CIO's Are The New Brand Leaders

There is a growing school of thought that if you don't have the IT brains of the organization at the brand table then you are falling behind. The growing importance of digital marketing and e-commerce to the success of a complete 360 brand experience is no longer in question in my mind. If your transaction engine does not exude the brand persona of the online and offline marketing communication programs then your corporate brand strategy will fall apart. More and more transactions are occurring on the websites of organizations and these transaction engines and online catalogues are branding touch points that are most often the domain of the CIO not the CMO.

So, the link I have included to second survey by McKinsey on the role of IT in the corporate world tells us, the new normal is the CEO and CIO getting together from the start on key strategic issues. I go one further and say the CIO needs to be part of the entire brand discussion with today's CMO's.

Click on the link to see the survey.

 https://www.mckinseyquarterly.com/Business_Technology/BT_Strategy/IT_in_the_new_normal_McKinsey_Global_Survey_results_2473

The New Normal in Strategic Thinking

The term "new normal" started to appear a few years back before the global economic troubles but it has picked up real energy in the past year as many realise that business and organizations will probably never work like they did before the economic meltdown.

I have enclosed a good conversation on the topic that McKinsey recently had with some Chief Strategic Officers from Visa, Boeing and Estee Lauder. What is key to me is the planning cycle mentality moving from annual to quarterly to ongoing, and the flexibility required within organizations to deliver on this new reality and ensure alignment inside the organization can keep up with this new faster pace of planning.

Enjoy the 7 minute video below or click on the link.

www.mckinseyquarterly.com/Strategy/Strategic_Thinking/Navigating_the_new_normal_A_conversation_with_four_chief_strategy_officers_2476

How Web Marketing Can Kill A Relationship

A few weeks back I had my Korean car dealership contact me on the phone and say they were just updating their files and wondered if they could have my email address in case they rarely needed to let me know about recalls and other very important information about our vehicle. On the belief it would not be abused I gave them the details.

Well they blew it. The next day I got two emails about their great service and how they can sell me a new car. I was getting emails almost daily to the point I finally opted out of the mails. I am not interested in a new car, and I am now sure not interested in one from them.

The point is I liked these guys until they abused my relationship with them. So be careful of how often you engage your clients on-line especially if you told them you would not abuse their trust. Be smart and respectful of your relationships with your customers and don't kill a relationship by over marketing to it.

Pranav Is A Game Changer

While sixth sense has been talked about, Pranav Mistry is no longer talking he is doing. What he and MIT labs have invented is just mind blowing, and technology manufacturers must be sweating as he plans to give it out the the world in an open source manner.

Amaze yourself and take the few minutes to see Pranav talk about his inventions that will change the way we communicate and use information technology. You may have seen Pattie Maes talk at TED back in March 2009 about Sixth Sense but you must see and hear Pranav(at TED India this month)explain the future. Now this is smart front end thinking!

Click on the link below to be amazed.

Environmental Consumerism Is All Talk

In the past two months I have been working on some projects for clients that had an environmental angle to them. It was some surprise to me that we have really not moved that far when it comes to commercialising environmental products or services. I remember when green products came into being in the late 1980's in Canada, they were more expensive than traditional products so very few people bought them. It was apparent then that people wanted to talk about it but did not want to be involved if it would hit their pocket book too hard. Well I think we are still in this mindset some twenty years later.

The idea of using environmental products or hosting environmental conferences and meetings is the politically correct thing to do. However many people will not pay more to switch, and for sure will not switch if the trusted results of the status quo are not guaranteed.

We have a long journey ahead to convert the masses to become environmental consumers. The turning point may be generation-Y that truly believes they will be living with the consequences of in action, because the dominant generations of the day do not feel the pain so they are not taking action. Somehow organizations have to personalise the need to take action, as currently the impetus is too vague and big to motivate the average person.

Wonderful Video Presentation Style

I came across an excellent video by the folks at Xplane video in Portland Oregon. Besides the subject matter being timely (even if skewed to US audience), I think viewers should look at the wonderful presentation style. Simple and easy to read graphics and type. My only concern is the copy does not stay up long enough in some cases.

Great example of the power of great presentations and a great update on the changing media landscape.

Surprise WEB 2.0 Is Working!

A recent study by McKinsey, in fact the third year of the study, indicates that "69 percent of (the 1,700) respondents report that their companies have gained measurable business benefits, including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues."

I hope no one is surprised by the finding. What should you expect when you enter into a dialogue with your customers and employees instead of just pushing information you think they want out to them. One of the biggest technology increases and effectiveness, both with employees and customers, has been the use of video. To me this just highlights the need to make communication easy to understand and engage with no matter what marketing tool you are using.

So if you are part of the 30% that do not yet buy into the power of web 2.0 (blogs, RSS feeds, microblogs-twitter, social networking-facebook, wikis, podcasts etc.) understand that chances are your competitor is and probably growing their business because of it.

For a full read of the McKinsey study follow the link below.

http://www.mckinseyquarterly.com/How_companies_are_benefiting_from_Web_20_McKinsey_Global_Survey_Results_2432

Do You LEAD On The Web?

Surely by now you have all heard or read about the move from web 2.0 to 3.0, basically preparing to involve and respond to your customers on-line like you never have before. Really you haven't, amazing just amazing. Relax neither have most business leaders.

Well for most of us then the attached article from Donna Hoffman who is a professor of marketing at the University of California, Riverside, and the codirector of the UCR Sloan Center for Internet Retailing, will be a great conversation starter as McKinsey calls it.

http://www.mckinseyquarterly.com/Managing_beyond_Web_20_2389

In short LEAD (listen, experiment, apply, develop) developed by the Sloan Center is a simple model that will help companies thrive in the ever changing online world. I am no Internet wizard but I am smart enough to know that you have to be engaging with your customers on-line beyond just pushing stuff out to them. I have been saying for a very long time its a dialogue not a monologue with customers that will be build the brands of tomorrow and one key tool in the marketers tool box is web 2.0-3.0.

LEAD reminds us that beyond starting the dialogue you need to experiment with it and continue to stay engaged with your customers as they themselves experiment with the wild and wonderful world of the web.

Youth Not Feeling "The Love" At Their Bank

I recently finished moderating some focus groups with 18-24 year old Edmontonians. Part of the discussion dealt with how they wanted to be treated by financial institutions in their city. In short no participant felt their current bank was matching the vision of service they wanted from their ideal bank.

So it made me wonder, do banks really value the younger clients, the clients that will be their most profitable in a few short years. This younger generation (gen-y) is as big and will be as powerful as the current dominant baby-boomer generation, yet they do not feel their specific needs are being met by their current bank. My forum did not allow for a deeper dialogue on the issue but it is clear if I was a bank or financial institution in Edmonton, I would be taking a serious look at my youth strategy going forward.

Sustainability Of The Fitest

I have been talking sustainability to my clients for a long time. I believe that to be a successful brand and business you must be differentiated from your competitors while being relevant to your customers so they will continue to buy what you are selling. If you stay relevant you will be sustainable. You stay relevant by understanding what drives the hearts of your customers and deliver on their wants and needs.

So I love a great sustainable story and I have one to share with you. The link below to McKinsey Quarterly I think will provide you with a fresh, albeit not new look, at sustainability. It goes well beyond the current hype around being green and involves the former green leader from the Sierra club turned marketing sustainability leader, Adam Werbach.

Enjoy the read and remember to watch the video as it is I think required viewing for anyone who has been confusing sustainability with being green.



http://www.mckinseyquarterly.com/When_sustainabillity_means_more_than_green_2404

Smooth Sailing

As many business leaders try to grapple with the harsh reality of today's market, I believe that many leaders do not really understand what their businesses are actually doing (or as I ask my clients..."what business are you really in") and have become so focused on their end results.

A recent piece in the McKinsey Quarterly talks about this and refers to it as the "Smooth Sailing" phenomenon, where if all appears to be going well then it is, and they are really not prepared for the underlying realities that all markets eventually bring up. The following is a great quote from the piece. I will post the link to the entire McKinsey article after the quote.


"I think that what has been the big wake-up call for people—and why they feel disquieted—is because they know in their gut that they don’t know where they’re going. They can’t see the future. And they haven’t got a business model and a strategy designed for an uncertain, unpredictable environment. They've got a strategy and business model for smooth sailing."

http://www.mckinseyquarterly.com/Management_lessons_from_the_financial_crisis_A_conversation_with_Lowell_Bryan_and_Richard_Rumelt_236

China Crawls Out Of Recession

A great link from McKinsey to a good conversation between some thinkers on China from the China point of view.


http://www.mckinseyquarterly.com/Economic_Studies/Country_Reports/Is_China_recession_proof_2366

China By The Numbers

Last week I and a peer held a seminar in Edmonton on the opportunities for growth that exist by doing business with China. As often happens, when I finish talking about China, people's minds are blown by the veracity the numbers discussed.

It has been my experience that until you begin to understand the vast potential that exists by going way west to China, you are doing your business a great disservice and missing what could be your greatest growth opportunity...ever!

So start to engage your mind on China and begin to make the numbers work for you.

Are You Referable?

I spoke at an executive workshop in Edmonton yesterday. It was built around helping leaders step back and rethink about tools and strategies they could possibly employ to gain growth going forward.

One reminder I wanted to share was ensuring you and your business are acting in a manner that will encourage other businesses to refer your goods and services. Are you being trustworthy and responsible? Are you living up to what you promise? As Jared Smith from Insight Solutions pointed out, think of the traits you look for in the firms and people you refer and then ask yourself do you practice these same habits.

All in all the mood from the executive's was that business is soft in some areas but growing in others. The key was to be flexible and be aggressive towards uncovering business. As I have said many times in this blog, it is time to rethink your marketing strategy and ensure you are talking to the right people and offering them something that is relevant to their current needs (if you know them).

Time To End The Hostage Crisis

"The world economy has effectively lost its sugar daddy." this is how Douglas Porter from BMO views the economic malaise that is underway in the United States. See the link below for the full article in the Edmonton Journal.

http://www.edmontonjournal.com/Business/sugar+daddy+save+banker/1497637/story.html


Past growth for most Canadian businesses were in some way tied to the United States. Today these traditional growth models lay in ruin. It was all to easy to just look south for our growth. In fact we were blinded by this ease and now we are miles behind other nations when it comes to building growth models from other markets. Today China represents the best growth opportunity for many Canadian organizations. Just read the front page of the latest Edmonton Chamber of Commerce news letter titled “Sino-Canadian Trade Potential” for the latest opinion on the matter.

So, does your business have its China strategy yet?

Required Viewing about China and India

As we sit in Western Canada with our traditional options for growth in Canada and the United States under pressure, we must continue to look to Asia for the outstanding growth opportunities.

The link below is to an excellent September 2008 interview with Tarun Khanna from the Harvard Business School on the entrepreneurship and opportunities being developed in India and China. Do yourself a favour and take 16 minutes to widen your mind.



http://www.mckinseyquarterly.com/China_and_India_the_power_of_complementary_cultures_2290?pagenum=1#khanna

Why the fear of knowing your market?

Why is business afraid to learn what their customer has to tell them? Maybe if they don't ask them they won't have to change their business model if they learn they are no longer providing a need that their customers want. Maybe it's just easier to die a slow death watching customers go to the competition down the block. For the past year I have been travelling around Alberta and I find it interesting that most businesses do not believe in research that helps them better understand their lifeblood; their consumer or customer.


Often the SME believes they already know the market they are selling to. They've worked in it for years, or they are out meeting customers every day. They find it difficult to get their head around paying for consumer insight they think they already know. The point is do they really know what is driving consumer choice right now? Do they really believe that what consumer's did in the past 10 years will be what they do today? Do they really believe seeing consumers everyday is the same thing as understanding their consumers' emotional drivers and trigger points?


When it comes to paying for some insight sessions and the insight report generated from them, many balk because they are not familiar with the benefits it will have on their business. This is an attitude that businesses in the West need to face if they want to be differentiated and sustainable going forward.


Simply put, if you do not know who you are communicating with, and how their ever changing beliefs impact every aspect of your business, then you will not succeed. Spending time and money on uncovering what makes your lifeblood tick is probably the most important investment you will make in these uncertain times.

Take Stock Now

The task of a business leader is to overcome the paralysis that these tight economic times can bring, and begin to shape the future for your company.

To do this you must start by taking stock. What do you really know about your market and industry? How has this current state changed it? Guaranteed it will not be the same as it was four months ago, let alone when you did last years strategic plan (if you did one).

By taking stock of the consumer and competition you will gain understanding that will result in critical and timely changes in strategy. These strategies will need to take into account the high likelihood of change that is still to come, and differentiate by addressing the barriers that will stand in the way of your stated mission and objectives.

In short, companies that spend time and money figuring out what matters to their customers today, and then cutting or funding projects accordingly, will be the companies that thrive in the months ahead.

So how many businesses in Western Canada are doing just this. I dare say not enough. Too many are becoming paralyzed.

"Sure we can build you a new site, but why?"

I was speaking with a peer the other day and the issue of thinking versus doing came up. We were talking about how the advertising industry has continued to slip further in the area of ability to think bigger picture about their client's business challenges. Many marketing communication firms can "do" stuff but how many can really provide thinking that will help grow their clients business. How often are agencies saying "Sure we can build you a new cool site, but why?". From what I see not often enough.

In this time of pressure, the ability to think is the most precious ability of all, and the marketing services industry needs to be training its people to both "think and do" in order to be successful. Clients want to believe they are paying for minds to help them solve their marketing and business problems. Anyone can pop out a logo and some creative, the question is why is this the content that will build their clients business. I mean really, why?