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	<title>TheMarketFarm.com &#187; value proposition</title>
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	<description>Cultivating sales channels. Monetizing content.</description>
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		<title>The time has passed for revenue-enhancing digital products</title>
		<link>http://www.themarketfarm.com/wordpress/2011/10/21/the-time-has-passed-for-revenue-enhancing-digital-products/</link>
		<comments>http://www.themarketfarm.com/wordpress/2011/10/21/the-time-has-passed-for-revenue-enhancing-digital-products/#comments</comments>
		<pubDate>Fri, 21 Oct 2011 13:41:44 +0000</pubDate>
		<dc:creator>Bob Rosenbaum</dc:creator>
				<category><![CDATA[Future of media]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[B2B]]></category>
		<category><![CDATA[business to business]]></category>
		<category><![CDATA[content]]></category>
		<category><![CDATA[e-media]]></category>
		<category><![CDATA[magazines]]></category>
		<category><![CDATA[paid content]]></category>
		<category><![CDATA[value proposition]]></category>

		<guid isPermaLink="false">http://www.themarketfarm.com/wordpress/?p=949</guid>
		<description><![CDATA[The opportunity to increase revenue by adding digital products has largely passed, and simply adding new products will probably hurt the business by spreading the editorial staff even thinner; raising digital development costs; over-running the sales force's competence; and stressing customers who will be forced to decide which products to support and which to ignore.]]></description>
			<content:encoded><![CDATA[<p>A small B2B media company contacted me to talk about enhancing revenue by adding some new digital products to its portfolio. The company already offers a digital edition, business directory, email newsletters, web-seminars and a number of other digital B2B staples. Non-monetized but just as important, it has a reasonable Twitter following, a large group on LinkedIn and a Facebook page that is basically just a placeholder.</p>
<p>I&#8217;m sure there are more products the company could implement. It doesn&#8217;t have any mobile offerings to speak of, and its website represents first-generation internet thinking – a source of information but not of engagement and interaction. With a little bit of study and a few billable hours I could have made some recommendations.</p>
<p>Here&#8217;s what I told them instead: The opportunity to increase revenue by adding digital products has largely passed, and simply adding new products will probably hurt the business by:</p>
<ul>
<li> spreading the editorial staff even thinner;</li>
<li> raising digital development costs;</li>
<li> over-running the sales force&#8217;s competence;</li>
<li> stressing customers, who don&#8217;t have more money to spend on new products and will be forced to decide which products to support and which to ignore.</li>
</ul>
<p>In essence, trying to invigorate the company by adding more digital products is just going to lead to more fatigue for everyone – and at best provide only incremental revenue gains.</p>
<p>The real opportunity – and the only real option – is to use digital tools to increase the organization&#8217;s footprint and prominence.</p>
<p>Here&#8217;s the argument:</p>
<p>In B2B media, ad revenue and unit yields have been stagnant for a decade, and there is no reason to think that&#8217;s going to change for the better. As hard costs continue to rise, print circulations have been on a forced retreat. Publications that have maintained controlled circulation levels are doing so by cutting in other areas or – more likely – by winning market share and profits from other, lesser competitors. Neither is sustainable.</p>
<p>Given that it&#8217;s not economical to add print readers, the real value of a digital strategy is to present the brand to new people – either by expanding outside the magazine&#8217;s traditional market (taking a step upstream, toward the advertisers&#8217; suppliers, for example) or its traditional geography (i.e. international).</p>
<p>That doesn&#8217;t mean simply launching a digital or iPad edition. These are passive – cool media in Marshall McLuhan&#8217;s lexicon.</p>
<p>But extended audiences demand hot media. They need to be actively engaged; they need learn for themselves how a media brand is valuable to them. Engagement at that level means creating a different kind of relationship based on interaction with community, expansiveness of content, and flexibility in the way content is applied. These are the strengths of digital tools – when those tools are skillfully and strategically applied.</p>
<p>In the real world, it probably means a pretty significant website overhaul and, more significantly, redeployment of staff and restructuring of sales compensation.</p>
<p>Editors have to stop thinking in terms transferring knowledge from experts to the readers – instead becoming moment-to-moment conduits for peer-to-peer communication. Less like network news anchors and more like a highly specialized cruise directors.</p>
<p>Sales strategy has to evolve too. It&#8217;s less about products and more about platform – how the media brand provides a fluid and organic conduit between the advertiser and the market.</p>
<p>These are not small changes to make, and this is not a short-term project. But it represents the difference between relevance, growth and prosperity on one hand; and retreat into a niche position or extinction on the other.</p>
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		<title>So much to do that nothing gets done</title>
		<link>http://www.themarketfarm.com/wordpress/2011/05/04/so-much-to-do-that-nothing-gets-done/</link>
		<comments>http://www.themarketfarm.com/wordpress/2011/05/04/so-much-to-do-that-nothing-gets-done/#comments</comments>
		<pubDate>Wed, 04 May 2011 22:21:17 +0000</pubDate>
		<dc:creator>Bob Rosenbaum</dc:creator>
				<category><![CDATA[Marketing Strategy]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[social media]]></category>
		<category><![CDATA[value proposition]]></category>

		<guid isPermaLink="false">http://www.themarketfarm.com/wordpress/?p=931</guid>
		<description><![CDATA[Aside from being under-capitalized, marketing paralysis may be the most common affliction among small businesses. There is a lot to know about marketing and too many easy reasons not to get started. But marketing is now more accessible to small businesses than it's ever been. ]]></description>
			<content:encoded><![CDATA[<p>Many small business owners are not marketers. They&#8217;ll tell you as much.</p>
<p>People start their own business in order to do what they love and do well. Marketing becomes a necessary evil.</p>
<p>For many, writing is a chore. Or databases are a mystery. Or blogging takes too much time. Social media creates an uncomfortable blend between business and personal. Networking is superficial. Advertising is too expensive and doesn&#8217;t work quickly. Public relations is a crapshoot.</p>
<p>It&#8217;s altogether too time-consuming, too hard, too expensive. There&#8217;s so much marketing work to do that  nothing gets done. And it&#8217;s easy to justify, because word-of-mouth is the thing that works the best anyway. But word-of-mouth isn&#8217;t real marketing; it&#8217;s luck. And while I&#8217;d rather be lucky the good, the real winners are both.</p>
<p>Aside from being under-capitalized, marketing paralysis may be the most  common affliction among small businesses. There is a lot to know about marketing and too many  easy reasons not to get started.</p>
<p>But marketing is now more accessible to small businesses than it&#8217;s ever been. Marketing rarely comes for free, but it&#8217;s possible to start marketing seriously without risking thousands of dollars like you had to do 10 years ago.</p>
<p>So here&#8217;s an idea: Try one thing. Instead of getting overwhelmed by all there is to learn about marketing, try choosing one marketing activity and focusing on it until you&#8217;re proficient – or at least comfortable.</p>
<p>What should you do first? I&#8217;d advise doing the activity that interests you most; you&#8217;re more likely to find the joy in mastering it.</p>
<p>But if you insist on being pointed in the right direction, swallow your pride and jump onto Facebook. Why? It&#8217;s a tool that can allow you to reach 1 out of 2 people in the United States – for free. If you coughed up $3 million to advertise on the Superbowl you wouldn&#8217;t reach that many people. Facebook is, simply,<a href="http://www.digitalbuzzblog.com/facebook-statistics-stats-facts-2011/"> the largest media outlet in the world</a>. And you can get started without spending a nickel.</p>
<p>What do you do on Facebook? Start by building a profile for your company, and then explore and experiment. We can discuss it in more detail another time. What&#8217;s important is that you do something. Anything.</p>
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		<title>Buy good equipment; take good care of it</title>
		<link>http://www.themarketfarm.com/wordpress/2011/01/15/buy-good-equipment-and-take-good-care-of-it/</link>
		<comments>http://www.themarketfarm.com/wordpress/2011/01/15/buy-good-equipment-and-take-good-care-of-it/#comments</comments>
		<pubDate>Sat, 15 Jan 2011 17:22:50 +0000</pubDate>
		<dc:creator>Bob Rosenbaum</dc:creator>
				<category><![CDATA[Bob's Happygood Funny Blog]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[short stuff]]></category>
		<category><![CDATA[value proposition]]></category>

		<guid isPermaLink="false">http://www.themarketfarm.com/wordpress/?p=900</guid>
		<description><![CDATA[Here are some tools and equipment to which the Rule of Hard Goods and Corollary apply:
    * Computer printer
    * Power tools (A drill shouldn't drill just some stuff. For an extra $60 you can get a drill to drill any stuff. That'll amortize to about $1.50 anytime you need to drill something really hard over the next 10 years)...

]]></description>
			<content:encoded><![CDATA[<p>Call this Rule #1 for life. Maybe it&#8217;s not the most important rule; it&#8217;s not the <a href="http://en.wikipedia.org/wiki/The_Golden_Rule">Golden Rule</a> or even the <a href="http://en.wikipedia.org/wiki/Rule_of_72">Rule of 72</a>.</p>
<p>Let&#8217;s call it the<span style="color: #339966;"><strong> Hard Goods Rul</strong></span>e: Buy good equipment and take good care of it.</p>
<p>Nothing provides better affirmation and aids in a better outloook than moving through the details of the day with equipment that works easily, well and with the rarest of failure.</p>
<p>If you need to buy a printer for your office, don&#8217;t settle for the $25 model that comes along as a premium with your computer. I&#8217;ve learned that lesson too many times. Go out and spend what you it takes to buy a durable, solid printer that runs and runs. Buy the features you need and just pay the price. If you find yourself leaning toward a cheap compromise, imagine yourself being late out the door and suddenly remembering a document you forgot to bring along. You&#8217;re in your winter coat and boots, leaning over the computer, the dog is barking because he thinks you&#8217;re going to take him for a walk, and you get a paper jam, or a message that the printer is out of magenta. With a cheap printer, this seems to happen 1 out of 2 times (thought it&#8217;s probably more like 1-in-5).</p>
<p>Visualize this and you&#8217;ll spend the good money.</p>
<p>A corollary to this rule is the <span style="color: #339966;"><strong>Hard Goods Corollary</strong></span>: More power/fewer features.</p>
<p>Here are some tools and equipment to which the <span style="color: #339966;"><strong>Rule of Hard Goods </strong><span style="color: #000000;">and</span><strong> Corollary</strong></span> apply:</p>
<ul>
<li>Computer printer</li>
<li>Power tools (A drill shouldn&#8217;t drill just <em>some</em> stuff. For an extra $60 you can get a drill to drill <em>any</em> stuff. That&#8217;ll amortize to about $1.50 anytime you need to drill something really hard over the next 10 years).</li>
<li>Lawnmower</li>
<li>Computer (The reason people pay more for a Mac.)</li>
<li>Camera</li>
<li>Snowblower (If you want to wrestle with a piece of equipment, you&#8217;ll spend less and fare better against a snow shovel.)</li>
<li>Winter coat</li>
<li>Washer/Dryer (It&#8217;s all about power. Features break over time; a powerful machine runs forever.)</li>
<li>Stapler (Unless you <em>never</em> plan to staple more than 4 sheets at a time.)</li>
<li>Sporting goods (Whatever your passion – golf, tennis, baseball, sailing, jai alai – equipment that doesn&#8217;t go all the way just saps the fun. You may as well stay home to figure out what&#8217;s wrong with that g-d- Scanner/Copyer/Fax/Printer/Stickintheeye.)</li>
</ul>
<p>There&#8217;s a place in the world for cheap stuff. If you&#8217;ve never been camping, never want to go camping, but you absolutely have to go camping just this once for one night with your son and the Cub Scouts, then go to Wal-Mart and buy the $39 two-man tent. You can buy a good tent for the next time you go.</p>
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		<title>Who&#8217;s really behind Steven Slater&#8217;s spectacular resignation from Jet Blue?</title>
		<link>http://www.themarketfarm.com/wordpress/2010/08/17/whos-really-behind-steven-slaters-spectacular-resignation-from-jet-blue/</link>
		<comments>http://www.themarketfarm.com/wordpress/2010/08/17/whos-really-behind-steven-slaters-spectacular-resignation-from-jet-blue/#comments</comments>
		<pubDate>Tue, 17 Aug 2010 19:13:29 +0000</pubDate>
		<dc:creator>Bob Rosenbaum</dc:creator>
				<category><![CDATA[Bob's Happygood Funny Blog]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Poutpourri for 200 Alex]]></category>
		<category><![CDATA[value proposition]]></category>

		<guid isPermaLink="false">http://www.themarketfarm.com/wordpress/?p=874</guid>
		<description><![CDATA[Once you get past the viral thrill of rehashing Steven Slater&#8217;s &#8220;bailout&#8221; from a career as a flight attendant that he could no longer stand to hold, the debate – to the degree that any debate is required at all – quickly gets to the question of who was more wrong? Was it Slater, who [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft size-full wp-image-876" title="steven slater" src="http://themarketfarm.com/wordpress/wp-content/uploads/2010/08/steven-slater.jpg" alt="" width="122" height="92" />Once you get past the viral thrill of rehashing <a href="http://www.nydailynews.com/topics/Steven+Slater">Steven Slater&#8217;s &#8220;bailout&#8221;</a> from a career as a flight attendant that he could no longer stand to hold, the debate – to the degree that any debate is required at all – quickly gets to the question of who was more wrong?</p>
<p>Was it Slater, who cursed at his passengers, deployed the emergency slide on the Jet Blue plane to which he was assigned, and (worst) stole two cans of beer before escaping?</p>
<p>Or was it a <a href="http://www.nydailynews.com/ny_local/2010/08/14/2010-08-14_bloody_jetblue_evidence_witness_says_slater_was_fine_at_start.html">still-unnamed woman passenger</a>, whom he accuses of berating him and hitting him in the head with either the door of an overhead compartment or one of the bags in that compartment?</p>
<p>How about this third option: It&#8217;s the airlines.</p>
<p><img class="alignleft size-full wp-image-877" title="frustrated airline passengers" src="http://themarketfarm.com/wordpress/wp-content/uploads/2010/08/frustrated-airline-passengers.jpg" alt="" width="188" height="268" />They have to accept responsibility for helping to turn passengers into snarling beasts with overbooked flights, endlessly punitive fees, optimized fares that make no sense to consumers, and a practice of setting flight schedules that they can&#8217;t possibly maintain. Then they exacerbate the effect of all these insults by bombarding us with  irreconcilable advertising campaigns to convince us how much we&#8217;re going to love the experience.</p>
<p>Further, they have to accept responsibility for their role turning flight attendants and other customer-facing personnel into recalcitrant and uncaring bureaucrats. The tools? Serial layoffs, confrontational union negotiations, low pay and a general disregard for their value. (When stranded near Chicago O&#8217;Hare during the 9/11 crisis, I met a dozen flight attendants from a handful of airlines – all of whom told me the hotel and meals were on their own dime during the unscheduled grounding.)</p>
<p>I&#8217;ve flown enough to know the truth of the matter. Some passengers, maybe even many, are simply boors who shouldn&#8217;t be out in public. And some flight attendants should probably find another line of work <em>before</em> they give their next safety briefing.</p>
<p>But for the rest of us, the airlines need to shape up. I can only imagine how complex and difficult it is to operate in this industry. Executives throughout the industry make incremental decisions that help the bottom line, and they are skilled at justifying why these decisions are in the long-term best interest of the customers.</p>
<p>But it&#8217;s simply not the case; there is no justification for selling a ticket and then notifying the passenger a day later that the flight is overbooked and an extra $25 will guarantee he isn&#8217;t bumped (this has happened to me a handful of times).</p>
<p>It&#8217;s simple really: Each airline needs to figure out a way to make money while treating passengers and employees like something other than refugees and wardens, respectively.</p>
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