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  • Social Media Mistakes to Avoid

    We are always happy to highlight tips and posts on how businesses can better leverage social media for marketing success. But today we want to share a list of what businesses should avoid doing. At Entrepreneur , social media consultant Starr Hall lists the top mistakes she sees businesses making with social media. Here they are: 1. Talking One-Way; 2. Not Knowing When to Ask for Business; 3. Shiny Object Syndrome; 4. Poor Messaging; and 5. Sales Faux Pas. Click here to read Hall's descriptions of these mistakes, and for tips on how to avoid making them.
  • IBM at 100: Staying Power Based on Ability to Change

    IBM is marking the 100th anniversary of its incorporation. And far from being a relic, IBM seems to have caught its stride once again in the last decades. Take a look at the company's market capitalisation compared to its young competitors in the tech sector (from The Economist ): It is a remarkable feat for any company, but especially so for a high tech company. IBM operates in a field where the basic foundation of business products changes rapidly. But, as The Economist details, the company has survived by doing what so many companies across a variety of fields fail to do. Its business was based on punch cards, but it did not allow itself to become a dinosaur when punch cards started to fade in favor of the early calculating machines. As leadership of the company passed from Thomas Watson, Sr., to Thomas Watson, Jr., IBM became the global leader in computing. From The Economist: Under the younger Watson, IBM became by far the world’s biggest computer-maker. He did the trick by betting the company on the System/360, IBM’s first family of mainframe computers, which took years and $5 billion (in 1960s dollars)—more than the Manhattan Project that led to the atomic bomb—to develop. Launched in 1964, the System/360 became the first dominant computing platform, mainly because all the family’s machines, big or small, were “compatible”, meaning they could run the same software. By 1969 IBM’s market share had grown to 70%. It thus became the first IT company to be called an “evil empire” and aroused the ire of America’s antitrust authorities. The Reagan administration eventually dropped the case in 1982, asserting that it had been “without merit”. The second platform shift—from costly mainframes to “distributed” computing systems, including PCs—was a much closer shave. Even while the antitrust case was dragging on, technological progress had begun to undermine IBM’s near-monopoly and, more importantly, its business model of renting its expensive machines to customers. Since this was highly profitable, IBM was very slow to deliver cheaper and distributed computing systems, made possible by new processors. When these systems took off in the early 1990s, IBM’s business collapsed. Mainframe revenues dropped from $13 billion in 1990 to $7 billion in 1993 and losses of $16 billion piled up. “Only a handful of people understand how precariously close IBM came to running out of cash,” wrote Lou Gerstner, who was brought in to turn the company around, in “Who Says Elephants Can’t Dance?”, his book about the revival. He fired 35,000 employees to cut costs. The lesson of the story appears to be that companies that develop a strong sense of what the company is rather than being simply a vehicle for a certain product or certain type of product stands a better chance at long term success. Read IBM: 1100100 and counting here .
  • Marketing Sherpa Case Study: A Successful Web Redesign Brings More Customers to Bricks and Mortar Business

    David Kirkpatrick reports on an interesting case study for Marketing Sherpa today. Matt Matros , owner of Protein Bar , a restaurant in Chicago, decided to redesign the company website. The technology of the old site was outdated, and Matros was expanding the business. The redesign took two months, and when the new site went up, the results were impressive. Kirkpatrick reports that page views increased nearly 500%, the number of visits also went up exponentially, and "time-on-site increased by 179.97%." So what were the key steps? Kirkpatrick writes that there were three: Step #1. Set benchmarks and develop the site Step #2. Leverage social media and content marketing Step #3. Understand your market Get the details in the Marketing Sherpa case study, here .
  • MarketingProfs: Key Traits of a Successful Chief Content Officer

    Not many years ago, the only businesses that needed content editors were in the media business. Now, most companies are essentially content creators in some capacity. As Ann Handley , chief content officer for MarketingProfs , writes, "everyone doing business online is a de facto 'site publisher.'" With Chief Content Officer becoming an essential management position, Handley offers this list of "11 key traits" to look for when hiring: 1. Training as a Print or Broadcast Journalist 2. Nose for a Story 3. Digital Intuition 4. Business Acumen 5. An Amateur Passion 6. A Community Leader 7. Social DNA 8. An Open Mind 9. Knowledge of the Industry... or Not 10. A Winning Personality 11. Editorial Skills Read Handley's elaboration on these traits here .
  • Marketing Charts: How to Lose Friends on Facebook

    It has to be frustrating for marketers. You work hard to get consumers to like your brand. And by "like your brand," we mean click "like" on Facebook --a big win as it allows you to engage with them more through social media and build them as brand advocates. But then, according to Marketing Charts, just over half of your Facebook fans decide they no longer like you. What went wrong? It appears that some marketers turn off their new-found friends/brand advocates by being a little too overzealous. This chart from Marketing Charts shows the top cited reasons why consumers change their minds when it comes to liking brands on Facebook: Read more from Marketing Charts here .
  • Content Management Myths

    As Co-Founder and Chief Branding Officer at Outspoken Media , Lisa Barone works with companies on their online content management. She is a big believer in the idea that managing your brand today is largely about managing your online content. And judging from her latest advice piece at Small Business Trends , Barone doesn't want to hear any excuses. She writes, "If content creation is an area that still makes you a little uneasy, it’s time to tackle it." And she sets out to debunk four myths of content management, and some tips on overcoming those myths. Myth number 3 is "They’re not publishers:" Are you using any combination of a website, a blog, social media or a wiki to market to your customers and build your business? Then congratulations – you’re a publisher. With that responsibility means now you have to start thinking like a publisher. It’s not enough to run your blog or your content marketing like it’s a hobby – you need to put an editorial calendar in place and plan out what you’re going to say, when and why you’re going to say it. Even if you don’t have a website and you’re running your business from your Facebook page (which you shouldn’t do, BTW), you’re responsible for generating your unique brand message, inspiring fans and sometimes gathering user-generated content. Once you accept that, you being to look at content not as simply something you publish, but as a way of attracting and retaining more clients. Read about the other 3 myths here .
  • When CEOs Tweet--Social Media and Top Execs Engaging with the Public

    With the advent of the social media age, businesses have new ways of interacting with their customers. And company executives now have the opportunity to engage with the public. Some CEO's have jumped right in and use tools like Twitter to enhance their personal brand as they are pushing their company's brand. Stephen Miles --vice chairman of Heidrick & Struggles --sees this as an important development, and while he doesn't think all CEO's need to be Tweeting, he does think all executives need to have a strong social media strategy. He discusses the importance of engaging with the public in this excerpt from an interview with Big Think: Watch the full interview here .
  • Brand Resolutions for 2011

    Maybe you have made some personal resolutions for 2011. Perhaps you have even kept those resolutions for the first three days of the year. Good for you. But have you made resolutions for your business brand? Paul Williams of MarketingProfs recommends that you do. And he shares some resolution ideas from Shawn Parr of Bulldog Drummond . Here are a couple of ides from Parr's top ten: #2. Revisit and Refine your Purpose Take the time to look back at your mission and vision, and ask if you were living it in 2010. Look for places to bring it to life with your team, explore whether you need to refine it. Remember: The words aren't set in stone. If they're not resonating, rewrite and revise! #5 Set Some Big Goals Set at least one wild and audacious goal for 2011-something you've never tried before. Outline the goal, share it with your team, and challenge them to play their part in achieve it. Just don't forget to celebrate the small victories and successes on the journey. and our favorite, #7 Inject Fun Into the Everyday One of the best motivators for your team is a great work environment. This year, start doing small things that make your employees happy. A monthly massage for a team who've put in hours of extra energy, a weekly cookie pot-luck. Small gestures or events can make a big difference. And the benefits won't just stop with your team, they will show through everything that your brand does. Happy people equals happy brand. Read the full list here .
  • From Entrepreneur to Trusted Resource

    David Garland of The Rise to the Top is comfortable pushing for attention, and he thinks all entrepreneurs should embrace celebrity. Not the US Weekly version of celebrity, but rather celebrity as a "trusted resource," and a "go-to person and company," as Garland writes at Small Business Trends . And Garland believes a trusted resource does the following: Educates, entertains and inspires. Makes a lot of money because people know, like and trust him or her. Is often a person as opposed to a faceless company. Is accessible and transparent on social media sites, via e-mail, etc. Is not all-knowing and stuffy, but instead friendly and helpful. Read Garland's advice on how to become a trusted resource here .
  • Gen Y's Buying Power and What Brands Will Do Well With the Next 'Greatest Generation' of Comsumers

    NYU Stern School of Business professor Scott Galloway points out that there are now more members of Generation Y than there are Baby Boomers. And as Gen Y members eclipse their parents in number, they also are poised to take their place as the generation with the most spending power. And Galloway says that means that they will dictate the future of business--especially Gen Y members in China. In this talk at the L2 Generation Next Forum , Galloway breaks down the key characteristics of Gen Y, and what brand marketers need to know about the "next 'Greatest Generation'":
  • Woodstock's Lasting Legacy in Marketing

    A lot of media outlets looked, and listened, back 40 years this weekend, commemorating the anniversary of Woodstock . The music festival and subsequent documentary may or may not have "changed the world" as so many participants predicted or hoped. But, as you can see in this Wall Street Journal video, it did change the music business. And, as the narrator says, Woodstock :"usher[ed] in a whole new era of marketing."
  • Protecting Your Brand in Web 2.0 World

    Kern Lewis , president of small business marketing consultancy firm GrowthFocus , says marketers need to stop fretting about how little control they have over how messages spread in the viral, social media-driven world of Web 2.0. In reality, customer "have always been in charge" or how brands develop, he says, "the feedback loop is just a lot faster now." Customers can spread negative opinions about a product or company more quickly and widely than ever before, so brand managers need to know the digital turf better and they need to be quick. At Forbes.com , Lewis shares some advice at how to act on feedback. He says "be vigilant," "be active,' and "be honest": Given all the mud being slung at corporate America these days, honesty and clarity have never been more important. If you make a mistake, own up to it and demonstrate that you are taking steps to fix the problem once and for all. Remember: Giving customers what they paid for is nice. Demonstrating your commitment to quality and improvement will keep them coming back. And that's what building a strong brand, in any age, is all about. Read How to Maintain a Brand here .
  • TV Exec Says Advertising is About Money, Not Brand

    Longtime television executive Henry Schleiff runs the Hallmark Channel as head of Crown Media Holdings. Despite the brand-identiity push of adverstisers in recent years, he believes television advertising is not about building brands after all. It is, he says, about selling products. In this AdAge video from the 2009 Upfront Summit , Schleiff says it is time to blow up old myths about television viewing and ads.