Jul 15, 2010 | Communication, Leadership
“Values” is a widely misused term, one that is often a key break out subject at the annual senior management off site session, subject to sage pronouncements, then usually ignored.
Having participated, and more recently facilitated many of these sessions over the years, I have seen a few words that emerge, and that have actually evolved to mean something to the businesses concerned once the bull session is over:
- Reciprocity, where each individuals takes responsibility for their performance, that of their colleagues, and the organisation as a whole. When all individuals take this step, and the structures in the organisation are aligned, a powerful mutual and widely shared obligation, reciprocity, can emerge.
- Teamwork, that fosters collaboration and cross functional value creation
- Achievement, where the employee is recognised and rewarded for setting and achieving ambitious goals, but where money is only a small part of the reward system
- Integrity, which creates barriers to the short term, and is the foundation of the other values.
The words used differ from place to place, but the presence of these four in some form appears to be a basic recipe for success.
Jul 13, 2010 | Communication, Innovation, Leadership
Straying from my usual “beat” I read the Rolling Stone article that caused the downfall of General Stanley McChrystal, the US commander in Afghanistan.
It seems to me that he was fired, not because he was insubordinate, but because he failed to manage the politics surrounding the adventure in Afghanistan.
The article is a revealing, and fascinating narrative of an innovative, unconventional manager who got things done by ignoring the weight of the status quo, and its proponents. The parallels in management are everywhere, to be different, take closely considered risks, apply the unconventional, take information from the “front line” and argue with authority, all are traits necessary in a leader who is successful, and particularly successful at implementing innovative solutions to seemingly intractable problems.
Afghanistan has been a problem for every army since Alexander that has sought to place its stamp on the place, the US is no different. Engagement there screams for the unconventional, as the conventional has never worked, but conventional leaders cannot deliver unconventional solutions.
Many more will die, and more billions spent before the US and its “allies” including Australia wake up, but it is hard to admit you are wrong.
Jul 11, 2010 | Branding, Communication, Customers, Sales
It is often pretty easy recognise marketing hyperbole when we see it, particularly in a category where we have some knowledge. However, in a category where we have no knowledge, it probably is not as easy to pick the fact from the flummery, so even some of the more extravagant claims made may get through the mental fence.
Therefore, hyperbolic claims extolling the virtues of a new small car for example, are more likely to be rejected by the men who may engage with the ad, because they largely believe they know a bit about cars, rather than women, who believe they know little about cars, and are therefore less able to pick the BS from the facts.
This becomes very relevant when marketing a product to a category of consumers who know a bit about the product, and are therefore going to be more critical of the message based on what they know, or believe they know about the category, so be careful of the hyperbole, it will almost always turn off potential buyers, rarely persuade them.
Jul 6, 2010 | Customers, Innovation, Marketing, Strategy
The easier it is to quantify, the less it will be worth. This appears to be a pretty harsh judgment, but the reality is that if you can quantify and standardise something, it can be copied.
This is the case, until you consider the value created by subtle differences, particularly in consumer products, and original creations, a painting, poem, piece of music , new gadget, a new expression, or a new use for a staple product
An original Van Gough is worth tens of millions, but a copy it would take an expert to pick, done by very capable technicians in China, can be had for a modest amount. It is not that the copy is a lesser painting technically, it is just not the original.
Seeking the original is the core of innovation and commercial sustainability, as the alternative is to chase the cost curve to the bottom, where in the long run, the best return possible for the lowest cost producer is around the cost of capital.
Jul 4, 2010 | Branding, Marketing
Those who say one thing and do another have always been at risk of being found out. Now, the capabilities of the net make it virtually inevitable, with the downside risk to your brand being multiplied by the probability of being found out.
BP has spent millions on PR, advertising, logo changes, and acquisitions aimed at positioning themselves as clean and green nurturers of the environment, all of which is now just fuel for the fire of hypocrisy flaming alongside their spill in the Gulf.
The question is not of survival, as BP has assets the world needs, at least for the easily foreseeable future, but their cost of doing business will increase, as no-one will ever trust them again, no matter how much they spend.
BP is now an “ex-brand” as dead as the ubiquitous parrot due to BP being unable to walk and talk to the same tune, how is yours going?
Jul 1, 2010 | Customers, Marketing, Social Media
As a group, you may not like something. A style of music, a literary style, a type of product, a group of people, but when you see one of the group individually, and find you like it, or them, the rest of the genre becomes less confronting.
It is the same with brands, the closer you get to a part of the brand, the easier it is to find things about the whole that you like, and you can more easily justify involvement, and scoff at your previous dislike. Cognitive dissonance at work.
By definition you only get closer to a brand if it is delivering something to you, so it is a bit of a circular process, but the lesson for markets is that to build a brand, you need to get close.
The tools of “getting close” have changed, they used to be largely one way communication mechanisms, but now we have the power and tools of the web, so get close, engage, embrace, and succeed.
