Detroit NewMe Community Meetup

Detroit NewMe Community

Last night, I had the distinct honor and pleasure to be in the company of some very talented and intelligent individuals, via the Detroit NewMe Community Meetup group, at TechTown Detroit. I was instantly inspired by the accomplishments, struggles and general dynamism of the group. I’m looking forward to continuing a prosperous relationship with all who are able and willing to make worthwhile contributions. The cause is just. As in many industries, tech is dominated by a few, and the startup world, especially. This group is working toward breaking down the knowledge barrier between often disenfranchised communities and the at-large startup tech industry.

On this particular night Hajj Flemings, an inspiration to many young blacks aspiring toward tech greatness, spoke about the high level strategies involved in developing a startup pitch slide deck.This gentlemen is a contributor to BE.com, founder of Brand Camp University and co-founder of the startup gokit.me He broke down the various necessary sections to include in such a deck, and even expounded on some of the elements that makes those sections capture the attention of a potential investor. Those sections are:

  1. General Business Info and Company Name
  2. Define the Problem
  3. Discuss the Solution Your Company Offers
  4. Market Size
  5. Business Model
  6. User Acquisition Strategy
  7. Competitive Advantage
  8. The Ask
  9. The Team
  10. Contact Page

Additionally, we heard from James Norman, the CEO of Ubi, the next Detroit startup accepted to the NewMe Accelerator, in the second year of its existence. I just signed up for the service but was quite impressed with what I heard from the Founder and CEO on this evening.

I’m looking forward to learning, sharing and contributing more with this group of individuals as there was a plethora of talent in the room. I am excited to offer regular updates about the traction of my own, and all the startups represented here. If interested, feel free to contact me or hit the website to join. We’re open to include more like minded individuals to create a robust support group to benefit all of the aspirational goals of the people in this area and to grow the tech business landscape in Michigan.

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3 Reasons Your Slogan is Terrible

BMW gave us The Ultimate Driving Machine. Bounty is the Quicker Picker-upper. Meanwhile, companies like McDonald’s have had innumerable  slogans, from I’m Lovin’ It to Put a Smile on. These slogans are memorable because they tell the value proposition of the brand, underscore the company’s mission and speaks these things clearly. If your slogan doesn’t accomplish the preceding then your slogan is terrible. [Read more…]

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Controlling the Message

A New Media Manifesto

Alright, it’s not so much a manifesto as it is best practices. Manifesto just sounds so much better. The point that businesses need to control their message has been misconstrued as of late, though. On one end, some businesses haven’t resigned to the fact that their messaging is less powerful than the recommendations of others. On the other end is businesses that can answer every message and engage heavily in every forum, but forget that the internet isn’t the only place they interact with consumers. [Read more…]

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3 CRM Tricks to Build Loyalty

Statistics show it takes 60% more effort, money, time, et al to create a new customer. It’s like making a new friend. You have to figure out what you like to do together and whether or not they’ll be dependable. You have to put in some serious effort to let them know that you care. Meanwhile, your friendships that you’ve had a while continue to be of great value by  simply proving loyal on a regular basis.  Building a business is the same way. Here are some ways that you can utilize a friendship strategy with your customers.

Invite them over for special events

What better way to enjoy the company of your friends and inspire loyalty than to host them? When I say host, I mean provide something at your place that allows them to socialize and enjoy the fact that you’re all connected. Business people would say provide some added value. You never know what kind of value one can derive from a small investment, so invest in the people that support you! In only makes logical sense.

To do this, you’ll have to put processes in place that allow you to track who is regularly visiting and purchasing. Try opt-in email and mobile strategies like rewards programs. Give customers the option to sign up in-store or online. I like Place Pop as a mobile and web loyalty/rewards application program. It provide great flexibility and convenience for the business and the customer.

Offer suggestions that will be useful

Ever see something and immediately think of a friend that something would “be perfect for”? I love cigars, and recently had a friend send me a text message about Romeo y Julieta’s on sale at the JR Cigar near my job. I was so thankful, that I’m sure to hook him up with a “stick” when I see him next.

Since you’re capturing purchases, utilize that information to make suggestions or let all purchasers of a certain product know when it goes on sale. The loyalty that can be created by this simple act can be more valuable than waterproof boots in a snowstorm.

Ask Customer Opinion

People have always utilized their friends for advice – from love and relationships to companies and products. Why not leverage this bonding experience based upon the art of pontification, to make a friend out of your customers? Plus, who doesn’t  love to be on the inside? So, pull your customers in to the proverbial fold, or circle of trust if you will, by seeking advice about how to make their experience better. You might shock them into becoming extraordinarily loyal, and that’s all we want.

Adversarial relationships rarely work, so create some loyalty by forming friendly relationships with your best customers by using the help of a customer relationship management tool. Your customers will thank you, and so will your margins.



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The Lords of Strategy

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Direct-Response Digital

Every now and then, we hear at the Hand-Raiser Marketing offices get our dander up about something. Right now, I’m feeling like direct response has gotten a bad rap online. I’m going on a mission to either dispel or prove the theory that brand building isn’t the only type of advertising that is accepted in digital – by the average consumer. I believe this is a bunch of hippie crap but I will dive deep into the archives to see if my postulation is truth or misguided marketry.

Why do we think mobile has taken off so much? Well, because there have been spikes in purchases when direct-response ads are sent to mobile phones. When the proper display ad pops up on the webpage of the browser, clicks, learning and purchases magically appear like marketing rainbows of moments after the storm goodness. Yes, in my humble opinion, direct-response works. I’m not willing to see it mischaracterized by marketing miscreants looking to further the cause of their fluffy rhetoric or offline dinosaur-ness.

Furthermore, I have a beef with the fact that rarely do we (myself included) give the growth of digital (period) to the success of direct-response. Direct-response finds its ultimate mate in digital. The interactivity and engagement that can be coupled with a call to action can be wildly beneficial for brands. In fact, even Media Post released a blog touting that direct-response moves the needle for brands. And in a world where we’re searching for the next innovation to help digital make the huge ad spend leap that should have already happened, why wouldn’t we look to the one thing that businesses love to see…sales increases. Direct-response offers this and in a measurable way in the digital space.

Before I go to do some research, I must mention that the whole point of permission marketing is to get call to action and immediate purchase driving messages to the people that have indicated a willingness to hear that from you. Sure, building communities is great and necessary for long-term value but short term relevancy is derived from the idea that effects are to causes what “oh no she didn’t” statements are to unflattering clothing.

I like to cause things to happen. I’m like a toddler in that way – hit the pot and hear a sound. That is all. I shall return. In the meantime, if you have any research on the subject at hand, feel free to turn it over to the Hand-Raiser team for analysis.

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Facebook Fans

Facebook ValueIf you regularly check the tech blogosphere, then you’ll notice that there has been an increased focus on the value of Facebook Fans to businesses. The catalyst to much of this discussion is a report from Syncapse, entitled “Value of a Facebook Fan.” I’m intrigued by the dollar value study of a tool that should be used mainly for PR purposes, so I delved into the 18 page report and scrutinized it for you.

The fundamental question is, whether any of this information can help change behavior to increase profits or brand affinity scores through Facebook efforts. Here are my thoughts:

Product Spending
Syncapse noted that, on average, Facebook Fans spend $71.84 more than Non-Fans, annually. It is also true that the value difference is highly variant – depending on the brand – from a few thousand dollars to zero. Having a knowledge of this stat for your brand can be important in understanding purchase behavior of hand raisers in general, more than Facebook Fans in particular.

Brand Loyalty
Facebook Fans average a 28% higher likelihood to continue using brands they Fan. This is not surprising, and can probably be tied more to brand/product health than the value of a Fan. While the act of Liking, Friending, and Fanning are low impact, the effect on your News Feed (Facebook’s Real-Time updates) can be great – annoying even. Therefore, people that Fan a brand must be doing so for one of two reasons. First, they want to receive discounts and specials. Second, they want to stay informed on the happenings of your brand. Neither of those delineate much about the dollar value of that fan.

Propensity to Recommend
This I believe to be the most important online statistic when discussing brand performance and Fan valuation. Syncapse found that Fans were 41% more likely to recommend brands they “Liked” to their network than non-fans. Matched with a study from Econsultancy last July, that stated “90% of people online trust recommendations from people they know; 70% trust opinions of unknown users,” indicates a higher dollar value of a Fan.

When I think of my own behavior online, I realize that whenever I’m unsure of product or brand differences, I bring it to my network and almost blindly take the most popular advice from subject matter experts. Therefore, it is obvious that it is very important to build a well informed fan base, if you’re hoping to use Facebook for market penetration.

Brand Affinity
Syncapse found that 89% of Fans felt positive feelings toward the brand, compared with 49% of non-fans. This stat may explain the higher likelihood of repeat purchases and propensity to recommend. Obviously, depending on your business, this qualitative measurement can vary quite a bit but also may only indicate a predisposition to the brand due to the fact that they’ve already stated their “Like” of your brand through the simple act of becoming a fan.

I feel as though this report served to put some substantive numbers behind assumptive estimations rather than any actionable dollar value analysis. I did learn that I have an opportunity to greatly increase my evangelists, which can lead to greater sales and increased revenue. So, the most important thing to do with a Fan Page could be to increase your Fans’ knowledge about your brand so that they can become your best salespeople. Plus, they can help you become more transparent and liked (in the general sense) which means only positive in the important world of online recommendations.

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IMC: Put Together

Like any good outfit (as John Witherspoon saying, “Cooo-rdinate” in ‘Boomerang’ leaps in my head) an Integrated Marketing Communications (IMC) Campaign should be a coordinated effort to use the variant business communication tools to further one big message. Regardless of whether or not your brown belt is your favorite, you likely don’t want to wear it with your red shirt and black shoes. That is NOT put together.  There are some actions you can take to make sure that your IMC campaign is cohesive.

First, you have to establish a big idea. The big idea encapsulates your total message in a few simple words or phrases. You should be able to use this to start your elevator pitch, but it is not necessary to have it in your communications (it is not your slogan). For instance if I run a basketball team on the verge of greatness, my big idea could be “We will work harder than ever to win a championship.” A good logo to back that up might be, “Champions work harder.” The preceding works as a big idea because it is distinctive, relevant, unifying, memorable, and can be easily translated into sales – all of the necessary elements of an effective big idea.

In-game promos could include hard hats with the team logo & slogan with the word, “win” scribed on the back. This supports the big idea with the word win, and the slogan by applying the hard hat prop. The team website could be marked with construction tape, reading “Caution: Construction Area” in the team colors. Instead of having a stats page, it could be changed to a “Performance Evaluations” page. The ideas are nearly endless on the website.

Local television promos could show the guys in overalls carrying pick axes punching time clocks under the basket with the star of the team saying, “it’s time to go to work.” Then, a cut to a montage of the team running drills and dunking could ensue. Or, maybe a bunch of hustle plays with guys hitting the deck and scrapping for the ball might also work as an ending montage.

The sales people that year would sell “office badges” instead of tickets. Corporate ticket packages could be called “offsite meeting tickets.” Finally the pitch for all this might sound something like, “This year the (Basketball Team Here) plans to show you the benefit of hard work, and the product they’ll deliver this season will be our best effort yet. Don’t miss out on a great season that will be the result of aggressive work toward our championship goal. Which ticket package can I get you?”

The direct mail campaign might visually resemble an internal company memo that looks like a prospectus that shows the stock of the company (team) based off of the increased production of effort and the call to action would ask for a “stock purchase” through the advent of buying tickets. The direct email will match this message exactly, for increased cohesiveness.

The social campaign would be a great place to get engagement and connect the team to the fans by asking for submissions of people wearing their team gear at work. Maybe the coolest pic or video gets four free tickets. The blog might work as a daily journal of how much effort and sweat equity goes into training camp. The twitter stream would have to directly engage fans by conversing with them about team updates and the fans’ jobs/careers.

Finally the stadium (or service-scape) could have the road construction barrels in the team colors in the hallways, signs that reads “Team at work,” and the large concessions stand cups could look like coffee mugs.

Now, this team has a cohesive integrated marketing communications campaign that can be applied to any other form of communication they send out also. The difficulty is in matching the big idea to every message and medium. If you do you will have a consistent message that creates a feeling that is unmistakable in its affect regardless of medium, while naturally promoting engagement around that centerpiece – kind of like a cool shirt sets the tone for the rest of the outfit.

Now go be brilliant in the creation of your IMC campaigns!

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Podcasting?

Recently, I was lucky enough to be able to speak about my views on “The Value Equation” for businesses in digital marketing. I had never done a podcast before, but found that I really enjoyed being a part of it. In the podcast, on Portage Digital Media, we discussed the changes on Facebook, matching messages to an emotional connection, and the pitfalls of the “freemium” model. Central to the conversation was, “why do people pay me money for what I’m doing”?

I don’t know if this will become a regular thing, but I hope people will check it out because there is some great value interspersed with fun and jokes. David Lingholm and Jeremiah Staes of Portage are some smart guys that get it, when it comes to making money and communicating value properly.

Please check it out and tell us what you think. I truly hope you enjoy. And as always, be brilliant.

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Measuring Cost Per Lead

The Case for Inbound Marketing

Convention tells us that trade shows, cold calling and direct mail will elicit results. Truth is, they do and have for quite a while.  The problem is we rarely measure the cost per lead and conversion of those activities. There are no financial or accounting tricks to doing so, but the regular blocking and tackling fundamentals sometimes fall through (as one of my former coaches used to say). [Read more…]

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