Dick Morgan CMC, FIMC
A business newsletter with Pizzazz!
"We help leaders tackle major issues and become better marketers
Dick Morgan CMC, FIMC
April
2009April 1st marks the twentieth anniversary for my consulting practice. Particular thanks go to my clients who give me the opportunity to assist them in creating better results. Thanks, also, to my network of friends and IMC colleagues who provide support, inspiration, and referrals. Finally, a million thanks to my wife, Doris, for her patience and support as I begin my twenty-first year in management consulting. I look forward to the future challenges of a very different business environment.
People buy from other people, and social networking is a quick, inexpensive way to connect with a host of others. Business people often use LinkedIn and Plaxo to expand personal networks and increase their exposure. I use both sites to varying extents. Today, many other sites offer additional possibilities. It may pay you to explore each one and unleash your creativity. This month's issue explores a few you may want to consider.
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Business begins to embrace social networking channels...should you?
Marketing Facets - The Market Focused Guide to Company Analysis
Business begins to embrace social networking channels...should you?
When I consider the current crop of social networking sites, it reminds me of the early days on the World Wide Web. The early stages of today's Internet were rather mystifying to business people, but that soon changed as more and more companies established web sites and create a presence on the web. Many said, "I don't know what having a web site will do for my firm, but I suppose that I'd better look into it." Today, it is rare to encounter a company that has no web site.
People buy from other people, and social networking is a quick, inexpensive way to connect with a host of others. Business people often use LinkedIn and Plaxo to expand personal networks and increase their exposure. I use both sites to varying extents. I now have 96 LinkedIn first level contacts. Second level network contacts through my first level people total 52,800, and I am linked at the third level with 4,511,200 people! My Plaxo account connects me to 58 people and the list grows weekly.
Now, there are many other social networking sites to consider. I am now experimenting with Twitter, and Newsvine, to name just two.
MSN Newsvine allows you to post articles and seed links to items of interest to its searchable database. Newsvine is a combination of social networking and personal news source.
Twitter has been getting tremendous buzz recently. You set up your account, then you can post short 140 character messages to let your network know what you are doing. Having just started, I have already posted 30 updates to my Twitter site, dick_morgan_cmc. Soon, people begin to find and follow you, and you expand your network by following other people who interest you.
Other options like Facebook, You Tube, and My Space appear to be aimed more at the general public, including teens. However, You Tube videos can be very useful marketing tools for professional service providers and firms with limited marketing budgets. Jeff Crilley, a former TV news reporter in Dallas, successfully produces his weekly PR and marketing tips at home using You Tube.
Gary Vaynerchuk, a New Jersey wine broker, uses Viddler, a free video site, to record his amusing and informative weekly "Wine Library TV" productions from his office. There seems to be no end to creative ways that businesses can leverage the Internet to open communication with clients and prospects!
Second Life is a 3D virtual world created by resident users, featuring avatars that you can tailor to any look you wish. Some large firms use exclusive Second Life worlds they create to hold private meetings among far-flung associates.
Then there are blogs. It is not difficult to set up a web log, or "blog" either on your web site, or in addition to your web site. Blogs have become important sources of direct feedback to major corporations and small businesses alike. A firm sets up its own blog and also monitors other blogs that focus on their industry or competitors. Information and opinions are unfiltered, so care must be exercised by moderators. Blogs also require constant input and feedback analysis. The use of blogs to gain customer feedback and competitive intelligence grows daily.
Maybe it is time for you to do some serious web surfing while wearing your creative hat. In most cases, it costs little or nothing to test our the many options now available to supplement your existing web site. Two of my clients have asked me to help them explore the use of short videos and blogs to supplement their existing web sites. I am not an expert yet, but my clients and my own desire for expanded marketing mean that I must quickly absorb the powerful capabilities of social networking.
Marketing Facets - The Market-focused Guide to Company Analysis
Should a salesperson's birth date be an important fact for a company acquirer to know? Could extended product warranties create a competitive advantage? How does the company forecast sales? What are the backgrounds and capabilities of the firm's key managers? Answers to these and a vast array of other in-depth questions receive attention in Marketing Facets.
Marketing Facets is a practical resource for those involved in determining the current health of a company and gauging its future prospects. Marketing Facets is a 103-page guidebook, and a supplement to other evaluation procedures and information normally gathered during a thorough due diligence or business valuation process. The workbook takes a holistic approach, assembling facts and management assumptions in key areas to help the analyst form and support conclusions.
Marketing Facets is a valuable resource to private investment fund managers, individual investors, venture capital specialists, investment banks, and valuation specialists. Marketing Facets is also a guide for C-level executives who wish to perform their own company analysis as part of normal business planning, or in advance of efforts to refinance, acquire or divest.
Marketing Facets is available in electronic form via the Internet, on CD/ROM, or in print with a ring binder.2. Blessed is the man who can laugh at himself,
for he will never cease to be amused!
3. The freedom of any people can be judged by
the volume of their laughter.
4. Laughter is to
life what salt is to popcorn.
5. Laughter is but a frown turned upside
down!
6. Laughter...a tranquilizer with no side effects.
7. If you can still laugh, you can never be poor!
8. A good belly laugh is the best medicine, whether you are sick or not!
$ Million Marketing Tips
Facts about wine...
A client
speaks: "Perhaps
this will motivate another business owner. Eighteen years ago, I was under my
building and my business was on top of me. Dick took me aside for two days and
got us refocused. Since then, our sales have tripled! The company is far more
profitable since Dick helped me get through a very rough period. I have referred
others to Morgan Marketing Solutions over the years and they, too, received
excellent support. I continue to consider Dick Morgan a valuable outside
counselor, and I call on him when I ponder a major decision."
Ned Edwards, President, Star Tire,
Inc., Dallas,
TX
P.S. Ninety-five percent of our engagements originate as a referral from helpful people like you!
I would appreciate the opportunity to discuss the situation with you.
Our ideal client
is a business owner or CEO between 30 and 60+ years old. Usually with a financial, engineering, or production background. Who is often impatient, and interested in improving company performance. Comes alive when you ask, "How's business?" He, or she, is practical but also enjoys the finer things in life. So, you may see my ideal client driving a Lexus, BMW, or SUV to Neiman Marcus...and to Sam's Club. Who do you know that fits this description?
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Richard P. Morgan CMC, FIMC
Morgan Marketing Solutions, Inc.
Two Galleria
Tower, Suite 1000 Box 8
13455 Noel Road, Dallas, TX
75240-6620
Telephone 972.931.7993 fax 972.931.0542
email
Author, Marketing Facets - The Market-focused
Guide to Company Analysis