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Wednesday, December 15, 2010

LinkedIn News - December

The LinkedIn platform is a fast moving space.  Here in the UK, 1 million new members have joined since June and worldwide a person joins every second.

As a consequence, keeping up to date with contacts, companies, recommendations and group discussions is important.  A new, free application - Projects and Teamspaces by Manymoon was launched yesterday.  It allows you to keep control of all your LinkedIn activity with a simple, intuitive structure.  It is perfect for LinkedIn campaigns where your members of staff are in different locations as more than one member has access to the same project information and tasks can be assigned and monitored.

See how the app works on Youtube.

Thursday, November 25, 2010

LinkedIn and the Top 100 UK Accountants

As a great fan of LinkedIn and statistics, I thought I would do a rough and ready analysis of the usage of LinkedIn by employees of the top accountancy firms in the UK.  I concentrated on the top 96 as listed in an article published by Accountancy Age as the figures for the Big 4 were extraordinary with numbers reaching 70,000 members on LinkedIn for Deloittes.

For the remaining 96 I looked at the percentage of employees of each firm who are on LinkedIn.  In broad terms the results are as follows:
    • For firms with 5,001-10,000 employees    25% were members of LinkedIn
    • For firms with 1,001-5,000                       23%
    • For firms with 501-1,000                          18%
    • For firms with 201-500                             27%
    • For firms with 51-200                               25%
    • For firms with 11-50                                 35%
The range for each group was very wide with 8 firms having NO company page on LinkedIn and a tiny proportion has added Products and Services to their company profiles.  There is an extreme variation in the quality and detail of corporate information on LinkedIn and also some members are still avoiding including photos.

In addition, as number of firms had 2 profiles and therefore it was difficult to assess if there was any double counting going on.

If branding is important in the financial services sector then each company will require a Social Media Policy and Strategy which makes it clear what is appropriate for each employee to post on a platform such as LinkedIn.

Sunday, November 21, 2010

Face the fear

As we approach December, it is a good time to review how the year has panned out.  Are you on target financially or has the continuing difficult economic situation meant that you did not attain the figures you predcted at the beginning of the year?  All economic sectors are feeling the pinch.  We have to adapt to a lower growth environment.

Analysing your figures will give insight into whch activities have been most profitable and where costs might be better controlled in the future.  Small adjustments to price, costs, adding new products and services, and revisiting old customers will  hopefully make 2011 a more profitable year.

Sunday, November 14, 2010

LinkedIn - a new era?

Are we seeing the real commercialisation of the LinkedIn platform?  With the introduction of the Careers and Products/Services tabs on Company pages, LinkedIn now provides the perfect place for companies to showcase their wares.  A step up from being coy about 'selling' - businesses can present detailed information on their products including images and links to specific websites.

Additionally, you will start to notice even more advertising on a wide range of pages.  To the right hand side of connections and at the bottom of most pages.  The companies advertising are no strangers to our screens but the flickering images are a departure from the usually calm LinkedIn screens.

Keeping up to date with social media platforms is a crucial part of our role as business advisers.  Helping businesses make the right decisions balancing risk and return is one of our specialities.  We build strategies and train our clients in the most appropriate use of LinkedIn and other social media sites as part of their overall marketing plan.

Wednesday, November 3, 2010

Corporate Control

At Alterra, we meet businesses of all sizes who are keen to embrace social media.  But very often they don't have a conherent stratgy.

When platforms such as Twitter, Facebook and LinkedIn are essentially public spaces, how does a company monitor what is written about them, posted, forwarded and regurgitated around the internet?

For business to business on-line networking the fastest growing website is LinkedIn with over 80 million users worldwide.  Nearly 1 million members are located within 10 miles of the centre of London.  There are an increasing number of 'private' groups set up by companies so that intra-corporate discussions can be held.

Yet I still see incomplete profiles with no photographs and inconsistant employee lists on the Company pages of LinkedIn.

Well you might say that it is not that important:; but consider this scenario - I meet a senior manager at a conference and type his name into Google.  If that person is active on the internet his LinkedIn profile will appear high up in the Google ranking.  If I click through I will see his Profile and a further click and I am on the Company's LinkedIn page.  So three steps to an unattractive message would worry me.

Worse still are the updates which are totally inappropriate for the platform.  How does a company control this in this free publishing space?

Our series of strategy posts will be coming out soon - watch this space!

Sunday, August 8, 2010

Pizza, Indian, Chinese.............what's your choice?

As someone who rarely buys take-aways, as by the time I drive from the nearest town they are usually cold, I sometimes glance a the leaflets dropped through my front door from the local restaurant delivery services. Pizza, Indian, Chinese, chicken and chips - take your pick.  As I live in a village, we probably receive only a fraction of leaflets drops that those of you who live in more built-up areas. 

Most folk I talk to about their marketing media seem to think that leaflet drops are a waste of time.  The question therefore is why do the take-aways continue to do it despite the fact that the majority of receipients throw them straight into the recycling bin?  The answer is refreshingly simple - it works.  It is built into their whole marketing strategy.

Raising awareness by leaflet drops or any other means is not always about the quick sale.  It is more about keeping your brand (as opposed to anyone else's) at the front of your potential clients' minds.  In fact, some of my clients find the majority of their new business from leafletting. 

You need the right leaflet, for the right service delivered to your target homes or businesses.  And, it's all about repetition.  Once designed and printed, delivery can be staggered to fit your business cycle.  Measure the impact and repeat.

Not all products and services lend themselves to this marketing route but think about yours.  It might just work and if anything you'll at least have a great leaflet to give out at meetings and for direct mail.

Call me for more information on our design and print service.

Saturday, July 31, 2010

Going local

We have recently been undertaking some local market research for a financial services business.  The need for the research arose from an analysis of new business.  The company was increasingly finding new business from existing customers and their families and contacts but very little was coming from the immediate locality.

Why is this important?  Well, one of the main reasons is that 'local' is flavour of the month, whether in buying fruit and veg or selecting a tradesperson.  Secondly, the financial services firm had a 'shop window' or rather an office frontage, door and the potential for revised signage.  Thirdly, the cost of servicing clients in the immediate locality is significantly less in terms of time and travel costs than driving an hour to several meetings before securing any fee paying business - the client is more likely to come to you resulting in 50% more new business meetings.

The main premises of the research was to test whether the 'man on the street' was a) aware of the existence of the business, b) if they were, where is the company's location in the town and finally c) did the interviewee have any knowledge of the services they offer? 

Without going into all the methodology and statistics, the main observation was that about 50% of the people surveyed (who lived in the town) had heard of the firm, and of those only 20% knew where to find the offices.  Some even directed the researcher to other financial services firms!  As for the services offered by the client, the results demonstrated that those surveyed had barely any knowledge of what was on offer.

The implications for this client were relatively straight forward.  They were missing out on a niche market that is simple to access.  A nifty piece of local marketing, well presented and focussed on the clients' needs will turn the balance of new business around.  Watch this space for how it pans out.

This case study demonstrates that businesses become stuck in the same activities because no-one asked the obvious questions.  The knowledge gained from a piece of market research allowed the financial services company to allocate their limited marketing budget effectively.  Maybe you should ask your locals some similar questions?

Saturday, May 22, 2010

Lime Green and Blue - a great colour combination

Another infrequent Saturday Morning Musing and glorious weather has returned to the UK.  It encourages us outside to do something different after a long cold winter.  Running the risk of repeating a well-known phrase, 'if you do want you've always done then you'll get what you've always got', I thought I'd focus this week on Change.

Change is fun, exciting and sometime scary.  To fully benefit from change takes careful planning.  Whether it's something simple, like starting a new email campaign or something more involved such as introducing a new product or service, understanding how resources have to be allocated is key to success.  Change for change's sake is futile - if you've reached that point then I suggest you seek help.

So what changes have I made this week.  A couple of quite trivial things - adding new emails addresses to personalise our communications and adding another Workshop to the calendar.  On a more fundamental note, consideration of offering a new service - Intelligent Admin - an interim, outsourced adminstrative service offering clients more time to do what they do best leaving us to handle the repetitive tasks.  It will take some refining.  Consequently, watch this space.

So why the title of this Post?  Well, the contrasting colours of the fresh green leaves and the sky makes me think of the contrasting (and complementary) skills Sheila and I bring to Alterra.  Her attention to detail and my creativity, her calm and my frenetic behaviour, her well-rooted, traditional approach versus my more risky attitude make for a great combination.  There's a place for everyone in the Lime Green and Blue world.

Saturday, April 17, 2010

Saturday Morning Musings - LinkedIn

There are now 65 million users of LinkedIn.  In the last week, I have added about 20 contacts - an increase of about 20%.  As a result, my 2nd degree contacts (namely, contacts of contacts) has increased by 50%.  Well that all sounds wonderful as I can now easily reach over 16,000 people but this social media platform will only add value if all these connections really start to use it.

Lots of newcomers to the platform are somewhat bewildered by its value.  One clear advantage is the listing of Jobs.  For a specialist in a particular field or location, the search facility gets the job hunter directly to companies seeking their skills and it may open up new avenues along the way.

Groups and their discussions are a great way to find out information on your own specialism or one you or your clients may be interested in.  Searching for work colleagues and classmates just because you can puts you back in touch.

For me the ability to post Presentations, Events and link my Blog and Twitter, makes LinkedIn an efficient way of disemminating information to my business contacts with minimal effort.  10 minutes am and pm - that's all it takes.

But on this beautiful Saturday in mid April, I'm more drawn to the great outdoors!  Have a lovely weekend.

Monday, April 12, 2010

Marketing Strategy Workshop

Join us for an interactive morning creating your Marketing Strategy

• Understanding your customers
• Develop a Niche
• Growing your marketing message
• Marketing medium including Social Media
• Integrating marketing into all you do
• Marketing metrics – more than just the numbers

Who should attend?
This Workshop is for owners and managers of small businesses, either starting out with a new idea, testing a new product or refining the marketing of existing products and services.

It is the essential guide to formulating a creative plan which will increase your profitability. Whatever your marketing problem, solutions will be identified and a budget set to yield measurable results.

When
Wednesday, 19 May 2010 from 9.30 – 1.00

Where The Old Pump House
1a Stonecross
St Albans
Herts AL1 4EE

Cost £37.50 payable in advance on registration

To book your place today contact:

Amanda Brown
Alterra Business Consulting
info@alterra-consulting.co.uk
01707 373138 or 07947 502760

PLACES ARE LIMITED TO A MAXIMUM OF 12

Sunday, March 28, 2010

Ignore Marketing at your peril

People buy from people they like, people they trust and who are credible

Most small business entrepreneurs and business owners are ‘doers’ rather than ‘planners’. This short talk ensures that you do not end up doing the right marketing the wrong way or the wrong marketing activities the right way.

You do not have to fell a tree to create an effective marketing plan. In fact, one day may be enough.

Step 1 – Understand your Market and your Competition

Offer what your customer wants and not necessarily what they need. Have you ever been shopping with the intention of buying a pair of jeans and coming home with shoes, a blouse and yet another pair of earrings?

Ask yourself the following questions:
• Are there segments of my market which are being underserved?
• Are these segments big enough to make money?
• What share do I need to just break even?
• Is there too much competition?
• Can I capitalise on the weaknesses in my competition’s offerings?
• Does my market value my unique competitive offering?

Step 2 – Understand your Customer
Among other things you need to know what motivates your customers to buy.
• Is it looking good, being healthy, getting rich, relieving pain, helping people enjoy their leisure time?
• How does my customer normally buy similar products – in a shop, over the Internet, from a catalogue?
• Who are the primary buyer and the primary buying influencer?
• What habits to they have?

Step 3 - Pick a Niche
It’s much easier to jump up and down in a small puddle rather than a big ocean.
Carve out a niche and then develop a 2nd but not before you’ve captured the first.

Step 4 – Develop your Marketing Message
1) Your short and sweet 30 second statement of what you do
2) Longer message
a) Proof that the prospects’ problem is so important it should be solved now, without delay
b) Why you are the best business to solve their problem
c) Benefits they will receive
d) Examples and testimonials from existing customers
e) Explanation of prices and payments terms
f) Your unconditional guarantee

Step 5 – The Marketing Medium

Printed (portable and flexible)
Business cards
Brochures, flyers, catalogues and postcards
Newsletters
Articles
Signs and posters
Gift certificates
Direct mail sales letters
Competitions

Advertising
Newspaper, magazines
Printed directories such as Yellow Pages
Press releases
Advertorial
Hoardings
Window displays

Verbal/visual
Telemarketing
Networking
Seminars, talks and presentations
Agents
Special events
Charity events
Trade shows
Radio and TV appearances

Internet
Website
Email
Directories
Social media
Blog
Ezine and ebook

Personal
Word of mouth
Referral

Step 6 – Set Goals
Make some estimates of what you want. Make sure they are SMART – specific, measurable, achievable, realistic, timely. Put processes in place to measure how you are doing.

Step 7 – Develop your Budget
If you have been trading for a while, review your accounts to establish how much it has cost you to acquire each client. Then decide on how much each extra client is worth to you and therefore if it is profitable to invest additional resources to gain additional clients.

This is all about running a profitable business – it is no good throwing good money away developing a product or service which is losing money IF you have undertaken all the low cost marketing you can.

20% of your efforts will yield 80% of the results. If one marketing method works for you, do lots more of it. Don’t think ‘Leafleting is my best form of marketing. I’ll just try an advert to see if it’s better’. Only when you have the resources to expend on advertising or capacity to copy with the additional sales should you add another medium.

People buy from people they like, people they trust and who are credible

Saturday, March 20, 2010

Saturday Morning Musings

In a week which began with the final of the University of Hertfordshire business awards hosted by Ruth Badger of the Apprentice fame and ended with a fantastic Sports Relief night, the one thing UK enterprise is full of is INNOVATION. 

The four finalists at the UH awards have this in abundance  - an award-winning specialist board for cooking and serving fast-food, an event company offering tailor-made team-building experiences, a training system for helping the mentally ill and a revolutionary, gait imaging system!  All these companies were looking for funding from the four angels who formed the panel.  The winner of the £1,000 award was decided by the audience, largely made up of students and it went to the events company.  I would guess it was because £1,000 would make the most difference to their business. 

For my part, business consulting is all about creativity and innovation - it's more than just the numbers.  How do I help my clients stand out from the crowd in their field of expertise so that there company becomes the leader in their field? 

Saturday, February 27, 2010

Social Media Marketing - is it all hype?

Over the past few days I have been doing some in depth research into the relatively new phenomenon of Social Media Marketing.  It seems that all the training organisations are jumping on the bandwagon and offering courses on how to set up all the usual Social Media profiles for your business.

However, what they are not addressing is the 'why?'.  If I am a sculptor, for instance, why would I want to put reams and reams of information up on the internet?  How does it relate to me as an artist?  And, as importantly, are potential clients going to be impressed with the fact that I have a Twitter and a Facebook page?

At first glance, you would probably think not.  But think about it laterally.  The traditional way for artists to get their work recognised is by exhibiting in a gallery and showing at various exhibitions.  In return for showing the artists' work the gallery receives a significant commission.  Email campaigns may yield the odd piece of repeat business, as might specific mailshots and leaflet drops.  All expensive and time-consuming.

Then there is the website - a natural marketing tool for such a visual product.  Given that only 40% of all Google searches for a particularly product are unique, there is a fair chance that your specific website will be missed despite the fact that your piece of art may fit the potential clients specifications exactly.  Such is the difficulty with SEO.

The benefit of Social Media Marketing is that you go out and find your clients by targeting where your potential customers reside.  Using fan pages, groups and searches in a creative way can put your product in front of a wide audience.  Remember when you send a message to a contact, it will usually appear in front of that contact's contacts.  Such is the power of the Social Media framework.

Add videos, photos and valuable content and just maybe someone out there will take notice.

Alternatively, try picking up the phone and speaking to your clients.......