What is the one skill no SME can do without?

What is the one skill no SME can do without?

Mar 28, 2019 | Marketing, Strategy

Simple answer, rarely given at first: Writing quality copy!

Quality copy, in whatever form it is delivered,  gets inside someone’s head, it joins in and contributes to the conversation already happening, and influences the outcomes that evolve.

Everything we do in an enterprise is in one way or another directed towards the objective of getting someone to do something. It therefore follows that we need to be able to communicate with them clearly, in their words, saying things they either want to hear, or are receptive to hearing which may lead to an action.

This does not happen by accident, it only happens when time is invested in the writing process, and importantly, the preparation that happens before the pen is lifted. From writing a simple email, to communicating the most complex message by any number of media, the rules are pretty much the same, only the time invested will vary.

It is also true that we humans relate to, understand, and remember stories, so tell one! Do not just deliver a bunch of words, data and illustrations, create a memorable narrative.

There are 4.5 million copy templates out there, available via Dr. Google. Scrape away the jargon, fancy words, and promises of millions of dollars if you will just do this one thing, and there is a very common thread running through most of them that offer any real value. That thread comes down to  a few simple to say, but very hard to implement rules.

  • Audience. Know who you are talking to
  • Objective. Know exactly what it is you want to say, and why.
  • Action. Communicate what Action you want them to take as a result of reading (or listening)
  • Impression. What is the lasting impression you are seeking to place in the mind of the reader.

A simple acronym: A.O.A. I. That makes it 4.5 million and one!

An email will differ from website copy, and both will be different to a sales letter,  and to a major verbal presentation, but all will follow those simple rules, with the obvious variations in the manner in which they are executed.

Common to all are a few further observations I will make.

  • Every successful communication starts with a draft, that can always be improved. The more complex the communication, the greater the potential for improvement. Usually this is achieved by cutting words and selecting them more carefully to better communicate the meaning, motivate the desired action, and leave the lasting impression. For example, despite the following two sentences being quantitatively the same, almost everyone will feel substantially more favourable towards  the first:

‘This milk is 95% fat free‘ . Versus, ‘This milk contains 5% fat‘.

The pursuit of clarity, brevity, and maximum impact  are voracious consumers of the writers time, but always offer a return on the investment. Variously credited, but I believe correctly to Samuel Clemens (Mark Twain) is a note to his wife while visiting Australia in 1895. ‘Darling, I wrote you a long letter because I did not have the time to write you a short one’

  • In written communications, spelling and grammar are essential skills. Not because of some preoccupation with the past, but because the rules of spelling and grammar evolved to assist in delivering clarity. Spellcheck is a good first start, but it misses a lot, particularly grammar, and the construction of sentences to deliver clarity. When writing anything, from a simple email to a book, in the absence of a person playing the role of editor, read it out aloud to yourself, saying every word as it is written.  There is a tool in Word, called ‘Speak’ which I have on my quick access toolbar, which reads back your copy in ‘computer voice’. While it is far from perfect, no matter how careful I have been, listening back to  ‘Speak’ always highlights something that can be improved.
  • Verbal communication, from a simple elevator pitch, to a major speech, should always evolve from a written draft. ‘Winging it’ is almost always a very bad idea! Once you have an elevator pitch, it can be memorised, repeated, and ‘tweeked’. Writing any communication the first time is always hard, as you have to decide what to leave out. Doing a brain dump of everything you know  about a topic will just lead to a bored, and disengaged audience.
  • Verbal communication in front of an audience also imposes another set of choices that need to be made in addition to the choice of words. That is how those words are to be delivered. Speaking naturally, including all the intonation and body language as you would to a single person, is always best, but with caution. Colloquial and ‘expressive’ language that may be acceptable one to one, may not be in front of an audience. This is a judgement to be made each time, usually somewhat dependent on the audience. Practise helps, as does the recognition that it is natural to be nervous, and importantly, working on the written drafts until you know  the content intimately, removes a lot of the self imposed pressure.

While the basic rules will remain consistent, the formats used will differ markedly. A sales letter will  look different to the copy on a website, which will be different to the presentation you do to an audience. However, the basic AOAI framework will help in the writing of the copy that is the foundation of delivering the message.

In addition to my simplistic A.O.A.I. template, there are many others of value from successful writers, as noted, roughly similar. The following two I commend, which come from books I have read and re-read on several occasions.

R.O.A.M. Readers, Objective, Action, iMpression. Josh Bernoff, ‘Writing without Bullshit’.

P.A.S.T.O.R. Person Problem Pain; Amplify; Story, Solution System; Transformation, Testimony; Offer; Response. Ray Edwards. ‘How to write copy that sells’.

When you need help developing and articulating your strategy, and figuring out how to implement, call me.  0410 627 318

What have you got to lose?

6 components of successful gambling (otherwise known as marketing)

6 components of successful gambling (otherwise known as marketing)

Mar 25, 2019 | Marketing

Successful Marketing is like having a great hand of cards.

Each card has a value by itself, but in isolation, that is very limited. The value of a hand is in the combination of cards you have, particularly the combination you have compared to the combination of your opponent, and how you leverage that combination. Sometimes as in Bridge, the combination of your hand with that of your partner is crucial.

Marketing is gambling, you are betting on the shape of the future, and your place in that future.

Just like gambling, professionals are better able to manage and manipulate the factors ‘at the edge,’ that compounded mean the amateur will never beat the professional.

Following are 6 factors professionals use to beat the amateurs. The analogy to marketing may be a bit ‘hairy’, but for me it works!

Incumbency.

A casino, the church of gambling, has an institutional advantage over the gambler. They only have to equal the gambler to win, the gambler has to beat the house, and do it on a consistent basis to win. ‘One-off’ wins happen all the time, but over time, the institutional advantage unless mitigated in some way, will always win out. 

Know the numbers, understand the odds.

‘Counting cards’ in a game of 21 for those few who can do it, will get you thrown out of a casino, as it is one of the means by which the odds can be altered against the house. When you can remember the cards that have been discarded, you are theoretically able to calculate the odds of a given card coming up next, and alter your bets accordingly.

Poker is a game of odds. The odds are dictated by the chance of a specific combination of cards being held, and when being dealt, of a specific card arriving. Playing ‘show poker’ assists those who can count, as they are better able to calculate and recalculate the odds based on the cards shown than the amateur.

As it is with marketing, the more you know that may have an influence on the outcome, the better able you are to calculate the odds.

Know the opposition.

Serious card players are very sensitive to unconscious signals from their opposition, the presence of a ‘tell’. In the movies, the protagonist scratches his forehead when an Ace arrives in his hand, a giveaway to  the professional.

‘Body language’ is a huge component of face to face communication, a professional sees and understands the meaning of all sorts of subtle, unconscious signals coming from their opposition, and is able to use them to their advantage.

Know the rules.

Every game has rules, knowing them is a foundation skill necessary to play. Understanding how the rules can be ‘managed,’  how the usual responses can be massaged to deliver a changed outcome is the sign of a professional.

Remember the stakes, and the balance of odds.

Playing the game, any game, requires investment, and for someone to win, it requires that someone loses. Very few amateurs accurately calculate the costs of losing, in the emotion of a potential win, something the professionals rely on. They win when amateurs lose, which is most of the time!

Opportunism pays.

Sometimes, even when the odds are stacked against you, luck plays a role. When the lady does show up, you have to be able to recognise her in order to take the advantage on offer. Always remember the old dictum of Louis Pasteur: “Fortune favours the prepared mind’ and as the scouts say, Be prepared!

When you need the experience and advice of a professional on your side, give  me a call.

 

Why is deep domain experience so valuable?

Why is deep domain experience so valuable?

Mar 15, 2019 | Communication, Leadership

As an old(ish) former senior exec sort of bloke, watching this crop of younger managers come through, I find myself disturbed.

It often seems that while they know the facts, and at an intellectual level, recognise the impact, they do not seem to understand them in any instinctive sort of way.

It is disturbing, particularly as I look forward in this country and cannot help but be pessimistic, and wonder where the general equivalent of the ‘corporate memory’ of Australia is hiding.

I grew up in the late 60’s and early 70’s. The social fabric of  the world was changing at a rate that arguably has not been matched since, or will again. Not the tech world, the one we inhabit daily. The music, to that time unquestioned social behaviour, our trust in the institutions, and Vietnam: a war my now grown children know almost nothing about, that changed everything.

Trying to articulate the difference between just knowing this stuff, and really understanding it is really hard, but try this, if you are now well into your 60’s.

Let it be. The Beatles

‘Close to you’. The Carpenters.

‘In the Summertime’. The Mixtures

‘Bridge over troubled waters’. Simon & Garfunkel

‘Looking out my back door’. Credence Clearwater

‘El Condor Pasa’. Simon Garfunkel

‘Up around the bend’. Credence Clearwater

‘Knock knock who’s there? Liv Maessen

‘Whole Lotta Love’.  Led Zeppelin

That is the top 10 singles in Australia in 1970. Throw in a few of the tracks that have a place in your personal history, to make the list 15 or so. On my list would be Leonard Cohens ‘Suzanne’.

Now, ask a 35 year old about the list, they will know some of the tracks, perhaps many, but it will be a list of songs, words on paper, perhaps even a tune, but there will not be a visceral connection.

They did not live through it, their understanding is intellectual, there is no emotional connection to their soul.

Having deep domain experience is the same thing, intuitive, visceral, extremely hard to articulate, but of immense value when harnessed.

 

Picture credit: New Yorker Magazine. (The second time I have used it).

 

 

 

 

 

 

 

What does marketing to Supermarkets and Pharmaceutical research have in common?

What does marketing to Supermarkets and Pharmaceutical research have in common?

Mar 13, 2019 | Branding, Governance, Marketing, retail

Quantifying the ROI of marketing investments remains the single most challenging task of marketers. While marketing costs  remain being seen as a variable expense, stuck in the monthly P&L , it will remain hostage to the whims of expediency, corporate politics, and short term thinking. The real KPI of marketing investment should be the sustainable margin delivered over a considerable time, as you would with an investment in machinery.

The obvious problem is that you can measure the output and productivity improvements associated with a piece of machinery, the numbers become available with use, although, they are all in the past. Marketing investment is all about influencing the future, and measurement, even with the benefit of hindsight is very hard, and useful only as a learning tool.

Is there something we marketers can learn from elsewhere?

The  Kaplan Meier curve is a basic concept used all the time by medical and pharmaceutical researchers. For example, if they are testing a new drug for say, patients with diagnosed terminal prostate cancer, you plot on a daily curve the lifespan of those on the test drug, and those on the placebo.

Assuming there are 100 patients in the trial, at day 1, all 100 are alive, then  you plot the numbers who remain alive daily with, and without the drug. If the plot line of those with the drug goes above the line of those without, you can imply the outcome of longer life, and you have some numbers to support the conclusion. If the line of those on the drug dips below the placebo line, you are killing patients. Lines that stay together indicate the drug has no impact.

Simple idea, widely used in medical research.

For years I have watched suppliers to supermarkets being screwed by those supermarkets, and increasingly allocating advertising funds aimed at brand building , which delivers margins over time to the brand owners, and indirectly despite the protestations to the contrary, to the retailers. This reallocation of advertising to working capital and margin via in store promotional activities, and supermarket profitability, at the expense of advertising, has been a huge mistake.

It has seen the demise of some great brands. To be fair however, consumers have benefitted by cheaper prices, at the expense of choice.

A few weeks ago,  the recently merged businesses of Kraft and Heinz, announced a disastrous profit result. This came about as progressively brand advertising that gave consumers confidence in the  brands has been redirected to price promotion that is the primary competitive tool of supermarkets. Meanwhile, those  same retailers have introduced house brands that look very similar, and that trade off the value proposition developed by Heinz and Kraft over many years.

The same thing has happened in Australia, perhaps more so given the concentration of supermarket retailing.

I was around as a junior product manager in the early  days of Meadow Lea brand building, at what was then Vegetable Oils Pty Ltd, a long gone business, swallowed up by corporate stupidity.

 ‘You ought to be congratulated’ is one of the great propositions of Australian brand building. In a hugely crowded margarine market, Meadow Lea held at its height, a 23% percent market share at premium prices, four times that of its closest rival. This was a direct outcome of a good product, great advertising, and a brand that delivered.

I had a look in a supermarket yesterday, and had trouble finding anything labelled Meadow Lea.

What happened?

Retailer power happened, combined with the lack of  understanding of the power of great brand building consumer propositions by retailers. Meadow Lea was squeezed by retailers for more and more promotional dollars that ended up  being funded by reductions in the brand advertising and building activity, with the end result that the brand in effect no longer exists.

It has become nothing more than a label!

I wonder where the  next market building initiative will come from?

Certainly not from the manufacturers, as they know that immediately they create a market the retailers will undermine it with cheap versions, so there is no value in the risks involved in the innovation necessary, and no reward.

Back to where I started, and I do not have the data for this, but I bet that applying a Kaplan Meier analysis to  the delivered margin from Meadow Lea over time, both to the now owners of the brand, and the retailers, would show that the allocation of brand activity to the low prices demanded by retailers had hurt everybody concerned, including consumers.

Image credit: Wikipedia

 

 

Where is the gap to be filled in retail?

Where is the gap to be filled in retail?

Mar 8, 2019 | Customers, Marketing, retail

The range of retail format options is huge and multifaceted.

At one end of the continuum you have pure on-line retailers,  to full service bricks and mortar retail at the other, and everything in between.

It is the ‘everything in between’ where the development is happening, and the opportunity lies.

Apple ‘Zigged’ when everyone else was ‘Zagging’ and spent a decade and billions of dollars opening retail stores. While they are now the most successful retailer in the world on a turnover/square foot basis, the reason was more about brand building over the long term than just retail revenue. Brilliant.

Amazon has been the catalyst to the on-line gold-rush, but you have to ask yourself are they are retailer, or a data business first? They started as a retailer, simply using a different channel, but to enhance their position they have evolved into a data company that uses on line channels to sell and deliver product.  With Amazon Go, they have combined bricks and mortar retail with their data capabilities, which can only become more important as they evolve their purchase of Whole Foods.

Meanwhile, B&M retail is either hunkering down, cutting costs, and generally moaning about how on-line sales are cutting their margins, or investing in their businesses, some by increasing service levels, others by setting about ‘digitising’ to compete.

Any way you look at it, the gap is in the middle.

That gap will be rapidly filled by deploying digital tools already available, or in development, based it seems on two rapidly converging technologies:

  • Facial recognition, powered by our on line profiles and pattern recognition software, and
  • Location definition powered by our devices and GPS.

Amazon Go is able to recognise and record stock movements from the shelf to your shopping basket, and back, as it happens, and debit your card with the purchase. It is a small step to use facial recognition as you approach a store, or product category while inside the store, and match that with your previous purchase patterns to make exclusive, and immediate offers to you tailored to your history.   You do not need to be Amazon go to deploy the second part of that scenario, you just need the facial recognition and location data connected to your purchase history, and perhaps purchase intent identified by browsing history.

This combination of location, facial recognition, purchase history and browsing patterns will be the game changer in the current gap.

The question to be answered is how we as members of the public and consumers feel about this complete exposure of what has been to date private. On the one hand we seem to want the convenience and immediacy it can deliver, but on the other, remain very wary of offering up our privacy to the unknown forces that can tap the data in ways never expected or sanctioned.

However, I suspect the horse has bolted, and the gap will rapidly  be filled!

Photo credit: Kristian Dye via Flikr

What is the difference between an Elevator Pitch and a Value Proposition, and when to use them?

What is the difference between an Elevator Pitch and a Value Proposition, and when to use them?

Mar 4, 2019 | Communication, Management

Good question, but the challenge seems to be overwhelming for some of those who most need to be clear on the differences, and when and how to use them.

I spent most of Thursday and Friday last week at the ‘Emergence‘ conference in Sydney, an event designed to boost the start-up scene in Sydney by bringing together investors, start-ups and industry experts. A similar event was held in Brisbane on Monday and Tuesday.

A terrific couple of days, with one significant blemish.

Most of the founders who had the opportunity to present to an audience of several hundred investors, and service providers of many types, blew it! Completely blew it.

Has nobody told these talented engineers and designers that you only get one chance to make a first impression?

The elevator pitch.

This is a very simple, compelling to your ideal customer, one sentence distillation of why  they should buy from you, or more often, just keep talking to you. It is not easy to craft, largely because in one sentence, you have to leave out a lot. Every stakeholder should be able to recite this in their sleep, and should do so at every opportunity when meeting people.  The purpose is to pique interest, and to extract the follow up questions, that can be answered by the delivery of the value proposition, which may lead to a further and deeper conversation.

I did not hear one compelling elevator pitch in the two days. Not one!

Use the elevator pitch when you have 30 seconds, any extra time you may be given is just a huge bonus not to be wasted.

The Value Proposition.

Your Value proposition is a more detailed articulation of why someone would engage in business with you. Still concise, focused, but designed to get to the core of who the product is designed to help,  how that will happen, and what results can be expected. You know the delivery has been successful when there are follow up questions that enable you to go into a bit more detail about the problem you are solving, and the beneficial outcomes of use.

Again, last week, there was an almost complete absence of a Value Proposition. In its place, we were given lists of names of notable people who were involved, how many degrees they had, what the technology entailed,  and some detailed project plans and milestones. In most cases, little that would encourage further engagement, although for a few, there was considerable value hidden amongst the verbiage, poor delivery, and technical jargon.

Use it when you have 15 minutes, along with a pitch deck that leaves the listener with no option but to be engaged. The best outcome to be achieved from such a line-up of consecutive pitches is that the audience remembers nothing but yours, and the individuals feel compelled to follow up!

If I was the organiser, it would be mandatory for those pitching to spend a bit of time with someone who could help them assemble their deck, and then get their message across. Either that, or hide the ego, and get someone with presentation expertise to do the preparation and delivery.

For all of that, the exercise was a great success, and warrants support from those with an interest in nurturing a successful start-up ecosystem, and that should be everybody.