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	<title>The PRagmatist &#187; Marketing</title>
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	<link>http://www.woolfmedia.com/wordpress</link>
	<description>Practical Thinking About PR and Communications from Woolf Media &#38; Marketing</description>
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		<title>Is SEO Migrating from Keywords to Brand Search?</title>
		<link>http://www.woolfmedia.com/wordpress/2011/12/is-seo-migrating-from-keywords-to-brand-search/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/12/is-seo-migrating-from-keywords-to-brand-search/#comments</comments>
		<pubDate>Thu, 01 Dec 2011 22:27:01 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Market Trends]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tools & Techniques]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/?p=1097</guid>
		<description><![CDATA[In our last blog entry, we highlighted some of Roger McNemee's predictions for the future, one of which is that indexed search is on its way out. Whether or not Google will dominate search a decaded from now is in question, but for now Google is the king of search, so how they optimize search matters.]]></description>
			<content:encoded><![CDATA[<p>In <a href="http://www.woolfmedia.com/wordpress/2011/11/where-is-the-internet-going-roger-mcnamee-says-the-future-is-in-engagement/">our last blog entry</a>, we highlighted some of Roger McNemee&#8217;s predictions for the future, one of which is that indexed search is on its way out. Whether or not Google will dominate search a decaded from now is in question, but for now Google is the king of search, so how they optimize search matters.</p>
<p>Here is an interesting infographic care of <a href="http://www.siliconvalleywatcher.com/mt/archives/2011/12/did_google_kill.php?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+SVWatcher+%28Silicon+Valley+Watcher%29&amp;utm_content=Google+Feedfetcher">Silicon Valley Watcher </a>on the latest iteration of search, and therefore SEO. I wanted to share the attached infographic which demonstrates how Google is changing its thinking about search.</p>
<p><a href="http://www.seobook.com/learn-seo/infographics/longtail-fail.php"><img src="http://www.seobook.com/images/google-longtail-infographic.png" alt="Google Longtail Keywords." border="0" /></a></p>
<p><a href="http://www.seobook.com/learn-seo/infographics/">Infographic</a> by <a href="http://www.seobook.com/">SEO Book</a></p>
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		<title>Engage! Social Media Works for You When You &#8220;Keep it Real&#8221;</title>
		<link>http://www.woolfmedia.com/wordpress/2011/11/engage-social-media-works-for-you-when-you-keep-it-real/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/11/engage-social-media-works-for-you-when-you-keep-it-real/#comments</comments>
		<pubDate>Mon, 14 Nov 2011 04:57:20 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Networking]]></category>
		<category><![CDATA[Social media]]></category>
		<category><![CDATA[Tools & Techniques]]></category>
		<category><![CDATA[Best PR Practice]]></category>
		<category><![CDATA[conversation]]></category>
		<category><![CDATA[engage]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[linkedin]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/2011/11/engage-how-to-be-the-life-of-the-online-party-line/</guid>
		<description><![CDATA[If you remember these simple guidelines as you engage online, your social media conversations will be more satisfying, and ultimately more profitable. Don’t shout. Engage.]]></description>
			<content:encoded><![CDATA[<p>Social networking is more art than science. I try to instruct my clients in social networking techniques,and some have a natural affinity for it while others are, shall we say, socially awkward. Using Facebook, LinkedIn, and Twitter effectively requires a certain knack; a natural affinity for communicating online and keeping your followers engaged while staying on message. Here’s an example of one lady who has that affinity.</p>
<p>I had the privilege of meeting <a href="http://kathleenflinn.com/">Kathleen Flinn</a> at a book signing a few weeks. Kathleen is the author of two books, <em><a href="http://astore.amazon.com/kathleenflinn-20/detail/B004HUKN7E">The Sharper Your Knife, the Less You Cry</a></em> about her adventure studying at the Cordon Bleu, and her new book, <a href="http://kathleenflinn.com/books/"><em>The Kitchen Counter Cooking School</em></a><em>,</em> where she takes a step outside the “food bubble” to help nine homemakers become fearless cooks in their own kitchens. My wife had served as Kathleen’s Bay Area escort on her previous book tour and Kathleen not only remembered her but was genuinely excited to see us at her new book signing, which is what makes her so good at social networking. She is genuinely interested in people and it comes across online.</p>
<p><a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/engage_cartoon.jpg"><img style="background-image: none; border-bottom: 0px; border-left: 0px; margin: 0px 6px 0px 0px; padding-left: 0px; padding-right: 0px; display: inline; float: left; border-top: 0px; border-right: 0px; padding-top: 0px" title="engage_cartoon" border="0" alt="engage_cartoon" align="left" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/engage_cartoon_thumb.jpg" width="244" height="165" /></a>I have been following Kathleen online for some time and am very impressed with her social media approach. She is not pushy or obnoxious, but maintains a real dialogue with her followers that is sincere, interesting, and always on message. She is interested in all aspects of food, but not as a “foodie” or a food snob, but as good cooking and everyday foods can be transformed into great cuisine by any cook willing to wield a knife. She uses her blog effectively, finding topics that are interesting, personal, and always worth reading. And she uses her blog to feed her Facebook page and other social media to build her following. I, for one, started looking forward to seeing her new book long before it’s release because Kathleen was very good at sharing little insights here and there. She never overly flogs her books, but you always know where she is and what she’s up to, and following her online promotes a level of interest and intimacy I don’t get from many so-called social media experts.</p>
<p>So how do you promote your own social media following? Be genuine, but also avoid being the online boor. Here are some of the basics that everyone needs to remembers about being genuine through social media, with thanks to <a href="http://gigaom.com/author/alizasherman/">Aliza Sherman</a>, who <a href="http://gigaom.com/collaboration/10-golden-rules-of-social-media/">originally compiled a variation of this list</a> for <a href="http://gigaom.com">GigaOm</a>:</p>
<p>1. Respect the medium. Remember that the Internet is an information tool that was not originally created as a collaboration tool, not a marketing medium. Successful use of the Web requires that you respect the spirit of the Web; it’s about collaboration not hard-sell advertising.</p>
<p>2. Listen. The biggest mistake people make when they use social media is they assume it is a broadcast medium. It’s not. It’s about collaboration and conversation, that that means listening first. Listen to the conversation threads. Determine what is appropriate and what is not. Get a better sense of what people are saying and what the tone of the conversation feels like before you barge in with new information or an expert opinion.<a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/engage.jpg"><img style="background-image: none; border-right-width: 0px; padding-left: 0px; padding-right: 0px; display: inline; float: right; border-top-width: 0px; border-bottom-width: 0px; border-left-width: 0px; padding-top: 0px" title="engage" border="0" alt="engage" align="right" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/engage_thumb.jpg" width="244" height="164" /></a></p>
<p>3. Add to the conversation. Don’t just appear, post your piece, and log off. Engage! Add value! Promote conversation within the community. Remember, in most circles, hyping your product or service doesn’t help anyone but you.</p>
<p align="right">4. Be responsive. Remember conversation is continuous. Answer questions. Respond to comments. Be timely in your response. In other words, respect your visitors and followers by actually listening and talking to them.</p>
<p align="right">5. Share with others. The Web is a global medium that allows everyone access to valuable information. Share your information, time, and inspiration to fuel conversation.</p>
<p align="right">6. Credit where credit is due. Share other people’s ideas but give them credit. Repost and retweet to add to the conversation (not to promote spam) and be sure to give credit to the source.</p>
<p align="right">7. Don’t be a spammer. Spam will inevitably isolate you from the conversation. It’s impolite, and it’s dumb. Don’t just hype your wares, but talk about what you know, politely and in the context of the conversation.</p>
<p align="right">8. Be authentic. Authenticity is the key to social media success. If you represent a brand, you can still be authentic in your conversation without violating the integrity of the brand. Just be real. Admit your fears and flaws as well as your successes. Be interesting by being authentic.</p>
<p align="right">9. Collaborate, don’t compete. The idea is to add to the conversation, not to outshout the other guy. Try to find ways to get together to expand the reach of the conversation so everyone benefits. There’s room for everybody.</p>
<p align="right">10. Practice social responsibility. If you do good, you will get good in return. Embrace the authenticity that the web has to offer to not only expand the conversation, but to <a href="http://mashable.com/follow/topics/social-media-for-social-good/">help others</a> seeking insight and information. Don’t just sell your stuff. Find ways to give back to the greater community by doing good. You can help spread the word and make your corner of the Web a little better.</p>
<p align="right">If you remember these simple guidelines as you engage online, your social media conversations will be more satisfying, and ultimately more profitable. Don’t shout. Engage.</p>
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		<title>Why the RFP Is Antiquated</title>
		<link>http://www.woolfmedia.com/wordpress/2011/11/why-the-rfp-is-antiquated/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/11/why-the-rfp-is-antiquated/#comments</comments>
		<pubDate>Fri, 04 Nov 2011 20:08:25 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Public Relations]]></category>
		<category><![CDATA[Tools & Techniques]]></category>
		<category><![CDATA[B2B]]></category>
		<category><![CDATA[business development]]></category>
		<category><![CDATA[PR best practice]]></category>
		<category><![CDATA[proposals]]></category>
		<category><![CDATA[quote for proposal]]></category>
		<category><![CDATA[RFP]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/2011/11/why-the-rfp-is-antiquated/</guid>
		<description><![CDATA[The challenge with trying to complete a Request for Proposal is that the prospective client has already thought-through their needs for you and you have to plug your services into their template, which means you automatically start at a disadvantage.]]></description>
			<content:encoded><![CDATA[<p>I have been spending a good portion of my work day today working on a marketing Request for Proposal (RFP) for a local educational institution. While I have been reviewing this RFP in detail, I have been reading between the lines, trying to determine what has been predetermined. What were the assumptions that went into creating this document? Did they already decide that the end product needs to be green or the program targeting left-handed people? What vital part of the back story have they failed to include? </p>
<p>The challenge with trying to complete a Request for Proposal is that the prospective client has already thought-through their needs for you and you have to plug your services into their template, which means you automatically start at a disadvantage. They are looking for an expert to solve their problem, but through the RFP process they have already defined their problem in a way that they have already decided on a specific solution and so they are looking for a vendor to provide that unique service. If you don’t fit the solution profile, you are out of the running before you can show what you bring to the problem.<a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/Dilbert_bid.gif"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; float: right; border-top: 0px; border-right: 0px; padding-top: 0px" title="Dilbert_bid" border="0" alt="Dilbert_bid" align="right" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/11/Dilbert_bid_thumb.gif" width="530" height="166" /></a></p>
<p>But does it make sense to start with a well-defined set of assumptions in the form of an RFP? When you structure an RFP, are you asking for what you really need, or has the RFP process already boxed you into the wrong corner before you even start? Let’s consider the following example:</p>
<p>A company is struggling to build its sales pipeline. What are they going to do? The head of sales and marketing decides that a kickass advertising campaign is needed to raise market visibility, since the company is new to the market. So they put out an RFP for an ad agency and hire a creative award-winning firm. The firm develops the kickass campaign that gets lots of visibility, a lot of comment in social media and at trade shows, wins a few awards, and helps make the company a household word. However, the phone doesn’t ring and the client company doesn’t get email requests for sales information. They defined their problem – lead generation – and then defined the wrong solution to the problem – advertising. Instead, they should have gone to different marketing creative firms and asked for help with lead generation. In return, they would have gotten more creative proposals with a blended strategy of branding, direct marketing, and prospect outreach that would have added contacts to the sales pipeline. </p>
<p>Or consider the RFP I am currently working with. The assumptions are extensive and the proposal spans a broad range of activities. But is all that activity really necessary? What is the real objective – something that is not clearly spelled out in the RFP. Is it to recruit new students, help with fund-raising, increase community awareness, increase market awareness, or all of the above? If it is all of the above, what is the order of priority? </p>
<p>Through the RFP process, this institution is working on the assumption that they need EVERYTHING, from advertising to PR and social media. But is that an effective use of their budget? And would it make more sense to segment this process into multiple proposals so you can find the best-of-breed service providers for each component: advertising, PR, social media, direct mail, etc? (Let’s face it, no one agency can do all these tasks well.)</p>
<p>So by starting with an RFP process, the company or organization is limiting its options. Rather than trying to define the solution to their problem and shop for vendors to provide the solution, why not solicit expert help in defining their problem as well as the solution?</p>
<p>Okay, there is a risk here. If you bring in various agencies to help you define your problem, the agency will define their problem in terms they understand, and can solve. For example, if you ask an ad agency to help build sales, they will look at the problem in terms of market awareness and offer an advertising-driven solution, since that’s what they know how to do. You ask a PR firm for help with the same problem then you get a PR proposal to address sales growth. However, if you have a smart firm or multiple firms bidding on the same project, you will get a blended recommendation that includes a number of program elements, many of them right on target. </p>
<p>This is where you, as the prospect looking for help, need to set aside your assumptions and take a hard look at the suggestions offered. Assess the recommendations based on what you need and what you know about your problem. Ask for ways to measure results, and see if the metrics address your requirements. See if there are creative ideas in the proposals that you haven’t thought about before and how those ideas change your thinking.</p>
<p>The best proposals are a collaborative process between the prospect and the agency. It’s a dating ritual. You meet, compare notes, learn about one another, and see if you are well suited for one another. If you start with a checklist of predetermined criteria, e.g blonde, blue-eyed, six-feet tall, Master’s degree in engineering,etc., then you may overlook some great potential partners.</p>
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		<title>Extortion Marketing</title>
		<link>http://www.woolfmedia.com/wordpress/2011/10/extortion-marketing/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/10/extortion-marketing/#comments</comments>
		<pubDate>Thu, 13 Oct 2011 05:36:38 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Branding]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tools & Techniques]]></category>
		<category><![CDATA[Comcast]]></category>
		<category><![CDATA[malware marketing]]></category>
		<category><![CDATA[netflix]]></category>
		<category><![CDATA[Qwickster]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/2011/10/extortion-marketing/</guid>
		<description><![CDATA[The Web has given new power to consumers as well as to marketers. The power of Yelp and online protests have been proven time and again as noisy consumers who complain about bad customer service or faulty products win out over corporations. Yet it still surprises me that name brands continue to abuse their customers [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/10/lampoon.jpg"><img style="background-image: none; border-right-width: 0px; margin: 0px 0px 0px 6px; padding-left: 0px; padding-right: 0px; display: inline; float: right; border-top-width: 0px; border-bottom-width: 0px; border-left-width: 0px; padding-top: 0px" title="lampoon" border="0" alt="lampoon" align="right" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/10/lampoon_thumb.jpg" width="278" height="371" /></a>
<p>The Web has given new power to consumers as well as to marketers. The power of <a href="http://www.yelp.com">Yelp</a> and online protests have been proven time and again as noisy consumers who complain about bad customer service or faulty products win out over corporations. Yet it still surprises me that name brands continue to abuse their customers in the name of greed and expect customers to just accept it.</p>
<p><a href="http://www.netflix.com">Netflix</a> is the latest example. If you have been following the Netflix story, you know that Netflix first decided to <a href="http://blogs.sites.post-gazette.com/index.php/arts-a-entertainment/mad-about-the-movies/28443-netflix-prices-going-up?cmpid=bcpanel6">raise its prices</a> as part of the strategy to monetize its online streaming service, then they announced they were going to split their DVD operation and their streaming service in two with the launch of <a href="http://video.cnbc.com/gallery/?video=3000046494">Qwickster</a>. The customer backlash was substantial. Complaints started rolling in and the blogosphere was abuzz with commentary about Netflix’s insensitivity to its customers and its stupidity. It’s not as though they were the only game in town. <a href="http://www.hulu.com/plus/">Hulu Plus</a> has been gaining momentum and there are other video services available.</p>
<p>Netflix arrogantly was counting on its customer loyalty to see them through.They assumed that the goodwill they had built with their customers gave them the right to abuse that customer loyalty.</p>
<p>Clearly, Netflix is not <a href="http://www.apple.com/">Apple</a>. They don’t command the same rabid customer loyalty, but they also don’t offer the same level of customer service or the same level of innovation. Apple has build a trusted relationship with their customers. They have created a unique and consistent customer experience, and they keep their customers well informed about product changes and innovations, usually with a lot of fanfare and support. </p>
<p>Which brings me to <a href="http://xfinity.comcast.net/">Comcast</a>. In my household we have been having a challenging experience with Comcast Internet access over the past week. Comcast has an anti-virus service they are touting called <a href="http://xfinity.comcast.net/constantguard/?cid=NET_33_640">Constant Guard</a>, a malware security suite from Xfinity. This apparently is a free package offered to Comcast subscribers, but instead of promoting it through conventional opt-in marketing, Comcast is using malware marketing to force customers to adopt it. Comcast apparently monitors virus activity on computers connected to their network, whether you want them to our not and no matter what anti-virus software you use. And when Comcast sees a preset level of malware attacks, they hit you with their own popup that says your computer is infected with a bot. The popup requires you to make several clicks to a customer service center to deactivate it.</p>
<p>We have four computers in our family, including both Macs and PCs, and they are protected by different anti-virus packages. We have all experienced this malware marketing program from Comcast, and we have all had issues getting rid of their popup. At first, we were naturally suspicious and assumed this was a malware attack, but after a couple of calls to a bewildered support team we finally found a representative at Comcast who admitted, “Yep, it&#8217;s ours.” In fact, we received a very empathetic call back from the regional customer service executive, who also seemed baffled and filed a trouble ticket. Ultimately, we received a call from another service rep who basically told us, “Yeah, it’s ours, We have uncovered tens of thousands of attacks on your computer. If you want it all to go away, just download our free software. And by the way, we are perfectly within our rights to do this so get over yourself” (or words to that effect).</p>
<p>So this is how Comcast is selling its <a href="http://www.comcastauthorizedoffers.com/y/triple-play?utm_source=bing&amp;utm_medium=cpc&amp;utm_term=triple+play+comcast&amp;utm_campaign=Comcast+Bundle&amp;qs=triple%20play%20comcast">triple-play</a> strategy, although I think it’s more like three strikes and you’re out. Comcast wants to force you to use their anti-virus solution, whether you want it or not. (I also should note that a scan of all the computers turned up no evidence of a problem, so clearly whatever protection we have in place seems to be working.)</p>
<p>Let’s hope this is not a harbinger of things to come. Consumers should always have a choice as to what services they want to buy and what price they are willing to pay. There are times when even free looks too expensive. </p>
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		<title>The Client is Always Right&#8211;Well, Sort Of&#8230;.</title>
		<link>http://www.woolfmedia.com/wordpress/2011/09/the-client-is-always-rightwell-sort-of/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/09/the-client-is-always-rightwell-sort-of/#comments</comments>
		<pubDate>Fri, 30 Sep 2011 19:40:59 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Branding]]></category>
		<category><![CDATA[Entrepreneurship]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[client management]]></category>
		<category><![CDATA[customer relations]]></category>
		<category><![CDATA[entrepreneurship]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[netflix]]></category>
		<category><![CDATA[rant]]></category>

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		<description><![CDATA[your clients pay the bills and keeping them happy keeps the lights on, but if you have a client who asks you to do something unethical or illegal, or even unpleasant, then you have to ask yourself how far you are willing to go to keep the customers satisfied.]]></description>
			<content:encoded><![CDATA[<p>The challenge with being in a service business is, well, providing the best customer service. And providing the best service often means doing what’s best for your business and not necessarily what the client wants. After all, as a consultant you are the expert in your field, and the client is paying you for your expertise. In essence, they are paying you to disagree with them when necessary, and that is not always pleasant.<a title="Six Impossible Thinigs Before Breakfast" href="http://www.gap-system.org/~history/Quotations/Dodgson.html"><img style="background-image: none; border-bottom: 0px; border-left: 0px; margin: 0px 0px 0px 6px; padding-left: 0px; padding-right: 0px; display: inline; float: right; border-top: 0px; border-right: 0px; padding-top: 0px" title="AliceTeaPartyClose" border="0" alt="AliceTeaPartyClose" align="right" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/09/AliceTeaPartyClose.jpg" width="244" height="184" /></a></p>
<p>During my years working with different PR agencies I have worked with a number of difficult clients. My agency bosses always emphasized to me that the client is always right, even when they are wrong, and there have been many instances when I have been put in an uncomfortable situation because the client asked for <a href="http://www.gap-system.org/~history/Quotations/Dodgson.html">six impossible things before breakfast</a>, and the agency bosses were too concerned about losing the account to say “no.” (Note that this is not universally true, and that I have had some wonderful bosses in my day who would never ask me to compromise my professional integrity.) However, one of the advantages of running your own business is you get to say “no” when you want to, and you get to decide what’s impossible, what’s not, and what can be delivered before breakfast.</p>
<p>The truth is, you run your business, your clients’ don’t. Granted, your clients pay the bills and keeping them happy keeps the lights on, but if you have a client who asks you to do something unethical or illegal, or even unpleasant, then you have to ask yourself how far you are willing to go to keep the customers satisfied. </p>
<p>I have been following a lot of commentary these past two weeks about <font style="style"><a href="http://www.cringely.com/2011/09/net-flixup/">Netflix decision</a></font> to split its streaming and DVD businesses, and the backlash over the latest changes to the <font style="style"><a href="http://news.cnet.com/8301-13506_3-20110755-17/facebook-changes-creeping-out-some-customers/">Facebook interface</a></font>. These changes have created a number of pissed off customers, which has generated a lot of negative traffic on the Web. As Eric Brown noted, however, in a recent blog post for Social Media Explorer entitled “<font style="background-color: #ffff00"></font><font style="style"><a href="http://www.socialmediaexplorer.com/online-public-relations/always-listening-to-the-customer-is-a-race-to-mediocrity/">Always Listening to the Customer is a Race to Mediocrity</a></font><font style="background-color: #ffff00"></font>”:</p>
<blockquote><p>Perhaps we can all do a better job delivering news, however no one knows or sees what that Entrepreneur, CEO, or <a href="http://en.wikipedia.org/wiki/Business">Business Owner</a> sees. No one has the information he or she has to know why they made the decision they made. And here is another dirty little secret, your customers haven’t a clue about what your the next innovation or product release should be. Even the best evangelist, if they really exist don’t know the next answer, otherwise they would be the Entrepreneur.</p>
</blockquote>
<p>Your customers don’t have your best interests in mind, and they actually don’t really care if you stay in business, no matter how loyal they are. You have to determine your own future, which means you often have to make tough decisions to protect your business. You have to assess whether a client relationship is going to cost you more in the long run than it’s worth to you. And there are different ways to assess costs, whether the client is not respectful of your time which means you can’t service other clients; whether they aren’t respectful of your ethics which could damage your reputation; or they are just too hard to work with which will cost you your sanity.</p>
<p>If you give your client your best counsel and they choose to reject it, that doesn’t have to be a deal breaker. But you don’t have to watch a train wreck either just to have the satisfaction of saying, “I told you so”; that won’t help your professional reputation. And you don’t have to be a slave to your clients, or let them abuse your professional relationship by demanding more than you are willing to commit to, or they are willing to actually pay for. It’s still your business, and sometimes you just have to just say “no!”</p>
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		<title>Branding and Your Value Proposition: A Primer</title>
		<link>http://www.woolfmedia.com/wordpress/2011/08/branding-and-your-value-proposition-a-primer/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/08/branding-and-your-value-proposition-a-primer/#comments</comments>
		<pubDate>Wed, 10 Aug 2011 04:31:33 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Branding]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tools & Techniques]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/?p=1026</guid>
		<description><![CDATA[Where most B2B companies fail here is in creating a unique value proposition that appeals to the customer’s point of pain, and show them how to make money or save money. You need something that will capture the  prospect’s attention and imagination]]></description>
			<content:encoded><![CDATA[<p>We who do marketing, PR, and communications for a living have our own  language that we have adopted over time to tell each other what we do. In my  case, the marcomm<strong>*</strong> language of Silicon Valley has become so  ingrained after 20 years that I find it is making its way into my everyday  conversation as well as proposals and other materials – my wife keeps telling me  to cut out the business speak. Since we live in our own world of buzz words and  code phrases, we tend to forget that the rest of the world sometimes needs a decoder ring to follow the thread.</p>
<p>A case in point. I was having coffee last week with a friend and we started talking about his consulting business. He works with medical professionals but  has no marketing background at all.<a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/08/branding.jpg"><img class="alignright size-medium wp-image-1027" title="branding" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/08/branding-300x199.jpg" alt="" width="300" height="199" /></a></p>
<blockquote><p>I asked him what was his value proposition?</p>
<p>Response: Blank stare….</p>
<p>I then asked him about his personal brand and the brand promise of his consulting practice.</p>
<p>Response: “You mean my logo?”</p></blockquote>
<p>Which led to a lengthy discussion about marketing strategy and how to think  about your brand value as it relates to customer needs. I dug through my digital archives to try to find a good primer on branding and identifying your value proposition, and I found a copy of “Irresistible Value Propositions: How to Entice Your Prospects to Switch from the Status Quo,” a white paper developed by  Chief Sales Officer and author <a href="http://www.sellingtobigcompanies.com/index.jsp">Jill Konrath</a>. Konrath has some really good tips that I found valuable as a refresher, so I thought I  would share a few of them here.</p>
<p>Every product or service needs a value proposition, which Konrath defines that as:</p>
<blockquote><p>A value proposition is a clear statement of the tangible results a customer gets from using your products or services. It’s outcome focused and stresses the business value of your offering.</p></blockquote>
<p>Where most B2B companies fail here is in creating a unique value proposition that appeals to the customer’s point of pain, and show them how to make money or save money. You need something that will capture the  prospect’s attention and imagination. Unfortunately, most companies speak about features and functions; speeds and feeds:</p>
<ul>
<li>“Our systems is the fastest on the market” (Speed doesn’t matter to me.)</li>
<li>“We offer the most cost-effective solution in the category” (But I am<br />
willing to pay more for something that suits my needs.)</li>
<li>“We offer one-stop shopping.” (So does Wal-Mart. Why does that help me?)</li>
</ul>
<p>The other day I remembered an age-old joke from the tech sector that  denigrated the poor marketing of the late <a href="http://en.wikipedia.org/wiki/Digital_Equipment_Corporation">Digital Equipment Corporation</a>: “If DEC were to sell sushi, they’d market it as cold, dead fish.” You get the idea, features and functions only matter if they fix my problem!</p>
<p>What appeals to customers? Performance that drives revenue. Whether it’s increasing revenue, reducing costs, shortening time to profit, shortening sales cycle, reducing cost of sales, minimizing risk, whatever, you need to appeal to tangible returns using real data.</p>
<p>(As an aside, FUD – fear, uncertainty, and doubt &#8211; can also be a good value proposition. “If you don’t buy my product and the feds audit you it could cost millions of dollars.” Averting risk is a solid motivator.)</p>
<p>So think about your value proposition in terms of what you offer of value to your customer. The mistake a lot of my clients make is selling what they have to offer, not what the customer wants. So walk a mile in your customers’ shoes and then ask yourself, “Why can’t they live without my product or service.” Then you have a value proposition that you can package as part of your brand.</p>
<p><strong><em>* Here is where you can start playing Buzz Word Bingo – see how many buzz words you can spot in this blog, starting with the techspeak term “marcomm.”</em></strong></p>
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		<title>Know Your Competition, But Don&#8217;t Trash Them</title>
		<link>http://www.woolfmedia.com/wordpress/2011/07/know-your-competition-but-dont-trash-them/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/07/know-your-competition-but-dont-trash-them/#comments</comments>
		<pubDate>Thu, 21 Jul 2011 04:59:30 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Public Relations]]></category>
		<category><![CDATA[Social media]]></category>
		<category><![CDATA[competition]]></category>
		<category><![CDATA[mud slinging]]></category>
		<category><![CDATA[trash talk]]></category>
		<category><![CDATA[trashing]]></category>

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		<description><![CDATA[However, in marketing and PR, the rule is to learn from your competition, but never mention them.]]></description>
			<content:encoded><![CDATA[<p>I have been running into a lot of discussion about competitors lately. I have a client who is assessing white papers and industry analyses for potential marketing applications, but, of course, the competition is mentioned in each of these reports. That’s balanced and responsible reporting. If you want to commission your own white paper that expounds the glories of your product or technology, then you can commission your own, but it wont’ have the weight of a true competitive overview.</p>
<p>It amazes me how many of my clients over the past 20 years have been obsessed with their competitors. I have had clients<a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/07/OscarGrouch.jpg"><img style="background-image: none; padding-left: 0px; padding-right: 0px; display: inline; float: right; padding-top: 0px; border: 0px;" title="OscarGrouch" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/07/OscarGrouch_thumb.jpg" border="0" alt="OscarGrouch" width="210" height="244" align="right" /></a> approach me to do news releases about competitive face-offs in trade magazines and exp0lain why we had to outline, in detail, how their speeds and feeds are faster than the competition, and provide specific names and metrics. In the last few months, I have even seen a competitor of one of my clients go to the extreme of issuing an unapproved press release explaining how a Fortune 500 company (and a customer of my client) was using their technology – a bold-faced lie.</p>
<p>The sprit of economic Darwinism has always been a motivator in business. Today it is driving innovating on all fronts. Toyota has demonstrated the economical viability and popularity of hybrid cars, and there are <a href="http://www.hybridcars.com/index.php">dozens of copy cats</a> entering the market. Facebook has proven such a success that the social media space continues to <a href="http://www.borowitzreport.com/2011/07/19/no-new-social-network-launched-today/">boom with new competitors</a>, the latest entry in the <a href="http://www.washingtonpost.com/business/googles-social-network-google-plus-takes-aim-at-facebook-but-will-it-work/2011/06/29/AGNARArH_story.html">social media race being Google+.</a> Competition is healthy because it promotes innovation.</p>
<p>However, in marketing and PR, the rule is to learn from your competition, but never mention them. As <a href="http://wiki.answers.com/Q/Who_said_%27Keep_your_friends_close_and_your_enemies_closer%27">Machiavelli once wrote</a>, “Keep your friends close, and your enemies closer,” so you need to keep a close eye on where the competition are appearing, what they are saying, and who is following them. That task has become much easier in the era of the web and social media, so follow their followers and keep your eyes and ears open. But whatever you do don’t mention them by name in your own press or marketing material – why give them the free publicity? And why undermine your own authority and assumed leadership by pointing to the other guy and saying, in essence, “But we’re better than they are…”</p>
<p>Another popular phrase talks about mud slinging, and when you sling mud, some of that mud will land on you. This is especially true in marketing. Even if you are the CEO of <a href="http://www.pcworld.com/businesscenter/article/198038/ballmer_bites_back_disses_the_ipad.html">Microsoft, dissing the competition</a> is a bad idea.</p>
<p>So what can you do to effectively combat the competition without looking like a bully, a whiner, or a fool? Outmnarket then!</p>
<p>1. Take the high ground, and hold it! Be the authority. Instruct without being demeaning and show the market you know your stuff.</p>
<p>2. Lead by example. Show that you have, indeed, built a better mousetrap by offering data on return on investment, proof of value, and why your customers love you and mice fear you.</p>
<p>3. Enlist evangelists. Get customers and others to sing your praises. Third-party validation is always more powerful than comparison shopping.</p>
<p>4. Let the truth set you free. If you trash the competition or, worse, tell lies to make your point, the truth will find its way to your customers and prospects and the trash talk will only sully your reputation. You never win by lying.</p>
<p>Keep your campaign positive, forthright, and real, and forget about the competition. Win by playing your own game and listening to customers and the market. If you see your competition winning business where you can’t, change the rules and promote your strengths to gain market share back. And if the competitor starts pointing fingers and shouting “<a href="http://en.wikipedia.org/wiki/J%27accuse_(letter)">J’accuse</a>!, let them. Keep to your high ground and they will slide back down the hill in their own mud. But don’t engage because when you get into a name-calling contest, everyone loses.</p>
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		<title>Drowning in Drivel: Stemming the Tide of Social Media</title>
		<link>http://www.woolfmedia.com/wordpress/2011/06/drowning-in-drivel-stemming-the-tide-of-social-media/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/06/drowning-in-drivel-stemming-the-tide-of-social-media/#comments</comments>
		<pubDate>Wed, 15 Jun 2011 05:20:05 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Branding]]></category>
		<category><![CDATA[Market Trends]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Social media]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[linkedin]]></category>
		<category><![CDATA[online ADD]]></category>
		<category><![CDATA[time management]]></category>
		<category><![CDATA[Twitter]]></category>

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		<description><![CDATA[The age of instant communications has created a disruptive, multi-tasking approach to work, which is not the most productive.]]></description>
			<content:encoded><![CDATA[<p>These days, social media has become a resource for sales and marketing; an essential tool in any marketing or media arsenal. Remember when, not so long ago, Facebook was banned from the workplace as a time waster? There are any number of companies that still block access to Facebook, LinkedIn, YouTube, Twitter, and other social media destinations because they don’t see these outlets as essential to employees’ jobs. They want them to stay productive, not chatting with friends online.</p>
<p><a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/06/digital-distraction.jpg"><img style="background-image: none; padding-left: 0px; padding-right: 0px; display: inline; float: right; padding-top: 0px; border: 0px;" title="digital-distraction" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/06/digital-distraction_thumb.jpg" border="0" alt="digital-distraction" width="244" height="154" align="right" /></a>And despite the many benefits that have been demonstrated about social media, they have a point. Todays’ work environment is incredibly disruptive. I hate to say it, but I am old enough to remember working in an office free of email and where the only disruption was an occasional phone call. I also recall those days as being much more productive, where I could focus on writing an article or editing a column without interruption. The age of instant communications has created a disruptive, multi-tasking approach to work, which is not the most productive.</p>
<p>Not long ago I spotted an article on Mashable, “<a href="http://mashable.com/2011/06/02/future-social-media-questions/">The 3 Pressing Questions Facing Social Media</a>,” that talked about the disruptive nature of social media, and the fact it will only get worse.</p>
<blockquote><p>The conversation about social media in our society is shifting significantly. We’re no longer asking questions like, “Will people use social media?” or “Are sites like Facebook and Twitter simply trends that will soon lose steam?” After billions of tweets and 600 million people on <a href="http://mashable.com/follow/topics/facebook">Facebook</a>, it’s settled: People want to share online. And with Facebook moving toward a <a href="http://mashable.com/2011/05/02/facebooks-valuation-100-billion/">$100 billion valuation</a>, there is money to be made.</p>
<p>The emerging conversation is not if we will be connected but is instead, “How can we effectively and productively connect?” Now that we can get constant updates on just about every aspect of our friends’ lives, how do we receive that which is relevant?</p></blockquote>
<p>I think the three questions are worth considering closely as we continue to forge ahead into the disruptive world of social media.</p>
<p>1. <strong>Are We Being Driven to</strong> <strong>Distraction?</strong> Remaining continually connected means being continually distracted. I am sure you have experienced it – email interruptus or the Facebook vortex. You are in the middle of trying to construct a thought for a report, or a calculation for a spreadsheet and you hear that little “ding” or see that popup that someone has posted to your wall. Being the tribal creatures that we are, we drop everything to see who is knocking at our virtual door.</p>
<p>People have forgotten <a href="http://shankman.com/how-do-you-define-off-the-grid/">how to turn off the data stream</a>, just as they have forgotten to turn off their cell phones or unplug from the larger world. Many give the excuse that their bosses or their clients expect them to be “on call,” but the truth of the matter is we are all insecure in this new world of social media, and we are worried about missing an important factoid or an important connection that could lead to cyber rejection.</p>
<p>The price of distraction is a decline in productivity. According to a survey cited in the Mashable article, social media is costing companies <a href="http://mashable.com/2011/05/27/digital-distraction-survey/">an average of $10,375</a> per year because we can’t learn to disconnect fast enough.</p>
<p>The drive to stay connected is tapering off. For the first time, <a href="http://www.insidefacebook.com/2011/06/12/facebook-sees-big-traffic-drops-in-us-and-canada-as-it-nears-700-million-users-worldwide/">Facebook has seen a drop in traffic</a> in the U.S. and Canada as people are starting to realize that social media does not require real-time consumption. But we are still struggling to find the right balance to get us back to productivity.</p>
<p>2.  <strong>How are We To Filter the Stream?</strong> What to follow has become an important question. You want to sample the social media stream in a way that suits our informational needs. I <a href="http://www.woolfmedia.com/wordpress/2011/05/a-view-from-the-bubble-your-web-experience-is-under-our-control/">cited a recent presentation</a> by MoveOn board president Eli Pariser on how our web experience is already being filtered. We need to be wary of imposing our own filters so we get what we need from social media channels.</p>
<p>Of course, we need to understand how the data is being filtered, and given the option to impose our own controls, or open the tap to unfiltered content so we can determine what we want to sample. It’s all about promoting transparency; a principle that is at the root of the creation of the Internet.</p>
<p>3.<strong> How Do We Manage the Social Media Flood?</strong> The sheer volume of social media content has become overwhelming. Can you effectively follow more than 500 people on Twitter or LinkedIn? How many Facebook friends can you have and still maintain any kind of meaningful connection? When do we start hitting diminishing returns from social media because the sheer volume has become too great to manage? Like dipping your toe in the data stream, where you choose to sample the stream is going to be self-selecting, but the stream is rapidly becoming a flood, which will make it harder to choose the right location.</p>
<p>And it’s just going to get worse. More traffic for the Web is on the horizon, and with it more social media traffic. So users will have to become more discriminating in their use of social media:</p>
<blockquote><p>Providing people more ways to share online is no longer the challenge. That was the old paradigm. A new paradigm of relevancy is emerging, which goes beyond the question of whether “to follow or not follow” or “to friend or not friend.” Companies need to see that their job is not to provide us data, or even keep us updated — it is to serve our needs.</p></blockquote>
<p>Which offers some new opportunities for marketers. As we continue to feed our corners of the social media stream with content that is relevant for our microcosm of the social media macroverse, we will be able to start appealing to a niche following of more loyal and more relevant connections. It’s going to become more about quality rather than quantity, and the conversations will become more focused as we become more discriminating. As a result, social media will give us the capacity to connect more quickly and efficiently to people who matter to us, and the timewasting will become less of a factor in the social media equitation.</p>
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		<title>Avoiding the Mines in the Consulting Field</title>
		<link>http://www.woolfmedia.com/wordpress/2011/06/avoiding-the-mines-in-the-consulting-field/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/06/avoiding-the-mines-in-the-consulting-field/#comments</comments>
		<pubDate>Wed, 08 Jun 2011 04:59:06 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Public Relations]]></category>
		<category><![CDATA[Tools & Techniques]]></category>
		<category><![CDATA[ageism]]></category>
		<category><![CDATA[Best PR Practice]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[freelance]]></category>
		<category><![CDATA[money with consulting]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/2011/06/avoiding-the-mines-in-the-consulting-field/</guid>
		<description><![CDATA[What all these people have in common, and few realize, is that consulting is a marketing business, period. It doesn’t matter what your area of expertise is or if you are the best in your industry, unless you have the skills to sell your consulting services, you don’t have a consulting business.]]></description>
			<content:encoded><![CDATA[<p><p><a href="http://www.woolfmedia.com/wordpress/2011/06/avoiding-the-mines-in-the-consulting-field/"><em>Click here to view the embedded video.</em></a></p>I have been tracking a discussion on one of my PR groups on LinkedIn about ageism and employment. The complaint, which is not new, is that those of us “of a certain age” are being bypassed for choice agency and marcomm jobs as the hiring demographic skews younger. As <a href="http://www.randyblock.com">Randy Block</a>, one of the career coaches who works with my client, <a href="http://www.netshare.com">NETSHARE</a>, notes, no one wants to hire mom or dad. It’s no wonder that those of use who have the experience and years are being passed over. We are too expensive, and there is the misperception that we don’t “get it” when it comes to newer tactical programs like social media.</p>
<p>So the grumbling oldsters like me are making noises about forming a new Graying Communications type agency to show we still got it, and we still get it. I continue to adopt a different strategy, consulting. One of the other things that Randy says is that while the younger generation of managers are interested in hiring mom or dad, they will pay them for their advice. One of the more interesting things to come to light from the discussion thread on ageism was an column by <a href="http://www.businessweek.com/bios/Karen_E._Klein.htm">Karen E. Klein</a> from Bloomberg/BusinessWeek on “<a href="http://www.businessweek.com/smallbiz/content/may2011/sb2011059_763239.htm">Why Self-Employed Consultants Fail</a>.” Having been a serial consultant for more than 20 years, I found the insights right-on and very useful, since I still violate a few of them now and again. Here are some insights from Karen’s column for those of you looking for an alternative to downsizing or early retirement.</p>
<p>First, according to Alan Weiss, author of <em>Million Dollar Consulting</em>:</p>
<blockquote><p>There are about 400,000 people in the U.S. calling themselves consultants. My estimate is that only half of them are actually working as consultants. Most enter the profession as a second career or after they&#8217;re retired.</p></blockquote>
<p>What all these people have in common, and few realize, is that consulting is a marketing business, period. It doesn’t matter what your area of expertise is or if you are the best in your industry, unless you have the skills to sell your consulting services, you don’t have a consulting business.</p>
<p>What are the most common mistakes that consultants make? Here’s a list that should look familiar to those who have been there/done that, especially if you have any PR agency experience:</p>
<ul>
<li><strong>You bill by the hour</strong>. The rule of thumb in the agency world is you bill your time. The problem, of course, is that time is finite; there are only so many hours in the day. And while billable time may work for an economic (read cheap)) client, it doesn’t help you build your consulting business. Better to bill on value. If you can offer a service that saves a company $1 million, then paying $100,000 for that service seems a small prices to pay, whether the task takes 1,000 hours or one hour.</li>
<li><strong>Dealing with middlemen.</strong> I always try to deal with C-level executives. If you deal with the middlemen, they you are subject to their MBOs, and their political problems, and if a project goes awry as the consultant you will be the first one thrown under the bus. You also can’t show your value to those lower down. Better to approach the C-suite and show them what you offer before you start working with the less senior staff.</li>
<li><strong>You don’t see yourself as peers with the clients</strong>. You are working for the client, but you are not an employee.You are providing a service that they value on your terms. That makes you buyer and seller on equal footing. Never forget that. The problem with most consultants is a lack of self-esteem and the confidence to stand behind the value of their service. It may be from working alone or constantly selling yourself and the fact there is no “boss” to front for you, but you can’t be a subordinate. You can’t show up with your hat in your hand; you have to sell your value.</li>
<li><strong>You don’t offer lasting value</strong>. If you can create intellectual property, such as systems or intelligence you can package for reuse, then you become an expert and your value increases exponentially. Better to sell IP than expertise.</li>
</ul>
<p>Remember, if you can fix the client’s problem, you have value. The amount of pain the client is suffering because of that problem should dictate your fee. If you help them achieve their objectives and build their profits, they will be happy and the price tag doesn’t matter.</p>
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		<title>Ad Numbers Are Not in Twitter&#8217;s Favor</title>
		<link>http://www.woolfmedia.com/wordpress/2011/05/ad-numbers-are-not-in-twitters-favor/</link>
		<comments>http://www.woolfmedia.com/wordpress/2011/05/ad-numbers-are-not-in-twitters-favor/#comments</comments>
		<pubDate>Mon, 02 May 2011 21:26:11 +0000</pubDate>
		<dc:creator>Tom Woolf</dc:creator>
				<category><![CDATA[Best Practices]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Social media]]></category>
		<category><![CDATA[Tools & Techniques]]></category>
		<category><![CDATA[adotas]]></category>
		<category><![CDATA[emarketer]]></category>
		<category><![CDATA[NIA/Kelsey]]></category>
		<category><![CDATA[revenue]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://www.woolfmedia.com/wordpress/2011/05/ad-numbers-are-not-in-twitters-favor/</guid>
		<description><![CDATA[The good news is that revenues for social media advertising is expected to from from $2.1 billion in 2010 to $8.3 billion by 2015. The bad news for Twitter is that the majority of the cash is allocated for display advertising – $7.7 billion by 2015.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/05/twitter_bird_arrows_kybd.jpg"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; float: right; border-top: 0px; border-right: 0px; padding-top: 0px" title="twitter_bird_arrows_kybd" border="0" alt="twitter_bird_arrows_kybd" align="right" src="http://www.woolfmedia.com/wordpress/wp-content/uploads/2011/05/twitter_bird_arrows_kybd_thumb.jpg" width="188" height="244" /></a>As a follow-on to <a href="http://www.woolfmedia.com/wordpress/2011/04/is-twitter-just-chirping-in-the-wind/">last week’s blog post</a> about the future of Twitter, I spotted an interesting item in the <a href="http://www.adotas.com/">Adotas</a> newsletter today regarding Twitter’s anticipated ad revenue.</p>
<p>According to a <a href="http://www.adotas.com/2011/05/grim-news-about-twitter-ad-revenue-from-biakelsey/">new report from BIA/Kelsey</a>, there is both good news and bad news. The good news is that revenues for social media advertising is expected to from from $2.1 billion in 2010 to $8.3 billion by 2015. The bad news for Twitter is that the majority of the cash is allocated for display advertising – $7.7 billion by 2015. Non-display revenue, like promoted Tweets and promoted accounts 0 will grow to $600 million in 2015. According to the report, non-display ads, like promoted Tweets, didn’t generate any revenue in 2011, although other sources peg Twitter’s 2010 earnings at $45 million.</p>
<p>According to Adotas, eMarketer predicted Twitter earning sof $150 million in 2011 and $250 million on 2012, which is very much in line with the BIA/Kelsey report. But these figures fall far short of Twitter’s promise. To quote from Adotas:</p>
<blockquote><p>I can’t be the only one thinking, “That’s it?” But last week I commented that <a href="http://www.adotas.com/2011/04/twitter-plays-with-text-ads-but-wheres-the-revenue/">Twitter’s beta text ads would bring in incremental revenue at best</a> — there is no Twitter ad product that promises exponential revenue growth, something that’s ever-more haunting since North American user growth stalled a while ago.</p>
<p>As Twitter’s valuation keeps skyrocketing, it’s getting tougher to turn a blind eye to these grim revenue estimates.</p>
</blockquote>
<p>It will be interesting to watch this birdie as the business of social media evolves.</p>
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