Remember when…

February 2nd, 2012

Many companies traditionally rely on intuition and the way they have always done it.  However, the game has changed significantly in the last 10-20 years. Consumers are accustomed to a new way of interacting with the companies that make the products or provide the services they use.  Employees expect more, even under the tremendous pressures of the “great recession.”  And vendors move quickly if they think that there are richer pastures somewhere else.

Consider, 20 years ago you listened to music on a “Walkman”, took pictures with a Polaroid, read the paper in the morning, watched the evening news, and listened to local radio (the list goes on).  Your employees worked at a desk, had a fax machine, and relied on voicemail or an assistant for communications outside the office.  They may have carried a pager.  Travel was important for face-to-face meetings.  Trade shows provided access to new product and markets.  

Only a few years ago if you were in business, a blackberry was a must….

How has your enterprise adapted to these changes?  How do you recognize trends and change to take advantage of new opportunities?  I will bet it is not the same way you did only a few years ago.  How “agile” is your organization?  Does your culture promote innovation?  Do you have mechanisms in place to capture new ideas and put them in to operation?  More than ever it is evident that the culture of the organization determines the level of success.  What to know more?  Want to build a culture of performance and success?

NFL Marketing?

January 25th, 2012

I was driving in traffic for lunch today. The truck in front of me had a large New England Patriots logo in the back window. The license plate also reflected the loyalty to the team. What if we could apply NFL marketing to our business? Instead of Ford vs. GM, it is Tom the head manufacturing supervisor from Ford against Eli the quality manager from GM. Business statistics alone could create an incredible fantasy league potential.
Now what if we could apply that concept locally? George, our head grocer at Safeway, Mary from our local Frys, Arlene from Alberstons, and so on, in competition, and we can now “cheer” for them (via social media) when they do something great (did you see that lobster buy on Friday?). Putting a face and personality to a company induces loyalty. It also creates accountability. If the recent shipment of strawberries is rotten, we can boo Mary, but we will give her another chance for glory next week.
Think about it, you want to establish the expertise of your company? Who is on your team? In a competition, would you be the underdog or the favorite? Is the crowd cheering for you, or are they hoping you just make a good showing.

What is PredictiveIT

September 29th, 2011
Fast Company had a great article on Predictive analytics. Several years ago, I coined the term “PredictiveIT” For the purposes of discussion, they are one in the same. Fast company says:

Want to make really smart decisions for your company? It’s simple as looking into the future and assessing the data–a service that a few young companies dealing in “predictive analytics” are selling

Business swims in a sea of data. No matter what line of work you’re in–publishing, healthcare, retail, food service, drug-dealing–your business operates in a vast, swirling matrix of information. How many people are interested in your product? When do they show most interest? How much of your product should you produce? Where, when, and how should you sell it?

Data crunching giants like IBM and SAP have long mined and analyzed data for businesses, offering predictions about what actions will help their bottom line–“predictive analytics,” to use the industry buzzword. But the cost of such services has typically been so high–a price tag in the millions, if consulting services are added, is not altogether unheard of–as to limit their use to major corporations. Now, for the first time, a few smaller players are promising small and medium-sized businesses that they, too, can use predictive analytics to better forecast what actions will yield a greater profit.

Take, for instance, web publishing. Web publishers have traditionally been content with “real-time analytics”–that is, information about how readers are interacting with their sitenow. But as vast stores of this data accumulate, there’s no reason why publishers can’t demand to know more. They should be able not only to observe the present, but to make guesses about the future.

Example: an editor who thinks a story is strong, and showcases it prominently; the article subsequently gets higher traffic. “It looks like the decision you took was correct,” says Mortensen. “But that’s just a self-fulfilling prophecy,” he says–of coursepromoted stories fare better. “What you don’t know is, was there another piece of content that could have done better?” Would a more substantial article have spurred deeper engagement with your site, prompting a reader to dig deeper into your archive? Visual Revenue makes predictions about how it thinks your content will fare and what sort of return on investment you’ll get out of it, down to the dollar and cent. VR’s own services start at about $1,000 per month, though price varies based on volume.

Web publishing is one thing, but isn’t the messy world outside the Internet too complex to forecast the future? No, cross-industry, in finance, retail, manufacturing, a lot of web 2.0, healthcare, government…” In every sector, companies find that they have “tremendous amounts of data, tremendous value locked in the data, and are currently unable to get it out, either because of complexity or cost.” For years, companies were mostly happy just to be accumulating data for reports, charts, and graphs, which were used to create accountability. But increasingly, companies want more out of their data. But now that so much data is in hand, “people want to optimize for the future, to forecast more accurately.

Services aren’t exactly cheap, running some 40 grand a year. But competitors–folks like IBM, SAP, and Oracle–often charge up to five times as much. (Some companies offer a range of prices, depending on what services are contracted; while some clients might spend thousands of dollars per year, others could spend “millions.”)

The cost-benefit equation certainly looks increasingly favorable. “With the affordability we bring to the table, it’s not just big financial institutions with 20 billion dollars in annual sales who are able to take advantage, the SMBs of the world are now able to have that same kind of competitive advantage that the big titans have.”

By the same token, the big titans of predictive analytics itself–the IBMs and the SAPs of the world–may have to watch their back for the up-and-coming Pentahos and Visual Revenues. Were they able to predict that?

 

Can you bank your followers?

March 31st, 2011

What if you could go to the bank and deposit your facebook friends or twitter followers? But you can’t.  So why are you so concerned about the numbers of friends, likes, or followers?  Your social media, and advertising strategy depends on well thought out and integrated campaigns that attract and retain your customers.  Quality over quantity (unless you have mass appeal, like Coke) allways.

There is a lot of discussion about the value of social media.  There are penty of companies that will execute a social media strategy.  Be careful, you first need to create a social media strategy for your company.  If you do not have a strategy in place you run the risk of being lumped in with everyone else.  A well designed and executed strategy should result in quality prospects, leads and conversions for sales dollars.  The kind you can deposit at the bank.

Next time you are feeling good about the numbers of followers, try and deposit them.

2011 Three things we need for Business Success in the Scottsdale Airpark

January 4th, 2011

\’Hope springs eternal\” and \”Those who ignore history are condemned to repeat it.\” Mayor Lane has signaled his renewed focus on economic development. Where do the Scottsdale Airpark business stakeholders center activity this year to achieve economic prosperity? I have written several times about developing a vision for the Airpark, along with a definable brand. Those two efforts are now in progress. Progress in economic development this year should drive activities that:\r\n

  1. Build the sense of \”community\” – connect the resources that make this area such a desirable place to live, work play    \r\n
  2. Attract investment from outside – Other states, other countries, there is a real opportunity here, let\’s get the word out\r\n
  3. Develop public-private partnerships – that make sense and give us a competitive advantage (or at least equal footing)\r\n

These activities will be developed in the days and weeks to come. Will you be part of this effort? What do you think?\r\n

Three things people never forget

December 7th, 2010
  1. Solid handshake – first impression\r\n
  2. Staying true to your word\r\n
  3. Offering assistance (unsolicited)\r\n

Think about those three things this holiday season and on into your 2011 business year. What impression will you leave behind?

Is your community connected?

November 30th, 2010

From your office or home, you can easily reach an audience far from your location. Using your web site, emails, on-line meetings, etc. you can share your product or service, or thoughts and ideas globally. But is anyone listening? Have you gone out to meet the neighbors in your business community? Have you found that great little wine bar tucked away two blocks away? Have you found customers and business partners in the surrounding buildings? What recommendations have you received? A connected community is not just online. We share interests including location, weather, favorite meeting place, etc. You may be surprised to find how much you have in common with the firms in your community. It still pays to get out and \”press the flesh.\” What do you think?

Is a road show a leading indicator

November 16th, 2010

As part of our outreach effort here in the Scottsdale Airpark we are meeting with business leaders to understand their goals and purpose in locating their business in this area. During the meetings I always come away having learned something that I did not expect to learn. For instance, in talking yesterday with Mike Aaby of AeroJet Services, I learned about corporate \”road shows\” as an economic leading indicator. Apparently, when the economy is on the upswing, Mikes jets routinely carry corporate leaders around the county introducing new products, updates etc. In or meeting yesterday, Mike stated that he had not done a road show in two years, but now is planning for three new trips. Can we take that as a sign of economic growth to come? What do you think?

Airpark Vision/Branding

November 9th, 2010

It is common knowledge that the Scottsdale Airpark is the second largest economic engine in the state.  However, it lacks a definable brand and vision, largely due to the manner of development in this area. The Airpark brand should take is direction from a community approved Airpark vision.  This vision must contain elements that are more than conceptual, they must be measurable.  Those measurable elements provide direction to city and state leaders, as well as communicate a strong position to those outside of Scottsdale looking to make an investment in the Airpark. Critical questions should be addressed: Why is a brand important for the Airpark? Who develops the brand? Who owns the brand? How will the brand be communicated? Etc.\r\n


One key to success in developing and promoting the brand is the linkage to the community. Successful communities with similar initiatives have three basic things:\r\n

  • Clarity of Vision\r\n
  • Leadership/Stewardship of key people in the community with a strong sense of community\r\n
  • Integration among various members of community and commitment\r\n

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The first point: \”Clarity of Vision\”, is a focal point. Our vision must go beyond the obvious and direct resources into the areas that will fuel our success for many years to come. Rather than hone shopping and tourism aspects (we do those well already), let\’s develop our business might in industries that will bring high paying jobs, retain and attract talent, and be a magnet for investment.\r\n

Here is an example of what vision statement might look like for the Airpark:\r\n

The Scottsdale Airpark is where business in Arizona takes flight. The vibrancy and amenities of our community provide for a live-work-play experience that is as rich as the surrounding beauty of the Sonoran desert. The Airpark will attract no less than 5,000 new jobs in the next five years with an average salary of $65,000. Based on centers of excellence currently under development in Airpark \”Districts\” growth will come from the following industries:\r\n

  • Aerospace/defense\r\n
  • High tech\r\n
  • Health care and bio tech\r\n
  • Light manufacturing\r\n
  • Business services\r\n
  • Retail\r\n
  • Hospitality\r\n

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The Airpark encourages private/public partnerships that make sense to foster this growth in a responsible manner, extend the reach of our economy, and attract the finest talent possible.\r\n

The final version of this statement may look different, but it should contain the elements that communicate what, when, and how, at an appropriate level of detail.\r\n

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Election Day, So What????

November 2nd, 2010

Today, 11/2/10, is Election Day. I already voted. I hope you did also. Did you vote for a person or a party? Will it make a difference? I frankly am tired of football game politics. It\’s our team or their team. We are so polarized at this point that we fail to recognize that most of us are centrists and closer together in thinking that Fox News or MSNBC would have you believe. Anger takes the place of relevant communication that solves problems. Labeling is more important than understanding of ideas. Election Day it is a good time to reflect on what this country really needs: good ideas and solid citizens that can execute on those ideas. What do you think?