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How I Write and How I Decide What To Write

People seem fascinated with routines – how other people get things done and the like. While you do need to develop your own way of getting it all done, it can be inspiring and reassuring to hear how others are doing it. (Yesterday I wrote – 7 Things I Did Not Know About Writing Before I Started)

How I decide what to write about

photo credit: Sven Van Echelpoel via photopin cc

photo credit: Sven Van Echelpoel via photopin cc

I have a pretty solid editorial calendar that runs out about a year in terms of monthly focus themes so my blog posts, podcasts and guest content is lined up to match my annual plan. For example, this month’s theme is writing. I also write a lot of content for needs beyond my blog – presentations, eBooks and webinars often show up in outline form on my blog. (Here’s a description of this Total Content System approach)

How I write

I’m an outliner. I come up with the primary point I want to make from the blog post and then I outline the supporting points, elements and resources that I need to add to fill it out. I find that this approach allows me to stay focused and write very quickly. I write an opening statement, add 3-5 subheads, fill in each and wrap it up with a restatement of the original point.

Then I add lots of links, tips, tools and additional reading to make it as useful as possible. The last thing I add is the headline. I use SEO plugin to create URL, title, and description but the headline is there to grab attention in places like Twitter and RSS readers.

I asked Seth Godin, Mitch Joel, Ann Handley, Mark Schaefer, CC Chapman, Ian Cleary and Brian Solis two questions related to today’s post and I’ve included their thoughts here to give you even more insight into the practices of others who write.

My questions:
1) Describe your blog editorial process: how you decide what to write about
2) Describe your blog writing process: how you attack the actual process of writing a post
Their answers:

Seth Godin

sethIt doesn’t matter.

If you had Elvis’ microphone, you wouldn’t sing like Elvis, nor would you want to.

Readers don’t care about shovels, they care about holes!

Mitch Joel

mitchEditorial process: At the beginning of every day, I scan my email inbox. I subscribe to a significant amount of e-newsletters and I use this as my pure inspiration. If there’s something that really pops up, I tend to save it in an email inbox folder titled “blog.” Over the course of the day, if I find anything else that inspires, I also file it there by sending myself an email. When I finally feel like I am ready to write, there is usually one theme that bubbles up to the top and that’s the one that I roll with. My typical blogging time is at the end of the day, but inspiration can hit at any time… from anywhere.

Writing process: This pretty straightforward. I start with the title and just blog. Once the first draft is done, I do a quick spellcheck and glance for grammar. I review the post a couple of times and put in the tags last.

Brian Solis

solisAbout the only plan I bring to the table is the desire to blog and to do so with rhythm and passion. While I don’t maintain an editorial calendar, I do keep an open mind to trends and also the ongoing challenges and questions I see people asking or attempting to address. I keep a list of ideas as they come up via Apple’s Reminder app. For the most part, I write on the weekends. It’s quieter and I can slow down and focus enough to think through what I’m writing about, who it’s for and what the takeaway will be. I’ll then publish the posts later in the week. I don’t however, write against an outline. I go with a feeling and let it evolve naturally. I think about the outcome as I go to make sure that there’s value at the end. But, often I find that what I set out to write and what I end up publishing are often two different pieces altogether.

Ann Handley

annhEditorial: At MarketingProfs, our editorial process on the text/newsletter side is generally mapped out about a month in advance (with some flexibility for timely items that deserve coverage).

We aren’t a news site with real-time coverage — instead, we publish how-to information with an eye toward filtering the noise to get to the signal. We educate marketers about what they need to know, when they need to know it.

How to we know that? We listen, read tons of blogs/sites, and rely on the PR folks we have relationships with, as well. We also practice what I call “social prospecting,” looking for good writers/speakers/story or session ideas via social networks.

The one exception to my statement about us “not being a news site” relates to our research summaries (here’s an example: http://www.marketingprofs.com/charts/2013/10730/internet-ad-revenue-breaks-record-mobile-achieves-111-yoy-growth) and opinions (www.mpdailyfix.com), which are timely and newsworthy, but not necessarily breaking.

On my own site (AnnHandley.com), I feel no pressure to produce. So I only create content there when I can’t stand not to, and I don’t have anything that remotely resembles an editorial calendar. For example, after seeing Sheryl Sandberg speak in Boston recently, I felt compelled to write this (link), because I couldn’t not write about it. So the things I create there are far more emotionally charged for me. But the trade-off is that I post waaay less frequently.

Writing: I almost always start with a headline that expresses my distinct point of view, which becomes a sort of Blog Mission Statement for the whole post.

That headline doesn’t always end up being the one I use on publication, but it always gives me a framework and perspective to work from. This is critical for me because, as someone who started my career as a newspaper reporter, I sometimes find it a challenge to put “me” into the story, and to not feel like I have to cover an issue comprehensively, like a news reporter might. That was a huge shift for me, when I started blogging.

I know lots of people use word outlines and graphical organizers and mind maps and the like. But I’ve always been terrible at that. (Side note: I was always also terrible at diagramming sentences. Something about it feels like foisting math sensibilities onto the mystery and poetry of the written word. Also, I’m allergic to math.)

I’ll add one more thing about writing a post or article or pretty much anything: Sometimes writing comes easily, and the words flow onto the page as easily as soft butter onto warm toast. But that’s rare. More often than not, the words are like cold butter on sandwich bread: When you try to work it, the whole thing ends up kind of a mess.

It’s disheartening. Sometimes you cry. But if you keep at it, it somehow works out.

Writing is relatively easy. Good writing is very, very, very hard.

CC Chapman

ccEditorial: I wish I was more of a planner who would lay out a full editorial calendar, but that isn’t how I work (although I do it for clients all the time.)

For me when I get inspired, I write. Sometimes if I just have an idea and don’t have enough time to do all the full post so I’ll start a new post in wordpress and leave it as a draft. I’ve got tons of these and on days when I’m stuck for something to write I’ll go through the drafts and pick one.

I am constantly consuming content from every source imaginable and many times that will inspire what I decide to write about, but sometimes it comes from going for a walk, taking a shower or any other random time.

Writing: For me, I always write the post first. I’ll sit down and brain dump the idea directly into word press. Sometimes the headline comes first, but even if I have an idea for it, usually by the time I’m done writing it will evolve and change.

I proof read it at least twice with the final time being in a preview window so I’m reading it as it will look live on the site. This helps me notice strange formatting and since it is bigger text then the editor, I tend to notice mistakes a bit quicker.

Mark Schaefer

schaeferEditorial: I have absolutely no editorial calendar, which I find rather liberating. I write about whatever interests me and try to write ahead so I have at least 10 or so posts ready if I need them. To me, scheduling the blog is kind of what it must be like to conduct a symphony. You want it to flow in a harmonious way, pulling here and there to get just the right mix. I want there to be an ideal blend of tips, insights, opinion, and fun. Most of all it is has to be interesting and one way to accomplish this is to be flexible enough to write about what is happening now, not what was scheduled a month ago. It works for me, anyway!

Ian Cleary

ianEditorial: I only write about social media tools and technology and I get ideas from a variety of sources including tweets, subscribers that ask me questions, reading other blog posts and monitoring keywords related to social media tools and technology. I also often get an idea when I’m in the car or working out in the gym so I jot it down or create a task.

All content ideas goes into an editorial calendar called Divvyhq. There’s a place to park ideas and a place for scheduled content. Since using an editorial calendar I’ve got more consistent with my blogging and I’m not stuck for new content ideas because I’m always adding new ideas.

Writing: I go to Divvyhq and pick a post off my list or come up with a new topic basic on a combination of a couple of items on the list.

I then do some initial keyword research using Google keyword tool and SEOMoz to see if there are useful keywords I can target for the blog post.

I write an initial headline which I’ll always tweak a few times before publishing. I try to grab attention with my opening line and then outline what the angle of the story is. If I have some research or a quote to use I’ll add it in straight after this. I’ll then write the body of the post and finish off with what I want the reader to remember with a call to action to put in a comment!

When the first part of the post is written I’ll go to photopin and find some images to add to the post and then I’ll optimize the content for search engines.

When I post the content I schedule it as I have set days for publishing. When it is published it automatically goes out twitter using dlvr.it. but then I’ll manually post the content on a variety of platforms such as LinkedIn, Google+, Facebook, Inbound.org and Scoop.it. I also reach out to relevant audiences that might be interested in the post to encourage them to come back and read it. When I get comments I try to respond immediately to them.

So, since you made it this far I wonder if you might add your process?

7 Things I Did Not Know About Writing Before I Started

I remember thinking I wanted to be a writer as far back as high school. Only thing is I didn’t really know how to become one.

writing

photo credit: geoftheref via photopin cc

Then one day I decided that writing articles would be a good way to build my business, so I just started writing and a funny thing happened.

The practiced of writing daily turned me into a writer.

But, the habit of writing also shaped far more than my ability to create meaningful sentences and that’s the reason I believe that everyone in business must write.

Writing to express my thoughts transformed everything about how I approached business and trained me to view the world and my place in it in a completely different way.

Below are seven benefits I attribute to the fact that I write on a daily basis.

Writing makes me a better thinker – (understand that better is relative!) In an effort to create content that is succinct, reveals new ways to look at common things, or apply simple solutions to seemingly complex problems, I believe I now think about business much differently.

Writing makes me a better listener – When I engage in conversations or listen to radio interviews, I listen with a writer’s ear and often find my head filling up with ideas for blog posts by simply listening to others discuss sometimes unrelated subjects.

Writing makes me a better salesperson – I write like I speak and often I write to sell an idea or even a very specific tactic. It’s amazing, but I find that clearly stating idea pitches in writing has improved my ability to quickly articulate them in a selling or interview setting. It’s like you build up this reserve bank of pretested discussion points.

Writing makes me a better speaker
– This one falls nicely from the previous point, but I’ll also add that working through blog posts on meatier topics, those that readers weigh in on, has produced some of my best presentation material to date.

Writing keeps me focused on learning – The discipline required to create even somewhat interesting content in the manner I’ve chosen requires that I study lots of what’s hot, what’s new, what’s being said and what’s not being said in order to find ways to apply it to the world of small business.

Writing allows me to create bigger ideas – The habit of producing content over time affords you the opportunity to create larger editorial ideas that can be reshaped and repurposed for other settings. I’ve taken a collection of blog posts on a specific topic and turned them into an ebook more than once.

So, think you don’t have the time or the reason to write? – I hope you think again.

Tomorrow I plan to share a little bit about my writing process and how I choose what to write about. In addition I’ll features the thoughts of Mark Schaefer, Seth Godin, Mitch Joel, Ann Handley, CC Chapman, Ian Cleary and Brian Solis.

How to Turn Your Best Customers Into a Growth Engine

I’ve said repeatedly that building a vibrant community is the most important objective of any business these days.

photo credit: Mourner via photopin cc

photo credit: Mourner via photopin cc

While this may sound like some social media laced feel good sentiment it’s actually quite practical.

Making your business customers, prospects, suppliers and partners feel like important members of a bigger community simply makes long-term business sense and is the key to long-term growth in ways that you not have even considered.

Many businesses get the idea treating customers in ways that make them want to return and refer, but you should also look at your best customers as collaboration partners able to help you formulate plans for growth.

Creating new products and services and making plans for growth is tricky adventures. Why not systematically involve your customers in every decision you make? Why not create new products and services with your customers? Why not include them in content creation and marketing campaigns?

Why not get your best customers to tell you what they need and then help you create, iterate and perfect it?

Below are five steps that can help you build systematic community involvement into your growth plans

Champion personas

The first step is to segment your business customers into personality types. Not every customer group is right for this approach and you may likely have completely different segments, such as B2B and B2C, and may need to build entirely different approaches for different segments.

Additionally, you’ll want to identify customers groups or types that are more open to this level of involvement. One of the best places to look is for customers that already refer or evangelize what you do. Can you identify them specifically or can you at least come up with a description of common characteristics?

These are what I refer to as you community champions. This is the first group to focus on as you try to expand your community reach.

Ongoing mining

Next you’ll want to dig in and figure out what this group might be lacking. This is sometimes a little tricky as if they really knew they probably would have told you by now, but I find that posing a series of questions around what they wish they had, what they can’t find or what doesn’t seem to work, even about your current offerings, is a good place to start.

After you do this you’ll want to audit your content, touchpoints and revenue streams in an effort to identify a handful of potential growth and involvement opportunities.

Many times you can find ways to involve your customers by simply creating content opportunities such as guest blogging, case studies and video testimonials.

Consider events you might create where your customers can do some of the education. Host peer-to-peer roundtables and let your customers facilitate discussions among prospects.

Consider additional revenue extensions where your champion customers could moderate other customer groups and help add ongoing value.

Innovation circles

Once you’ve established some working rapport with your community champions get them involved in helping you build, test and refine new offerings.

Create what I like to call innovation circles to use to build with your customers. Take rough product, service, packaging and pricing ideas to your circles and get feedback. Then with this feedback create a beta test group that agrees to help you get it right. Then use these testers as case studies and early evangelists for your now much improved offering.

You don’t have to stop here either. You can use this same approach for all of your marketing initiatives, copy and positioning.

Accountability tracking

The final piece is the glue that holds this entire approach together and keeps your community champions coming back for more.

You must create a way to religiously track the results your champions are getting from their relationship with your organization as well as their greater involvement in the community.

This just makes good business sense, but it will also help reinforce the value you bring to the table over and above the somewhat empty claims of good service and low pricing used by your competitors.

One of the best ways to build this into your community is through game mechanics. Create ways for your community champions to participate in contests. Get them to compete with each other. Teach them how to help each other through tangible acts such as linking swapping, sharing and guest posting.

Make the use of your progress and services something they must report and even incentivize them by creating awards for people who come up with new uses and best documented results.

Partner platform

One way to take this notion up a notch is to teach a group of strategic partners how to do the same and then start cross-pollinating your communities.

When you create a common language and process, such as “innovation circles,” you make it easier to teach the methodology and create even greater participation as you and your partners are promoting the same approach.

Imagine how much more value you can bring to your community by building this kind of best of class partner platform, Further imagine how interested potential partners will be to learn how you plan to shine the light on them throughout your vibrant customer community.

Your customer champions want to help you grow and, while making referrals is one powerful way to involve them, when you take a formal approach like the one described above you’ll not only make it easier for them to refer you, you’ll create a team of business partners eager to help you plan and grow.

Who Would You Choose to Be Your Customers?

Much has been said in marketing circles about target markets, demographics, psychographics and other ways to define who and what makes an ideal customer.

personas

photo credit: Fulvio’s photos via photopin cc

The notion mostly implies that you determine the makeup of a market that your business seems suited to attract.

The thing that’s always bothered me about this simple approach is that it sort of has a lowest common denominator element to it – who can we attract?

What if you changed this point of view to something more like – whom do we deserve to work with?

Have you ever considered the following question? – What qualities would our ideal customers have?

I’ve spent the last few years evangelizing this idea of an ideal customer. For me the idea implies behavior as much as demographics.

And here’s the other thing, don’t you deserve to work with customers that appreciate your unique value?

Now some might suggest the idea of choosing your customers as somewhat egotistical, but it’s not at all. If you want to work with the leaders in your marketplace, then you better up your game so that can deserve to do so. It’s actually quite a humbling and centering idea.

I was talking about this very idea with a long time friend the other day. Eric Morgenstern’s firm, Morningstar Communications has experienced tremendous success and his roster of client reads like a “most desired” list.

Eric heard me share my thoughts on ideal customer during a presentation to a group of business owners and he later told me how behavior plays an extremely large part in the clients they seek out and, perhaps as importantly, those they don’t.

“Our clients are nice, smart and successful. Two out of three is not sustainable.”

“We’ve observed:

  • Companies that are “involved in the community” tend to value effective communications, and our high level of service.
  • Companies that are “lifelong learners” tend to value effective communications, and our high level of service.
  • Companies that are true leaders believe, “. . . an educated customer is a great customer.”

Those are correlations that help us assess each individual prospect.

So much is a gut feeling . . . about the organization and its leadership, based on expertise and experience.”

So, gather the troops and start asking about ideal customer behavior, traits and qualities that define success.

Begin by exploring personas that you don’t want to work with. Persona is a term that takes its meaning from the idea of a theatrical role. In marketing the term is used to describe the common characteristics of a customer group much like the make up of a character in a play.

A client of mine did this exercise for his design and consulting business and was able to complete sketches of the kinds of clients they did not want to work with in such a way that it made it much easier to define what ideal looked like.

He used personas with names like Lottery Winners and Destined to Be Small to frame qualities that made up red flag customers. He even went as far as to identify customers that he was no longer going to work with.

That’s the funny thing about getting some clarity around this idea – until you know who you must work with, who you choose to work with, it’s far too easy to take work and customers that drag you away from the work you deserve to be doing.

Saying it doesn’t make it so, but until you are working towards defining, understanding and nurturing who you truly deserve to be working with success will elude.

Digital Marketplaces Becoming a Viable Small Business Channel

Marketplaces have been with us for centuries. Around the time people started trading inside and outside of their village two models developed.

marketplace

photo credit: Bert Kaufmann via photopin cc

You either took your stuff on the road and sold it door to door or you showed up somewhere near the center of town and rented a stall in the market or bazaar.

Even today’s shopping center is based on the marketplace concept – lots of people go to one place where they can go to lots of stores at one time.

You could make a case for the fact that the Internet in general is little more than a really, really big marketplace – containing everything that has ever been made along with everything that’s ever been said.

Unfiltered as it is though, the Internet is a bit like going down to market and finding that if you walk through the stalls for about fifteen years you wouldn’t even make a dent in what’s there.

eBay was one of the first to crack the marketplace code online. eBay aggregated buyers and sellers of stuff, mostly stuff in the attic and garage, and took a fee on the sale.

In recent years others have entered the digital marketplace business and the model, including eBay’s model, has evolved to the point where it represents a significant distribution channel for businesses large and small, B2B and B2C and is no longer limited to physical products.

Today sellers can find viable marketplace distribution in places like Amazon, Buy.com, Newegg, Ariba as well as eBay. Even traditional retailers like Sears and BestBuy are getting into the marketplace game. And, it’s pretty obvious that Facebook has plans to fall into this category as well.

Marketplaces are not limited to sellers either. Marketplaces like Alibaba are making it easier than ever for business to find and source suppliers and manufactures of products from around the globe.

As small businesses consider digital marketplaces for additional distribution, they must weigh the advantages and disadvantages, learn best practices and specifications and tricks of the trade in order to stand out.

Advantages of digital marketplaces

  • Pre-built market – some marketplaces have millions of customers visiting on a daily basis.
  • Shoppers with intent – people often come to a marketplace ready to buy something if not a very specific item.
  • Convenience – Shoppers love the convenience and one stop shopping approach with one login.
  • Niche markets – Some marketplaces build communities interested in very specific types of items.
  • Fulfillment – Marketplaces can become a fulfillment center. Amazon’s Fulfillment by Amazon program is a huge boost for some companies.
  • Credibility – Smaller, lesser known brands can benefit from the trust built by a marketplace.

Disadvantages of digital marketplaces

  • Competitive proximity – Sure there are lots of shoppers, but your competitor might be in the next stall, so to speak, offering a lower price or better options.
  • Commoditization – Some marketplace shoppers are simply looking for the best price on a comparable product.
  • Loss of brand – What makes someone want to do business with you based on an awesome experience can be lost in the matching specs of a marketplace.
  • Listing idiosyncrasies – Every marketplace has it’s own way of getting your stuff listed, priced and highlighted.
  • Order management – Some small businesses don’t have the IT infrastructure to handle order management systems required to play at a high level.
  • Hard to stand out – Winning the digital marketplace game takes a lot of work – uploading your products via a data feed and calling it a day is not going to cut it.

Best practices

If you decide to test a marketplace there are a handful of musts in order to make a go of it.

  • Start slow and build – Unless you’ve got a full time IT staff it’s best to pick a marketplace and try to build your chops one at a time rather than jumping in and distributing your resources in ways that will dilute your time and attention.
  • Go for Gold seller status – Every marketplace has some algorithm that rewards the best sellers. Some of this is sheer volume, but things like ratings and response times play a huge role. Gold status usually affords better placement. (Yet another argument for starting slow and working out the kinks)
  • Need for speed – One of the quickest ways to rise and fall in the ratings game is quickness. Get your products in the customer’s hands as fast as possible.
  • Provide tracking (Holidays!) – Provide lots of communication. Let people know if they can get something by a looming Holiday date. Exceed expectations.
  • Grow with automation – Once you hit any level of volume in one or more markets you’ll need to find and employ tools that help you list, track, manage and reprice your listings based on the real-time activity going in a market. Some suppliers move the price of items up and down multiple times during a day making it tough to stay on top with a spreadsheet as your only tool.

Digital marketplaces can open up a world of opportunities or they can become a fast way to discount your products. The key is to establish your distribution in other places, refine your processes and then look for additional opportunities in the growing world of online maketplaces.

How to Choose the Right Business Model for Your Start-up

 FedEx

business model

photo credit: guilhembertholet via photopin cc

Lots of people talk about business models these days, but what does it really mean? When it comes to starting or planning for business success your model is essentially your decision about how you intend to add value – which is another way of saying – how you intend to make money.

Business is a pretty simple thing really, but I think people planning to start one or even those engaged in running one can over think it.

Every business does basically four things:

  • Make stuff – This might mean an actual product, but it also includes making a determination about what markets to enter and how to innovate.
  • Market stuff – Whatever the business is meant to do it can’t survive long unless people know about, understand it and are motivated to buy from it.
  • Deliver stuff – This is where the real value exchange happens. No matter if this is a product or a result, the business must exchange what has been promised.
  • Count stuff – This is what most would call finance, but to me it also includes measuring and analyzing all manner of data, both tangible and intangible.

The basic business models to consider:

Product/service – A business can make and sell its own products and services. This is probably the most common approach. Evernote makes a great software product and distributes it through a free to upgrade approach. A marketing consultant sells a consulting engagement for a monthly retainer fee.

Products and services can be packaged and distributed through a multitude of channels and delivered in physical form, digital form and as one time purchases or ongoing subscriptions.

Reseller – Resellers don’t necessarily make or even warehouse what they sell. They find products or represent brands and generally make profit based on the difference between the price they sell a product for and the price they must pay to acquire or sell the product.

Affiliate marketers fall into this category as do what are commonly referred to as value added resellers (VARs). Microsoft partners, for example, sell and install Microsoft products and add services, such as customization and training, to enhance the basic product.

Many straight up eCommerce companies, such as JustBats.com, fall into this category as do many eBay and Amazon sellers. Most retail establishments also fit this model.

Broker – The broker essentially brings buyer and seller together and takes a transaction fee. They may also provided services that make a transaction happen more smoothly, such as the case of a real estate agent.

This category has exploded with the growth of online platforms that make bringing buyers and sellers together from anywhere in the world much easier. In many cases this business model includes the creation of a marketplace, handling transactions and ensuring security. Clarity.fm is a great example of the new breed of broker as they bring experts and those seeking advice together.

PayPal is another example of brokering services between a buyer and seller. In this case, it’s the actual exchange of money.

Aggregator – An aggregator builds a community and then charges for access to the community. In many ways publications and news sites fit this model as they build a subscriber base and then charge advertisers a fee to gain access, by way of a positioned ad, to their community.

Comparison shopping sites, like Shopzilla, and daily deal sites, like Woot are prime examples of how the Internet has grown this category.

So, how does an entrepreneur decide what business model to adopt?

If you have an idea for a business then you should consider the following elements to help determine your best approach

  • Market Potential – It’s probably a good idea to determine how big the market could be for your idea. There’s nothing wrong with going into a very narrow niche, but you might build a different business than if there is a greater potential.
  • Competitive Landscape – You must understand who else is already doing what you want to do and get a real feel for what their value proposition is. Having competitors who forge and prove demand for your idea is not a bad thing.
  • Ideal Customer – In startup mode this may be a hypothesis, but you need to narrowly define the characteristics and qualities of the customer you intend to serve. From here you can begin to get a better view of the size of the market and how to best access it.
  • Value Proposition – There’s one question you must be able answer in a compelling way – why you? Every entrepreneur falls in love with their concept, but it you can’t very simply explain why a market is going to choose your idea over another you’re destined to wobble around trying to grow.
  • Distribution Channels – There are many, many ways to get your product, service or idea to market. Direct sales force, distributors, eCommerce site, retail store, sales reps, and marketplaces like Newegg. In some cases you might even choose a combination of several. This is a crucial decision as profit and expenses can very greatly depending upon the model that fits.
  • Revenue Streams – Your business should have a core way to make money. But, a strong business model should also consider additional ways to add value and make money. This can be through the sale of related products – Map My Fitness sells a premium upgrade for their core app but also creates a marketplace for 3rd party addons such as heart rate monitors and bike computers. It can also come from the convergence of several assets – a consultant creates blog traffic and notoriety for their point of view and adds advertising, speaking and books as revenue streams while enhancing their core consulting business.
  • Strategic Relationships – Many business models hinge on developing partnerships with companies that have products or services that are central to the model – a software company may need relationships with key software makers in order to build a business. This might also include key competencies – an electrical contractor may find that they must find technicians or partners with low voltage expertise in order to service the growing demand for data and entertainment related installations.

So, the process for determining a business model is really an exercise in understanding the classic models and determining the best fit for your idea through a process of elimination.

3 Books for startups – each of these books come at this idea from different angles and make great reading for startups and season owners alike.

 

5 Ways to Make Your Advertising Extraordinarily Effective

Advertising is an important part of the lead generation puzzle. Some marketers suggest that you can do without the cost and low returns they attribute to advertising, but done right, advertising is a tremendous tool.

advertising

photo credit: x-ray delta one via photopin cc

I advocate an approach that calls for a mix of lead generation tactics that includes advertising, public relations and a systematic approach to referral generation.

The biggest thing that advertising has going for it over most other forms of lead generation is control. You can control who sees your ad to some degree and you can control when your ad is run or sent. (I’m including direct mail in this statement)

So, if you have a new product launch or sales promotion planned, you may have lots of activities planned but your advertising is the one element that ties your launch to a date.

The key to effective use of advertising lies in how you think about it, what your objectives are and how you adjust your approach in real time.

Below are five elements that you should consider to make any form of advertising more effective.

1. Lower your expectations

I don’t mean you simply need to expect less in general, but you should probably be realistic about what an ad can do. If you are running a small online ad it might be unrealistic to believe you can sell a multi-thousand dollar consulting engagement from 15 words and a link.

The objective of your ads should be to move people from awareness to like and trust by having a small call to action that benefits them such as downloading a checklist or audio. The goal of most advertising should be to capture an email and start a relationship, not sell a product or service.

2. Cast narrowly

Most advertising, online and offline can be targeted at a narrowly defined viewer and this is a must. A radio station that tells you that 75% of its listeners are 18-55 isn’t narrow enough.

If you sell dog collars, select dog owners on Facebook. Group your Google AdWords in very tightly crafted keyword groups to target people looking for very specific things. Find geo targeted mailing lists and then cross them with lists of people that buy a similar product.

3. Promote content

The way to drive the greatest advertising response is to give away something people want. Use your ads to promote free eBooks, how to checklists and events that will help them learn what they want to learn.

Make content your call to action, deliver awesome stuff, capture leads and gently move them on to even more awesome stuff as you introduce everything they need to know about why your products and services cost more than the rest of the market.

4. Measure everything

The most successful marketers I know can tell you exactly how every element of their marketing is performing and why. It takes a great deal of work to get serious about things analytics and tracking, but you won’t really succeed until you do. You’ll either waste a great deal of money and fail or you’ll waste a great deal of money and limit your success (possibly a worse fate.)

By taking the time to create a process that allows you to measure every aspect of your advertising you stop losses, make good better and perfect the best all the while staying tuned in to what your market wants more of.

5. Test everything

This last element goes hand in hand with measurement, but takes it a step further. Once you have a baseline you can start to work on improving your results by simply tweaking things like headlines, calls to offer, visual elements, keywords, content, publications and lists.

Once you know what’s working in one place you can expand to test it in other places. I often recommend using inexpensive Google AdWords campaigns to test out headlines and landing pages before broadcasting more widely.

The online advertising space, particularly in social networks, is changing so rapidly that I believe you also should test out every new social network ad unit as they come online to get a feel for what works and what doesn’t in this evolving space.

As you can see, advertising is for more complex if done well than renting some space and putting up a pretty face.

How to Make Strategy More Than a Nice Idea

Few things are more confusing to business owners and marketers than the idea of marketing strategy.

marketing strategy

photo credit: HikingArtist.com via photopin cc

I think that’s due in part to simple misunderstanding by many who try to apply the concept, but it’s also due to the fact that strategy is very malleable – that is to say, it can be many things.

A very solid way to define business strategy is the effective use of resources to reach stated objectives. Perhaps a more tangible way to define marketing strategy would be the effective use of resources to create and communicate a valuable and profitable difference in the marketplace.

Either way you can see there’s lots of room for interpretation.

But, rather than debate the proper way to define what marketing strategy is, I would like to share how to develop it, bring it to life and give it a voice. No matter how perfectly you state your marketing strategy, if it doesn’t live firmly in the tactics you employ to develop customers it’s all for naught.

The act of driving strategy deeply into your marketing consists of three elements:

Determine a core point of difference – This is how you state why someone should hire you as opposed to someone else who says they do what you do. It’s your unique value proposition and it must be developed with a narrowly defined ideal client in mind.

I’ve written about this idea frequently and suggest you visit this post on ideal client and this post on core difference to get very specific how to instructions on this element.

Create an engagement framework – Strategy based engagement thinking forces you to push your core marketing strategy into every marketing activity. I’ve developed a very powerful tool for building this kind of framework called The Marketing Hourglass.

The Marketing Hourglass is a concept that asks you to create processes, products, campaigns and engagement aimed at logically moving prospects and customers through seven stages – Know, Like, Trust, Try, Buy, Repeat and Refer. By viewing each of these stages as a place to reinforce your core difference as well as deliver key information, you create the kind of engagement that leads to you most profitable clients.

Map content to strategy – Once you develop your core difference and outline your Marketing Hourglass it’s time to give your strategy voice. This is based done by mapping how you will communicate your core difference through content that creates awareness, educates, builds trust and converts.

You won’t necessarily create every tactical element involved in implementing these three steps, but the planning process involved in fully developing your organization’s marketing strategy must consider these elements as three parts of the strategy puzzle.