July 16, 2007

What's a blog worth?

"Blogging? You mean, like, MySpace? I run a successful business and you're suggesting I spend some part of my week wallowing in the drivel of teenage drama? I don't have time for that."

In many ways, blogging is similar to desktop publishing back in the late '80s, early '90s. Those first few years people were putting out some dreadful stuff.

"Jerry, come look at this! You know that font package we just bought. Well, it has 77 fonts in it. I used every single one of them in this new tri-fold brochure I just produced. It took some real creativity to get Symbol and Zapf Dingbats in there."

We've come a long way since then. We came to understand that the basic rules of graphic design and typography still apply, even though we can now apply them at home or in the office. However, many of us discovered that by learning the basic rules - guidelines if you prefer - of graphic design, we could use desktop publishing to produce professional results at a fraction of the cost. Today, we take desktop publishing for granted. Even very small companies can afford a graphic design department.

Hither comes blogging. Blogging, for the uninitiated - those who have been under a rock for the last 10 years - is short for web logging, and refers to an online journal, of sorts. Wikipedia has what is probably the most complete history of weblogs to date. There is an entire sub-culture based on weblogs. But the question most business people want to know the answer to is, "What is a blog worth?" What value does it add to my business?

Much to the consternation and frustration of many would be professional bloggers, it is highly unlikely that the blog itself will generate much of a cash flow. Newspapers are discovering that subscription web sites are usually only marginally successful at best. This is even more true of weblogs. Companies like Google would have you believe that there's money in advertising on your blog, provided that it is successful but serious marketing professionals like Guy Kawasaki have found that there really isn't much money in blogging. At least not in the form of a direct revenue stream.

Weblogs provide a new communication tool that can radically change the way we communicate with each other, our partners, and our customers or clients. Weblogs can be an effective means of communicating with with company members, employees, internal communications. A weblog might replace the weekly company update meeting. Instead, the company owner/president posts an update to the blog at the same time every week. Weblogs are intended to be two way communication. Thus, others in the company have the opportunity to respond, not just in the moment of the meeting but over the course of the following week. Dialogue can develop and ideas can be flushed out.

Blogging can also provide a new avenue for discovering potential partners. Most industries have an active blogging community where it is fairly easy to keep track of what various companies and individuals are involved in. Likewise, a blog can be used to make it known to the world that you're looking for a collaborator for your own next adventure. Mind you, this is not like a want ad. Rather, the weblog is a discussion where others can get a glimpse of what you're about. The blog in combination with your company's history will provide future partners with the information they need to decide that you are a serious player with whom they would like to associate.

And, as everyone from time eternal is wont to do, I've saved the best for last, weblogs are a unique way to communicate with your customers, past, present and future. Your blog is a great place to talk about new products and services that you are developing. Get feedback from potential customers. Announce special offers and even a few give-aways to drive up traffic, motivating people to regularly visit a medium in which you have total control of the content.

The company blog is the place to engage the world in conversation about the things that matter to you as a company. This should include commentary on developments that affect your industry though it would be better to leave comments about your competitors out. Trashing your competitor's product doesn't belong here. This is the place to discuss the industry. New formats and how they will affect the future of the industry. New technologies and what they mean for the industry and society as a whole. Corporate philanthropy belongs here. Corporate involvement in the community belongs here. This is the place where you can express the corporate persona.

A weblog is probably the fastest and easiest way to create a web site for your company that is relevant to your business and makes a real contribution to your bottom line. One the site has been created, tested and accepted by you, it should require a couple of hours a week to write an article to post and, if it is successful, another hour or two reading and digesting the feedback. As with most things, you never reap in the season that you sow. Weblogs take some time to show a return and the return is proportional to the investment.


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