The Four S's of Marketing in a Web 2.0 World

What does Web 2.0 mean for marketing small businesses today? This was my topic in a recent panel discussion at the Partnering Works Business Conference on September 26th. I summarized the following points to help companies look at the big picture, which I call the 4 S's:

1. Strategy. Strategy is the lifeblood of a strong business. With Web 2.0, the marketing opportunities seem endless. A solid strategy will allow you to focus on what's most important to fulfilling your mission, vision, and values. By focusing on your marketing strategy, you can choose tools and tactics that go beyond the trends and bring real value for your business.
2. Segmentation. In traditional marketing, many small companies focused on two to three market segments. With Web 1.0, personalization became important when reaching out to those segments. Web 2.0 is more robust, which means a bit more work for small business owners. Now, we have at lest dozens of market segments to track, requiring detailed audience profiles. On the upside, the work pays off when your audience feels connected to your online presence.
3. Substance. Your web site can no longer be a repeat of printed brochure. Now that you have dozens of audiences to reach, there should be segments of content on your site that speaks to all of them. Break the micro-segments into major audience categories, then craft your site content to focus on real solutions, reflect how those customers buy, and reflect your voice and principles.
4. Social Outreach. Online marketing is no longer a one-way dialogue where the company controls the message. Marketing is now a conversation controlled by the customer. Being transparent and "wearing your heart on your sleeve" helps you connect with your customers. As a result, the former "trend" of social responsibility is an expected norm. Companies are expected to be active in their local and/or global communities. Sustainability is expected to be a baseline standard for operating your business. Outreach and open communication is much easier thanks to Web 2.0.

Underlying the Four S's is the relationship. Marketing is all about the relationship. If you focus on the relationship, you can leverage the Web 2.0 tools that make the most sense for your customers and your business. Don't get caught up in the flash and glam of all the options of Web 2.0. Keep true to your strategy, (micro-)segment your audience, provide real substance, and commit to social outreach. When Web 3.0 rolls around (some say it's already here), you'll be ready to make a smooth transition to deeper marketing relationships.

Small Business Concerns in a Web 2.0 World

Today I participated in a panel discussion at the Partnering Works Business Conference on how Web 2.0 is changing how small businesses operate and market. The conversation was rich and included Eric Weaver (Vice President of Edelman Digital), Rachel Derlatka (Partner at Alliance Network Services), and moderator Greg Lins (President & Founder of TLG Innovation). We discussed what Web 2.0 really means, how it impacts marketing, and what the future looks like for global enterprise. I think that the discussion can be best summarized as:

• Web 2.0 changed the Internet from a one-way push of information to site visitors to an interconnected two-way push/pull of communication between companies and site visitors.
• Businesses should stop thinking about a web site and start thinking about their social web. The social web includes a web site, social networking sites, blogs, and other digital communications tools. It's not enough to have a spot on the web. The strength of your online presence depends upon the size of your personal and professional networks.
• Privacy is almost dead. Don't post anything on the web -- personal or professional -- that you wouldn't say or do sober at a cocktail party. With privacy so highly at risk, online communicators must be diligent about protecting their personal information, but be completely open with all communications. If you lie or attempt to be deceitful or restrained, it's almost certain that someone will find out. Deception and half-truths can quickly discredit you and your business.
• The boundaries between personal and professional are blurring, thanks to upcoming Millennials and Gen X'ers. Though it might not seem relevant now, including personal bits about yourself in your online presences will help people connect with you.
• It's difficult to determine the intent of someone sitting behind a computer. Revelation and transparency can help you build your networks much faster and create open communication with your online community members.
• The consumer is in complete control. Remember that anyone can build a blog or connect via their social network and spread information about your company more quickly than you can put out a press release. Top it off, marketing is the least-trusted channel of information according to Edelman's consumer trust report (contact Eric for more about this). People won't trust your press releases, but they will trust the opinions of their peers.
• Web 2.0 reinforces the importance of relationships. The web should be a communications tool, not a veil of canned statements to hide behind. The conversation you have online should match the tone and substance of the conversations you have face-to-face.
• Social networks will not replace in-person communications. It just makes person-to-person engagements more effective and more personal, particularly if you have an established online relationship.
• The speed at which new technology and tools roll out will only accelerate over the years. Keep an eye out for Web 3.0 in the near future.

I will post either a video or a podcast as soon as the digital content is ready. I will also publish a written version of my presentation, The Four S's of Marketing in a Web 2.0 World, in the next few weeks.

Filling the Funnel: Writing Proposals that Tell AND Sell

Part Five of Seven on the Complex Sales Process by Tracy A. Corley We've been taking a look at how to build awareness, turn suspects into prospects, qualify leads, and assess needs. If you're making a good impression on your prospect, at some point the client is going to say, "Great! What can you do for me, and what will it cost?" That's the time to start writing the proposal. Some of you already have formulas for writing a proposal. It may consist of elements as simple as providing line items with quantities and costs. If you have a complex sale (i.e. a sale that requires building a relationship and typically takes more than three months to close), writing a good proposal can be time consuming. How can you quickly develop a proposal that stands out and the sale closes faster?