Archive for February, 2010

What are you starting and what will you leave behind?

Friday, February 19th, 2010

I am in a history book club, which I’ve talked about before on this blog. We met last night, and the topic was winners of the Nobel Peace Prize. Everyone read about a different winner, all amazing people. But the most interesting thing to come out of the meeting was the story about Alfred Nobel and why he may have started the Nobel Prizes.

Apparently, Nobel and his brothers were the most famous inventors of their time. Most notably, Alfred Nobel is credited with the invention of dynamite. In 1888, Alfred’s brother Ludvig died when visiting in France, and a French newspaper incorrectly published an obituary for Alfred reporting, “the merchant of death is dead” and claimed that “Dr. Alfred Nobel, who became rich by finding ways to kill more people faster than ever before, died yesterday.” (As an aside, there is an interesting list of other premature obituaries here.)

Alfred NobelMany speculate that it was this bizarre and premature report of his death that led Nobel to (unexpectedly) leave the majority of his money in a trust to fund the Nobel Prizes.

Fast forward to today. One of viagra online shop in uk the best things about being an entrepreneur is the ability to create new things. But the implications of inventing or building or creating something that didn’t exist before can be serious. I’m certain that the founder of Craigslist didn’t anticipate it being used for murder, that MySpace’s founder didn’t plan for it to lead to suicide and that the inventors of these top 10 inventions that went bad for mankind didn’t plan for them to be used the way that the ultimately were.

Nobel’s invention has been used in mining, quarrying and construction to great results. But it has also been used to kill, murder and maim. That was a legacy that he wasn’t comfortable in leaving – so he did something about it.

I am an entrepreneur, but more specifically, I like to build things that didn’t exist before. I get a lot of joy out of envisioning something new, and then bringing it to life. This story of Alfred Nobel, though, was a good reminder to consider the cost. I’m also thinking hard about what I can to leave a legacy of which I can be proud.

The opportunity in B2B social media

Tuesday, February 9th, 2010

Coming off the recession, B2B marketing is poised to grow significantly in 2010. To get specific, according to a recent report from AMR International “B2B Online Marketing in the United States: assessment and forecast to 2013,” annual growth in U.S. B2B online marketing spend is forecast at 8% in 2010 and is set to reach 14% by 2012.

It’s good to see growth projected again, but more interesting is to take a look at exactly where that growth is going to be happening. The following are the three areas that are poised to grow the fastest, and their annualized growth rates:

- Social media: 21%

- Lead generation: 17%

- Online marketing services: 15%

B2B social media growth

Here’s why I think this is interesting. B2B marketers are planning on growing their social media spend dramatically, but the channels that they are going to have to use are seriously underdeveloped. Social media of all kinds is where to buy discounted viagra, lavitra & cialis definitely maturing, as are the ways that marketers can use it to reach consumer audiences. But in the business-to-business markets, there are not a ton of social media channels to reach viable audiences.

B2B audiences don’t currently have a home when it comes to social media. LinkedIn is a nice professional network, certainly a viable tool for people who are looking to network in B2B markets, but it’s not a place where B2B audiences live, not a spot for marketers to increase their spending 17%. The B2B publishers, who have served the B2B audiences well over the years, haven’t yet launched viable social networks or communities to support those audiences.

So other than experimenting with Facebook and Twitter and YouTube – which I suspect will prove to be a moderate success for some small percentage of marketers – where are marketers going to spend their B2B social media dollars? This is a huge opportunity.