As I am working tonight, I am watching a CNBC special about the Swimsuit Issue of the Sports Illustrated magazine.  It is fascinating to me to watch what a large distinct business was created from a simple decision to do a particular photo shoot in a single magazine focused on sports.  The level of growth in the business and the number of superstars that were created from this single magazine issue is beyond anything that could have been comprehended.  As an example - it was quoted that it is Time Inc's most profitable single magazine issue.
 
I think it is a blueprint for all of us in business - to look at our audience (however we define the universe in which we do business) and then to define our products and our offerings in the context of that audience.  How many times have we heard about successful businesses that have started with a certain business plan, product or solution in mind, only to end up with a different offering and business model? 

People often ask me how important a business plan is to launching a business.  My response is that it is critical for the investment community that you have a well written and well thought out business plan but for internal purposes not so much.  In fact, what is more valuable for the CEO is a 2-page list of bullets that identify direction and plan and goals - something that can be easily morphed and managed.  Think about the business that you are in.  Think about the clients / audience that you are serving.  Now, think about what opportunities are available for you because of that client / audience base. 

Be flexible.  Be nimble.  Try different things.  Be "married" to your clients and your audience but do not get yourself "married" to your product - be open to what it could be and what potential you have created.

Photo Credit: Archangeli

Miriam Kutcher, VP of Marketing at IDC Insights was kind enough to sit down with me earlier this week to discuss the IDC Insights community.  Our discussion covered the community's goals, process, milestones, as well as success metrics for the community.  Miriam does of a fantastic job of talking about how she is linking the community to real sales at IDC! A video of our conversation is below:

To see the IDC Insights community in action, just visit: http://idc-insights-community.com or follow them on Twitter at: @IDCInsights.  You can find the blogging tips presentation that Miriam refers in an earlier post of mine: 10 Tips for Better Business Blogging.

I love the way Miriam measures her community's ROI through the SalesForce integration.  I would love for others to comment on how they are measuring their community ROI (if they are measuring it)?  

There are many ways to consult. Many people offering services around social media and online marketing are flat out running companies' programs as an outsourced hired gun. Other social media marketing agencies are writing high level strategy docs and handing them over to an agency of record for execution. These models are just fine. We tend to prefer a partner approach, and here's why.

At New Marketing Labs, we work with our clients to understand their goals, where they are at present with their online efforts, and which needles we can help them move in the business environment. Once we've assessed, we draw the landscape that surrounds our partner's goals. Once we do that, we educate. After education comes execution, with experimentation and then course correction.

It's those last two parts that are hard to do when you just hand off the reins or work from a static document.

In writing this, I'm hoping to show you what we think about when we think about doing social media, so that you have a sense of how we operate as a prospective partner for your organization. Colin Bower, my principal at New Marketing Labs said it best: "You like to tell people we teach them to fish, but really, we're more like a chartered fishing expedition company. We find the best fishing holes, help you get the poles in the water, show you some of our techniques, and then we let go only when you say let go. Even then, we're nearby to help you, if you get into a bind."

I loved this. I've been talking about it with people for weeks and weeks and weeks. Because he's right. In our worldview, the value we can add comes from the fact that we're deep in the space, we're a living laboratory of what's going on, what's working, what's not all that hot, and what will really set your goals on fire. And we stay right close to the experience so that we can be helpful the whole way through.

That might not fit every company's corporate culture. But when we recently picked up SAS as a new partner, we received quite the compliment, insofar as they told us that they tend to do most of their work in-house, and rarely work with consultants.

It's our goal in 2010 to make our clients into partners at New Marketing Labs, and to work even closer on projects that execute well and show tangible results. We've got lots to share, and I hope to keep up that conversation.

How about you? Does this kind of partnership make sense? Do you see your company working more loosely with your online marketing consultants? How are you building your business relationships when it comes to social media and online marketing?

Photo Credit: joiseyshowaa