Aug 5, 2010 | Communication, Social Media, Strategy
Access to information before anyone else has it is Gold, access at the same time as everybody else is just staying in the game, essential, but it will never be a winning edge.
A small advantage at some point, can be built into a substantial advantage quickly as the value of the unique information enables leveraging before it becomes common, and the access/leverage equation scales up with use.
Information is only of value when it is used, pretty obvious, but often missed, and the more it is used, the greater the value, unlike physical assets that depreciate with use.
Aug 3, 2010 | Branding, Communication, Customers, Marketing, Sales, Social Media
Social network marketing is a fundamentally different beast to “traditional “marketing. When talking to marketers, they usually see social media as being in effect free, the challenge is to get the message spread, often by being outrageous, generating awareness for little money compared to traditional media.
To my mind, it is much more complicated than that. “Word of Mouse” on social media has to be earned, and that is really challenging, requiring intimate knowledge of the marketplace, customers, their behaviour, and what is likely to positively engage them. Traditional marketing makes it easy to gain a general level of awareness, you just have to pay for it, but like most things that are easy, the return is very low.
Aug 2, 2010 | Communication, Customers
We have all heard the term, anyone who has ever read anything about negotiation will have it burned into their brains, but what does it really mean in this age of digital collaboration?.
The rules have changed, the old days when you saw an opportunity as a potential benefit, without much consideration of the outcome for the other party are over. As a retailer once said to me in the middle of a very difficult negotiation, when I asked where was the win win in his proposal “we will win today, and we will win again tomorrow”! Not a comment that could build any sort of sense that it was worth my being there.
Recently coaching a client going into a negotiation with a potential customer who had arrived via the website, and so had an idea of the value we could bring to him, we defined the optimum outcome of the first face-to-face meeting not as a sale, but as the creation of trust as a precursor to building a relationship that may involve the specific product on the table at that time, but not necessarily. There were plenty of other opportunities we could see, and assumed there were many we could not. Our objective was to present ourselves as a potential long term partner who could bring far more than just a good product range, customer service, and competitive pricing to the table.
Worked a treat, and will prove to be a real winner all round!
Jul 29, 2010 | Alliance management, Communication, Leadership
Contracts are the point of last resort, they define the exit, should it become necessary.
Believing a written contract that details how the dynamics of an evolving relationship will be managed is as dumb as believing the lady in the tent can tell the future with any accuracy.
Relationships are about leadership, collaboration, honesty, and a mutual respect, and a reversion to the clauses in a contract are a clear pointer to the failure of the relationship and the leadership.
A while ago, a business I have had intermittent contact with over a long period set about outsourcing their IT function. It is only a modest business, short of resources, and took the view that the IT people were the experts, and that they should know all there was to know about how to approach their problems, and that the resources freed up could be better used elsewhere. Problem was, they had not adequately defined their processes and expectations, and the vendor saw it as a small sale, perhaps not worth their best efforts.
There were some tough lessons in the exercise, and at their most basic broke down to the simple fact that nobody could know their business as well as they did, and a generic set of solutions sold to a modest business were never going to be successful.
The vendor failed in their duty to meet their needs, once the sales contract was signed, they “moved on” and the company failed badly in the implementation, and the whole exercise ended very badly.
The simple fact is that the “solution” could have, and should have worked, the company’s logic was sound, and the solution had all the fundamentals to deliver a great service, but the relationship failed. Rather than leveraging the skills and experience of both parties to arrive at a successful outcome, they took the easy way out and just fought over who would carry the can. Really dumb!
Jul 26, 2010 | Communication, Leadership, Strategy
Obviously not, but you would be surprised at how often the obvious is ignored.
A carefully crafted vision statement is agreed at an annual senior executive retreat, and out away until the review next year. Nonsense.
You need to live it, create alignment, and ensure the activites that occur spring from a set of core values that dictate the way you, and those around you, behave, and all contribute to the journey articulated.
Jul 25, 2010 | Change, Communication, Social Media
Most of us instinctively buy into the notion that the web has a “democratising” impact, it is a way for information to flow, to be disseminated, and this is absolutely true. However, what of the instinct of institutions, public and private to keep things secret? No matter how ubiquitous the web may be, it needs to be fed.
WikiLeaks is a site set up by an Aussie named Julian Assange specifically to serve as a medium for “whistleblowers” to leak sensitive documents their employers would rather keep quiet, whilst retaining their own anonymity. The site has been the source of several of the better known leaks, including the horrific footage of US gunships in Iraq gunning down a group last year, that included several children, and two Reuters reporters, and joking as they did it. Not a PR coup for the US effort in Iraq.
WikiLeaks has the potential to be pretty uncomfortable, imagine the internal, highly confidential documents that could lift the veil on the Gulf spill should they become public, but in the long run, the value of transparency of these documents to the community is far greater than the sectional interests that are generally served by keeping them secret.
Go you good thing!
