Saturday, October 3, 2009

How To Increase Voter Turnout

Don't be like the simplistic state of Maine and make your ballot question so only PhD's can vote.

"Do you want to cut the rate of municipal tax excise by an average of 55% on motor vehicles less than 6 years old and exempt hybrid and other alternative energy and highly fuel efficient motor vehicles from sales tax and threes years of excise tax?"

Ironically, the Clarity Act is what is preventing Quebec from separating from Canada.

Monday, July 27, 2009

How to go viral in 7 days

Be bold at your wedding.

The stories will last a lifetime.

Sunday, July 26, 2009

10 Things Every Entrepreneur Should Know...

Courtesy of Harvey Schachter

1. Make meaning, not money

Most companies founded to make money fail. They attract the wrong kind of co-founders and early employees – people who are too greedy. Instead, entrepreneurs should focus on making their products mean something more than the sum of its components, and the money will follow. Nike’s aerobic sneakers, which cost a few dollars to make, for example, have been sold to women as standing for efficacy, power and liberation.

2. Make a mantra, not a mission statement

Bland, generic mission statements such as “delivering superior quality products for our customers and communities through leadership innovation and partnerships” serve no one but the consultant brought in to develop them. Instead, keep it short and define yourself by what you want to mean to consumers. Nike stands for “authentic athletic performance,” while FedEx is about “peace of mind.”

3. Leap ahead

Instead of just trying to stay a little bit ahead of competitors, find a way to leap ahead. The goal of a company, say, producing the early daisy-wheel printers, wouldn’t be to develop more font sizes for Helvetica but break through with the laser printer.

4. Roll the DICEE

In product design, you need to roll the DICEE – Mr. Kawasaki’s acronym for five important concepts: D is for deep, or thinking about features that go beyond the norm, as sandal maker Reef Fanning did by building a bottle opener into the sole of its shoes. I is for intelligence, as seen in the design of Panasonic’s BF-104 flashlight, which uses batteries of three different sizes to accommodate the random mix of extra batteries people have around the house. C is for complete, or being not just a product, but including support and service. The first E is for elegance, since beauty matters. And the second E stands for emotive, since great products, like those from Harley-Davidson, generate strong emotions.

5. Be crappy

Your innovation doesn’t have to be perfect and indeed can have elements of crappiness to it. Twitter, he says, has many flaws, but is changing people’s habits.

6. Polarize people

Try to be all things to all people and you often deliver mediocrity. The boxy Toyota Scion xB looks ugly to some people but very cool to its devotees.

7. Let 100 flowers bloom

You never know from where your innovations will flower, so let as many blossom as possible, bringing them to market to see if they attract any attention from customers. Avon Products’ Skin-so-Soft cream became popular as a mosquito repellent. “Learn who’s buying your product, ask them why and give them more reasons. That’s a lot easier than asking people who aren’t interested, ‘why not,’ and trying to change their minds,” he says.

8. Churn, churn, churn

Listen to feedback from customers, and continually improve your product. That’s difficult for innovators, since they often had to ignore the naysayers to get their product launched.

9. Niche yourself

The best products or services are unique and offer value. Successful companies create a separate niche for a high-value offering.

10. Follow the 10-20-30 rule

When pitching to venture capitalists, use no more than 10 PowerPoint slides, keep the pitch to 20 minutes, and employ a 30-point font size in the presentation to keep it simple, as well as readable. The goal of your pitches isn’t to walk home with a cheque, but simply to not be eliminated from consideration.

Wednesday, May 6, 2009

What Do Your Customers Really Want?

Interesting Post on this topic here.

I especially like the article for calling out "feature creep". Too often marketers just add more bells and whistles to products that creates artificial differentiation.

If you can't explain your product, service, or idea, in 10 words or less, kill it.

Friday, May 1, 2009

Teaching Marketing

It's one thing to stand up in front a classroom teaching the in's and out of marketing theory, but it's a whole different ball game to get you and your students into the trenches and learn how to sink or swim. Excellent teachers know how to cross this chasm but sadly many do not (or won't)

Universities are excellent at teaching critical, forward thinking skills, but lack in the practical stuff. Think outside the box and look to the future.

Colleges excel in the practical stuff, but only if that practical stuff doesn't change much over time, and one stays inside the box.

Flaws in both systems. Maybe that's why so many students in retrospect, are unsatisfied with their education.

Friday, March 27, 2009

Marketing Quote of the Decade

"The best products and services sell themselves. The rest have to be advertised. Moral of the story: if its advertised, it probably sucks"

So where are you investing your scarce marketing resources: in the product or the communication?

Friday, March 13, 2009

Are You Boring?

Do your customers talk about you?

Do you stay well past quitting time working on rainmaking projects? Or do you fret away with useless applications that no one really cares about.

Do you seek to not only understand the "how" of things but "why" you do it?

Do you avoid cynical, commodity thinking?

Do you prefer to take risky, inspiring ideas and bring them to fruition?

Do you look to cross the chasm from Good to Great?

Then you're not boring.

Becoming unboring is not free. It not only requires time, sweat, and money, but a willingness to be wrong. A willingness to make mistakes.

Being unboring is a choice. Which side are you on?

Thursday, March 12, 2009

Understanding Marketing Myopia

Selling has historically focused on the needs of the seller; marketing, on the needs of the buyer.

Organizations must not think of themselves as a producers of good and services, but as buying customers. Yes, that's right, using la carte de credit, and investing in the people who buy from you.

To do this, you have to go back to the basics: What business are you really in?

Had the railway industry defined itself in the transportation business instead of just trains, it is very likely they would have been well positioned against the future competition of cars, buses, and planes.

It is the reason why Honda doesn't make the best cars in the world, they make the best engines. Successful travel agencies don't book travel, they look to create permanent life memories. Great consultants don't just solve your problems, they make sure they stay solved.

Failing to focus on what your real core strengths in a vertical (industry) rather than horizontal (different sectors) creates companies that end up being stuck in a rut with no prospects for future success.

The road to success is lined with mediocre, short sighted train wreck,s that prevent you from crossing the chasm of good to great.

Don't be one of them.

Monday, March 9, 2009

The only sustainable competitive advantage you have...

Is superior understanding of your customers.

You cannot, repeat, cannot, maintain a tech or marketing advantage in the long run, as its way too easy for somebody to copy what you're doing.

You must not only figure out what customer's value your product/service/idea, but why.
  • Why pay a premium for you product when the competition sells for less?
  • Why drive the extra 25 km to a corner store when they are 4 less than a block away?
  • Why should I tell my friends about you?
  • Why is your offering so irresistible I cannot be forced to keep it a secret?
  • Why value our relationship?
  • Why are you remarkable?
  • Why should I stick by your side in good times and bad?
If you don't understand your customers, your competition just might. And that might put you out of business for good. Especially during recessions.

Thursday, March 5, 2009

The Real Economic Problem

Today's major world problem is not the current recession but what caused it: overcapacity.
  • Customers are scarce, but products aren't
  • Finding demand for an idea is tough, but supply is easy.
  • Following the crowd is safe, being different is hard and scary.
When we have overcapacity (real estate bubble, and financial interments that no one really understands) hyper competition becomes a serious threat to our way of life. With too many goods chasing too few customers, coupled with a lack of real differentiation, a dog eat dog behaviour ensues, leading to market failure.

The old economy is based on manufacturing industries. The new economy is based on creating knowledge that is worthy and highly spreadable.

Sometimes its really hard to notice the writing on the wall, but the sooner we do, the faster we can prepare for the future.

Sunday, March 1, 2009

Forget the marketing mix - Introducing the 4 C's of Marketing


We all know about the 4 P's of Marketing: Product, Price, Place and Promotion.

The problem with this approach is its selfish marketing. Inward thinking. Creating the product before creating the marketing. The traditional way of "marketer knows best" thinking.

It seems not much has changed since the invention wayyyy back in the 1940's, except that approx 80% of all new products fail each year using this model. So much for foolproof thinking.

Marketers who subscribe to the new marketing philosophy of customer centric marketing know we've already moved past this model, thanks to Bob Lauterborn to the four C's:

Customer
Developing a product and then trying to sell it to the mass market doesn't work so well anymore (I wonder why). Studying what your customer wants and attract them with something each wants. This is much like Seth's book on Tribe building. Find a tribe of unsatisfied customers and then develop your offering to solve their problem. The marketing comes
before the product!

Cost

Never (ever) compete on price alone. There are far too many businesses that are willing to go bankrupt before you on price - don't be one of them. Unless your Wal-mart or have some secret distributive strategy that makes Amazon and China jealous, you need to understand that cost is only one part of the value equation. People may well pay more money (and they do) if the value is higher than the cheap mass market alternative. Understand the true cost to satisfy your client. Think in resources and value, not dollars and cents.

Convenience
You must think of convenience to buy instead of place. Not everyone prefers to buy the same way. Some prefer online shopping, others bricks and mortar. Some require 24 hour round the clock support (late majority), while others prefer the challenge of figuring how to use your product (innovator/early adopters). Understanding how they buy and what resources they need before/during/after a sale is critical.

Communication
Promotion can be (is!) manipulative. People have been burned for far too long about gimmicks, guarantees, and questionable offerings to be duped later on. Communication requires a two way dialogue between the buyer and seller, that personalized, anticipated, and relevant to their wants. Never mind the fact that being a facilitator and collaborator instead of a dictator/manipulator can do wonders to brand building.

Remember who keeps you in business.

Monday, February 23, 2009

Leveraging Your Expertise

Talking with a friend today over lunch, we were discussing the frustrations and enormity of creating change in the workplace. Especially when one is still young, ambitious, and full of ideas.

When any young professional comes out of school, they are often in for a rude awakening of how little change or efficacy they have.

They quickly learn that they must wait. Wait for the day for the baby boomers to keel over and retire before they can make their strike.

Going to work for a large, top heavy organization (especially government) one's spirit for change gets slowly eroded as they must wait 20 odd years or so before they have moved up the ladder enough to actually create the change the wish they want to see.

Unfortunately for most people - by the time they reach that run on the ladder, they're tired, cynical, and stuck in their ways. The enthusiasm and idealistic spirit is gone, replace by the countdown to retirement.

So what to do?

Besides quitting your job and going to work for a smaller organization who may give you that leverage (hard to do in a recession), you must consider three pillars of leveraging your influence in a large organization:

1. What is the probability of success of your idea? (Is there a market for it)
No one can totally predict the future, but providing quantifiable ways ofs to determine the probablity of success is a large reassurer for your skeptical, risk averse colleagues. Using the known to make the unknown more palatable is key for getting people on side.

2. Is your idea worth doing? (Executability)

Even if the sucess seems high, remarkable ideas are never short of hard work. Theres time, risk and effort involved, and no one likes to waste time on projects that go nowhere. Remember: it's easy to come up with ideas, but the execution is a whole different ball game. Just because you may great at generating ideas doesnt mean theres a market (see #1) or worth spending scarce resources on.

To combat the exeuction problem, determine each of your stakeholder's worldview so you can provide them with a "what's in it for me?" incentive. Some people are all about numbers, others about cool design, while other people are in love with raising the visibility of the organization or themselves.

3. Are you the right person to champion the idea?

Leaders aren't born. They're made. And leadership comes in all different types. You need to build your champion status in advance prior to putting forth your ida. The bigger the idea the more personal brand equity you will need to be taken serious. It's a given that everyone has a personal brand, but you would be surprised how few go about managing themselves to be viewed as experts in their field

Yes, you can always put yourself away for endless years at grad school and other accreditiated programs, but there are many other ways of becoming credible that don't involve thousands of dollars, and ridiculous admission requirments. Instead try creating a blog, volunteer for projects that are in line with your expertise, write an e-book, teach a course for free, offer free advice on business network forums, or even become an active member in your chamber of commerce. They key is that there are an infinite ways to become an credible source, you just have to consistently and authenitcally display it.

Barring all that, you could just become an independent consultant :)

Wednesday, February 18, 2009

You Will Be Punished

  • You will be punished for not getting the job because of your counter intuitive, holistic, marketing views.
  • You will be punished if you think outside the box that goes against the grain of your colleague's thinking - or worse, your bosses.
  • You will be punished for speaking out at your weekly meeting for questioning the team's motivations.
  • Society will punish you if you deviate away from a formal education path (you're too risky)
  • Your peers will punish you for being "too different" or "weird" because of your creative thinking
  • You will be punished for speaking out, as those who speak out seek change, and it's much more easy to label them a sh*t disturber then entertain their ideas.
  • Being idealistic is definitely punishable. Pragmatism must rule the day.
  • Don't have the necessary credentials to meet the artificial barriers? Punishment will be swift.
  • Challenging your peers thinking, and promoting a higher standard of thinking is highly punishable by shunning.
  • By being risky, and focusing on niche ideas, you are asking the mass market to forever punish you.

With it being so easy, safe, and convenient (in the short run) to embrace the status-quo and blend in with the crowd, are you really sure you want to be an entrepreneur or agent of change?

Remember, you will be punished.

Tuesday, February 17, 2009

Why People Don't Buy From You

Whether your a profit 100 company, struggling political party, or ambitious (arrogant) entrepreneur, knowing why people are passing you up for the competition is critical to your survival.

1. They don't trust you.

Who knows why. After all you thought you had a good story to sell. But maybe that's your problem. Too much inward thinking instead more outward thinking. Authenticity matters, and you can't build trust without your target market actually thinking your the real McCoy. Which brings us to number 2.

2. Don't know what's in it for them

People don't buy drill bits, they buy holes. They don't buy insurance, they buy peace of mind. If you do a poor job of communicating, you don't deserve to make the sale.

And above else....

3. People rarely buy. They're often sold.

Buying is a logical/rational process - lowest price and convenience is the name of the game.

Being sold is an emotional/sensual experience - one involving another human, creating a relationship and thus loyalty.

Saturday, February 14, 2009

Attracting that special someone online


The secret to building a great website/online profile is all about what you want your prospect to do, when they arrive at your site.

Want them to take immediate action on something? Try using arousing stimuli.

Want visitors to stay longer? Adorn your pages and links with very pleasing/enjoyable things to do to encourage browsing.

Oh and keeping your mind out of the gutter helps too.

Sunday, February 1, 2009

Making it easier to work with clients

1. Realize you are selling - you need to be formal and overt about this.

2. Ask lots of questions - not everybody needs a retro style toaster or can afford your monthly subscription. Figure out who your real customer is by qualifying your prospects with targeted questions to avoid wasting your time with tire kickers.

3. Creating a review cycle - If you are selling custom products or services, build in sufficient time for review. That way you never have to tell the client that the choice is between making a change or busting the schedule.

4. Build In Milestones - this way the client understand the consequences of not sticking to the agreed terms.

5. Maximize your authenticity - work very smartly to ensure you are the real deal to your client, so that they are likely to believe what you say.

6. Keep the conversation focused - talk about work, not your personal feelings or the process. You would be amazed at how bogged down you can get with too much off topic chat.

7. Ask the obligating question: If I do xxx, will you be able to buy it then? And make sue to list everything as part of the xxx.

8. Invite feedback - ask "what else" a lot. Make sure you get both positive AND negative feedback. This is not the time for warm pats on the back.

9. Establish a written trail for everything - everyone hates the paper trail, so get really organized with a project management system to keep track of every critical detail.

10. Step by step selling is key - start by getting their buy in, then on your side, and then their signature.