May 10, 2008

Business And Blogging: Trust, Community Building & Profits


First I want to thank Liz Strauss and Terry Starbucker for putting on a wonderful and enlightening event SOBCon08–Business School For Bloggers. Liz, I now know why I came to the event. Thanks for inviting me.

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How do you merge successful business practices with successful blogging practices? Can it be done?

I think so…

One week ago, I was in Chicago attending a blogging conference. What I learned there will change the way that do business from here forward.

In a 48 hour period, I was introduced to some of the most influential bloggers on the planet. What a rush!

This is a whole new world for business development. It is about creating community, building trust and establishing real value in the marketplace with information alone. The Internet has changed so much in the last decade. It went from the promise of the information superhighway. To now a social meeting place for people to interact with each other.

Back to business …

Businesses want community.  Businesses want relationships. Businesses want to instill trust so that people can and will transact with them.

But the words trust and profit usually can't be spoken in the same sentence. There is something about selling, marketing and promotion that raises a flag within all of us. Why is that?

As I've been pondering this question for the last week, I've come to few conclusions that may help me to move forward in the marketplace.

Business Blogging Idea#1: People love to buy but don't like to be sold to. This is an age-old concept. 

How many times do we find ourselves selling something that people don't want. What do we get?  Opt-outs and unsubscribes.

That is the problem with irresponsible marketing and promotion.

The idea of “tell everybody some will stick” will actually damage your identity the marketplace, if you're not careful.

We assume that people want what we are selling. That is not always the case. Just because we are in a community or have a list does not mean that those on the list want, need or can afford what we're promoting. Be respectful of this fact and know that that is true in every marketplace.

Segmentation is key. Who are you talking to and what is of interest to them? They are the center of the transaction not you.

The key here is just ask. And, I mean just that. There is no need to put the hard sell on everybody. When I promote to my list, which is not often at all. I sometimes say,  “if you are interested in this, here is information.” That is it. No hard sell, no push. People can smell sales. And people can sense the hard sell. On the other hand, if your information is good, unique and scarce people know it and will want more of it. Your job is to position it and frame it the right way.

Business Blogging Idea#2: Make your intentions known.

If you are trying to make a profit and running a business. Say so and make it obvious. When you walk into a hardware store is obvious that you are not getting out the hardware store with any good or service without paying for it.

On the Internet, there is this idea that everything should be free. That is just not the case. Any idea that you want (not need) to increase your happiness, improve income or handle your health is valuable to you. And most people are willing to pay for something that they value.

Everything that we buy. Starts with an idea. And then it grows into something that you can put your hands on. And this is true of everything.

Know that this is the case and don't be afraid to put a value on your information or your products and let people know that you are willing and intend to exchange your value for money, if they are willing to exchange with you. Everything can’t be free.

A Side Note:

Why is it no one gets upset when we pay a dollar for soft drink at a restaurant. The drink itself costs pennies to produce. But yet we gladly pay a dollar. But as soon as we put a value on our ideas, information or product we get upset and manifest this by devaluing it in our own eyes.(face it, we do) and the people that were offering it to get upset because we are offering “our stuff” for money. Why is that? Either they want it or they don’t either they are going to buy it or they are not. There is no maybe here. It is what is it.

Nothing on this planet moves without the exchange. Yet, it is the promotion of the exchange that upsets us (buyer and sellers) so.

End Side Note:

Business Blogging Idea#3: Build the community, the relationships, and trust first.

At the blogging conference, I noticed something.  Professional bloggers know how to build communities, build trust and create wonderful relationships online. Sometimes never meeting the people that they touch, and yet, still building meaningful relationships that can last a lifetime.

This is what every business owner wants to have. A following of lifetime and loyal customers that would not think of buying a particular product or service from anyone else. Why is it so hard for business owners to create this type of environment for their customers.  There are a few reasons that I see.

#1: Miscommunicated expectations. Does your product and service do what the customer expected. If your product or service is a very simple thing, this is not a problem. But as soon as you have several moving parts and many people involved expectations can spiral out of control. Be mindful of this.

#2: People have different value structures. What is valuable for me may not be valuable to you. Some people don't have any value ideas. Some people value family more than money. Some people crave the excitement of travel. Some people love fashion. Let's face it. People care about different stuff. Your goal is to find out how you are valuable to others. And then “be that value”.

So those are my three main ideas. I've learned a lot more. I’ll be blogging about it as I am able to articulate those things.

So what you think? How can the ideas that monetize a business be incorporated with the ideas that create a successful blog.

Til next time,

David Bullock

Here’s some of the bloggers that I met. They are fantastic and business owners could learn alot from them: (Thanks Guys…)

 

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9 Comments »

May 10, 2008

Chris Cree :

David, Seems like your last point is the trickiest one to get through. Navigating the mine field of divergent value systems is probably what intimidates me most about any time of selling situation.

AmyL :

And thank YOU, David, for coming to speak to us. I didn't get a chance to chat with you personally, but truly enjoyed listening and wish we had had more time to learn from you. You may not have known why you were there, but it became very obvious to your audience quickly. I look forward to reading more posts from you as you explore community building online. And I look forward to learning how to incorporate your teaching into my own blogging experience.

Hello David.

I totally agree when you say that make it obvious in the beginning if you mean to promote business. Most of the people get turned off when something "free" is offered to them and then they find they have to pay. Selling is not bad, backdoor selling is.

@Chris Cree.

I hear you loud and clear. When you are selling "you" or your IP, it is very easy to miss on the assessment of value. I find that it is up to me to set the exchange for the value and let the customer client decide if my value assessment matches theirs.

For example - A car can cost $500 or $500,000. But, at the end of the day it is an engine and tires that move around. And further it is a pile of metal, plastic and rubber. At the metal, plastic and rubber level, it is not valued much. But it is still a "car" just in a different form. I think the key for placing value is really illustrating the "unseen" benefits - uncommon skills, speed to result, look and feel - these are the items that people really value but don't articulate. Hmm… this conversation, I see, could go deeper.

@ AmyL

I truly enjoyed the experience and more than that I learned about a world that I did not understand or even know about. The idea of true community building the right way for the long term is the idea that I am working to incorporate into my business model. These are exciting times for sure.

@ Amrit

Selling is not bad, backdoor selling is. - WOW. That sums it up very nicely.

"Backdoor selling" that is a new term for me. I like it.

Bait and Switch is what comes to mind for me in this situation. Either way - it leaves a mark of distrust for the buyer. I am finding that honesty is the best policy. Not only with others but with ourselves. The question of… "What am I trying to do and why" may be the most important question for all of us.

Thanks for continuing the thinking here….Take care,

David B.

May 12, 2008

Derek :

As someone coming from the blogging side without much experience on the business side, your points really ring true to me and I have seen this first-hand. With the variety of ways to make money on a blog, I've seen that the most success often comes when you are straight-forward with your community and do not try to make a pitch to them. Whether it be affiliate links, sponsored posts/reviews, or anything else, people appreciate honesty and transparency.

As Amy mentioned, I did not get a chance to speak with you either but your presentation has had a true impact on me. One thing that I took away was your point of owning your space, which I have had the pleasure of sharing with my children as well. Thank you David for being a part of SOBCon and sharing your wisdom with all of us, may it come back to you many times over.

David, It was so cool to meet you and everyone at SOBCon. I especially enjoyed our Twitter talk at the Loop. and your presentation of course!
As to monetizing. I think it all depends upon your core business. I don't even try to directly monetize my blog, but I do teach, speak and facilitate - and some of that comes as a result of my blog, and some of my blog comes from my experience in facilitating and speaking - a circle. I've also got a membership site starting for those who want to go deeper into my subject matter and explore the realms together of living with purpose and passion - especially in the workplace. So. after 5 blogs and 4 years, I've learned to do what you love and the money will follow. Geez. Shouldn't have someone mentioned that earlier in my life?

May 13, 2008

Barbara Rozgonyi :

Great to see you again and sit at the same table, David!

Thanks for building on your talk - posted my notes on your presentation here: http://tinyurl.com/6nrdu5.

I like the way you sign your posts - gives your readers an immediate contact option.

In answer to your question: How can the ideas that monetize a business be incorporated with the ideas that create a successful blog?

Maybe defining what makes a successful blog [to the blogger] is the first step: number of readers, comments, technorati ranking, inbound links, conversions, twitter mentions, bounce rate, keyword ranking, top search terms, affiliate revenue, referral sales, ad/sponsor income, media coverage, etc. - lots to consider here.

As always, you get me thinking!

 

@ Derek - Being honest about your intentions, I think, is the key to long term business. Wow… I am impacting children around the world. Never thought that would happen. Many thanks for your ideas…. I am thinking now about the line between business and community. Where is the line drawn and how can you successfully bridge the gap?

@ Michelle - True there are many ways to use and monetize a blog. You point is well taken. As a business owner, you have to decide how you are going to move in the space and how to use the assets that you have. Yes, a circle. It all fits together. If you allow it to fit.

@ Barbara - Good to see you again. And I hope to bump into you again soon. Thanks on the post signing. I always thought that the blog was where I could share. People do business with people. Hmmm…. what makes a successful blog… your criteria is a great start. This new world of blogging has really shifted my thinking. Thanks and see ya soon.

 

 

[…] On May 2-4, Liz Strauss hosted SOBCon08: Biz School for Bloggers in Chicago. During the sessions, I typed notes to share with you. To presenters and attendees: please feel free to clarify and comment. I will share notes from each session along with how I’m using the knowledge to improve my reader/customer experience. David recently posted his SOBCon08 business and blogging insights. […]

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