Do not start it if you cannot measure it

Recently there has been a lot of talk about social media as a marketing tool and whether or not it is actually an effective measurement tool.  I would postulate that the problems with answering this question is the question itself.  Is the telephone an effective marketing tool?  Is email an effective marketing tool?  Is direct marketing an effective marketing tool?  People ask these questions when the real question they should be asking is – are these effective marketing mediums.  Social Media is another medium that allows companies to communicate with their customers and prospects.  Plain and simple.  To think of it as much more is to give it too much credit.

When you start thinking of it this way, the first question that you would ask is – what is the return.  On direct mail you ask – if I mail this many pieces, what should I expect for a response.  On a phone campaign you ask – if I invest in this many calls, what should I expect for a response.    The same can be said with social media campaigns.  Ask yourself – if I invest this many dollars into a campaign, what is the response I expect to achieve.  In fact, I often recommend that clients work the other way – lay out your expectations first and then design the program based on these expectations and then see if you have the investment dollars to support.

For anyone who says you cannot measure the investment, the response should be simple – thanks and good luck.  That is the defense mechanism that lots of “consultants” put up to protect themselves from the pressure of targets.  Don’t allow for it.  All marketing and outreach campaigns are measurable.  And digital media and social media are no different.

Are they?  Should they be?

The Pulse Network Finance – Creating a Quality Business Plan – Part 2

Check out this part 2 clip from TPN Finance on The Pulse NetworkMike Nahass and I discuss the basics to developing and presenting a business plan.  As we explore in more depth all of the different things we have learned sitting on both sides of the table we try to give suggestions and ideas about what goes into a good plan and idea.  Have thoughts?  Please let me know.

Believe it or Leave it

Recently I have been in conversations with a couple of advisors that I respect immensely talking about what we are going to do to take our company to the next level.  Note – lots more to discuss on that soon…  As we have been talking, I have been reminded of something that I have told team members from the time we launched the company – if at any time you feel that this is not the right fit and it is not working for you, you should decide to move on before it becomes disadvantageous for both you and us.  Recently we have been discussing this message with the team – “Believe it or leave it”.

So often, CEO’s have been afraid to say this to employees and staff.  I have found myself falling into that trap before.  Sometimes it is because we care for people too much.  Sometimes it is because we fear the repercussions of a potential person leaving.  However, unfortunately, I have learned time after time that prolonging a team member who is not committed to the mission is an unsuccessful strategy.  Not that I am saying it does not make sense to try to bring people around who become disenchanted or disenfranchised.  It certainly is.  Better to get a team member re-engaged than to try again with someone new.  But if the fire is not there and it is not possible to restart the fire, then the best decision is to part ways.  The job of a CEO is to continue the momentum and moving the company forward.  In essence, to keep the company firing on ALL cylinders.  Figure it out.  Fix it if possible.  And if the person does not believe, make the change before it becomes a larger problem.

Do you believe in the philosophy of “believe it or leave it”?  Have you fallen into the trap before?  Can you keep the company firing on ALL cylinders?

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The Pulse Network Finance – Creating a Great Business Plan – Part 1

 

Check out this clip from TPN Finance on The Pulse Network - Mike Nahass and I discuss the basics to developing and presenting a business plan.  Over the next few weeks and months we will be exploring in more depth all of the different things we have learned sitting on both sides of the table and trying to give suggestions and ideas about what goes into a good plan and idea.  Have thoughts?  Please let me know.

The power of a message

In recent weeks, we have been focusing a lot on refining our message. Simplifying it. Making it easy to understand. Making it easy to articulate. Making it impactful. Making it easy to translate. Throughout this process, it has been a challenge to stop ourselves from being too esoteric and theoritical in our presentation while at the same time keeping it from being too basic where it might not be perceived as being thoughtful and insightful.  I thought it was going to be easy.  I have done this so many times in the past that to do it again was going to be an easy task and not a lot of work.  Well - I was wrong.  And not because I could not have been there quickly.

What I realized through this process, in test driving a message and then honing it more, was that the power of a message is never to be underestimated.   Back in the day we had it with Cambridge Technology – everything was solved with Three-Tier Client Server Architecture.  You knew who we were.  You knew what we stood for.  And everyone used the same words and meant the same thing.  You see it in other successful companies like HubSpot.

Sure – we have had it in the past.  And it has been successful for us – no question.  But as we changed, I was once again reminded how powerful a strong, consistent message can be.

Have you re-thought your message lately?  Is it simple?  Is it easy to understand?  Is it easy to articulate?  Is it impactful?  Is it easy to translate?

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