Persuasive Marketing blog is a collection of inventive thinking, interesting articles and real life experiences shared by our consultants and clients.
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For this blog post I’ve asked long time friend and colleague, Robert Lonadier to share his insights on the role of product management and the dynamics of its relationship with marketing. Robert’s career spans the gamut of IT hardware, software, and services with an impressive record of achievement as both a product management and product marketing professional – he currently serves as a Senior Product Manager at EMC.
 The roles of product management and product marketing have evolved considerably in the 20+ years that I have practiced them. Early in my career, product management and product marketing were largely left to their own devices. Thinking that the positions and function were somehow temporary, we were left to pretty much do as we pleased. Product Management’s job was to tell the engineer’s what the build. “Develop the requirements” they would say. But where to look for the source of the inspiration on what customer’s really wanted? “Talk to Sales and Marketing, they are the ones closest to the customer”.
And the textbooks were not much value, either. They either focused on consumer product management; large numbers of customer’s whose preferences were measured in tenths of a percentage of market share. Does anyone remember the Cola Wars? It’s no surprise these techniques did not transfer over well. A few innovative researchers, including Eric von Hippel of the Sloan School of Management, looked at how lead users identify the source of innovation, often in very surprising and unpredictable ways. Product Marketing grew out of the need to support sales. Help make Sales go more smoothly by greasing the skids. Provide “air cover” to Sales. It really took the classic microprocessor battles of the late 1970s (a good read on the subject is “Marketing High Technology” by William Davidow) for Product Marketing to hit its stride
Given how the disciplines evolved, product management and product marketing often have an uneasy relationship. So many functions can easily fall into each other’s bucket. There is even a well-respected product management body of knowledge called “Pragmatic Marketing”. So, it’s no surprise that many practitioners are confused about the proper roles between the two functions. And management is not making this easier by often times lumping the functions together and not properly defining the roles.
Product Management and Marketing’s Guide to Harmonious Co-Existence
So, what is a product manager and product marketer to do? Here are a few suggestions:
- Communicate, communicate, communicate. Reach out to your product marketing/product management counterpart(s). Do not wait for management to step in and suggest this. Seize the initiative.
- Clarify the roles and responsibilities up front. Especially if there is nothing already documented.
- Be flexible. Depending on the skill level and capability of your product management/marketing counterpart, you may need to adjust what your contribution is in order to ensure that there are no gaps.
- Remember you’re both on the same team and the real goal is to help your company reach its sales numbers.
The future of both disciplines is bright as the roles of product management and product marketing are critical to the development and marketing of successful products. Companies that can clearly define and embrace both roles are more likely to see better overall results in bringing sellable products to market.
Content marketing is about creating and distributing informative content that will help to convert prospects into customers and customers into repeat buyers. The goal is to gain opt-in permission from relevant target audiences to continually deliver content via email or other social media channels. Ongoing exposure fosters a relationship that provides multiple opportunities for conversion versus the “one-shot” all-or-nothing approach of traditional outbound marketing practices (such as, online ads, tradeshows or cold calling). Ultimately, the success of your content marketing plan hinges upon your ability to deliver content with independent value that builds trust, credibility and authority for your business.
If you don’t have a robust content marketing plan in place, now is the time to get one. Recent changes to the Google algorithm along with announcements that YouTube is entering the content creation game and Gmail’s addition of Smart Labels, which automatically sort out any kind of mass mailings highlight the fact that a sound content marketing plan has shifted from a “nice-to-have” to marketing essential in 2011.
- Google Dings Low-Quality Content Sites Although Google regularly changes its search algorithm with little recognition, the February 2011 change has definitely caught some companies off guard, devastating some websites’ rankings – and thus their traffic. Google made changes to reduce the high rankings of sites with duplicate content and low quality content (i.e., content farms with a low ratio of content to ads) on the search engine result pages. Companies with websites that had learned how to manipulate Google rankings (and were good at it) took a big hit. Google said the update was designed to provide better rankings for high-quality sites, those with “original content and information such as research, in-depth reports, and thoughtful analysis.”
- YouTube Becomes a Creator of Content If the changes to the Google algorithm isn’t enough to convince you that content will rule supreme in 2011 and beyond, then perhaps you will be impressed by the fact that YouTube has allocated $100 million to pay for the development of its own original content. This is no small bet. While the move was surely motivated by a desire to generate more profits from ad dollars, the interesting takeaway for B2B marketers is that online consumption of content is increasing and the playing field is leveling as consumers move away from traditional media outlets to whatever sources provide the best content.
- Gmail Allows Users to Give Email Marketers the Slip Google’s move to allow Gmail users to automatically filter out all bulk mailings (classified as any kind of mass mailing, including newsletters and promotions) emphasizes the fact that consumers are growing tired of the deluge of email. After years of spam and over zealous email marketing programs, consumers are looking for ways to reclaim control of their inboxes. Employing tricks to avoid the spam filters will no longer be sufficient. Moving forward, email marketers are going to have to earn their keep in the inbox or risk automatic exile into the dreaded bulk folder.
2011 Content Marketing Essentials
Search Engine Optimization
If you care about search engine rankings, Google has sent the message loud and clear, you better start paying attention to the quality of your online content. Sites that specialize in quality niche content (original and in-depth information on a focused topic) now rank better than sites with broad content on hundreds of different topics. This provides a great opportunity for B2B marketers. To capitalize on this shift, first consider what keywords define your business, then carefully evaluate every page on your site and get rid of the junk. Low-quality pages will hurt you – no matter what’s on the rest of your site. Next, focus on developing targeted content that is useful (let your keywords be your guide as to what is useful) and well written from top to bottom. If you can’t write great content yourself, hire someone who can.
Web Presence
The corporate website is often a company’s most tangible and visible face to the world. When properly executed, a website can become a powerful marketing tool that not only serves the needs of existing customers, but also provides an opportunity to capture new customers. To support your content marketing strategy (which relies on opt-in permission) your website must effectively engage visitors. Ask yourself the following questions: Are users encouraged to opt-in to marketing programs? Is a clear call-to-action present on every page? Is there sufficient incentive to opt-in? Remember, incentive is driven by the value of the content presented and trust in your ability to continue to deliver value. If possible allow users to select topics of interest and frequency of communications as part of your lead capture process. Finally, bypass bulk mail filters by reminding users to add your distribution email addresses to address books.
Marketing Automation
Once granted permission to engage prospects via email or other social media channels, be sure not to disappoint. Continue to provide relevant and meaningful content on a regular basis. Marketing automation tools help you categorize leads based on interests and actions so that you can continually provide targeted and relevant content. A “one-size fits all” approach can hurt your content marketing efforts and increase opt-out rates. Marketing automation tools offer you a wealth of information on demographics and response rates that should be used to guide your content development and distribution strategy. Pay specific attention to which types of content and topics perform well for each list segment so that you can adjust your strategy accordingly.
Social Media
A solid PR strategy that includes traditional and expanded social media engagement practices can help extend your reach. Remember that the purpose of content marketing is to engage prospects. PR announcements and media coverage can be used to create awareness and start the dialogue, but two-directional social media communications should be used to further develop the relationship. As Lorraine emphasized previously in her “Thought Leadership 101” blog post – to maintain the relationship, you must continually demonstrate understanding of the key issues, challenges, needs and requirements that truly concern your prospects versus spout off about your latest products functions and features. Use your SEO keywords as a guide on which social network conversations to join.
The Bottomline
Times have changed and so must you. Now more than ever, it’s time to re-evaluate your content marketing strategy and make a plan that will ensure favorable results based on solid content and intelligent strategy.
 We’re several years into the era of “Marketing 2.0” and I’m still surprised at the number of B2B technology companies that have not modernized their marketing approach. Just take a look at the websites of so many technology companies, small and large, and it clearly looks like they are stuck in the early 2000’s – or even (gasp)… the 90s.
While I don’t believe in doing trendy things just for the sake of doing trendy things (a.k.a. keeping up with the Jones’), I do believe it’s prudent to take stock of the most current marketing tactics – learn what’s working for companies in the same industries you serve – and implement the most impactful changes.
For decades now, marketers have been focused on traditional “outbound” marketing programs such as television and radio advertising, trade shows, direct mail, online banner displays, pop-up ads, email blasts and the dreaded telemarketing, to name a few.
However with the advent of social media marketing and the social web, a dramatic shift has occurred. Today’s customer no longer wants to be “sold” – instead they prefer to find products and services online on their own or through friendly referrals. This shift is called “inbound marketing” and focuses efforts on web optimization, content marketing, social media optimization and customer referral programs.
Here are some basic tips that should help bring you up to speed on 2011 marketing must-haves and provide a solid foundation for inbound marketing success.
#1 Web Optimization (including SEO)
The corporate website is often a company’s most tangible and visible face to the world. When properly executed, a website can become a powerful marketing tool that not only serves the needs of existing clients, but also provides an opportunity to capture new customers. Search engine optimization (SEO) is the process of making sure your business website is properly categorized in the search engines (especially Google) and comes up high in the search results. Another big ingredient of SEO is link building, or getting other relevant sites to link to yours. Although it has been around for years, SEO is still critical in making your business more findable on the Web. It is a long-term strategy, however, and the results may take time to kick in.
#2 Content Marketing
We’ve said it before but “Content is King”. Content marketing is about creating demand through compelling, highly relevant content. This is includes white papers, strategy guides, blogging, infographics, contributed articles, podcasts, videos, data surveys, news articles — anything that offers value to your target customer and helps differentiate you in the marketplace. This content, especially blog posts, gets picked up by the search engines and can help fuel your social media strategy.
#3 Social Media Optimization
Social media sites and associated spam are growing in volume every day as new-bees jump on the social networking bandwagon in hopes of growing their network and making a splash – or at least being heard. The key to successfully leveraging social media is to define the most appropriate channels and best ways to engage key audiences in the right environments, at the right time, with the right messages. This may include the major social networks (Facebook, Twitter, LinkedIn); specialty networks, such as Biznik; local directories, such as MojoPages.com and Kudzu.com; social bookmarking sites; video platforms; article directories and blog and forum comments.
#4 Customer Reference Programs
Word-of-mouth marketing is arguably the most powerful way to market your product or services. As discussed in a previous blog post, customer testimonials can greatly enhance the credibility of a company and result in increased sales, media coverage or add the fire to your viral social media campaigns. When customers talk favorably of your product or service, they send a free, credible and targeted marketing message. Customer endorsements can be used in one or more of the following marketing mediums: media/analyst outreach, collateral, social media and/or inclusion on the website.
It’s 2011 and marketing has changed, even in the world of B2B technology. Your customers have different expectations about how they want to find, buy and validate products. If your marketing tactics haven’t kept with the times, you may be missing out on lucrative sales opportunities. The good news is… it’s not too late to adopt an inbound marketing game plan to extend your marketing reach and win more business.
 Interview with Charlie O’Rourke, Financial Services Leader, former SVP of First Data and currently Chief Technology Strategist with the Fotec Group: “The Pros and Cons of Outsourcing”
Recent industry surveys reveal that more businesses are using outsourced services as a means of cost-cutting and potentially a strategic business productivity tool. In these studies, executives said they believe outsourcing can provide many benefits, including access to a valuable talent pool where a company may lack expertise.
We asked Charlie O’Rourke, one of the financial industry’s most respected and successful veterans, to give his insights around the growing outsourcing trend and provide some tips on how a company can be successful leveraging outsourced services while avoiding potential pitfalls.
Attain Marketing: We’ve seen more companies looking to outsourced services as a way of achieving their business objectives. In your opinion, is this a good trend for businesses and what benefits can they gain by outsourcing?
O’Rourke: Yes, I believe those companies that prepare themselves for outsourcing can benefit immensely as part of an overall business strategy.
First, let me clarify what I mean for our purposes here today. To me “outsourcing” is a practice used by companies of contracting out some of their business functions to an external provider. For the purpose of this discussion, I am referring to outsourcing as the utilization of hired resources inside U.S. borders.
While I agree there are benefits that a business can gain from outsourcing, there are also potentially huge downside risks of incorporating outsourcing without proper evaluation of its practice within a company.
Outsourcing is not something a company should embark upon simply for cost savings, recommendations from others, or without a critical eye toward the potential outcomes and whether outsourcing fits within their overall business strategy.
I realize expense reduction is often a very significant factor. However, other considerations are just as or even more important. A proper corporate outsourcing readiness evaluation would include, among other things, assessment of the company’s strengths and weaknesses, core competencies, culture, traditions, and vision for the future. When a company’s strategies are well defined and aligned with a vision toward the future, they will include how to utilize outside resources to augment and complement business objectives.
If there is no strategy and strict oversight, outsourcing may end up costing your business more in the end. Additionally, it could possibly destroy effectiveness in other areas such as agility, flexibility, customer service quality and competitive advantage.
However, if consistent with its strategic objectives, incorporating outsourcing of appropriate business functions can provide a company with the ability to better focus on its core business and gain competitive advantage at the same time.
Attain Marketing: Should businesses have concerns about outsourcing certain business functions? In other words, are there “best practices” around outsourcing?
O’Rourke: Someone once told me that if everyone is adopting a “best practice” you can bet that it is no longer the best. Now that the “best practice” is well understood, it is a perfect opportunity for consultants to provide textbook solutions and cookbook remedies while extracting nice fees for their services.
Mindlessly following “best practices” because they have been used at a Fortune 500 company, are the newest fad, everyone is adopting them or they are the rage for consultants nowadays, may not be in a company’s best interest. Each strategic and tactical practice needs an evaluation with a critical eye on your company objectives. Specifically, the practice should fit strategically, operationally, and culturally in your company.
It is unwise to “copy” or “clone” another organization’s recipes in terms of strategy, business theory, management tools or technologies. Only when you understand your culture, values, purpose, strengths, and direction should you consider which business functions are eligible for outsourcing.
Each company has unique requirements and needs to evaluate which practices are “best” for its business, culture, and customers.
If I were to give general guidelines for outsourcing, I would say companies should retain their core functions in house and then look to outsourcing those business functions that are noncore. That is the simplest guideline I can give. Although often difficult and time consuming, proceeding without a diligent assessment will guarantee less than optimum results and possibly failure.
Attain Marketing: What are some of the business functions that are best suited for outsourcing?
O’Rourke: Given some of the caveats above, some logical places (unless of course a core competency) to look may include functions in human resources, administration, accounting, marketing, public relations, communications and legal.
There will be many others depending on the company and each business will have to decide on the criticality and impact of outsourcing in a particular area.
Attain Marketing: Being marketers, of course Attain is interested in your thoughts about outsourced marketing and PR services. Are there advantages?
O’Rourke: I believe companies like Attain can definitely enhance a company’s marketing, media relations, and communications capability.
Small companies are obviously going to benefit quite a bit by using companies like Attain because they typically do not have sufficient, or in many cases, any expertise, talent and skills to effectively perform many of the required functions in these areas.
In the case of larger companies, the ability to utilize outside marketing expertise often times yields tremendous advantages.
I believe a company can achieve optimum outsourcing success when it embeds the resourced personnel with their internal employees. They assimilate into the culture and have the same objectives as others in the corporation. They understand the company values, culture, strategies as well as the industry, the business, and the company’s products and services. They serve as an expert member of teams, departments, or divisions of the company.
Attain Marketing: Well said Charlie, and many thanks for the unsolicited plug  .
I’d like to add, potential advantages gained through an outsourced marketing team include access to an expanded list of analyst and media contacts, specialized public relations and marketing tools – as well as expanded services that may be limited or not be available at all within a company.
In addition, an outsourced team of marketing/PR specialists can provide an expanded scope of services in the categories of lead generation, sales support, social marketing, communications and media relations – possibly at the same cost as one or two internal employees who are providing a more limited scope of services defined by their specific role.
Any last thoughts?
O’Rourke: Companies that are too quick to outsource business functions as solely an expense reduction often suffer negative consequences. Lower cost is always alluring but results may be much different than expected. Companies should adopt an outsourcing plan that fits within their overall strategies. This will yield results that are consistent with their direction and that do not negatively affect the company.
Again, I want to emphasize that company culture is very important. Culture is often overlooked in the total equation. The ability of a company to accept outsiders and embed them into the business is crucial. Outsourcing will fit in some cultures but not in others.
I believe outsourced marketing is an area that makes sense, especially when outsourced personnel become an extension of the client’s in-house marketing, public relations, and public relations teams.
Attain Marketing: Many thanks, Charlie, we appreciate your input.
Today we’re seeing many companies turning to outsourcing as a way to deal with budget restraints while staying competitive in a sluggish economy. Smart companies know that they can’t stop their marketing activities – especially if they plan on establishing healthy longevity in their business, so they see outsourced services as a great way to leverage talent and stay proactive.
For this week’s blog post, I’ve asked long time colleague, friend and community expert, Rachel Medanic, to write about the challenges companies face keeping an authentic voice in today’s “always on” world. Rachel has been a marketing pro for over 14 years and currently is a Community Manager for the Cisco Learning Network. For more insights into marketing from someone who always “keeps it real” you can read Rachel’s personal blog.
 Thanks to social media and the power of the searchable web, the era of the authentic voice has arrived and our customers are demanding it publicly using their voices. In his blog post, Keith Ferrazi apologizes and speaks honestly about his overly aggressive marketing campaign to which his customers responded negatively. Their responses all told him he’d failed to use an authentic approach in his communications campaign. The authentic voice is a proactive approach companies can choose as they embrace all the new realities social media is exerting on customer relations and the practice of marketing.
I recall first feeling the need for an “authentic voice” in 2001. After 7 years in technology as a marketer describing customer “solutions” “platforms” and “implementations,” I longed for something more authentic, but I wasn’t sure how to achieve it. In truth, these words (sterile and impersonal as they are) have become a tried and true way of communicating. They have a place and serve a function. But with the turn of the Millennium, the new social mediums such as blogs/micro-blogs, wikis (online communities and collaboration), podcasts and video have quickly expanded the number of channels with which we must engage to reach our target audience. The din of competitive messages and voices is now a roar of billions of voices around the world.
As marketers this more than triples the amount of work we must do and as a result (intentional or not), some of us have let the unthinkable happen: we have allowed these sterile messages and this impersonal tone appear in our company blog posts and in communications with our online communities. We’ve told ourselves that if it doesn’t have a voice or a persona, or that if it is vague and doesn’t tell the customer what is really going on, it must be a safe investment for our brand. Perhaps some of us are ignorant about using social media in business, we have stifling corporate communications policies or we anticipate and fear negative consequences for using a more genuine and human way to communicate.
But what masquerades as safe and sanitized messaging now no longer is as credible with customers because it lacks authenticity. In addition, social media demands interactive communication, participation and upkeep. The fast-paced, highly interactive social media driven world is truly an exciting circumstance for us to thrive in professionally as marketers. We get instant feedback, but along with that comes the need to be able to respond quickly and to accept that we may have failed and will be told so directly by our customers rather than by a bad click through rate. As Lorraine wrote in her blog post, Keeping it Real: Marketing Success Tips for 2011 and Beyond, “…it’s always better to be honest about mistakes…” Mistakes or even just bad marketing choices don’t have to be something we hide.
In 2007, I began working with online communities. What I have learned most from community work is it that honesty (especially where policy and practices that pre-date social media proliferation are concerned) has the ability to earn respect from customers who know businesses are still evolving to align social media practices and expectations into the way they do business. Customers who have embraced and who use social media at the speed it allows for sharing information work quickly, expect a lot and can often effect change faster than businesses can create solutions. In community work we can match them by bringing our real selves and company policies to the table—openly—even if it is just to say, “Please be patient, we are working to revise our policies to your expectations, but this will take some time.” Show your customers that your company is making the effort and keep communicating. For those customers who haven’t embraced social media, they are also still adapting to all the new possibilities it presents.
Keeping up in the social media world is a fast-paced game, but if we invest early on in an authentic voice and honest communication, we will be protected when bad situations arise.
 I recently dusted off my copy of “The Seven Habits of Highly Effective People” by Stephen R. Covey and was refreshed again by the book’s tried and true principles. In the new world of social networking with 24/7 Internet and mobile feeds screaming “look at me”, “hear me”, “pay attention to me” − scattered with fake testimonials and other dubious schemes meant to manipulate Internet rankings, it can be difficult to believe that doing anything “old school” can reap results. Forgive me for what may come off as preaching, but I, like Covey believe there are timeless truths that when properly applied to all facets of life will yield lasting results that don’t fade with the latest and greatest fad.
“Personality Ethic” is Covey’s description of the recent paradigm where success has become more of a function of personality, of public image, of the use of more shallow tactics to drive human reaction vs. applying genuine principles, what Covey calls “Character Ethic” to achieve results. Covey states, “the glitter of the Personality Ethic, the massive appeal, is that there is some quick and easy way to achieve quality of life − personal effectiveness and rich, deep relationships with other people− without going through the natural process of work and growth that makes it possible. It’s symbol without substance. It’s the ‘get rich quick’ scheme promising ‘wealth without work’. And it might appear to succeed – but the schemer remains.”
I believe building fruitful relationships with media, bloggers, partners and customers is a process that inevitably takes an investment of time and effort to produce real and effective results. Ultimately it is Covey’s principle of “Character Ethic” rather than “Personality Ethic” that will help companies achieve superior long-term results in their marketing efforts.
If you decide to follow Covey’s higher path of “Character Ethic”, here are a few ideas on how to get started…
- Build a Genuine List of Social Networking Followers/Fans: As much we’d all like to automate social networking – and there are great tools that help this process – beware of programs that build your follower/fan base on autopilot. It’s really not about the number of followers, but rather their relevancy to your business and loyalty that counts. Taking shortcuts may seem to increase popularity more quickly, but thoughtful and personal communications build genuine relationships over time.
TIP: When someone becomes a fan or follower, don’t send a self-serving automated message − take the time to send a personalized “thank you” note. This is the opportunity to make a first impression that is meaningful and demonstrates your genuine interest in the person/company that is following you.
- Toot Someone Else’s Horn: If possible, it seems the self-importance of individuals and companies has become even more inflated with the advent of social networking. If you want to take a fresh approach, drop the “it’s all about me” approach and become the advocate of your industry peers and customers. Use air time to promote their achievements and accomplishments in addition to your own. In Charlotte’s Web, it was the “humble” pig that amazed everyone, won the blue ribbon, and saved his own life in the end. Take the time to be genuinely concerned about your contacts and their specific interests and they will become faithful followers in the end.
- Adopt a “Win-Win” Approach to Customer/Partner Relations: In my previous blog “Tried and True Strategies for a Prosperous 2010”, I noted that many companies fail to engage their customers and partners because they do not present a compelling value proposition. Self-centered requests often fail while successful programs are based on answering the customer’s question of “What’s in it for me?” Recently Google changed their search engine ranking criteria and added customer feedback as a key component of how companies are ranked. As you can imagine, this has spawned a variety of schemes that help companies improve their online reputation with fake customer ratings and phony feedback. Despite the allure of such shortcuts, the best strategies require you to build customer loyalty with good products and excellent customer service throughout the sales cycle.
- Honest Communications, always: Many companies have learned the hard way, but it’s always better to be honest about mistakes than to cover or lie. And with online communities, chat boards, Twitter, citizen journalists, and the likes, it’s only a matter of time before truth gets out. People and customers are much more forgiving of companies that are willing to air any dirty laundry before they find out themselves – everyone makes mistakes, so own up to them quickly. A reputation of integrity and honesty will stand the test of time and companies that build their brand around such principles will be rewarded in the long run.
So may we all find the time during the holiday hustle and bustle to reflect on what “Character Ethic” principles we can apply that will help shape our businesses and lives to make 2011 the best year yet.
 A lot of companies tend to see the holidays as dead air time, some even shut down their PR efforts altogether. The truth is the time period between Thanksgiving and the New Year presents an opportunity to leverage the perceived news lull with a year-end or year-beginning storyline. Often editors and media outlets are looking for interesting ideas to fill their “pages” during this holiday down time. Also, with the general slow-down in corporate productivity around the holidays, more people are reading news sites, blogs and following social media channels than during busier times of the year. So smart holiday PR campaigning can be a powerful way to get your company noticed.
The most important key to effective holiday campaigning is to leverage popular trends and storylines. Even if your product is a nerdy, seemingly non-interesting component in the technology stack (hey, not everyone is marketing a mobile phone), look for the larger story lines you can connect to or comment on. This may require thinking outside of the box but it always can be done.
Perhaps you can leverage a partner or customer to jointly address an interesting angle or co-sponsor a year-end study. The holidays are great times to announce results of surveys or make predictions about New Year trends. This is also the time to consider something a little more catchy or gimmicky as these types of news stunts often seem to fit in better with the sense of sensationalism surrounding the holiday season.
Here are some more important tips for great holiday campaigns:
Be believable – You can claim that any pitch is related to the holidays, but that doesn’t mean an editor will believe it. In order to achieve the best success, there must be a valid, relevant holiday tie to your story idea. Are you working with an expert source who can predict trends that relate to the Christmas season? Do you have a customer or partner that offers a great product perfect for holiday shoppers? These are the sorts of things that make for successful holiday pitches.
Start early – The most important thing to remember when pitching based on a certain holiday is to do it well in advance. Many pubs have their Christmas content picked out early, so don’t delay. If you start early enough you can also leverage editorial calendar opportunities to add momentum and additional stories to your PR campaign.
Finish late – While you should do your initial holiday pitching in advance, it can also be effective to do some additional outreach directly before the holiday. Many reporters will be out of the office or already done with their holiday stories, but the ones who are not may be more likely to read your e-mail or take your phone call because they won’t be receiving as many as usual. At a minimum, this is the perfect time to do some true relationship building and spreading of genuine holiday cheer.
Stand out from the crowd! – Bad holiday pitches can be like hearing “Jingle Bells” one too many times – painful. Best case scenario is you’ll be forgiven but worst case is you’ll leave a bad impression on your editorial targets. Personalize your pitch. Include a clear and attention-getting subject line. Don’t include an overabundance of unimportant information. Clearly communicate why your story idea is truly relevant and better than the rest – which of course includes name dropping and credibility points to substantiate your pitch.
If thoughtfully crafted and executed properly, holiday campaigns can be a very effective way to keep PR momentum going through the holiday lull while possibly netting some great attention you might not otherwise have received.
 For this week’s blog, I asked longtime PR pro, Staci Busby, to share her insights on crisis communications, a very important topic that inevitably must be faced by all companies and their communicators. With more than 20 years working in corporate, non-profit and agency environments, Staci Busby is an accredited Public Relations Counselor who has led crisis communications teams through a variety of issues and crises, ranging from employee murders, picketing and triple swipes on debit cards to E. coli poisoning, natural disasters and significant layoffs.
Oil spills, toxic sludge slides and mine disasters… now what? We’re confronted with major disasters regularly. How we handle these crises for our employers can make or break their reputations.
It’s always interesting to read the opinion pieces after a catastrophe occurs. “I would have done this.” “They should have done that.” The truth is we all would do better in hindsight. So the best we can do is learn from our experiences and mistakes, (ours and others), and be as prepared as possible when a crisis does hit.
Although in a crisis situation we’re usually forced into a reactionary mode, it is possible to plan ahead by creating a basic process to follow so that you are not blindsided when a tragedy occurs. I’m not an advocate for filling your bookshelves with plans for anything and everything that might happen, but I do believe it’s important to brainstorm possible threats and develop a simple guide that will help you and your company endure potential crises.
You may find volumes of valuable information to help you predict, plan, practice and prepare for the unthinkable; but it’s rare to find a simple, practical guide to use once a crisis hits, so here are a few simple tips to keep in mind.
- First, when a crisis hits, take a deep breath and clear your mind so you can focus on the specific issue you are facing and determine its magnitude. It’s hard to think during a crisis, particularly if people are injured or killed. Use the simple guide you’ve already developed to help you focus on steps that need to be taken.
- Next, gather the facts and develop key messages. Uncover the who, what, why, when and where of the crisis – without speculation, rumor or innuendo. Then, flesh out the basic messages regarding the situation.
- Third, identify key audiences (investors, employees, customers, any government officials, media, etc.) that need to be informed. You can tailor your messages to the relevant audiences based on what is most important to them. For example, if a crisis occurs that is not publicized by the media, you may still send a letter to employees explaining the situation. However, it’s always important to be prepared to respond if the press becomes aware of the situation, or you may choose to work with key members of the media to disseminate your message to a particular audience.
- Next, identify a limited number of spokespeople, ensure they are familiar with the issue and prepare them to deliver the key messages. Consistent messages are critical because they can minimize confusion and help an organization maintain credibility during an emergency or crisis situation. It’s essential that the spokesperson represent a unified voice for the company.
- Determine the most effective method of communicating to each audience. A letter or e-mail to employees may be the best way to handle an internal issue. However, if it is an issue with public consequences, you may decide to respond with a written or verbal statement delivered by an authorized spokesperson. When contemplating the method of communication, always consider the extent of the situation, the audience and the impact it may have on the company.
- Now, communicate. How, what and when you communicate to whom can affect the impact of the situation, positively and negatively. The quicker you communicate clearly to your selected audiences, the fewer rumors you have to dispel. Quickly communicate how the crisis will be resolved and what steps you will take to prevent it from happening again. If the resolution is a long process, offer some checkpoints as to when you’ll be updating your target audiences about your company’s progress.
- After the initial response, remember to monitor the results of public statements. What is being reported? How are employees/customers/investors feeling about the crisis? Are your messages being delivered? Are questions being answered? If your messages are not clear, or are misinterpreted, you may need to adjust the statements accordingly. Stay on top of how the media reports the crisis. Be sure to correct factual errors quickly, so that they are not repeated. In the age of social media, it’s important to have a way of monitoring online chat and responding via selected channels if deemed appropriate.
- Assess initial reaction to the crisis and review new information. Once the heat of the moment subsides, the tendency is to move on to other business matters. While the end goal is to resume normal business operations, it is important to stay with a crisis situation until it has been resolved completely and there is no new information to report. Crises often evolve, so you should continue to review communications until the threat and discussion subside completely.
- Next, determine whether additional communication is needed. Think about employees, customers, investors and other audiences who may take comfort in receiving an official communication informing them that the situation is resolved.
- Finally, remember to evaluate the effectiveness of your crisis communications process by asking these questions:
- How can we prevent this from happening again?
- How can we improve the crisis/issues management process?
- What went right? What went wrong?
- How should we revise our guide based on what we’ve learned?
- What did we need at our fingertips that wasn’t available?
This is where “I should have; I could have” comes in handy. Learn from each issue or crisis and apply those lessons to your ongoing planning process.
Remember, it takes years for a company to build a solid reputation and seconds to destroy it. When a crisis hits, the people involved in handling the fallout have very little time to think and often have difficulty thinking clearly, depending on the magnitude of what has happened. Having a simple plan and following basic steps to communicate will help insure your company keeps its reputation intact no matter what type of crisis it is facing.
 2010 has been an exciting year for technology innovators as we have seen venture capital investments flow back into the market. As a result many of our clients find themselves in the process of courting investors to fund their new ventures. Thus the topic of “how to put together a successful investor presentation” has been top of mind. Today’s blog provides guidelines for putting your best foot forward with a polished and persuasive presentation that will help quickly grab the attention of potential investors.
Before you start your presentation it is important to consider the motivations of the audience you are addressing and align your messaging appropriately. Venture capitalists invest in companies that they believe have the best chance of producing a return on investment, so the sole purpose of your introductory presentation is to convince them that an attractive market opportunity exists and that your company is well positioned to capture a large percentage of that market share.
It is important to remember that investors are not first and foremost a technical audience. To grab this audience’s attention you must first sell them on the potential revenue opportunity in the market/s in which your company is serving. After you establish the attractiveness of the market, they need to clearly understand the value proposition of your company, the solution you bring to market and why you have an advantage over other companies in the space. What they don’t need at this stage is a technology drill down with complicated charts or confusing industry jargon.
Most important, you must not come across as a solution looking for a problem. Your business needs to be solving problems for its customers. Investors rarely fund companies that provide “nice to have” products and/or services. Potential investors must be convinced that the demand your solution is real, in that the target market cannot grow without your product/solution.
The following is a suggested outline to help you structure a successful investor presentation. The ideal presentation should be about 30 minutes and allow for Q&A to drill down on topic areas most interesting to the specific investor/s.
- Market Need and Business Model – This is the most important slide and needs to capture the investor’s attention right out of the starting gate. State what problem your solution solves and how you make money from it. How critical is the market problem and what is the impact of your solution? Highlight market buzz words and trends.
- Industry and Market Overview – Overall size of the target market, growth, and expected penetration. Include references to industry analyst reports or other 3rd party sources for credibility.
- Product and/or Service Offering – What do you offer, how do they solve the customer’s problem, what validation do you have of their acceptance by potential customers and their effectiveness?
- The Management Team – Who are they, what are their areas of expertise, and their past successes. Include your key managers, directors, and advisers. The strength of your management team is absolutely critical to your business success and your ability to raise investment capital.
- Strategic Partners – Partners bring credibility (especially big name partners) so be sure to include any company that has bought into your vision tor will help you establish a competitive advantage.
- Competition – Who are they and what kind (large incumbents, other startups, substitute solutions)? What are their strengths and weaknesses? What are the barriers of entry in general to new competitors in your market?
- Competitive Advantage – Explain your sustainable competitive advantage and how you differentiate yourself. What barriers to entry have you already overcome that will make it more difficult for other competitors to enter the market? Will you be able to patent your technology to defend territory?
- Marketing Strategy – How will you sell and market your solution? How do you make money? What are your sales and distribution channels? What markets will you target? Who is the buyer? What key problems are you solving for the target customer?
- Financial Expectations – What is your basic financial strategy in terms of revenue streams and margins? What is the plan (path) for making the business profitable? When will the business be self sustaining (cash flow positive)? Why are your revenues forecast to increase each year?
- Funding Request – How much has already been raised (invested) in the company? Who are the current investors, their ownership shares, and composition? How much funding are you seeking now? What valuation are you assuming for the company for this funding request? Discuss any future rounds of capital that the company expects to require. Have a detailed slide of how you arrived at the valuation available for the Q&A session.
- Use of Funds – How will you use the funds (be detailed), when do you forecast the various expenditures to occur, and how much?
- Exit Strategy – What is the planned exit strategy and when? If the plan is a sale then who are the likely buyers and why? What is the forecast valuation of the company at the exit point? What is the investors expected return on their investment?
With renewed interest in technology innovation by investors, it’s a great time to pursue funding – just make sure your first meeting/presentation is a good one – with the number of companies vying for money, it may be the only opportunity you have.
 A few weeks ago, I participated in a Webex with CompuCom. I was actually impressed. Their presentation on Microsoft licensing was excellent. They had all of the elements of Microsoft’s latest licensing options packaged together in a consistently formatted, modular structured, and seamlessly flowing presentation. Several different SME’s presented each module, including one presenter from Microsoft financing.
With Windows 7 gaining momentum and virtualization now mainstream, every IT manager is getting educated on how Microsoft’s models will impact their IT operations and, just as important, their IT budgets. I’ve got to hand it to Microsoft. It looks like they’ve delivered a string of winners with Windows 7, Windows Server 2008 R2, Hyper-V, and Office 2010. But what puts them within reach (within budget), and what puts Microsoft over the top, is their financing options for enterprises.
In essence, the Microsoft financing presenter said, “Have it your way.” Yes, they do offer their standard financing packages but (and this is a big BUT), if one of those doesn’t fit, tell them how you want to do it and they’ll work with you. This is a play right out of Burger King’s marketing playbook and makes them very appealing to cash-conscious IT managers. Brilliant? – maybe so.
What’s most appealing is the option to structure your financing in the way that you prefer. This “have it your way” approach gives the IT manager a lot of flexibility to meet the needs of their enterprise, yet maintain their conservative budgets in a still somewhat questionable economy. From an IT Manager’s perspective, it’s the best of both worlds. We get to deploy the latest software and keep the budget under control.
I hope this customer centric approach by Microsoft signals the start of a new trend in technology product marketing – where vendors actually listen and respond to the needs of their customers. What a great concept. If other technology vendors would follow suit, they may be able to make more sales and we could have the IT infrastructure revamped and ready for the full economic recovery when it finally arrives. That’s what I call a win-win proposition.
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