“If you doubt that social media is effective or delivers ROI, count the business owners who have flown to Social Slam 2011, in Knoxville, Tennessee, at our own expense. We own marketing/PR firms and generally bill by the hour. What’s the cost of a firm’s time? What’s the value of engaging on a panel of social media practitioners? Is there a business case? We are your proof.” – Anne Deeter Gallaher
“Strategy is all about how to deploy scarce resources.” – Dale Evans, CFO, The Scotts Miracle-Gro Company
CFOs are thinking about how to create shareholder value: tell them how social media will help with better communication, investor relations, wiser investments, better returns, more referrals, more press, and stronger communities.
There are 100 opinions on what percentage of social media should be in your 2011 marketing mix, but across every industry there’s one unified call for quantifiable ROI.
We marketers know that Return on Investment and Return on Information depend on a company’s goals. While it may be difficult to measure the short-term effectiveness of a Twitter campaign in profitability terms (ROI), it’s no excuse not to pursue an initiative or forego measurements.
Do you know the ROI of the ad on the bus bench? Or four hours on the golf course with a CEO, or the in-flight magazine ad?
Powerful language is the soul of effective communication. It’s also the soul of successful marketing, business, and government. Remember “Mr. Gorbachev tear down this wall”? We cannot measure the global impact of those six words.
What’s the secret to better writing? Two necessities: more reading and more writing. Both are unglamorous; but both are effective and productive.
Before you hire a writing coach, put your reading and writing on steroids with these seven principles.
What’s the Return on You? For professional service providers, it’s imperative to speak the language of numbers to the accountants and business managers that run corporations. Many CFOs question the value of public relations, the power of a brand name, or the role of reputation management. They want to know one thing: Return on Investment.
Wired for hard costs—building and energy bills, employee health insurance, computer fees—investments in soft skills and sustaining customer relationships are difficult for them to quantify. It’s even more challenging when we add social media into the service mix. Tweeting and blogging as marketing? That’s why in every client pitch, we prepare for the CFOs in the room. As we passionately show our creative skills and share our success stories, we are careful to include real costs and deliverables.
As a business owner and the payer of our firm’s fixed costs, I understand that language. Our team knows that “Every day we wake up unemployed.” Giving 110% to every project and every client reminds us that in addition to a client expecting significant Return on Investment, they deserve significant R.O.Y.—Return on You.
Just what do we sell and what do we freely give?
Here are seven services that have no price tag, but help create long-term client relationships and significant R.O.Y.
1. Loyalty and protection.
In the 1954 TV series Lassie, a collie dog plays with and guards young Timmy night and day. His loyalty is palpable. Lassie barks when he senses impending trouble, protects Timmy from harm, and intuitively runs for help when needed. A loyal PR firm protects its clients’ trade secrets and seeks their best interests in every interaction.
On December 6, 2010, I was privileged to be a guest on #MMChat (Marketer Monday Chat), hosted and created by @JeffAshcroft of @TheSocialCMO fame. My esteemed PR colleague, Amy Howell, owner of @HowellMarketing Strategies, was featured with me and our topic was The Impact and Value of Social Media in PR. You can find the transcript here and glean some amazing insight from practitioners around the world. Not only was it a fun and exhilarating online experience, it also prompted this post on Twitter and its PR potential.
The digital channels can be consuming, and it’s important for those of us in business—whose first goal is to run a profitable company to sustain our employees and our clients—to stay abreast of communication trends. To make sure that we achieve optimum PR health for ourselves and our clients, here’s a quick Twitter primer. No more excuses for PR colleagues who say “I don’t get Twitter.” If the government is using social media for PR, and the business community is not, there’s a disconnect.
With billions of Facebook posts, tweets, and YouTube uploads, there’s never been a more appropriate time to evaluate our social graces—in real life and in social media. The relaxed communication style of emails, texting, and the public timeline can present an illusion of relationship. After one tweet, we find ourselves sharing personal information with total strangers and risking a breach of business decorum.
Inextricably woven into the art of doing business is etiquette: a combination of common courtesies, mutual respect, and common sense. Learning how to build appropriate relationships in business is crucial to business success. By focusing on three core areas—actions, appearance, and words—we can gain a clearer understanding of the messages we send to colleagues, managers, and customers.
Make it easy for people to do business with you. We all want to work with smart, perceptive, well-mannered people. If your actions and personality get in the way of your clients’ receiving what they need from you, change. Are you hard to please? Critical? Unappreciative of colleagues or vendors? You’ll lose clients and employees with a history of these behaviors.
To discover how to attract and keep clients, find the best leaders and emulate them. Notice how they lead, how they conduct business, and how they treat their team. Interestingly, people’s personalities aren’t disguised on social media channels, they’re actually magnified. When one executive showed me his 3-page resume, I smiled and said, “We might not need traditional resumes from job seekers now, we’ll just Google them. We can learn immediately who they keep company with, how disciplined they are, and if they show respect to others.”
Common courtesies in business begin with punctuality, a firm handshake, and attentive listening—online and in person. Linda Kaplan Thaler and Robin Koval have captured valuable business lessons in their book The Power of Nice, How to Conquer the Business World with Kindness. They explain that “Nice makes more money. Nice is healthier. Nice spends less time in court.”
In our rapid-fire, digital generation, content comes to us—faster and from more sources than ever before. Regardless of its origin—Twitter, Google Reader, The Wall Street Journal, or your favorite blog—information is still king and great books are still treasures. Whether you’re a Gen Y in your first job, an On-Ramper who’s re-entering the workforce after raising children, or an executive in high gear, these five literary and corporate standouts will challenge your thinking and drive your differentiation.
Social media participation is a marketing game changer for every size of business. The playing field is leveled and companies from @Ford with 198,000 employees, to @AmeriChoiceFCU with 60 employees, to @GoodHlthRewards with 7 employees have equal opportunity to tell their story, attract an audience, listen to the customer, and make the sale.
Perhaps you think blogging, tweeting, and checking-in is a fad. Who cares if @AlanBr82 had coffee at Starbuck in Camp Hill, Pennsylvania? @Starbucks cares and commercial real estate developers like @RichardEJordan2 care.
“Social media brings new tools to our preliminary market studies,” says Rick Jordan, CEO of Smith Land & Improvement Corporation. “In real time, we can learn consumer trends and desires. Twitter is one massive focus group. As a property owner who leases office and retail space, it’s good to know that our tenants have a loyal following and are building community. By tracking conversations, we can discover what products and services people want in a region and attract specific tenants to fill the needs. That’s good for business.”
Chances are high that your competition is already engaged on LinkedIn, Twitter, Facebook, YouTube, Flickr, and Foursquare. To find out, go to www.socialmention.com, www.trackle.com, or set up some Google Alerts. If you’re not on at least one of these social platforms, you can join the conversation today to add social media to your marketing mix. It’s never too late to tell your story.
Where should you start?
1. Meet with the CEO to establish executive buy-in. Top-down support drives a social media marketing campaign. Peter Aceto (@CEO_INGDIRECT) is an excellent example of an executive who harnesses the power of social media for a business advantage. He tweets about his institution, his team, his family; and he has gained loyal customers and fresh insight because of his transparency. Ford’s Global Digital Communications Director @ScottMonty explains the power of these tools and the CEO’s support in a video interview at Ford’s World Headquarters in Dearborn, Michigan. Whether an executive understands these nascent tools or not, dismissing them can be business suicide.
2. Develop a social media strategy. Don’t make this step too difficult—plan for where you want to engage your target audience (are they on Facebook or LinkedIn, are they local or global, are they retail or B2B), and plan the content of your messages. Focus your strategy, and commit to participation in at least two channels where your customers or clients are. Determine objectives, messages, and who will lead the messaging. Every tweet and post embodies your brand. Don’t be fooled by the language and brevity in the social media. Those 140 characters carry tremendous potential to boost your brand or set off a PR nightmare. Are you determining trends, seeking opinions, looking for new customers, finding influencers, or pitching the media? Start with measurable objectives and allocate sufficient people, time, and money to accomplish them. (This is where the value of #1 is realized.)
One of the most valuable shifts in business communication is taking place on Twitter: a global audience can now learn from industry leaders and apply high-level advice in real time. At Amazon.com, there are 28,242 books written specifically on business strategy. Since it’s impossible to read and filter all that advice, there are competitive advantages to connecting with executives and learning from a primary source. And even more valuable to have access to a Fortune 10 executive’s insight.
On March 31, Ford Motor Company CEO Alan Mulally joined members of his management team at the New York International Auto Show for 30 minutes on Twitter. Pictured with Digital Communications Director Scott Montyand fresh from co-chairing the prestigious China Development Forum (CDF) in Beijing, Mulally was available for conversation and questions. Named one of Barron’s World’s Greatest CEOs in March, Alan Mulally’s accessibility defines Ford’s corporate culture.
Think you’re ready for the C-Suite? Whether you aspire to the CEO, CIO, or CMO position, these 10 principles will help you market yourself in executive circles, develop an influential network, and reach your leadership goal sooner.
1. Build “up” your network. Assemble a personal board of directors to tap for business advice. Look for trusted, well-respected C-level leaders who will help you formulate a strategy of progression to the corner office. If you are the leader of your professional network and are the most knowledgeable and experienced in your group, it’s time to enlarge the circle of influence. “Your success, not only in climbing the ladder but in building a leading company, is as strong as the people you can call upon, because these are the people who will advise you, help you out, and whom you can appoint to key positions in your company in the future. As you start to get up higher in the pyramid, you realize that your networking ability, and your worth to the entire network, is what provides the keys to the kingdom,” says Bill Swanson, CEO of Raytheon (There’s No Elevator to the Top, Ramakrishnan, p. 87).
On December 6, 2010, I was privileged to be a guest on 
To discover how to attract and keep clients, find the best leaders and emulate them. Notice how they lead, how they conduct business, and how they treat their team. Interestingly, people’s personalities aren’t disguised on social media channels, they’re actually magnified. When one executive showed me his 3-page resume, I smiled and said, “We might not need traditional resumes from job seekers now, we’ll just Google them. We can learn immediately who they keep company with, how disciplined they are, and if they show respect to others.”
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