It is a precarious journey when it comes to communicating the value proposition of social media to the C-suite.
Often, this is because there is a gap between social mediaâs perceived benefits andÂ traditional business measurement.
This has led us to attempt to quantify our sales pitch. However, to be successful in persuading senior managementâor anyone for that matterâwe need to resist the urge to become dependent onÂ speculative analytics. More
Hard work, determination and passion are characteristics that shape a great entrepreneur. They also tell you a lot about a person, their values and what drives them. Unfortunately, these elements do not always lead to success. If we’re all in the same environment, with the same goals, with the same customers and the same idea, sure, your hard work and passion may be everything you need to expand.Â
The business, economic and entrepreneurial landscape changes on a daily basis. The environment in which we operate is not identical for each person. These changes influence how we market a product, our business models, our organizational structure and the ways in which we scale companies. If the environment we find ourselves in constantly changes and our competitors are not in the same exact position we are in, passion, determination and hard work alone is fruitless.
Skepticism of social media within the business world is prevalent and often entrenched. Rooted in traditional thinking and misunderstanding many decision makers cannot see the value beyond the cosmetic appeal of digital attraction. Many can’t wrap their minds around how this tool can be used within a traditional business structure. It’s understandable – the rigid composition of the business world doesn’t mesh well with the organic and malleable nature of social media.Â
“How can we monetize it?”, “How does it help our bottom line?”, or “how can it advance our business objectives?” are just some of the questions executives ask. It doesn’t matter what your answer is, many already know (rather think) it’s not for them or their company. There is a gap between the hard-lined ROI of social media and its more pronounced benefits that can support financial objectives. This is where humanization comes in – no, not kumbaya and hugging – but a social culture that affects a business. More
I recently had the opportunity to sit down with Brad Breininger, who is one of the founding partners of Zync Communications in Toronto. What is unique about Brad and his agency is that they haveÂ seamlesslyÂ integrated business developmentÂ ventures with creative services and experience. They have a refreshing vision for branding, which is grounded in the appreciation of raw business objectives. I would highly recommend that you visit their website and seeÂ whatÂ they are doing because they will revolutionize the entire communications, branding and PR industries.Â
I have always believed that marketing, branding and PR are not stand-alone elements of a business plan, yet many people today see these services as just that. The other aspect of this marketplace that has always left me with slight confusion is the unwavering and often blinding focus on strategy. I am the first person to say that strategy drives what you do, but the market today is saturated with people who focus too much on convoluted strategy than they do on practical application, pragmatic decision making and mostÂ importantly, business objectives. More
There is an elusive element to any communications and branding project: loyalty, or more specifically, how to increase true loyalty. Our pursuit of this intangibleÂ component is synonymous across industries, fields and environments.
Whether it is a company seeking to garner brand loyalty, a marketing campaign that aims to redefine the connection between consumer and product or service, a political figure who depends on support across time and space, or simply a person who yearns for a companion who offers unconditional faithfulness, loyalty is a cornerstone to success in many different contexts. More
Without taking into account the obvious effects that the global economic downturn has had onÂ entrepreneurialism, employment, and corporate growth, the business world is a competitive market to operate in successfully.
Remarkably, business failure statistics in Canada show that approximately 96-percent of small businesses that enter the marketplace survive for one full year, 85-percent survive for three years, and 70-percent survive for five years. The U.S. Small Business Association notes that 50-percent of all businesses fail within their first year.
There is no shortage of posts, articles, and books that offer great insight into the world of business failure and how a budding entrepreneur can hopefully sidestep theÂ seeminglyÂ predetermined path that so many otherÂ start-ups before them haveÂ taken.
According to Statistics Canada, and many business-minded individuals, most start-ups fail because of mismanagement, in the general, financial, and marketing sense. It was also noted that almost half of the firms in Canada that go bankrupt do so primarily because of their own missteps, rather than external forces (although this assumption may not hold true during the current economic environment). More