Imagine a process, or discipline, that can call itself an “industry.”
For instance, let’s say there are a couple of factions in this emerging industry that are almost constantly at odds with each other. One side has always done things one way – the other side has always done things another way.
And a third group emerges – they have their own ideas, and they are dead set against the normal ways of doing things. They are the cowboys – and cowgirls. They are going to win the overall battle – because they’re the loudest and most boisterous. Not necessarily because they know the most stuff.
While they can argue, disagree and have spirited debates, it is obvious that, for their industry to be successful, they absolutely have to work together.
What Industry Am I Talking About?
The “Turnaround” Industry, also known as “Corporate Renewal.” Circa 1999.
Gotcha.
I was there, in the middle of it all. I had a “cup of coffee” as the Director of Public Relations for the Turnaround Management Association, circa 1998 and 1999. And I watched this battle unfold – between three distinct groups that made up the membership.
Group One: Bankruptcy Attorneys. Staid and by the book, their mission is to follow the rule of the law and make sure that assets are redistributed accordingly. Don’t piss them off.
Group Two: Asset-based Lenders. They want to know two things: what do you have as collateral, and what are the odds you will pay back a loan. While you’re at it, don’t piss them off, either.
Group Three: Turnaround Managers. These folks were unknown a few years prior to my arrival. And there were a few “Turnaround Artists” who gave the moniker “Turnaround Manager” a bad name.
What is really interesting, as I think of the parallels between Social Media Marketing and Turnaround Management, is how there were no absolutes.
Really – it wasn’t as simple as ticking the Yes box next to “Did you turn that business around?” There was always a complex give-and-take between the groups.
And the objectives would differ in each case, meaning the strategy could be markedly different. Boil down turnaround management to its essence, and you get one of my favorite questions.
What business problem are you trying to solve?
Which is why it is an apt discipline to compare to Social Media.
You’ve got the three groups – Ad Agencies, PR People and Social Media Marketers.
They can argue and complain; they can claim that they were here first.
Or they can work together and answer the “What business problem are you trying to solve” question.
We work with a good number of small businesses here at Area 224 HQ. Think “Small” Equals “No Silos?”
These are Silos.
Sometimes, even the smallest of businesses have a silo mentality.
Marketing may be a loosey-goosey term. If so, Sales may “own” Marketing – bringing with them their own ideas about what it means to “market” your company’s products or services.
Unless you’re in a financial services or legal position where having a silo mentality (in the form of a regulatory “Chinese Wall”) is required, you’ve got to get away from the “I, me, my, mine” mentality.
HOW?
Well, for starters, think about how you’re using your company’s web data. We’re not talking Social Media (YET), we’re talking about the baby steps.
You DO have a web site, right? Okay, good, bad or otherwise, you’re getting analytics.
If you’re getting those analytics – whether or not you are Marketing or Sales or Operations or anyone else – you have an opportunity to learn something.
If you’re not getting those analytics, stop reading now and find out who owns them. Then get them.
Next, you want to focus on some key things. For instance:
Who? You may not be in the business of capturing emails – and the jury’s still out on whether it’s about list building or providing information that keeps you top of mind with limited fuss. (I favor the latter for Area 224, but the former has worked in the past with other businesses.) If you don’t capture emails, you can still figure out who by glancing at your analytics. Sites that are referring visitors is one way to start – specific tabs on your site where people begin their journey, or “landing pages” may give you a clue as to where people are coming from.
How Long? Back in our U Sphere days, we knew we were on to something when we had visitors spending an average of 7 minutes per visit on the site. If you’re anywhere close to that number, you probably have the content that captures people. Good on ya, mate. If not – a focus on the right sorts of content is a good idea.
What Does It Cost? Acquisition cost is a great metric to have at your disposal. And it doesn’t have to be that tough to get – value your time, figure out how much of it you’re spending doing web stuff, see how much you are spending on keyword advertising — and decide on what “acquisition” means to you. Is it a bona fide customer? An email address? A registrant?
At U Sphere, when we started, it was costing us $20 per user — all in, 20 bucks to acquire a college-bound student as a registrant wasn’t bad.
But we got better at it — lowered that acquisition cost to $3.50 a year later.
How did we do it? Well, Sales talked to Marketing, and Marketing talked to Sales — and they both were best friends with the Web Analytics Guy.
Yes, there will be one. Are you worthy of election?
Thanks, ChrisL_AK on Flickr
An annual rite of January, the Baseball Hall of Fame Election, got us thinking – when there’s a Social Media Hall Of Fame, who will get in? Where will the Hall be built? What will the induction ceremony look like?
Some Thoughts:
1. The Social Media Hall Of Fame will be reserved for those retired from Social Media. Like the Baseball Hall of Fame, where you have to be retired from the game for five years, it doesn’t make sense to put people in who are still active.
The Rock and Roll Hall of Fame does this a little differently, electing people and bands after they’ve been in the business for 20 years. It’s also in Cleveland, which, we’re told, rocks. Bringing us to point two…where?
2. The Social Media Hall Of Fame will be located in Truth or Consequences, New Mexico. Why? Social Media Hall Of Fame induction should really center around the authentic. Those who are truly authentic focus on the Truth or face the Consequences.
3. The Social Media Hall Of Fame Induction Ceremony. Unlike the People’s Choice Awards or the MTV Music Awards, the Social Media Hall Of Fame Induction Ceremony must include things like Bacon, Slime (from Nickelodeon), and maybe a really schmaltzy host. Not Steve Harvey, but possibly Wink Martindale.
Is this beginning to sound like a really bad idea?
Ah, there’s the point of this post: we all want recognition for our efforts. We all want to get there honestly. We all want, maybe, an occasional star-studded event.
But yesterday’s election of two Hall of Famers – Roberto Alomar and Bert Blyleven – may have taught us a little something about the craft. The love of the game. Living in the moment.
Are we waiting days, months, years for the recognition we truly deserve?
We may keep waiting – especially in this modern world of craziness.
Danny Brown talked on his site about longevity at the workplace, and how the Japanese have companies that have been around for decades.
There won’t be a Social Media Hall Of Fame.
There will be little victories – in business, in life. You may throw 120 pitches one game, you may get shelled in the first inning of the next.
Don’t keep waiting for your induction. And don’t focus too too much on “Social Media” or getting into a “Hall Of Fame.”
Thanks, watradehub.comWant to be a real, live, in-the-flesh Social Media Marketer Extraordinaire? Start with these steps. Seriously.
The Daily Dose of Advice comes from Scott Stratten, UnMarketing himself.
“Reminder to take 5 minutes to reply to others today. Engage. Interact. Build.”
But how, really, truly, do you DO that? And can you invest only 5 minutes and make connections?
Well, yes. And no. We went with 10 minutes, you may want 15 or 20 or 30. But 2011 is all about small steps toward big things. So here goes.
1. Set the e.ggtimer. We said that you can learn from the big boys here, and there’s no bigger boy in the world of lifestyle redesign than Tim Ferriss. He’s the guy who first tipped us onto the timer. It is awesome for two reasons: (1) simplicity and (2) keeping you on task. We recommend you set it for 10 Minutes.
2. Begin surfing. We recommend you do this BEFORE looking at emails but AFTER getting your daily fix of Facebook and Twitter. Why? You want to get some mental cues from what you’ve seen on those sites – but you don’t want to make this reliant on what work is clogging your inbox.
Huh? Well, there are folks we are friends with on Facebook and connected with on Twitter who aren’t world famous. That’s part of the mission here. Learn from the Big Boys, but connect with the others, too.
3. Comment if you have something to add. We hit up a couple sites upon the recommendations of friends and contacts. On Quora, which is getting a tremendous amount of buzz, we had, well, nothing to add. Yet. But the standout site from Danny Brown got us thinking. And commenting.
4. Keep track.Chris Brogan recommends a spreadsheet or a Google Doc or a CRM program. Awesome.
Is that it?
Well, this should be part of a daily ritual. ESPECIALLY if you want to make real connections with real people.
