business for me. I have found my tribe, and they have found me. (This book is the result of them imploring me to write it.)
I havenât had a marketing packet for my speaking business for three years. Iâve never solicited a consulting job in my life. And I never make cold calls or seek business. My tribe creates business for me. They practically demand their meeting planner book me as a speaker at their conferences or insist that the CEO bring me in to work with the company. And this is the beauty of authentically engaging in social media: Instead of chasing after business, getting active on these platforms will get business chasing after you .
This all means that controlling your brand and reputation is harder if youâre not actively monitoring and participating in social mediaâbut itâs actually easier if you are. And ultimately this new environment is better for everyone. Now, the only way to really control your brand is the right way: by providing great products or services, engaging with customers, and resolving complaints in a timely manner.
The Real Sweet Spot
Thereâs one place where the winners will separate from the losers: scalability . If youâre a financial planner, speaker, or hair stylist, running your social media and online relationships is a simple enough equation. Itâs not easy , but it is simple. But if youâre a hotel chain, automaker, or movie studio, itâs neither easy nor simple. Thatâs because bigger companies like these require the executive level to really get behind social media, both online and mobile. Not with lip service and mission statements, but by actually instilling it deeply into the culture of the business and getting every employee involved.
It will mean sorting out the nebulous lines between personal posting versus company positions, branding accounts with people versus company departments and other issues. This will take some discernment, and it will be different for every company and entrepreneur. (Note that if youâre an attorney or financial plannerâor a law, accounting, or financial planning firmâthere are serious legal issues that you need to consider regarding social media posts.)
Nobody wants to follow a Twitter account or Facebook page from the ExxonMobil marketing department, but they may like one from Mary in marketing. Itâs probably good and adds personality if Mary expresses her undying love for the Red Sox, but not so good if she updates her views on gay adoption.
There are no fixed rules for this now. Weâll all be sorting them out for the next few years. Many old companies will disappear, because this new approach to branding and marketing will expose their mediocrity. Theyâll be replaced by authentic companies that embrace social media and have nothing to fear from transparency. This will give a much greater degree of power to the consumer and actually result in better companies and business practices.
Retail Is Dead
Okay, itâs not dead yet, but retail is becoming less relevant every week. And thatâs not surprising, since the business model for retail hasnât really changed at all in at least a couple hundred years.
Goods used to be manufactured in England and transported by ship to the New World. They arrived at ports like Boston and New York, and then traveled by stagecoach across the country for delivery to general stores, where the consumer came in and purchased them. Ships turned into planes, stagecoaches turned into trains and 18-wheelers, and general stores turned into department stores and shopping malls, but the business model stayed the same. In fact, we could really argue it got more cumbersome, as layers of rack jobbers, wholesalers, and warehousing got involved in the process.
The endless parade of retailers filing for bankruptcy shouldnât surprise anyone. What other industry is still trying to use the same business model in 2012 as they were using in
I havenât had a marketing packet for my speaking business for three years. Iâve never solicited a consulting job in my life. And I never make cold calls or seek business. My tribe creates business for me. They practically demand their meeting planner book me as a speaker at their conferences or insist that the CEO bring me in to work with the company. And this is the beauty of authentically engaging in social media: Instead of chasing after business, getting active on these platforms will get business chasing after you .
This all means that controlling your brand and reputation is harder if youâre not actively monitoring and participating in social mediaâbut itâs actually easier if you are. And ultimately this new environment is better for everyone. Now, the only way to really control your brand is the right way: by providing great products or services, engaging with customers, and resolving complaints in a timely manner.
The Real Sweet Spot
Thereâs one place where the winners will separate from the losers: scalability . If youâre a financial planner, speaker, or hair stylist, running your social media and online relationships is a simple enough equation. Itâs not easy , but it is simple. But if youâre a hotel chain, automaker, or movie studio, itâs neither easy nor simple. Thatâs because bigger companies like these require the executive level to really get behind social media, both online and mobile. Not with lip service and mission statements, but by actually instilling it deeply into the culture of the business and getting every employee involved.
It will mean sorting out the nebulous lines between personal posting versus company positions, branding accounts with people versus company departments and other issues. This will take some discernment, and it will be different for every company and entrepreneur. (Note that if youâre an attorney or financial plannerâor a law, accounting, or financial planning firmâthere are serious legal issues that you need to consider regarding social media posts.)
Nobody wants to follow a Twitter account or Facebook page from the ExxonMobil marketing department, but they may like one from Mary in marketing. Itâs probably good and adds personality if Mary expresses her undying love for the Red Sox, but not so good if she updates her views on gay adoption.
There are no fixed rules for this now. Weâll all be sorting them out for the next few years. Many old companies will disappear, because this new approach to branding and marketing will expose their mediocrity. Theyâll be replaced by authentic companies that embrace social media and have nothing to fear from transparency. This will give a much greater degree of power to the consumer and actually result in better companies and business practices.
Retail Is Dead
Okay, itâs not dead yet, but retail is becoming less relevant every week. And thatâs not surprising, since the business model for retail hasnât really changed at all in at least a couple hundred years.
Goods used to be manufactured in England and transported by ship to the New World. They arrived at ports like Boston and New York, and then traveled by stagecoach across the country for delivery to general stores, where the consumer came in and purchased them. Ships turned into planes, stagecoaches turned into trains and 18-wheelers, and general stores turned into department stores and shopping malls, but the business model stayed the same. In fact, we could really argue it got more cumbersome, as layers of rack jobbers, wholesalers, and warehousing got involved in the process.
The endless parade of retailers filing for bankruptcy shouldnât surprise anyone. What other industry is still trying to use the same business model in 2012 as they were using in
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