Social Media Gains are Impressive

For the last two years the good fellows at CMO.com have published an exceptionally important chart that shows the impact of nine top Social Media (SM) tools. Everything from LinkedIn to Facebook, from YouTube to Tumblr is examined. And rated.

The CMO's Guide to the Social Media Landscape is even color-coded. At a glance you can see what tools are having the biggest impact. Lay eyeballs on this and it becomes abundantly clear that SM needs to be in the mix for any organization seeking to make valued connections to key audiences.

To see for yourself, click here (http://tinyurl.com/6bhrhjb).

Small Business Summit

The Chicago Tribune's Carolyn Rusin was kind enough to interview me recently to help preview an upcoming Barrington Chamber event designed for local business owners.

Click here to link to the story.

In 2011 I take my turn as the elected Chairman of the Barrington Area Chamber of Commerce. One of my goals is to be sure that chamber membership is ever-more relevant for small business owners, especially the many new start-ups that have resulted from the economic downturn of the last couple years.

It seems more than ever that a local chamber provides a nurturing atmosphere for business owners who may be confronting new challenges for the very first time. Whether a new business owner needs help with marketing, accounting, banking, branding, sales, product development or just wants to have a friendly conversation with somebody who's "been there, done that," a local chamber is an effective tool to successfully launch a business.

When Does Passion Trump Expertise?

Ron Santo died December 2, 2010. In his 70 trips around the sun he was many things: an All-Star ballplayer, a business owner, a popular broadcaster and a humanitarian.

As a ballplayer, Santo won his share of awards (Gold Gloves & All Star games). He owned a series of mostly profitable businesses following retirement from the game as a player. His achievements as a broadcaster transcended convention. He was anything but the consummate analyst in the booth. Santo was all grunts and groans and "Ohhhhh noooooooo" exclamations. His affection for the Cubs -- a team he signed with as a rookie for 4x less than what he was offered by another ballclub -- endeared him to Cubs fans everywhere. {Cubs fans may have thick skins from years of falling short, but that doesn't mean the pain of losing isn't any less real.}

The story has been told many times over the years; when Santo was diagnosed with diabetes as a young ballplayer he hid the disease from all but his closest teammates. He kept candy bars and Cokes hidden in the dugout for those times mid-game when he felt his blood sugar dropping.

He helped raise millions of dollars for diabetes research. He poured the same energy for baseball, business & broadcasting into finding a cure.

On the field he wasn't the slickest fielder. In business he had a few clunkers. In the broadcast booth he was far from polished. For Ron Santo, what drove him to succeed was his passion. He had that special something that all of us should consider, admire and emulate.

Are You Marketing Relentlessly? (Part 2)

This entry is the conclusion to a two-part series on "Relentless Marketing," a marketing approach I use and advocate for any other small business owner.

Q. What makes the most sense for a small business when it comes to social media?

A: There are so many options these days that seem cheap and easy. I'm hard-pressed to say that one thing or another makes the most sense. Over time, if I've learned anything it's that integrated marketing works best for any company, organization or non-profit. The idea here is that the business owner uses a balance of tools -- website, point-of-sale, targeted advertising including Google AdWords, design, networking and media relations -- in a consistent, relentless manner. When it all comes together the new business pipeline stays full.

Q. Are there any guidelines for deciding what percentage of revenue or expected revenue should be spent on marketing?

A: Do what's comfortable, but don't stay locked in. A good rule of thumb is that 5-10 percent of total revenue should be spent on marketing. There are plenty of examples, though, of companies that spend far more or less and get the results they want. What it boils down to is this -- can we ever have too many customers?

Q. Is there any way besides trial and error to determine what marketing tactics are best for a particular business? That is ads vs. direct mail vs. email vs. social media, etc.

A: For my small business clients I always recommend that some sort of tracking system be instituted to see how customers find out about their business. More sophisticated outfits, regardless of size, are continually polling customers on not just satisfaction, but also on what influences them. A simple survey goes a long way in determining just what makes a customer happiest. I never like trial and error. I think it's really important to look at what the competition is doing AND saying, and then figure our how to differentiate my clients so that they stand out more. When we figure that out, sales improve and life is good!

Market Relentlessly (1 of 2)

Recently, I was asked by colleague Gary Swiontek, GrooveMaster Graphics, to share my thoughts on small business marketing. We'll share some of those ideas over the next two installments of View from the Marsh.

Gary: What do you think small businesses or start-ups should do about marketing?

MB: "I think one of the mistakes small companies make is that they stray from marketing on a regular, consistent basis. My mantra is "Market Relentlessly." The idea is to spend time and money every week on outreach to new customers. I'm a lot like many of my clients -- I always feel best when my new business pipeline is full. In the first few years of my agency we marketed in a surge-forward, fall-back manner. We'd surge ahead with marketing, sign new clients, take care of the work and when the project was completed we'd fall back to start the process all over again."

Gary: Where is the best place to start?

MB: "Frankly, way before doing a newsletter, brochure, advertisement, website or anything else, we help our clients work on an "Elevator Speech." Most small business owners would be surprised to think that something so basic is so critical to their success. A great elevator speech is concise, offers a solution to a problem and ends in a provocative way that prompts more questions from the listener. It's really a critical building block for a successful marketing campaign."

Gary: How much time is involved in what you call "marketing relentlessly?"

MB: "So many people start a business because they have some sort of expertise or technical skill. In my case, I was trained as a journalist and had years of experience working for the media before getting the bug to join a marketing agency. I caution small business owners about getting too wrapped up doing things outside their area of expertise, especially hands-on marketing. For my business I rely on outside experts for financing, tax planning and technology. As much as I may want to save some money by doing these things myself, it makes far more sense for me to hire an expert so I stay focused on what I do best."