How to Grow A Business With No (Or Almost No) Budget

Yup - that's the challenge!
Three small businesses - each of which has grown organically through word of mouth, referrals and networking.
Now they're ready to take it to the next level, and we're going to see how far we can achieve that using social media and online marketing.
Follow this blog to find out what we learn!

Wednesday, November 17, 2010

Is Your Blog a Substitute for a Newsletter?

I get asked quite a lot whether clients should be blogging or sending an e-newsletter.

I guess the answer is, it depends (I love that answer!). Personally I'm using my blog as a substitute for a newsletter, and when I finish getting my website rebuilt (a whole different story), I plan to use an email sign-up box just as you would with an e-newsletter.

But, there can be a place for doing both, because the expectations from each medium are slightly different.

For the most part I would suggest that your blog is a more informal, conversational piece. Lot's of people are successfully monetizing their blogs, but for the most part, I think we're seeing it primarily as a tool with which to build relationships. This is a great place to build community and establish yourself as the friendly, helpful, neighbourhood expert in your field.

A newsletter, because it has the potential for different articles, is a little more corporate, more product-oriented and more of a sales piece. Having said that - always make sure that at least 80% of your newsletter is solid informational content. If it's just a sales vehicle, you'll start getting a whole bunch of opt-outs.

So, that's the either/or option, but if it fits your marketing plan, it's also worth considering both, partly because then you can segment both your message and your audience.

That's all for now. If, like me, you're in Calgary right now - enjoy the snow!

Wednesday, November 10, 2010

What's Your Personal Brand?

It seems wherever I look just recently, I'm finding myself reading about personal branding. What's up with that?

Actually, it makes a lot of sense that when you're engaging in social media, your business brand is going to become inextricably linked with who you are away from the office. Your facebook profile is attached to your business page, and your tweets can be followed by both business and personal contacts alike.

And, of course, potential business contacts can search for you and find you on all your social media sites.

So, it's important, then, to be aware of the persona you're presenting, even when communicating with friends and family in social media. Just bear in mind that when you're sharing a joke or memories with good friends, that could be seen by your next best client. Is it something you want out there?

Of course, that's where your privacy settings come in, too. They can't completely separate your business from personal, but use the settings mindfully - and that goes further than just controlling what 'non-friends' can see. On your facebook profile, for instance, you can put all your business contacts together in a business group, and then you can control some of the things members of that group see. When you share links, videos or information you can choose to share it with just your business contacts - or not with that group at all. It's not foolproof, but it helps.

I'm still trying to come to terms with this merging of business and personal, but until it becomes possible to truly separate the two, it certainly makes sense to be aware and to use a little discretion.

Wednesday, November 3, 2010

How To Develop a Social Media Strategy

You've heard about the cobblers children, right? They have a father who makes shoes and they walk around barefoot. Well, that's the story I tell myself when I start to feel guilty about how informal my own marketing efforts can be. I like to think the copy is awesome, but the strategy behind my activities rather belies my strategic background!

In an effort to remedy that, I'm doing a business plan class through SIFE at Mount Royal University - it's been wonderful in making me gather my vague ideas into a formal marketing plan. As part of that, I'm also writing a social media strategy, and it's an interesting exercise.

So here's my ten pen'orth (oops that's a bit of ye olde english slipping out! I guess I should say 'my take') on how to plan your social media strategy:

1) Your objectives. What are your broad business objectives, and what are your overall objectives for social media. Without defining what you hope to achieve it will be hard to plan specific activities that will support your business goals.

2) Your audience. You need to start with a very clear idea of who you want to attract to your social media activities. If you're in any kind of commercial enterprise you need to attract people who will benefit from your excellent content; but only up to the point where they decide they need your product or service.

3) Objectives and strategy for each social media platform. What you hope to achieve through twitter will probably be very different from what you hope to achieve through Facebook or your blog. By pinning down how each platform is likely to serve you, it becomes easier and more effective to define a plan of action for them.

So, while I may not have covered the entire field of social media strategy, I hope that's a good (very brief) overview, and at least something to get you thinking about what you're up to.

Have a great week!