Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Wednesday, April 6, 2016

Are B2B and B2C Marketing Converging? Hardly.



Gary Slack provided today's post. He is chief experience officer of Chicago-based Slack and Company. Ad Age named the firm as a runner up for B2B Agency of the Year in 2014.

Hardly a week goes by without someone saying the worlds of b2b and b2c marketing are converging.

For this claim to be true, nothing less than the following would have to start happening.

Boeing would have to start buying jet engines on impulse.

Police and fire departments would have to switch to other brands of first-responder radios on mere whims.

Coke would have to start reformulating sodas with new ingredients procured with little or no due diligence.

Of course, were this all to start happening, pigs would be flying, too.

Consumer and business purchasers and purchases are just too different—always have been and always will be.

It’s not that b2b buying is more rational than consumer buying. In fact, it may be more emotion-wracked—the emotion being fear of making a bad decision.

That's why tier 1 suppliers, a la the IBM of old, are so lucky. As the "safe bet,” they get a pass a lot of the time, while lower-tier suppliers have to try harder.

But CEB research shows there can be a more positive emotion involved, too—the pride of making a good decision and the career enhancement it can generate.

In fact, CEB says the personal value of making a good b2b buying decision is twice as great as the business value.

So b2b buyers aren't automatons—they are people, too, as our agency’s ad here explains.

But exaggerated praise, or puffery, the province of so many consumer marketers, won't work with b2b buyers.

With their careers and livelihoods at stake, they need loads of convincing and months and maybe years to take a chance on another supplier.

And that's the extra fun and formidable challenge of much b2b marketing—and why it'll always be very different.

Tuesday, March 29, 2016

Happy Accidents

Christopher Columbus discovered America while seeking a sea route to Asia.

Alexander Graham Bell was hoping to help teachers of the hearing impaired when he stumbled on the telephone.

Three PayPal employees built YouTube to compete with the dating site Hot or Not.

Objectives feel good, but accidents often outshine them, as researcher Andrew Smart says in
Harvard Business Review.

"Our objective obsession might be doing more harm than good, causing people, teams, and firms to stagnate," Smart says.

Statistics and stories about inventions prove that.

"Reports indicate that half are the result of not direct research but serendipity—that is, people being open to interesting and unexpected results."

Smart says we should ditch all the goals for "detours" that might lead to "something new and interesting."

"The more time we spend defining and pursing specific objectives, the less likely we are to achieve something great."

Saturday, March 12, 2016

No Agony, No Ecstasy



Like popes of old, today's venture capitalists have no patience with the tortured perfectionist.

"Perfection has no business in the world of entrepreneurship," Charlie Harary says in Entrepreneur.

Today's marketplace is "supersonic," so entrepreneurs must tightly cap opportunity costs—and quality.

He quotes LinkedIn founder Reed Hoffman: "If you are not embarrassed by the first version of your product, you’ve launched too late."

Products need only be "minimally viable," Harary says, and businesses thick-skinned.

"A little criticism or failure never killed anyone. Learn to embrace it and use it to make you great."

In other words, scrap excellence for the quick buck and one day you, too, will run a respected company.

This wolfish mindset explains why so many of the apps we buy are broken; the books, riddled with typos; the drugs, full of dangerous side effects.

It's not because we lack talent.

It's because we're in such a goddamned hurry.

As novelist Irving Stone said in The Agony and the Ecstasy, “Talent is cheap; dedication is expensive."

Tuesday, March 1, 2016

Containers of the Past

For nearly 200 years, Americans used stoneware to keep perishable food. It was, in fact, the predominant houseware of the 19th century.

The ceramic containers were heavy and expensive to ship, so stoneware potteries cropped up everywhere to serve local markets.

But after 1913, when refrigerators were introduced, the once-ubiquitous potteries sputtered and failed.

You could say, refrigerators had a chilling effect on the stoneware business.

Today's refrigerator is, of course, the smartphone, as this week's Mobile World Congress makes clear.

And, as the event makes clear, the business without a mobile strategy today is the stoneware pottery of tomorrow.

As ad agency exec Rishad Tobaccowala says, "The future doe not fit in the containers of the past."

What's your mobile strategy?

Tuesday, February 23, 2016

Where Do You Draw the Line?

Admirable work only results when creatives draw the line, Seth Godin says in his recent post, "Milton Glaser's Rule:"

"There are few illustrators who have a more recognizable look (and a longer productive career) than Milton Glaser," Godin says. 

"Here's the thing: When he started out, he wasn't THE Milton Glaser. He was some guy hoping for work.

"The rule, then, is that you can't give the client what he wants. You have to give the client work that you want your name on. Work that's part of the arc. Work that reflects your vision, your contribution and your hand.

"That makes it really difficult at first. Almost impossible. But if you ignore this rule because the pressure is on, it will never get easier."

Agency exec Bill Kircher (my former boss) used to spout similar adages when the pressure was on. I'll sum them up in a rule I'll call "Kircher's Law:"

Whenever an agency bows to a client's creative direction, the probability of later incrimination approaches 100%.

Although creatives are quick to cite their duty to themselves, the truth is, every professional shares the right to draw the line.

Remember the film The King's Speech

Early in the story, the therapist draws the line with a haughty Queen Elizabeth: "Sorry, this is my game, played on my turf, by my rules."

But with prerogative comes accountability. You can't have your kingly cake and eat it, too. 

Do you:
  • Respect everyone, coworkers and clients alike?
  • Arrive on site ready to work?
  • Tackle chores that need to be done to stay in business?
  • Avoid short cuts and excuses?
  • Learn from mistakes?
  • Consider how your decisions affect the company, not just your department or career?
  • Speak truthfully and with the passion of an owner?
Do you—where do you—draw the line?

Saturday, February 20, 2016

Do You Chase Butterflies?

Remember the sunny feeling you had as a child when you chased butterflies?

If you do that in business, you're begging for trouble.

In a recent blog post, event-design guru Jeff Hurt laments the fact that most workers sacrifice impact for busyness.

"I’ve seen way too many professionals addicted to cleaning out all the emails or making progress on their list of tasks instead of spending time doing the right thing," Hurt says.

"We’ve got to retrain our brains that strategic thinking first is more important than a check mark. We’ve got to rewire our brains to realize that strategy leads to more success than our busyness."

I've witnessed another, equally toxic habit that plagues many professionals, particularly senior executives, marketers and sales managers.

That habit is chasing butterflies, the mindless pursuit of fugitive opportunities; an addiction to chasing every papery grail of growth that happens to flutter by (usually far off the path of the core business or audience).

Like busyness, chasing butterflies feels good.

Focus, its opposite, doesn't—especially when there are so many lovely distractions about.

Focus isn't easy. 

Focus isn't fun.

But it's a habit you have to adopt, if you want to have impact.

Just ask Marissa Mayer.

Sunday, January 31, 2016

Go Ahead, Back Up

As January's "Snowzilla" bore down on the Nation's Capital, the head of DC's Metro told The Washington Post it was wiser to shutter his incompetent agency during the storm than tread "a false floor that everybody knows is false.”

While candid, the exec's expression of foreboding " may not soothe the frustrations of stranded customers," The Post said.

It's easy for customers to blame failures of government on lack of drive (in fact, it's a hobby of mine).

But then you can't explain the shipwrecks of driven profiteers like Target, which last year lost $7 billion on its calamitous rollout of Target Canada.

Its also easy for customers to blame failures of government on "pointy-headed" government execs. 

But then you can't explain the blunders of smart CEOs like Carla Fiorina, who halved HP's stock value while she ran the company.

So what's to blame for systemic failures—both public and private?

As turnaround experts observe, it's leadership's refusal to abandon a strategy that simply doesn't work (like the one illustrated in this insightful video). 

Saturday, January 30, 2016

On-Demand Undermines Even Investors

In the 19th century, an enterprising forebear of mine owned a block of houses in the mining town of Franklin, New Jersey, that he leased to workers.

Unbeknownst to the workers, he also leased his mineral rights to the local mining company, which promptly dug a shaft beneath the houses.

According to family lore, my forbear had to skedaddle one dark night, when all the houses and their occupants vanished in a mine-shaft collapse.

Lesson learned.

When investors undermine workers, everyone gets the shaft.

The halo's fast falling from the Uberization of work, Caroline Fairchild writes on LinkedIn.

Millennial entrepreneurs are shifting workers from 1099 to W-2 status, because they're learning that, to succeed, they have to do things like train people and ask them to show up at 9.

You know, 19th century stuff.

As Fairchild shows, on-demand startups that want to appify black markets in everything from home delivery to hospitality face harsh critics.


"As these venture capital darlings walk the fine line between saving on labor costs and breaking the law, regulators and politicians are watching, and critiquing, their every move," she writes.


"The lines being drawn here raise critical questions: Should workers embrace the freedom the digital world offers? Or should they try to hold onto the rights that their predecessors fought over 100 years to win? Is this new economy moving us forward or backward?"

Forward or backward? What do you think?

Thursday, January 21, 2016

Marketers, You Have Work to Do

The second in a two-part series, today's post was contributed by Margit Weisgal, author of Show and Sell: 133 Business-Building Ways to Promote Your Trade Show Exhibit. She writes for The Baltimore Sun.

“If it weren’t for customers, we could get our work done.”


Adults indeed say the darndest things.

Don’t you wonder how some companies stay in business? They spout platitudes about how much they care about you and that customers are paramount. 

Then they go and do something incredibly stupid.

Here's an email I received recently (identifying information deleted):

Thank you for contacting us. As for as why our department does not receive incoming calls, there are many reasons. The greatest of these reasons is that if they were required to answer phone calls in addition to their paperwork that is sent to them every day, they would have a much more difficult time processing the requests they receive. Please be patient as our department looks into your request. Thank you and have a wonderful day.


In other words, paperwork trumps customers. 

It’s marketing’s job to make sure there is consistency in everything a company says and does.

Marketers, you have work to do!

Wednesday, December 23, 2015

Disruption is for Idiots

Technology journalist Michelle Bruno's most recent article, "What Disruption Really Looks Like," prompted me to phone her. 

In the course of our conversation, she asked me why tech company executives—disruption's tireless cheerleaders—so often rest on their laurels.

In my answer, I fell back on one of my favorite words, hidebound.

Tech company execs who succeed, with few exceptions, turn hidebound; and their standpatism leaves their companies exposed.

Hidebound is often applied to larger-than-life figures of military history.

Major General Ambrose Burnside, a West Point-trained insider, was one.

In December 1862, he caused 13,000 casualties in one day, when he threw his troops against Robert E. Lee's entrenched Confederates in two assaults at Fredericksburg.

Burnside wasn't an idiot. He simply assumed he could use tactics that had worked for his century's greatest soldier, Napoleon. But Napoleon's soldiers faced smoothbore muskets, not rifles.

Too bad he wasn't an idiot.

Like all West Point insiders of his day, Burnside was blind to the effect of a disruptive change in technology.

Idiot comes from the Latin word idiota, an "outsider."

Disruption takes an idiot: an outsider unschooled in the assumptions, unversed in the tactics, and unacquainted with the rules, the business models, and even the names of the players.

The insiders are all hidebound.

Disclosure: The hero of Michelle Bruno's extraordinary story is my employer.

Saturday, December 12, 2015

Child Speed

Every week, my two-year-old granddaughter dashes past another developmental milestone.

She's unafraid to ask questions or state her observations. 

For their part, the googly-eyed adults around her make a willing audience. 

Of course, it does't hurt to be adorable.

Eighteen years ago, designer Bruce Mau wrote his 43-point Incomplete Manifesto for Growth to inspire the designers in his studio in Toronto.

Point 15 of the Incomplete Manifesto reads:

Ask stupid questions. Growth is fueled by desire and innocence. Assess the answer, not the question. Imagine learning throughout your life at the rate of an infant.

Were it possible to learn for a lifetime at my granddaughter's present speed, we'd all be geniuses. 

Unfortunately, brain physiology holds us back.

In fact, most minds fossilize before their owners turn 30.

But destiny shouldn't deter you from asking stupid, innocent, childlike questions.

Who knows?

Once in a while, you might get an adult answer.

Disclosure: Bruce Mau is now my employer's Chief Design Officer.

Sunday, November 1, 2015

Wheel of Fortune

My maternal grandfather, a watchmaker, survived the Great Depression by operating a carnival wheel in an amusement park in Newark, New Jersey.

Today, the wheel hangs on a wall in my home, a gaudy artifact symbolizing weird work and small wagers, and the legacy of a man whose real trade was time.

Most of my grandfather's biographical details are lost, but at least one is clear: despite the Depression, he stayed in the game.

Fortunate are the people who—as he didshow up, learn new skills, take risks, think weird.

They don't surrender to the feeling they're hostages or has-beens. They choose instead to be bootstrappers.

Right now, two generations, Millennials and Boomers, are joined at the hip by the prospect of near-poverty.

They're placing bets on the next spin of the wheel.

The bootstrappers are mastering new, adaptive skills. 

The rest are at home, consuming games and gameshows.

Which are you doing?

Saturday, October 31, 2015

Terms of Endearment

The role terms play in the marketing mix isn't discussed outside the pages of the Harvard Business Review.

But your terms matter to prospects.

Here's a case study.

Recently, Bob (yours truly) shopped Craigslist for the services of a freelance editor, on his employer's behalf. Based on his Craigslist ad, Steven seemed a capable choice. Bob phoned Steven, described the project, and sent him background materials.

Below, verbatim, is their email exchange immediately after that call.

From Steven to Bob

I've read over the attached documents and have a good grasp on what you want in terms of the scope of the editing. I can realistically accommodate the edits for the 400 documents you've stipulated for $475 and have them ready within your two month time-frame. Or, if you'd like them ready within one month's time, I could accommodate that for $599. Just let me know which option you choose. Also, if there are any other stylistic recommendations you have for the revisions go ahead and send those over to me. I accept Google Wallet for payment. To proceed, go ahead and send your payment, via Wallet, to me and then I can confirm, put this on my schedule and get started.

From Bob to Steven

Wow, I think you are underpricing this project. A few thoughts:
  • How much time do you think you’d devote to each document?
  • Advance payment on line won’t work. We can pay in installments or a lump sum, but only as satisfactory work is delivered.
  • Doesn’t the style guide I sent you make clear the “stylistic recommendations” desired?
From Steven to Bob

You're right. I sent you a quote meant for a different client. Realistically, I could accommodate this within 2 month's time for $3,500 or within one month's time for $3,999. However, I do not accept checks (they have that pesky ability to bounce...) and I do not do work without a payment, or at least a serious deposit, in advance. You came to me so please abide by the processes that I work by. Otherwise, I'd have to deny this request due to lack of seriousness. The only other payment methods I accept are Square Cash, Chase Quickpay or bank transfer.

As the Harvard Business Review might put it, "Steven's terms erected a considerable obstacle to Bob the Buyer's consideration."

By insisting on online prepayment, Steven demonstrated he works only with students and, perhaps, the occasional entrepreneur. He failed to grasp, in this case, his prospect represented an 88 year-old, multibillion company with customers like McDonald's and Microsoft.

The rest of their email exchange follows, again verbatim.

From Bob to Steven

No thanks, Steven.

From Steven to Bob

No skin off my nose. You're obviously a joker or a scammer. Before you waste more time trolling the Craigslist ads like a desperate prostitute, you should know that no self-respecting professional is going to be doing any work without payment upfront. Perhaps if you weren't a senior citizen you'd realize this is how commerce in the 21st century works.

Do your terms cost you customers?

How about your manners?

Friday, September 25, 2015

Mindblind

Why does every management consultant want executives to become "storytellers?" Why does every grammarian want businesspeople to "write like you're having a conversation?"

Mindblindness.

Also known as the "curse of knowledge," mindblindness grips you when you know so much about a subject, you can't see it through the eyes of anyone less informed.

When you're mindblind—when can't imagine life for those who don't know what you know—you can't communicate why or how others should follow your directives; and you can't write (or speak) with clarity or concision.

Mindblindness produces not only unrealistic expectations ("We always delight our customers!"), but blame ("You slackers, you disappointed our customers!").

Mindblindness is a primary reason leaders fail, and why so much business writing stinks.

It never occurs to the mindblind that others aren't up on the latest jargon and grasp the steps too obvious to mention. So they don't bother to explain the jargon, spell out their logic, or supply details.

Philosophers call extreme mindblindness "solipsism," the belief that nothing exists outside your mind.

Bertrand Russell said that, although it could be true, solipsism should be rejected because it's easier to believe the external worldincluding other people's mindsexists.

“As against solipsism it is to be said, in the first place, that it is psychologically impossible to believe, and is rejected in fact even by those who mean to accept it," Russell said. 

"I once received a letter from an eminent logician, Mrs. Christine Ladd-Franklin, saying that she was a solipsist, and was surprised that there were no others. Coming from a logician and a solipsist, her surprise surprised me.”

Sunday, June 21, 2015

To Spur Innovation, Sponsor Playtime

Do deadlines breed innovative work?

Rarely, say most organizational behaviorists.

That's because creativity results from the playful association of ideas.

Deadlines dampen that play.

While they drive workers to work harder and longer—and even lead them to think they're innovating—deadlines, in fact, kill creativity.

To lessen deadlines' deadening effect, behaviorists suggest bosses:
  • Set deadlines that allow for playtime—and build some into every week

  • Shield workers under deadline from interruptions

  • Help workers understand why particular deadlines are mission-critical

Tuesday, December 24, 2013

What's Hot for 2014?

According to this year's AP-GfK's General Social SurveyAmericans don't trust each other.

The 2013 poll shows only one-third of Americans think they can trust their fellow citizens, down from one-half in 1972. 

A record high of two-thirds of Americans are suspicious of others.

That's bad news for marketers, who rely on customers' trust to offset their uncertainties.

The AP-GfK poll results come on top of more bad news from the CMO Council, whose 2013 B2B Content Survey shows buyers are largely skeptical about marketers' content.

Trust will be the hot issue for 2014.

Trust me.

Monday, April 15, 2013

End Sloppy Emails


When I first entered the workforce, no one would dare send a written communication (we called it a "memo") without prior review by the boss.
Business ran according to military rules (in fact, many of the bosses were former military officers). 
Those days are long over.
"A new status symbol in today's generally more egalitarian business environment has arisen: sloppy e-mails," says consultant Keith Ferazzi.
Writing for Harvard Business Review, Ferazzi recommends these four tips for ending sloppy emails:
Empathize with readers. Too many writers lack empathy for their readers. When writing an email, "use respect, positive affirmations, and gratitude to set the right tone and proper context." Your writing will display more empathy if you "visualize that individual in his office as you send him an e-mail."
Appreciate different styles. "We all tend to prefer a certain 'language' for communications at work," Ferazzi says. Some people prefer numbers; some, pictures; and others, stories. Appreciating others' styles improves your ability to communicate and reduces the likelihood of misinterpretation.
Spell things out. "We often communicate less information than we think we are, a syndrome psychologists call signal amplification bias," Ferazzi writes. Make descriptions and instructions clear and complete.
Respond promptly. Readers care not only about content, but about the promptness of your replies to their emails, Ferazzi says. "When your reply is tardy, the other party is left wondering whether you value that relationship or not."

Friday, March 15, 2013

Nonprofits and Noble Cause Corruption


Washington, DC (where I live and work) is the cradle of cause-related nonprofits.
The majority do great things, no doubt.
But I've also seen the dark side of a few of these organizations.
Some never pay their bills and don't think twice about stiffing honest, hard-working suppliers.
In fact, I've seen so many defaults by cause-related nonprofits, I won't take work from them.
Call it holier-than-thou zeal, if you want. 
I think the better term is noble cause corruption.
Noble cause corruption is a form of "police crime" in which cops break the law in pursuit of a goal they believe will benefit society at large.
A common example: fabricating evidence to ensure a conviction.
Noble cause corruption may serve society. 
But it can just as easily lead to the punishment of innocents.
Do you work for a cause-related non-profit? 
If so, have you checked your accounts payable lately?
With apologies to Eldridge Cleaver, if you're part of a solution, you may be part of a problem.

Wednesday, March 13, 2013

Is Your Sales Presentation Dangerous to Your Health?

Most sales presentations backfire, says Tim Riesterer, coauthor of Conversations that Win the Complex Sale. That's because most salespeople are:

Blabbermouths. They over-pack presentations, believing customers want to know everything. "In reality, the more information you insist on giving your prospects, the worse you can make it for yourself," Riesterer says.

Self-absorbed. Customers want to know what you've learned from other customers. But sales presentations always begin elsewhere. "You will tell them all about you and your company and why your products are best," Riesterer says. "You will also include the obligatory map of the world with your locations; the entire range of the products and services you provide; and the logo slide showing all of your clients."

Bland. Most salespeople fail to contrast their offerings with competitors'. As a result, customers zero in on price. If you don't offer a unique viewpoint, Riesterer says, "you've fallen into a bake-off where everyone is presumed to be exactly the same."

To avoid these pitfalls, Riesterer recommends:

Focusing your presentation on issues and trends. Couch your presentation in terms of the things that worry customers and threaten the status quo.

Differentiating your products and services from competitors'. "Prospects want to hear your distinct point of view on the potential challenges, threats, obligations, or opportunities that put their objectives at risk," Riesterer says. "And, to reach a decision, they want to clearly see a difference between what you offer and the competitive alternatives."

Monday, March 4, 2013

Always Be Opening

Drive author Daniel Pink's new book draws on a decade of social-science research to topple worn-out beliefs about sales.

The books is a must-read for every marketer.

To Sell is Human makes the case for moving beyond used-car "hoodwinkery" to embrace a kinder, gentler form of persuasion.


Pink argues that we should replace the A-B-C made famous by Glengarry Glen Ross, "Always be closing," with an up-to-the-minute mantra he calls "Attunement-Bouyancy-Clarity."
While I can't imagine Alec Baldwin barking this to the troops, the formula works.

By Attunement, Pink means ceding power to prospects, to a degree that would make Baldwin-esque closers quiver.


By Bouyancy, he means remaining upbeat despite rejection, not with Tony Robbins CDs, but through "interrogative self-talk."
 
By Clarity, Pink means identifying problems instead of "selling solutions."
 
Pink expertly supports his ideas with experimental results and salespeople's anecdotes, offering throughout the book tons of tips for putting them into action.
 
The third and last part of To Sell is Human rocks.
 
In it, Pink explains how to pitch, both in person and in writing. His instructions for pitching are clever, simple and exceedingly original.

PS: Don't miss Dan Pink's guest post on writing effective emails

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