All about Me…

Posts Tagged ‘Web 2.0’

4 P’s for Marketing…How about Social Media???

Posted by vishalsinghal on August 6, 2010

All MBA programs around the world teach 4 or maximum 5 Ps of Marketing i.e.

  • Product
  • Place
  • Price
  • Promotion &
  • People

However, social media is different as earlier it was one way transfer of information in web 1.0 then came dialog in web 2.0 generation but now the world is talking about “Communities, Engagement of customers” etc” in web 3.0 generation. Thus, it can’t be just 4 or 5Ps that will rule the world, there’s got to be more than 5, so here I am putting 25 of them which I picked up from here…

  • Provide: Something of value…
  • Petition: Demand innovation, make folks, platforms, messages better!
  • Productize:  Yes, new word!  Make your offer easy to understand!
  • Promote: Your product, service, business, events, news (don’t overdo).
  • Personalize: Let them see the “real” you.
  • Participate: Interact and engage (your audience)
  • Play: Take it easy, it’s not all strategy… 🙂
  • Pace: Take it easy, don’t over do it.  Just don’t!
  • Protect: Protect your brand, industry, service, peers
  • Plan: Yes, plan –don’t just do it!
  • Propel: Initiate discussions, bring the best out in people.
  • Pamper: Recognize players, collaborate, give credit where credit is due.
  • Partake: Answer questions, participate in discussions/chats.
  • Peer: Do not underestimate players based on their followers, community
  • Penetrate: Cover all aspects
  • Patrol: Entire landspace –correct & clarify statements and behaviors
  • Perform: Do it!  Just do it!
  • Persist: Don’t give up!
  • Predict: Think what’s next…
  • Pioneer: Don’t hold back, try different things (white hat rule though!)
  • Practice: Don’t be afraid, practice makes perfect; learnings await you!
  • Propose: Propose ideas, solicit business (humbly), ask for collaboration.
  • Punctuate: Don’t be afraid of repeating your point, though not bot-like.
  • Pursue: Follow up; be persistent to engage: to get answers, be heard.
  • Pay Attention: To influencers, trends, competition, customers.
  • Finally, be Positive about what you do and do it with sincerity…

    (Source: Social Media Today)

    Posted in Education, Training & Seminars, Social Media | Tagged: , , , , , , , , , , , | Leave a Comment »

    Management Rules for Startups from the School of Beane…

    Posted by vishalsinghal on August 25, 2008

    If you’re a major league baseball fan, you’ve probably read “Moneyball,” the best-selling book by journalist Michael Lewis chronicling the successful statistics-driven management of Oakland Athletics General Manager, Billy Beane.

    Plenty of corporate executives have tried to apply Beane’s tactics to their own operations. NetSuite CEO Zach Nelson did one better: In 2007 he invited Billy Beane to join NetSuite’s board of directors.

    Nelson says tracking nonstandard performance stats has helped improve the efficiency of NetSuite’s sales process. Most CEOs track their marketing spend, lead generations and closed contracts independently; NetSuite tracks which marketing plans (players) turn into leads (walk ons) and which leads convert to sales (runs). If improving your company’s sales efficiency is the aim, then “walk ons” — or how you get to the sale — is the key stat, just as in baseball. Below Nelson offers a few tips from Beane’s play book to get you started “managing by the numbers.”

    Management Rules from the School of Beane:

    1. Just start measuring it. In the early stages of your business it may be difficult to know which stats will be the most important for evaluating your operation. (Operating expenses or burn rate? New sales or renewals?) Don’t get too hung up on selection, just start doing it. “It’s easier to measuring things now than later, when your business is much more complicated,” Nelson says.

    2. Reduce the number of systems you use. Whether you’re using sophisticated SaaS applications, or a simple spreadsheet system, streamline. It’s best to unify data tracking into a single system so you can correlate the data. It’s fine to use multiple applications (one for finance, another for marketing), but keep in mind that when you fragment your data, it becomes harder to “connect the dots” and draw operationally useful conclusions.

    3. No such thing as a wrong metric. It doesn’t matter if you discover you’ve been measuring a useless data point. Once you know, you can eliminate it and choose something more appropriate. There is such a thing as overkill. Nelson found that measuring the number of product demonstrations his sales representatives were doing wasn’t helpful; he could never correlate a single demo and a final sale. “Since there was no value in collecting that data point, we don’t track it anymore.”

    4. Consistency is king. The one thing you can’t do is modify, in midstream, the specific terms you use to collect a data point. If you start out tracking contract renewals by geographic region, don’t change midstream to collect renewals by product line. Just start collecting a second data point. It’s more important to build up a body of historical data than to make changes in the heat of the moment.

    5. Trust your data. Even when your intuition suggests otherwise. You have to have the courage and conviction to trust your data, and act on it, Nelson says. If your data says spending money on conferences like CES or Web 2.0 Summit does not convert to sales, don’t go — no matter how important you think it is to be seen at such events.

    Posted in Education, Training & Seminars, Startup | Tagged: , , , , , , , , , , , , , | Leave a Comment »