Wednesday, October 19, 2016

Great Challenges and Opportunities for B to B Marketers



As ubiquitous as digital technology may be in our world today, it has created a set of complex challenges for modern marketers. 

On one hand, digital communications and technologies have made it easier than ever to connect with buyers and customers. On the other hand, tracking, nurturing, and engaging potential buyers and current customers digitally can often seem completely disorganized, with no means of effectively managing or measuring the value of those interactions.

Adding to this challenge is the fact that many marketers today are expected to integrate and organize those digital marketing efforts while still maximizing the value of non-digital assets, experiences, and resources. Not all of the marketers in today’s companies are digital natives, nor are the companies themselves. This means that businesses and their marketers are expected to market digitally, yet still incorporate and transition the decades of experience and millions of dollars invested in event management, traditional lead management, and non-virtual content creation. 

For many organizations, this is essentially asking them to run two entirely different types of marketing, often with half their previous budgets. Nowhere is this duality more present than in business-to-business (b-to-b) marketing, where companies sell products and services to each other.

B-to-b marketing is complicated by the fact that it typically involves a much longer buying cycle, larger purchases averaging millions of dollars each, more educated buyers, and more complex needs. All of these unique features mean that b-to-b digital marketing is one of the most complicated areas of marketing today.

Manhattanville School of Business along with SiriusDecisions partnered to provide an online B2B digital marketing certification to address these challenges and opportunities.  Join our free live online demo on Friday, October 21st at 1EDT to learn more. 


Wednesday, October 5, 2016

The Marketing Success of Mailchimp








Today in the October 5th New York Times there was a wonderful article published about the success of a small business called MailChimp and how they accomplished this while taking the road less traveled. According to the article there are two ways to create a business. 




The first is the typical way a business gets started; a young entrepreneur comes up with an innovative idea, next is the creation of a prototype along with participating in a start-up boot camp. This then leads to small investors hopping on board; which leads to the creation of a Kickstarter. If everything works out and the product is successful it’s time for the founders to enter the haphazard mode called expansion. This usually translates to selling off the company piece by piece for huge chunks of money from venture capitalists. Then, once a few years have passed, if all goes well, the founders hit it big time and then BANG their set. 




The second and less well known option is just creating a small business. When creating a small business believe it or not it doesn’t have to be a million steps or even have millions of investors’ money put into it; you just keep it simple and sometimes simple is better. MailChimp is a simple start up business, owned by Mr. Chestnut and his co-founder, Dan Kurzius. Realize how there is no mention of any third party owners, such as investors. That’s because the second path to take when creating a business is the path with the least resistance; this means no investors, no enormous debt to pay back and no complicated business dealings. 




The article also goes into detail about the focus of MailChimp and its business. Little by little this small business clawed its way to the top, without spending a dime more than it was making. The difference between those who have a seemingly endless amount of money and those that do not is the pure and simple fact that those without money learn how to use it more efficiently. 




MailChimp is a business that was created sixteen years ago to help small businesses by creating marketing software. This idea came from the founder’s customers from a previous business called, Rocket Science Group. The customers wanted a way to reach their customers by email; so for many years the pair ran both the web design (Rocket Science Group) as the main business and MailChimp as a side business. 




            The two men created a whole business about helping small businesses succeed by using social media. At Manhattanville College School of Business we offer a course that provides this kind of insight called Social Media and the Business Imperative. Our Program Director, Laura, Persky stated “Social Media and the Business Imperative class helps businesses figure out which types of social media are best for their products and customers”.  The School of Business, just like MailChimp is dedicated to helping small businesses succeed by reaching out to their customers more efficiently and effectively. 

      Alexandria Borg '18
 
For more information on the M.S in Marketing Communications Management or attend our Open House on Thursday, November 10th at 6:30 pm.

Monday, September 26, 2016

The Global Economy: Its Impact On Business School Applications



Last week’s Wall Street Journal included a very interesting article about the growth and decline of M.B.A.’s and Master’s degree Business programs within Europe and the United States. According to the studies done by GMAC, (the Graduate Management Admissions Council) the percentage of students attending graduate school for their Masters is directly tied to the economy. 

The European economy is struggling at the moment; due to this, the percentage of unemployed people in Europe has risen. This along with the variety of specialized programs that are being offered have caused a major influx in applications for Europe’s one year M.B.A. programs. Online M.B.A. programs also saw an increase in applications this year.  

On the other hand in the United States the economy is in better shape than that of Europe’s economy. This has caused our unemployment rate to drop; which is the reason for the lowest percentage of full-time M.B.A. applicants in four years. There is even a drop in part-time M.B.A. programs; this is suspected to be directly caused by employers cutting back on tuition refund programs. Contrary to the previous if the United States economy continues to grow, then shorter programs in high demand fields such as data analytics will be of interest.

But the United States has gone through a period similar to Europe’s current state, this occurred during the 2008 economic recession.  It seems that although the M.B.A. programs in Europe are shorter than most programs offered in the United States by one year, there are still a very large number of international students coming into the United States from Asia, South America and Africa.

It seems that the shorter the program is, the better; an example of this is at the Manhattanville College School of Business. They offer six, part-time, one and a half year Master’s Degree Programs.  These include a variety of different specializations such as a M.S. in Finance, M.S. in Human Recourse Management and organizational Effectiveness, M.S. in Sport Business Management, M.S. inInternational Management, M.S. in Business Leadership and M.S. in Marketing Communication Management

Alexandria Borg
Manhattanville '18
 

Friday, August 26, 2016

The 2016 Olympics- I wish I was there!


Simone Biles August 8, 2016 Olympics
Watching this year's Rio Olympics I couldn't  help but connect how MSB industry driven graduate programs relates to the Olympics (or any other global business venture). 

1) M.S. in Business Leadership-  Athletes, or employees have to work together as a cohesive team.  Business is a team sport and tomorrow's  leaders are effective team players.  Learn how to inspire teams and generate results in this leadership focused, MBA alternative program.

2) M.S. in Finance- This year's Olympic games cost $4.56 billion dollars to host! Although a huge amount, it was actually less than the London and Beijing Olympics.  Behind the scenes corporate finance, accounting and investment management professionals were critical to support this huge money venture.

3) M.S. in Marketing and Communications Management- The Rio Olympics  involved thousands of marketing professionals.  Think of all the advertising, licensing, sponsorships, social media and partnerships that were involved.  The Olympic Marketing Committee publishes an interesting marketing fact file to ensure the integrity of the Olympics.  To view this file click here.

4) M.S. in Sport Business Management- Sport Management is an obvious connection to the Olympics, but Sport Business Management professionals are also focused on aspects that may not be so obvious from the start including :  facilities, journalism, communications, agents, negotiations, fundraising from the viewpoint of every business discipline.

5) M.S. in Human Resource Management and Organizational Effectiveness- The Olympics is a monstrous HR undertaking .  HR professional are critical to securing the best workers, training, compensating and ensuring security, volunteers, contractors, Zika, health concerns, doping scandals, safety, cultural implications and global legal HR issues are addressed properly.  

6) M.S. in International Management- The Olympics is a huge international business event.  11,000 athletes from 207 nations completed in 306 events.  Managers are needed with expertise in working with different cultures, global economic concerns, political issues and global business practices.

Get your graduate degree at the School of Business in as little as 1.5 years of part time study- just in time for the Winter Olympics in PyeongChange Korea!

Jean Mann
Director of Marketing and Enrollment Services
Manhattanville School of Business
 

Friday, July 1, 2016

Stimulating Conversations on Managing Risk: You Can’t Afford Not To



Stimulating Conversations on Managing Risk:  You Can’t Afford Not To



Michele Braun, Director
Institute for Managing Risk

Thinking about risk?  You know it is a good idea, but who has the time? 

CFOs, nonprofit executives, risk managers, business leaders, insurance and technology thinkers, financial managers, and students of many disciplines learned how essential it is to make the time!  Last month, they gathered at the Institute for Managing Risk at the Manhattanville School of Business for stimulating discussions on risk.  Most importantly, they joined together to talk about how an organization can think about risk and practical steps to be ready for expected and unexpected risks. 

In two events, participants joined no-holds-barred discussions on preparing for risk, identifying risk, managing and mitigating risks, as well as preparedness for those risks that are harder to foresee.

On June 7, risk professionals with years of experience at hedge funds, utilities, financial firms, and job placement companies tangled on the nature of risk and what “managing risk” entails.  With active challenges from the audience, event participants explored ethical issues, when it may be appropriate to take risks and when it is absolutely not appropriate, and the importance of “backbone” to stand up for good risk management inside an organization.  Co-hosted by Stamford PRMIA, this discussion on “Managing Risk in an Age of Uncertainty,” held participants in excited networking long after the official panel presentation had ended.  

The following week, executives and board members for nonprofit organizations gathered to explore their obligations to manage risk.  Co-hosted with the Nonprofit Management Center at Manhattanville, participants spoke of the challenges of balancing an organization’s mission while managing its risks.  These risks, they revealed, come in many forms, encompassing day-to-day management challenges as well as potential unusual events.  The executive of a grant-making organization and leading experts in strategic planning, financial preparedness, and insurance for nonprofits provided important guidance for nonprofit enterprises on “Preparing for the Unknown.”

To learn more about future events at the Institute for Managing Risk at the Manhattanville School of Business, check out the website or email me at michele.braun@mville.edu.

Monday, June 6, 2016

Thinking about Risk: Taking or Avoiding Risks is a C-Suite Imperative!



Thinking about Risk: Taking or Avoiding Risks is a C-Suite Imperative!


“…risk is a reality and you have to think about how to position the organization to take advantage of the opportunities,” says Peter Zaffino, CEO of Marsh, LLC, on the front page of The Wall Street Journal’s May 31, 2016, “C-Suite Strategies” section.  Mr. Zaffino is also quoted as saying that “Risk isn’t a negative.”  While taking risks can absolutely be a positive—a business imperative, actually—it can also be a negative.  Most importantly, risk should be considered strategically and tactically, and absolutely in the context of the enterprise taking the risks.

The International Standards Organization’s treatise on risk management defines risk as the “effect of uncertainty on objectives,” specifying that an “effect is a deviation from the expected” and that an effect can be positive or negative. [ISO 31000:2009]  Positive or negative… the positive outcomes from risk taking include corporate growth and profit.  The negative outcomes include product failure, financial loss, and reputational damage.  The former are desirable, the latter to be avoided. 

In two upcoming programs that are open to the public, the Manhattanville School of Business Institute for Managing Risk will host industry experts, risk managers, business and nonprofit leaders as they explore these challenges, consider how to embrace risk awareness, pursue “up-side” risks, and mitigate “down-side” risks.

Register now, so you can attend: 
June 7, 5:30 p.m. – Managing Risk in an Age of Uncertainty, co-sponsored with PRMIA
June 15, 8:00 a.m. – Preparing for the Unknown:  Managing Risk in Nonprofit Organizations, co-sponsored with the Manhattanville Nonprofit Management program.

Think about it:  an enterprise—whether for-profit or not-for-profit”—that does not take risks is soon out of business.  A nonprofit that provides health services for the elderly, for example, needs to rent or buy clinic space, hire medical practitioners, establish a record keeping system, among other things all before opening its doors.  Each step carries risks, as well as the overall risk that no clients will appear.  Alternatively, there is also the risk that too many clients will request services and the facility will be overwhelmed, the staff driven to exhaustion.  Similarly, a for-profit company launching a new service or product faces an array of risks, ranging from the operational (production, distribution, post-sales support) through legal (copyrights and patents), financial (funding development, product pricing), and corporate (staff support through HR, accounting, IT, facilities). 

Importantly, strategically, ISO 31000 calls on each enterprise to decide for itself which risks it wants to take and which risks it wants to avoid.   If the nonprofit does not take the risk of opening its clinic, why should it survive?  If a company does not take risks to develop, produce, promote its products, why should stockholders invest in it?  Conversely, of course, unconsidered risks can delay or destroy either endeavor.  Thus, the challenge, the imperative, is to be “risk aware.”  Rather than being risk averse, an enterprise needs to consider and manage its risks.  This isn’t willy-nilly taking risks on new things, but neither is it knee-jerk risk avoidance.

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