Moran Enterprises: Defining a Marketing Budget, The Clock is Ticking

There’s meaning and value in everything we encounter in our daily lives. In fact, if you fail to find meaning in the simplest and most commonplace of things, then I encourage you to look beyond what you see. I encourage you to see things from a different perspective.

A recent article on BusinessWeek expressed some interesting ideas about Marketing and whether there’s such a thing as a marketing budget. Like Big Foot and The Lochness Monster, some believe a marketing budget exists and some don’t. What captured my attention the most from this particular contribution was perhaps this excerpt below:

There’s no single answer. Marketing budgets can cover a variety of different functions, and can vary widely based on a host of factors. The truth is, nobody—not even the most sophisticated marketers in the biggest corporations in the world—can say in an absolute, objective sense how much their marketing budget should be. The best they can do is evaluate their spending relative to revenue, competitors, historical results, economic conditions, and imperfect measures of return on investment, and go from there.

-Steve McKee, Contributor – BusinessWeek

The entrepreneurial spirit is alive and well at Moran Enterprises today. Perhaps it’s the holiday season and the joyous moments we share with our colleagues and families. Perhaps it’s because it’s Thursday. Regardless, I thought I’d take a tremendous risk and attempt to define a marketing budget for Moran Enterprises.

Bear with me here, I may trip and fall. But I can assure you, I will rise again.

Truth of the matter is that there is no objectively valid answer or definition that defines a marketing budget of an organization. But that may be due to our current view; that a marketing budget is money and not something else. Something more valuable than money.

The author of the article makes a good point. But I believe everyone participating in the discussion may be looking at a marketing budget the wrong way. We’re thinking about budget in terms of money and financials, but a marketing budget is not money, it is time.

The time I speak of is the time spent researching demographics, targeting specific audiences, planning, executing, managing, and collaborating on various internal and external projects. Ever heard a fellow colleague utter these words: “I wish I had more time to do this” or “the day just isn’t long enough”.

Time is every company’s marketing budget. It is the most valuable resource we have at our disposal. It must be used effectively and efficiently to drive marketing and other organizational efforts. An 8-hour work day is your marketing budget. You have 8 hours to devise creative means to reach target audiences and to provide the best and most professional services to your audiences. Every second, every minute, and every hour is valuable. Each minute not spent on organizational efforts is money not well spent, money wasted.

Our lead Financial Officer and Managing Director Victor Moran once spoke about a specific project stating: “That one project ended up costing me $120,000”. I was not sure what he specifically meant until I realized (upon further discussion with Victor) that he was not only talking about money, but more importantly, talking about time. I realized that time can calculate money spent or used and money can equally calculate time spent and used.

Time translates to money. Time transitions to financials, to income, to revenue, to profits, and to success. We had spent so much time on that particular project that the return on investment had not been what we had expected.

In other words, we did not use our marketing budget, our time, strategically and effectively. In fact, we went over the budget, way over.

As you build your own definition for your company’s marketing budget, I encourage you to think about something more valuable than money. Time is more valuable than money. Time is the marketing budget we have at our company every single day we step through our doors. Let’s not go over our budget, let’s use our time better.

Author: Rey Oliva

Blog article in response to “Admit It: You Have No Marketing Budget” by Steve McKee

Social Media and Employee Usage

Social Media and Employee Usage: Say Yes!

Perhaps one of the biggest questions we have as employers is whether employees should use social media networks on the job. The answer is absolutely yes, if it adds value to your organization. As professionals we are given the opportunity to thrive in different environments. In most cases those opportunities are provided by the organization we represent. Are you not proud to say you work for a certain organization? Would you go above and beyond to support their mission and vision?

Let’s find out.

Employers

Organizations are recognizing that social media is a crucial component to the telling of their story. Every organization has external target audiences that are vital components to the success of the organization but what we often fail to realize is that they also have internal audiences. These are the employees. Highlighting your employees’ accomplishments on social networks is a great way to show that you care about them and the communities they serve.

Keep in mind that an organization is not the only entity that has professional networks that reach domestic and international audiences; employees have them as well. Word of mouth can be helpful to supporting the corporate mission and vision, specifically when employees are motivated enough to use their own personal social network accounts to advertise the success of the organization. This is marketing at the forefront and at its best!

It paints a good image for an employee to go home from work and even when off work he or she goes online to interact with the company or its affiliates. They just can’t get enough of you, can they?

Employees

Your journey begins the moment you commit to be an integral part of the organization. You should never take that for granted; as chances are that you were selected over dozens of candidates that were suitable for the position. You are the chosen one! How can you show gratitude? Support your organization in all their matters, including social media.

Take Karen Nilan as an example:

Karen is an advocate of Hope for the Warriors, an organization dedicated to helping veterans of the armed forces realize their dreams. Karen created a twitter account recently and her first tweet was:

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Now examine this tweet for a second. Karen’s first tweet could have been about anything she wanted but she chose to honor the H4W Family. Not only is Karen assisting in raising awareness of the Hope for the Warriors organization (through online marketing) but she’s also interacting with her organization through social media in a way that is incredibly healthy.

And the best part is… you can always be yourself:

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Kathryn Stewart is the social engagement manager for the Houston Business Journal, an organization dedicated to providing communities with the latest business news from various industries.

Katy’s support of the Houston Business Journal online (along with strong support from her fellow colleagues) has created a powerful engine benefiting businesses and professionals alike. Her involvement online has played a key role in the success of HBJ.

Remember to always support your organization with a smile:

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Ky Meyer is a television host and producer of Newsfix, a news segment with a twist, on local Houston television network CW39. Ky is an example of an employee that uses a personal social media platform to advertise the successes of the organization.

Ky’s segment, Tuned-In,  focuses on highlighting local musicians and bands that may not be widely known throughout the greater Houston region or the State of Texas. Rather than creating a generic Tuned-In twitter account to advertise Newsfix and other programs, Ky chose to do it through her own twitter account.

Every post she makes has a positive or inspirational message, which stands as a testament of the kind of employees Newsfix has under its roof. And she always does it with a smile. Seriously count the emoticons!

In Essence

Whether you use your organization’s social media platforms to advertise professional services offered or to showcase great deals online, it is of utmost importance to realize the value and impact your employees have on the organization when they have the opportunity to interact with others in the online communities. It delivers a competitive advantage to the organization that sustains value.

Recently, I sent an electronic message to all my colleagues at work thanking them for their support of the organization online. Remember that no one by any means makes another person do something they wish not to do. Support for your organization should come from within. The passion to see your organization succeed undoubtedly comes from your commitment to the organizations mission and vision. Say yea to success; after all success through motivation, solid work ethic, and unstoppable determination is what makes our experiences as professionals invaluable.

Written By: Rey Oliva

Texas Ministry Conference 2014

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Last Thursday, February 20th; members of Moran Enterprises, Inc. (MEI) were thoroughly dedicated to the Texas Ministry Conference. The Texas Ministry Conference is an annual assembly with “tools and resources for people in all types of ministry and ministry support” such as “churches, schools, and other non-profit organizations”. Over 1,000 attendees filled the venue of Champion Forest Baptist Church to enjoy the “affordable training, educational workshops, quality vendors and sponsors, networking, fellowship and encouragement” that took place throughout the day.

As Social Media sponsors for the 2014 conference, MEI enjoyed interacting with attendees, streaming photos to social media platforms such as Instagram, Facebook, and Twitter. We encouraged participants to share their experiences with the Texas Ministry Conference. Moran Enterprises was also provided the opportunity to speak and teach for the following workshops:

(Session B-20) Emergency Response and Crisis Management: Techniques for Effective Leadership During a Crisis – David Moran & Panel of Experts

(Session C-20) Social Media Management – David Moran, Priscilla Arteaga, & Reynel Oliva

(Session D-20) Defending Your Body, Not Just Your Beliefs: Simple Techniques for Self-Defense – David Moran & Panel of Experts

We would like to thank all the support we received from the members of the Church CO+OP and attendees that made the event a success. During the conference, Moran was giving away gift cards to participants who dropped their business card to join our weekly newsletter. 

Congratulations to our winners:  Teresa Ball from First Baptist Friendswood and Becky Marshall from Champion’s Forest Baptist Church.

To review your experience at the Texas Ministry Conference, Click Here

To review your experience with Moran Enterprises, Inc. at the

CO+OP Alley or to review one of our workshops, Click Here.

*Note: Due to safety reasons you will be prompted to create a Google Mail account (gmail) if you do not have one already in order to review respective organizations and workshops online.

Brand Name Schools Won’t Land You That Dream Job, Experience Will

Since the early years of our lives we are asked what we’d like to be in the future. Some individuals will become decision-makers, leaders, and top executives and others will find their purpose in other areas of work. One thing we must always remember though, school plays a major role in our path to become professionals. We are encouraged from our early years to seek a good education but we’re never truly told exactly what a “good education” entails. The group-think mentality that exists in this day and age is that a good education entails a good school but that would mean we’d have to clearly define the concept of “good school”.

Brand name may look good on paper but it does not tell an employer what kind of work you are capable of accomplishing. Any university that is accredited can be the key to landing that dream job you’ve always wanted or any job for that matter. In today’s world, what matters is what you learn and how you can apply those skills to your future career.

Were you an A or B student in college? Did you graduate with a degree in Business or Natural Sciences? If so, excellent, now show what you can do to improve an organization’s domestic or international influence. Where do you start? You start in school. Research all organizations within your university’s grounds that are involved in community projects and assist them with strong efforts. Chances are these are unpaid but the experience you gain will get you that paycheck you want in the future. After your service has been completed find an entry-level position that is relevant to the industry you represent. Upon graduation you have relevant experience that is required from all employers seeking top talent. In other words you did your homework while in school.

Think about this for a moment. We all have to go through an “audition” process to get into brand name schools or any accredited university. This process involves letters of recommendation, SAT scores, High School or two-year community college transcripts, and sometimes interviews for special honors programs. It’s the same process for an employer which involves completion of training programs, industry certification, and letters of recommendation.

The group-think mentality that should be on every young professional’s mind is “I want to get into a good company.” When I look at a resume and I see that a candidate is from Arizona State University (just as an example) I think nothing of it because it does not tell me anything about the candidate. When I look at his or her job experience and I see that they’ve worked for Fortune 500 companies or influential non-profit organizations or small businesses that completed significantly large projects in their communities, that gives more credibility then GPA or brand name school degrees.

Think about it like this…Is my Bachelor’s Degree in Education from UH-Downtown any different than your Bachelor’s Degree in Education from Fordham University? The answer is clearly no. The difference is one school is well known and the other is known in one region of the nation. Every accredited university offers opportunities to grow as a professional during the process of completion of a degree. It is up to you to research these and take advantage.

What about job titles in different companies? Is my Administrative Assistant position in a small business any different than the same position if I was working for General Electric? The answer is yes because of the size difference in companies and the reach each one has in the regions they occupy. By no means am I implying individuals should apply to jobs without an education. If you aspire to get into a good school then you are displaying your ambition which employers love but the key is to remember that experience gained as you grow professionally holds more value overtime.

Top talent can be difficult to find and in order to stand out from the competition you don’t need a fancy looking resume; you need relevant references, skills, and experience. Be the best you can be and achieve only the goals you can achieve. Remember the concept of “top talent” doesn’t mean a person with a degree from Harvard University or 10 years of professional experience, top talent means candidates whose experience is best suitable for the job in question.