What every CMO should learn from iStrategy 2010 in Berlin

First of all my utmost respect to the organizers of the conference for putting up such a great event. Given the fact that it was the first one I can only give my biggest kudos to the iStrategy crew.

See the web as a marketplace, not as a marketing instrument!

One of the primary things I have taken away from the event is that hardly any organization pays attention to what their website visitors experience once they have arrived. And even though this event was promoted solely around social media strategy, thus of course perceiving all the social media channels as marketing instruments, I can only repeat what I stated in the MeetTheBoss.tv interview: Please try to put yourself not only into the situation of the customer, but also move forward and start seeing the web as a marketplace, not only as a mean of marketing.

In my interview (for those that had to depart early or didn’t manage to make it to this great event at all) I stated a pretty plastic example; that what is being done now compares to running the energizer bunny through the city, catching everyone’s attention.

Those people will definitely visit your store, but if there is no sales staff there to engage with them your products can have all the value proposition they want and no one will buy, thus rendering the marketing efforts invested in this campaign(s) obsolete.

Wikipedia describes a market as “any structure that allows buyers and sellers to exchange any type of goods, services and information” and this is where you have to go people… the level of the web are customer centric web presentations allowing both customer initiated and proactive engagement from the side of organization running this web operation.

Real time website analytics, backed by behavioral targeting will allow you to pinpoint interested visitors, mark them as prospects and allow your sales staff to directly speak to them through a chat window which will appear on the visitors screen.

Just to give you an insight: I have been experimenting with proactive customer engagement instruments for the past 5 months and have seen two extreme results:

1. Once you initiate the chat window on your visitors screen roughly 40% immediately shut it and leave your site because they perceive their privacy to be invaded and they have never seen something like this before. Due to the fact that I see this kind of interaction to spread magnificently in the next months because of its simplicity however, I think that this rate will drastically reduce over the next 18 months.

2. The other 60% accept the chat request simply because you introduce yourself to them on the fact that you have seen their interest in the specific product/page they’re currently viewing and giving them the opportunity to ask questions they may have in context to this product. Questions which they would have not asked if you would have made them access the contact form (if you offer points of contact at all).

For those of you who would have expected the all healing solution in the post: I’m sorry to disappoint you at this point, but it’s not out there simply because your organization is too unique starting at the vertical you’re in and ending with factors like the mindset inside your company or enterprise and how willing the employees are to embrace new things or how keen they are to engage others.

Utilizing social media as an instrument for internal communication!

Social media has so much more to offer than what it’s primarily being (mis)used for by the companies out there today.

Another very interesting aspect is the internal usage to gain and preserve intellectual property, preventing/reducing the risk of – for instance – re-initiation of projects which have been worked on prior reducing process faults and costs resulting thereof.

An internal blog made available to the whole organization can not only enable horizontal communication which will allow you to spread innovative ideas immediately (and improve them through the discussions which inevitably are going to happen over time) but also catch other ideas for improvement of processes and organizational purposes.

As I have pointed out above, there is no all curing prescription drug which will take care of all your needs. And nor is Microsoft’s Sharepoint!!!1

Corporate Online Reputation Management (CORM)

Nothing is as bad as leaving something uncommented. And why should you? I have just recently found out that pretty much none of the fortune 500 companies of the world listen to what is being said about them on Twitter.

While I could understand that not all channels can be monitored (which is also a lie) Twitter is one of the “hottest” portals.

Don’t see it as negative energy being spread about you on the web but see it as an opportunity to engage with a customer, thus strengthening your relationship with them. Don’t believe me? Well, give it a try. It works, trust me. John McCrea does a magnificent job with it on Plaxo, so why shouldn’t you or Lufthansa, or Bose, or Allianz Global Investors?

Beside the fact that you directly engage with the customer however, you can catch a lot of FREE!!! (That’s the thing without paying millions for people collecting market intelligence for you) customer feedback. Not only what your customers think about your products but also where you should go to have a look for more info about you which you may have not been able to assess which may be stashed in a third party discussion board, blog, etc. Oh yeah, did I mention that THIS INFORMATION IS FREE?

BOTTOM LINE!

Yes, the iStrategy is definitely worthwhile, especially to those organizations which have not undergone any efforts of implementing social media into their marketing strategy. (IMPORTANT: the marketing strategy is only ONE PART of what you should do. Don’t forget the: the objective of social media marketing is to drive customers to you. Don’t make the mistake and leave alone in your desolate virtual warehouse, a. k. a. your website!)

Should you join the next one? Pretty much so.

The value proposition is there, loud and clear and it will most likely give you important insights into the market (and hey, I’m probably going to speak there).

And if you don’t learn anything there is still the possibility to network with some really big people there from several industries.

Even if I repeat myself: there is no golden rule. The more individual your strategy is the more authentic it will come across. Copying is not really the solution. But copying for inspiration and then making it better definitely is an idea to pursue.

For any questions you may have please comment them to this post and/or use my contact info to reach out to me. Or follow @lars_hilse on twitter.

BOOK MONDAY: Learning marketing from the porn industry

Ok, this is my favorite chapter of the book “Adding the ‘E’ to your Business Strategy” ( Ebook | Paper Version | Amazon Kindle ) simply because if there is one industry out there on the web which really has to compete it’s the porn industry.

This implies that they really know their stuff when it comes to branding, search engine optimization (another topic appearing in a few weeks), search engine marketing, etc.

So here we go:

It’s sad but it’s true: if there is one industry on the planet that is fighting for market-share more than any other, it’s the porn industry.

Naturally they are the ones you want to look at when it comes to doing good search engine campaigns, link building, link popularity etc.

Yet the issue we will be focusing on is another impressive and innovative thing they have done to get the attention of the customers they want to sell their non-free products to.

If you do a bit of research on a specific sexual practice, kink, fetish, or whatever you will find out that a lot of the highest-ranking search results are forums or other internet communities containing user contributed content.

User contributed content attracts a lot of search engine traffic because 10000+ users registered on a website with a discussion forum, personals, pictures, etc. can generate a lot more content a day than you will ever be able to. And the best part is that this content is highly diversified and free.

The reason these pages rank so high is because they appear to be informative communities, which have nothing to do with any company trying to distribute products over the web. For non-observant people this is true.

But if you pay attention to the advertisements placed on this website, you will soon find out that most of the links, banners, and what not link to one specific provider of sexually explicit content over and over again.

Ok, let’s get away from the nasty section and move to the good side of life again and what you can learn from this practice.

No, please do not go ahead, cash out a life insurance and create a porn portal. You’re lacking the experience, trust me.

Furthermore, let’s not forget the fact that advertising postage stamps on a website for shoe fetish will hardly have the effect you’re going to be expecting.

So let’s stick with the example that you are a retailer for specific, rare, regionally limited postal stamps. We now go back to draining that life insurance of yours and creating a portal for philatelists where they can discuss insights, share information, maybe even find interesting people over the web in other parts of the world.

Since you’re a philatelist and not only a philanthropist, we will have to create an ROI somewhere along the line to make this whole thing worthwhile.

This we achieve by using any available free space to place links, banners, and other advertisements to your online presentation which will not only lead 100% relevant traffic to your shop.

Also, your relevance in Google’s view will significantly go up because the portal we have created is linked throughout the web on several other portals, websites, and blogs through articles your community users have generated for you (free) and other users have posted elsewhere (free). See the win-win-win-situation here?

Since you have links there to the online shop where you sell your stamps, you will gain visibility too and may end up higher in search results.

The fact that you advertise on this platform will in the near future lead to the fact that other people from related businesses will try to buy advertising space on this website which will again increase the demand of this platform and increase the return of investment of this venture even more.

Just a side note here, but an important one: since you officially have nothing to do with this portal you could not care less what the people do on this portal.

Interested? Keep in mind that in my book “Adding the ‘E’ to your Business Strategy” ( Ebook | Paper Version | Amazon Kindle ) I point out that it’s inevitable that you have to combine all efforts pointed out therein to really make your appearence on the web count.

If you have questions please feel free to discuss them here or ask them directly be contacting me.

BOOK MONDAY: Taking your business from local to global for a few thousand bucks

Remember how last week I told you about website analytics? And the week before that about diversifying operational risk through web campaigns?

While we go through the chapters of my book “Adding the ‘E’ to your Business Strategy” ( Ebook | Paper Version | Amazon Kindle ) please keep in mind that you will not be able to achieve web leadership if you don’t combine all instruments I mention herein.

Every single one is important, yes. But only the combination of all of them alike will bring you the success your competitors are having.

Let’s move on to todays chapter, which is called “Taking your business from local to global for a few thousand bucks”:

Fifteen years ago it was mandatory to set up physical shop if you wanted to expand your business to another country; heck, even if you wanted to do business in another city or state.

You as a business owner are blessed with this situation in the current technological era.

And I say this in reference to the fact that you have the internet as a global and most cost-efficient market place, giving you access to 1.2 billion potential customers worldwide.

You further have the friendly logistic professionals in their purple/orange, brown, or yellow cars and planes who will bring your goods to any given destination on earth – if need be within 24 hours, sometimes even less than that. And that’s not all.

So what’s involved when taking your business international?

As I pointed out earlier you really have to sit down and do your homework.

For instance: different countries have different laws and legal issues, which can easily break your neck. Yes, I mean break your neck.

So figuring out whether you are allowed to export/ship your goods to the country you’re targeting is really helpful to know.

Another, probably the primary factor, is that you have to attract business in this country. Since you have decided to set up shop without a physical shop, we have to raise awareness of your products otherwise.

This can be most easily done through direct or indirect search engine optimization (SEO) campaigns.

While a direct SEO campaign will involve the translation of your complete website and the services and widgets it may include, an indirect SEO campaign will try to attract new customers or prospects to your services via so called link bait.

Let’s take an example: your website is available in the languages English and Spanish and you target the US domestic market with its 300 million citizens, a majority of those being potential customers to your business.

Beside that you are already reaching out to a significant part of the world’s population because those two are the most spoken languages.

Naturally though, hardly anyone from a country with a dominant language, for instance France, will submit their searches to Google in English or Spanish but in French, even though they speak English and/or Spanish fluently.

So what you do is an analysis of this countries habit in reference to entering search terms.

After having ascertained the results from this study, you will most likely want to go ahead and create bits and pieces of bait on the internet.

In our example these will be terms searched for by the world’s French speaking population.

So when someone submits a search query to Google in French, they will wind up not directly on your website, but on a website you have put bait on and which has a link – let’s call it the hook – back to your website.

This way, you’ll be able to attract this specific person to your website, products, or services in your native language without having to go through the hassle of translating your online presentation entirely, but can just profit from an indirect SEO campaign.

By taking this approach and only translating to the most dominant languages (as the buying power of these countries inhabitants will be higher), you’ll reach Europe’s 500+ million citizens and pretty much the rest of the world.

If you want to find out how you can make this plan happen for your organization please don’t hesitate to buy my book “Adding the ‘E’ to your Business Strategy” ( Ebook | Paper Version | Amazon Kindle ) where you will find out how you can analytize the current situation and make the right decisions.

Next week we’re going to move on my favorite chapter, “learning marketing from the porn industry”. That one is so exciting because the sleazy people really know their stuff when it comes to web marketing. So stay tuned people and make sure to tell your friends about me!