Jun 21, 2010 | Management, Sales, Social Media
In this digital age, the first contact in most situations is digital, where the marginal cost is approaching zero.
This simple fact has changed the sales cycle, as this contact can evolve into an offer to become closer, or it can become a barrier, but each party understands implicitly that the rules have changed.
The question now is not one of how quickly can a sale be closed, or indeed, the process brought to an end, there is more dancing involved, largely because the dancing is cheap, non threatening, and easy. For a sales organisation, there are a few simple questions:
- What sort of digital tools do we need to engage key prospect groups?
- How much time and effort should be spent on developing a sale before we reach the go/no go point?
- How much do we need to give away?
“Give away” now more often than ever strays into the arena of proprietary IP, as efforts to differentiate and add value in a commoditised world accelerates
Jun 20, 2010 | Marketing, Social Media, Strategy
As the web makes the marginal cost of anything that can be delivered electronically too close to zero to measure, the world of marketing changes. Convincing the boss that the capacity of the rack of servers he has just shelled out for should be given away is often a challenge, but the reality is that the world is chasing itself down to free, and many businesses need to figure out how to make money in different ways. The solution still escapes most in the music industry (although Radiohead have done OK) but it is early days, or is it?
The original “free” product was the safety razor blade, given away by King Gillette in a whole array of ways, but a blade is not much good without the razor, and an industry was born, so this dilemma is not new, just different, and far more pervasive.
Jun 7, 2010 | Innovation, Marketing, Social Media, Strategy
Will the iPad and Kindle do to books what has happened to music? You have to believe they will. At the moment, it is the early adopters who are looking for books electronically, but it should not take too long to become mainstream.
It would be silly for publishers to become resisters rather than figuring ways to embrace the change that will happen, drive it, and thereby build a sustainable new business model. The core to that success will be the “ownership of the relationship” with the readers. Currently that is via the publisher who has control of the channel, apart from the few “big name” authors who have their own following, built after a publisher has invested in them.
The new e-readers offer a disintermediation opportunity for authors, one they will grab, so the role of the publisher is about to change, but how many of them see that?
Thinking about the potential for e-marketing of books also puts a gun to the head of the dumb restrictive publishing rules that exist in this country. I cannot buy a book published in the US in Australia unless a local publisher, or off-shoot of a British one, has chosen to publish here, adding another margin that has absolutely no value to me. Until recently, I did not have an option, then Amazon popped up, then the Kindle arrived, and now the iPad. Now there is a new set of rules emerging from the marketplace, and the existing regulations no longer have the control, so have become irrelevant.
Can somebody please tell the publishers and their cronies in the government, and I wouild not be too keen to buy shares in a book retailer wedded to the expensive shop front in Westfield.
Jun 6, 2010 | Communication, Leadership, Social Media
As we grapple in this country with the notion of Canberra putting filters on the net, as has happened in China, and the various businesses and groups having their say, perhaps the most useful being Google, who have had the guts to take a stand that compromises their short to medium term position in China based on their corporate values, what we lack is a philosophical framework that describes the “why” and acknowledges the downsides.
All we are getting is the “we must protect our children” arguments, few would disagree, but it leaves us with a shallow virtually non existent populist “debate” without any real foundation.
A short time ago the US Secretary of State, Hillary Clinton put forward such a framework, agree, or disagree, at least there is a sensible framework to debate. One of the best commentators on the net, and what is happening, and why is Clay Shirky, and I have linked to his edited version of Clintons speech to make life easier rather than reading the full transcript, but the full text is available on the US department of State website.
May 26, 2010 | Management, Marketing, Social Media
The brother of digital democracy is Analytical Insights. As more and more happens on the web, the opportunity to develop analytical techniques and resulting algorithms that are able to assist the prediction of behavior grows.
As every user of Amazon, and many others have noticed, the more you use it, the better it is at predicting, then offering you further purchases that focus on your interests. This is not a matter of “fries with that” or luck, it is a reflection of the deep analytical capacity to look at an individuals past behavior, and predict what they may like to do now.
Perhaps it is digital democracy’s big brother.
May 25, 2010 | Customers, Marketing, Social Media
A newish term to describe the capacity of consumers to respond, and to initiate change, and it is having a huge impact on the demands on the people running the marketing efforts of all organisations, and the breadth of their responsibility within those organisations.
Suddenly, because of the reach of the net, marketers are being asked to create startlingly different products in order to remain differentiated from the competition, whilst being socially and ecologically responsible, but still meeting the financial metrics that dominate organisations.
In most cases, this is a very big ask, marketers are usually as bound by the successes of the past as anyone else, consumers need to push them to new solutions by rejecting the old ones.
