Erica Allison

Would You Invest in This?

Get Rich Quick!

Marketing your business takes work.  Throw in social media as a major component of that effort, and it takes a tremendous amount of work.  It also takes capital.  Whether you handle your marketing in-house or hire a firm to do it for you, it’s an investment from which you should expect a return.

Before you spend your hard earned money, choose wisely and ask yourself: Would You Invest in This?

The Get Rich Quick Marketing Company

For a modest amount of cash, the GRQ Marketing Company promises to deliver 300 twitter followers/month, daily likes and fans on Facebook, and new LinkedIn connections that will not only connect with you, but give you a recommendation for your work.  GRQ will also write all of your blog posts and deliver comments for each and every one.

What’s more, they will guarantee that you’ll get lots of “chatter” and love for your social accounts.  They’ll even crank out an email newsletter each and every month to over 20,000 people who are ‘just your type’.  You get all of this without you having to do anything, nothing at all.

Your social media program will be the envy of your cohorts and competition.

Small Investment + Fans and Followers = Successful Return, right?  

Keep in mind that all of your followers gained by this company, by your investment in GRQ do not really know your company, did not seek it out on their own, and will not likely hire you to do business.  The blog posts? They’re a mix of ‘scraped’ content from feeder sites or libraries of industry news; they are not what you would call original material.   The comments are, as you can imagine, from paid folks who say the right things but who are not there for your material, nor are they acting on all of those ‘calls to action’ GRQ set up for you.

Other than a lot of “wow, you’re all over Twitter and Facebook now,” your investment in this social media company will result in absolutely NO new business.   Moreover, it could quite possibly result in a negative Return on that Investment, not a positive one.

The Integrated Marketing for You Company

Along comes a new choice. Before you shell out money, the IM4U Company wants to meet with you to discuss your business, your current and past marketing efforts, what worked and what didn’t and why you want to now venture into social media.  Before IM4U takes on your account, they also want to take a peek under the hood – check out your analytics and online accounts.  Within a few days, IM4U returns with a recommended course of action and is ready to get started.

Brace yourself, there is no promise of a certain number of twitter followers, nor is there a promise of new ‘likes’ or LinkedIn recommendations.  There is a promise to match the marketing efforts to your goals, to actively engage your community, and create content that results in new leads and sales.

IM4U meet with you, your sales staff, your customer service representatives, and anyone else that touches or comes into contact with your customer or target market in order to create content that tracks with the overall plan.  They evaluate their progress with metrics tied to their campaigns, regularly communicating those results.

The Better Investment

You’re beginning to see a return on your investment in the way of increased sales leads, positive sentiment, higher quality leads and prospects, and, a shorter sales cycle.  You even have new followers and fans, real ones that can turn into leads.  What you also see is that IM4U is actually investing in your company and that makes all the difference.

The other company?  Not so much.

Before you invest your money, investigate the long term yield over the short term glory and ask the tough questions.  If the firm can’t answer them, or better yet, answers them too quickly with numbers and likes, watch your money. By the way, the same goes for the firms providing the service.  If the client wants the numbers and likes, keep walking. 

Image found via Flickr.

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Thanks for the example. Every new bloger struggles with this: do I want the 300.000 folowers who may never buy but make me popular or he 2,000 followers who are faithful and will buy if I am selling something of value. I too love the acronym IMFU! Best,Rajka

Thank you, Rajka! I always prefer quality over quantity, don't you? :) @ExpatDoctorMom

Definitely Quality! @EricaAllison

Ah, these GRQ companies are available in almost every industry, but marketing has always been particularly fertile ground. What's so interesting to me is that the GRQ firms in social are actually doing the opposite of what has been traditional -- they are promising hard, verifiable numbers (twitter followers, etc.) -- but it's all proof padding, it has no substance. On a positive note, if you run across someone who has worked with one of these firms before, they should be easy to get as a client. :)

@adamtoporek I agree - proof padding with no substance. Great way to put it! You're right, I do get some of these folks coming to me as clients. The only thing is they are super wary and really are looking for results quicker than in some cases, is feasible. However, they are also refreshingly surprised with an honest, can't promise the moon approach, and with someone who actually asks about the business bottom line.

@Soulati | PR You guys are spot on. I call these toxic businesses. They just suck the life and energy out of you. Good for you, taking a stand @EricaAllison

Thanks, Jon! I was inspired by Olivier Blanchard's post about the same and felt compelled to write my own. Unfortunately, these types of businesses are everywhere and set the expectations all too often. @jonbuscall @Soulati | PR

Somewhat similar in our business model in that we don't attract walk-in customers per se. We seek our customers out by identifying them through some parameters that lead us to believe they will fit in our 'ideal' customer model. But that is only the first step. The most important step is the initial face to face meeting where the expectations are discussed AND the hard questions are asked. If it's not going to be a good fit, we can save a lot of time on both sides. A little more concentrated but the results are much higher quality and potential for long term relationships. In the long run we make much more money with this model than the one size fits all. That's my story and I hope I was close to task on my reply.

It sounds like you do a LOT of pre-qualification work up front, before you even meet the potential client. I'm working on that more lately; it does save a lot of time for both parties if you can tell up front that it's not going to be a "fit" or that expectations are out of whack. @bdorman264 Great job sticking to the task, Bill. I'm beginning to wonder who you are lately? :)

The amazing part is that our instinctual reaction is to invest in GRQ because of the fact that IM4U looks like "too much work" for the investment. Humans: we're great fun. Love that acronym, too :)

Thanks, Shakirah! You're the only one that got my humor in that one - or at least said anything about it! ;) You're right, we instinctively want to take the easy option (Staples uses that as their basis for a marketing campaign, for heavens sake!) and not think about the hard work that should go into something. I think for Social Media in particular, it's an unknown for so many folks and unnecessarily "difficult" that the client is very happy to turn over the reigns of the "hard work" to someone else. @ShakirahDawud

Wonderful example and I hope it resonates. The get customers quick scheme NEVER works, although try telling that to a client who engages you for 3 short months and then asks "did you deliver?" We need 6 months and education about capabilities while synching expectation.

It's such a tough predicament to be in, keeping the client happy, while tracking with the results and relationships that are needed to make the overall plan work! @Soulati | PR

@Neicolec I know! I saw the Olivier Blanchard post as well and even though this is very similar, realized that a lot of my clients may never see the BrandBuilder and need to hear it in a different way before it sinks in! The businesses (I've taken on a few) are mad by the time they get to the IM4U company. GRQ has done such a number on them, they're loaded for bear (to use an old expression that my mom uses all the time!).

@Stuart Mills Stu, it's great to see you!! Come anytime. I'm guilty of not visiting yours, either (or too many others, for that matter!). I like your bottom line and it does apply here. Sometimes, the client doesn't know what the services can get them, which is why they end up with a bag of numbers and no money. Then, by the time I come along, they're really gun shy and expect to see results right away - and that's a rare occasion! Honesty and forthrightness are the best tools for any business in this game - makes it easier for all of us!

Absolutely! If you hire me, you expect a return on that investment. That's why I routinely have check-ins with my clients to find out if I am tracking. We also, as the provider, have to train the clients, believe it or not! I have had that rare occasion when I ask how my work is impacting their business and they say, "oh you're doing great, I love the blog posts," etc.. I have to push a bit and say, yes, but is it bringing you any leads? To which some of them (not all) look at me completely puzzled. That's just as dangerous as the GRQ - together, they make a dangerous mix!

@EricaAllison Here's to a ban on snake-oil and GRQ schemes.

Yours is the second post I've seen on this topic. Crazy that these shops like GRQ are springing up--and businesses are paying them money! I shudder to think what the overall reaction is going to be when businesses realize they've been duped.

Erica, it's been a while since I've visited your blog, which meant I've got some reading in the archives to do ;-) Regarding the two companies, there's no way in hell I would invest in GRQ. From what I can gather, they prey on the very fear that drives most people into business - the fear of not having enough financial security. The promise of 'pay a little now, get reaps of rewards later' sounds good in principle, but what happens instead is that the rewards that you'd like to see (more money) are different from the rewards that they offer (temporary social media strength). Bottom line - know EXACTLY what it is you want out of this game, then go for it :-)

If the investment doesn't yield a return on investment, it's just an expense. Example GRQ: expense. Example IM4U: investment. If I'm shelling out money in my business to GET more business, it needs to bring a return on that investment that is (sing along with me) money money money money....money$:) All the eyeballs in the world mean squat if they don't bring sales. My 2 cents (which, unfortunately, is now less than 2 cents in your currency), FWIW. Cheers! Kaarina (and Erica, if you think I've forgotten about #TeamBlogJack, I haven't....mwahahahaha...I just have to find my cohorts:)

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