Wrong!

EVERYTHING YOU’VE EVER LEARNED ABOUT MARKETING IS WRONG!

forehead-slapIn the physical world, if you have a physical location and you are selling your products or services, there is a saying the business world lives by.  “Distribution is King” or in other words “He who has the most, Wins!” A lesser known fact that brings truth to these statements is “Marketing is Queen.”  Think “Walmart” whether you believe they are a good corporate citizen or not the reason Walmart is the largest retailer in the world is not due solely to their “low prices.”  It is largely due to their development of one the most sophisticated distribution systems in the world.

Don’t believe us?

Think about the last time you saw a Walmart employee going through the aisle checking the inventory.  If you shop there you will rarely if ever see someone doing this.  The reason you don’t see it is because let’s say the store you go to as 20 or so of a particular item.  A number of items in stock are entered into the system and the scanner keeps track of how many are purchased.  When the number of items get down to a certain number lets say 7,  based on the timeframe of sales and the popularity of the product, The system automatically puts in a new order to the warehouse for more items to be shipped to that store location.

However online, we have come to realize that in the digital world, “Content is King. Interestingly enough Marketing is still Queen.

In school or typical marketing training sessions, we are taught primarily about “Tactical Marketing.”

Tactical Marketing:
Tactical marketing is the execution of your strategic marketing plan as far as generating leads, placing media, creating marketing tools, and implementing a follow-up system.  In other words, its the medium you message is delivered in.

What we are nearly never taught is about Strategic Marketing.

Strategic Marketing:
Strategic Marketing has to do with what you say, how you say it and who you sit too.  In other words, it’s the content of your marketing message.

The distinction between Strategic and Tactical Marketing is huge.
Most people mistakenly assume that when you talk about marketing that you are automatically talking about placing ads, generating leads, sending out mailers, attending trade shows, creating brochures, implementing a follow-up system, etc, or in other words Tactical Marketing.  They fail to realize that the strategic side of the coin”what you say”, how you say it and who you say it to is almost always MORE important than the marketing medium WHERE you say it.

 

Gone In 60 Seconds

Did you know that every 60 seconds Twitter sees (on average) more than 98,000 tweets? And that over 320 new users register on the network each and every minute? Read more

Social Networking Anonymous

social-media-addiction1Steve Rubel has published a number of interesting stats about the adoption of social networking. Most notable is that 66 per cent of Americans now use a social networking site, predominantly Facebook. And, 43 per cent of these users visit the social networking site multiple times per day.

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Five reasons corporations are failing at social media

“It’s not rocket surgery.”

rocket

That malapropism became a bit of a mantra at last week’s Inbound Marketing Summit.

Social media isn’t complicated. When you boil it down it’s about listening to your customers, being helpful by offering your knowledge and giving them interesting content to share and thereby advocate for you. The IMS speakers shared several case studies (yes, too many of them mentioned Comcast and Zappos) on how organizations have embraced social media to connect with and built trust and affection among customers. None of the examples required hyper-specialized knowledge or technology for a company to connect with people. Read more

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12 Incredible Social Media Marketing Statistics [INFOGRAPHIC]

Did you know that 87 percent of SMBs say that social media has helped their business, and that 74 percent of marketers saw an increase in website traffic after investing just 6 hours per week in social networking?

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Social Media Work Flow

696Ever wonder how much time you should devote to social media each week? While there is no set formula, this infographic breaks down the  components of maintaining and measuring a social media strategy, based on a 40 hour work week. Maintaining a social media strategy is not only about scheduling tweets and replying to mentions. Rather, social media  marketing is a living process in which each component is connected to the others. From content creation, to post scheduling, to campaign development, to analytics reporting, social media is an ongoing process.

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84% of Social Media Programs Don’t Measure ROI

STATS: 84% of Social Media Programs Don’t Measure ROI

106743We talk a lot about the rapid adoption of social media in a wide array of industries. According to an August 2009 survey by Mzinga and Babson Executive Education, 86% of professionals in a variety fields said that they have adopted social media in some way.

While the survey results are great in that they indicate an enhanced role social media in many industries, it also indicated that some professionals or companies are adopting social technologies without having a way to actually measure how effective or useful the measures actually are. In fact, 84% of respondents said they don’t currently measure the ROI (return on investment) of their social media programs.

Even less encouraging, more than 40% of respondents said they didn’t even know whether they could track ROI from their social tools. This is worrisome because it indicates that industries and professionals are adopting technology without actually taking into account how it will impact their business and what value it will add.

It’s easy to say, “social media will improve customer retention” — and in fact that might be true for a number of businesses, but without proper ways to measure how these tools work, making them more effective and efficient becomes difficult. Moreover, without having an ROI strategy in place, businesses might be more willing to drop social technologies or treat them as a short-term fad. For social media and social technology to really work, businesses need to be able to measure its impact, positive and negative.

How do you or your businesses monitor your social media ROI? If you don’t measure your ROI from social media, why not?

Originally posted on Mashable by Christina Warren

Look Ma, No Hands:

More Than Half Of Companies Say They Are Using Social Media With No Strategy

While 78% percent of corporate respondents say their company is using social media, only 41% say they have a strategic plan in place to guide such activity, according to a new study from marketing firm Digital Brand Expressions. Read more