In an earlier post about freemium business models, I talked about how customer acquisition investment ROI is amplified when you can leverage the inherent social aspects of the problem your product solves. I think of this as recruiting your customers to be your "marketing agents". Customers become marketing agents when they are doing the heavy lifting to attract new people into the product experience.
A customer's advocacy is far more effective at driving action than anything marketing can do by itself, so this approach can be highly efficient. Plus, the investment made to acquire that first customer can be spread across all of the people they eventually bring in -- increasing the effectiveness of ALL of your marketing investments.
While it is not easy to make this happen, there are some straightforward rules of the game.
Leverage what is social about your product
Your product's experience must take advantage of the social, viral behaviors inherent in the problem it solves. Stay focused on your customer's problem, remembering that social happens whenever one person shares an experience with another person and that social is not just Facebook, Pinterest and Sh#t Silicon Valley Says meme videos. Understand how people interact together in order to address the need today and insure your product experience takes this into account.
Lower the bar to sign up
It must be drop dead easy to sign up. No one wants to inconvenience their friends/coworkers, so they will not invite others in unless their own sign up experience was friction-free. Spend the time to optimize that experience and it will absolutely pay back with increased viral growth.
And if you utilize social sign up (and you should), make it clear what data you will be accessing and that you would never post or share without their permission. Users like the ease of social sign up (not another user name and password to remember!) but fear having their privacy comprised or unwittingly spamming their friends.
Make the free experience valuable
It's not enough that you make it easy to sign up. All new sign ups must quickly see the value provided and, ideally, personally feel the benefit. This is especially true for those users who are invited in by other users. Invited-in users are influenced by their relationship with the person who invited them to check it out, but their tolerance for any speed bumps in the getting-started process is lower so their 'time to value' needs to be short and sweet.
And when they experience the benefit, it is positive feedback for the user who invited them in because his experience just got better. And with positive feedback he is that much more likely to continue to being your marketing agent.
Activate, activate, activate
A solid nurture and engagement strategy is another necessary element for success. You must encourage adoption of those product features that best address the user's need and which benefit viral, word of mouth sharing. In-product, triggered messaging as well as email and social channels must all work together to make it happen.
The benefits of turning your customers into your marketing agents are significant and worth the investment of your and your team's time. You'll be a hero with your CEO and CFO as well as in your customer's eyes.
Data, collaboration and singing off the same song sheet
I often hear "data-driven decision making" cited as a desired tenet of a company's culture. And we all also know that every person on today's marketing teams need to know their way around a spreadsheet (What kind of marketer are you?).
But how do you make being data driven a reality? First, everyone needs to be singing off the same song sheet. Literally.
One song sheet builds a common vocabulary
Ok, I don't mean the team is literally singing, but I do mean using one common dashboard. At minimum, a weekly document tracking the critical business metrics plus the associated driver metrics. And where all sources are clearly articulated and calculated or derived values are clearly defined.
Having one "song sheet" that everyone uses insures that a common vocabulary is used across the business. This is essential for needed alignment across cross functional teams comprising finance, marketing, product, sales and support team members.
Whenever I start a new assignment, this is one of the first things I tackle. And having done this a number of times now, I am no longer surprised when the effort inevitably uncovers a misalignment. It can be as small as a misunderstanding over the definition of a conversion rate or as large as inaccurate source data. In my experience, it has even highlighted executive dissonance around what precisely is the most important business metric: new sales growth, profitability, revenue or acquisition costs?
And, always, there are team members who privately admit to me that they had not previously known what the critical business metrics were nor understood how metrics were sourced, calculated or forecast. Employee engagement increases when individuals understand and can articulate how what they do contributes to the overall success of the business. Creating a common metric dashboard is worth the effort just for the impact to increased engagement alone.
How do you get to Carnegie Hall? practice, practice, practice
It's not enough to simply have a common song sheet, everyone has to know how to sing off it. And that takes practice. It will take multiple repetitions and review before your entire team is consistently fluent with the data, its trends and how this knowledge and insight applies to the work they do and decisions they make each day.
I like to establish a regular time each week with the team to review the metrics, current trends, share insights and any planned actions. The regularity and repetition helps the entire team start to understand and internalize the rhythm of the business. And as programs and products launch and/or optimizations are tested, the impact is seen in the metrics. And through regular conversations around this cause and effect, the team learns the activities that positively impact the critical metrics and begin to apply that knowledge in their day-to-day prioritization and decision making.
It's a process, not an event
Create a "song sheet" and "sing" off it doesn't sound like rocket science and it isn't. But you may be surprised about how many organizations say they want to be data driven, but don't take the steps to enable team leads and team members with the tools they need. And a key element of success is repetition and creating a routine around the review of the metrics. Building a data driven competency is process, not an event. And it's well worth the time invested.
But how do you make being data driven a reality? First, everyone needs to be singing off the same song sheet. Literally.
One song sheet builds a common vocabulary
Ok, I don't mean the team is literally singing, but I do mean using one common dashboard. At minimum, a weekly document tracking the critical business metrics plus the associated driver metrics. And where all sources are clearly articulated and calculated or derived values are clearly defined.
Having one "song sheet" that everyone uses insures that a common vocabulary is used across the business. This is essential for needed alignment across cross functional teams comprising finance, marketing, product, sales and support team members.
Whenever I start a new assignment, this is one of the first things I tackle. And having done this a number of times now, I am no longer surprised when the effort inevitably uncovers a misalignment. It can be as small as a misunderstanding over the definition of a conversion rate or as large as inaccurate source data. In my experience, it has even highlighted executive dissonance around what precisely is the most important business metric: new sales growth, profitability, revenue or acquisition costs?
And, always, there are team members who privately admit to me that they had not previously known what the critical business metrics were nor understood how metrics were sourced, calculated or forecast. Employee engagement increases when individuals understand and can articulate how what they do contributes to the overall success of the business. Creating a common metric dashboard is worth the effort just for the impact to increased engagement alone.
How do you get to Carnegie Hall? practice, practice, practice
It's not enough to simply have a common song sheet, everyone has to know how to sing off it. And that takes practice. It will take multiple repetitions and review before your entire team is consistently fluent with the data, its trends and how this knowledge and insight applies to the work they do and decisions they make each day.
I like to establish a regular time each week with the team to review the metrics, current trends, share insights and any planned actions. The regularity and repetition helps the entire team start to understand and internalize the rhythm of the business. And as programs and products launch and/or optimizations are tested, the impact is seen in the metrics. And through regular conversations around this cause and effect, the team learns the activities that positively impact the critical metrics and begin to apply that knowledge in their day-to-day prioritization and decision making.
It's a process, not an event
Create a "song sheet" and "sing" off it doesn't sound like rocket science and it isn't. But you may be surprised about how many organizations say they want to be data driven, but don't take the steps to enable team leads and team members with the tools they need. And a key element of success is repetition and creating a routine around the review of the metrics. Building a data driven competency is process, not an event. And it's well worth the time invested.
What kind of marketer are you?
It's a great question and, coincidentally, over the past few months, I was asked this question a lot by different start up executives at various events. I am happy to be hearing the question more regularly because it demonstrates an increased understanding about the breadth of the marketing discipline and differences among marketing professionals.
We know that the most effective marketing teams require a wide range of talent to effectively address the revenue and growth needs of each of our unique businesses. And while every marketer needs to be data driven, you must not hyper-focus solely on optimization or you will lose sight of the forest for the trees.
Who do you need on the team?
This fun infographic summarizes some marketing roles (personas) that are on today's best marketing teams: a web designer/developer, a content creator, a technologist, an analyst and a campaign manager. In addition, every well-stocked marketing team also needs professionals focused on user insights, branding/positioning and as well as on pricing and packaging. And depending on your business, you may also need marketers focused on sales readiness and programs for upsell and activation.
Effective marketing leaders are able to align all of these different specialists around one integrated marketing strategy. Of course each marketing leader has his/her unique strengths, weaknesses, blind spots and areas of genius and these are informed by both her inherent DNA and his unique path to leadership. Some, like me, "come up" through quantitative acquisition marketing with its analytic rigor while others "come up" through branding or PR or creative tracks.
Regardless of how any one leader starts their marketing career, in order to be effective in today's marketing environment, they must understand and appreciate how each specialty works and how each complements the other. Without this understanding and appreciation, a leader runs the risk of crafting and executing a lopsided strategy.
And business priorities can and will change from year to year. Today's marketing teams must be flexible and, potentially, virtual. Marketing teams need to stay nimble and be constantly skating to where the puck is going to be (Wayne Gretzky). I prefer to lean on consultants and agencies for critical, specialized activities and hire marketing professionals who can strategize, manage and lead multiple activities and only those functions where we need to own that core marketing competency in the long term. But these kinds of decisions are specific to each business.
Who do you need on the team?
This fun infographic summarizes some marketing roles (personas) that are on today's best marketing teams: a web designer/developer, a content creator, a technologist, an analyst and a campaign manager. In addition, every well-stocked marketing team also needs professionals focused on user insights, branding/positioning and as well as on pricing and packaging. And depending on your business, you may also need marketers focused on sales readiness and programs for upsell and activation.
Effective marketing leaders are able to align all of these different specialists around one integrated marketing strategy. Of course each marketing leader has his/her unique strengths, weaknesses, blind spots and areas of genius and these are informed by both her inherent DNA and his unique path to leadership. Some, like me, "come up" through quantitative acquisition marketing with its analytic rigor while others "come up" through branding or PR or creative tracks.
Regardless of how any one leader starts their marketing career, in order to be effective in today's marketing environment, they must understand and appreciate how each specialty works and how each complements the other. Without this understanding and appreciation, a leader runs the risk of crafting and executing a lopsided strategy.
And business priorities can and will change from year to year. Today's marketing teams must be flexible and, potentially, virtual. Marketing teams need to stay nimble and be constantly skating to where the puck is going to be (Wayne Gretzky). I prefer to lean on consultants and agencies for critical, specialized activities and hire marketing professionals who can strategize, manage and lead multiple activities and only those functions where we need to own that core marketing competency in the long term. But these kinds of decisions are specific to each business.
Leaders think beyond their specialty.
For those up and coming marketing-leaders-in-the-making, my advice is to find ways to extend your horizons beyond your current specialty. Talk with your current manager and find external mentors. Find opportunities to spend time with other marketing specialists on your team and learn from them. Lay the groundwork now because this insight and experience will be necessary when you're running the show one day!What you miss when you hyper-focus on optimization
Lately, I fear some marketing leaders may be losing sight of the forest for the trees. They are veering too far toward the sole goal of cost-optimization and moving further away from the business goal of driving demand and increasing revenue.
For all of the right reasons we got closer to our CFO's and learned how to justify our budgets through achieving ever-lower CPL's (cost per lead) and CPA's (cost per acquisition). We fell in love with A/B testing our copy, creative and landing pages in order to squeeze another point or two out of a conversion rate. We hired analysts and learned how to manipulate pivot tables with the best of them.
And as fun as data analytics can be (and I am one big geek...), it is dangerous when the value of marketing is seen to be in the act of optimization...not in driving demand. Adam Needles from Annuitas recently wrote a blog, "Is the CMO the problem?" and characterizes the problem as, "CMOs obsess about their marketing ROI; however they focus on activities and their costs, not on demand and revenue."
Don't get me wrong because optimization is my middle name (see geek reference above). Closely watching acquisition and retention metrics and managing costs is a necessary part of marketing program execution. However, it is necessary, but not sufficient.
Optimization is a tactic, not the strategy.
For all of the right reasons we got closer to our CFO's and learned how to justify our budgets through achieving ever-lower CPL's (cost per lead) and CPA's (cost per acquisition). We fell in love with A/B testing our copy, creative and landing pages in order to squeeze another point or two out of a conversion rate. We hired analysts and learned how to manipulate pivot tables with the best of them.
And as fun as data analytics can be (and I am one big geek...), it is dangerous when the value of marketing is seen to be in the act of optimization...not in driving demand. Adam Needles from Annuitas recently wrote a blog, "Is the CMO the problem?" and characterizes the problem as, "CMOs obsess about their marketing ROI; however they focus on activities and their costs, not on demand and revenue."
Don't get me wrong because optimization is my middle name (see geek reference above). Closely watching acquisition and retention metrics and managing costs is a necessary part of marketing program execution. However, it is necessary, but not sufficient.
Optimization is a tactic, not the strategy.
Given pressure to justify marketing budgets and departments, some
marketing leaders have over-corrected and lost sight of their role to provide the customer insight driven strategy
needed to create and sustain long term growth.
To combat this, I second the suggestion from the McKinsey & Co
blog "Why can't we be friends" that the CMO and
CFO collaborate to identify marketing's success metrics to ensure the set addresses both the short term and the long term health of the business.
Short term metrics will be primarily financial: new sales, reduced churn, and
customer acquisition costs to name just a few. While long term metrics may include: brand awareness & consideration and Net Promoter Scores.
I didn't say it would be easy.
I didn't say it would be easy.
The conversation with your CFO to get agreement on short and long term marketing success metrics
may not be easy. We all know that many CEOs and CFOs can be biased to be focused on the short term financial metrics. It is marketing's job to continually bring the long term view into the conversations. Getting consensus will solidify the wider value the marketing team provides and will facilitate the necessary conversations around the investment needed
to sustain revenue growth, not just short term cost optimizations.
If one of your 2014 New Year resolutions is to build a better
relationship with your CFO, getting to a common set of both short term and long term
metrics is a great way to start.
Advice for change junkies like me
It's not fun unless I'm in the
middle of solving a hard problem. Even better, it's a hard problem with high stakes
requiring organizational change. The act of jumping in, assessing a situation, defining
the opportunities, putting the right team together and watching them gain momentum
- it is a rush! That's definitely where I find my "state of flow". Over the years, as I've chased
my flow, I've had the opportunity to learn (and re-learn) two key lessons that may
be helpful for other "change junkies" out there.
The current state is always worse than you think (and you can't fix everything at once).
When walking into a new change situation, I go in believing I have a handle on the challenges I will face. But I've learned this belief is kind of like wearing rose colored glasses, because you can't really know the truth until you get in there and get your hands dirty.
Too many times I have felt blindsided by an unanticipated speed bump. One recent example was the resource I relied on to execute my paid search marketing. He sat in the Search Marketing "center of excellence" within a matrix organization and was dedicated to my business. Given other fires burning, the search program wasn't my top priority. Yet over the course of a month's worth of status meetings, it became clear he wasn't performing. I had to put aside a number of other priorities for a few weeks in order to get it resolved. In this case, it was a fundamental misunderstanding of the chain of command and unfortunately, it cost the business a few hundred-thousand dollars.
I ascribe to the same advice shared in this HBR blog about turnarounds: you must address these unexpected challenges head on and at the time you uncover them. It's important to communicate openly about these speed bumps as you hit them, because it's likely to be a common, simmering problem that the team hasn't felt equipped to handle yet. And to insure your management chain understands that a new priority has emerged. Don't continue to feed the elephants in the room.
Work on being resilient.
There are so many speed bumps one can encounter - some you may be able to anticipate because you've hit them before, and unique ones that surprise you. I've learned that no matter how objectively "good" or "right" an idea, initiative or strategy may be, the organization has to be ready for it. This is true in both small and large organizations. And ready is more than lip service, ready means a shared urgency for making the key decisions and taking needed actions now.
This shared urgency is elusive, so you need to be resilient. I used to characterize this trait as being persistent, and while there is definitely an element of persistence in resilience - it is a necessary component - but not sufficient. Persistence implies staying the course valiantly fighting all obstacles in your way. It also implies a bit of tunnel vision, so you can miss the forest for the trees. Too much persistence may also get you labeled as stubborn and one-dimensional by peers and leaders - neither of which will help move your priorities forward.
Resilience, on the other hand, is what allows you de-personalize your response to setbacks so you are better able to synthesize new information, alter your approaches and persist in trying to execute the right ideas. But let's be clear, resilience is hard and sometimes even harder for professional women in leadership roles. It's a skill like any other that takes time, patience and awareness to develop.
The good news: if you can approach leading change situations by being open to the unexpected and working on resiliency, you will be better equipped for your next change fix!
Don't be Max Headroom with your virtual team
Do you recognize this guy? It's Max Headroom, a popular TV character in the mid 80's billed as the "world's first computer generated TV host".
Years before the Internet, Skype and YouTube, here was this charismatic, virtual man on our TV screens. He was seen only from the shoulders up, cracking wise in a bombastic way, while his image froze and skipped chaotically and his voice modulated strangely out of sync with the video. Here, watch a few clips for the context. (Humor me, I do have a point...)
Every time I hold a online meeting with my virtual team - all of them sitting in one conference room, me on my webcam - I picture my face on the big screen in their conference room and think, "from their perspective, I am Max Headroom." And that's not just because today's video conferencing technology still freezes at the worst possible times and there are audio glitches in every meeting. No, it's because while video conferencing with virtual teams members is lightyears better than "just" an email or a social stream comment or a phone call, it is still "just" virtual.
And virtual is not real life. Don't get me wrong, I am a big user of and believer in any and all the technology and tools that allow people to work flexibly. Flexibility to balance personal and professional comments or to work in a location appropriate for the task at hand, allows your team to give their best and is a must for today's workforce.
But as a team leader, step one is connecting with your team. That connection needs to be a personal, human one, not a virtual one. HBR's article Connect, then Lead explains that is our human desire to affiliate and be understood that drives this. Team members need to feel connected with their leaders in order to do their best work.
A virtual team environment, especially one where you, as the leader, are virtual, makes achieving this needed connection very challenging. I have learned you need to be both patient and deliberate.
Be Patient
I am biased for action, so this one is hard for me. Having led virtual teams for many years, and most recently teams where I was a virtual leader, this is a key lesson learned.
Authentic connection takes time so you must allow the necessary time for relationship building. People are looking for areas of commonality and consistency in behavior, and that requires multiple and varied kinds of interactions, both formal and informal, over time. So in situations where there are significant time zone differences that limit the available hours for meetings, conversation and interaction, you have to go into that situation knowing you'll need to go slow initially in order to go fast later. Like nine women can't make a baby in one month, you can't always accelerate achieving needed connection.
That being said, there are actions you can take to help build connective tissue with each interaction. And if you're deliberate about applying these tools, it will help to build and sustain good, virtual teams
Be Deliberate
Leaders of virtual teams must also be deliberate within their virtual interactions. I've learned a few tricks over the years. And when I saw this HBR Management Tip on building trust in your virtual team I had to smile, because it's one I use every day -- create forums for personal interactions to take place even in formal meetings. I always kick off online meetings with a personal anecdote designed to start a short non-work conversation. This "water-cooler-talk" helps to lighten the mood and remind everyone that we're a team of people collaborating.
Another deliberate move is to schedule and keep regular 1:1 meetings with every one of your virtual team members, not just your direct reports. You will meet and interact with your direct reports more often, but you still need to build connection with the entire team.
Don't be Max Headroom
In virtual teams, personal connection is still critically important. While technology can move us closer to real life interactions, there is still the danger of being "just" Max Headroom to your virtual team: a virtual, talking head they see on the conference room screen every week, not a living, breathing leader of a team they are proud to contribute to. Think about how you are being perceived by your virtual team and be mindful of the time needed to create connections.
Years before the Internet, Skype and YouTube, here was this charismatic, virtual man on our TV screens. He was seen only from the shoulders up, cracking wise in a bombastic way, while his image froze and skipped chaotically and his voice modulated strangely out of sync with the video. Here, watch a few clips for the context. (Humor me, I do have a point...)
Every time I hold a online meeting with my virtual team - all of them sitting in one conference room, me on my webcam - I picture my face on the big screen in their conference room and think, "from their perspective, I am Max Headroom." And that's not just because today's video conferencing technology still freezes at the worst possible times and there are audio glitches in every meeting. No, it's because while video conferencing with virtual teams members is lightyears better than "just" an email or a social stream comment or a phone call, it is still "just" virtual.
And virtual is not real life. Don't get me wrong, I am a big user of and believer in any and all the technology and tools that allow people to work flexibly. Flexibility to balance personal and professional comments or to work in a location appropriate for the task at hand, allows your team to give their best and is a must for today's workforce.
But as a team leader, step one is connecting with your team. That connection needs to be a personal, human one, not a virtual one. HBR's article Connect, then Lead explains that is our human desire to affiliate and be understood that drives this. Team members need to feel connected with their leaders in order to do their best work.
A virtual team environment, especially one where you, as the leader, are virtual, makes achieving this needed connection very challenging. I have learned you need to be both patient and deliberate.
Be Patient
I am biased for action, so this one is hard for me. Having led virtual teams for many years, and most recently teams where I was a virtual leader, this is a key lesson learned.
Authentic connection takes time so you must allow the necessary time for relationship building. People are looking for areas of commonality and consistency in behavior, and that requires multiple and varied kinds of interactions, both formal and informal, over time. So in situations where there are significant time zone differences that limit the available hours for meetings, conversation and interaction, you have to go into that situation knowing you'll need to go slow initially in order to go fast later. Like nine women can't make a baby in one month, you can't always accelerate achieving needed connection.
That being said, there are actions you can take to help build connective tissue with each interaction. And if you're deliberate about applying these tools, it will help to build and sustain good, virtual teams
Be Deliberate
Leaders of virtual teams must also be deliberate within their virtual interactions. I've learned a few tricks over the years. And when I saw this HBR Management Tip on building trust in your virtual team I had to smile, because it's one I use every day -- create forums for personal interactions to take place even in formal meetings. I always kick off online meetings with a personal anecdote designed to start a short non-work conversation. This "water-cooler-talk" helps to lighten the mood and remind everyone that we're a team of people collaborating.
Another deliberate move is to schedule and keep regular 1:1 meetings with every one of your virtual team members, not just your direct reports. You will meet and interact with your direct reports more often, but you still need to build connection with the entire team.
Don't be Max Headroom
In virtual teams, personal connection is still critically important. While technology can move us closer to real life interactions, there is still the danger of being "just" Max Headroom to your virtual team: a virtual, talking head they see on the conference room screen every week, not a living, breathing leader of a team they are proud to contribute to. Think about how you are being perceived by your virtual team and be mindful of the time needed to create connections.
Maximize impact from thought-leadership
We've all heard variants of the expression, "you can have it fast, good or cheap; pick two."
I am reminded of this saying every time I read yet another content marketing article telling me to "just" create great content your audience finds relevant. Well, duh. A recent Ragan post termed these generic exhortations "annoying" and I 100% agree.
So if it pleases the content marketing court, I'd like to stipulate that every marketing leader shares the goal of creating content that is both "great" and "relevant" in the eyes of their target audience. This is a never-ending quest, and we will not rest until that magic formula is found.
In general, I find it more actionable to share ideas around distributing, amplifying and repackaging the content you do create. Today, let's explore one idea for getting the most mileage from contributed, thought leadership articles. This needs to be one of the programs in every marketers toolkit, especially all my growth hacker marketers out there trying to build awareness and achieve cost effective scale.
My strategy for maximizing contributed content has three elements: Place it, Family it and Bring it Home.
Place it.
Contributed content can include bylined articles, recurring columns, guest blogs etc. With so many publishers on the lookout for quality content, you are sure to find appropriate outlets for your articles. Even when you do not have an executive or founder whose name can secure top-tier placements out the gate, you can still find ways to contribute content. Getting your messages out there, in any appropriate outlet, will have a positive impact on customer acquisition.
It's important to remember that while you are authoring articles to benefit your product, the articles themselves are not branded. The article needs to be helpful and relevant to the publishers' readers so there is no call to action to visit your website. Your objective with contributed content is to introduce the key thought leadership ideas within your desired themes that help educate and inform your target audience. Thought leadership can stimulate need identification in your audience plus help them understand how to best differentiate among different offerings in the category. Once your content is published, the next two elements can be immediately activated.
Family it.
'Family' in this context is my shorthand for the blogs and social marketing efforts of related products and brands. If you are marketing a product within a large organization, this could include blogs and social personas of other products and services as well as the corporate brand itself. Of course, not every marketer is lucky enough to have this setup. But even if you don't have a ready-made family, you still have the opportunity create your own 'family' of products and brands that can co-operate together and support this content amplification strategy.
First, your 'family' can and should amplify the contributed placement itself. This typically takes the form of a tweet or Facebook post sharing the published article link with their audience. But the impact can be extended when you repackage to make it relevant for the Family blog and social audiences.
When you repackage for Family, bring the themes and ideas introduced in the original, unbranded contributed content one step closer to both products/brands. Relate the features and benefits of the specific products and brands to the broader themes introduced in the contributed content. You want to find relevant ways to talk about both your product and the Family product. Many times this falls into a "better together" story where you can also feature a customer story to help illustrate the benefits. Again, you will link to the contributed article as you reference the themes, but you will also link to relevant conversion pages on your own and/or your Family's sites.
Bring it home.
Finally, you need to bring it home. In this step, you take the thought leadership ideas introduced in the contributed content and draw big, bright lines directly to your product and brand. Like with 'Family it', you first amplify the published contributed article itself through your blog and social channels. And then you can, on an on-going basis, reference the themes in thought leadership and point readers directly to conversion paths for your product and brand that highlight those themes.
Because your thought leadership content was identified from the core positioning and differentiation of your product - and these are fleshed out on your site - there will be many opportunities for your social team to reference the theme (and link to the published article) while also pointing readers to an optimized conversion path on your site.
All together now.
While the strategy may appear simple, its execution is more complex because, generally, different teams are responsible for the different elements. Contributed content often sits in communications and public relations, while Family sits in other organizations all together, often product and corporate marketing. Bring it home comprises website, content and social teams that have to work in concert. Articulating the strategy in this way helps align diverse and dispersed team so each understands their role in maximizing the benefits of contributed content.
I am reminded of this saying every time I read yet another content marketing article telling me to "just" create great content your audience finds relevant. Well, duh. A recent Ragan post termed these generic exhortations "annoying" and I 100% agree.
So if it pleases the content marketing court, I'd like to stipulate that every marketing leader shares the goal of creating content that is both "great" and "relevant" in the eyes of their target audience. This is a never-ending quest, and we will not rest until that magic formula is found.
In general, I find it more actionable to share ideas around distributing, amplifying and repackaging the content you do create. Today, let's explore one idea for getting the most mileage from contributed, thought leadership articles. This needs to be one of the programs in every marketers toolkit, especially all my growth hacker marketers out there trying to build awareness and achieve cost effective scale.
My strategy for maximizing contributed content has three elements: Place it, Family it and Bring it Home.
Place it.
Contributed content can include bylined articles, recurring columns, guest blogs etc. With so many publishers on the lookout for quality content, you are sure to find appropriate outlets for your articles. Even when you do not have an executive or founder whose name can secure top-tier placements out the gate, you can still find ways to contribute content. Getting your messages out there, in any appropriate outlet, will have a positive impact on customer acquisition.
It's important to remember that while you are authoring articles to benefit your product, the articles themselves are not branded. The article needs to be helpful and relevant to the publishers' readers so there is no call to action to visit your website. Your objective with contributed content is to introduce the key thought leadership ideas within your desired themes that help educate and inform your target audience. Thought leadership can stimulate need identification in your audience plus help them understand how to best differentiate among different offerings in the category. Once your content is published, the next two elements can be immediately activated.
Family it.
'Family' in this context is my shorthand for the blogs and social marketing efforts of related products and brands. If you are marketing a product within a large organization, this could include blogs and social personas of other products and services as well as the corporate brand itself. Of course, not every marketer is lucky enough to have this setup. But even if you don't have a ready-made family, you still have the opportunity create your own 'family' of products and brands that can co-operate together and support this content amplification strategy.
First, your 'family' can and should amplify the contributed placement itself. This typically takes the form of a tweet or Facebook post sharing the published article link with their audience. But the impact can be extended when you repackage to make it relevant for the Family blog and social audiences.
When you repackage for Family, bring the themes and ideas introduced in the original, unbranded contributed content one step closer to both products/brands. Relate the features and benefits of the specific products and brands to the broader themes introduced in the contributed content. You want to find relevant ways to talk about both your product and the Family product. Many times this falls into a "better together" story where you can also feature a customer story to help illustrate the benefits. Again, you will link to the contributed article as you reference the themes, but you will also link to relevant conversion pages on your own and/or your Family's sites.
Bring it home.
Finally, you need to bring it home. In this step, you take the thought leadership ideas introduced in the contributed content and draw big, bright lines directly to your product and brand. Like with 'Family it', you first amplify the published contributed article itself through your blog and social channels. And then you can, on an on-going basis, reference the themes in thought leadership and point readers directly to conversion paths for your product and brand that highlight those themes.
Because your thought leadership content was identified from the core positioning and differentiation of your product - and these are fleshed out on your site - there will be many opportunities for your social team to reference the theme (and link to the published article) while also pointing readers to an optimized conversion path on your site.
All together now.
While the strategy may appear simple, its execution is more complex because, generally, different teams are responsible for the different elements. Contributed content often sits in communications and public relations, while Family sits in other organizations all together, often product and corporate marketing. Bring it home comprises website, content and social teams that have to work in concert. Articulating the strategy in this way helps align diverse and dispersed team so each understands their role in maximizing the benefits of contributed content.
Freemium is a "little black dress"
There are so many benefits of a Software-as-a-Service (SaaS) subscription model that I'm not surprised that it's become the darling of the start-up set. And now even Enterprise software is moving in this direction.
The most attractive business benefit of SaaS is the predictability of revenue -- and in today's business environment, that is nothing to sneeze at.
The secret to SaaS success.
Adding freemium to SaaS can be the secret ingredient that has a key business benefit: improved marketing investment ROI. And as a marketing leader, isn't this our holy grail?
Freemium is when you give away (free) some valuable part of your paid-for (premium) product. Free + Premium = Freemium.
Freemium as a category includes limited-time free trials. However, in my experience, it is when you offer a persistent free experience that the most significant marketing efficiencies are achieved. Why? Because with a persistent free product your existing customers become marketing agents for your product. And that allows you to amplify the investment you made to originally acquire that user.
Let's do the math: freemium ROI is real.
Let's say you invest $1,000 to acquire a new customer with a lifetime value of $2,500. That's already an ROI to be proud of. Now if that customer were able to bring you two other customers over his lifetime, your Cost Per Acquisition (CPA) is now $300 for each of those customers, for a total lifetime value of $7,500. Wouldn't your CFO love to hear that?
Of course there isn't just one thing you need to do in order to successfully execute a freemium business strategy. In an earlier post I likened managing a freemium business to flying a plane because marketers must actively watch and calibrate many different 'dials' up and down the funnel, all at once. But one of the most important things you can to do is to build the product experience in a way that takes advantage of social behaviors.
The most attractive business benefit of SaaS is the predictability of revenue -- and in today's business environment, that is nothing to sneeze at.
The secret to SaaS success.
Adding freemium to SaaS can be the secret ingredient that has a key business benefit: improved marketing investment ROI. And as a marketing leader, isn't this our holy grail?
Freemium is when you give away (free) some valuable part of your paid-for (premium) product. Free + Premium = Freemium.
Freemium as a category includes limited-time free trials. However, in my experience, it is when you offer a persistent free experience that the most significant marketing efficiencies are achieved. Why? Because with a persistent free product your existing customers become marketing agents for your product. And that allows you to amplify the investment you made to originally acquire that user.
Let's do the math: freemium ROI is real.
Let's say you invest $1,000 to acquire a new customer with a lifetime value of $2,500. That's already an ROI to be proud of. Now if that customer were able to bring you two other customers over his lifetime, your Cost Per Acquisition (CPA) is now $300 for each of those customers, for a total lifetime value of $7,500. Wouldn't your CFO love to hear that?
Of course there isn't just one thing you need to do in order to successfully execute a freemium business strategy. In an earlier post I likened managing a freemium business to flying a plane because marketers must actively watch and calibrate many different 'dials' up and down the funnel, all at once. But one of the most important things you can to do is to build the product experience in a way that takes advantage of social behaviors.
Successful deployment takes advantage of social behaviors.
Your product must be built to take advantage of the social, viral behaviors inherent in the problem your product solves. Social behaviors aren't just what happens on Facebook or Pinterest, and viral doesn't just apply to grumpy cat videos. Social happens any time one person shares an experience with another person.
Take a business meeting, for instance. I would bet that your first thought about meetings isn't that they are "social" or "viral". But, think again. When I am organizing a business meeting with you, I am inviting you to interact with me around a relevant, common interest. During that interaction, content -- in the form of written notes or whiteboard photos -- are created and shared. Guess what? All that is social behavior. If you are thinking about freemium, you need to take a fresh look at the problem your product addresses and think about how the relevant social aspects can be enhanced.
To be clear, I am not advocating social "lip service". It is not simply adding like or share buttons into the product experience. The product experience needs to remain true to the need it is addressing and the experience should facilitate the social behaviors already occurring around that need.
Take that dress out of the closet.
Freemium and SaaS may be the current "flavor of the month" but success with this model still comes down to an understanding of the customer need and creating an end-to-end experience -- from marketing through product -- that meets that need and delights the customer. For me, Freemium is like the "little black dress" -- a classic, just being rediscovered.
Your product must be built to take advantage of the social, viral behaviors inherent in the problem your product solves. Social behaviors aren't just what happens on Facebook or Pinterest, and viral doesn't just apply to grumpy cat videos. Social happens any time one person shares an experience with another person.
Take a business meeting, for instance. I would bet that your first thought about meetings isn't that they are "social" or "viral". But, think again. When I am organizing a business meeting with you, I am inviting you to interact with me around a relevant, common interest. During that interaction, content -- in the form of written notes or whiteboard photos -- are created and shared. Guess what? All that is social behavior. If you are thinking about freemium, you need to take a fresh look at the problem your product addresses and think about how the relevant social aspects can be enhanced.
To be clear, I am not advocating social "lip service". It is not simply adding like or share buttons into the product experience. The product experience needs to remain true to the need it is addressing and the experience should facilitate the social behaviors already occurring around that need.
Take that dress out of the closet.
Freemium and SaaS may be the current "flavor of the month" but success with this model still comes down to an understanding of the customer need and creating an end-to-end experience -- from marketing through product -- that meets that need and delights the customer. For me, Freemium is like the "little black dress" -- a classic, just being rediscovered.
Good Leaders Get Out of Their Own Heads
A recent Harvard Business Review blog about team members who derail meetings, reminded me of Whitman's famous
quote, "Be curious, not judgmental." Over the past few months I have shared this quote quite a bit.
My current role has me working closely with a team in
Copenhagen. Since I live near San Francisco, that's not very
"close". In fact, it's over 5,000 miles, an 11 hour plane ride and a nine hour time difference. So in a typical workweek there are only
about 10 hours of overlap "working" time - and that's only because I start my
days with meetings at 6:30 or 7 am.
Yes, we use video conferencing and of course we use social
business collaboration tools for managing team workflows and communications. Technology is how we can make it work. But it's absolutely not easy.
This experience has brought home for me just how easy it is
for people to be influenced by 'group think' and subtle biases. In
psychology it's called ultimate attribution error and it can be summed up as "when members of our group make a mistake, its an accident or an anomaly, but when members of another group do so, it's typical of them."
Ultimate attribution error is apparent among people who
interact every day, and it gets exponentially amplified when distance limits
personal interactions and communications are primarily written and asynchronous.
In my situation, the two groups in question could not be more
different. One group is the acquired start-up: a less than 20-person team,
mostly co-located in one office in Copenhagen. And the other group is the
acquiring multi-billion dollar company with thousands of team members in a
division spanning multiple locations in California and around the world.
Even for seasoned leaders like myself who have gone through
required hours of "diversity training" and have earned some
self-awareness through the school-of-hard-knocks -- in the moment, I can and do get frustrated. It is
difficult to always assume positive intent and to be authentically curious about the other team member's actions and point of view all day long, every day.
So multiple times each week I remind myself - and my team members in both locations - to stay mindful of this reality. I find it is especially important to take a moment in those emotionally charged times when you perceive
the other person as "derailing a meeting” or “going too slow” or “doing
something stupid”. The HBR blog post says it best: you must “suspend your
assumption that you understand the situation and others don’t.”
It takes strong leaders in both “groups” to be mindful of the potentially dysfunctional tendencies and biases that exist between geographically dispersed teams. Leaders must actively self-regulate their own attitudes and behaviors while also proactively address developing these important ‘soft’ skills in all team members.
I think I will post that Walt Whitman quote on my monitor to help me keep out of my own head. What will you do?
I think I will post that Walt Whitman quote on my monitor to help me keep out of my own head. What will you do?
Stop Calling Me "Ma'am" and See the Size of Your Tips Increase
Here's my suggestion for the hard-working wait staff and service workers outside of the Southern U.S.: please, please don't call your customers "Ma'am" because it will affect the size of your tip.
I rationally understand why you're calling me ma'am. I do. I'm older than you and it's a sign of respect when you don't know my name. Unfortunately, it's also jarring. It jolts me out of my pleasurable anticipation of coffee and into the realization that you perceive me as a "ma'am".
To me, being "ma'am'd" is a a cold-water-in-the-face reminder that I now can only look good "for my age" and not just look good. That society perceives me as less valuable and less relevant simply because I'm north of forty. 99.9% of the time, this doesn't cross my mind. It's just at that precise moment when someone calls me "ma'am".
I'm not alone here. One can find many blogs devoted to women reacting to the term ma'am. Some react with anger like Kristen Hansen Brakeman, and some like Ronna Benjamin, vow to work on changing their negative perception and reaction to that salutation.
"So what," I hear you thinking, "I can't control how you feel, I am calling you ma'am with the best of intentions." But you should care about how I, and other women in the same age bracket, feel about being called ma'am - because it will affect your tip and our continued patronage.
As I mentioned in my earlier post, Emotion First, all good customer experiences - both online or offline - originate from emotion. You don't want to create experiences where your customer starts "thinking." You want to keep them in the feeling zone and ideally feeling good.
Each time I am jolted back to the "thinking" zone, I am less likely to buy that baked good or linger over a second cup or mindlessly drop my change in the tip jar versus rationally putting it neatly back into my wallet.
My suggestion: just call every woman "Miss." The young women won't notice and the older women will continue having a good experience. Why not try it and test making the change in your standard operating procedures - I bet you'll quickly see the evidence in your tip jar.
I rationally understand why you're calling me ma'am. I do. I'm older than you and it's a sign of respect when you don't know my name. Unfortunately, it's also jarring. It jolts me out of my pleasurable anticipation of coffee and into the realization that you perceive me as a "ma'am".
To me, being "ma'am'd" is a a cold-water-in-the-face reminder that I now can only look good "for my age" and not just look good. That society perceives me as less valuable and less relevant simply because I'm north of forty. 99.9% of the time, this doesn't cross my mind. It's just at that precise moment when someone calls me "ma'am".
I'm not alone here. One can find many blogs devoted to women reacting to the term ma'am. Some react with anger like Kristen Hansen Brakeman, and some like Ronna Benjamin, vow to work on changing their negative perception and reaction to that salutation.
"So what," I hear you thinking, "I can't control how you feel, I am calling you ma'am with the best of intentions." But you should care about how I, and other women in the same age bracket, feel about being called ma'am - because it will affect your tip and our continued patronage.
As I mentioned in my earlier post, Emotion First, all good customer experiences - both online or offline - originate from emotion. You don't want to create experiences where your customer starts "thinking." You want to keep them in the feeling zone and ideally feeling good.
Each time I am jolted back to the "thinking" zone, I am less likely to buy that baked good or linger over a second cup or mindlessly drop my change in the tip jar versus rationally putting it neatly back into my wallet.
My suggestion: just call every woman "Miss." The young women won't notice and the older women will continue having a good experience. Why not try it and test making the change in your standard operating procedures - I bet you'll quickly see the evidence in your tip jar.
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