Archive for the ‘Mondays with Mike’ Category


Mondays with Mike: What The ALS Ice Bucket Challenge Can Teach You About Marketing

Your mother, your brother, your best friend, and a loooong list of celebrities, and me too: everyone jumped on the ALS Ice Bucket Challenge, posting videos of themselves, donating money, and challenging their friends and family to do the same.  Those who participated got their fifteen minutes of fame, and those who wimped out were ridiculed as being no fun.

Aside from the fact that the Challenge raised millions of dollars and promoted awareness about ALS, a terrible, degenerative disease, the Ice Bucket Challenge is a remarkable example of the tremendous power of social media, and it illustrates what can happen when you invite your customers to share pics, videos, and messages that promote your brand.  There are several important principles that the Ice Bucket Challenge teaches us about developing a winning social media marketing strategy. 

  1. Be the EST.  While Challenge videos that simply featured calls out to a couple of friends followed by a typical soaking didn’t circulate terribly far, videos of particularly creative approaches were shared thousands and thousands of times.  FunniEST, coldEST, wettEST … extreme examples got the most views.  Whether it was Ben Affleck calling out his celebrity pals and then pushing his wife into their swimming pool, or whether it was a group of middle aged moms rapping their challenge, standing out from the crowd is what gets the most mileage.  Invite the participants in your social media campaign to interact in creative ways.  Ask them to give you their EST.
  2. Find something ubiquitous.  Everyone could participate in the Ice Bucket Challenge, because all that’s required is water, ice, and some sort of container.  If the components had been caviar, platinum, and moon rocks, then that would have left most of us out.  Invite your fans to tweet, photograph, and share pics of themselves in your place of business, or wearing your logo.  Make it simple, repeatable, and leave room for creativity.
  3. Recognize the emotional power of social media.  There was some criticism of the Ice Bucket Challenge from folks who thought it trivialized the disease.  Some of the most powerful videos posted and shared were those made by people who suffer from ALS and from their friends and families.  Authenticity shines through in a video, and creating a powerful emotional connection with your brand through your customers’ true stories promotes your brand in a positive way.
  4. Be pictorial or easy to replicate.  Maybe you invite your fans to take your logo on vacation with them and share pics of your logo in exotic places.  Or perhaps you give away bumper stickers and ask customers to take pics of their cars in unusual spots.  The key is to make it easy to incorporate your logo into a photo that can be shared and reshared until the image covers the globe. 

Creative images make millions of impressions via social media.  You invite the participation of your customers, and while you will need to monitor and perhaps to edit content to ensure that it’s appropriate, the beauty of a social media campaign is that you can sit back and let your fans do your marketing for you. 

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Mondays with Mike: The 4 Crazy Ways To Advertise With Mobile Technology

Consumers are absolutely besieged by images, messages, and impressions.  Every time we turn on our phones, computers, televisions, e-readers, or radios, we’re inundated by advertising and information.  Given the overload that we experience, it’s often the most outrageous messages that hit their mark. 

If you’re looking to boost the number of impressions you make, one of the very best ways to do it is via social media. Twitter, Facebook, Reddit, and Instagram touch more users more times per day than we can really wrap our heads around.  That’s a lot of potential impressions, but you have to do something novel to really capture the attention of potential customers.  If you’re determined to make a splash, here are some ideas to get your started. 

  1. Invite users to submit videos or pics with your product or logo.  Think people won’t take the time to make and upload a video?  Think again!  Look at the thousands and thousands of ALS Ice Bucket Challenge videos filling up your newsfeed on Facebook.  The videos of folks dumping ice water over their heads – sometimes in very creative ways – demonstrate the power of the novelty video.  Someone makes a video, shares it, and it spreads, increasing exponentially to reach more users every day.  The best way to adapt this photo/video idea for business is to run a contest:  Invite customers to post pics of themselves wearing a hat or t-shirt with your logo while they’re on vacation or in an unusual spot.  The photo that gets the most likes or shares wins a prize.  Think about the potential here – you’re going to be making thousands of impressions and building fans for life.  Powerful stuff.
  2. Pop-up advertising.  We become completely immune to things we see or hear day after day.  When the same old ad comes on my Pandora radio, I completely tune it out.  It’s like I don’t even hear it.  Novelty is king, and that’s why pop-up advertising is so effective.  Whether you turn your pizza shop delivery vehicle into a giant slice of pizza or whether you hire a clown who walks on five foot tall stilts to entertain folks in the parking lot on a busy Saturday, the real secret to pop-up advertising is that random people will take pics and share them with their friends.  Your little attention-getting stunt will continue to make its way around social media long after your part is finished.
  3. 2014-08-25_1635Flash mobs.  More labor intensive than some other techniques, the surprise and wonder factor here is huge.  You coordinate a number of people to perform in public, making sure you get good quality video of the event, and you post the video online.  Again, like the other social media techniques, the power isn’t in the initial views.  While the folks who happen to be on the street or mall when you perform will certainly be surprised and enjoy the event, the real numbers come when the video is shared over and over, resulting in tens, or even hundreds of thousands of impressions.
  4. Work lightning fast.  Twitter is particularly useful for brief messages that are timely and relevant to rapidly developing current events.  One of my favorite examples was the Oreo hashtag during the Superbowl when the lights in the stadium abruptly went out.  “You can still dunk in the dark” was the tagline of the ad that appeared on Twitter just seconds into the blackout.  The ad was retweeted countless times, and Oreo was declared the winner of the Marketing Superbowl.  You need a smart, witty social media guru on your payroll in order to take advantage of current events opportunities, but it can be worth every penny you pay.  Seize the moment!

Key to all of these social media strategies is the fact that by getting consumers involved with spreading the word about your brand, you’re transforming them into your biggest fans.  Social media works because everyone wants their fifteen minutes of fame, and there’s no reason while they can’t have that fifteen minutes while wearing your logo and creating millions of brand impressions. 


Mondays with Mike: The 8 Female Values Every Male Leader Needs

Stocksy_txpc96af066We9000_Small_285956I’ve been fortunate enough to work with some spectacularly smart and strong women throughout my career, and I’m frequently reminded of the values that these women have displayed – things I’m working hard to implement in my own business.  Whether you believe that gender differences are the result of nature or of nurture, don’t miss out on the lessons you can learn from successful women.

  1. Self-worth derives from community service.  Some men tend to be trophy hunters – racking up accomplishments and money in an attempt to demonstrate their value to the world.  Women tend to see their relationship to their community – and the vital ways in which they are connected to their community – as the hallmark of success.  Keeping in mind that we are part of our community and that it is our interconnectedness that makes and keeps us relevant and necessary can help us focus on strengthening ties rather than creating distance.
  2. Presentation matters.  Women have been judged by their appearances to a much greater degree than men have, and it’s worth remembering that we only get one chance to make a first impression.  Make sure that you present yourself as organized, neat, and capable … every time.  And hey – stylish doesn’t hurt either!
  3. Balance work and home.  While no one gets it perfect every day, women tend to make the effort to flourish in their careers, while still making time to spend time with their families.  It’s important to maintain the vital support of our home lives – the support that will actually help us succeed in business.  Don’t devote all of your time to your career at the expense of your partner and your family.
  4. Tolerate pain.  Running a successful business is hard work – much like the labor that precedes a delivery.  Women are masters as gritting their teeth, settling in for the long haul, and getting the job done.  Growing a business is a struggle, and it’s never painless.  Entrepreneurs can’t afford to be wimps!
  5. Multitask.  Women tend to be much more adept than men at juggling multiple tasks efficiently.  While there is something to be said for a single-minded focus, sometimes concentrating on just one task is a luxury we don’t have.  When you’re faced with many things all competing for your attention, observe some women working on multiple tasks and see if you can improve your multitasking abilities.
  6. Ask for help.  We joke about the man who will drive around forever and never stop to ask for directions, but the joke hits close to home for some men.  Realizing that you’re not an expert in everything and that asking for help is actually a sign of strength lets you avail yourself of the expertise that’s all around you.  You don’t have to be the best at every task that keeps your business running, and asking employees or mentors for advice or assistance shows your confidence in them.
  7. Use social skills.  Women are master networkers.  They use their ties to the community as a powerful asset, and nurturing those connections will put you in contact with more clients and more collaborators.
  8. Collaborate.  As fields become increasingly specialized, we’re going to find more tasks that require us to collaborate with other experts.  If you’re focused on producing the very best products and services, that goal will nearly always be more easily achieved by collaboration.  Look around you for folks who can make you better.

In listing these values that I’ve seen in so many successful women, I’m not guy-bashing.  I work hard to keep an open mind about techniques for improving my abilities to run my businesses, and I’ve learned that success had no gender.  It’s available to us all.


Mondays with Mike: 5 Tips For Finding Prospects On Twitter

Twitter

I’ll admit it.  I thought Twitter was a silly little fad when I first learned about it.  Seriously – how much effect can 140 characters have?  It turns out that it’s a massively powerful medium, and I wish I’d started using it earlier.  It can be a goldmine in terms of establishing relationships with existing and prospective customers.  Here’s how you do it:

  1. Search for your company name.  This sounds like a no-brainer, but it’s so essential!  This first key step lets you know who’s talking about you … and what they’re saying.  You’ll know right away if there’s a problem you hadn’t heard about, and you’ll get a read on the public’s impression of your company.  The folks who are already tweeting about you are the first ones you should make contact with.  In addition to alerting you to problems folks may be having, Twitter gives you a real-time means of responding to criticism in professional and productive ways, establishing your business as a stand-up organization that cares about its clients.
  2. Search for your competitors.  Not only is it just good business practice to know what the other guy is up to, but monitoring the chatter about your competition can also give you priceless inside information into problems or challenges your competitor is facing.  If you learn that customers are upset that the pizza shop down the road discontinued a particular entrée, you may want to advertise that you’re adding a new menu item (which, coincidentally, is what consumers are begging for!)  Unscripted, candid feedback on the other guy’s business may give you ideas about new products or tip you off about mistakes you should avoid making. 
  3. Search for relevant keywords.  Information is power, and knowing what terms people are using to search for services and products like yours is so important.  You can use the information to load your messages up with the right keywords, and you’ll discover links to articles and discussions in your industry that you might never have seen.  Everything you uncover can help you tweak your message and be more sure of reaching the right people.
  4. Use an autoresponder.  Twitter works because it’s instantaneously interactive, and if your Twitter followers don’t get that play from you, they’ll lose interest.  You should thank new followers (automatically,) and using an autoresponder even lets you create and send messages even if you’re taking the day off to go fishing with your kids. 
  5. Produce relevant content.  If your tweets are boring, repetitive, or irrelevant, then you’re going to lose followers as soon as you get them.  Armed with the competitor’s information and the relevant keywords, you’re prepped to start creating useful articles that your followers will actually read and use.  Even though each tweet has a maximum of 140 characters, you can send the link to your content.  Giving your customers useful tips and suggestions that relate to your industry can win you loyal customers for life.

Twitter is so much more than selfies.  It’s a more powerful medium than I ever though it could be, and harnessing that power gives you far-reaching access to millions of potential customers.    


Mondays with Mike: How To Prep Your Business For Sale In 90 Days (Or Less!)

I know a thing or two about selling businesses.  I’ve done it both hard way, and the easy way, and it’s not hard to figure out which way I prefer.  Even if you plan on turning your company into a legacy that your children will run after you’re gone, the best time to get your business ready to sell is today!  Before you ever want or need to sell your business – that’s when you should start.  Here’s what you need to do:

  1. Identify strategic buyers.  Strategic buyers are those who want your business for some reason other than just your company’s revenue.  They may want your customers, your intellectual property, or even your employees.  If you can identify these buyers, you can learn which of your assets are most desirable – and you can protect them.
  2. Resolve any legal troubles.  Buyers won’t want to touch a business that has lawsuits or liens against it, so you need to clear up any old business and get your company in the clear. 
  3. ??????????????????????????????????????????????????????????Focus on profitability, rather than debt.  Businesses are often valued by a multiple of their profit, so you’re better off directing extra revenue toward measures that make you more profitable.  Paying down debt with your extra money doesn’t add nearly as much to your value.
  4. Protect your key employees’ positions.  We all have those staff members who are critical to our survival, and it’s smart to make a plan for what you’d do if one of them left.  Whether your discreetly cross-train employees or keep a list of potential new hires, you want to make sure that if one of your key employees leaves, that your business goes on as usual.
  5. Get out of the office.  Not only is your business more valuable if it can run in your absence, but you also need to be out in the marketplace as the face of your company.  You need to continue running your business as if you’re going to hand it down to your children, and that means cementing relationships with important clients and maintaining your market share.  Don’t slack off!
  6. Cut costs.  You’ll boost your selling price if your company is lean, efficient, and profitable.  Make sure you trim unnecessary expenses and eliminate anything that doesn’t directly contribute to the health of your company.
  7. Work with a business broker or investment banker.  You’ll want to make sure your business is ready to sell when you tackle this step, but you’ll often find that brokers have a stable of businesses looking to acquire others.  Not only can you sell your company more quickly, but a broker can also help you get top dollar for it.
  8. Be hard to get.  If you appear to be desperate to sell, your value diminishes.  Cultivate a field of buyers and watch your price go up.  You want buyers to have competition in order to ensure that you get every penny you’re worth.
  9. Keep it quiet.  The news that you’re looking to sell your company can potentially frighten off employees and even deter new clients from signing on with you.  You want your business to continue to grow and flourish … just in case a sale falls through.

The time you spend preparing your business will give you one additional benefit other than just getting you ready to sell, and it’s actually a huge one.  Your business will be healthier.  Much of the advice I’ve listed here is stuff you should be doing anyway – measures that make your business more efficient and profitable, in addition to making it more attractive to buyers.  


Mondays with Mike: How To Vaccinate Your Job Applicants

I’ll start this article with a nod to Dan and Chip Heath, whose book, Decisive, has had an enormous impact on the way I handle making important decisions.  I’ve learned over the years that while sometimes all you can do is trust your gut instinct, there’s a lot to be said for making decisions as deliberately as possible.  The vaccination technique in the hiring process plays the very important role of eliminating a number of the poor options, leaving you with the applicants who are best suited for your position.

Here’s how the vaccination technique works:  Let’s say that you’re hiring for a customer service position.  Before you write your job ad, think back to the problems you’ve had with previous employees in that position and make a list of the parts of the job that presented the biggest challenges.  Now, include those parts of the job description in the ad.  If it feels like you’re warning people off the job, then you’re doing it right!  Your goal should be to accurately describe the job, warts and all.

Why would you want to focus on the difficult aspects?

Stocksy_txpbfc73dd2sR8000_Small_175628You’re inoculating your applicants.  You’re giving the candidates who don’t want to deal with irate customers’ complaints a reason not to apply.  You’re telling the folks who don’t ever want to work weekends that they’re not going to be happy in the position.  You’re essentially screening out unsuitable folks so you don’t have to waste time interviewing, hiring, training, and ultimately firing them. 

My favorite way to write an ad is as a challenge to just the right candidate.  Emphasize that it’s a very special person you’re looking for, with just the right unique skill set.  People who read your ad and say “That’s me!” are the ones you’re looking for.  They’re dedicated and prepared to face the challenges of being your customer service rep.

In addition to screening out candidates who aren’t a good fit for your job, vaccination also ensures that your applicants know what they’re getting onto.  They won’t legitimately be able to complain that they didn’t know they’d have to work evenings and holidays if you included those details in the ad.  Think about the alternative – you gush about what a great company you’ve built, how wonderful the staff is, and how rewarding the work is – some employees may feel like they’ve been misled when they encounter their first real challenge.  Oversell the difficulties and let them discover for themselves how wonderful your company is.

When you’ve weeded out the unsuitable candidates, what you’re left with is a short list of much better options, and that means that you’ll be able to make a better decision since you’ve taken the time to deliberately sift out the cream of the crop before you even schedule the first interview.  Good decision making is a habit, and eliminating unwise choices is one of the surest ways to improve your long term outcomes and bring on staff who’s in it for the long haul.  


Mondays with Mike: 7 Tips For Making Your Employees Marketing Superstars

?????????????????????????????????????????????????????????????????????????????????????????Wouldn’t it be wonderful if you had a team of enthusiastic marketing superstars who promoted your brand everywhere they went?  Here’s a secret:  You can make it happen!  Consider the fact that every one of your employees interacts with dozens and dozens of people everyday, and you’re missing your opportunity if you don’t enlist them in your mission to promote your brand.  Here are some sure-fire strategies for making your employees part of your marketing strategy:

  1. Speak their language.  Every single member of your staff is motivated in a slightly different way.  Take the time to figure out what’s important to your employees, and you’ll be able to tell your story in a way that matters to them.  If you can sell your staff on your vision, they’ll sell it to your customers.
  2. Create the right climate.  Make sure that your staff understands that you’re not just in business for the bottom line.  Show the ways in which you enrich your community, whether it’s by providing necessary services or through your investment in community programs.  If your staff feels good about the work they’re doing, they’ll share their enthusiasm.
  3. Provide awesome wearables.  The key to this tip is making the wardrobe genuinely cool – something that your staff will actually choose to wear.  Your tagline or logo on a t-shirt becomes a walking billboard.  If you make sure your staff actually likes their company togs, then you’ll be sure that they won’t end up in the trunk of the car, where – let’s face it – they’re not doing you any good.
  4. Use social media.  Whether your run a caption contest or share pics of your staff wearing your logo in interesting locales, make sure you leverage the powerful tool provided by the various social media apps.  Folks love that fifteen minutes of fame – so why not use it?  Turning your brand into one that people have fun sharing increases your visibility and strengthens brand loyalty.
  5. Provide Halloween costumes.  Create a character that suits your company climate and offer your staff the chance to celebrate without having to stress over what to wear.  Whether you create a superhero – think something like Uber Geek if you’re an IT company or Grammar Nazi if you’re a PR firm – you’re injecting a little fun into your corporate image.
  6. Use every opportunity to advertise, no matter how small.  One of my favorite, often overlooked examples of an underused means of getting your company’s name out there is to make sure that your company wi-fi and your employees’ mobile hotspots are all branded with your company’s name.  The next time your sales rep is working and sipping a latte at Starbucks, everyone who logs on to the free wi-fi will see your company’s name.  Never miss a chance to make in impression.
  7. Don’t forget the hardware.  Don’t send your staff out with laptops that advertise for Apple; slap your awesome logo on everything that sits still long enough.  Your staff can make countless impressions just by toting gear that advertises for you.

Be open, and be creative!  Brands are built one impression at a time, and you have more opportunities than you realize.


Mondays with Mike: 8 Ways You Can Accomplish More By Going Old School

I love gadgets as much as the next guy, but I had an experience recently that made me realize that sometimes, putting all your technological eggs in one basket isn’t a good idea.  My phone died while I was traveling (long story) and I was left without my clock, directions to the hotel, or even the name of the hotel that my assistant had reserved for me.  I was paralyzed until I could get some juice for my phone, and I realized that sometimes, old school is best.  Here’s a list of devices that you should always have in reserve.

  1. Calculator.  Yes, I know your phone has one, but have you ever needed the calculator while you’re on the phone?  Happens to me all the time.  A pocket-sized solar calculator with a battery backup can be a lifesaver.
  2. Typewriter.  Don’t roll your eyes.  I’m serious.  If you’ve ever needed to fill in a form that you can’t edit online, then the typewriter is a godsend.   Print the form, type your entries, and you’re all set.  I don’t use mine often, but when I need it, it’s the perfect solution.
  3. GPS device.  Sure, most phones have this function, but again – when you’re on a call and you simultaneously need directions, you’ll be glad you have the separate unit.  The bonus is that prices have come way down, and you can get a great GPS for very little.
  4. Alarm clock.  This item’s about redundancy as well, but if your phone battery dies or the power goes out, you’ll still be on time for that important meeting if you’ve packed a battery or wind-up alarm clock.  No need to make excuses for oversleeping.
  5. Compass.  Yes, really.  It never fails that the very moment that I need my GPS the most – like in the middle of Manhattan – the buildings keep my GPS from working properly.  If I know I need to head uptown, my pocket compass saves the day.
  6. Watch.  I may be old fashioned, but people who constantly check their phones drive me crazy.  If you just need to check the time, you’ll look much more engaged if you glance at your watch, rather than checking your phone and incidentally seeing the twenty new emails that need your attention.
  7. Pen and paper.  Inevitably, every time I try to use my phone’s notes function, I get distracted by a text message or a calendar alert and frequently forget what I needed to jot down.  Pen and paper in my pocket solves the problem.
  8. Polaroid camera.  I tell people that I keep a Polaroid camera just for fun, but it’s actually a fantastic leave behind.  Physical pictures are becoming so rare that they’re a brilliant way to remind a client or a friend of a momentous occasion.

I increasingly hear folks making excuses for why they haven’t managed to get something done, usually blaming their shortcomings on technology.  It’s far better to be the one person who always delivers, every time, rather than being the person whining about a dead battery and a failure to plan ahead.  Don’t be caught unprepared.  

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Mondays with Mike: 7 Crazy Ideas To Turn Your Customers Into Raving Fans

The far reach of social media has fundamentally altered the way in which we interact with one another.  Things happen lightning fast, and it’s commonplace to get moment-to-moment updates on what your friends are doing.  While you may believe that it is – in fact – possible to OD on never-ending selfies, the prevalence of digital photos and tweets that reach millions of followers is a huge opportunity for savvy entrepreneurs who are able to enlist their customers in building their brands.  Here’s how to convert your customers to your biggest fans:

  1. Have your clients do some of the work.  If you can find a way to let customers make doing business with you a unique and personalized experience, they’re far more likely to tell their friends about you.  The best recent example of this principle are the number of business popping up that provide detailed art instruction for a group of people to gather at a bar or restaurant and paint their own picture.  You see Facebook posts of smiling faces and proud amateur artists.  They’re selling the experience to their friends.
  2. Play hard to get.  The American Express Black Card is the best example bar none.  It’s obscenely expensive, but people fall all over themselves, coveting an invitation to open one, and only a few customers ever receive that invitation.  Creating a sense of exclusivity makes your product that much more desirable.
  3. Deny your own existence.  One of the reasons there was so much buzz about the Amex Black Card when it was created was because Amex refused to confirm the card’s existence.  They relied on the excitement of gossip and speculation to generate interest.
  4. ????????????????Encourage tattoos.  I know this tactic may sound extreme, but when folks start permanently applying your logo to their bodies, you’ve officially arrived.  Associating your brand with a lifestyle and developing a great logo is a good start.  Think no one would ever ink a logo?  Look around you at the beer labels, band logos, and Harley Davidson tattoos that are out there.  It’s possible.
  5. Go underground.  Throw exclusive parties for your very best customers – parties that they must be invited to attend.  Offering special perks for invitation only rewards clubs makes customers crave that favored status.
  6. Put your customers through boot camp.  The idea here is to have a series of steps that customers have to go through in order to achieve a special status.  Give them special status and reward them with exclusive offers that are available only to the elite customers who’ve been dedicated enough to reach your upper echelon.  Give customers a shirt or a car magnet that boasts about their status, and you’re generating interest everywhere your customer goes. 
  7. Create an annual event.  Start a tradition that anchors your company as a valuable member of your community.  Whether you sponsor a fall festival or a public Easter Egg hunt, giving your community something to look forward to creates lasting, positive associations for your company.

So the real secret of all of these techniques is what happens afterwards.  By creating loyal, dedicated fans of your brand, you’re inevitably creating brand ambassadors who will Tweet, Instagram, and Facebook about your company, spreading the word with every like, share, or comment.  That’s why these raving fans are so valuable – they become your cheerleaders and enthusiastically help build your brand.  




 
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