The Insight Scoop

In a fit of frustration over a particularly tricky (and fruitless) recruitment project, I lashed out in lament—on Twitter. To my astonishment, the micro-blogging (140 characters or less) community immediately rallied and responded to my cry; two experts engaged me directly, and several industry Twitter users began following my posts.

We’ve gradually been exploring using social networking as a recruitment method. Our Twitter account (http://twitter.com/TribecaInsights) has generated some positive publicity and useful connections, but this was the first time a very niche expert was engaged and recruited via this new milieu. I think that a keen foundational notion behind playing with various expert recruitment methods—e-mail, telephone, Facebook, and now, Twitter—is that industry experts—like television-viewers, food critics, university professors and elementary school students—may be segmented. Consumer segmentation, as most companies already know, is increasingly important and relevant to media consumption, sales and marketing as the power of the internet becomes more widespread.

I remember attending a seminar on segmentation and demographics analytics during my days as a publicist. They presented some interesting supporting statistics on the effectiveness of targeted marketing by contrasting the number of magazines and television stations available in 1940, 1960, 1980 and 2000, along with accompanying data on the (impressive) industry revenue generated through spending, advertising, subscription and merchandising. Needless to say, the exponential growth in media options targeted to very specific users (entire magazines devoted to featuring bridal accoutrements for brides-to-be; golfing destinations catalogs for golf enthusiasts; even eerily comprehensive pet parenting periodicals aimed at Labrador owners, poodle breeders, and terrier trainers!) have transformed the formerly modestly-sized media industry to a multi-billion dollar, globally-linked machine.

Applying the same mentality in expert recruiting—by tapping into the social networks and industry-specific virtual communities target experts are likely to frequent—could uncover caches of previously un-reachable, un-discoverable, or un-responsive experts. We’ll be experimenting and finessing our recruiting procedures into the summer—stay tuned for updates!

technorati tags: Twitter

So the next question is: How do you determine your hourly fee? This is one of the most common questions I receive when I speak to prospective Knowledge Leaders on the phone. And my answer is: Most people put between $200-$300. But really, it all depends on how much you feel your input is worth. The fact is, only you know how much experience you have within your industry, and only you can gauge how much that experience is worth in terms of the kinds of insights you might be able to provide. For example, my personal strengths lie in online marketing/advertising, social networking and graphic/web design. I believe I’m pretty current and knowledgeable about these industries, and I’ve also seen them evolve in the last few years. I have some educated guesses as to where they might be headed in the future. That being said, I would definitely pay myself at least $200/hour for my thoughts on these industries’ trends. Then again, I know I haven’t been a professional within these industries for as long as some other people have—that is, 15-30+ years, which is how long many of our experts have been employed within their respective fields—so I probably wouldn’t go above $300/hour.

Someone once asked me, “If the range is $100 to $500 an hour, why would anyone put less than $500?” Well, the truth is, the rate is, in part, a determining factor in the clients’ decision-making process regarding who gets picked for a consultation and who does not. If you put $500 as your rate, you’re indirectly stating that you are an extreme expert in your industry—which is great! If you are. If you’re not, though, you’d be better off choosing a lower amount. We find that a lot of doctors and those with highly specialized skills and knowledge, as well as C-level executives, are the ones who charge upwards of $400.

For those who’ve only been involved in their fields a short time—and by “short time” I mean three years or less—I don’t want you to be discouraged. After all, one has to be a recent college grad or new professional sometime in his or her life. And, as we are looking for variegated perspectives from individuals in multiple sectors of the industries we recruit for, your input is just as valid as that of your more seasoned counterparts. I would, though, if I were you, pick a rate in the $100-$200 range. After all, $100/hour is nothing to sneeze at! Even if the call only lasts half an hour, that’s $50 in your pocket! Let’s not forget that we’re in a recession, people. That $50 can go a long way and, unless I’ve completely been missing out my whole life, you can’t make $100/hour from just sitting around watching television.

And…that’s really it. The moral of the story is: An email from Tribeca Insights is not a scam; use discretion when determining your fee; and, no matter what, a little extra money never hurt anyone (well, except maybe Madoff these days…ha!). Go forth and be a Knowledge Leader!

technorati tags: Tribeca Insights, knowledge is power, not a scam

First of all, I’d like to state for the record that I’m fully aware of why people think we’re a scam or spam. And, while it definitely doesn’t make me happy, or my job easier for that matter, it can’t be helped. See, it’s this: “…an hourly rate that you set–between $100-$500 per hour.”

Now, spam blockers are generally instructed to bar any emails containing monetary values within them, and probably for good reason. I certainly understand that people are wary—after all, I, too, got sick of receiving all those emails from that man in Africa claiming to know my great-grandfather, saying he’d pay me millions of dollars just to help him transfer his money around. It completely makes sense to me and, to be fair, I’d also be dubious if someone, out of the blue, was offering me hundreds of dollars to share my thoughts about my profession or the particular industry I work in. Still, not many people are willing to do anything for free nowadays, right? Especially when that activity takes away from time they could be spending, say, watching television, or playing golf, or shopping online, or walking the dog. You get the idea.

The point is, your time is valuable and we know it, and, therefore, we want to compensate you accordingly. We want you to understand that, by sharing your experiences and observations (sans confidential information about your company!—I cannot emphasize enough how we do not want you to talk about your company’s non-public activities), you’re educating our clients and providing them with the sound knowledge they need to make better business decisions on behalf of their companies. And, given that knowledge is power, you don’t need to be doing that for free.

technorati tags: Tribeca Insights, knowledge is power, not a scam

So you’ve surmounted the fears and doubts, and decided to put yourself out there by registering as a Knowledge Leader. You sprint handily through the basic information sections, like so many New Yorkers through Grand Central Terminal at rush hour. Then you reach the second page, with its harrowing headline: Please include a short bio; and intimidating subsequent expanse of virtual space. You begin to sweat. I don’t know what to write! You feel annoyed. Didn’t Tribeca Insights capture my information already? The blasé sample on the page offers no answers.

Penning a professional personal statement is difficult – particularly when you’re as busy as our Knowledge Leaders tend to be. But it’s important to remember that your KL profile is viewed by our clients to determine both your fit for the consultation and your commitment to the opportunity. If you haven’t already created a biography for your company website or through a networking service like LinkedIn, now’s your chance! We polled our clients and collected some tips on drafting bios with bite –

State your current position and company. The first line of the biography should contain the most relevant professional information you can provide – your title and place of employment. Our clients are busy bees too, and they want to get the information they need to review your qualifications without having to refer to other sources. If you’re unwilling to state your company, or wish to remain anonymous, that’s ok too! Let our clients know what industry you’re in instead, or reach out to a TI associate for assistance.

Be specific. One client tells us that “titles can vary from company to company, so it helps to describe your roles and responsibilities with regard to the industry-at-large.” Remember, our clients are looking to speak with folks who demonstrate industry insight, and an ambiguous gloss-over just doesn’t do justice to your illustrious career.

Be concise. Specificity means giving details, but knowing what kind of coffee you drank this morning or what sports you played in college won’t help us qualify your expertise. Ask yourself what resume points have been most integral to your understanding of your industry.

Be honest. The biography and question fields are deliberately open-ended – we don’t want anybody selling themselves perfidiously for a consultant role. Honestly reporting that you don’t have knowledge of the trends in your industry won’t necessarily disqualify you from a project – besides, there will always be future project opportunities for Knowledge Leaders!

technorati tags: Tribeca Insights, Knowledge Leader Forum