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The Fire Funnel Process by John Lee Dumas at Youpreneur Summit

November 11, 2017 by Niklas Myhr 8 Comments

Youpreneur summit, John Lee Dumas, EOFireThe opening keynote speaker at the inaugural Youpreneur Summit John Lee Dumas, founder of the popular Entrepreneur on Fire Podcast, shared his Fire Funnel process for digital entrepreneurs. John started out by suggesting that you start with a “Funnel Up Process” to understand who you are going to serve before you design your sales of your “Funnel Down Funnel”.

 

The Funnel Up process

  1. Youpreneur summit, John Lee Dumas, EOFireThe Idea. What is your big idea that you want to build upon.
  2. The Niche. Get that initial momentum is key, not easy, but once you get it, you can get things going. Then you can expand your scope. Rather than being Mr or Mrs Social Media of London, you'd be better off helping female dentists in Soho get one new client via Facebook Ads.
  3. The Avatar. Who is that perfect customer, the listener to your podcast, the reader of your blog. Get to know that person in and out and try to identify their struggles.
  4. The Medium of Choice. Blogging, podcasting, video, etc. Which one should you focus on?
  5. The Content Creation. You need a system to setup to make sure you have a process to create great content on a regular basis.
  6. The Repurpose. Once you have a good platform you can find content that can be used on other platforms as well. John uses Repurpose.io to get his podcast episodes elsewhere.
  7. The Growth. How can you help others discover you.
  8. The Audience Engagement. He gets millions of listens of his podcast each month which is absolutely absurd to him but he doesn't want to forget about doing things that don't scale. Don't be scared of having a one-on-one conversation. Yes, they can be time-consuming but that is where the gold is. You can learn about what works and doesn't and develop relationships.
  9. The Solution. How can you help solve their problem and serve them. If you keep this in mind from the start, you will focus on generating the right leads and nurture them from the start.

The Funnel Down Process

Youpreneur summit, John Lee Dumas, EOFireOnce you have gone through the Funnel Up process, you better know how you can help your audience and then you can design your Funnel Down Process to serve them.

  • Your lead generation. Now you know who to target.
  • Your Call to Action. Have a specific thing you want them to do.
  • Your Audience's Email Exchange.
  • Your Solution Delivery.
  • Your Audience Consumes.
  • Your Next CTA.
  • Live Training. Here John Lee Dumas emphasized the power of live webinars which is where he has made millions.
  • Live Q&A. Perhaps there is just one remaining obstacle remaining for someone to buy and if you make yourself available live, you can have it resolved right then and there.
  • Offer. Provide an offer that is supremely valuable for your audience.
  • Monetize.

The Fire Funnel by EO Fire

Youpreneur summit, John Lee Dumas, EOFireFinally, John Lee Dumas shared how he built an empire around daily podcasts with interviews of entrepreneurs. Check out Entrepreneurs on Fire or EO Fire and enjoy the show! John's final perspective he shared that sums up much of his perspective was a quote by Albert Einstein: “Try not to become a man of success. Rather become a man of value.”

Youpreneur summit, John Lee Dumas, EOFire

Youpreneur summit, John Lee Dumas, EOFire

Filed Under: Content Marketing, Digital Marketing, Entrepreneurship, Marketing, Personal Branding

Keynote Speaker at Public Sector Digital Transformation Conference

October 13, 2017 by Niklas Myhr Leave a Comment

Anna Bellman Niklas Myhr
Stage Selfie with Anna Bellman, Master of Ceremony

Got the opportunity to serve as a keynote speaker in front of an enthusiastic crowd of 700 public sector executives at a major digital transformation conference (eFörvaltningsdagarna & Publikom) at Stockholm International Fairs (Stockholmsmässan) in Sweden. I shared my perspectives on digital transformation with a specific focus on social media and digital communication strategies.

Niklas Myhr, the social media professor, #efdagarna, #publikomWhile I respect that many public sector executives are unlikely to jump all over the latest social media platforms and tactics, I was impressed by the curiosity shown both during my talk and in many subsequent discussions with attendees. Many of them also agreed with me that many of the same principles that apply to businesses also are relevant in the public sector such as the value of being faster than ever before with your communications such as in the following situations.

Social Media for Crisis Management

Niklas Myhr, #EFDagarna, #Publikom, Keynote speaker, digital transformation
Photo by Rikard Hällberg, Företags TV

A few years back, I worked with Orange County Government and their social media activities. One thing I remember one of their executives mention is that they strived to build a following on social media so that they would have established alternative modes of communications with the public before the big earthquake hits. That is, if you wait until a crisis situation to occur before you engage on social media, you may not have anyone finding your messages.

I also showcased the impressive efforts by various fire departments and other first responders in Orange County during the Canyon Fire 2 brushfire. Anaheim Fire & Rescue, for example, demonstrated their ability to use Twitter for continuous sharing of real-time updates with the latest news on mandatory evacuations, emergency shelters, where to bring your horses and other animals, as well as the status of their efforts to contain the fire itself.

Newsjacking and Fake News

Niklas Myhr, #EFDagarna, #Publikom, Keynote speaker, digital transformation
Photo by Rikard Hällberg, Företags TV

Another reason why public sector executives may benefit from getting their updates out on various social networks in an expedient manner is that if they are not doing that, they will be more exposed to the threat by various fake news campaigns. For example, during the Las Vegas massacre, it didn't take long before fake news began appearing claiming that the event never actually occurred but was merely a conspiracy to force tougher laws on gun control. Therefore, it could be more important than before for public sector officials to get quickly get an official version of an emerging story out there to at least provide some counterbalance to various sources of fake news.

Focus on Customer Experience

Niklas Myhr, the social media professor, #efdagarna, #publikom
Photo by Patrik Koc Strömberg

Outside of crisis situations, more and more public sector executives are beginning to consider their citizenship as customers and are following the lead of the business world in trying to provide as much of a seamless customer experience as possible in dealing with various government institutions. I shared how I expect that my upcoming book The Social Customer Journey would be important in this regard. For example, the public sector would serve their citizens better by providing more options than before in terms of how you communicate with a government office. Also, that the institution is able to better serve what is needed, when it is needed, and not too much redundant information that isn't needed for the transaction in question.

Audience Interaction

One of the best parts of speaking at events is chatting with people afterwards to learn about their challenges and this conference was no exception. Se below for some people I met even including a nice testimonial by a happy attendee Lars-Erik Andersson, IT Director of Knivsta & Heby Municipalities:

https://thesocialmediaprofessor.com/wp-content/uploads/2017/10/Lars-Erik-Andersson-IT-chef-Knivsta-Heby-Kommuner-Testimonial.m4v

Photo credits: Thanks for some of the pics by Patrik Koc Strömberg, Christina Nordström, and by Rikard Hällberg (Företags TV).

Isabella Ljungdahl och Niklas Myhr
With Isabella Ljungdahl of Hexanova Events
Niklas Myhr Helena Renström
Helena Renström from the City of Skellefteå
Met Janne Vikberg of Piteå
With Sune Lindström and Ola Lidström from City of Piteå
Niklas Myhr Anna Kelly Eva Sartorius
With Anna Kelly & Eva Sartorius
Pia Lidberg, winner of selfie light

 

Filed Under: Digital Marketing, Featured2, Social Media, Speaking

Ok to edit twiets? Tweets I meant!

December 30, 2016 by Niklas Myhr Leave a Comment

Jack Dorsey Niklas Myhr TwitterSo, Twitter CEO Jack Dorsey is considering allowing for tweets to be edited. Not only does he state that this is the most requested feature from users of Twitter but he also admits that he himself has wished numerous times that there was an option for him to go in and edit a recent tweet with minor updates for typos, etc.
 

This is our most requested feature (today & always). Mostly to quickly fix mistakes. Anything beyond would need to show revision history https://t.co/fHtGNjkuEx

— jack (@jack) December 29, 2016

 
I can see why such a feature would be welcomed by many and it would also mimic the capabilities of other platforms such as Facebook and Instagram which allow for edits of postings to be made. However, such a change would not come without complications and apparently Twitter is actively considering how necessary accommodations could be made. For example, should there be a backlog of revisions made as tweets now are considered public record. News organizations and others should be able to refer back to the specific version of the tweet that they considered while reacting to it. Also, should edits be allowed only for a few minutes after a tweet has been posted and what happens if numerous people retweets or embeds a post that then later is significantly edited?

While I agree that Twitter needs to be concerned with the viewpoints of their loyal user base and that they need to innovate as they move forward to also attract new users, my take on this proposal is that it is a bad idea. I don’t think people on the street not yet on Twitter are staying out because they cannot edit tweets. Also, I find it hard to label the workaround as onerous. People realizing they have posted a Tweet they regret can simply delete the tweet and then repost it as they see fit.

I recognize, though, that sometimes a tweet involves more than simply typing 140 characters as a tweet also could include videos or pictures with tagged people, etc. Still, Twitter could allow for such tweets to be reposted in a simpler way than before by allowing old tweets to be repurposed as a draft of a new one. Currently, underneath the option “Delete Tweet,” they could add another option, “Delete Tweet but add content to Compose new Tweet” or possibly “Delete Tweet, add to Drafts.”

.@jack Allow for mistweets incl pics, tags, etc, to be repurposed as drafts “Delete Tweet, add content to Compose New Tweet” #Twitter2017 — Niklas Myhr, Ph.D. (@NiklasMyhr) December 30, 2016

Regardless, kudos to Jack Dorsey for soliciting feedback on the platform and for demonstrating the power of conversations on Twitter with a truly responsive attitude in his very active presence on Twitter today so I have decided to remain on Twitter also in 2017, will I see you there?

Conversations: this is a big part of the magic of Twitter and currently really difficult to follow & manage. We’ll work to make this easier

— jack (@jack) December 30, 2016

Filed Under: Digital Marketing, Social Media

The Unsexy Entrepreneur Bares it all

November 28, 2016 by Niklas Myhr Leave a Comment

Lauren Gaggioli guest in Niklas Myhr Chapman University class on social media“Lauren, why aren't you on Twitter? You are missing the boat, it's amazing!” That is the question my friend Mitch Jackson asked his daughter's in-home ACT & SAT tutor Lauren Gaggioli. Lauren took action, became obsessed with digital entrepreneurship after finding the podcasts of the likes of Pat Flynn talking about developing passive income and Michael Hyatt on how to build your online platform.

Lauren Gaggioli Chapman University Niklas Myhr Social Media ClassShe drove 7,000 miles a year and worked every day between 3 and 10 pm and never saw her husband. Even if she loved tutoring students and saw great results such as with Mitch's daughter A.J. she decided that this had to stop and she decided to move her business online. First, she developed a course teaching students how to prepare for the ACT & SAT tests. However, she had not primed the pump and found only crickets after launching her online course. If you build it, customers will not necessarily come was the hard lesson.

Then Lauren realized she had to build an audience and trust first and hence her first podcast, The College Admissions Checklist was born. This podcast served as a dual affinity builder by attracting both parents and college counsellors which helped her grow her clientele. Parents, usually moms, wanting to help their kids listened and wanted more of Lauren's help and then she could refer them to her online training. College counselors she developed relationships with by interviewing them on the podcast and in return they often refer business to Lauren as they learn that she knows her stuff.

She found it curious how the big companies in the test prep space had not gotten a handle on good content marketing to build trust and the podcasts they had tried, they had abandoned. This way, Lauren could fill a void in the marketplace and it was more important to get it going rather than making it perfect.

After podcasting for a while, she began networking more and more with other podcasters and famous Walt Disney World Radio show how Lou Mongello has become sort of a mentor for Lauren. Eventually, she was invited to the prestigious Social Media Marketing World to speak on a podcasting panel chaired by Lou Mongello and I personally had the pleasure of attending live when Lauren ruled the show flanked by Chris Ducker and Pat Flynn.

By moving her training to an online course, she freed up her brainspace to focus on digital entrepreneurship. Now she actually has found a new outlet for her thoughts in this arena as she has launched “The Unsexy Side Podcast” where she shares the behind the scenes perspectives of what entrepreneurial life is really like and it is not always a walk the park. This authenticity is key to the organic and successful growth of the brand of Lauren Gaggioli and I can now attest she is a great public speaker too as my social media marketing class at Chapman University stayed engaged for the full hour and were inspired by her genuine enthusiasm and I am too excited to stay connected and follow her next moves on and offline!

Lauren Gaggioli chapman university social media class by Niklas Myhr

Filed Under: Chapman University, Content Marketing, Digital Marketing, Entrepreneurship Tagged With: Lauren Gaggioli

Creative Digital Experiences from Cold, Curiosity and Courage

November 18, 2016 by Niklas Myhr Leave a Comment

Daniel Ilić, North Kingdom at Chapman University 1
Daniel Ilić, North Kingdom

Always happy to see examples of a symbiosis between my old world of Sweden and my new world of California. Such was the case when I had the honor of hosting a representative of the fascinating digital creative agency success factory North Kingdom in my Internet/Social Media Marketing class at Chapman University. During an enlightening presentation, Daniel Ilić, who heads up the US operation and serves as the Executive Creative Director and Partner of North Kingdom, shone a light on what makes up their culture and explained how it helps them produce world-class digital content and experiences for top brands such as Disney, Google, Beats by Dre, Netflix, Lucasfilm, UFC, Toyota, Volvo, LG Electronics, McDonald's, and Lego. During Daniel's presentation, some themes of the North Kingdom culture emerged and they were very consistent with the picture painted by Daniel's predecessor in the US, Mr. Jakob Nylund, who helped prepare our Business in Scandinavia MBA travel group what a Scandinavian business culture is all about a couple of years ago.

A Frozen Land Breeds Remarkable Creativity

North Kingdom was founded in the city of Skellefteå in Västerbotten County up in northern Sweden. During the long, cold, and dark winters, not everyone could play for Skellefteå AIK, the team that has completely dominated Swedish elite hockey over the last decade. Nor could everyone achieve international pop success like legendary Skellefteå bands The Wannadies, This Perfect Day, or The Drowners (all contemporaries by the way of my brother David Myhr‘s band The Merrymakers). Left over were some childhood friends who bonded in the Skellefteå AIK youth soccer team before forming North Kingdom where they eventually found an outlet for their own form of creativity in helping international brands create unique digital experiences.

Just like my own hometown of Piteå in Norrbotten County an hour north, Skellefteå is part of what is now marketed as Swedish Lapland as creative entrepreneurs have turned ice cold winters from a liability to a treasure. You can achieve global awareness and attract international visitors with the icy offerings such as the ICEHOTEL, northern lights, dogsledding, igloo weekends, or with Japanese-style “Yukigassen” snowball fights. Even Facebook found that frozen is golden as they established its first major data center up in the city of Luleå partially thanks to the fact that the cold climate reduces the costs of cooling the data server halls. Now other international brands such as BMW Group has also found its way to “The Node Pole” at the Fortlax Data Center in Piteå founded by my friend Anders Berglund.

A Nomad's perspectiveBy still having the bulk of their operations based up in Skellefteå, North Kingdom, mainly serving international clients, always comes in as an outsider and thereby is in a better position to see things differently than people inside a bubble would. “A nomad's perspective is always different” as Daniel expressed it.

Daniel Ilić also stressed that the winter darkness gives you creative opportunities simply because the mere thought that a small company up in arctic Sweden could compete and do business with global brands is so absurd that it spurs people up there in the cold darkness to come up with some really crazy ideas and to experiment with studid things that sometimes turn out to be quite remarkable. And that, remarkability, is exactly what is in short supply in an age when being different is a requirement to catch the attention of people in an ocean of sameness. “Safe is risky,” and bad or even bizarre ideas are what you need to get your ideas to spread as Seth Godin emphasized in a TED Talk.

Cultural Traits of Curiosity and Courage

North Kingdom Culture Curiosity Courage Nyfikenhet ModI specifically asked Daniel Ilić to share not only some digital communication insights and expertise but also to teach my students at least two words of Swedish. The two words he chose, “nyfikenhet” (curiosity) and “mod” (courage) turned out to perfectly capture the essence of the cultural traits that beyond the cold climate help explain why this small Swedish firm of North Kingdom has been able to acheive such astounding and award-winning success at the Cannes Lions Festival, etc.

Nobody gets hired by North Kingdom unless they can demonstrate an insatiable curiosity, i.e., they are motivated by their “nyfikenhet” constantly searching for new insights, inspiration, and knowledge and then people share what they have learned by teaching others. Teaching is highly valued and one of the founders, David Eriksson, is a former High School teacher.

Curiosity also helps North Kingdom learn from the customers with more intent by listening more carefully and trying to understand what their real issues are. Sometimes, this means speaking to the customers for hours on the phone mainly letting the client let off some steam about what is going on in their worlds.

Daniel Ilić, North Kingdom at Chapman University 3When it comes to courage or “mod,” Daniel means that staff get emboldened by an extremely supportive team spirit that characterizes North Kingdom. People feel that they can stretch the envelope with out-of-the-box ideas as discussed above as they work collaboratively in teams getting instant feedback and where they constantly spur each other on. Gone are the days when creative agency work was done in siloed departments of single-area specialists and North Kingdom seems to have found the formula for team-based success.

Scandinavian Hours and Vacation

Daniel Ilić, North Kingdom at Chapman University 2Finally, Daniel Ilić, explained how he worked hard to maintain a Swedish managerial style even as he heads up the US subsidiary. For example, if he finds someone working in the office at 6:30 pm, he kicks them out asking them what they are still doing there, that they should be going home and that he should join them on the way out! Similarly, the Swedish minimum vacations of five or six weeks are also “enforced” 🙂 In the end, healthy and happy employees are better and more creative employees. Which reminds me, I should go to bed now, so good night!

Filed Under: Chapman University, Digital Marketing, Featured2, Marketing, Scandinavia, Social Media, Sweden

Social Content Marketing Talk and Master Class in Gothenburg

January 26, 2016 by Niklas Myhr Leave a Comment

Niklas Myhr, Social Content Marketing keynote, KNTNT
Niklas Myhr keynote on Social Content Marketing at KNTNT
Niklas Myhr, Social Content Marketing keynote, KNTNT
View from stage

Enjoyed quite the whirlwind day yesterday when I paid a visit to Gothenburg on Sweden’s “left coast” and had a busy program together with my good friends and hospitable local hosts Pia and Thomas of KNTNT. Under the heading Social Content Marketing, I spoke to a full house of 180 attendees for a breakfast talk and then taught a full-day Content Marketing Master Class to a high-caliber group of marketing communications managers, consultants, and executives.

Niklas Myhr and Frida Boisen at KNTNT
Niklas Myhr and Frida Boisen at KNTNT

Digital Success Principles with Frida Boisen

I was also very pleased that we were able to bring in two intriguing guest appearances. Leading Swedish social media expert Frida Boisen shared perspectives on how content can catch fire on social media and she particularly stressed the importance of bringing in the emotional element of communication for people to care. This and more can be found in her best-selling book Digital Succé, check it out 🙂

Content Marketing Success with Mark W Schaefer

Mark Schaefer, Content Marketing Master Class, KNTNT, Gothenburg, Niklas Myhr
Mark Schaefer guest in Content Marketing Master Class

In the afternoon Swedish time, international content marketing thought leader Mark W. Schaefer joined us for a virtual session from Knoxville, Tennessee, during which he shared the thesis he presents in his groundbreaking book The Content Code. He stressed the importance of nurturing your so-called Alpha Audience, the relatively few followers you have who are regularly sharing your content. In fact, Mark Schaefer suggests that may be doomed if you do not start worrying more about taking good care of these ambassadors as their trust and ambassadorship may be the most valuable asset you have as competition for attention will only get worse. He cited an estimate that by year 2020, the amount of content will go up another five times from today's already crowded web.

Social Media Marketing vs. Content Marketing

KNTNT Radio podcast, Thomas Barregren, Pia Tegborg, Niklas Myhr
KNTNT Radio podcast interview by Thomas Barregren and Pia Tegborg

It is not surprising that it is challenging to discuss the interrelationship between social media marketing and content marketing as both terms are relatively undefined and are also undergoing changes in terms of how they are understood over time. That being said, social media marketing encompasses communications across a wide variety of social networks and stresses the interactive nature of communications amongst a group of people whereas content marketing takes as its point of departure a piece of content that should fulfill a number of criteria such as adding value and driving profitable customer action, albeit indirectly. This is the definition of content marketing that I used in my presentation:

“Content marketing is the strategic marketing approach of creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defined audience – with the objective of driving profitable customer action.”

– Joe Pulizzi, Content Marketing Institute

Content Marketers becoming Professors

One aspect of content marketing that many struggle with is the extent to which they can talk about their own products and solutions in their content. While I am not going so far as saying that you are not allowed to mention your own product in your content marketing, the most effective content marketers seem to stay away from it to the largest extent possible. As a marketing professor, I have noted how content marketers are communicating and behaving more and more as professors these days as they are adding value to prospective and existing customers by teaching them ways to solve their problems irrespective of specific product purchases. It is best illustrated by the quote by Jon Ferrara of Nimble when he said:

If you teach people to fish, they’ll figure out you sell fishing poles.

– Jon Ferrara

During the day, I covered four areas in which social media marketing and content marketing are interdependent and discussed how each can benefit from the other:

  1. Social Content Marketing, Niklas Myhr, The Social Media Professor
    Social Content Marketing

    Listening on Social Media for Content Marketing Ideas. What are the questions they ask on social media? On what platforms do they search for information? What are their frustrations?

  2. Connecting to an audience suitable to your business using relevant content. By offering content that is particularly valuable to your target market, you can both attract the right type of audience to connect with you and identify themselves such as giving you their email address at the same time as you may even repel the wrong type of audience that sees little interest in the content that you offer.
  3. Chapman University gradutate Filip Westlander, Josefine Berglund, Per Ericson
    With recent Chapman University grad Filip Westlander, his girlfriend Josefine Berglund, and my cousin Per Ericson

    Engaging. How can you get your followers to not only consume but also share your content on their social media platforms?

  4. Creating. How can you motivate your followers to contribute their content for you to use on your platforms?

So, have you wondered about the relationship between social media marketing and content marketing? I am curious to learn about your thoughts and experiences so please let me know in the comments below!

Frida Boisen guest in Content Marketing Master Class, KNTNT, Niklas Myhr
Frida Boisen's guest lecture during my Content Marketing Master Class
The Myhr Family, Piteå, Sweden, KNTNT, Niklas Myhr
The Myhr Family back in the Piteå days (me with blue pants)
With KNTNT team Thomas Barregren, Pia Tegborg, Fabian Sörqvist
Thanks to the KNTNT team of Thomas Barregren, Pia Tegborg, and Fabian Sörqvist

Filed Under: Content Marketing, Digital Marketing, Featured2, Scandinavia, Social Media, Speaking, Sweden Tagged With: Featured

Taco Bell Stretching the Digital Comfort Zone with Tressie Lieberman

March 30, 2015 by Niklas Myhr Leave a Comment

Niklas Myhr and Tressie Lieberman at Chapman UniversityIntense curiosity and a willingness to take risks. Those are two requirements to be successful,  at least for Tressie Lieberman, Director of Digital and Social Marketing at Taco Bell. She came to share her perspectives with my MBA class in Social Media Marketing at Chapman University and the students were treated to a full menu of examples of how Taco Bell under her direction embraces new platforms such as Snapchat and Instagram with real-time marketing while also balancing legal and organizational considerations.

“I actually get nervous if I haven’t been nervous for a while” – Tressie Lieberman

Experimentation is key and instead of buying research data, the best research they do is in the form of the real-time feedback they get from launching initiatives and adjusting as they move along. Internally, she emphasized how critical it has been for their success with digital efforts to educate and provide reverse mentoring programs internally to get executive buy-in. For example, she spent four hours with the CEO showing her everything starting out with her personal accounts to provide a full picture of how consumers can interact with the brand.

Tressie Lieberman at Chapman University 5

To make it possible to have real-time conversations, Tressie Lieberman talked about how she had managed to reduce the bureaucracy needed for various initiatives on social media at the same time as she wants to clearly identify what they cannot do as they don't want to get in trouble which could stop all initiatives online.

Tressie Lieberman at Chapman University 3“Don't ever let the lack of a budget hold you back from doing something really cool” – Tressie Lieberman

Taco Bell launched a new app by doing a social media blackout so it looked as if they had zero presence on all networks that day. Also, mobile ordering they launched nationwide day one as opposed to doing a gradual rollout.

This all made for higher levels of social conversations about the brand and people started talking about the app. They broke through the clutter of 1,2 million apps and became a top app almost instantaneously.

Tressie Lieberman at Chapman University 1In conclusion, Tressie Lieberman says it is the best time to be in marketing and working in digital is like working like a change agent and is very rewarding career choice. Also, it keeps her on her toes as “you are only as good as your last week.”

Filed Under: Chapman University, Digital Marketing, Social Media

My Vote for The Business Podcast of the Year: Smart Passive Income

March 12, 2015 by Niklas Myhr Leave a Comment

SPI Smart Passive Income with Pat Flynn2015 is turning out to be yet another “Year of the Podcast” and while I am myself still procrastinating the launch of my own podcast (any week now…), I very much enjoy listening to the podcasts of others during my daily walks with our Goldendoodle Simona (pictured below!).

In addition to following podcasts on social media and digital marketing, I have also been “glued” to the Serial podcast (good luck with your appeal Adnan Syed!) and picked up the Swedish hit interview series “Värvet” now also available in an English-speaking version Varvet Intl.

What I have not done enough of to date, however, is to help spread the word about the podcasts that I recommend others tune into and today marks a particularly timely occasion to start doing more of that. The situation is that one of my favorite podcasters, Pat Flynn of Smart Passive Income, is yet again up for a Business Podcast of the Year award. (Beyond the To-Do List by Eric Fisher is another great one amongst the finalists by the way!)

So, why do I think that Pat Flynn is most deserving of this award? For starters, he is generous and transparent with his audience about sharing both his successses (many!) and failures as he conducts a rather impressive series of experiments with his own online entrepreneurial ventures. He even calls himself the “crash test dummy of online business.”

In addition, he features an intriguing list of guests on his show that includes not only the “big names” but also people you've never heard of. Using this approach, Pat effectively illustrates how a varied set of small businesses, solopreneurs, and part-time entrepreneurs can achieve impressive results both cost-effectively and in relatively short order. Through his disarming charm and curious attitude, Pat manages to get guests to open up more than on the average podcast to the benefit of listeners such as me that stands to learn from their experiences.

Niklas Myhr & Pat Flynn at Social Media Marketing World 2014
Niklas Myhr & Pat Flynn at Social Media Marketing World 2014

Tips and tactics shared on Smart Passive Income revolve around how you can best leverage tools, time, and resources for maximum impact and value to the communities you serve. He shares his favorite tools, explains how he uses his time and experiments with his morning routine, and increasingly Pat also includes discussions about how you can scale up a small business through the use of outsourcing without losing the human touch. In this last respect, Pat has been inspired by his best buddy Chris Ducker, the Virtual CEO and author of the eye-opening and best-selling book Virtual Freedom.

There is no doubt that sales and marketing is undergoing a radical transformation fueled by increasingly powerful new technologies and platforms available at low cost and I think it is critical to stay up to date with what those opportunities are regardless of whether you are strive for a corporate life or enter into online entrepreneurship to some extent.

At least, I know that many of my students are looking at all the emerging technologies with a mixed sense of bewilderment and overwhelm and I don't hesitate to recommend they listen to Smart Passive Income for clarity and to get with the game. For corporate managers and executives, I also think it makes sense to learn what a new generation of online startups are up to as they and the companies they work for otherwise risk becoming obsolete unless they too become more responsive to the needs of clients and adopt some of the same tools, principles and strategies as those discussed on Smart Passive Income.

So, if you are not convinced yet that Smart Passive Income is a podcast deserving of your vote as Podcast of the Year, please give it a chance and listen to some episodes first and I think that you'll come around 🙂 Thanks Pat for all the good work that you do that also undoubtedly also helps me stay up-to-date and relevant as a Social Media Professor. I am also looking forward to seeing you and Chris Ducker and learning more about this exciting time of online business and entrepreneurship that we are living in at the 1-Day Business Breakthrough event in San Diego on April 24!

Simona at her lookout post.

A photo posted by Niklas Myhr (@niklasmyhr) on Mar 5, 2015 at 7:31am PST

Filed Under: Digital Marketing, Entrepreneurship, Marketing Tagged With: chris ducker, pat flynn, podcasts

The Marketing Concept Sliding Down the Long Tail of Marketing

March 10, 2015 by Niklas Myhr Leave a Comment

The Long Tail of MarketingIn the history of marketing, Peter Drucker's Marketing Concept of 1955 is a milestone. The statement that “the purpose of a business is to create and keep a customer” served as an eye-opener to many executives and helped transform many businesses as a result. Consistent with this perspective, Theodore Levitt published the classic Harvard Business Review article Marketing Myopia in 1960 in which he claimed that businesses should define themselves more in terms of the needs that they were satisfying rather than by the product that they currently made.

This has impacted the naming of companies and the general wisdom is to not name a company after its current product as the means by which you meet customer needs can change over time. Indeed, it is difficult to find more than a few (e.g., Nescafé, MasterCard, and MTV) out of the 100 Best Global Brands of 2014 with a name that directly hints at specific products.

Also, if you have already painted yourself into a product corner that you are feeling is becoming too constrictive, look at ways by which you can become more vague or flexible going forward. Hence, International Business Machines became IBM, Kentucky Fried Chicken started going by KFC, Citibank switched into Citi, and Apple Computer Inc turned into Apple Inc.

Yet, even as I recognize the benefits for many companies if they follow such advice, sometimes I wonder if product-centric names aren't making somewhat of a comeback? I see that companies with a name that specifically matches what someone searches for on Google, can be very successful selling their wares online.

For small businesses to show up high on Google, they often have to resort to so-called long-tail strategies, the idea pioneered by TED founder Chris Anderson. What I also have seen is the phenomenon of companies buying up not just one but multiple domain names. In fact, I visited a firm here in Orange County recently and learned that they operated four different websites under very different names but all four basically led people to the same company and address.

Some businesses are taking this one step further and launch perhaps hundreds of different websites each of which is customized to a precisely defined target market and the searches they are likely to make. The more specific you become, such as through the use of 3 or 4-word keywords, the more likely it also becomes that you will be found by people searching for that more specific term. I recognize that many such websites that are set up are not company names per se but rather they represent product pages but still, building up a product-specific web property could also become limiting after a while.

Regardless, my sense is that emerging long-tail tactics in digital marketing indeed can work to your advantage but a key factor is the degree to which you make fixed investments in the form of time and money spent on each of your many different websites. If that amount is low, you could readily change your mix of product pages and transition to new product categories as needs change. Many products are indeed meant to be temporary and corresponding microsites that are set up do not require substantial resource investments.

The potential downside of using product-centric names is still that you are not building a brand for the long haul if the whole product category risks becoming obsolete or if you would like to include other products in your offering over time. So, what do you think? Would you prefer to build a website using product-specific phrases like Air France or would you rather call yourself McDonald's?

Filed Under: Marketing, Digital Marketing

On Stage with Gary Vaynerchuk

May 11, 2012 by Niklas Myhr 4 Comments


At the Nordic eCommerce Summit 2012 in Stockholm, Sweden, I served on a panel interviewing Gary Vaynerchuk on his take on the value of social media for ecommerce with subtopics such as social commerce, the dying middleman, and personal branding. Please check out the video!

Filed Under: Digital Marketing, Entrepreneurship, Marketing, Social Media, Speaking, Sweden Tagged With: ecommerce, gary vaynerchuk

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