Think West

Wonderful Video Presentation Style

2009-09-30T15:07:00.000-07:00

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!

2009-09-29T14:49:00.000-07:00

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?

2009-07-27T14:32:00.000-07:00

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

2009-07-23T13:06:00.000-07:00

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

2009-07-14T14:12:00.000-07:00

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

2009-06-17T15:09:00.000-07:00

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

2009-06-16T14:48:00.000-07:00

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

2009-05-25T13:48:00.000-07:00

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?

2009-04-30T08:43:00.000-07:00

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

2009-04-16T10:10:00.000-07:00

"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

2009-03-17T14:34:00.000-07:00

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?

2009-01-28T09:56:00.000-08:00

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

2009-01-22T13:47:00.000-08:00

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?"

2009-01-14T13:42:00.000-08:00

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?

It's Not Back To The Future

2008-12-02T10:14:00.000-08:00

A recent quote from McKinsey Consultants e-newsletter could not have said it better.

"Companies that follow the playbook from past recessions will probably chase markets and segments made less attractive by the present downturn and focus too many resources on traditional marketing vehicles and front line salespeople. To avoid these costly mistakes, marketing and sales executives must dynamically reassess their geographic, customer, advertising, and sales force priorities, with constant attention to the ever-shifting economics of this downturn."

The game has changed so much since the last downturn. Business needs to take the time to assess where they are going, who they are best to be talking to, and what marketing tools are the most efficient and effective at making an impact.

This means you have to have some means of assessing or measuring your consumer, market and industry performance. Your "front-end" thinking needs to be recalibrated in this new world to keep you competitive, differentiated and sustainable going forward.

"Front End Thinking"

2008-11-25T14:22:00.000-08:00

While the marcom world obsess with all things interactive, who in the organization is doing the "front end thinking'? Really though, as we chase after the coolest web site or web 3.0 application, who is taking the time to see if the insights that are driving the overall organizational communication plan are sound, differentiated and actionable within the environment it operates?

I have met so many web firms, interactive specialists, web n.0 people, and this is all great as it is indeed the current "center of influence" of marcom. However, all this effort around content and the latest way to deliver it, is useless unless someone is minding the overall organizational brand "insight and strategy" store.

When did you last ask, "how do we generate our insights". Are they really insights or just verbatims of what some really tired consumers or customers told us in the last research we did.

If the insights are weak, then the strategy is flawed. If the strategy is flawed then the ideas that spring from it are less than big. If the ideas are not big then the content flowing from it, offline or online, will not be differentiated. If the content is not differentiated then you have little movement in customer action or your bank account.

So while you are being impressed by the latest of the online world, remember to ask about your organisation's "front end thinking".

How to spend 500+ Billion

2008-11-14T10:39:00.000-08:00

A friend from Asia mentioned something recently that I think bears repeating.

"quite a situation we're in, the US is spending $750bn bailing out banks /auto (and in essence getting nothing for this save avoiding bankruptcies) and meanwhile China is spending $550bn on capital infrastructure investment that will surely increase their economic and commercial competitive advantage for the end of the recession !! "

I believe strongly that Canadian business needs to take a long hard look at their China Business strategy, because going forward China is the growth model for your business.

Only 17% Have a China Strategy

2008-11-13T09:56:00.000-08:00

A study released one year ago by the Canadian Manufacturers and Exporters stated that only 17% of Canadian manufacturers had a China strategy. Furthermore 20% did not know if they had a china strategy or not!

Just look at the headlines these days that deal with economic gloom and the retrenching of consumers in the United States, and then ask yourself why any smart Canadian business would not at least be developing their China Strategy.

The rewards are huge if you do your homework and get the proper connections built. It is not easy but gaining access to what Goldman Sachs projects will be the world's largest economy in about 10 short years, demands the effort.

Do You Dialogue or Monologue?

2008-10-15T12:46:00.000-07:00

It has always been critical to talk with your customers, and as we know this has been super critical since the customer got access to a keyboard and the Internet. The key though is how you are engaging with them (key word being engaging). If you are just talking at them in your communications, including the Internet, then you are in a monologue and you are missing the boat.

Businesses that succeed have opened a dialogue with their customers. They ask for engagement in all their communications. It started first with the 1-800 number, then to a web address, and now to full blown social marketing on my space, face book and the like. The key is to talk with your customer AND offer them a chance to talk back. The younger generations are demanding this dialogue with the brands they support. The boomers are getting the hang of it now too, so the sooner you move from a monologue to a dialogue the better off your business will be.

Wall Street's Spin Meisters

2008-09-18T11:57:00.000-07:00

As I sit and read the Dow is down another 450 points after an earlier 500+ point drop I feel the need to ask the question why do consumers by the hype and BS peddled by market forecasters.
They are no more accurate than the weather channel and their story has to be getting old. Basically they say trust us we know when in fact their record over the past years proves they know nothing.

My point is why do consumer buy their spin. What is the fundamental underlying metaphor (as Gerald Zaltman refers to in his book Marketing Metaphoria) that guides this silly dance of hype and promises. An easy way to make money can't be the only driver but maybe its just that simple. When people are desperate for the easy buck they will believe anything.

Well It's Onto Vancouver

2008-08-08T11:14:00.000-07:00

Hardly has the glow from the amazing opening ceremonies in Beijing begun to warm the fans and athletes of Beijing 2008, that marketers must now turn their attention to Vancouver and 2010. Most of the Olympic marketing programs for 2008 are in place and many fully executed. You can expect the post games honeymoon to carry some marketers further, but most are now shifting their marketing sights to Vancouver. For Western Canadian marketers this means looking at opportunities to tap into this most powerful of all marketing opportunities. Some have done this and are well on their way, or at least should be by now, to putting their plans into action.

The point is that those marketers that have not yet looked at what this once in a life time opportunity can bring to their brand and its inhabitants, need to start now to seriously think about it. While the high profile and expensive sponsorships are gone, more affordable supplier relationships with VANOC should soon be up for grabs. As well, building non direct association programs to take advantage of the attention and interest that is attracted by 2010 may also be an appropriate plan for a smaller organisation that has ties to the Vancouver and area market.

No matter what approach you take, do yourself a favour and at least take some time to think of what 2010 could mean for your business in Western Canada...but do it soon as the world has already begun to look to the beautiful coast on the western side of Canada.

2009 Planning Season Starts Soon

2008-08-07T09:56:00.000-07:00

As we approach the typical planning season for many businesses, it was timely that the Conference Board of Canada just released its forecast for Gross Domestic Product percentage growth for the provinces in Canada in 2008 and 2009. These numbers will provide a key component of the macro environmental factors that business should take into account as they establish their marketing plans for 2009. Along with trends in demographics, socioculture, technology, regulatory, and nature, the economic trends going forward play a key role in determining the opportunities and threats for your business or client business in 2009.

So with this in mind lets look at the forecast for the provinces in the West, noting that the national economy is projected to grow only 1.7% in 2008 and 2.7% in 2009.

In 2008 Saskatchewan is picked to lead the West and Canada with a GDP percentage growth of 4.2%, followed by Manitoba at 3.6%, Alberta at 2.6% and BC at 2.2%. It is noteworthy that GDP growth is highest in all the Western provinces compared to those in Eastern Canada; another sign that economic power has shifted to Western Canada at the moment.

In 2009 Alberta is estimated to return to it Western GDP leadership role at 3.3%, followed by BC at 2.9% as they get even closer to the Olympics of 2010. Saskatchewan slows to 2.8%, as does Manitoba to 2.7%. The resource power of Newfoundland really kicks in to propel the province to a national GDP growth lead of 4.2% in 2009.

So for the upcoming 2009 planning season you need to factor in a slowing economy in Saskatchewan and Manitoba, and economic growth in BC and Alberta.

Why Should I Trust You

2008-07-10T09:41:00.000-07:00

Recently I have been paying more attention to real estate advertising in the Alberta market and it seems like every realtor is asking me to trust them to sell my home. Yet nobody is giving me any reason why I should. They all have a nice picture of themselves, I guess so I know who they are when they show up at my door, but no facts or insights on their credentials to sell my home. Some say they have sold lots of houses, but what have they done lately when its not easy to sell houses in Alberta.

Agents have had it good the past few years, now they have to really earn buyers and sellers trust, and to do that they need to have more than a generic selling line like "I get results" that is just as relevant on any local dry cleaner's communication. I would think that with the pressure this industry is under from no or low commission real estate marketers, that they would see the need to re-evaluate what their role is in the purchase of a home and throw away the boiler plate motivation lines that give the audience no reason to believe let alone trust.

The Near West

2008-06-16T16:07:00.000-07:00

Asia Pacific is not the "far east", it's the "near west" for businesses in Western Canada. The old axiom given to Asia Pacific is centuries old and reflected the power of the Atlantic Ocean business landscape.

Today the Pacific Ocean business landscape is driving the globe and Western Canada needs to fully participate in this reality. From technology power bases in California and Washington State, to seaport powers in California, Seattle, Vancouver and soon to be Prince Rupert, many companies are taking advantage of the "near west" of Asia Pacific. Whether they are importing to or exporting from the "near west' a large number of Western Canadian businesses have already built an Asia Pacific strategy. The question is why are so many other companies lagging behind when it comes to developing a relationship in some manner with the "near west"?

Expensive Oil

2008-06-07T08:23:00.000-07:00

Well oil is near $140 a barrel and here in Western Canada we are supposed to be hiding a pile of it. How do you see this fact affecting your market and industry in the next few months?