Social Media Marketing – Part II

Observations of the redoubtable Michael Hunter:

1.   Social Media is currently overhyped – checked blogs and articles from a year ago until today and tracked the delta – dialogue will dissipate some and then level off

2.   Social media is not going away – consolidation will take place over the next few years – winners and losers become evident – new social media environments created based on current knowledge curve

3.   Social media professionalizes – it will become the driver of much branding and marketing strategy because it’s at the front edge of the reaction/discussion and because tracking/predictive tools will become more robust

4.   Enterprise adoption wins out over project based applications over time in medium sized and large corporations – technology allows consolidation of information from multiple points of entry (customer touch points) – more and more positive ROI evidence – Compendian type products allow information to be acted upon quickly as market dynamics change

5.   Learning curve and enterprise integration give significant advantage to early adopters over the next 3 – 5 years

6.   Biggest current challenge – dedicated resources – with the exception of a few companies that “get it” – right now it’s a part time job – amatures vs professionals

Brian Patrick Cork

Filed under: Business, Change, Marketing, Strategy , Business, business trends, Change, Marketing, social media marketing, Strategy

Point: social media marketing

Michael Hunter shares the following article: Why It’s Time to Do Away with the Brand Manager with some additional notes.

Model under consideration: Social Gastronomy – www.socialgastronomy.com.

If this article is correct, and the momentum continues, it would indicate a full capitulation to social media marketing as not only an adjunct to traditional brand management and marketing but it’s ascendancy as the driver.  I think this will take less time than pundits think. This is extremely important to SG as the SG model clears the path to full enterprise adoption of social media integration.  (HWI’s Value Delivery Alignment Model.)

While B2C will lead this charge B2B will not be far behind, especially with companies whose primary customers are B2C (target marketing and segmentation).

Please also note the emphasis on number crunching and predictive analytics as a more important tool for “Brand Advocates”. I have been suggesting this for some time.

Driving social media into the “DNA” of companies and organizing around customers means full cross-functional adeptness at utilizing social media inputs in everything from spending decisions to process restructure.  People who now seem remote from the epicenter of social media marketing now must understand it’s implications especially in customer facing functions like “customer no service” and “sometimes available technical support”.  Even the billing department will have to recognize that they are part of the product because they are part of the customer experience and therefore will have to listen to the social media buzz.

Conclusion: SG’s enterprise positioning vs. social media project competitors becomes ever more differentiating.  Matt Rosenhaft’s conceptualization skills are genius, if we can further harden up the performance metrics SG will have no peer. SG University and Certification also become more prominent as the tool for driving understanding, adoption and action into non-marketing/branding functions of the business.

There are implications for Agencies as well.

By Formula13 | Atlanta, GA October 12, 2009 01:38:48 pm:

I think this is the “new normal” that companies are going to start following as they try to operate leaner. Big agencies could start feeling a bit of a pinch and the small to medium agencies will become more relevant to these big brands. Finding the best suited partner could become more difficult – similar to finding the right mix of pitchers for your bullpen.

This should provide some compelling evidence in converting opportunities currently in the SG pipeline.

Brian Patrick Cork

Filed under: Change, Marketing, Strategy , Business, Change, Marketing, social media marketing, Strategy

Marketing 101

When the chips are down many companies punt their Marketing people and/ or plan.  Oddly enough, Sales teams are at risk as well.

This is a reminder that the POINT of Marketing is to bring Buyers as close as possible to the Seller – or, the Customer to the Product.

Let’s be part of the solution, not the Problem.

Brian Patrick Cork

Filed under: Business, Marketing, Sales, Strategy, Success , Business, Marketing, Sales, Strategy, Success

Building a Winning Sales Culture

Tough times call for tough sales people and great sales leadership.

We all hear the foreboding comments regarding today’s business environment:

“Times are tough,” “we’re heading into a recession,” and “the economy is tightening” permeate our thoughts.

Never mind. 

Too often leadership responds with:

“we’re getting lean,” “cutting overhead,” “reducing expenses,” and “laying-off non-essential staff.”

Uninspired.

What happens after they have executed these extreme measures? 

I own and operate an Inc. 500 business; I have built and sold five companies for good multiples; and, I help other business people build management teams and successful companies. Based on this experience, I believe it is wise to conservatively spend and do not encourage recklessness under any circumstances. But I am also aware there are companies making their fortunes during these same “troubled” times.

What separates those who prosper from those who struggle? 

It’s no secret that a company with a strong, highly competitive, committed sales team will always find a way to achieve its bottom line financial goal – versus one with a sales force who believes the headlines, makes excuses and justifies a shortfall.

My analysis of most sales teams shows they adhere to the 20/60/20 rule.

Approximately 20 percent of the sales team is comprised of winners or high performers; 60 percent of variable performers; and, 20 percent of non-performers. Sales winners will predictably and consistently sell more products or services to prospects or existing clients. Variable performers and non-winners squander their best selling efforts on their business owner, to convince them they’re the “victims” of a faltering economy. 

The following are five of the ways sales winners approach selling in order to outperform the competition in today’s challenging business climate:

1.  Be a hunter, not a farmer. Take the time to critically evaluate your sense of urgency when it comes to prospecting. Sales winners spend 40 percent of their time farming their existing customers for more business and 60 percent of time hunting for new sources of business. The new equation for prospecting success is: Some will buy from you, some won’t, so what…next!

2.  Critically evaluate your beliefs. “As you believe, so you act.” If you believe everything you read in the newspaper and hear on the news, you will accept the stalls and put-offs of your prospects. Take time each day to clear the “head trash” that holds your success hostage. Prospects want you to believe that the sale hinges on the lowest price. In today’s economy, more than ever, your money beliefs are challenged. If you are a lowest price, think-it-over buyer in your personal life you will accept those put-offs from your prospects. Why? Because it makes total sense to you, and your sales goals go right out the window. 

3.  Purge your proposal management system once a week. Holding on to proposals that will never close gives you a false sense of security. Review your proposals on a weekly basis and ask this critical question: “What can I do to either move this proposal forward, or close it out because I was fooling myself into thinking there was something there?” 

4.  Understand that time is not your friend. The more time between initial sales call and proposal opportunity, the less chance you have of being considered. Develop a sense of urgency! Prospects have short memories and are more likely to buy from the last salesperson they see. Make sure that you are not creating a market for your competitors by taking too long to follow-up.

5.  Stop relying on your personality to get the job done. Today’s business environment requires more professionalism than ever before. The days of the slick, manipulative, “smarmy” sales type are over. Develop an organized sales process and use it every time you make a sales call. Be memorable for your process and professionalism, not your personality. 

To wit…

All salespeople must ask themselves:

“What am I capable of doing (sales aptitude) and what am I willing to do (sales commitment) in order to be successful?” 

Many salespeople have the aptitude or skills to be successful; however, it’s only the top 20 percent, the true sales winners, who have the unconditional commitment that it takes to triumph in this demanding business economy. 

Keep in mind that commitment is the willingness to perform the difficult sales behaviors regardless of your own personal beliefs. 

“Be part of the solution – not the problem”.

Brian Patrick Cork

Filed under: Articles By Brian Cork, Business, Coaching, Economy, Marketing, Sales, Strategy, Success , Leadership, Sales, Sales Culture, Success