Strategy

Today I was reading my daily Forbes.com newsletter and came across a great Mark Cuban referred to me by my partner at Red Branch PR, Michael Quinlan.  Normally we find Mark to be a bit of an abrasive, in your face personality, but when we checked out this link our opinions changed a bit. 

Alright, entrepreneurs. I'm not a financial junkie, or even very good at it. What I am around here is the Chief Nudger of Retirement Planning & Tax Preparation. This probably goes way back to my mom instilling in me not to carry a lot of debt on credit cards, and trying to establish credit history for us while in college, so that we could benefit later on (it worked).

I wanted to think of a sassy title for this blog but then I decided forget it, I want you to know exactly what you're getting - great advice from a fellow entrepreneur!  

Today I was reading one of my favorite online outlets, Jezebel, and came across an article about singer Katy Perry, and the media and pop-culture loving demographic of the population going nuts over her Tweets lately, tweets that supposedly hinted at a possible pregnancy.  (Back story: @KatyPerry recently got engaged to actor/comedian Russel Brand which she recently tweeted about in a cryptic message as well.  As with many celebrities, much of her life has been tweeted lately and as of this posting her following was at 1,618,694).

Sure the story is on the surface about a celebrity and our country's frenzied need to know everything about famous people all the time (and their often feeding it to us), but to me it's also another great example of how Twitter allows you to connect with and grow your customer/ambassador/database and your brand's reach more than ever.

As Jezebel's blogger explains, "the peculiar world of Twitter, and the direct contact people feel they get with celebrities, will only lead people to keep reading between the lines in order to solve a mystery that may only exist in their minds."  This is one effect of Twitter that is at times negative....but you can use this same power of Twitter and instant and intimate way the audience connects with your brand to propel it to new media opportunities, sales, visibility and get your message to spread virally if done correctly!

A brand's longevity is largely due to a loyal customer base and true brand ambassadors - especially during a recession when every sale counts more than ever.  Knowing that, be sure you create a passionate base of followers on Twitter who really care about what you say - they probably won't tweet about a possible pregnancy but they may instead give your brand exponential reach!

Find out more about what Jezebel had to say about Katy Perry's tweets HERE! 

Today while going through artcles I deemed a "must read but don't have time right now" from the past week, I sat down to read New York Magazine's coverage of the UBS Media Conference.  One of the hottest topics there was the discussion of the phrase we've heard time and time again "content is king".  This was not only true in traditional media, but seem

I'll admit it - I'm a Minkette!  No, that isn't a version of a Mousketeer, instead I'm one of thousands worldwide who follow, carry, and are loving and living the accessories (and now fashion) brand created by Rebecca Minkoff.  WWD covered the social media savvy designer and the article was great food for thoug

A quick Wall Street Journal read on the subway ride home (the actual paper not the iPhone app) revealed the secret of a company baking a profit during the Recession. Panera Bread is focusing on the 90% of people who are currently employed, and Panera continues to bake with quality ingredients. According to the article, Panera's second quarter profit rose 28% from a year earlier, and its revenue rose 3% (this all helped by a drop in commodity costs). Rival bakery cafes are not doing as well. Cosi reported a loss of $969,000 for its second quarter, and a 14% decline in revenue. What is Panera doing right?

By focusing on the people who do have money to pay for their baked goods, Panera has kept the customers it had, and gained some more. Panera is a large hub for wireless workers, some of whom are home office workers, and some of whom conduct meetings out of their company offices or are on the road. The quality of their food has not declined to cut cost, in fact, it has increased. The article points out that Panera is baking loaves later in the morning so that they are fresher, and it will soon offer a breakfast sandwich made with fresh eggs versus processed eggs. They already have an egg sandwich pastry made with your choice of cheeses, spinach, artichoke hearts, and more, which creates something of a craving for the average morning worker who needs a good dose of wireless access (ahem...yours truly).

Panera decided against cutting prices and offering Recession Specials. In fact, last year, it debuted a "strawberry poppyseed salad with colorful signs." The salad was a hit because of the fresh ingredients, but the profit margins were slim due to the high cost of quality ingredients. The next summer they raised the prices, and changed how they marketed the salad. The Wall Street Journal quoted Robert Derrington, an analyst at Morgan Keegan, as observing: "They redesigned their menu boards to prominently display only those items with higher margins."

Another smart decision cited by the article was to not heavily expand stores and take on debt while the economy was good. In fact, Panera is debt-less, and has $100 million in cash. Read more about these details here.

This summer, Panera is releasing a $16.99 lobster salad sandwich. While it's not for everyone, it is a good treat for that home office worker on a Friday, and a great reason to come in, plug in, and get to work.

Read the full article from the Wall Street Journal, as reported by Julie Jargon. It will give you great insight and confidence to keep going with the vision for your brand.