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Blog posts tagged business
Lessons you can learn from TV business shows
October 29, 2009
Reality TV has taken a big role in raising the profile of entrepreneurship in the UK. But does watching a bunch of self-important investors smugly tearing strips off some poor first-time entrepreneur really show us what it takes to set up and run a small business? Are they conveying sound business lessons or simply mugging for the camera before striding off to negotiate another well-paid advertising contract?
Ok, I’m being deliberately cynical. But I think the major attraction of shows like Dragons’ Den and The Apprentice is the in-built ritual of humiliation. It’s sadism as entertainment. Having said that, I reckon there’s plenty a business owner can learn from watching these shows - even if it’s what not to do in business (eg, don’t pitch to Peter Jones unless you’re REALLY sure of your figures; don’t EVER answer back to Alan Sugar, that sort of thing).
Anyway, we’d like to know what you’ve learned from watching TV business shows. Do they contain proper business lessons that entrepreneurs can draw on? Or are these programmes just pure popcorn entertainment where the lesson for business owners is ‘Don’t ever do it like this’?
Let us know! We'll compile the best responses into an article for our newsletter and credit the contributors.
Please keep your contribution brief and to the point and send it to us by:
- leaving a comment at the bottom of this blog (simply register and sign in)
- tweeting it to our Twitter account (@MarketingDonut )
- sending us an email to info@marketingdonut.co.uk
Ten unwelcome guests at the marketing party
August 27, 2009
Guest post by Tom Albrighton
Modern marketing is a lot like a party. Work the room right and you’ll attract interest and new contacts. Fail to shine and you’ll be going home alone. Here are the ten marketing partygoers you never want to meet – or be.
1. The counsellor is full of unwelcome ‘why don’t you’ advice for everyone she meets – she’s the answer to a question nobody asked. Marketing moral: expertise is becoming devalued; cultivating strong personal connections may work better than positioning yourself as an expert.
2. The egotist holds forth interminably on his favourite topic: himself. Marketing moral: focus on the customer, not yourself. (See this post for more.)
3. The wallflower stands shyly on the sidelines even though her best friend could be introducing her to plenty of guests if asked. Marketing moral: proactively cultivate and request referrals and testimonials.
4. The geek batters you into submission with an enthusiastic but crashingly dull monologue about his phone, computer or other gadget. Marketing moral: don’t confuse technical features with customer benefits.
5. The clown keeps the jokes coming even if they’re not appreciated, appropriate or even funny. Marketing moral: Humour doesn’t travel and should be used with care – can you guarantee the reaction you’re hoping for?
6. The miser brings Liebfraumilch but drinks Moët. Marketing moral: In modern marketing, particularly social media, you have to give something (of yourself) before you receive.
7. The butterfly is always looking around the room for someone more interesting to talk to. Marketing moral: don’t neglect here-and-now customer needs in the quest for new connections or business.
8. The gatecrasher shouldn’t even be here at all but he never misses the chance to party, even if he doesn’t know anyone. Marketing moral: don’t waste time and money making a big splash when you really need focused exposure.
9. The nervous hostess flits between conversations, asking everyone if they’re enjoying themselves (and the vol-au-vents). Marketing moral: don’t over-regulate the conversation about your brand or content; allowing criticism shows strength and confirms authenticity.
10. The chatterbox just won’t shut up! Marketing moral: We can’t talk and listen at the same time; make time for learning as well as pushing out content.
Online Market Research: DIY or use an agency?
August 21, 2009
For a business that needs to gain a general view from a large cross-section of the population, and in as short a time as possible, there is no doubt that online research offers a viable benefit. This affordable way to test one’s target market is ideal for existing firms and new business start-ups and can play a vital role in obtaining financial support for your company.
Do It Yourself or with an agency?
The DIY method will allow you to carry out quantitative online market research (surveys) for little cost. It is definitely a method to consider when it comes to researching one’s market but it is also important to know how it differs from agency solutions. Here are some differences:
- The agency would provide you with access to a precise and qualitative panel, ensuring you of a sample of your target market. Unless you already have your own database, it will be hard to reach such a relevant and representative panel through forums, family and friends.
Moreover, with DIY surveys, the client puts the questions directly to the respondent so it compromises the objectivity of questioning and the impartiality of interpretation:
- Using the DIY method, for example writing the questionnaire, marketing it to find your respondents and analysing the results to make your report, will eat up a lot of your valuable time whereas using an agency will result in everything being catered for, from A to Z.
In addition, the agency will give you its expert opinion on the order and the formulation of the questions:
- The DIY method will provide you with a basic layout which is not always user-friendly and not always easy to use for the respondents. On the other side, the agency can customize the layout (using templates, videos, images and audio) for a more efficient, richer interrogative experience.
- The agency service allows for a very rapid turnaround – research can be undertaken and results received within a few days whereas it can take far longer using the DIY method, especially if you’re having difficulties reaching and interesting people in your survey.
- As previously stated in this article, the DIY method is not as expensive. However, for something so important to your business plan, doing online market research with an agency is cheaper than you think, with hundreds of responses costing less than a thousand pound.
See the Marketing Donut resources on Market research
The world just got smaller (again!)
July 02, 2009
When I tell people I blog, I use Twitter and actively work on growing my online network they usually respond in one of two ways. The first is that they launch into a conversation with me about the social media revolution we're experiencing - usually ending with useful URLs being swapped - and a post-conversation tweet or two. The second reaction, and one usually reserved for the - well let's just say more mature generation - is that of shock and fear of things world-wide-webish.
Before the boom of social media started in late 2005, people held a much more reserved approach to where and how their name, picture, and email could be used online. As time went on and online networks grew out of sight, people (en masse) became a lot more likely to share their details to others online.
Nowadays, to not have your foot in a major online network is madness – the effect it can have on your business is phenomenal.
If you want to get involved in at least one network, choose Twitter. Get yourself an account, link to your website, do some tweets and experience the benefits of what it can bring. Mark Shaw has recently recorded his Twitter for Business TV series, a collection of the best twitter tips - just perfect for those starting out. If you haven’t already seen them or read his blogs, you should.
I'd also highly recomend his free ebook which you can download directly from his blog.
Marketing Donut's Twitter conference - a great success!
July 02, 2009
No one knows when it might happen again but one thing is certain, the first Twitter Conference hosted by Marketing Donut, under the #mydonut hashtag, was a fantastic event and great success on many levels.
On Tuesday, 30 June at 0930 GMT the event kicked off with a flurry of activity. Overall it could be said that the conference was a piece of organised chaos where ideas were exchanged, views were shared and conversations were had. The event was organised with help from Twitter for business expert – Mark Shaw – who shares the Marketing Donut goal of helping small businesses get the best from their marketing activities.
Early estimates made by expert Twitter analyser, Andrew Fielden, indicate that the conference saw over 1,800 tweets exchanged in the 90 minute marathon session. Andrew said: “Wow, it was manic wasn't it and just goes to show how popular something like that can be. Well done to you guys for the effort being put in.”
The biggest result, in Twitter terms, was the 4th place positioning in the trending topics chart for a sustained period of time. The best part of the conference was the real reach that the event had and saw small business owners exchanging ideas, questions and views in one place with experts. As you can imagine, Marketing Donut site traffic was on the up and the overall reach of Twitter users who could have seen any one of the tweets was 67,562.
The range of topics covered was vast and we hope that it was a gainful experience for all involved – as a trial event we did not know what might happen; but there is a definite working idea, which can be adapted for another time, in order to help small businesses maximise their marketing activity, and to get them connected with experts in one place for free!
Thank you to everyone who took part.
A selection of tweets by experts, small businesses and the Marketing Donut during the event:
yBCmels RT @simon_editor: Phew! Thanks for you question and comments, everyone. Good event! #mydonut// Solid effort!
Tuesday 30th of June 2009
Signposter Great conference #mydonut people. Have a fantastic time. Now back to work ;-(
Tuesday 30th of June 2009
MarkPocock Are you building your list on your web site? No, don't offer your damn newsletter.Offer something of value. #mydonut
Tuesday 30th of June 2009
ThePodCompany RT @Firzzy: Do facebook pages really work? #mydonut
Tuesday 30th of June 2009
MarketingDonut Today a twitter conference-tomorrow..some kind of Glastonbury for Twitter? #mydonut
Tuesday 30th of June
Local businesses must seize low-risk advertising opportunities
July 01, 2009
Local press has been having a torrid time of it lately. It seems that scarcely a week goes by without reports of more problems for titles and groups within the medium. It's also a tough time for small businesses, which are seeing their profits squeezed by the downturn, while knowing full well that there has never been a more important time to shout louder than others in their field.
Given these circumstances it might seem like a very frightening time to commit precious promotional budget to a struggling medium. But there are alternatives, and now is a great time to explore them. A service such as Signposter.com, an online service helping UK businesses buy and manage outdoor advertising, offers a viable, effective, low-cost and risk-free way to build up promotional collateral free from any potential surrounding editorial negativity.
There is no denying that local press has a role to play in the promotional mix for small businesses. It's a proven way of reaching consumers in a local area. But now is surely the time for local businesses to do some research and be more adventurous, and gain stand-out by doing so.
Outdoor advertising is now within the reach of small business managers.
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