What is Bizwire Marketing 2.0?

Jim Ruether

Bizwire:  Marketing 2.0

Bizwire Mission Statement

Bizwire is a consulting organization that provides social media marketing services to local small business communities. The mission statement of Bizwire is to provide business owners with an interactive marketing strategy that is built on scholarly research and practitioner feedback. The business model was developed using four foundational principles of Technology Adaption,CommunityNetworkBuilding, Recommender System, and Social Media marketing Techniques. By giving business owners the tools and education required to implement these fundamental business practices, the business partners of Bizwire will have a decided strategic marketing advantage over their competitive neighbors. The power of social media is in the process and not the toys. Utilizing a proven marketing philosophy built on scholarly research, continuous improvement, and customer feedback has given Bizwire a brand image that defines the internet presence they provide for their community business members.

Why Local Business Needs a Marketing 2.0 Strategy – You Need a Plan

Jim Ruether

Bizwire:  Marketing 2.0

Competition among local small business is becoming much more sophisticated in utilizes technology and interactive marketing. Small business must compete with their talent, their experience, and their sound judgment. Rousseau, D. M. (2006) acknowledges that managerial competence is essential to the success of the organization and this proficiency is enhanced through continual learning and searching for the best information. The introduction of the internet has facilitated the existence and exponential growth of interactive marketing. The benefit of these new interactive media tools is that it gives localized small businesses a platform to aggressively market customers that are outside of their traditional target market area. The drawback is that these same interactive media tools provide national and even international competitor access to their customers.

Making Strategy Work, Hrebiniak (2005), discusses the fundamental process for developing and implementing an effective business strategy to resolve problems facing an organization.

Why Small Business needs Marketing 2.0

Jim Ruether

Bizwire

Marketing 2.0 for Local Business

As small business maneuver into the era of interactive multi-channel marketing it is critical that these business owners and managers adopt an effective internet presence in order to remain competitive. New interactive marketing tools and techniques offer a multi-channel strategy for customer contact. Currently, many small business owners and managers do not have an interactive marketing strategy to support the growth opportunities of their operation. However, a high percentage of small businesses do have some internet presence even if it is just a web page. In today’s competitive environment together with the current economic conditions, it is more important than ever for small business to proactively engage in interactive multi-channel marketing. Their very survival may depend on this decision.

It is still all about Word-of-mouth for marketing your business.

Social media has digitized the ancient traditions of word-of-mouth communication as an important influencer in the decision making processes of the modern consumer. Chen and Xie (2008) discuss the increasing importance of how user based comments posted on social media platforms are providing a new venue for brand communication and evangelistic participation by knowledgeable consumers. Consumers helping consumers make purchasing decisions can be a very powerful asset or a potent liability when it comes to brand reputation. Word-of-mouth marketing provides a voice to the consumer. Social media sites provide an interactive forum where ideas, experiences, and information can be freely exchanged outside the control of the business community. The power of having your satisfied customers become advocates of your products or services can create a viral effect on the value of your brand. However, if your brand experience does not match your promised brand image, then that information will be shared with the community as well.

Interactive Marketing 2.0

Jim Ruether

Bizwire:  Marketing 2.0

The New Marketing Paradigm

Interactive marketing and social media applications are beginning to have a significant influence on the marketing strategies of small businesses owners. The goal of Bizwire is to understand the value of the various social media tools and create a marketing strategy that allows small businesses to remain current with the technology and rapidly adapt to the continuously changing environment. Working with small business, local chambers of commerce, universities, and marketing think tanks will provide an exciting, challenging, and rewarding career opportunity. Seldom does and entire industry transform in such a short period. Traditional marketing strategies that have been taught in scholarly settings and practiced in the trenches of industry have been turned upside down. What worked in the past, no longer provides the same return on investment. Consumer driven interactive communication processes is replacing business driven static marketing techniques. The customer is assuming the control of the marketing message and transferring this power of the marketing media away from business towards social media forums. The opportunity to participate in the transformation of an entire industry is an exciting proposition. The internet and interactive multi-channel marketing will affect every consumer and thus every business.

Making Strategy Work, Hrebiniak (2005), discusses the fundamental process for developing and implementing an effective business strategy to resolve problems facing an organization.

The Adaption of Technology

Jim Ruether

Bizwire:  Marketing 2.0

 

Previous Research Studies

There have been many previous studies on technology adoption as it pertains to computer technology, electronic data interface (EDI), web based technology, and e-commerce applications. Ghobakhloo, Zulkifli, & Aziz (2010) discusses the theories of technology acceptance to include The Technology Acceptance Model (TAM), The Theory of Reasoned Action (TRA), The Diffusion Model (DOI), The Theory of Planned Behavior (TPB), and The Interactive Model of Technology Acceptance and Satisfaction (IMTAS) to create a theoretical understanding of the methodology of technology adoption by business. Previous research demonstrates that small and medium size businesses are less likely to be active adopters of technology than large corporations. A logical reason for this disparity of technology adoption may be the access to specific resources that are not as readily available to most small businesses. Financial costs, technical expertise, management knowledge, operational support, and research capabilities provides insight to the reluctance to embrace technology.

Every generation of technology requires new skills, new equipment, and new risks associated with the integration of the new processes. Pearson & Grandon (2005) discuss the findings of King (1993) that the economic costs and the lack of technological knowledge were the two most relevant factors that kept small business from adopting technology. The introduction of social media networks offers a solution which may overcome these resource barriers for the small business owner. The equipment needs of social media platform are limited to a computer and a high speed internet connection. The software requirements are now available from cloud based software providers and internet service providers. The technology is so easy that hundreds of millions of people are using these networks. There is no need for a computer programmer or IT technician because all of the applications are managed in the internet cloud. Bizwire has created a two web based tools, the “Dashboard” and the “Newswire,” to ensure a network system that provides ease of use and usefulness.

Over the past two decades, organizations have been introduced to a vast amount of new technology that has transformed how business functions. During this transformative process, the willingness and ability to adopt or adapt to this new technology has had a tremendous influence on the success of many companies. The evolution of technology has progressed from the early stages of mainframe computing, to electronic data interchange (EDI), to internet connectivity, to e-commerce, and currently social media networking. Along with this transition of technology has been significant studies and research analyzing the critical success factors associated with the success or failure of organizations to successfully adopt new technology. By analyzing the results of the previous research it may be possible to understand and incorporate an adoption strategy that will assist in successful implementation of future technologies for businesses. To date many small businesses are reluctant or do not have the necessary resources to incorporate these previous technological tools successfully into their business processes. The focus of Bizwire is to make sure that business owners understand and incorporate the interactive marketing activities that will benefit their company.

 

The Adaption Process

Cohen & Levinthal (1990) describe the capacity of an organization to adapt technology is related to their abilities and resources required to assimilate the technology to their current or future business processes. The process of technology adoption by a business is often a complex procedure that must endure internal and external factors associated with the type of innovation, the factors of acceptance, the difficulties of implementation, and the recognition of value. The process of technology adoption often encapsulates the entire company’s processes and procedures. The adoption process often requires an interaction between internal and external expertise and knowledge transfer. The new technology flows into the business structure and is either adapts or converts the existing processes during the implementation phase into the acceptance phase. Ultimately, the adoption process is a function of managerial and organizational competence that requires a propensity to identify, assimilate, and incorporated new technology into the business structure as a strategy to enhance the capabilities of the company. Bizwire offers educational webinars and direct classroom instruction to show business owners how to use the technology. The company also provides a step-by-step operational process manual that incorporates an e-commerce project management tracking system to ensure all marketing milestones are programmed into the user’s calendar.

Analyzing the attributes associated with small business provides an understanding the advantages and disadvantages that correlate with technology adoption. Damanpour (1992) suggests that small businesses have an easier pathway to technology adoption because their less bureaucratic structure because they require less communication, less coordination, and less influence to garner support. This allows small business to be more flexible, faster to implement change, and have less difficulty accepting change associated with technology adoption. However the more complex and costly the technology the more challenging the proposition of technology acceptance and adoption becomes for small business. Because Bizwire understands the time restraints and limited resources available to small business owners, the processes and procedures enlisted for an interactive marketing strategy are uniquely designed to satisfy these boundaries.

Limited resources of small businesses such as, management knowledge, technical skills, financial resources, and tolerance to risk provide the greatest disincentives restricting technology adoption. Earlier technology advancements such as mainframe computing, EDI technology, internet connectivity and e-commerce solutions required substantial resources of time, talent, and money to implement into a business. Because of the resource commitments associated with these earlier technologies many small business owners did not aggressively pursue these solutions. The low cost and ease of use associated with social media marketing now provides a technology solution that small business and their customers can understand, implement, and immediate incorporate into their business practices. Reducing or eliminating the high cost and resource commitment associated with earlier technological advancements provides small business the opportunity to be on a level playing field with that of the larger organizations. Bizwire’s business model and marketing strategy was created to overcome the resource limitations that have delayed small business owners from utilizing technology.

 

Your Online Presence

The primary interactive marketing objective is to establish an online presence. It is important that today’s small businesses display and promote their brand utilizing a multi-channel approach available on the web. To enhance customer relationships, it is necessary to provide interactive connectivity with current and prospective customers. The internet and social websites provide the avenue to engage in a virtual dialogue with individual customers or strategic virtual communities. Promoting your business on the internet provides a low cost solution that produces a high-end web image. The interactive capabilities provide a platform to inform and educate your customers. Web analytics offers real time feedback and measurement tools to monitor the success of any marketing promotion (15Mile Marketing 2010). The Bizwire Dashboard was created for three specific purposes. First, is to help a business owner discover their internet presence. Next, is to allow the business owner to react, repair, and respond to their internet presence. Lastly, is to add content and back link all of the sites listing their internet presence back to a company owned landing page that promotes their business.

Gilmore, Carson, & Grant (2001) suggest that because of the inherent resource limitations of most small businesses and the presence of an informal marketing structure is very prevalent in the marketing strategies of these organizations. Marketing by informal networking is more common than marketing through a traditional structured marketing planning. Most marketing activities are people oriented, interactive, relationship based activities that focused on extending the personal network range. Marketing by networking appears to be a more comfortable method of promotion for small business owners that creating a complex marketing strategy. Personal contact through industry activities, trade associations, group memberships, and individual connections were the primary focal points of building a solid network structure. Bizwire connects all of the electronic communication points and provides a platform where all of the conversations become interactive.

 

References:

15Miles Website, (2010). Http://15miles.com. Retrieved May 14, 2010.

Cohen, W. M. and Levin, R. C. (1989). Empirical studies of innovation and market structure. Schmalansee and Willing (eds) Handbook of Industrial Organization, 2, 1059-1107. Elsevier,Oxford.

Damanpour, F. (1992). Organizational size and innovation. Organization Studies (Walter De Gruyter GmbH & Co.KG.), 13(3), 375-402.

Ghobakhloo, M., Zulkifli, N. B., and Aziz, F. A. (2010). The interactive model of user information technology acceptance and satisfaction in small and medium-sized enterprises. European Journal of Economics, Finance & Administrative Sciences, (19), 7-27.

Gilmore, A., Carson, D., and Grant, K (2001). SME marketing in practice. Marketing Intelligence & Planning. 19/1 [2001] 6-11 Retrieved on November 13, 2010 from http://www.sie.ed.ac.uk/resources/SIE%20Gilmore%20et%20al.pdf

Pearson, J. M., and Grandon, E. E. (2005). An empirical study of factors that influence E-commerce Adoption/Non-adoption in small and medium sized businesses. Journal of Internet Commerce, 4(4), 1. Doi:10.1300/J179v04n04•01

How Does “Your” Businesses Make Decisions – Is it Based on Evidence?

Jim Ruether

Bizwire: Marketing 2.0 Strategies

Twenty-five years ago, I took a research methods psychology class that introduced me to the scientific method of problem analysis. I have not thought much about this practice since the completion of this course – Shame on me. It is also important to note, that the college of business at many universities put more emphasis on colloquial learning than on the scientific method for training managers. To clarify the definitions, the scientific model studies cause and effect relationships associated with variables and control factors. Whereas, colloquial management practices rely heavily on business experience for supporting decisions. This article focuses on the importance of including evidence based decision-making into an organizations business model.

Too many decisions made by our “local businesses” are not supported by solid evidence. Change management requires an effective execution strategy based on sound logic to accomplish the desired results.

What is this Bizwire Digital Billboard Anyway?

You can be a Silo and Market yourself……………………or…………………….Become Part of a Local Business Community and Market Each Other!!!!

Alone Your Good………….(but)…………….Together were Great!!!!

Become Part of Your Local Bizwire Business Community.

Analyze and Respond to the Articles in Module 1.0

The assignment is to read and analyze two Harvard Working Knowledge articles; “Are you ready to fight a giant” by Chris Harrop and Barney Hamilton (2005) and “Rethinking marketing’s conventional wisdom” by Garry Emmons (2005). Both articles support the ideology that innovative marketing strategies provide the opportunity to create a competitive advantage. Harrop and Hamilton (2005) focus on exploiting the vulnerabilities of the established industry leaders by providing superior niche products and services. Garry Emmons (2005) discusses how to implement non traditional marketing tactics to disrupt the fundamental marketing principles and grasp the attention of the target audience. The significance of combining these two concepts is that all markets present hidden opportunities and no markets are protected.
Harrop and Hamilton (2005) begin by examining the concept of “barriers to entry” and the false sense of security this notion provides to the incumbents.

Hi International Marketing B6604: Let’s Go International!!!

Just a quick message from Jim Ruether on how easy it is to become an international business.