not having to wait 25 minutes would really help him. He asked to speak with a manager. He was emphatically told no.

Instead of waiting, my client went across the street to another national restaurant chain location and found it didn’t open until 11AM as well. However, as he was looking in, a cook noticed him and opened the door. The cook cleaned his hands and helped one of the girls in the restaurant dig out enough gift cards to make up the desired amount and complete the transaction.

Okay. Here’s a few things to consider. My client frequently takes clients out for lunch. Do you think he’ll frequent the first restaurant in the future? The gift cards were given to ten participants at the golf tournament. Do you think they may spend above the gift card amount when they redeem the cards? And, is there a possibility their experience at the restaurant may be their first to the restaurant and if they enjoy the experience, they may return? How many people will my client tell about his bad experience at the first restaurant and how many people will he tell about the second one?

By not acting “outside the box”, how much revenue will the first restaurant potentially lose over the course of a year? Thousands?

Startups: Do We Really Need Them?

April 27, 2009 4 comments

bonsai-treeI recently responded to a group discussion on LinkedIn where an MBA student asked the question, “Do we need startups?” This student went on to add, ” I just read Digital Darwinism by Evan Schwartz and it led me to wonder, with so many startups I hear about each day, How many actually serve a purpose? How many actually provide a non redundant solution to a problem?” After considerable thought, I responded accordingly…

Interesting thought. “Recycled” businesses instead of closed businesses. If you can’t make it, give someone else a shot. Diversification would be a necessity. Successful business may be worth more.

On the other side of the coin, startups brought us Bill Gates, Steve Jobs, Walt Disney, Henry Ford just to name a few. Would they have been as innovative working for a company as opposed to blazing the trails themselves? What would the world have missed without them? Would tomorrow’s Gates, Jobs, Disneys and Fords be left to work “within the box” as opposed to “outside the box?”

I have not even begun to think about the rise of even more powerful companies resulting in massive monopolies. In the end, would we wind up with just a small handful of enormous conglomerates owning and operating every industry? Or, could we end up with only one all powerful entity controlling all industries, and the world?

No startups? I think not! But still an interesting thought to say the least.

So, back to answering your question – I believe they all serve a purpose in lending to innovation and creativity that are vital to our future. Vital to democracy. Vital to free enterprise. Vital to helping third world countries. Vital to making the world a better place for today and tomorrow.

Redundant solutions? Without startups clicking at their heals, would companies continue to improve on solutions they’ve developed or just stop as they developed the solutions and then just sit back and rake in the profits. Afterall, why continue spending millions in improving on your solutions if no one else is working on a more effective solution. In simple terms, if we’ve created a trap that will catch mice, do we really need a better mousetrap? Maybe not from the practical sense. But what if we could catch a mouse a different way and it’s more cost effective? Or, maybe it has less health risks. Or more humane?

Social Networking and Business Growth: A Winning Combination

April 27, 2009 6 comments

Social Networking is the perfect answer to growing your business, economic downturn or not.

networking-photosOver time, personal interaction within a social networking environment creates trust. In turn, it develops relationships, shares information, provides two-way communications, and provides points of reference for follow up. It creates a multi-tiered platform of information that benefits both business development and customer generation efforts alike. Often, simultaneously.

How are you using social networking (and Web 2.0 tools) to grow your business? Are you using LinkedIn, Facebook and Twitter to full benefit? Need some questions answered? Post them below and we’ll be sure to answer them. If we don’t have the answers you need, we’ll get them for you as soon as possible.

95% Will Maintain or Increase Social Media Spending

April 26, 2009 2 comments

The following article about Social Media spending was originally posted on the Forrester Research website. We’re sharing this article because we feel it’s an excellent follow up to our last article about social media marketing. All trends are pointing towards significant increases in social media spending.

Recession resistant: 95% of social media marketers will maintain or increase social media spending
originally posted by Josh Bernoff

Last year, we surveyed interactive marketers and found a strong desire to continue investing in social applications, even with a recession looming. Now the recession is here. What are they saying now?

Based on a more recent survey from December of 2008, they still will maintain or increase their social media investments. The full statistics are in a new report by my colleague Jeremiah Owyang called “Social Media Playtime Is Over.” Remember, in late ’08 the recession was nearly as gloomy as how it looks now. And yet:

forrester-research-report11. More than half of interactive marketers plan increases in their social technology spending. (These stats are from 114 marketers currently using social media, out of the 145 interactive marketers we surveyed.) Only 5% plan decreases. Go ahead, name another marketing investment that’s anywhere near this strong in recessionary times.

2. The most rapidly growing categories are social networking, blogging, and user-generated content.

3. Remember that the base of this growth is small. While the marketers in this sample all come from companies with at least 250 people, three quarters of them are still spending $100,000 or less on these social technology projects. This is a drop in the bucket compared to other marketing expenditures.

This has reinforced what I’m hearing out there anecdotally, which is an awful lot of marketers asking for (and paying for) advice on this topic.

What’s driving this? As the executive summary of the report says:

These inexpensive tools can quickly get marketing messages out through interactive discussion and rapid word of mouth, and properly managed, can deliver measurable results.

The report includes recommendations for marketers. Here are some for my blog readers:

•If you are a marketer interested in social media, use these stats to get a realistic budget, then concentrate on measuring the results of your efforts to prove they work. Don’t dabble; dabblers will see their budgets cut. Social media playtime is over.

•If you are a consultant or recently laid off person, yes, this is a growth area. But it is one in which there are already an awful lot of experts. To become successful, concentrate on developing expertise in implementation, management, moderation, or measurement of social media efforts; that’s where the need appears to be, from the companies I speak with. In other words, social media playtime is over.

•If you are a technology vendor, case studies with proof of value will be far more effective than features, functions, and technology claims. If you can offer a consultative sale and handholding service, you’ll be a lot more likely to win clients and thrive in this space. Say it with me, now. Social media playtime is over.

Got it? What do you think? Is the recession halting social media efforts at your company, or encouraging them?

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