Getting to the future


Image

Everyone thinks about the future. The dreams of the Pilgrims  arriving in Massachusetts are no different from our individual aspirations for new possibilities and changing situations and circumstance. What new freedoms will be there,what will people be permitted to  think, wear, eat, live or DO?

My interests and passions to do what I can now to make things betters isn’t unusual.  The company I keep all agree in increasing possibilities and making changes that benefit more people, not just me and my family.  In the season of thanks giving, I’ve noticed the launch of a series of web sites  matching wishful doers with need serving organizations, and in the process create social impact.  The process used by these sites mimics many of the matching sites, whether its capital rich hedge funds seeking people needing to preserve and grow their capital, entrepreneurs on Kickstarter seeking funds to build their business or start their social impact match service. The technology itself minimizes the value of my personal network by making it possible for me to cast a wider net and build relationships that are not based on naturally limiting, real world contexts that form my identity, e.g. where I grew up or where I went to school, or my cultural, ethnic or religious ties. The stumble upon place or the sophisticated search to match my interests still rely upon individuals’ ability to influence others of the information’s value.  The  technology may be new but these resource matching problems are part of an ongoing cycle that doesn’t change, and the match solutions operate within the same system that create the resource gaps.

 

Where’s the change?

Snow appearing on the ground signals another recurring, predictable change, as does the falling price of the iPhone.  Outwardly, we show signs of adapting to this news.  Where you stand in the continuum of variation in response changes your understanding of the  most predictable of change’s magnitude.  It also explains why not everyone seeks to incorporate or welcome the change in their life.

When the obvious answer satisfies us, we ignore or suppress the possibilities that the change may be worth investigation. Changing temperatures or icy, snowy conditions difficult to miss and though we adapt and incorporate the obvious, we all adapt a little differently.  Our experience colors our understanding and response to the change.  Seekers go one step further.  They consider the choices others make and wonder if that too may be worthwhile for themselves.  They are curious about paths that open further possibilities or improve their status, conditions etc.

Seekers both experience and confirm their responses to transition moments by first learning and listening to others before sharing their own perceptions. Going beyond their  response to the change , they are conscious of the potential ripple effects.  Some look harder to find the likely path, similarly they may try to get out front and position themselves to catch the inevitable fall of the lined up dominoes. They don’t merely watch the event unfold, they try to connect what they see to a range of possible experiences and look for possible variations that happen beyond their immediate vicinity, situation or context.

Reporters,  when covering breaking news for example, share or retell what others experience in moments of change.  Often they are  hip or shoulder deep in the same experience as it unfolds, yet, they leverage and try to take advantage of their experience.  They try to reposition themselves for what will come next.  There’s an art to reporting.  It requires  piecing many different perspectives together to fill in what the participants, experts or contributors immersed in the experience overlook, misunderstand and maybe fail to identify.  Reporters are a special breed.  Their descriptive reporting shortens the distance between their audience’s detached experience and the actions and activity of their present surroundings.  Using their own senses to connect the meaning of other’s experiences they help their audience acquire a more complete, multifaceted view.

Multidimensional matters

Strategists and good consultants do this too. They leverage their experience while keeping one eye on the future.  They also help those stuck in the present to connect, hope and inspire an alternative set of prospects. Their job encourages explorations, cuts the distance between present circumstances, progress and a rosy future  for their client’s clients.  The lookout on the Mayflower merely let others know what was in sight before those on board could see it. No one would call these lookouts strategists, or leaders.  Lookouts can’t inspire people to acclimate, though they do warn them of what’s coming. Inspiration comes from a vision that transcends our fears and our expectations, not an easy task.

Today technology changes and innovations come at all of us faster than our ability to fully digest the last ones. Some of the effects cross connect, meaning that adoption of one makes it impossible to ignore the next.  Speed at which the connections happen make it simpler to stand by  and avoid participating.
No one is every fully ready for the future, but strategists can help in those moments of relentless change. their skills and experience naturally connect the dots, explore possibilities and overcome natural resistance.

Knowing your desires or dreaming about an idyllic world won’t get you to the future, though it is an interesting way to start. Regardless of what comfort level and satisfaction you feel with the changes as they occur in your midst, you need to take a wider view.  Challenge your experiences, raise your sensory awareness levels to uncover more possibilities.  Changing your perspective, point of view or the dimension in which you’ve come at the problem  guarantees your advantage as the future unfolds, and should increase the power of your risk assessment by virtue of your  wider stance.

 

Advertisements

Markets naturally close loops and collapse, can you keep them open?


The more the more

Concepts of interdependent interactions

The current theory about the nature of our universe describes an ever-expanding system.

The Sloan Digital Sky Survey describes the three possibilities pictured on the right as follows.

  • Open, suggests that the universe will expand forever
  • Flat, the universe will also expand forever, but at a rate slowing to zero after an infinite amount of time.
  • Closed, the universe will eventually stop expanding and recollapse on itself,

These possibilities also apply to the concepts of markets, cultures and geography. Yes, I said geography and it is your sense of doubt that both interests me and is the subject of this post.

Life on the Frontier

Ongoing expansion, what I like to call the more the more can be difficult to see; principally because  we recognize boundaries before we understand the opportunity.  What we know doesn’t come to exhaust what’s knowable and often great opportunities present by pushing forward into the unknowable realm. For example, the concept of reproduction naturally creates many from one, ideas too, tend to generate more ideas, one event spawns multiple stories. So why does our mind resist the concept of the more the  more so earnestly?  You did, didn’t you?  In each example, your mind naturally generated the counter case or qualifications that challenge basic beliefs in loose conceptions such as the more the more. Don’t get me wrong, edges prove very useful. Knowing the beginning or that the end is at hand helps, and the more the more merely builds on that realization.

Inability to see an idea’s validity doesn’t preclude its existence.  New concepts find their way into our web of understanding; however more often they are quickly  buried by every day experiences that prove the contrary. Consider the construct, “the United States.” The idea finds expression in a variety of forms, separated by clear boundaries. Which popped for you?  Perhaps the United States appears in your thoughts as a very concrete physical representation such as part of the North American continent, or as an outline on a map. Neither of these describes the emotional representations conjured in the minds of a new citizen, a tourist or a terrorist.

Utility theory by contrast, attributes a root cause to the propagation phenomena that perpetuates an expectation of quid pro quo, Value for Value. I work in exchange for money that I can use to buy things. Economic principles and monetary theory captures much of the same concepts but is a poor substitute for a universal theory.

Specific, General or Generic

Our mind seamlessly associates specific, general and generic cases of a single construct into a curious looking web of meaning.  Some strands loosely connect on the periphery, while others layer more tightly together around a series of cores.  The meaning that first comes to mind, doesn’t negate the others but may need other distant cross-associations to remind us.Experience can obscure our reality

Let’s talk markets. Most of us spend a significant part of our day working, where we work, or what we do represents a market and our labor factors into the dynamics.  We also consume things, and the choices we make on which items, where and when represents our participation in other markets.  For example, urban societies prefer to cover their feet.  The look –structure and style of these coverings tend to vary by climate, activity and gender. Our mind recognizes the common linkage of the numerous names attached to the variations of these objects  that cover feet.  On this level of linkage, we may attach the same basic utility to all foot coverings. That utility takes on more definitions and attributes when we consider our attachment to our culture and desire to fit in. Do foot coverings in India equate to the usefulness of foot coverings in Brazil or New York City? I cheated just now, I interchanged usefulness with utility to help ease your mind.  To validate the more the more try suspending the first boundary you meet and search your memory banks and reach for greater understanding.

Do you feel ready to put that insight to work in your business?  To grow or better serve the marketplace, we often have to re-imagine the boundaries.

If there’s a dominant player in your market, how might redefining the market give you a bigger share?

Don’t let the edges or boundaries you see stop you from challenging the value of this  representation? You don’t have to challenge the sovereignty of the United States to recognize that there are ideas that transcend the concrete borders, and capitalizing on those may help you serve your existing  markets better and expand into new ones easily.

 

Help others tell your story


Every time we open our mouths words come out. But people listen and naturally attend to stories. Really,  they do, they are far more effective, persuasive and enjoyable. let me explain. There is a pattern and a sequence that is far more subtle than merely having a beginning, middle and end. A story is a summary of an experience.

If you are lucky enough to spend time with three-year old children, you will notice that they typically don’t bother with  pretense, they go straight for the action.  They don’t care who as much as what someone else is doing, and then they pretty quickly want to do it themselves. We begin to mimic others as babies and by the time we push past toddling, we have enough language and ability to connect our movements to get what we want or more specifically compels us to do, to take, to grab and engage.

Direct experience in my mind remains  the best way to learn; but it’s also what gives voice to the stories we share. It’s exactly why if you’re not telling stories that your customers, clients and friends can repeat about you, then you are missing opportunities.

I know, because my story is malleable, liquid. It took me a long time to suppress my enthusiasm and obsession with detail to notice that I was losing my audience. Then again, we often are quick to qualify if not underestimate our audience as well by not giving them a clear handle on our interests, capabilities.  A one word label isn’t a story, but a simple gesture generates responses that put you on a path to a shared story.

Map of Chicago's community areas, grouped by c...

Map of Chicago's community areas, grouped by color by "side" (Photo credit: Wikipedia)

A neutral simple question such as where do you live can open or close the conversation.  When people ask me, I try to honor their knowledge by asking a question that helps me formulate a meaningful response.  I could simply answer with the name of my neighborhood, or even the town where I grew up, but very few people find them familiar.  I offer them a couple of larger landmarks or reference points and then lead them to my place.  But I don’t stop there.  Because I want to share a little of how it feels to live with south and east facing windows a mile or so from the center and magnificent skyline that characterizes Chicago,  I paint that picture.  Then I add in something about the diverse ethnicity and history of my neighborhood.  How the first time I stepped out on my balcony, the building was still under construction missing interior walls, and I discovered it was my destiny to live here.  That day in February was typically cold and overcast.  My eyes took in the panorama and tracked past the major intersection, gravitating east and focusing on the storefronts until in the middle of my frame, a billboard separated the street and the dramatic skyline.  For me an iconic image came into focus on this west-facing wall.  The bold black letters read Kaplan’s against a fading wash of yellow.  I suspected it was my great-uncle Dave’s store , which I instantly confirmed with a phone call to one of my older brothers.  I looked to live in this neighborhood because it was near where my mother had grown up, and the coincident discovery that I was between my parents childhood travels I realized I found my new home.

Were you listening? or was your mind painting some pictures?  The brain, cognitive psychologists explain, backed up by work in neuroscience, psychology and economic research, loves stories.  Rather than demanding attention or confronting people with facts and figures to present your case, tell a story.

Help your customers, clients feel at home with you, your products and services by taking them there.  Are you telling them the what, or the hows without the why?  In an era of information and sensory overload, consumers are finding it simpler to control, filter or ignore your message.  The brain’s two systems–the limbic and neo-cortex (or the sensory and thought processors) naturally filter input based on prior experience and novelty .

Think of the limbic system as the bouncer, it only allows the sensory data that passes muster to get through tho the neocortex for further processing.  In those moments where you can’t think straight?  Paradoxically, you must be pretty “safe” or the limbic system‘s antennae would shut down access.  Conversely, our multitasking abilities  support several functions at once, and make it possible for us to daydream while driving, walking, reading , cooking etc.  Data is instantly routed and cues up behavior that after the first experience quickly  reverts to routine processing. Uncannily, we can simultaneously breathe, walk with great coordination, even whistle, listen to birds, notice the flyers and traffic as we gently negotiate our surroundings, think about a novel we are reading,  or dinner scheduled later with friends while half listening to the chatter of a child who is holding our hand.  That is until you’re confronted, disrupted or challenged.  “Are you listening to me?”

The challenges are ever-present. Each of us want our own messages to be heard, our presence known, fully considered; yet we also want some natural escape and respite from the omnipresent sensory assault on our bearings. Story, regardless of the subject or language, our brain finds them comforting.  We relax and naturally attenuate to stories.

More often it’s the emotions not the facts and figures that sway our conscious brain to check in. Few stories in our lives begin with once upon a time or end in happily ever after sentiments.  They don’t need a formula, yet there is a pattern.

This week, Northwestern University’s Kellogg school of Business and Segal Institute of Design hosted a conference.  Academics and business minded professional came to hear about the ROI of Design.  The accomplished presenters demonstrated how their focus on bettering experiential elements created comfortable contexts and reference points of customers and the financial performance gains that followed.  Each presenter shared stories of the transformations in their respective businesses, from the perspective of their customers.

Sure, there is much more to storytelling than discerning a beginning, middle and end. The more we appreciate and acknowledge the value of the experiential elements on our customer and audience, the more stories become the byproduct.  Your customers will be telling and sharing stories about you–what are you doing to help them tell good, if not great ones?

I promise I won’t leave you hanging wondering how to be better at story making, but in the interim go test this hypothesis.  Take some time to be a better listener and surprisingly you’ll discover how you will naturally find a story that matches what you are hearing, but the story will be yours, authentic to you…not because you lived it but you own it.

ROA- getting the most out of your assets


Interest in Generating Earnings?  why wouldn’t you be?

Return on investment after training and resour...

Image via Wikipedia

Measuring hope

If your business found 2011 challenging, the business press heralding the boom in 4Q sales may restore your faith and hope that 2012 may prove to be a better year.  I know the President remains hopeful, as his re-election may depend on it.

More than an uptick in sales needs to support your growing confidence in a brighter future.  The political, environmental and ongoing commodity pricing volatility that occurred in 2011  challenged the most sophisticated analysts and their understanding of cause and effect relationships. This breakdown  in understanding seems to force the hand of management to reassess their own behaviors, expectations and adapt to the new reality that technology enabled connectivity introduces.

I’m not a finance person but too often the media and an organization’s management focus on revenue drivers in their discussion of a firms’ relative performance.  They overlook the significance in which a  firm’s existing resources or assets contribute to realized earnings –though they don’t miss noticing  when the resources drain earnings.

In every business, management sees merit in measuring investments, competitive business activity and computing ratios to test their own relative performance. Other, more peripheral measures however seem to be contributing to organizations that out do their peers if not lead their industry.   What am I talking about?

I’m proposing broadening the strategic applications of  ROA and ROE, or Return on Assets and Equity respectively, as well as ROI-Return on Investment.

Scale and Efficiency

Technical management consultants for decades leveraged their understanding of growth based on efficiency or the inter-relationship between cost, time and output.Think about it, the more you do the same thing, the faster and better you get. Popularized by the likes of BCG, the experience curve framework demonstrates how a competitive advantage results when this value gain accrues to the firm in time making it more capable of increasing its level of output without having to increase its labor costs.

Many organizations benefit from incorporating this thinking into their decision-making and planning.  Experience curve derive easily from existing data, and thanks to champions like Jack Welch, prediction help can be readily found in subcultures obsessed with perfecting scalable efficiency.  Though powerful this approach is not a sustainable strategy.

In 2011, innovation consistently appeared at the top of many a CEOs wish list. The uncertain economy compromised many intentions and capabilities to invest in organizational transformation to realize this new agenda.  Falling profits, reduced stock prices and investment capital dried up. Where or how could a new initiative find finding?  Even if resources could be identified, the nature of innovation incorporates uncertainty.  Few firms are capable of estimating innovation’s payoffs to plug into a P&L model let alone calculate an acceptable,  timely ROI.

John Seeley Brown, John Hagel at Deloitte and Peter Senge, among others, identifies an alternative that uses technology and its ever-growing connectivity.  (see http://www.businessweek.com/managing/content/apr2009/ca2009043_775383.htm)

Six sigma and the experience curve’s efficiency framework estimations project learning curves to flatten or plateau over time (because production and training costs fall off proportionally as total volume accumulates.) Collaborative environments by contrast naturally welcome increased connectivity and impact the growth rate on the learning curve.  In this latter environment, innovation occurs organically. Correspondingly so will returns on your existing assets with little or no additional investment required.  For too long the focus has been to build process around efficiency of scale.  Don’t get stuck in the  that Dan Pink describes as the mismatch between what science knows and what business does.

Appreciating value

Traditionally, returns like savings occur when an underlying investment appreciates in value over time. It can also occur when costs come in lower than expected and create a budget surplus. How often are you measuring appreciating asset values?  If you limit design of your measurements and set corresponding rewards too narrowly, the quality and impact achieved will be equally narrow.

Recently, I sat in on a conference call  while being logged into an interactive collaboration platform called think-tank by Group Systems.  The other participants, primarily  video conferencing system consultants, used ROI to make their financial cases.  The C-Suite teams, always looking for bankable savings, could instantly understand how to self-fund implementing video conferencing using savings they could collect by reduced travel needs.  This approach pressed the comparative price points between the vendors except Group Systems whose presentation surprised me.  They weren’t talking about new installations, but about upping the usage of existing systems, already installed and, sometimes, fully depreciated.  In other words, they sought to convince firms to realize the appreciation in value from their underlying investments and calculate the Return on their existing assets.  For fully depreciated assets, even higher earnings can be realized  merely by changing internal operating behaviors.

In an environment where investment capital is scarcely flowing, the need to understand ROA  and raise its profile among all levels of management offers some interesting opportunities.  The number of desktops with intranet access within your organization offers the best start.  Chances are your IT department has plenty of tools at its disposal that with  support from training , leadership and example from senior management, together could release a sea change in communications, boost productivity, generate measurable return on human capital and offer additional cost benefits.

A lesson in Magnitude

Beyond your IT department who is looking at the volume of internet related activity or even monitoring the communications activities within your organization?  Perhaps your administrator or facilities staff track the usage rates of your conference rooms.  What do either of these volume metrics offer by way of generating insights  to your organization on how work gets done, or the efficiency and effectiveness of internal communications?

The Following statistics are offered as a  perspective frame for  technology enabled changes in communications.

  • There are close to    1.97 billion – Internet users worldwide and 1.88 billion email users (June 2010).
  •  25% of all email accounts are business accounts and
  • Corporate users typically send and receive about 110 messages daily—18% comprising both real spam and “graymail” (i.e. unwanted newsletters, alerts, etc.).  (see  The Radicati Group, Inc  reportas of April 2010)
  • 73 percent of Americans use their mobile handsets for both text messaging and picture taking. (see The Pew center for internet research report).

Note that in the wider world,  people are communicating in greater numbers on platforms other than email.

175 mill

600 mill

1.88 bill

1.97 Bill

Twitter

Facebook

Email users

Internet users

Sep-10

end of 2010

end of 2010

Jun-10

I’m betting that your communications behavior is one sure source of inefficiencies in your organization.  Try studying the electronic trail of decision-making, project management and progress reporting that transpires on redundant email threads and see for yourself.  Alternatively, if your office inbox has any message threads in which you are one of a series of recipients…chances are great that you’ve identified a large source of communications inefficiency, confusion and  redundancy.

Communicate to further learning

How many conference rooms or meetings, principally focus on getting work done vs. updating project or activity status? Cristobal Conde, CEO of Sungard in a New York Times interview articulates not only how to reap the time-saving benefits  micro-blogging offers, but  how deploying Yammer  (an enterprise social network like Twitter) across his organization was a boon to overall performance.  (http://www.nytimes.com/2010/01/17/business/17corner.html) He gladly swapped the hours on his schedule tied up in meetings to review results for time spent in the field talking directly to customers and clients, or helping teams solve problems.  How did he do it?  Leading by example–using SMS and the open accountability from shared, real-time BI.  Meetings were now always working sessions, never updates on project status.   The phrase Time is money takes on new meaning when considering people’s  time as a valuable asset and as such should waste it with activities or behaviors that fail to offer measurable returns.

Now,  I’m not suggesting a return to the days of time and motion studies to extract every ounce of productivity.  Rather I am suggesting that injecting some new discipline will generate returns and rewards that don’t all directly hit the bottom line.  How much continuous learning is going on in your organization?  I’d love to learn how others are acknowledging or even tracking that learning.  Impersonal  communications  or skipping direct interpersonal engagement deprives people and organizations  alternative perspectives and perceptions–the critical catalysts that lead to innovation.  Unlocking the thoughts and migrating the energy expended on routine note-taking, or email dialogues into a think-tank, such as group systems virtual collaborative platform  guarantees to accelerate results.

I’ve had the pleasure of collaborating informally with several different professionals who all understand the value of experience to differentiate and rank preferences.  One of the  more valuable insights helped me to understand that when we share news, we often intend to increase our knowledge or further our learning.  The more we all know that more likely we are to make use of that knowledge to mutual benefit.

Try focusing on optimizing learning efficiently  and you may surprise yourself with the value add that results.

Is it Too Late for a Web Strategy?


Old spice man

If you don't know this man, then you're missing out on one of the more popular twists in popular culture and marketing of 2010. 

This is the Old Spice campaign's man of mystery.  Intentionally I did not insert the web video, nor am I interested in chasing down the viewer stats, though sales report isn't great.  It's here because the ad reference exemplifes multi-channel linked marketing strategy and came up  in last Friday's monthly Chicago Booth Alumni Club's Discussion around  Strategic Management Practices.

Wearing my research hat, and doubling as a typical consumer, the first place I turned to find the reference was to type the key word phrase "old spice man" into my google search bar located at the top of my web browser. My search was not to purchase, engage in conversation or to gain proximity to someone with product experience –that would need  some different key words.  The campaign as well as my search process shows the evolution of the internet and the effect of its influence in our lives.  The shifting trends exhibited below in this wonderful chart  was the focus by Chris Anderson and Michael Wolff in the provocatively titled September 2010 article in Wired The Web is Dead, long live the Internet

Internet traffic trends 2010

CISCO compiled data using the Cooperative Association for Internet Data Analysis (CAIDA). The chart suggests that Video and Peer to Peer traffic is increasing while the use of the world wide web is declining.  This data is somewhat misleading and the chart's suggestions that mobile apps, and other specialized channel options, will displace the web browser  is not so clear-cut.

Is this graph a credible and reliable translation of the geek speak from  CAIDA?  A more recent  analysis than what appeared in Wired, expresses the following:

" Continuing its growth in traffic, connectivity, and complexity, the current Internet is full of applications with rapidly changing characteristics."

Overall, CAIDA has found that traffic on the internet continues to grow,  which is not adequately represented by the two- dimensional graph CISCO and WIRED depicted. Growth does accurately reflect the transition and growing emergence of traffic off the world wide web and into  alternative internet based transmission paths (e.g. mobile based and other applications that allow real time streaming).  

This same transition mimics strategies used by effective  marketers who link the brand messages and campaigns across  multiple media platforms.  Key words provide the bridge. The more consistent their use across the growing number of media platforms,  the more certain an organization's promotion efforts will  intersect key consumer touch points on or offline.   Ideally, consumers pick up these same key words  and carry them across other natural communication channels, further enhancing the brand's reputation and in theory  increasing sales.

If your business is selling Search Engine Optimization (SEO) this emphasis on key words appears  great for business. It's not however where a capable marketing strategy should invest the majority of its budget.  Not merely because there is some danger to pursuing this strategy (see the The dirty little secrets of search in last week's New York Times); but the greater, more complex objective is reputation management and not key word optimization.  

 Historically, brand owners/creators controlled media messaging and placement.  To successfully sell, you "paid" for the privilege of being placed in front of consumers walking through the yellow pages or by a billboard, listening over radio/TV  or their eyeballs scanning newspaper or specialty publications. Product packaging, placement and promotion  are often  budgeted separately and only occasionally linked for a "special" promotion (e.g. cause marketing or a contest).  The rise of the world wide web, added the category of "owned" media to the marketing mix and budgets had to cover the cost of website development, content writers and traffic analysis, including SEO.  With Social Media, a third area– "earned" warrants increasing budget and management attention to monitor the customer-created channels and chatter of your brand enthusiasts  as well as brand detractors. (see complete description in Branding in the Digital Age by David Edelman). 

 The Edelman article's case study of a TV manufacturer across one touch point within the wider consumer decision journey proves far more  instructive than my earlier reference to the Old Spice ad and its multi-channel focus. 

"A costly disruption of the journey across the category made clear that the company’s new marketing strategy had to deliver an integrated experience from consider to buy and beyond . In fact, because the problem was common to the entire category, addressing it might create competitive advantage."    

Unlike Old Spice, the manufacturer opted to shift the marketing emphasis away from paid media.  Focusing on owned and earned media seems to enhance the effectiveness of their key words and multi-channel linkages, and engage traffic where it mattered most at the buy, and enjoy, advocacy, bond  touch points. This is not a prescription for all brands, but the case is instructive in identifying the disconnects and deficiencies in common web based strategies, or even of marketing extravaganzas disconnected from the ongoing conversations that are circling your business, product and/or brand.

Whether or not you belief in Chris Anderson's prognosis about the death  of the Web or buy into David Edelman's Consumer Decision Journey research, few organizations appear to have fully leveraged these changes.  Increasingly, an ability to execute and efficiently allocate resources to address the demands presented by the growing number of communication channels  will  distinguish successful companies from their competitors.  The changes create more opportunities for strategy to take a more commanding role in managing and driving the combined efforts, either internally or with the help of outside specialty firms.

Additonal Discussion Take Aways

  • Social networks are informative, free sources of intelligence that naturally build out and generate mutual trust and benefits to buyers and sellers. 
  • The role of the marketer is merely to influence and no longer the producer/director of the brand experience.
  • The responsibility for marketing  is changing and increasingly is upending internal role limitations  and requiring participation from unlikely sources e.g. corporate governance, communication standards and guidelines.  Employees share roles with customers and the more acquainted with internal policies, strategies and planning the more they can aide and assist in  wider message consistency. 
  • Authenticity has become ever more important.
  • Fluidity and increasing knowledge of terminology around the digital communications space is a valuable skills set…not just for marketers and IT folks. 
  • As reputation management rises and people do business more and more with the people that they know,  is there anything really being created of value, and are other marketing and sales efforts as necessary?
  • How do these lessons translate or enhance B2B sales? 
  • It's not the web vs. the internet differentiation that matters, as much as recognizing how one innovation(social media)  has brought into focus an array of  deficiencies and gaps within an organization (marketing departments) as well as an industry (e.g. advertising) The challenge is how to best integrate the old with the new. 
  • In the end, the prescription to know your customer before creating your strategy remains the first and foremost lesson. Knowing what your customer wants will always be helpful but successful business requires more.
  • True differentiation in products being marketed remain beneficial but the emphasis should be toward innovation in developing products. 
  • Important to remember the shape of the adoption curves with new technology and Chris Anderson's point that new doesn't replace old. New merely creates more table space to accommodate more preferences.  The challenge is the frequency we change, resort and revisit our marketing activities and resource priorities. 
  • Both  articles confirm the importance of social media and keeping up with changing technologies.  They also call attention to the  the challenges organizations  face in trying to bring them together  to create successful communities around their products and/or brands.

 

Any added thoughts, perspectives or cases are welcome.

Added citations

Edelman makes some of the same points in this article:

Four ways to get more value from digital marketing

By David C. Edelman, McKinsey Quarterly, March 2010

https://www.mckinseyquarterly.com/Four_ways_to_get_more_value_from_digital_marketing_2556

 

Trust Agents, Using the web to build Influence    by Chris Brogan and Julien Smith

NOW Revolution, 7 shifts to make your business faster   by Jay Baer and Amber Naslund