Jun
21
Social Media vs. Search Engine Optimization
Filed Under Networking and Marketing Strategy, Search Engines, Social Media and Social Networking Sites, Web Marketing | 11 Comments
Social media sites are rapidly altering the web marketing landscape. Now you can use social media to drive targeted traffic to your websites.
You may be trying to determine whether social media is a viable alternative to search engine optimization.
After all, search engine optimization requires extensive keyword research and ongoing content development to achieve top search engine rankings. Is it possible that social media sites might provide a more expedient web marketing solution?
I’ve found in my experience that social networking sites and other social media can generate a modest level of response much more quickly than search engine optimization initiatives. So why not focus exclusively on social marketing?
Social Media AND Search Engine Optimization
Please read The Long Tail and Social Media, and you’ll start to appreciate the extent to which search engine optimization can enhance social media.
Not only does search engine optimization help you promote your website, it also helps you promote your social media content. Your website and your social media together constitute your web presence, and search engine optimization helps you to market your overall web presence.
Interestingly, the converse is also true.
Social media helps your search engine optimization efforts. It adds to the links back to your website generating both referral traffic and credibility with the various search engines.
They key is to coordinate your social media and search engine optimization, creating the maximum synergy between the two through an integrated approach.
The New Online Marketing Professional
It’s no longer enough for online marketing pros to be fluent in search engine optimization technique. They must also fully understand social media sites and their role in building both your online presence and the desired backlinks to your website.
Don’t miss any future articles! Subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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Jun
11
Why Doesn’t My Website Generate Sales?
Filed Under Networking and Marketing Strategy, Search Engines, Web Marketing | 8 Comments
Could it be that your website looks nice but fails to help you meet your web marketing objectives? Too often that is the case.
Lots of effort and expense went into building your site, but your return on investment is marginal or non-existent.
Here are possible reasons why your website isn’t generating leads or sales and some ideas that might help you correct the problems.
Too Little Traffic
Perhaps you lack an effective strategy for driving visitors to your site.
You set up your storefront but didn’t tell potential customers that you were in business, a mistake I often see both online and off.
Lack of traffic leads to lack of exposure for you and your offer or message.
Don’t assume that traffic will somehow find its way to you through word-of-mouth, search engines or otherwise. It rarely happens that way.
Generate exposure for your website offline via print advertising, direct mail, radio, etc. and online using social media, search engine marketing, search engine optimization and so forth.
Think big. You can dominate your niche, so don’t settle for less.
The Wrong Traffic
You have traffic, but either your traffic is not targeted or it’s poorly targeted, the result of using bad copy, selecting the wrong media, or choosing the wrong keywords.
For greater and more targeted traffic, employ a good mix of research, analysis and experimentation.
Direct marketers have been using this approach offline since before you and I were born, and it works like a charm online as well.
Insufficient Stickiness
You have plenty of visitors, but they leave your website too soon.
Consider these questions:
- Are you targeting the right traffic?
- Are your branding and message clear?
- Are your pages too cluttered, or do you give your visitor too many choices?
- Is your font hard to read? Try to avoid white on black in all your media, since it slows down your reader.
- Is important content “above the fold?” Can visitors see your most important content without scrolling down?
- Is your content up-to-date, relevant and interesting?
- Do you use social techniques on your website to engage your visitors?
Poor Conversion
You have plenty of visitors who stick around but nothing happens.
Here are more questions to ponder:
- Do you have a conversion strategy?
- Does each of your pages have a call to action?
- If not ready to buy, can your visitor join, opt-in to or subscribe to your site?
If you don’t have a lead capture mechanism and follow-up strategy, you’re leaving lots of money on the table.
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May
24
The use of the word holistic is a bit problematic, although it did catch your attention.
Holistic emphasizes the importance of the whole and the interdependence of the parts. But is not each whole a part of a greater whole?
Web marketing is one part of the marketing function, as is offline marketing. The marketing function is one part of the business enterprise, as are finance, HR and MIS. And so on.
Therefore it seems that holism is relative and depends entirely upon one’s perspective.
Nevertheless, I emphasize the importance of web marketing as a whole and the interdependence of its parts which can include all of the following:
- needs assessment and planning
- competitive intelligence
- market segmentation and targeting
- positioning
- keyword research
- on-page and off-page SEO
- multimedia content development
- content management
- legal review
- web site design and programming
- search engine marketing
- database management and e-mail marketing
- social media policy and training
- social media optimization
- social networking community moderation
- reputation monitoring
- marketing analytics
- tracking of key performance indicators
That’s quite an impressive list, and it’s not necessarily complete.
As a whole, web marketing requires the expertise of generalists who have some knowledge of each of the many interdependent parts. Generalists can see the forest through the trees.
Each of the parts requires the services of specialists who possess a great depth of experience in their individual areas of specialty.
Being a generalist but having good experience in several key areas allows me to effectively wear more than one web marketing hat.
I stated in Web Developers Don’t Know Social Media that web developers know “how to build a website and how to create a web page that interacts effectively with visitors,” but that they “are neither experienced Internet marketers nor skilled copywriters.”
It’s equally true that copywriters know how to write effective copy, but they don’t know how to assess the competition nor how to compute marketing metrics.
Web marketing is a team effort. The team cannot succeed without its captain nor the captain without his or her team.
Choose a wise captain, and let your captain assemble your web marketing team.
Don’t miss any future articles! Subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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May
13
The Long Tail and Social Media
Filed Under Blogging, Networking and Marketing Strategy, Search Engines, Web Analytics | 10 Comments
The long tail has recently become a major buzzword both in business and online.
The long tail concept is rather abstract, so it can help to look at concrete examples. Let’s look at examples from my blogging experience.
The Long Tail of the Search
I started publishing Online Social Networking in November 2007, and I installed Google Analytics to monitor, analyze and track traffic to my website.
My blog, as you can probably guess, has been search optimized for the keyword online social networking.
Out of 25,515 visits that were due to search engines, only 1,469 were searches for online social networking. The remaining 24,056 visits were based on 10,769 other search terms. 3,658 of those 10,769 were variants of online networking.
Fewer than 500 of the 3,658 search terms were used to find my site more than one time. These search terms each occurred very infrequently, yet in aggregate they accounted for a great proportion of my visits.
The long tail of the search refers precisely to this phenomenon.
Most searches are based on all sorts of low frequency keywords. See the diagram to the left in which the yellow region under the curve corresponds to the long tail.
The Long Tail of ROI
I spend several hours writing each post on my blog and another hour or so bookmarking and promoting it. My hope is that people will come read the article and subscribe. Just to keep things simple, consider subscribing to be my return-on-investment.
A couple of hundred people, more or less, will visit within a couple of days to read my piece. Some will comment, and some will subscribe.
As I mentioned above, my blog is search engine optimized. I receive more than 100 visitors daily just from search engines. Over time each individual article on the blog will be read by a handful of search visitors per day. That’s not a large number, but it eventually adds up.
That’s the long tail of ROI: The small number of residual daily visits and subscriptions eventually match or surpass the initial surge of visits and subscriptions when the article is first written and posted.
The Allure of Social Media for Marketing
There are many aspects of social media that are appealing. It’s free. It’s social. It’s far reaching. However, the long tail aspect of social media I’ve described makes it especially attractive to savvy marketers.
Well written and keyword researched content remains online indefinitely and attracts an enormous number of search engine visits over time, a benefit not enjoyed using other media.
Don’t miss any future articles! Subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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Mar
22
Web Developers Don’t Know Social Media
Filed Under Networking and Marketing Strategy, Search Engines | 13 Comments
A web developer knows how to build a website and how to create a web page that interacts effectively with visitors. Web developers can often organize information and design web sites with great visual appeal.
Generally speaking however, web developers are neither experienced Internet marketers nor skilled copywriters. They specialize in following, tweaking and implementing the specifications provided to them by small business owners and corporate marketing departments. A web developer is a technician skilled at converting a set of instructions into an interactive web site.
Launching and promoting a web site and building an Internet presence require more than a development effort. Here are eight other elements that will likely figure into your online presence:
- Your niche and perhaps micro-niche - What specific need or needs will your products or services fill?
- Positioning and branding - What distinguishes you from your competition? How can you position your brand so that it’s at the top of it’s own category?
- Targeting - Who will use your brand and how can you connect with them online and offline?
- Your keywords - What terms are people searching for that are relevant to your brand and which are the best ones to compete for?
- Content - What do you say on your site? How do you communicate your ideas, and how do you weave in the keywords indicated by your keyword research?
- Contextual linking - Creating meaningful hyperlinks within your site content that help the reader and the search engines.
- Link building - Getting the best sites to link back to you and other SEO strategies to attract search visitors and drive referrals to your website. Listing your site in appropriate directories. Submitting your site and content to social bookmarking sites, and writing press releases and articles that will also link back to you.
- Web promotion and list building - Leveraging social networking sites, video sites, e-zines and PPC ads to drive even more people to visit and register at your website or your blog.
To build a successful web presence requires a team of marketing, design and development professionals to tend to each aspect of your online campaign. In many organizations, some people will assume several roles.
If you’re a small business owner, I recommend that you let a marketing consultant bring together and manage the expertise and skill sets that will be required.
If you have more time to invest than money, Site Build It! is an inexpensive option. You learn each phase as you go and are guided step-by-step through your project.
Don’t miss any future articles! Subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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Mar
1
Social Media One Bite at a Time
Filed Under Facebook, Networking and Marketing Strategy, Ning Sites, Social Media and Social Networking Sites, Twitter | 14 Comments
Short Version of My Story
Today I tell some of my own story and share some of my own social media strategy.
This article is about an idea that was planted in my head and how I nurtured that idea. The article is slightly longer than usual, so please hang in there with me.
Creative problem solving has been a forte since my teenage years as a math whiz and chess champion.
Once I started working, I was able to apply my problem solving abilities and help companies to improve their business processes and to get a better handle on many different types of business and scientific data.
Thirty years into my career I learned about the social media and Web 2.0 revolution from Time Magazine’s December 2006 cover story, Time’s Person of the Year: You. I saw that while I could no longer be one of the earliest adopters of social media, it wasn’t at all too late to position myself at the forefront of an enormous trend.
I had previously experienced and benefited to a small degree from online social networking and social networking sites such as Ryze and Direct Matches, but the Time Magazine article opened my eyes to a world of possibilities bigger than I had imagined. I made a decision in January 2007 after reading the Time article to master social media and to see where that mastery would lead me.
Online Social Networking
Rather than master all social media concurrently, I elected to focus on social networking and to develop a first version of my online social networking strategy. These early conclusions I based on my observations at MySpace, Direct Matches and Yuwie, social networking sites that I have since largely abandoned.
By September 2007 I was contemplating my next step.
Blogging and Search Engine Optimization
At MySpace and Yuwie I experimented with blogging. The next step for me was to start an independent blog, and I chose Wordpress.org as my blogging platform in connection with my web hosting at Go Daddy.
Before launching my Online Social Networking blog I spent a couple of months reading about blogging and SEO and a short time conducting keyword research. The time I had invested reading and researching paid off, because it got me started on the right foot. Keyword research had joined online social networking to become an important area of competence.
I began blogging in November 2007 and devoted a year to learning how to write, promote and optimize my online publication. By October 2008 I no longer viewed myself as a novice at blogging.
At present Online Social Networking has more than 350 Feedburner subscribers, receives more than 2,000 search visits per month, and is ranked in the top 100,000 websites by Alexa.
Ning Social Networking Sites and Twitter
First Ning social networks and then Twitter captured my attention. These two social media platforms are very powerful and are both growing rapidly in popularity.
Just as I had done with online social networking strategy, search engine optimization and blogging, I set out to master Ning and then Twitter, writing articles on each that have since been read many times and featured by top new sites.
I created two Ning social networking sites:
- Outside the Box is a companion site to my blog where members can network with each other, present their own ideas and brand themselves. Outside the Box has 265 members.
- Let’s Follow Each Other is a companion site to Twitter where members can network, make new friends and share ideas. They can also promote themselves and their other social networking sites. After only three days Lets’ Follow Each Other already has its first 146 members.
My @larrybrauner profile on Twitter has more than 20,000 followers, and thousands of Twitter members have explored my blog.
“One Bite at a Time” Works
The key to my progress is internal motivation coupled with focus.
Rather than go off in many directions and spread myself too thin, I apply the 80/20 Rule taking a bite at a time out of the social media giant. This strategy has worked well for me and can work for others.
What’s my next bite?
Stay tuned, but Facebook is at the top of my social marketing list, and along the way, I’m building my personal brand, helping a few clients, and looking for more clients.
Like this article? Please subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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Dec
14
Online Social Networking Losing Its Edge?
Filed Under Networking and Marketing Strategy, News, Social Media and Social Networking Sites | 28 Comments
On a My Private Classroom private member conference call last week Diane Hochman reported a major downturn in the effectiveness of social media sites.
Diane pointed to social networking sites such as Facebook, micro-blogging sites such as Twitter and video sharing sites such as YouTube, but she inferred that all online social media were losing their edge.
Diane expressed concern that while top Web 2.0 and Internet marketing players like Mike Dillard and Frank Kern had successfully carved out huge niches and were earning millions, lower echelon marketers are hard pressed to compete with them, with the technical automate-everything gurus, and with the ever increasing online clutter of spammers and hackers.
Diane even went as far as to recommend that we focus on offline marketing.
I agree to some extent with Diane’s assessment. Certainly with most of the “low hanging fruit” gone and with the global recession in full force, a social marketing approach based on
- free information and training
- funded proposals
- back end upsell
- strong prospecting posture
- amassing and leveraging a large quantity of Facebook friends, Twitter followers, and YouTube videos
might not work as well as it did in the past and is probably not the best way to go. People are ultra-careful today about parting with money.
However, I do not believe than social media marketing is losing its edge.
Going forward social marketing will depend more upon investing long term in our relationships with the people we meet through online social networking and creative use of websites and a variety of social media.
We’ll adopt a go-giver posture, thinking about solving problems and giving more than we take, as much as we think about prospecting and the bottom line.
We’ll also rely on written content and SEO as much as we rely on social media and online social networking strategy.
And, just as Diane Hochman recommends, we’ll network and market offline too. We’ll get more personal with people.
We’ll be all around networkers and marketers… and fine compassionate human beings.
Like this article? Please subscribe to my RSS feed or by e-mail. Let’s get acquainted too at my About and Connect pages.
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Oct
5
Keywords Demystified
Filed Under Search Engines | 13 Comments
Needle in a Haystack?
There are millions of websites and billions of words of information on the Internet. You would think that finding anything would be like looking for a needle in a proverbial haystack.
Fortunately some of the savviest entrepreneurs have hired some of the smartest geeks to write some of the coolest computer programs ever written that allow us to find just about anything out there on the World Wide Web. These programs I refer to are what you and I call search engines.
The most popular search engines today are Google, MSN Live, Yahoo! and AOL. While Google is the most popular, each of the others has plenty of loyal users too.
The search engines travel throughout the Web reading web pages and saving information about these pages for future reference, a process called indexing. When a page has been visited and stored away, we say that the web page has been indexed.
What are Keywords?
When we want to find something online, we bring up our favorite search engine and type some words into its search box. These words which closely relate to the information we want are called search terms or keywords.
We enter keywords, and the search engine responds with pages of results called search engine result pages – SERPs for short – that it retrieves from its index files.
If we are happy with the results, fine. Otherwise we try entering a different keyword combination, or we change the order of the search terms and try again.
Every Search Engine Must Do This
A good search engine is one that consistently finds us the web pages that are the most relevant to our search based on our chosen keywords.
The top priority of a search engine must be to retrieve and return to us the most relevant and helpful web pages. If it doesn’t, then we’ll look to a competitor’s search engine instead.
Search engines always focus on satisfying users, not website owners and not even paying advertisers.
Crime and Punishment
Website owners sometimes try to deceive search engines by stuffing keywords into their web pages completely out of context. They hope thereby to drive their pages up to the top of the search results.
This tactic, a form of spam called spamdexing because it spams the indexing process, once fooled search engines, but that is no longer the case.
Spamdexing can be spotted by sophisticated search engine algorithms and punished appropriately. A site might even be delisted altogether.
Once this happens it could be a long time before the site re-establishes its credibility and regains its standing.
Golden Rule of Web Design
Create your web site content with your visitors in mind. Your visitors and search engines will react favorably, and everybody will win in the long run.
With keyword research you can find the optimal keywords to use in your web pages, words or phrases that many people are searching for, but not so many that the competition for those keywords will be too fierce.
There are keywords that people use when they are doing research and there are ones that they use when they’re ready to buy.
Keyword selection is both an art and a science. There’s much room for creativity.
However, whatever keywords you select to use in your web page, keep this in mind:
Somebody will read what you write, so always be sure that what you write is worth reading.
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Aug
7
Top 10 Blogging Success Factors
Filed Under Best of 2008, Blogging, Outside the Box, Search Engines, Social Media and Social Networking Sites | 12 Comments
Nearly every day I hear from people who want to know how to start a blog or how to have a more successful blog.
I admit that I’m still learning myself, but I’ve made great progress in the nine months since I started blogging.
This past month alone my Online Social Networking blog received 5,202 visits including 1,993 visits from search engines.
My Google PageRank is up to 3, and my Alexa traffic rank is 181,032. These stats put my blog in the top 1% of all websites.
What are the critical success factors contributing to my rapid progress?
My Personal Blog Philosophy
There are ten success strategies that shape my blog philosophy.
- Blogging Mindset - Writing and publishing a successful blog is a major project that requires very big commitment. Blogging requires that you move forward at all times. So often people start blogging and give up. They didn’t have the blogging mindset, and they weren’t willing to do what successful bloggers do.
- Research and Planning - Before I wrote one word on my blog, before I decided what to call my blog, before I purchased a domain name for my blog, I did plenty of research. Where should my blog be hosted? What platform should it run on? What will I write about, and which keywords will I optimize for? These questions and more were addressed up front and their answers formed my initial plan of action.
- Bias for Action - Getting started and keeping your momentum going is essential if you want to have a successful blog. While adequate preparation is important, a time comes when you must “draw a line in the sand”, stop preparing and begin writing. Your ongoing research and writing need to become routine. Don’t worry if your articles aren’t perfect. You can edit your posts after publishing them, and it could even help with the search engines to do so.
- Experimentation and Tracking - Every blogging enterprise is different, and you’ll need to find the mix of strategies and tactics that are right for your blog. If you install Google Analytics, you’ll be able to track your blog’s traffic. You’ll know what is working and what’s not. Materminding with friends and mentors is another way to gain valuable insights.
- Correction as Needed - When you discover something that’s not working, you’ll look to refine it or replace it. Ongoing tracking will provide you with the feedback you need to make the necessary correction in your direction to stay on course.
- High Quality Content - Quality content to me means writing with both the reader and the search engines in mind. It means writing well, revising the text many times, proofreading, etc. It also means choosing topics that will make readers want to return to your blog. Please don’t write long run-on paragraphs. Make it easy for your reader to go through your article on the screen without having to print it out… Because they won’t. And one more thing, until you have tons of visitors reading your blog every day, don’t even consider cluttering it up with cheesy ads.
- Online Social Networking - The best way to find readers and subscribers for your blog is at social networking sites. For this purpose you can use most business networking sites or networking sites that cater to bloggers such as Entrecard and MyBlogLog. I happen to prefer Twitter and the Ning family of social networking sites. Carefully inviting site members to visit your blog is a nice way to reach out to them — not at all spammy. Make it easy for your readers to subscribe. My readers have two ways to opt in RSS Feed and autoresponder.
- Search Engine Optimization - Treat every blog post as a website that will one day stand on its own, because it will. It will eventually works it’s way down and off your blog’s cover page. Use keyword research to find the best words and phrases to use in your articles. Make sure that your main search terms are neither too general nor too competitive to earn you good placement in the search engines. Don’t limit yourself to using only your primary keywords in your text. Using all relevant search terms, even the ones that are hard to compete for, will turn you article into a search engine magnet.
- Social Bookmarking - Using social media sites such as Digg and del.icio.us to anchor and promote your blog posts is very important. Social Marker will help you find more bookmarking sites and facilitate the bookmarking process. Be sure to familiarize yourself with the terms of service of each of the social media sites you use, so that you don’t get banned. Bookmark articles using their individual URL, not your blog’s URL, since each article is its own website, not just a part of the blog.
- Patience and Time - Over time your traffic will increase, so will your credibility, and you’ll gain subscribers. Don’t expect much before three months, and give yourself a full year to become a blogging superstar.
For more articles on blogging, blog marketing and SEO see Blog Marketing and SEO Training.
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Aug
3
Social Media Learning Curve
Filed Under Blogging, Communication, Networking and Marketing Strategy, Search Engines, Social Media and Social Networking Sites | 13 Comments
The Case for Social Media Marketing
It is becoming increasingly more difficult and more expensive to reach potential customers using mass media. That’s one reason why so many marketers are turning to Web 2.0 social media marketing.
Not only do marketers want to reduce their advertising expense, they also want to connect more directly with people and learn how to better serve their target market.
Social media marketing is especially attractive to small business owners operating on modest budgets, since most social networking sites and other social media sites are generally free to use.
Steep Learning Curve
They read a story such as Beyond Blogs in the June 2nd issue of Business Week, and they rush off to embrace Web 2.0 social media unprepared for the steep learning curve that lies ahead.
The social media landscape is uncharted and sprawling. Social media sites are vying for your attention, and searching the Internet for advice turns up sharply conflicting recommendations.
Need for Mentor
Clearly you need a mentor, somebody smart and knowledgeable with especially strong communication skills. You should find somebody with whom you feel comfortable, because you’ll definitely be getting to know each other. Picking a mentor is difficult.
Effective Communication #1 Challenge
Once you find your mentor mastering essential social media marketing skills will be difficult. To get fully up to speed might take a year or even longer.
That is the bad news.
In my opinion, the hardest part of social media marketing training is learning effective communication, i.e., to write, speak, listen and persuade well and in a professional manner.
There are certainly plenty of technical challenges to overcome, but by far communication is the chief obstacle new social media marketers face. If you happen to have the right mix of communication skills, you’re way ahead of most newcomers.
Your mentor can teach you personal and business branding, online social networking, blogging, video marketing, social bookmarking, SEO and other important skills. He or she can also critique your communication style, but it will be you who will connect directly with your target market and build vital business relationships.
Get Started Now and Learn as You Go
Now the good news.
You don’t have to master every skill, dot every “i” and cross every “t” before getting started.
Find a good mentor to guide you, jump in and get your feet wet. Learn by doing.
As Mike Litman always says: “You don’t have to get it right, you just have to get it going.”
Your results will serve as feedback to help you to make the necessary corrections along the way… and that is good news.
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Jul
8
My Personal Branding Strategy
Filed Under Best of 2008, Blogging, Career Choices, Networking and Marketing Strategy | 15 Comments
I cannot be everything to everybody.
I know I can’t.
I realized that a long time ago. I’ve learned to choose who I want to be to the people who matter most to me.
Business Analysis Example
I’m a business analyst. There are lots of business analysts in the world, but how many of them specialize in marketing and customer analysis like I do? Very few indeed.
And how many rely as heavily on intuition and instinct as I do? Even fewer.
Looking for somebody to do your P&L analyses? Not me. Go talk to a finance type. There are tons of them with MBA degrees waiting to hear from you.
Want to assess a takeover target? Again, not me. Go find somebody who’s into merger and acquisitions to help.
Need to track your marketing or determine how much your customers are worth? Now that is me. Give me a call, and I’ll talk your head off for hours about customer acquisition and customer retention, because that’s definitely my thing.
Network Marketing Example
I admit it. I’m also a network marketer.
I have lots of expertise in online social networking at social networking sites, blog marketing and search engine optimization. I was networking online way before it was cool, and I’m continuously sharpening my blogging and SEO skills.
Do I know the three foot rule? Of course I do, but so does everybody else in the network marketing business.
Can I make a list of family, friends and acquaintances? You bet I can — I’ve done it more than once — but is there one successful networker who can’t?
On the other hand, how many network marketers are Internet savvy? How many of them prospect and network online and enjoy it as I do?
Breaking Away from the Pack
I like to learn from teachers such as Diane Hochman and Mike Dillard, because they too have broken away from the pack. As Diane often says, “When people are zigging, you have to zag.” She’s a lady I want to get to know much better. That’s a big reason why I joined My Private Classroom.
By the way, if you would like to develop strong social networking, social marketing and personal branding skills, read My Private Classroom Opens to Public.
Blogging Example
A reader recently complained that my articles were neither timely nor did they provide information she couldn’t have found elsewhere online.
I basically told her that intelligent and thought-provoking were more important to me than timely. Here too I’ve chosen a focus that works for me.
My Personal Brand Management Approach
The point of this post is that I’ve narrowed my focus, so that I could escape the crowds and stand out more readily. I’ve defined my market, so that I can dominate it.
I prefer to be a leader in my carefully selected fields rather than an also-ran in larger more broadly defined competitive categories.
Avis might have been #2 in the car rental industry, but when they said, “we try harder”, they re-positioned themselves as #1 in car rental customer service.
Redefine Your Market
Do you sell mortgages? Travel? Nutritional products?
Here’s some food for thought. How can you position yourself so that people will see you and think of you as a leader in your market and remember you when they are ready to buy?
Don’t miss any posts. Register, it’s easy, or subscribe to my RSS feed! You can also subscribe by e-mail.
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Jun
22
Critical Success Factors
Filed Under Best of 2008, Outside the Box, Personal Development and Success | 6 Comments
This post is somewhat longer than usual. Sorry for that, but I put a lot of work into it. I hope you like it.
Last Wednesday during my regular bi-weekly business mentoring tele-conference I revealed several powerful business success secrets.
While I was specifically addressing entrepreneurs, small business owners and sales professionals, these principles apply to all people and to all areas of our lives, not only business success.
Have you noticed? The year 2008 is half over.
Near the end of 2007 I posted Personal Development: 10 Simple Success Strategies to “help turbo charge your personal development in the New Year”. This may be worth re-reading if some of your goals and objectives have lost much of their earlier inertia.
Commitment
What are you committed to?
Mike Hernacki in The Ultimate Secret to Getting Absolutely Everything You Want wrote:
“In order to accomplish something, you must know what you want and be willing to do whatever it takes to accomplish it.”
It sounds too simple, doesn’t it? However, it is your intention and commitment that set The Law of Attraction into motion on your behalf.
Want proof?
Reflect back on your most important accomplishments, such as raising a child, getting a college degree, running a marathon, starting a business, or developing an Internet presence, and you’ll agree that your commitment to your success was absolute.
It wasn’t that you felt obligated. Rather you felt that the goal was extremely important to you, and that you would deal with any obstacle that might arise — without knowing in advance exactly what would be demanded of you on your way to success.
Without total commitment The Law of Attraction would have probably delivered an obstacle that you would not have been willing to handle, and you would have failed.
This success secret is so important that I’ve read Mike Hernacki’s timeless book about a dozen times over the past decade.
Acquiring New Skills
I am commited to ongoing personal development and acquisition of new knowledge and skills. I read mind expanding books, blogs and e-books.
Your objective may require the mastery of new skills – or it may not. Your willingness to do what it takes is what really matters. If new skills are required, then you must be ready and willing to learn them.
Working Hard
You may be required to apply a great amount of effort. When I wanted to run the New York Marathon in 1984, strenuous preparation was absolutely necessary. In 1985 that was still true but to a lesser extent, since I had maintained a high level of fitness in the interim.
Tenacity and Persistence
Let’s bring this home.
You want to develop a presence at one of your favorite social networking sites – or you want to write a blog – or you want to build an Internet presence. These objectives usually require a high degree of tenacity.
So often people abandon online social networking, blogging or social media optimization without realizing their objectives. They weren’t willing to persist. Perhaps their belief system was weak.
I have been social networking online for many years. I have continuously posted to this blog for nearly eight months.
Why?
I know what I want, and I’m willing to persist until I achieve it.
Belief
As I stated in Personal Development: The Law of Belief, “Our motivation and how we act is determined by our underlying beliefs.
“If we don’t believe that something is possible, we won’t even try to make it happen. Please listen to a conference call I recorded on 8/22/07 that illustrates this concept.”
A healthy belief system is critical to success in business and life.
Treat Your Business Like a Business
Production
Showing up counts for something, but it doesn’t count for enough.
Success in business and life depends on producing value either directly or indirectly through people you influence.
If you have a job and don’t produce, you won’t get very far, and sooner or later you won’t have a job.
If you have a business and don’t produce, you won’t have money in the bank.
If you don’t come through for people, you won’t have their friendship.
You must make a positive contribution in order to be successful.
One way to ensure that you’re productive is to set daily or weekly goals or benchmarks.
For example, let’s suppose you’re in sales. You need to make six product sales per month to meet your business objectives. In order to make six sales, you need to make 15 presentations. To get 15 appointments, you’ll need to speak to 60 people.
You work about 20 days per month. On average you will have to speak to three people per day in order to speak to 60 per month.
Your benchmark or goal becomes three a day. If you focus on 3+ per day with consistency, you will likely make your six product sales per month.
You’ve succeeded at breaking down your abstract monthly goal into concrete daily actions.
Diversification
Big corporations employ a wide variety of media and messages to bring their product to market. They advertise on television, radio, in print and through direct mail. They experiment with many versions of their ad copy.
You cannot do everything a giant company can do, but why not learn from their example?
If you use half a dozen methods to reach out to your potential clients, you’ll enjoy these benefits:
- You’ll achieve success with some approaches, even if others fail.
- You’ll attract a wider variety of clients than using a single method.
- You’ll be able to see which methods perform better relative to each other, so that you can refine your marketing plan.
- You’ll lower your overall risk through diversification.
Here are some of my favorite marketing channels:
- Online social networking at social networking sites
- Offline business networking at a business networking group such as Network Plus, facilitated by Ted Fattoross, the group’s founder
- My Online Social Networking blog that you’re reading right now coupled with keyword research and search engine optimization
- Social media sites and social bookmarking sites
- Classified advertising in small weekly newspapers
Over time you’ll develop your own favorite marketing channels if you haven’t already done so.
Tracking and Analysis
If you want to make informed business decisions, you must track your results and analyze your data. If you can’t do it yourself, then you must get an expert to do it for you or show you how to do it.
Tracking and analysis are not something optional.
Let me ask you, would you even consider driving your car with your eyes shut?
You can’t afford to run your business with your eyes shut or even partially covered.
Cost per Acquisition
One of the most basic marketing measurements is cost per acquisition, the amount that you’re spending on average to complete a sale using each marketing method. Simply put, it’s the total spend divided by the total number of sales.
It is important to consider your staff costs including your own time, not just the out-of-pocket expenditures for design and media.
Cost per acquisition is an excellent way to compare marketing channels, but there is one very important caveat. Customers from one marketing channel may be more valuable than from another. Therefore marketers must take into account customer long term value, the other side of the equation.
Customer Long Term Value
Customer long term value can be difficult to calculate, but it is generally approximated as the income you expect to earn from a customer over a 12 to 24 month period. If your business is on the risky side, lean towards 12 months. If it is very stable, then 24 months may be appropriate.
To be successful, cost per acquisition cannot exceed customer long term value. It ought to be less.
Trend Data
You can also track your performance or the performance of your staff. Trending performance data and marketing data over time will help you see the bigger picture.
Masterminding and Mentoring
As stated in my post Even Mentors Need Mentors, “I learn from reading many books, e-books and blogs, and from speaking frequently with friends and mentors. Having mentors has greatly shortened my learning curve.”
Masterminding with your peers and seeking out mentors will help you as much or more than any other single strategy mentioned in this article.
Please feel free to comment and share those strategies that have made the biggest difference in your business and personal endeavors.
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