By Christopher Rollyson Everyone wants to know the secret sauce, how to build vibrant communities in digital social venues. Here is a question to a community manager to whom I responded recently in a gated enterprise forum. The question was, “What are some effective ways to improve circle count and follower engagement on google+?” Read on for some general pointers and references for further reading. Continue reading Quick Notes: How to Build a Vibrant Google Plus Page
By Christopher Rollyson ZDNet reports on “research” that finds that websites provide 7 times more sales leads than “social media.” Unfortunately, the writer doesn’t appreciate the self-irony in the second paragraph: “A company’s corporate website was found to be the top source of new sales leads online — second only to personal referrals..”
As B2B continues to adopt social business, more word of mouth, i.e. personal referrals, happens online. Another reason I’m calling out this post is that it misinforms readers by treating “sales leads” as a homogeneous category. Our clients don’t care about general adoption; what’s more relevant is adoption by their prospects. This post treats all leads as the same, so it’s really the equivalent of informational fast food.
To end on a dour note, misinformation can work to your advantage because your rivals may read it and believe while you can see through it, invest and pull ahead.
By Christopher Rollyson In Why Lie?, Seth Godin points out that prospects of (B2B) salespeople often lie because they do not want their decisions to be questioned by salespeople: “… when we announce that we’ve made the decision to hire someone else, or when we tell the pitching entrepreneur we don’t like her business model, or when we clearly articulate why we’re not going to do business, the salesperson responds by questioning the judgment of the prospect.”
Great insight, but it pre-supposes a lack of trust that is totally outdated and unnecessary. Let’s review how this comes about and how to disrupt the whole cycle. Continue reading The Cost of the Trust Gap—On Seth Godin’s Why Lie?
By Christopher Rollyson Private equity firms are learning that “private” can be a disadvantage in the era of digital social networks. G7 voters are frustrated by prolonged poor economic performance, falling prosperity and growing income disparities. P/E firms are an all too convenient target, and US presidential candidate Mitt Romney is bringing unwelcome exposure to the industry. There is a strong populist theme to U.S. and European politics, which sets the scene for a prolonged era of criticism, precisely when the industry is struggling, and firms are closing.
Smart P/E firms will be grounded and strategic about building trust among lawmakers, their publics and other stakeholders, and using digital social networks could play a key role in educating stakeholders and interacting with readers with transparency and principles, thereby building trust and dampening criticism. Specifically, P/E firms should: Continue reading Romney Spotlight Reveals Trust Gap Between Private Equity & Public
By Christopher Rollyson WSJ Take on Google Plus Epitomizes Market Myopia and Opportunity reveals how conventional wisdom misunderstands Google+ and how to take advantage of the situation.
Most people have the whole “web 2.0 thing” sorted out by now. They have accounts in LinkedIn for business, Facebook for personal and Twitter for I-don’t-really-know-but-I’m-on-it. They also know that Google “doesn’t get social” as the search behemoth has littered carcasses of failed ventures around the web.
Alas, as I have argued here and in conference presentations since Google+ launched, this misunderstanding is completely understandable—and wrong. Most interesting here, it elevates opportunities and threats for market participants. Continue reading WSJ Take on Google Plus Epitomizes Market Myopia and Opportunity
By Christopher Rollyson The fascinating post in the Read Write Web outlines a new trend, “Relocalization” or the inevitable “Local 2.0” that’s a backlash against malls, industrial “retail” and online “community.” It predicts a resurgence of “face to face” interaction, and people paying a premium for locally produced products and “townish” community.
It’s a new synthesis: people increasingly don’t believe in commuting, and many workers are accustomed to working “from home” or in Starbucks or other public coworking spaces. Local 2.0 carries a strong green, anti-carbon tinge as well. And it’s not at all incompatible with periodic jetsetting, everything can interoperate. Definitely worth watching!
By Christopher Rollyson Here’s a useful financial services social business example from Forbes. It details how a Midwest financial services firm grew at competitors’ expense by using LinkedIn, Twitter & legacy communications.
Notice that Jefferson, an investments firm, engaged its channel (financial advisors), using LinkedIn, YouTube, Twitter and legacy marcom. Their momentum enabled them to maintain their pricing while competitors felt compelled to lower theirs.
Another powerful lesson is, during “downturns,” don’t follow the herd and cut sales and marketing investments, especially when you can use social business to magnify impact as Jefferson did. Well done! #li
By Christopher Rollyson In case you missed it, this seminal post from the New York Times shows a startling example of “big data” hitting retail. Data collection and mining have enabled Target, for example, to predict what degree of pregancy young mothers are in—based on the kind of things they buy.
Although Valley visionaries and enterprise data engineers have been talking about “big data” for years, this post brings it down to the personal retail level. Due to the growing appreciation of social data and behavior, data scientists and marketers now have the glue to use data to increase relevance to customers and clients.
In this post’s main example, data engineers analyzed purchase behavior of pregnant mothers, sifting through voluminous retail data, and they found plenty of patterns that indicated that women were pregnant, down to the trimester! Obviously, enterprises have a large responsibility to use data in ways that won’t violate trust, and many will make mistakes in their efforts to pump up quarterly numbers.Put another way, buying transactions are *very* social, so retailers, whether bricks and mortar or ecommerce, will unleash tremendous intelligence in the next 3-5 years. The value of big data intelligence will be increased by an order of magnitude when combined with social network data.
By Christopher Rollyson As I read Jill Konrath’s excellent post on how to ask for “referrals” and mistakes that most salespeople make, it occurred to me that salespeople could do even better by breaking that model completely. Jill’s excellent point is that salespeople are uncomfortable with asking for referrals, so they cop out and do it badly by using a throwaway “Do you know anyone..” But I would tweak her suggested, “Whom should I meet” even further by focusing on client, not [salesperson’s] company. Continue reading B2B Sales Referrals Outdated Concept: How to Transform
By Christopher Rollyson Google Plus Disruptive Potential Reflected by Conference Audiences summarizes insights from audience reactions to Google+ presentations. CSRA launched the Executive’s Guide to Google+ because we thought it had significant disruptive potential for many of our clients, and our recent conference appearances (link to presentation below) have only underlined two of Google+’s unique attractions: your competitors don’t understand it and Google is managing it as a completely different animal, not a social network. Here I’ll share audience reactions to my recent Google+ presentations at public social business conferences and private corporate meetings.
Continue reading Google Plus Disruptive Potential Reflected by Conference Audiences
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