Monday, July 27, 2009

Effective Social Media Tips, Obama Style

I just finished reading a great book, Yes We Did by Rahaf Harfoush about how social media built the Obama brand.

Rahaf is a new media strategist from Toronto, who got an incredible opportunity to work on the
New Media team for the Obama campaign. In her book, she takes you inside the entire online operation of the campaign and the strategy behind everything that significantly contributed to Obama's victory.

Rahaf shared some very helpful social media lessons that can be easily applied to your online community / presence.
As I was reading the book, I shared some of them via Twitter. Click here if you would like to reply to any of them via Twitter, otherwise, I've listed them below:

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1. "
How well do u know ur community? Offer the right incentives to increase engagement."

Obama's New Media Team offered great incentives to users such as dinners with Obama, front row seats at speeches and rallies, and 3-on-3 basketball challenges. These were the perfect incentives to drive the audience they wanted and needed. So, this begs the question, what drives your audience? I'm still in the process of figuring that out as it relates to ProspectLinker.

2.
"Newly launched communities must establish routines & rituals to manage user expectations."

We all know that social media is about building that connection and long-term relationship between your organization and users / consumers. Establishing rituals and routines definitely helps. Back in September 2007, the focus of the campaign was to lay a solid groundwork for offline participation. And, through consistent regular social network profile updates, blog posts, and emails from the Director, David Plouffe, supporters of Obama were encouraged to get together and prepare for their primaries and caucuses in the beginning of 2008.

The same sort of consistency should be applied to your company in general. A friend of mine, Jun Loayza, wrote a great post a month ago about how important creating systems to stay consistent with marketing campaigns helped him survive the first few weeks of launching his startup. See his post here.

3. "
Focus on what matters for your community and incite the right actions."

Like many websites, the myBarackObama website had a points system that kept track of users participation and rankings. The reason for this was to use online tools to organize offline action. That was their mandate. Their points system was refined to clearly reflect specific recent activities that user's were engaged in and then ranked them against other users in order to perpetuate participation. Very smart!

At ProspectLinker Beta (soon to be renamed), our mandate is to create tools that help people get insight from those who are outside of their network. As we've figured this out over time, going forward, every feature will emphasize and support this mandate. Our initial points system, which I believe we initially got wrong, (similar to how the new media team got it wrong with the myBO site) will change on our site soon. What matters is to learn from your mistakes and then figure out what works to help your mandate. The key is to know what is your mandate is.

4. "
When asking something of ur community, make their experience more comfortable"

One aspect of the campaign that I loved was the myBO iPhone app that was built. Traditionally, volunteers would call strangers to encourage them to vote, right? Well, not with the Obama campaign, their app would tap into the users' personal contacts in their address book and identify people locally from their friends, who have not been called yet. How cool is that? How easy is it now to call someone you know, who's a friend and encourage them to vote? Brilliant!
They made an emphasis to make their users comfortable with the asks they called upon.

I have definitely been thinking about how to make our users of ProspectLinker (and potential users) more comfortable with how to use to pL.

5. "
Ensure that you have strong analytics and consult them often in your email marketing strategy."

The Obama campaign had an entire team focused solely on analytics. Measuring the responses on emails, where users clicked, whether they respond to graphics, pictures, embedded videos, or not, etc. I noted this particular one because ProspectLinker will be heavily utilizing email and it's important to refine them and make them better each time.

If you are a ProspectLinker user and have received any of our emails, I would love to hear your thoughts on how we can make improvements on them. In addition to your feedback, we will be consulting the analytics to see what works best.

6.
"Use stories of people interacting with ur brand and share them with ur community."

One of my favorite posts on the ProspectLinker blog was sharing an example of how a friend of mine needed advice from a media and entertainment professional and used ProspectLinker to get it. I wrote the blog post to help explain the value proposition of the company. As a result of the post, we received several new subscribers. It proved to be very helpful for our readers to relate and connect with a person who benefited from using our site.

7. "
Measure engagement, not membership (i.e. quality, returning visitors, time spent, etc.)."

I remember a tweet from a friend of mine a while ago who said, "It's not about how many followers you have, but about how engaged they are with you." I agree. The question is how do you define your engagement? Through the quality of comments, number of returning visitors, length of time spent on a page, etc. These sorts of metrics provide a better sense of your engagement with members of your community.

8. "
Smart org make their online presence more interesting by posting external content."

One of the ways to generate traffic to your blog is to write great content for someone else in your space with a guest blog post. However, as much as that benefits you, it also serves as a benefit for the person / community that shared your blog post. Why? Because having someone external to your organization post content can not only make your online presence more interesting, but can also integrate your site into the online community.

9. "
Constantly research the effectiveness of ur emails, blogs, etc as perfection is a luxury."

As mentioned above in #5, consulting your analytics is very helpful in measuring whether your messages resonate with your community. It is very rare that a company can get it right from the jump. I've experienced this over the course of working on my startup. I completely agree with how Rahaf has worded it, "Today, perfection is a luxury that competes with the speed of changing technology." Iteration is so important. I've realized that the product my company releases may not be actually perfect when released, but rather, an ongoing work in progress. And, what we should strive to do is to improve those processes.

***

Do you currently implement these social media tips? Do you have any additional thoughts pertaining to any of them in particular that could be helpful for everyone to know? Please share below in the comments.

Cheers,
Andre
http://abuddingentrepreneur.blogspot.com



Follow me on Twitter || http://twitter.com/acharoo
Blog || http://abuddingentrepreneur.blogspot.com






Friday, July 24, 2009

Startup Life: Paying in Time and Costs

It seems pretty trivial and obvious, but, I didn't exactly do it when I started my company. And, I don't think a lot of others to do it either -- keep your costs low!

If you've just left your job in the corporate world and you're not receiving regular payments every two weeks or so, and you plan on starting a company (or maybe you have already), cut all of your costs as much as you possibly can, immediately. Why?

Because there are two misunderstandings when starting a company:

1. "I will be able to get my company off of the ground pretty fast, so..."

I guess this depends on your idea, however, it really does take time to get your idea off the ground. You should give yourself enough time to test it, get feedback, change it, tweak it, etc... It all takes time. Ensure that you've incorporated this period of time in your cost estimates.

2. "I'll generate enough revenue from my company pretty quickly, or I'll be able to raise financing soon..."

Even when the market was good, it is very difficult to raise financing. And you really shouldn't put too many expectations on it because if it falls through, what will you do? I've learned that starting a company simply takes time. Generating revenue takes time. Raising money takes time. So, make sure you give yourself some time. By this, I mean manage your internal expectations, so there isn't a disconnect between your cost requirements and time constraints.

I went to the start-up life thinking I could raise money shortly after starting my company. The reality is, it has taken time. I feel like if I had changed my lifestyle immediately when I started my company, I would have saved a lot of money and been able to use more of it to finance my start-up.

I think a great mentality to have is to always try to keep costs low whichever way you can. Even though we've raised a bit of money to help us move forward, I still find myself doing everything I can to cut costs.

Any similar sentiments regarding managing costs in the early days of your startup?

Cheers,
Andre
http://abuddingentrepreneur.blogspot.com



Follow me on Twitter || http://twitter.com/acharoo
Blog || http://abuddingentrepreneur.blogspot.com

Wednesday, July 15, 2009

A Marketing Tactic That Worked For Me

I've been thinking about marketing tactics that my company can implement to encourage users to try out our new beta site when we release it. One idea that seems pretty simple, but widely used, just didn't cross my mind as being very effective, until I succumbed to it myself -- "blog about us and we'll give you FREE access!"

My last post entitled "Website Recommendation for Learning Chinese" was pretty random as it relates to the theme of my blog. However, I still wrote a post that essentially gave me free access to a site I've been using to help me learn Chinese. Simple, straightforward, but pretty effective for the company, right? I think so.

The idea works best for websites that adopt freemium models, a business model that works for offering basic services for free, while charging a premium for advanced or special features. This works especially well if you plan to charge for your service right out of the gate (i.e. as soon as you release).

Have you written about a company so you can get free access?

Cheers,
Andre
http://abuddingentpreneur.blogspot.com

Follow me on Twitter || http://twitter.com/acharoo
Blog || http://abuddingentrepreneur.blogspot.com

Monday, July 13, 2009

Website Recommendation for Learning Chinese

Many of my close friends know that I don't do much besides work on my start-up right now, however, there are a few things that I try to make some personal time for, and one of them is learning Chinese.

Over the past little while, I've been quite ambitious to learn both Mandarin and Cantonese for a few reasons:

1. My beautiful girlfriend is Chinese and everyone in her family converse in predominantly Cantonese. It would be great to know what they're saying, at least, half of the time.

2. My girlfriend's mother can only speak Chinese and I would love to be able to interact with her more. One of my personal goals is to be able to have a 3-5 minute conversation with her over the phone, specifically, all in Cantonese.

3. While knowing Cantonese will undoubtedly help me with my interactions with my girlfriend's family, Mandarin apparently, is the language I should be learning, as it's much more prevalent.

My girlfriend has been telling me to focus on Mandarin for awhile now, but, I didn't really listen. (I just thought she didn't want me to understand what her family was talking about. That's part of it, but, not the whole story). I recently got further confirmation that Mandarin is what I should be learning from a very prominent person in China, my business partner's mentor, a former CEO of Hang Seng Bank. He mentioned that the wealth coming out of China now, versus Hong Kong, many years ago, is all the more reason why you should know Mandarin if you ever plan to potentially do business over there. So, needless to say, I'm trying to learn Mandarin as well.

4. I've always wanted to learn another language. I think being able to speak multiple languages is important and a great skill set to have.

At the end of the day, learning both languages at the same time is quite ambitious, however, I'm pretty determined that I'll be able to do it over a long period of time.

I've been trying to find online resources that will help me learn both Mandarin and Cantonese, but have been unsuccessful, until now.

I have recently started using www.learnchineseEZ.com and I find it very useful for a number of reasons:

- great simple interface that breaks down your learning into 4 parts: (1) English; (2) Chinese (a) the English pronunciation; (b) the audio recording so you can hear what the phrase sounds like, without being sent to a new page and having to go back and forth, etc. It all happens on the same page; (3) the literal meaning; and (4) a short explanation of what you're saying with some background knowledge.

- help you differentiate similar sounding words that have completely different meanings.

- ability to download a audio transcript so you can listen on the go.

- a significant amount of FREE lessons that provide you with some solid basics that you can use... and more importantly, show how great the service is.

- cheap -- one time $10 membership fee that gives you access to both Mandarin and Cantonese materials.

Let me know if you end up checking it out.

Cheers,
Andre
http://abuddingentrepreneur.blogspot.com