by Fronetics | May 1, 2017 | Blog, Leadership, Strategy
Companies usually try to understand failure, but what could they learn from analyzing their successes, too?
“Success is going from one failure to another without loss of enthusiasm.” Winston Churchill
Failure is said to be inevitable, and we all know it to be true. Any new venture is built on the hope of success. But accepting and managing failure is key to actually obtaining success.
Companies have a responsibility to ask the tough questions when things go awry. We have all been in these meetings: we diagnose failures, and we dissect the process, tools and staff involved to get to the root of the problem. Unfortunately, most companies only step back and really dive into what happened when something bad happens.
But what if companies took the same approach when something went right?
Focusing on the lessons in success
Companies are all a work in process. We learn as we go, and that learning should include understanding our successes. Shifting the focus from ‘what went wrong’ to ‘what went right’ creates a foundation for being able to recreate success in your organization.
Identifying and analyzing the components of a successful process can be the first step in moving into this new mindset. Paul Michelman, editor in chief of the MIT Sloan Management Review, experimented with dissecting his the publication’s successes and quickly discovered that their best processes start with transparency. Michelman wrote:
We plan a pipeline of content that is stored in a document accessible by the key participants. We track each content item’s progress on a shared project management platform. The few times we encounter bumps, a lack of information sharing is almost always at fault.
Though Michelman admits his research is unscientific, the key factors he has identified in their success stories has helped his business focus on what’s working, instead of waiting to dissect failure.
Technology can help
In today’s world, there is no end to the amount of data you can collect on your business. Your company’s digital presence is an easy place to start.
Tools like Google Analytics can give you advanced insight into how prospects are interacting with your company online. You can analyze how people are finding your business, and how they’re moving through your website all the way to making purchases. In other words, you can begin to analyze all of the little successes that make your business turn. How can you replicate that success on new projects and processes?
When things are going well, most companies don’t see the need to reflect on what happened, what went right. But don’t let this opportunity slip by. You should examine failures, but you should also look closely at successes. Take the time to brainstorm with your team on what you’re doing well and how you can keep up that success while you plan for future growth. —
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by Fronetics | Apr 15, 2014 | Blog, Content Marketing, Marketing, Social Media, Strategy
When it comes to content, a strategy is essential for success
A 2014 study found that 93 percent of B2B marketers use content marketing and that there is a significant difference in the effectiveness of content marketing if a strategy is in place – 60 percent of companies who have a documented content strategy in place consider their efforts to be effective as compared to 11 percent of companies with no documented content strategy in place. Similarly, the study found that companies who put a person in charge of content marketing were more likely to be successful than those who did not (86 percent vs. 46 percent).
In short, the majority of companies do not have a strategy in place despite the fact that companies are budgeting for and creating content and, that those who have a documented content strategy in place are more effective than companies who do not have a strategy in place. If your company is going to be effective at using content to drive profitable customer action, your company needs to have a strategy in place. Arjun Basu wisely said: “Without strategy, content is just stuff, and the world has enough stuff.”
Here are 11 steps to a content strategy.
1. Put someone in charge
If you want your company’s content strategy to be effective, you need to put someone in charge. Make sure they are in charge not just in name, but also in execution. That is, make sure the person in charge is given the authority to execute the strategy.
2. Define your goals
Why does your company want to create content? Do you want to shorten your sales cycle? Increase leads? You don’t want your content to be just stuff. You don’t want content to be ineffective. Therefore it is important to define what it is you want your content to do for your company.
3. Define your audience
Who is your audience? Create a persona. Take your time. Be honest. If you identify and define your audience correctly you will be more likely to reach your target audience and engage them than if you get this step wrong.
4. Define your metrics
Determine how you are going to track and measure success. Determine the metrics that you are going to track on a daily, weekly, monthly, and yearly basis.
5. Identify the right distribution channels
When it comes to content, distribution is essential – your content will not reach your target audience and will not be read unless it is distributed. Take the time to identify the distribution channels that are right fit for your company, your content, and your goals.
6. Create a publishing calendar
A publishing or editorial calendar provides you with a framework to create and distribute content. It helps you create content that is consistent, that is quality, and is tailored to your company’s goals. It is also helpful in terms of managing workflows, meeting deadlines, and managing writer’s block.
7. Create content
Valuable and relevant content is not a sales pitch. It is not content that pushes your products and services. Rather, it is content that communicates valuable information to customers and prospects so that they have the knowledge to make better informed decisions. Moreover, it is content that establishes your business as a reliable source of knowledge – as the thought-leader within the industry. Be thoughtful when you create content.
8. Distribute your content
Distribute your content via your target distribution channels. Distribute the content consistently over time and at the right time.
9. Engage with customers and prospects
Once your content has been distributed, engage with your audience. Respond to comments, respond to questions, and provide clarification. Make your content more than words – make it a relationship.
10. Track and analyze your metrics
Track and analyze your metrics on a daily, weekly, monthly, and annual basis. Take a look at what is working and what is not. By tracking and analyzing your metrics you can see, for example, what type of content is most effective and which distribution channels are helping you achieve your goals.
11. Make adjustments as needed
Your strategy should not be set in stone. Your strategy should be flexible. Look at your metrics, look at the feedback you are getting through your engagement with customers and prospects – make adjustments to your strategy as needed.
Remember that when it comes to content it is important to think marathon not sprint. An effective content strategy requires patience and determination. Many companies make the mistake of giving up on a content strategy too early; make a long-term commitment to your strategy.
This article was originally published on DC Velocity.
