Author name: DanReich

HOW TO: Use twitter to help your organization

Image representing Twitter as depicted in Crun...
Image via CrunchBase

People have recently asked me:

“How can I use Twitter to help my organization? I know I need to be on there, but how do I use it? What do I do?”

Answer (3-parts):

  1. Define your organization’s objective
  2. Establish your voice
  3. Build an audience

DEFINE YOUR ORGANIZATION’S OBJECTIVE:

Before you do anything, you first need to define what it is exactly you are trying to accomplish. Are you selling something? A product or service? Are you recruiting or building a team? Are you entertaining for the sake of amusement? Are you informing and educating on a specific topic? Is it a mix or variation of the previously mentioned?

Once you figure out what your ultimate goal is, you can than establish a voice within twitter (or any social networking or media property for that matter) in order to communicate your goals.

ESTABLISH YOUR VOICE:

Now that you have figured out what you want to convey, you need to figure out how you will say it. People use twitter in many different ways, but 3 key examples are:

1. The “What I’m Doing” Method (Real and Random Examples):

  • Tonight…I am going to hit the treadmill. YIKES.
  • Taking a fun, random drive on a warm spring evening.
  • Just had the world famous Bongo Burger Aka Persian Burger. Ohhh yeaaah!
  • Eating with @—– at pf changs
  • At meeting, Fed to weigh options to revive economy (AP) http://cli.gs/PVX3HG #Finance

Unless I personally know who you are, I’m probably going to unfollow you if you tell the world “Tonight…I am going to hit the treadmill. YIKES.” I mean, I really could care less if you are going to work off that cheeseburger you just ate for dinner. However, if you for example are someone big in the finance community and tell me “At meeting, Fed to weigh options to revive economy (AP) http://cli.gs/PVX3HG #Finance”, than I probably do care a bit about what you are doing.

Point is, when being personal and communicating in the first person, make sure what you are saying coincides with your goal as an organization.

2. The “Check This Out” Method (Real and Random Examples):

Look at the Twitter name. Look at the update. Very purposeful, very informative, and most importantly, the message ties back to the goal of that organization.

3. The “Conversation” Method (Real and Random Examples):

If I’m going to consider your organization legitimate and beneficial, I’d like to see that you are involved with some other people or organizations that are influential in your space. Demonstrate that you are engaged in your own community or niche market. This method, in conjunction with other twittering tactics, is how you are going to build an audience.

BUILD AN AUDIENCE

Now that you’ve identified what you want to say and how you are going to say it, you need to get together a group of people that will listen to you and hopefully pass along whatever it is you may be saying. You need followers.

If you are starting from ground zero and no followers on twitter:

  1. Head over to Summize.com or http://search.twitter.com/ (same thing).
  2. Type in some keywords that coincide with your organization’s objectives.
  3. Follow the people that are speaking your language and talking about the things you will be talking about. Reach out to them and tell them about your organization.

If you already happen to be on Facebook and want to leverage your existing FB network:

  1. Log in to Facebook and download the Facebook- Twitter application: http://apps.facebook.com/twitter/
  2. Now everyone in your Facebook network will get your Twitter updates.

At the end of the day the best way to learn anything is simply by doing, so if you are looking to create value from Twitter, just head over to to www.twitter.com, create an account, and dive right in.

Some tools that I use to help with Twitter:

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Will I-Banking bonuses ever be the same?

About a month or so ago I had a conversation with a VP from Goldman Sachs. We talked about work hours versus compensation in the investment banking world. We also talked about how he was seriously considering leaving the banking world to pursue an entrepreneurial endeavor. The conversation could pretty much be summed up by this graph:

Until recently, many undergrad and graduate students had one career and one purpose in mind: Work for an investment bank – make a ton of money (most of which came from big bonuses).

Today, those huge bonuses are gone yet some people are sticking around these jobs thinking that one day the tide will turn and the bonuses will be back. Part of me believes this is true, that history repeats itself, and one day big paydays will be back (it’s only a matter of time before someone else exploits a flaw in the open markets).

But the other part of me thinks that this will not happen for a very, very long time.

I recently asked my cousin David Wise, who works as a compensation consultant, what his thoughts were on the big bonus payouts. In short, he made a few really good points:

  • Investment banks are dead. They are now Bank Holding Companies.
  • These banks’ Return on Equity (ROE) have dropped anywhere from 20%-30% to 10%-15%. Less money for shareholders. Less money for employees.
  • The current compensation and incentive structures are broken and need to be fixed.

It’s going to be a very interesting 2009, 2010, 2011….

David’s take on compensation below in a recent CBS news interview:


Watch CBS Videos Online

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“F-U” Style Marketing

Things are getting tough, especially in the marketing world.

Marketers have to go way beyond conventional wisdom to drive results for their clients or personal business.

One, definitely not so new style, is what I like to think of as “F-U” Style Marketing. A style where one marketer or company completely bashes another.

I recently turned on a new NYC FM radio station 92.3 NOW FM, and about every 10 minutes I hear them bashing their competing station Z-100:

  • “If you listen to Z-100, you hate the Easter bunny”
  • “Commercial free because we don’t have to pay for Elvis Duran’s (the radio MC) hair gel”

There were some other somewhat cheesy bash-lines they had and can’t remember, but you get the point.

Are things so tough that people have to resort to dirty, guerrilla style marketing tactics? Is this just a good tactic to use anyway? I mean, we see it all the time in political campaigns, blogs, articles, reviews, books, music, and television.

I recently saw this video and couldn’t help but think that it was fake and done by a competing pizza company:…talk about “dirty” tactics…

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HOW TO: Streaming on demand music in your car

The Pandora app rocks...will the Masses use it...
Image by K. Todd Storch via Flickr

Forget pricey satellite radio, the crappy commercial filled FM radio, massive amounts of CDs, or your stale and unupdated iPod…

Here is how you can get free on demand music in your car:

  1. Take out your phone and download the mobile version of Pandora or Slacker radio (they are both free)
  2. Buy a cassette adapter for CDs or MP3 players
  3. Buy a car charger for your phone
  4. Connect the car charger and the cassette adapter to your phone
  5. Go to your Pandora or Slacker application and press play

Hands-free Bonus Feature:  When people call you just put them on speaker phone. Your friends will sound like radio jockeys.

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Become Rich: Made in China. As Seen on TV.

Mike Strutter in his infomercial for "Str...
Image via Wikipedia

We’ve all had these moments:

“Hey, Wouldn’t it be cool if we made….”

“I’ve got a really great idea. We should make…”

“Dude, This is genius. We are going to make….”

If you’ve recently had one of those light bulb, Velcro, post-it note, window in envelope idea moments, now is the time to make it and sell it.

Here’s how:

  1. MADE IN CHINA – Go create an account at alibaba.com and find a Chinese manufacturer that can make your “whatever it is” idea for cheap.
  2. INFOMERCIALS – Take your product to TV using infomercials.

With the economy still somewhat in free fall, advertisers are cutting back on marketing budgets especially in mediums like print and television. Networks are having hard times filling premium commercial slots with premium commercials, so instead, they turn to infomercials which are mostly direct response advertisements.

From CNN Money:

McAlister and other direct marketers hope to prosper through the downturn. With top-tier marketing firms slashing their ad budgets, competition for airtime has steadily declined, making room for a new class of advertisers. Infomercials were once relegated to the wee hours of the morning, when slots come cheap. Now they’re turning up in prime time, even squeaking onto the Super Bowl telecast: Cash4Gold, a direct advertiser that melts down jewelry, made headlines in January by snapping up an unsold 30-second slot.

Chances are good that a person calling one of those cheesy infomercials, are most likely going to buy the product. Why else would they pick up the phone in the first place?

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3 Pillars for College Admissions

There are three key components admissions officers look at when reviewing students’ college applications:

Today, most large universities are faced with the challenge of reviewing thousands of applications in a way that equally addresses all three pillars of admissions.

But, can they really pay equal attention to all three? Should they?

Consider how subjective or objective each category is.

  • Standardized Test Scores – Very black and white. Every student takes the same test. 100% objective
  • Grades – Not so black and white. Students go to different schools, have different teachers, different text books. 50% objective, 50% subjective.
  • Subjective Qualities – Extra curricular, essays, volunteering, leadership, etc. 100% subjective.

In a world that is losing economic and industrial boundaries (the world really is flat), people with “smarts”, high IQs, and academic mind sets are becoming commoditized. Look no further than India to see how bright minds, engineers and mathematicians,  are literally being cranked out in the hundreds if not thousands or millions.

The most valuable quality of tomorrow’s work force will be those with leadership skills. Motivation. Determination. Communicative abilities. Marketing abilities. A way to stand out to be bold, different. Unique.

Having the “smarts” is absolutely critical, but without an effective way to leverage your “smarts”, you become less valuable to yourself and employers.

Universities need to reevaluate how to consider all 3 pillars on an equal basis, with new methodologies and in a way that scales with the thousands of applications. They need to appreciate the value of the “Subjective Qualities” more so than they do now. This is not an easy task, but I’m confident some folks are up to the challenge.

After speaking with Steve Amundson, the new Director of Admissions at UW, I believe there are those individuals who are certainly capable and willing to meet these challenges. Steve is one of those people and I wish him the best of luck.

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Dear Ambassadors and Respected Representatives of UW-Madison and Education

In the back of my mind I’m always thinking about education and change. Below is an open letter written to some faculty members of my alma-mater about the importance in recognizing that change.

(Before reading this letter, please note that I will be making this letter publicly available on my blog. Also, kindly take note of the recipients.)
To: Chancellor Carolyn Martin – chancellor@news.wisc.edu
To: Provost Julie Underwood – junderwood@wisc.edu
To: Director of Admissions, Steve Amundson – samundson@uwmad.wisc.edu
To: Dean of Students, Lori Berquam – lberquam@odos.wisc.edu
To: Senior Policy and Planning Analyst, Hazel Wade – symonette@bascom.wisc.edu
To: Associate Dean of Students, Argyle Wade – awade@odos.wisc.edu

3/31/2009
Dear Ambassadors and Respected Representatives of UW-Madison and Education,

I am writing to you out of extreme concern for the future well being of my alma-mater and your home, UW-Madison. The admissions process, curriculum structure, and speed to iterate are overwhelmingly frustrating and alarming. The arguments and issues addressed throughout this letter only reflect my first hand experiences, but I firmly believe these issues are far-reaching and not specific to UW. Nevertheless, these issues exist and must be addressed, or at the very least, must be thoroughly considered. By way of introduction, my name is Dan Reich and I am a recent graduate (May 08’) from UW-Madison’s College of Engineering (Electrical). During my four year tenure at UW, I was able to accomplish some great things, including but not limited to:

Additionally, I have a younger brother Jeremy who is currently enrolled in UW’s school of business where he is double majoring in real estate and risk management. I also have a younger sister, who I would like to say is also a legacy, but was recently rejected by the UW admissions office. A sister who admittedly did not score as high as she could have on her SATs, but did have excellent remarks in school, as well as other critical skill sets and experiences (she also attended UW’s summer program). This is an individual who if assessed in relation to her peers, in my objective estimation, is a stronger candidate for success than most. Nevertheless, I believe the admissions process is critically flawed and this belief is not exclusively dependent upon my sister’s recent rejection.

While I believe the admissions process in general could be significantly improved, (which I’m more than happy and eager to discuss with any admissions officer at UW at any point in time), I will start my focus on the issue of networking in light of recent events.

As an individual who is currently working in a digital media and technology startup company specializing in social networks, emerging trends and technologies, I understand the importance of networks. Networks are literally changing the world. We see it happening everyday as companies like Google, Facebook, LinkedIn, Etsy, Twitter and others utilize the power of what Mark Zuckerberg calls “elegant organization.” When a single node is affected on a network, those directly tied to that node, piece of information or person also feel a change. The connections are what is most important. So, how does this have any relevance to the admissions process?

UW-Madison, as well as other schools throughout our society, should know this answer better than anyone else. Since 1848, UW has been building a super network of students and alumni. Every year UW graduates about 10,000 students who go on into the working world thus strengthening the badger universe. These are people who are ambassadors to the UW brand and are lifelong members of the network, and additionally each member has numerous other networks that are additive in value to the primary group: what we call Badgers.

Now you might imagine what I was thinking when I heard that my sister was not admitted into UW. A school that had endured not only my sweat, blood and tears, but also that of my brother. A school in which I had given money, time, but most importantly, a tremendous amount of value through conversation and action. So again, when I heard that my sister did not get into UW, you might think my reaction was “Why didn’t she get in?” but instead, my reactions were:

  • Why is the school degrading the network it has worked so hard to build?
  • How do you review applications? Why do you do it that way?
  • Doesn’t the school consider an applicant’s legacy within the school, and more importantly, their track record (I had a 2.5 GPA first semester and graduated with honors)?
  • Why didn’t I get a phone call from the school saying, “Dan, we just wanted to take the time and let you know that your sister did not get into the school?” or “Dan, if you and your sister are willing, we would be more than happy to go over why she wasn’t accepted?”
  • Why would I want to continue to support an entity that I believe has poor judgment?

In one phone call, you could have showed that you still care about your network in a very personal and meaningful way. Instead of strengthening your network, you weakened it.

How do you expect to compete in a rapidly changing world using obsolete methods and practices? Students are beginning to realize getting a “degree” is less valuable than getting practical, real world work experience. They can take courses online and learn what they need to learn with companies like Phoenix, Kaplan, BigThink, Academic Earth and even YouTube. Why spend $500/semester on books when I can get the same information free online? Why would students want to pay full tuition to an accredited university when at the end of the day they are taught linear algebra by a teacher’s assistant that speaks poor English, makes continual mistakes (which were witnessed by a head of department), and has inconsistent grading (this happened to me junior year. That semester I had a 4.0 GPA until given a C by a TA)? Why implement practices that have students cramming for exams instead of using methods enabling true adoption of the material (I wrote a piece about this on my blog entitled, The University of Nothing. This post received over 60 comments from various communities and sites, and the consensus was that current education systems are in trouble. I’m also willing and eager to discuss this point further with any faculty member. In fact, I had this conversation with one of my engineering professors when he asked my opinion on “why the enrollment in engineering was decreasing.” He was giving a presentation to his peers on this very topic).

In any case, this letter is not intended to bad-mouth or criticize current practices at UW. It is however intended to act as a wake-up call. I only and respectfully ask two things:

  • Please reconsider how you value your network and remember that we among the network are all ambassadors to UW-Madison. We are your most valuable asset.
  • Please reconsider how UW-Madison can take the lead and become the most efficient and attractive educational institution of tomorrow. The world is changing and so should you.

Again, I’m happy to speak to anyone and everyone about these issues. Please feel free to leave comments on my blog or send me an email at reich.ny [at] gmail [dot] com. I most welcome a phone call and conversation.

My Very Best Regards,

Dan Reich

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Dear Jeff Jarvis – Here’s Some GoogleJuice

I recently finished reading What Would Google Do by Jeff Jarvis.

This book is important for so many reasons, but the most important point of the book is that fundamentally, business in general is changing. Economics, supply and demand, manufacturing, education, fashion, government, finance, all of it is changing and unless you understand these changes and adopt a newer way of thinking, you will be in for a rude awakening when you realize everything you learned in Econ 101 no longer applies.

From Jeff’s Book:

“Many industries built their value on scarcity. Airlines, Broadway theaters, and universities had only so many seats, which meant they could charge what they wanted for them. They were scarce and thus more  valuable. Newspapers owned the only printing press in town and you didn’t, so they could charge you a fortune to reach their audience. Shelf space in grocery stores was limited, so manufacturers paid for the privilege of selling their boxes there. Television networks had finite number of minutes in the day with only so many eyeballs watching, so advertisers competed to buy their commercial time. Scarcity was about control: Those who controlled a scarce resource could set the price for it.

Not anymore. Want to sell your product to a targeted market? You don’t need to fight for a spot on the shelf in 1,00 stores; you can now sell to anyone in the world online. Looking for a dress everyone else doesn’t have when everyone else shops in the same mall? Today you can find no end of choice only a click and a UPS delivery away. Don’t want to buy The New York Times on the newsstand or pay for access to WSJ.com for news on your industry? There are countless sources of the same information. Even if The Journal reports a scoop behind its pay wall, once that knowledge is out – quoted, linked, blogged, aggregated, remixed, and emailed all over – it’s no longer exclusive and rare. It’s no longer possible to maintain that scarcity of information.”

As the world becomes flat we all become equalized and democratized. Success requires newer business models, stronger brands, and deeper focus. Google is only the beginning.

Well done Jeff. Well done.

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Be sure and cancel your credit cards before you die – $C

Citibank N.A.
Image via Wikipedia

This was too funny to not post…

(Sent to me from Rachel Glickman)

Be sure and cancel your credit cards before you die.

This is so priceless, and so, so easy to see happening, customer service being what it is today.

A lady died this past January, and Citibank billed her for February and March for its annual service charges on her credit card, and added late fees and interest on the monthly charge. The balance had been $0.00 when she died, but now somewhere around $60.00. A family member placed a call to Citibank.

Here is the exchange :

Family Member: ‘I am calling to tell you she died back in January.’

Citibank: ‘The account was never closed and the late fees and charges still apply.’

Family Member: ‘Maybe, you should turn it over to collections.’

Citibank: ‘Since it is two months past due, it already has been.’

Family Member: So, what will they do when they find out she is dead?’

Citibank: ‘Either report her account to frauds division or report her to the credit bureau, maybe both!’

Family Member: ‘Do you think God will be mad at her?’

Citibank: ‘Excuse me?’

Family Member: ‘Did you just get what I was telling you – the part about her being dead?’

Citibank: ‘Sir, you’ll have to speak to my supervisor.’

Supervisor gets on the phone:

Family Member: ‘I’m calling to tell you, she died back in January with a $0 balance.’

Citibank: ‘The account was never closed and late fees and charges still apply.’

Family Member: ‘You mean you want to collect from her estate?’

Citibank: (Stammer) ‘Are you her lawyer?’

Family Member: ‘No, I’m her great nephew.’ (Lawyer info was given)

Citibank: ‘Could you fax us a certificate of death?’

Family Member: ‘Sure.’ (Fax number was given )

After they get the fax :

Citibank: ‘Our system just isn’t set up for death. I don’t know what more I can do to help.’

Family Member: ‘Well, if you figure it out, great! If not, you could just keep billing her. She won’t care.’

Citibank: ‘Well, the late fees and charges will still apply.’

(What is wrong with these people?!?)

Family Member: ‘Would you like her new billing address?’

Citibank: ‘That might help…’

Family Member: ‘ Odessa Memorial Cemetery , Highway 129, Plot Number 69.’

Citibank: ‘Sir, that’s a cemetery!’

Family Member: ‘And what do you do with dead people on your planet???’

You wondered why Citi is going broke and need the feds to bail them out!!

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Looking for a job?

So is Jamie Varon…

“My name is Jamie Varon and I’m living in Danville, CA (if you haven’t heard of it, no worries) right now, hoping to move into San Francisco soonish, rather than laterish. The sole purpose of this site is simple: I want to get hired at Twitter and the only way to stand out in this competitive job market is to do something unique.”

I’ve heard many stories lately from people my age that have either lost their job, are about to lose their job, or haven’t found a job in the first place.

According to Forbes and their layoff tracker (as of this writing), there have been 511,925 layoffs since Nov. 1 2008 at America’s 500 largest public companies.

Something tells me that simply submitting resumes online and wearing a suit to interviews (if your lucky) isn’t going to cut it anymore. Time to think way outside the box and do something that demonstrates your expertise in your field. In the case of the recent graduates, many of us haven’t had enough work experience to substantiate a worth while track record.

So what to do?

Be different.

Things I might do if I wanted to be in…

  • Finance: Invest a small amount of money and demonstrate that you have the ability to earn good returns. Percentages not dollars.  See Stocktwits
  • Real Estate: Find a building you think is worth buying. Asses its value. Record its cash flow. Demonstrate why and how you know this is a good deal in a mini business plan.
  • Digital Media: See Jamie Varon – Screenshot of her site below
  • Doctor:  Study very, very, very hard for your MCATs.
  • Lawyer:  Study very, very, very hard for your LSATs.
  • Technology: Build something. Patent something.
  • Journalist:  Start a blog and a good one. Better yet, start a digital magazine and get some of your peers to be contributors.
  • Fashion/Artist: Create your own portfolio. Make it available online. Go to trade shows and network.

What can you do?

Here is a screen shot of Jamie’s site.

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