RIP Cold Calling; Survived by Social Networking

LinkedIn Question:

Which is more productive in generating new sales: 8 hours of cold calling 8 hours of social networking

My LinkedIn Answer:

RIP Cold Calling

Cold calling has been served notice, a new era beckons and with it an altogether different way of working. Social networking has arrived and will soon replace cold calling as the predominant method of prospecting in business.

I know many people will think that there is no replacement for activity, specifically picking up the phone. Yet, no matter how intelligent you are about cold calling, it is what it is – speculative, scatter gun selling, not to mention costly and increasingly ineffective.

Consider the following data I found online...

In a test which spent an equal amount of time cold calling and using social media (9 AM - 5:30 PM; M - F).

Cold Calling Results

Outbound calls made 325
Meaningful conversations (pitches) and brand touches 80
Meetings made 4Sales made (as a direct result of cold calling) 0

These are average conversion ratios for time spent but it comes with much overhead.

Social Media Results

Inbound calls generated 8
Meetings as result of inbound calls 3
Sales as a result of inbound calls 2
Brand touches (from site statistics unique views of content) 422
Visitors to sales associate's blog Subscribers (RSS) to sales associate's content 27
People following sales associate's Twitter 12
New contacts 71 (on LinkedIn, Facebook, WeCanDo.BIZ, etc)
Listeners to sales associate's Podcast 83
Opportunities to sell found 21
Online conversations had 39
Warm call list (names generated expecting a call) 11

The cost of the social networking blitz to find new business opportunities, other than time and internet connection are small, if anything at all. Most importantly 2 sales were closed, covering any cost associated with the activity and generating a very healthy return.

The central question, however, is do modern-day sales people have the level of skill required to conduct a social media campaign individually? The simple answer is no. Not all salespeople will have the necessary skills, but having a skills gap is nothing new on the sales floor otherwise we wouldn’t have the multi-million pound training industry!

Can the skills be taught quickly and cost effectively? Yes. I have always taught people that sales is a process: follow steps one through five to achieve your aims. Social media networking can be processed as well, giving salespeople clear guidelines on the ‘how to’ and ‘how not to’. We spend millions every year teaching salespeople to cold call better, use the latest CRM (customer relationship management) system, be better team players and so on; and so it must come to pass that companies will need to train all staff to be ‘social media savvy’ as it extends far beyond just sales – marketing and service need to be in on the picture as well.

Naysayers?... Agreed, updating your Facebook or MySpace page with pictures of the weekend, playing silly games, nudging or poking other people is not the best use of your company’s time. But creating engaging, thought-provoking, discussion-opening content, centred around your products or services is.

Social media networking will reduce dependence on cold calling. I am not saying it will eradicate the need for the telephone – that perhaps is to bold an idea. But I am certain it will become the first step in prospecting for new business.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume2009

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

What To Do First When You Get Laid Off

Well, the axe has finally fallen my way. I had a good run considering market conditions surrounding my industry and role.

What to do first when you get laid off?

The top seven steps are: exit gracefully; secure whatever additional pay and benefits you can; apply for unemployment; get health coverage if possible; get real about your expenses; roll over your 401(k); and start your search.

1. Exit gracefully. Your old boss might become the link to a new job and at the very least can be a great reference by providing a letter of recommendation.
2. Secure whatever you can. It depends on your level in the company, but try for an extension of your salary, health benefits or life insurance benefits; a positive letter of recommendation from your supervisor, use of your office for a a period to search for another position or use of an outplacement firm; even your laptop or other equipment that will help you get a new job. (If you get severance, take advantage of the health benefits – get physicals, dental checkups, fill prescriptions.)
3. Apply for unemployment immediately. Typically, you can still collect unemployment even if you receive a severance, and if you take a part-time job while you are looking for a new position, you may be eligible for partial benefits. Regular benefits are paid for 26 weeks in most states and some will extend that under certain circumstances.
4. Protect your health benefits. Enroll in Cobra if your employer is required to have it. (Companies with 18 or fewer employees are not.) Complete the forms to continue your health insurance; you’ll have to pay a monthly fee, but it’s worth it — don’t leave a gap in your coverage. If you can’t get insurance through your company, call a health insurance broker and see what plans you can qualify for.
5. Get real about your expenses immediately. You have to know what you are spending monthly so you know where you can cut costs to avoid getting into debt while you’re laid off. Search “track your spending” on this site to get tips on how to control your costs.
6. Roll over your 401(k) plan directly to an individual retirement account. Do not cash it out, or take a check from the company with the intention of opening an IRA. You have a limited time to get it into that new account or the government will consider it a withdrawal and if you’re under 59-1/2 you’ll pay a 10 percent penalty, and no matter what your age you’ll pay income tax. Sadly, 80 percent of people with $10,000 or less in a 401(k) cash it out when they leave the job – but in reality, after taxes and penalties, that $10,000 is closer to $6,000 if you’re in the 28 percent tax bracket. Go to the websites of Fidelity, Vanguard, Schwab or T. Rowe Price, where you can find the forms that allow you to roll the money over directly.
7. Start your search. Take one or two days to regroup, and then schedule at least 3 to 6 hours a day to work on your job search. Refresh your resume and join an online social network if you don’t belong to one. LinkedIn (http://www.linkedin.com/) is a great network for professionals – you basically fill out a form that lists the schools you attended and the companies where you previously worked and the network shows you everyone from those affiliations so you can start networking. Network through whatever other affiliations you have – religious and volunteer organizations, sports clubs, alumni groups, etc. Call headhunters in your industry – don’t assume that they are overwhelmed with people contacting them.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpresume2009

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Tony Hsieh, CEO of Zappos.com, Tweets... Are You Missing The Boat?

LinkedIn Question:

Are you missing the boat?

If you tuned into The Apprentice Sunday, March 8, you would have watched the "boys and girls" come up with a new slogan for Zappos. The CEO of www.zappos.com was the judge and selected the "gals" proposal.

What stunned me, while watching the show, I happened to Tweet @zappos, and got a reply within 3 minutes. What I didn't realize at the time, that it was the CEO Tony Hsieh, sending me a message.

Whats remarkable, here is a CEO of a $1B company, watching with the rest of us, probably his biggest marketing exposure (and expense) on national TV and he is on Twitter, tweeting to anyone that sends a message.

How many CEO's of $1B companies do you know, that even know what a Tweet is, actually use it and are using it to their corporate advantage? So are you missing the boat?

My LinkedIn Answer:

I became a fan of The Apprentice early on in the series. As a marketer I found it interesting to see so many promising young professional spread their marketing wings at the many tasks surrounding such high-end brands.

I saw the Zappos.com Celebrity Apprentice episode. I am struggling as a fan of the show with the Celebrity episodes as these individuals are not marketers and it is so painful to watch them fumble through fundamental marketing challenges.

I’ve seen Tony Hsieh, CEO of Zappos.com, featured many times before and find his business plan completely refreshing. It is no doubt that his emphasis on customer service and corporate culture is responsible for his huge success as a brand and, ultimately, their sales growth of 1.6M in 2000 to over $1 billion in 2008. I did find, however, that the show was either edited poorly or the part he played in the “RFP” process was below par. He did not discuss the target consumer at all, rather, broad stroking it; and, although he did mention customer service, I do not feel he placed appropriate emphasis on this core competency given its direct relationship to their success. (Note: I am a loyal Zappos consumer because of their customer service.)

Many companies are looking for guidance with branding on Twitter. To begin with, they need to know how to use Twitter, what it’s all about, who should handle Twitter (marketing sales, PR,) who to follow, etc.

Then to the question: Should the CEO or business owner also have a Twitter profile? This is a great question and one that takes some time and thought. Good social media consultants will tell you that social media marketing requires a strategy – and it’s not necessarily the type of “boiler plate” marketing strategy companies may be used to.

This key question – should the CEO (and other key management) have a Twitter profile needs to be part of the social media strategy.

Tony Hsieh is a highly visible CEO on Twitter right now (his profile is Zappos.com CEO.) This strategy blends the brand. This is definitely a trend we’ll be seeing more of. Tony even posted a Beginner’s Guide that can be helpful to business owners and entrepreneurs:
http://twitter.zappos.com/start

It is important to know that while good personal branding involves self-promotion, there’s more to it. The social media world is all about “Give to Get” and engaging in two-way conversations. The value comes from not what you are doing; rather it comes from what you are thinking and sharing. It is about conversations and building relationships; not hard sell marketing, broadcasting or ego-driven tweets.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

The Loyalists Shall Take You To The Promised Land

LinkedIn Question:

Members pay an annual fee to belong to a retailer's loyalty program and they receive discounts on the retailer's most popular products, invitations to member-only events, and reward vouchers for reaching certain spending levels. What other creative ways can this retailer reward its loyal customers?

My LinkedIn Answer:

Your customers are swimming in messages. And they’re being pursued by countless brands. How can you keep their attention, their time, and their dollar?

Gone are the days of a one-size-fits-all loyalty program. Building a creative campaign that your customers will respond to can only begin once you have a clear understanding of their buying motivations. By using real insights you can cultivate stronger relationships customers so your brand stands out. Ultimately your message motivates action… then your bottom line.

Depending on what inspires your customers craft programs which also meet your internal objectives along with actionable metrics for program refinement. More common loyalty program objectives include:

• Stimulate sales and improve gross margins
• Encourage purchase of new and better/best products
• Establish competitive differentiation
• Motivate employee performance
• Boost retention of high-value customers
• Build stronger long-term relationships
• Drive key behaviors

To understand what your customers truly value, conduct focus groups, one-on-one interviews and quantitative research. From this, determine the core elements needed to create a lasting relationship with your customers.

The mandatory requirements for an effective loyalty program are – Creative Conceptualization, Feasible Program Development, Systematic and Time Bound Program Execution and Measurement.

Here are some proven loyalty concepts which can be customized to your customers buying motives:

• Club Cards (pay for membership for regular discounts, points programs, reward vouchers)
• Email Only Promotions
• Premium Shipping Clubs (for ecommerce)
• Subscriptions (asking customers to go steady and purchase product to be fulfilled at regular intervals)
• Service Extensions
• Recycling Programs
• Loyalty Affiliates
• Gift Reminder Service
• Value Propositions (Not loyalty per se, but extremely successful in customer retainment; think Zappos.com and their exceptional customer service)

Marketers are racing to keep up with customer expectations for personalized services and enhancements, and well-designed loyalty programs are a tremendous opportunity to communicate directly with enticing offers that will keep customers coming back.

"The dogs on Main Street howl

'cause they understand

If I could take one moment into my hands

Mister I ain't a boy, no I'm a man

And I believe in a promised land"

- Bruce Springsteen

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

The Recession and Student Spending Trends

LinkedIn Question:

Has the economy influenced the spending habits of college students?

Marketing managers who target the 18-25 year old demographic, have you altered the way you reach college students? Have you noticed a change in their buying habits or preferences?

My LinkedIn Answer:

Student spending today is basically Generation Y spending.

Born between 1977 and 1994, Generation Y comprises today’s high school and college student markets. The large size of this generation (71 million) makes them a profitable market. One that, as a marketer, you can’t afford to miss.

Student spending differs by whether the student is in high school or college.

Today’s high school students... have more money to spend than any teens to date, 51 percent more than 1995 teenagers. Together they spend an estimated $187 billion a year on:

• clothing
• wireless tech gadgets
• alcoholic beverages
• tobacco
• eating out
• personal appearance
• fun

While still in high school, most students earn close to $100 per week. Plus some have their own credit cards or access to their parents’ cards.

Almost all high school students have their own computers and are online. Any business wanting to reach them must have a well-designed Web site.

Today’s college students... spend more than $100 billion of their own money each year and influence many family purchases.

They have money to spend. More than half of today’s full-time college students work.

They also spend on credit. More than 90 percent of those 21 and older use credit cards. Their average credit card debt is $3,000, and 10 percent owe more than $7,000. They do pay their credit card debts, just a little slower than older generations.

College students buy over the internet, but first they comparison shop on an average of three Web sites.

Together high school and college students have a tremendous effect on the economy.

So Marketers… Target Generation Y!

They like to shop, with the men liking shoping more than men in prior generations.

But they are “notoriously fickle,” demanding the latest trends in record time.

They are immune to hard sell advertisements. They are brand and fashion-conscious, but won’t buy if clerks “get in their face” trying to sell them. The hard sell doesn’t work with them.

They prefer brands with a core identity based on core values. They won’t buy a product just because it’s in the mall. It’s more important to them that a product is recommended by their peers. Word of mouth is the best method of marketing to them.

Today’s students don’t like the status quo and are immune to established brands. They like appeals that reflect their lifestyles more than their outward appearance.

They respond best to humorous and emotional advertising. They like advertisements that show other people like them in real-life situations. They also like innovative music and advertising that centers on their lifestyles.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Building Your Social Media Marketing Plan

LinkedIn Question:

What are the first 3 steps every company needs to take to get involved in Social Media?

My LinkedIn Answer:

While other channels are looking at cutbacks, social media marketing is on a growth path because it's low cost, it's proving to work, and it represents the future of marketing.

Creating a social media marketing plan should depend on your market’s needs and your company’s capabilities and offerings.

In my opinion, your first three steps should be:

1. Clearly identify your target
2. Identify the key issues your target cares about as it relates to your offerings.
   TIP: create a bulleted list with no more than three or four words per item
3. Research which, if any, top bloggers are discussing these issues.
   TIP: User your bulleted list to search.
   The following are good places to start:

• Technorati
• Del.icio.us
• Google Blogsearch
• Ask.com Blogsearch

Inevitably, any substantial subject matter area has a back channel where top bloggers and influencers chat. For example, PR and marketing bloggers tend to connect on Facebook, Twitter, and to some extent, LinkedIn. This back channel can yield powerful connections to highly influential minds who may not have blogs with top statistical ranking.

Marketers looking to find their subject area’s back channel should start with a basic search. Once your initial search yields important blogs, visit them and note which social networks the bloggers use to connect. Join their communities. And learn what your target really cares about.
Don’t just observe, participate. Comment on blogs and social networks in a non-promotional way.

Become part of the community.

Once you take these initial steps, you’re ready to truly define your marketing plan. Begin to note:

1. Top industry issues
2. Top bloggers/thought leaders that write about your issues (you will need these for marketing purposes after your content creation process is done)
3. Preferred content forms (video, white papers, blogs, podcasts)
4. Ideal places to connect with the larger industry (social networks, etc.)
5. Other companies playing in the space: Who’s successful, who isn’t? Why?
6. Behavioral norms.

Write this information down in a formal analysis.

Using the analysis of your social media marketplace, identify the outcomes the organization would like to achieve. These outcomes will determine the measurement benchmarks once the company decides on its preferred communication tools. Possibilities include:

• Influence
• Awareness/changed perception on a particular issue
• Third party credibility through Word of mouth
• Brand awareness
• Return on investment

Identify the company’s value for the marketplace; specifically, the organization’s subject matter expertise as it relates to the top industry issues currently being discussed amongst bloggers and thought leaders.

• Can the company provide enough information to add to the conversation?
• If so, is it enough to consistently be a part of the conversation, or is it limited in nature? Will it only be valuable for a short time?
• Can the organization afford to give away this information or does the information comprise trade secrets?

Based on the company/organization’s value offering and the marketplace’s issues and needs, draft an editorial mission to serve your target.

Now examine the company’s resources:

• Time
• Thought leaders
• Technical capability and savoir faire: Blog, audio, video, social networking
• Financial resources for some of the above, plus graphic design, SEO, web hosting, application development

Select the outreach mechanism(s) that best fits the industry’s preferred content needs, can achieve outcomes the ability to convey the company’s ability to deliver value through its editorial mission, and that the company can afford to invest in.

There are many, many mechanisms. Each has its assets and detriments. And blogging is not a cure all silver bullet solution. Consider these more popular initiatives:

• Launch a blog
• Execute a blogger relations program
• Podcast
• Create video(s)
• Develop social network community
• Create social network application
• Build your own social network
• Build a widget

Determine who will create the content. Group efforts can help distribute load as well as protect the company from an individual departure. Assign a schedule and make the person responsible. Participation in larger networks should be part of your content development plan and resource allocations.

Select general content categories to provide guidance on a weekly basis (if the effort is ongoing). Remain flexible to allow for larger industry and community events.

Determine measurement based on outcomes, social media communication vehicle(s), and dedicated effort the company intends to commit to the effort. Select tools to attain measurement. Tools and measurement can vary greatly. Research what is right for you and your effort. Some are free, some are not.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Top 3 Social Networks

LinkedIn Question:

What are your top 3 favorite social networks?

My LinkedIn Answer:

"A cord of three strands is not easily broken."

That's applicable where social networking is concerned as well. It's a matter of strengthening your social graph. Being networked with a given individual in three different places makes for a strong connection.

More and more business professionals are using social networks to build relationships, meet new contacts, and market themselves. For the uninitiated, however, diving into the virtual meet-and-greet can be daunting. Where to begin?

For first-time users, the answer is LinkedIn (www.linkedin.com). LinkedIn is your business suit. Developed specifically for business, the site doesn’t run the risk of blurring your professional life with your private one; and with more than 25 million users, it serves virtually every industry and profession.

While LinkedIn is not very conversational in its orientation, having a profile there has become expected. LinkedIn lends a degree of professional credibility. It is also the site that requires the least amount of upkeep.

Facebook (www.facebook.com)... that's business casual. Facebook allows more of a 360-degree view of you, combining both professional and personal sides. Plus, it's a more conversational platform.

Twitter (www.twitter.com) is cocktail hour. Think of after hours social networking events and you've got Twitter. It's the most informal of the three and allows for the greatest degree of conversation.

It's not enough that you have a presence on each of these sites, but that you leverage your presence to connect with others who are also present on each. Social media is about being "social." Each platform offers its own distinctive advantages, but it takes all three to build the strongest connection. Plus, it gives you ubiquity. You're everywhere!

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Printed Ads vs Internet ads... What is more effective in Real Estate sales?

LinkedIn Question:

Printed ads vs internet ads... What is more effective in Real Estate sales?

My LinkedIn Answer:

As Marketing Director at a leading New Jersey real estate firm this is a question often posed by my agents. According to the New Jersey Association of Realtors 87% OF POTENTIAL HOME BUYERS BEGIN THEIR SEARCH ONLINE. For that reason it is my firm belief that if you are not online, you are not in the game.

But don't take it from me, let the trends do the talking. Reuters notes that print newspaper ad sales were $42.2 billion in 2007, down from a high of $48.7 billion in 2000. That being said, many home sellers still see newspaper advertising as an essential component of selling a home, but younger brokers, home sellers and buyers are clearly more focused on using the Internet. So your answer? AN INTEGRATED APPROACH.

Yes, realtors now have a number of alternatives besides newspapers for listing homes for sale, such as Realtor.com a site run by the National Association of Realtors, in addition to major online destinations CyberHomes, Zillow, Yahoo and more. I can understand how as home-buyers flock online, it's tough on realtors, since home-buyers are expecting to see extensive color photos, descriptions of the neighborhood as well as video tours of the property — all of which costs money to produce. But what also needs to be taken into account are the many LOW COST online marketing methods a realtors can leverage, thus evening out your spend and maximizing your budget.

The absolute biggest trend in marketing during the current economic downturn is Web 2.0 and social networking strategies. Web 2.0 refers to the new interactive areas on the web which includes Blogs, Social Networks, Forums… anywhere content is user-generated and there is opportunity to make connections and relationships with other users. The social web is without question the popular web. It is where people are spending the vast majority of their time online. It is a great place to build community and create real, lasting relationships with people connecting to your services.

For example, one of the agents at my firm is extremely active on ActiveRain. To her credit she won #2 place for blog of the year, 2008, on the site. The very same agent received the Top Listing Agent award at the firm for 2008. This is NOT a coincidence.

And for those concerned about Google rankings… yes SEO (Search Engine Optimization – the practice responsible for engine ranks) matters. All those links you get from social campaigns do a lot of good to boost your search rankings. The two are integrated and reciprocal.

The secret of the web is patience. If you’re patient and driven to succeed, you can outlast, outrank and outsell.

Think you are not web savvy enough to have your own blog? There are free blog services that almost anyone could set up in a matter of minutes. Millions of people blog from around the world. It’s not just something for young people, or geeks, or cool folk, or Westerners, or even for people with their own computers - instead its something virtually anyone with access to a computer and the internet once a week can start up.

Check out this great online video which introduces you to blogging at:
http://www.youtube.com/watch?v=NN2I1pWXjXI

Below are some top Real Estate related Blogs as recommended by Real Estate professionals. If you don't have your own blog, commenting on one relevant to your industry is a great way to market yourself, increase awareness about what you have to offer, network with colleagues and potential clients and enhance your professional reputation by exhibiting know-how.

• Behind The Mortgage http://www.behindthemortgage.com/
• Brownstoner http://www.brownstoner.com/
• Curbed http://curbed.com/
• Grow-a-Brain http://growabrain.typepad.com/
• Hot Property http://www.businessweek.com/the_thread/hotproperty/
• Housing Panic http://housingpanic.blogspot.com/
• Inman http://www.inman.com/blog
• Lenderama http://lenderama.com/
• Matrix http://matrix.millersamuel.com/
• Property Grunt http://propertygrunt.blogspot.com/
• Real Estate Marketing Blog http://houseblogger.typepad.com/
• The Real Deal http://ny.therealdeal.com/
• The Real Estate Blog http://franandrowena.blogspot.com/
• The Walk-Through http://walkthrough.nytimes.com/

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Marketing In A Recession... Go Guerilla!

LinkedIn Question:

Do you think Guerrilla Marketing is making a comeback due to the recession? As we are very busy. But we are in Vancouver where the Olympics are goign to be... What is your opinion? Is street marketing making a big come back?

My LinkedIn Answer:

ABSOLUTELY!

In recessionary times, even the biggest companies need to take a leaf from the efforts of smaller enterprises and market more effectively and in new venues. They MUST be more creative in their use of time, energy, and imagination.

That has led to the rise of guerilla marketing.

I have always been a big fan of Guerilla Marketing because of it's ability to directly touch target consumers. In my current role directing the marketing strategies of a large corporation which employs hundreds of independent contractors I have stepped up Guerilla Marketing education, particularly at targeted public events.

In your case you are speaking of the same. I feel experiential marketing is the most effective Guerilla Marketing tactic because of its ability to engage consumers with your brand immediately and, when done correctly, reaches them at a time when they are in a positive frame of mind which drastically increases recall and retention rates.

FuelNet.com (http://www.fuelnet.com/) offers the following Guerilla Marketing ideas that anyone can quickly put into practice:

1. Partnerships Consumers are more likely to listen to a marketing message about a particular business if it comes from another company, asserts Tom Richard, author of Smart Sales People Don't Advertise: 10 Ways to Outsmart Your Competition with Guerilla Marketing. "If you have a marketing budget of $2,000, go find nine other people who have a marketing budget of $2,000, and together spend $20,000 on the best promotion ever done in your town," he says. "You get the benefits of a $20,000 marketing campaign."
2. Stunt marketing Done right, the appeal of this guerilla marketing strategy is that it leaves a lasting impression. For example, Gary's Uptown Restaurant and Bar in Lodi, Calif., once ran a special on Wednesdays where bald men ate for free; other hair-challenged patrons were given discounts. It generated worldwide media attention. "That goes to show that you really can do something fantastic if you have the creativity behind it," says Colleen Wells, coauthor of The Complete Idiot's Guide to Guerilla Marketing.
3. Experiential/Event marketing A few years ago after a 40+ year career in sports journalism with a focus on horseracing, my Father became Executive Editor of the new website HorseraceInsider.com (http://www.horseraceinsider.com/). While this site quickly gained equine enthusiasts it is also designed for the weekend fan and the site needed to reach this core. During one of the most popular meets in the Country, horseracing at Saratoga Racecourse during the peak of summer, I suggested my Father invest in thousandsof branded hand-held fans. Street teamers canvased each entrance of the racetrack and distributed these fans to people embarking on a day at the races. Not only was this potential new audience for HRI extremely greatful for a tool to keep them cool in 95+ degree weather, but the fans proved walking billboards throughout the racetrack and sparked conversation among those who didn't have one... "WOW, where did you get that, I'm so hot!" Finally, the tangible aspect of this piece remained in the hands of these potential new consumers. And all for less than $.05 each!
4. A smile and a handshake That might not sound like guerilla marketing, but author Mitch Meyerson believes it's the first step in building a tighter bond with customers. "You could spend a few thousand dollars buying a classified ad and direct people to call you, but if someone in your business is having a bad day and they pick up the phone and have a crabby tone of voice, the prospect will not be interested [in your product or service," he says. "The first rule in successful guerilla marketing is to be upbeat and helpful every single time you have contact with the public. People fall short in this area quite consistently."

In the states, EventCrazy.com (http://www.eventcrazy.com/) is an excellent resource to search over 150,000 events and attractions with select criteria. Best part... it's FREE!

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Why Is It Important to Evaluate Your Competition?

LinkedIn Question:

Why is it important to evaluate your competition? How do you look at their strengths and weaknesses?

My LinkedIn Answer:

As simple as it sounds, competition is the key to short-term success, while innovation is the key to long-term success.

To succeed in today's marketplace, you must differentiate from the status quo by offering products or services that are more innovative or competitive in terms of quality, image or price.

It is important to seek information about your competitors and use to innovate. By doing so you will be able to:

• Evaluate your own performance against others
• Identify and exploit competitors weaknesses
• Address competitor strengths
• Get new ideas
• Identify new prospects
• Improve sales forecasting
• Stay strategic

There are also other benefits, which are arguably more important, but difficult to measure. Competitor intelligence helps you to:

• Reduce complacency and improve discipline within your own business
• Foster an acceptance of continuous change
• Respect that other suppliers have satisfied customers and reasons for it
• Create a recognition that the business must continually seek to improve

Here are some key questions you may want to begin with when analyzing your competition:

1. Who are your competitors? There’s a little more to this question than meets the eye. You may find that you compete with different suppliers in the different product/service areas or markets in which you operate.

2. What do they offer? Find out what makes up their entire product range or service portfolio. Of course you are more interested in the products and services that you compete with, but remember that they are making decisions about resource allocations to their entire portfolio.

3. What is their pricing policy? Customers will usually consider carefully the price of your products or services in relation to your competitors. It isn’t always good to have a lower price. For example, if your price is lower, is your quality or are your costs also lower? If the price of your products and services is higher than other suppliers, are you providing additional customer benefits? Do customers recognize and value these benefits?

4. Who are their customers? Consider the different types of customer groups that your competitors are supplying.

5. How do they promote themselves? How are they attracting new customers? How active is their marketing activity? What does their marketing mix consist of?

6. How financially secure are they? Company accounts can provide much useful information, and enable you to make direct comparisons.
A couple of words of caution:
- When comparing company accounts, make sure that you are comparing like with like.
For example, do their sales come only from products or services like yours?
- If you are collecting this information for the first time, try looking back over the past three years to identify trends. Then you can monitor this information in future years.

7. What are their strengths and weaknesses? You have potentially collected a lot of information about your competitors. Listing their strengths and weaknesses is a good way to summarize this information in a meaningful and usable form. Perform a SWOT analysis on yourself and your competitors. See http://www.oie.eku.edu/docs/2005-06/SWOT%20Analysis.pdf for how to conduct a SWOT analysis.

8. What is their business strategy? If you understand your competitors, you will be able to predict what decision they are likely to make in a given set of circumstances. This insight is extremely valuable to you.

From all the information you have obtained, you can build a picture of the key characteristics of your main competitors that will enable you to make intelligent deductions about their overall business strategy. From their you can enhance your own offerings that are more innovative or competitive in terms of quality, image or price ultimately gaining marketshare.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

The Paid Content vs Free Content Debate

LinkedIn Question:

Online publishing / digitization of content has changed the way publishing businesses are run...

1. Has "content consumption" changed significantly because it is available free?
2. What is "paid content" in this digital content age?

My LinkedIn Answer:

Every business, big or small, needs a healthy and regular revenue stream to maintain quality and continually improve what they do. Running a content website is no different. If you believe you can achieve your financial goals whilst giving your content away for free, then do it, but as Warren Buffet famously said “only when the tide goes out do you discover who’s been swimming naked.” As the recession bites, there will be a lot of website owners exposed to the harsh truth.

The good news is a lot of the rubbish on the web will disappear and the quality content will become more visible. The key to success is generating multiple revenue streams.

• Every content website should provide free content. This will drive traffic, help build credibility and, of course, generate some advertising income.
• Affiliate marketing will become more important in bad times as merchants try to get more bang for their marketing bucks. Online publishers need to hook into this lucrative market.
• Ebooks, research and other downloadable products should be sold.
• Events, webinars and courses should be created and promoted via the site.
• Every website owner should strive to find a way of getting monthly subscription income to give their site financial stability.

Ultimately, free content is good, but you need paid content to survive.

The recession will lead to thousands or maybe millions of free content websites closing down.
I think this is a good thing.

As Eric Schmidt, the CEO of Google, recently said the internet is a cesspool of false information. A major clearout will give oxygen to quality content and allow it to float to the surface.

If you are already an online publisher producing quality content for a niche target audience, keep going, your time has come.

If you are considering setting up a niche online publication, I would say there has never been a better time to get started, since the internet began …. provided that:

• You focus on creating fantastic content
• You know your audience
• You plan on making multiple revenue streams (including, if possible, subscription revenues)
• You understand that it will take hard work and persistence

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Online Audience Development for Digital Publishers

LinkedIn Question:

What are the most successful forms of online audience development for digital publishers (SEO/SEM, Content Barters, Social Marketing Tools, Other)?

My LinkedIn Answer:

It is true when they say content is king. But "relevant" content is key to success. All publishers need to make sure they have the right content for the right people in their audience. How is the online content consumed?

A pull strategy (bringing people to your online content) requires SEO/SEM or display advertising to acquire the audience. This can be expensive.

A push strategy (delivering content to the people) is likely going to be key in getting cost-effective results and ROI. The best way to do this is delivering relevant content in a timely manner via email. In this case content is targeted to individuals based on their preferences and behavior.

Here are some more specifics on some push/pull techniques that Internet-centric media companies seem to be using:

• Search engine optimization and search engine marketing.

Seems obvious, but how many publishers do this? If you publish media in a given space, the huge number of topics that your publication or Web site covers makes SEO/SEM a totally different challenge.

• Co-registration.

This is easier said than done for publishers that sell advertising, but basically the idea is that anytime someone signs up for an e-newsletter subscription on another Web site that's topically related to your Web site, you negotiate a relationship whereby your newsletter subscription is offered as another checkbox on that other Web site's e-newsletter sign-up form.

Not surprisingly, Marketing Sherpa uses this tactic on a lot of marketing vendor sites. One advantage: They have a paid content model, so there's no conflict of interest. I'd like to see an example of an ad-supported publisher doing this with suppliers in their space.

• Landing page optimization.

I know most publishers aren't using this technique. The idea is that the very design and layout of the sign-up page (for our purposes, called the landing page, the place where the moment of truth occurs, when readers decide whether or not to opt in to your site, newsletter, magazine, advertiser white paper, etc.) greatly influences the number of readers who "convert" or complete the form. By testing different versions of the page, you can increase conversion by up to several hundred percent.

• Tracking/Analytics.

This is the adroit use of Web analytics programs to give you feedback on metrics that are meaningful to publishers. How many people subscribed to which e-newsletter products, and which were the most effective sources of traffic, both internally and externally? If you're doing paid search, which keyword groups yielded the best ROI? Which should be scrapped? Anyone doing paid search without tying it to some ROI metric is throwing their money down the drain.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Email Marketing Tips for Targeting Inactive Subscribers

LinkedIn Question:

I've been managing an email marketing campaign for one of my clients for the past few years. The database grows slow and steady but it seems it is the same people consistently opening and interacting with the email content. Any advice on getting the others to participate?

My LinkedIn Answer:

In my opinion you've already taken a first critical step. You've identified those recipients of your email campaign who are inactive.

The point of identifying your inactive recipients is to treat them differently - not to delete them, ignore them or cry over their inactivity. Your goal after identifying and segmenting your "active" and "inactive" subscribers is to spend more productive time on actives and attempt to re-engage inactives. Here are some tips on what you can do to re-engage your inactives:

1. Special Offers - If you are a retailer, for example, consider a special offer such as discounts or free shipping. If you are a B2B marketer you might offer a special white paper that will motivate the recipient to re-engage with your communications.
2. Survey Subscribers - While you are not likely to get a significant response, consider surveying these recipients to help provide insight into their inactivity.
3. Update Profile - Using incentives, drive subscribers to your profile update page where they can change email addresses, update format preferences, demographics and interests. This updated information may now enable you to send them targeted and relevant emails.
4. Understand Their Demographics/Profile - Perhaps a large percentage of your inactives share a common trait. Perhaps they opted in as part of registering for a white paper or seminar or promotional offer. Or perhaps a majority are women, while your content is oriented toward men.
5. Try Different Send Days/Times - If you always mail on the same day or time of day, try some different distribution times (what do you have to lose?).
6. Modify Frequency - Now that you've segmented your list by actives and inactives, consider adjusting the frequency of your sends. If you normally send twice per month, you may want to test sending three times to active subscribers, but only once to inactives.
7. Create Different Content - If your analysis has been able to uncover some common threads among inactives, consider packaging the content differently for this group. For example, a newsletter from a job search-oriented business might logically find many subscribers becoming inactive after completing their job search. For these recipients, the company might want to focus its newsletter content on managing people, careers and the hiring process. Uncovering this type of trend should lead to providing different newsletters or dynamic versions based on a person's profile or stated preferences.
8. Try Different Formats - Test using a text version, for example, that is very simple but with specific links and messaging intended to drive action.
9. Test Different Styles of Subject Lines - If you've used a particular style of subject line, try a different approach with the inactives. Creative subject lines could be one of your most effective strategies in getting recipients to re-engage.
10. Monitor Seed/Proof Lists - Send your messages to proof and seed lists for key domains. Monitor if content or images are causing your messages to be filtered or treated differently with specific ISPs and companies. If problems are detected, consider developing different versions of the messages that may not trip filters.
11. Send a Postcard - If you have your subscribers' mailing addresses, consider sending them a postcard that offers an incentive if they'll update their email preferences and profile.
12. Move Re-engaged to Active Status - After each email message sent to the inactives, change the demographic status of those recipients that clicked a link to "active." This helps keep your focus on converting the inactives and tracking your success in those efforts.

Here is an extremely useful blog post from Seth Godin where he discusses the efficiencies and inefficiencies of two different email marketing campaign case studies:
http://sethgodin.typepad.com/seths_blog/2009/02/email-campaign-case-studies-one-good-one-bad.html

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Re-Opting In Your Email List: Why and How

LinkedIn Question:

Re-opting in your email list... good examples... It is time that I re-opted in my email database list. Anyone out there have any good examples of a re-opt in campaign?

My LinkedIn Answer:

Even though your lists may be opt-in, it is inevitable that some “old” subscribers may stop opening emails and can log spam complaints for them. Though subscribers originally opted-in, these spam complaints count towards your online brand reputation.

Over time, these complaints can cut into your profits by causing IP or domain blocking or blacklisting. To maximize ROI and deliverability for a dated list, you may need to reconfirm dormant subscribers, or to re-opt-in old subscribers.

When sending your re-opt-in campaigns, I recommend you keep the following in mind:

• Send only to opt-in lists of your customers with whom you have done business with in the past twelve months
• In your eMail, use language in the subject line to call attention to the issue (e.g. YOUR BRAND NAME – Register Now to Receive XX)
• The body of your eMail should be entirely dedicated to the opt-in message. Nothing else.
• Have a button AND a link to click to opt-in.
• Provide an incentive (e.g. Sign Up by 2/15 and receive XX) to your subscribers to re-opt-in
• Always have an urgency date to encourage immediate action

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

The Most Effective Viral Marketing Methods

NOTE: Where I always try and rely on industry knowledge, facts and statistics in my posts, this particular post is based solely on personal experience.

LinkedIn Question:

What has been the most effective viral marketing method for your business and why?

My LinkedIn Answer:

By far I find narrowcasting activities have proven the most effective for me in terms of generating a viral campaign...

Below are 3 such narrowcasting activities I've implemented in my current position over the past year. I also find narrowcasting particularly effective while marketing during a recession.

1 - Writing 'Special Reports'

• Special Reports work great because they allow you to go into more depth about the Topic or Problem in question where you'll then be able to lead them to how your Product or Service (or Affiliate product) can fix there current problem.
• They give you Instant Credibility, which builds trust in your customer that you are knowlegdable in your industry.
• Website owners are always looking for quality "Free Stuff" to give away or offer to there Visitors and/or Subscribers.
• And your Contact Information will always be inside, no matter what. Meaning, as your report is being passed around the Internet you'll always be able to lead your potential customer back to your website where they could sign-up for your newsletter and/or read up more about your Products or Services you offer.

2 - Putting Together A 'Free eBook'

• Free eBooks work great as well and have the same benefits as I outlined through the special report. The only difference using this approach is, you can put together a free ebook in less time then it would take to produce your special report simply because it doesn't even have to be your own material inside, it can be someone else's.
• And they also allow you to target more then one Product or Service inside because free ebooks are usually a compilation of related articles targetting a particular problem leaving you room to diversify.

3 - Writing 'Articles'

• Writing Articles is probably ONE of the Best and Most Effective Ways to produce a wave of Viral Traffic to your website because every website owner needs FRESH content to feed to there visitors and/or subscribers.
• They also allow you to Target your audience's problem specifically that they're dealing with.
• And at the end of the article you have a spot called the 'Resource Box' to insert your personal Bio and/or Website information. Just imagine if your article were to be picked up by some Newsletter Editor with a large list or High Traffic website and they use it as a 'Featured Article' in there publication, you could see an INSTANT surge of targeted traffic to your website overnight. That's where your 'Resource Box' comes in.

Perhaps you've noticed what these 3 'viral' methods all have in common...

• They're in HIGH demand by website owners.
• They're HIGHLY Targeted.
• They give You INSTANT Credibility in your industry.
• They have YOUR Contact Details leading to Your website.
• ...they're all FREE!

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Is Direct Mail Really Dead?

LinkedIn Question:

Why do people think direct mail is dead. It's not! Comments?

My LinkedIn Answer:

"Direct mail is dead" is probably just too bold a statement. In reality, a complete and integrated companion marketing approach works best - utilizing a variety of venues to market your message - including direct mail, email, internet marketing, social media, etc.

I think this topic has been stirred a bit by the interpretations of an NPR article noting that the USPS is seeing less mail due to the economy. In the article, the Postal Service’s Senior VP of Customer Relations, Stephen Kearney, states:

"Our mail volume had its greatest decline since the Great Depression… We may have losses (revenue) that are larger than the $2.8 billion we had last year."

Source: http://www.npr.org/templates/story/story.php?storyId=99027132

Those looking to make their case may be misdefining "mail volume" as only direct mail pieces. But Americans are sending fewer packages and letters via USPS for a number of reasons, i.e. - the economy, email, availability of other carriers, etc. To twist USPS’ declining revenues into proof that direct mail doesn’t work is misguided.

That being said, however, I do feel the efficiency of direct mail has declined in the face of online inbound marketing tactics.

Here are some of my DM cons which has inspired me to ramp-up Web 2.0 activites and email marketing campaigns.

• Direct mail is often considered to be junk mail. Seldom does a one-shot mailing have the desired result. You must have a long term, well thought out marketing plan.
• Your piece is competing with dozens of other pieces for attention. If you don’t know what you are doing, it is easy to waste a lot of money.
• There is a relatively high cost per contact.
• It may be difficult to obtain updated, accurate mailing lists.
• There’s no data. Direct mail does not offer real time data like internet marketing campaigns can.
• Too many cheaper, more efficient options.

If you are moving forward with a Direct Mail campaign, I can only endorse it when done correctly, and that means including drivers to that next action step.

But beyond that I'd also advise to determine who you want to reach before you develop your direct mail program. This allows you to specifically target your message to fit specific needs. It is the best advertising medium for customizing your appeal. With improved database resources and demographics, you can effectively precisely target the prospect you are aiming at.

Also, carefully plan your package content, its design, and its message. Remember to attract the reader’s interest, it must be clear, concise and easy to respond to. Can't stress it enough... INTEGRATE... coordinate your mailing with other advertising methods to significantly increase your return. Also, presenting one specific offer instead of a variety of options is usually more effective.

Finally, figure out a way to diligently test and track your campaigns. I recommend the Direct Mail Marketing blog at marigoldtech.com for some tips on calculating DM ROI:
http://www.marigoldtech.com/blog/index.php/archives/calculating-direct-mail-roi/

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Cold Calling, Email Marketing and Lead Generation

LinkedIn Question:

Apart from Cold calling, what needs to be done to get more number of clients?

My LinkedIn Answer:

With all of the online marketing tactics available these days I do find cold calling less and less effective.

In as previous post, I have cited some statistics comparing the efficiency of cold calling to social networking (http://jenniferpriccimarketingstrategies.blogspot.com/2009/01/networking-plays-important-role-in.html#links). Social networking wins hands-down.

In the meantime, if you're going to use cold calling for lead generation it is important to sharpen your strategy...

• Use a top down approach
• The executive assistant is our ally
• “Be people with people”
• Standardize all leads regardless of source
• Start with a great database
• Script your introduction & create a calling guide
• Write a voicemail script
  
  NOTE: On average 20% contacts in a database change annually.

In addition, it is imperative to make the most of each call...

• Confirm the decision maker
• Find other players in the decision making process
• Gather basic information (eMail is critical)
• Start to talk about basic needs and concerns
• Leave your website address on voicemail messages
• Use phone and eMail combination
• Send an eMail follow-up

Regarding the last two points above, using an opt-in eMail marketing campaign can be a great way to generate leads and sales.

1. eMail is cheap. Which is why spammers love it. They don't care whether response rates are low because their costs are negligible. If you want to reach a large number of people and if you have access to a solid, opt-in list, go for it. A test sure won't cost you an arm and a leg.
   
   
2. eMail is fast. In two senses. First, your production time is minimal. As soon as you get an idea to test, you can write a motivating email, and hit the send button. Second, your prospect gets your email instantly so responses can start pouring in within minutes. Speed, from start to finish, means you can be a super-agile marketer.
   
   
3. eMail is a fabulous testing medium. As a result of the speed I mentioned above, you can get virtually instant answers to your marketing questions. Is a cross-sell offer going to be a winner? Send a group of prospects an email and you'll have an answer. Have you written two great headlines but can't decide which one to go with? Do some email testing and get your answer fast!
   
   Downloadable fulfillment pieces are instantly accessible. For example, if you're offering prospects a White Paper filled with valuable information, they can click through to your landing page, fill in a little qualifying information, and download your White Paper in under two minutes. The fact that they don't have to wait long to get their free fulfillment piece boosts response rates.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Networking Plays An Important Role in Getting Clients

LinkedIn Question:

Networking plays an important role in getting clients?
If you say yes the tell us how it helps... If you say No then tell why it doesn't help...

My LinkedIn Answer:

Social Networking should certainly help you and your business obtain new clients. In a recent answer I posted regarding Cold Calling vs. Social Networking I cited the following statistics:

Cold Calling Results

Outbound calls made 325
Meaningful conversations (pitches) and brand touches 80
Meetings made 4
Sales made (as a direct result of cold calling) 0

These are average conversion ratios for time spent but it comes with much overhead.

Social Media Results

Inbound calls generated 8
Meetings as result of inbound calls 3
Sales as a result of inbound calls 2
Brand touches (from site statistics unique views of content) 422
Visitors to sales associate's blog Subscribers (RSS) to sales associate's content 27
People following sales associate's Twitter 12
New contacts 71 (on LinkedIn, Facebook, WeCanDo.BIZ, etc)
Listeners to sales associate's Podcast 83
Opportunities to sell found 21
Online conversations had 39
Warm call list (names generated expecting a call) 11

The cost of the social networking blitz to find new business opportunities, other than time and internet connection are small, if anything at all. Most importantly 2 sales were closed, covering any cost associated with the activity and generating a very healthy return.

...If you are not getting results from social networking, you need to adjust how you network. Here are five tips to help you do just that:

1. You Should Always Network In The Right Forums. If your networking objective is to get clients, you should network in social networking communities that your potential clients frequent.
2. Network On A Regular Basis. If you are only networking when you need to get clients, you are wasting your time. Networking is not a one-time action; rather, it is a process of having others get to know you and building relationships with them. You need to use online social networks continuously to raise your online visibility and develop relationships with others.
3. Network, Don’t Sell. A business owner told me once “I keep posting about my business on every social network every chance I get, but have no takers.” This person is not really networking. Rather, he is selling his products and services instead of building relationships. Networking is about creating awareness for your products, not blatantly advertising them.
4. Provide Information About Your Business. While some people try to sell their products more then they should, there are others who don’t tell people anything about their business when networking online. Remember, if people you are networking with have no way of learning more about you your business, they will not be able to do business with you. How do you let others know about your business? Use a signature at the end of every message you post when networking online. Make sure your signature contains some information about your business and a link to your web site, so that everyone reading your posts can learn more about you and your business.
5. Invite Others To Subscribe To Your Newsletter. The best way to continue building relationships with people you meet on social networks is to ask them to subscribe to your newsletter. Use your signature when you are networking online to invite people reading your message to subscribe to your newsletter. When they do, you can continue building relationships even if you or they stop networking on the forum altogether.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci