Business Entreprenurship events

Starting a Business (part 2) with Stephanie Booth

In Part 1 we discussed Stephanie’s background, and what led her to start her new company. In this final part we discuss the money and what Stephanie’s measure of success is, relating to finances.

Howard: Did you have to raise capital to run the event?

Stephanie: The company isn’t incorporated, so from a legal perspective I’m doing this event under my own name. In Switzerland that’s how it works. I’m looking into the incorporation, but I want to make sure the first event is successful before I do the administrative work to set up the company. There was no initial capital. The event should be self-financing, with attendee payments and sponsorship paying for it. That’s why I have some aggressive early bird pricing.

Howard: Are you paying yourself?

Stephanie: My objective is to pay myself, but the first ambition is that the event doesn’t lose any money. Hopefully I’ll make enough profit to pay myself.

Howard: Did you take time to budget the event?

Stephanie: Yes, I have spreadsheets but I was a bit naive about cash flow when I started. You can do a what’s coming in, what’s coming out, and hope the total of revenue is greater than expense. Or you can add a time component to the budget and you have a week-by-week vision of what’s coming in and what’s going out, to ensure that by, say, week 5, you’ll have enough money in the bank or incoming to be able to pay out at the end of week 5. This was something I hadn’t though about previously.

Business Entreprenurship events marketing

Starting a Business (part 1) with Stephanie Booth

This Entrepreneur Starts Her Business…With an Event About Starting a Business…

Stephanie Booth is a blogger, freelance Internet consultant and a new entrepreneur who is starting a conference business. Her first conference is for other freelance workers in the web and technology space and it focuses on the essentials of running a business. And Stephanie herself is learning these essentials in real-time as she prepares for the event.

(We also recorded this discussion. It will be published shortly at A Chat and A Song (Episode 18). I’ll change the link when it’s ready UPDATED: Direct link to episode 18 as an mp3  or click on that icon and listen to it in this page).

Howard: I know you have quite an interesting and varied background. Tell me more about how you got here.

Stephanie: I’ve been online for quite sometime, and blogging since 2000, and I primarily describe myself as a blogger and someone who understands the Internet. I studied Chemistry, Philosophy, French, Indian Religions, then worked as a project manager, a schoolteacher, and then up until recently I was a freelance consultant. My new business is called “Going Far” and it’s a media company. I organize events. I’ve been to many conferences, and I complain too often – the WiFi is bad, there’s no bottled water, the sessions aren’t interesting. A friend suggested that I could put on better events.

Howard: You complain at events. What will you do when people complain at yours?

Stephanie: I will probably crawl under the table embarrassed. I’ve realized it is a lot of work, and things are more complicated than they seem.

Howard: What things are more complex than expected?

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Slides from my TIMA talk

I’ve posted the slides from my talk on the Top Ten Trends in Interactive Marketing for 2008 at

blogging events marketing

Live Blogging from Google NYC at the AdClub Meetup

At Google NYC, Ad club meetup. This is live blogging of my raw notes.

Google TV buying service – avails via Echostar on 95 locals, with many different networks. Can buy a specific ROI. Take benefits of online -measurement, accountablity, and optimization, and move them to TV. with Set Top Boxes, they can measure the long tail of programming . They also have second-by-second measurement.
They only pay for impressions that see the commercials – no make-goods. Not selling only day parts as linked, buy on a CPM basis. Optimization – flexible – can make decisions on your spend on a daily basis.

Auction – Day 1 Bid on a CPM basis for dayparts, Day 2 – commercial airs if you win the bid, Day 3 – you get reports. In a few weeks they’l be able to do by-show advertising.
Highest bid wins, but at the 2nd highest bid price. No buyer’s remorse.
With Nielsen – they’re laying demographic data over set top box data.

Google Radio/Audio product – 1600 terrestrial stations on the network. They created a connection with ClearChannel. They have 100% US coverage. Radio as traditional – tough to get air checks, tough to get daypart listings, tough to get invoices in a quick time.
At Google, you as client can go onto interface, pick formats and demographics, and deploy in 24 hours.
Backend is cool – you can see realtime running. Get aircheck in seconds, change copy in 24 hours.
By the end of the quarter, you’ll be able to pull up campaign and cooralate it to your web metrics.

Sarah – Consumer Package Goods and YouTube specialist person at Google NY. Youtube – 6th largest destination on web daily.  Place for marketers to connect with consumers at moment of relevency. 57MM uniques, 100s of MM of videos viewed daily, 100’s of Ks of videos uploaded. Demographic- everyone’s on it. Most users are 35+., Global audience – 50% of traffic. People being able to share across boarders, so there are Russia, UK, Germany, Mexico YouTube destination sites as well. Platform as a voice for opinions – 2008 YouChoose sections for candidates. Davos question site giving people direct access to world leaders. CNN, CBS, Oprah, etc, all distribute content.
Connecting YouTube into your story-telling – via strong video assets. PPT now showing with an online campaign with Heinz, a “Brand Channel” on YouTube for their “Top This” campaign. 4000 entries, 80k Hours watching submissions, 10.1 Million views, 125,000+ hours of brand interaction. (Ed note – that’s huge).

Derek Kuhl – Agency relations – trends he sees in agency world.
This is a huge sea change time for agencies. 4 Key things.
1. Online is an unbelievalbe creative palate for agencies. Opportunity to let sight, sound, motion all with their search – create more than they have before with less challenge.
(We don’t have a way to celebrate this creative integrated stuff)
2. Idea of analytics not being relegated only to the web. Media planners and researchers – how can you check search traffic to see why people may suddenly be interested in a brand.
3. Ability to link media channels (see radio, tv above). Better metrics – so budgests aren’t just for radio or search, but integrated.
4. Current structure of larger agencies isn’t working for clients anymore. More models to bring different groups together.

Single interface to purchase ad campaigns all over the country, down to small demographics. IN the coming year, bringing in connection to Google analytics.

Question- directly  targeted  in-car ads?
Not yet that targeted.
But they do have things like triggers where allergy med commercials will run if pollen count exceeds x in a market.

Challenges to buying “integrated Google” – they’re working to make it easier to buy across their services.
Dan Frommer – SAI – Asking about Mobile. Hyper-focused, location based – – what’s the biggest hurdle to getting that sales stuff going? Sales force, location tech in cell phones, or something else.
They’re seeing enormous uptick in iPhone- teaching consumer about what a better experience can be from a phone. We need to be able to see that if you search for pizza in NY area several times, whe you look for Dry Cleaning, we assume you’re in NY.

Is there a clash between those who monetize traffic online and those who monetize awareness ? Web traffic monetizers vs. someone like Pepsi who just need awareness..

Next big thing?
Video, Social, neither is going away. Ability for web to connect people around common interests will continue it’s growth.

They currently allow connections to help people find production houses to create ads they’re placing.

Why should I use google ads and adsense for mobile? ESPN question –
Darn firefox froze, didn’t get this answer.

Question – when will Google offer a consolidated product –
They’re trying to do this using a consulting approach to help advertisers pick the right media mix.

Are they looking for an analytic tool across platforms –
They’re looking for a preditctiv e mix modeling tool – predict where you should adv.
After ad run analysis – new tools.

Question on direction of Jaiku – No one knows anything about what’s happening

question from Microsoft  how do you find talent to sell this new stuff? – It’s interesting for everyone. Tough – they take great pains to find people, the hiring practice is infamous, take pains to find the right people for the opportunity.

Question – Favorite reference material and final thought for each person and their area:

Long: Future is bright, beacuse we’re partners with agency and devloping platforms that let them sell products. TNS is his favorite reference

Radio guy – empowerment – lets smaller companies access media and get into commerce really quickly. Gets his info internally from Google’s systems

– reads economist. You Tube – more search features, more insights, and more measurement

– advertisng future is global – not all will come from madison Ave. CLients and agencies who can get best ideas globally will win. Agencies and planners give him his info, no

Print – reinvigorating the industry and making it more exciting. Ads more relevant to you when you’re reading the paper. NYT and Economy. TNS as well

Tim – Clients is where he learns the most. And the NY Post. Future: Huge believe that they’re just starting in search.

events social media speaking TV

Speaking at the Future of TV Conference next Tuesday

My friend Bill Sobel has asked me to co-chair a Roundtable discussion on Tuesday, Jan 22nd around 2pm at the Future of TV conference in NYC. There are some industry heavy-hitters attending, and I’m looking forward to discussing Social Media with some key TV folks and seeing how I can help bridge the old media – new media divide.
It will also be great to work with Bill, who runs the wonderful NYMIEG events series and who has some great insight into both industries.