The key take-a-ways from these posts, for me, is business professionals must get better at understanding and using technology to engage with their markets. Whether it’s a CMO looking like a CIO or a social media marketer using Twitter effectively we all need to become really good at using these newer tools to engage, measure, build relationships and generate outcomes.
If you want to chat with me on any of these topics connect with me and I’d be happy to have a conversation with you.
Our Favourite Posts for Week of May 28, 2012
1. Vision Statement: What Makes a Great Tweet | Harvard Business Review
Here’s some good advice on the types of Tweets, based on a recent study, that people like and dislike. I find it interesting that the Harvard Business Review has done a brief post on this. For me, it suggests, that social media and networks like Twitter are being taken seriously. The biggest challenge with any form of communication is offering information and interaction that is relevant and of value to your audience. With more of us on Twitter and other networks this will only become more challenging.
2. LinkedIn Introduces Two New Features: Targeted Updates & Follower Statistics | Technorati
Linkedin continues to innovate and think of newer ways to help businesses and professionals make connections. In this post the author says that Linkedin is about generating leads while this is true B2B companies and business professionals need to define what a “lead” is. Is it a key contact within a target company? Is it a qualified sales opportunity? The term “lead” is abused and misused by sales and marketing professionals. Make sure you have a “universal lead definition” first. Also, lets find a better word than “lead”. I’m not sure what that word would be (how about person?) but today we need to focus on developing relationships with people that we are qualified to help solve their problems. The word “lead” is old school, outdated and one sided.
3. Is Social Media Really the Great Equalizer? | Marketing Profs
Some good points being made in this post but I see a flaw in the hypothesis. What exactly does “great equalizer” mean? Who are we trying to become equal to? I think social media can tip the scale to the little guy/gal and is driving the costs down when it comes to access to target markets. Beyond that, this is a theoretical hypothesis that I can’t really see anyone having a logical answer to. I’m sure there are strong opinions either way. Today, the cost barriers to starting a business are lower and being able to build a prospective customer base is dead simple. The hard work is in the details of getting and keeping customers.
4. Last-Click Attribution Models Give Marketers Incomplete Picture | eMarketer
For over 100 years [see post on Marketing ROI] some marketers still cannot measure ROI on their marketing activities and investments! The good news is that they are able to measure some tactics like last click attribution…but this isn’t good enough. Or is it? Are companies measuring sales cycle touchpoints and activities? Are they measuring each step that a sales rep takes during the sales cycle? Probably not. Sales reps have a quota and they are measured on deals closed. Sales and marketing need to measure better together. There’s a lot of work needed to get us there!
5. Are CMOs the New CIOs? | Forbes
A provocative question no doubt. Marketers who understand how to use technology to produce results will be in high demand. Will CMOs be the next CIOs though? Nope. But, a CMO should be able to have a business and technical conversation with a CIO and vica versa. Perhaps a emerging role will be Chief Marketing and Information Officer? Also, never lose site of the fact that a CTO type of role or mindset is also required. We need to be looking at technology and how it can affect the future for our customers, partners, employees and suppliers.