CK's Blog

Yo BtoB, Where's the Share? (PDF goodie inside)

In November 2006 I riddled on The "Share Economy" as the concept just rang so true as to what drives the 2.0 era (and because I'm fond of riddling ;-). It fascinated me so much that I wrote on the concept for my chapter in The Age of Conversation collaborative book.

Here's the concept in a nutshell: in racing to define this new era, pundits and professionals have been coining catchphrases ranging from the "knowledge economy" and the "innovation era" to the "conversation age." But, from where do knowledge, innovation and conversation stem? The answer rests in sharing: individuals actively and openly sharing information, insights and ideas with others. 

Therefore, the exchanging of ideas--how freely they're traded, how dynamically they spread, and the new ideas they inspire--is most aptly and accurately labeled "The Share Economy."

At first I was more 'consumer' focused when writing on the concept. But, as time marched on, I became ever more perplexed as to why the majority of BtoB marketers have been so slow to move on the tremendous opportunities of this medium... as BtoC marketers have been much more involved in the social media space (social media 'race'?). 

As I've written many times, I'm not at all of the mind that all companies need to blog. But I am most definitely of the (marketing) mind that all companies should be listening (see post & PDF on that front here).

Why? Because when our markets are talking--be it about our company, a competitive company, a need, or a new idea--they're doing us a tremendous favor. What's more? They're making our jobs much easier and far less precarious.

Listening qualifies as research and the core reason for research is to "reduce uncertainty"...but listening to online conversations is also a great way to identify new opportunities (reward) and gauge customer satisfaction levels (risk).

Now, along with being a fan of listening, I'm a (huge!) fan of creating value and facilitating idea exchanges--and all of these principles apply to BtoB's use of social media. Think about it for a moment...if I, as a consumer, am more likely to buy an MP3 for ninety-nine cents or a marketing book for nineteen dollars due to its high value being recommended to me by trustworthy sources (other professionals)...then it follows that I, as a professional, am going to be much more apt to invest in a nine thousand, or ninety-nine thousand dollar solution that has been authentically recommended or discussed when I'm looking to make such investments for my business.

Ergo, with purchases small and BIG, a real-world recommendation is most valuable when it comes to purchasing motivators and purchase decisions.

Yes, it's key to ensure these recommendations are authentic--and it's really easy to tell the difference when they're mock posts or seeded sales recommendations. But what is more key is that business professionals do not act differently than consumers. People do not step out of their cars after a long day at work, remove their "business hats" and put on "consumer hats" (but it would sure be silly if they did, eh?). Sure, they have different responsibilities and accountabilities when at work then when at play--and they need to look at purchases rationally, not just emotionally--but they follow the same habits of trusting "like people" more than "sales people" when making a consumer or a business purchase.

Sure, the businesses selling the offerings are going to regale their greatness ("For your dough, we're the best darn bread since sliced bread!"). But professionals, just like consumers, want to hear how great it is from people who've used the product and, moreover, from people who don't profit from recommending it. And that applies to any industry, be it communications, cars or construction equipment.

Net net: all this talk (sharing!) leads to a whole lotta purchasing action...and a heaping load of opportunity for BtoB marketers.

So, why oh why aren't more BtoB marketers hip to these opportunities? It could be skepticism, it could be fear, it could be inertia. Or it could just be that more of them need to better understand The Share Economy. And that's where this piece comes in. It's longer than a post, much shorter than a book. I'm hoping it will provide some rationale and reward for BtoB companies to open up to the opportunities and I'm also hoping it teaches best practices, too. (Psst: these best practices are as 'Marketing 101' as they are 'Web 2.0'.)

And, since I'm sharing this piece with clients and colleagues, I also want to share it with you (um, get the "share" theme?). It's located right here. Enjoy!

PS: a treasure trove of "social media goodies" that are yours for the taking are right here in this section. Look for more goodies to be added soon, too. Why? Because I like creating pieces that communicate best practices....and because I like sharing them with good people. That's why ;-).

A promise begets a promotion

I really enjoy using this medium to share ideas, be it promoting others through posts, giving advice through comments or contributing ideas that another might not have thought of (but might just help them). There are several ways we can spread ideas to help each other collectively...and individually.

Sometimes you need to nudge an idea forward; get a little silly. No worries, I've certainly been my share of zany when the occasion calls. Hey, whatever energizes people and gets the job done. Which brings me to a post I published in early December...

Reading Drew McLellan's blog I noticed that, while on vacation in Disney World, he penned a nifty eight-part series aptly titled "Marketing Lessons from Walt". The series ranged a bevy of best practices in succinct, fun posts that, according to Drew, captured "some of the marketing genius that I believe began with Walt's passion and has now grown into one of the world's most powerful brands." The series provided Drew an opportunity to delight clients and prospects with some truly unique thought leadership...but with one BIG problem.

You see, the posts were already creeping into his blog's archives. And let's face it: 90% of the industry just isn't reading blogs yet, and not at all regularly. Being that Drew is such a fan of "all things Walt Disney" and put so much heart and thought into the series it warranted more care--and far more coverage.  I saw that as a problem...but a problem is just an opportunity in disguise (or, in ears).

So I penned a post promoting the series, suggested an epiphany and posed a proposition: if Drew would spend the time--and the design bucks--to repackage the content into a formal, transferable format, I would help him promote it. The nudge? If he would get me some ears I would wear them proudly and post the evidence HERE on my blog--AND on my MySpace page.

That smart marketer called my bluff. A promise is a promise (and this girl keeps her promises)...

So here I am in all my glory with my one-of-a-kind ears for all the 'sphere to see (just click the pic for larger mug and ears). Drew even honored my request and had them custom-stitch "marketeer" on the ears for me. Truth be told I didn't promise the red bows; they just felt right. Do have fun laughing at me but definitely enjoy the great read that Drew threw his heart and soul into compiling for us. There's a gem in every segment of the series. Ears not included.

P.S. While I find them fitting given the spirit of the shot my mom thinks ponytails are too unprofessional for a businesswoman. To which I reminded her it was a pic of me wearing mouse ears.  She maintains her position.

P.P.S.: Thanks to Gavin for penning a unique angle to this story on using your ears to really listen; it's here.

P.P.P.S: Cam at Chaos Scenario has penned a thoughtful post on Disney's Brand Magic that inspires child-like enthusiasm (told from the viewpoint of his child's experience ). If you thought the pics here were good...go check out the cutie on his blog.

Let's focus on SHARE...not size.

According to the powers-that-be, I'm a "C-List" blogger. Wrong. I'm clearly a "CK-List Blogger" (duh!).  You see, this list shows how much authority I hold--or in my case, don't hold. But I'm only 9 blog links away from being a more authoritative B-Lister. Power is so close...yet so far away. Sigh.

The thing is, I view power as a collective force and fancy it being spread around, or shared. Don't kid yourelf: share unites us, rankings such as these serve to divide us. Less into size, I'm far more focused on share, as in:

• How much does your blog share with your audience?
• How much do you share in the conversation at other blogs?
• How much are you furthering this medium?
• How are you using social media to promote ethical standards?

If you share, you're on my A+ List. So in this Share Economy, size doesn't matter...aren't you glad to hear THAT from a woman?

Not for nothin', the ONLY reason I've even made it to the C-List is because I shared this goodie and scores of blogs picked it up. I didn't do it for that reason...but share begets share. And the best thing about it? I now have new relationships with great blogs--and bloggers--and the piece shares the love by linking to everyone that shared in its creation--and I'm still inviting more to participate.

Now that's the kind of power that's just, well, empowering.

P.S.: Thanks to Kineda's blog for letting me share my view on this--and for making the graphic pink!

P.P.S.: I have a groovy new program based on knowledge share...and it lauches in little over a week. Sorry I can't yet share it. Soon.

Riddling left, right and center.

Riddle me this, readers: What's this so-called, newer-than-new-media, Web. 2.0 economy best called?  It's sure called a lot of things, eh?

We've been knocking around the "knowledge" economy, "innovation" economy, "creative" economy, "social" economy, "experience" economy and the "idea" economy. But where do knowledge, innovation, creativity, experiences, socializing and ideas stem from? What action--er, uh, interaction--fuels this fervor?

• It's Share. Yep, it's "The Share Economy". Can't really get smart, creative, social , innovative or otherwise without a whole lotta share. Do wish I could take credit for this gem, but I can't. It was Vaspers who threw it over to me in an e-mail months back and I've been singing it ever since.

This riddle ain't finished yet. Not even close.

So...what's the cost-of-entry to this Share Economy? Money? Nope. Power? Nah. Popularity? Negative. Fame? No way.

• It's Contribution. Whether you contribute: open-source software, smarts, new tools, tech, content, methods or best practices, contribution is your key to the hearts and minds of this medium.

Moving right along, then.

And what's the currency of this new media? Information? Ideas? Lots of links?

• It's Trust (just trust me on this one). Whether you're brand or being, you have to earn trust...in fact you must be worthy of it. Sure, you can have fans, but you can't build meaningful relationships--or respected brands--without first building trust with your audience.

Still with me? Cuz there's more still.

So what do we call the people in this new economy? Consumers? Not. Producers? Not always.

• We're Participants. At least that's the closest one I can find to fit the bill. I liked Ben and Jackie's idea of "Participatory Economy" but Share Economy rang supreme with me, however, insofar as people, "participants" rang right.

Almost there--just not quite.

And what's lies at the core of this era's core value proposition? What, above all else, are we more NOW than we were BEFORE? Smarter? Closer? Richer? Thinner? Yes, yes, probably not and not likely due to sitting on our butts blogging so darn much.

• What we are is Empowered. I've often said it's the Empowerment Era (but in order to not confuse clients or colleagues I'm trying to stick to Share Economy). They say there's a revolution, a disruption, a change...I don't think any of these things happen without new power being given to where/whom it wasn't before.

Done riddling, but not done sharing...matter o' fact, I have a program launching very shortly that's all about share, baby. Can you guess what it is? Here's a hint: the answer is hidden in the riddle (sorta).