Worry Less About ROI – Worry More About Being Relevant

People are obsessed trying to figure out ways to measure ROI (return on investment) from social media marketing – and from other forms of marketing. ROI is important, but can be a red herring. At the end of the day, ROI is meaningless if your product or service isn’t relevant. Here’s why:

What do you think? Is relevancy just as important as ROI?

Focus On Conversions, Not Just On Site Traffic

Many companies, especially small business and startups, obsess about the amount of traffic to their site.  Site traffic is important – it brings attention and the opportunity to convert visitors into users or paying customers. But traffic alone isn’t enough. In the following video, I offer three reasons why you should spend as much time focusing on your conversion efforts as you do focusing on your marketing and other traffic-generating efforts.

What do you think? Are conversions as important as traffic-generating efforts?

Are You Marketing You or Your Message?

There’s a common misconception, especially among those interested in social media, about content and self-promotion. Some argue that people shouldn’t worry about self-promotion and shouldn’t attempt to promote their commercial activities.

This attitude has prompted some of the thoughtleaders of social media – those who share outstanding content day after day – to constantly defend their own activities that are, or could be perceived as, commercial in nature.

I was excited to see Chris Brogan, Darren Rowse, Brian Clark and Sonia Simone launch Third Tribe yesterday (I joined). I was unhappy to see that Chris included a few paragraphs for the “naysayers” – explaining why he was launching this new venture. Here’s what Chris wrote:

Any time I talk about money, I get a bunch of emails telling me that I’ve jumped the shark or that I’m a sellout. I did when we published Trust Agents. I did when I took my first affiliate ad for Thesis. I’ll just say my part about this up front, and you can blog whatever about it elsewhere.

The reason for building a membership forum site is that we can share information that we use for our businesses. It’s not what we want to post on our blogs. It’s something people are paying to learn and hopefully use for their own business efforts, and because of that, we think it’s of value. Don’t want it? Don’t buy it. I do plenty for free, and that’s still useful, too.

It’s not for everyone. It’s for those who want to step up their online marketing game.

The attitude and rhetoric of the naysayers – especially directed towards people who legitimately share great resources and knowledge – is appalling. The rhetoric – often driven by ignorance and jealousy – has caused much damage. Trust in information from friends and peers has dropped significantly over the past year.

Much of this damage has been caused by confusion over, and misunderstanding of, self-promotion. Everyone, whether they intend to or not, self-promotes.

Let me repeat that: everyone self-promotes.

Whether or not your online (or offline) activities support or are supported by commercial interests, you self-promote. When Marc Cuban writes in his blog, he self-promotes. He may not always intend to do so, but he does self-promote. Every time. So do I, whether I intend so or not. Sharing IS self-promotion.

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Startup Tip: Challenge Your Customer’s Assumptions

Green initiatives are all around us – green building, agriculture, computing, design. But while more companies and people are doing more things, the needle is hardly moving. This is not surprising. The last several centuries – particularly the 20th – have promoted consumption as a key to a better life.

One reason that the needle is hardly moving: failure to change assumptions. Manufacturers continue to produce tons of products – with “Energy Star” or “green” labels on it. We’ve done little to alter our assumptions about consumption and as a result, it seems like we’re fighting a battle we cannot win.

Green initiatives must demonstrate efficacy and also must educate people and persuade them to sometimes spend MORE money, often for less. For every green business, there are dozens who don’t care much about being green. Those promoting green practices are starting to understand that real progress will require people to change their assumptions about consumption.

Startups can learn an important lesson from the public’s collective response to green initiatives: to change behavior, you sometimes have to change people’s assumptions. This is especially true for startups that are trying to get people to do something they’ve never done before. Before Twitter, most people would have said that it would be impossible and futile to attempt to converse in 140 character phrases. Twitter has succeeded, in part, by persuading people to change their assumptions about the length of communications.

It’s not enough to have a technically superior product. Betamax was technically superior to VHS. HD DVD was technically superior to Blue Ray. Consumers don’t always buy the best products – they purchase products they believe are best. Many consumers ignore organic foods because of price – despite the fact that they believe that organic foods are healthier. Solar energy has failed to gain acceptance except when the government heavily subsidizes the technology so that the price of solar is equal to or less than competing technologies.

It’s not easy to change assumptions. Companies that attempt to do so are seen by some as heretics. Apple is perhaps one of the best examples. Thousands of articles have been written during the past week about what’s NOT included in the upcoming iPad. People assume that because other manufacturers have included usb ports, cameras, and other bells & whistles on tablet PC’s, that the iPad should have all of those things too. But Apple has never followed – they’ve always led by asking their customers to change assumptions about how they would use their PC.

Remember when Apple removed the floppy disk from the iMac G3 in the late 1990s? Many people were shocked and it took nearly all other manufacturers another decade to start selling PCs without a floppy drive. By challenging assumptions and asking their customers to change their behavior (i.e. stop using floppies), Apple has continued to prosper and innovate.

Consider the products and services your company offers. Most companies compete solely based on price and/or features.

The smart companies…innovate by educating and helping to shape their customers’ assumptions. What are you doing to challenge YOUR customer’s assumptions?

How To Get Attention For Your Startup

Every startup wants to get attention. But getting attention is not easy for a young company, especially if your startup is not in Silicon Valley. In this video, I offer five suggestions to help you get attention for your startup.

Startup Tip: Focus On Real Products And Services, Not Vaporware

It’s tempting, especially for a new startup, to talk about the cool new things you’re working on. But publicly talking about vaporware can be counter-productive and can even impact your ability to finish the product or service on time. In this video, I share a few examples from our own experience.

If you’re enjoying these videos, I ask for a small favor in return. Leave a comment with a suggestion or question or retweet this post (or both). And if there are particular topics you’d like to hear about – please let me know in the comments.

Find The Right Voice For Your Startup Or Small Business

Every startup or small business needs to find the right voice to communicate with their customers, potential customers, and community. The right voice can be a key differentiator for your startup or small business. The wrong voice can lead to failure.

Finding the right voice isn’t rocket science – but does require you to think about your audience, the person doing the speaking, and the content of WHAT you’re communicating. In this video, I share some tips about finding that right voice for your business.

Do you have other tips to add or your own story to tell? Please do so in the comments…

Tribes and Tribal Leadership

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The book Tribes by Seth Godin is slightly larger than a CD jewel case. Yet the wisdom Godin shares in the book resonates on a MUCH bigger scale – and apparently with MANY people (the book has been the #1 bestselling leadership book on Amazon for nearly a year).

Godin suggests that anyone, anywhere can be a leader. The one thing holding most people back is the fear of failure.

Tribes isn’t a step-by-step manual about being a leader. Godin explains that:

Every tribe is different. Every leader is different. The very nature of leadership is that you’re not doing what’s been done before. If you were, you’d be following, not leading.

Tribes is about making a choice – to lead or not to lead. Using real world examples, Godin tells stories about how famous and not so famous people made the choice to lead and the amazing things they’ve accomplished.

The insights in Godin’s book are not profound – and maybe that’s the point. For example, Godin skillfully shows time and time again why management is not the same as leadership.

Management is about manipulating resources to get a known job done … Managers manage a process they’ve seen before, and they react to the outside world, striving to make that process as fast and as cheap as possible. Leadership, on the other hand, is about creating a change that you believe in.

Godin writes that it takes only two things to turn any group into a tribe: a shared interest and a way to communicate.

So a leader can help increase the effectiveness of the tribe and its members by

  • transforming the shared interest into a passionate goal and desire for change;
  • providing tools to allow members to tighten their communication; and
  • leveraging the tribe to allow it to grow and gain new members.

Most leaders focus only on the third tactic. A bigger tribe somehow equals a better tribe. In fact, the first two tactics almost always lead to more impact.

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We Cannot Change The Past, But We Can Change The Future

3565828392_5dbd6b9000_oA few days ago, I watched an episode of The Simpsons.

In that episode, called “In the Name of the Grandfather”, the Simpson family travels to Ireland so that Grampa Simpson can visit a pub where he had the best night of his life. In one scene, the pub owner is watching a  horse race and is screaming madly for one of the horses to go faster and win. When the horse loses, the pub owner takes a video tape out of the VCR and mumbles that the horse can’t win the darn race (which took place in 1979!).

I laughed. How could the horse win? The pub owner was watching a recording of a 30 year old race that the horse lost. But after laughing, I started thinking. We all think about the past. We hyper-analyze our decisions and the consequences of those decisions. We assess what would have happened if we took made different decisions. We dwell on our mistakes.

It’s both necessary and helpful to learn from mistakes. But some of us obsess about the past – just like the pub owner (I’ve certainly done that at times). And in our obsession with the past, we often lose sight of the fact that we cannot change the past. Ever.

But we can change the future. We should obsess about that instead.

image credit: fragmented

There’s Only One Cinderella

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Most know the classic folk tale Cinderella. It’s a story about a young woman living in obscurity and neglect who unexpectedly finds love and happiness.

Cinderella’s story illustrates something that we often forget. There’s only one Cinderella.

Why should you care?

In our efforts to achieve success (in whatever we do), we often try to emulate people who are successful. Basketball players want to play like Michael Jordan, movie directors want to make movies like Steven Spielberg, authors want to write books like J.K. Rowling. But at the end of the day, there’s only one Michael Jordan, one Steven Spielberg and one J.K. Rowling.

Perhaps we are overly obsessed with emulating and understanding how/why others have succeeded?

Seth Godin was right that most people spend all their time on trying to understand tactics to get things done and to change minds. But in the search for that perfect strategy, we lose sight of our goals, we stop making good decisions, and we forget that ultimate success is measured by our ability to earn the trust and respect of people around us.

Each day, we have an opportunity to write our own unique story. What will you do today to earn the trust and respect of people around you?

image credit: Joe Penniston