Monthly Archives: July 2013

How the 4 P’s Will Benefit Your Social Media Plan

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If you’ve ever taken a business course, it’s likely you encountered the infamous “4 P’s of Marketing.” The 4 P’s, product, price, place, and promotion, break marketing into categories.

These categories are all-inclusive and typically used to define a marketing plan. They can be used to guide holistic social media plans as well. Here’s how you can use the 4 P’s.

Product:

In social media, your product is content. The quality of the content will affect your overall marketing goals. Treating content like a product means that a brand should work toward standardization. Ensure content is build around consistent themes, style, consistency, and quality. Customers should know what to expect with your content and why it is worth consuming.

Questions to consider when building content for social media:

  • What is the purpose of the content (inform, entertain, explore, etc.)?
  • Can content be adapted to serve different networks uniquely?
  • Which type of content resonates best with my audience?

Price:

Price (in social media) is the cost of accessing and consuming data around your social media efforts. There are numerous items to consider when you are pricing out all of the tools that can make sense out of your data.

When calculating price, here are some questions to consider:

  • Which tool will help me meet my social media goals?
  • What kind of return can this tool provide me?

Place:

Place is all about getting the product to the customer through the best channel for the target audience. The best content in the world will never sell if consumers don’t know where or if they can get it. In social media, place is all about network selection. Do you know where your customers are?

When considering place, consider the following questions:

  • Where is my target audience online?
  • How much time does my target audience spend consuming content?
  • Can I effectively repurpose (share, adapt, etc) content on other networks?

Promotion:

Promotion is more than ads in the social media landscape. Promotion is about everything that can be done to spread awareness of your content, including — but not limited to — ads. For example, two out of three of your friends like a post you publish on Facebook. That post’s affinity edgerank spikes for the third friend, and as a result, that post will show up in their feed. Through engagement, that “product” has been introduced to a wider audience.

When planning promotion activity, here are some questions to consider:

  • How do ads fit into my content promotion strategy?
  • Can a sweepstakes or contest help build awareness?
  • What kind of call-to-action should I use?

3 Keys to Motivating Your Sales Team (and None of Them Are Money)

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Rewarding sales teams with money has long been a motivational tactic used by employers. Whether it’s high salaries, large commissions, incredible bonuses, or other financial rewards, the prospect of riches has long been thought to incentivize sales teams to bring in bigger deals more frequently. 

Yet in recent years, this school of thought has been called into question. In a Ted Conference talk, later animated by RSA Animate in the video below (which we originally covered here), Daniel Pink, author of To Sell is Human: The Surprising Truth About Moving Othersdiscussed what research and experience tell us truly motivates people personally and professionally.

Pink discusses a study conducted by researchers at MIT in which they looked at the correlation between financial reward and performance of cognitive functions. The results repeatedly showed that when large financial rewards are at stake, performance on complex tasks is consistently poor. 

Instead, Pink points to three keys which will help you get the most out of your workforce:

Autonomy

This is the desire to be self-directed and direct our own lives. In many ways, Pink says, traditional management runs afoul of this. Traditional management is great if you want compliance, but if you want engagement, self direction is better. One example is the company Atlassian, which each quarter gives developers 24 hours to work on anything they want without any supervision. That one day has led to a whole array of fixes to existing software and new products that would not have otherwise emerged. 

Mastery

Mastery is the urge to get better at stuff. This is why, Pink says, people play musical instruments on the weekend. It’s irrational; it’s not going to make them any money, so why are they doing it? Pink says that it’s fun, and that you get better at it, which is satisfying. He also gave an example of people doing highly skilled work around the world, volunteering their time to a cause that would give away a product rather than selling it. It may have seemed crazy 30 years ago, but examples like Linux and Wikipedia fly in the face of conventional wisdom run by people who have other jobs. Challenge and mastery, along with making a contribution are powerful motivators. 

Purpose

This all leads to what Pink calls the “purpose motive.” Organizations want to have a transcendent purpose. This is partly because it makes coming to work better, and party because it attracts better talent. When the profit motive gets unmoored from the purpose motive, Pink says, bad things happen. You might get ethical problems, bad products, lame service, and poor work environments. Companies and organizations that are flourishing are animated by these purposes, such as Skype (being disruptive but in the cause of making the world a better place) and Apple (want to put a ding in the universe). 

http://blogs.salesforce.com/company/2013/07/daniel-pink-motivating-sales-team.html?