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Do Your Prospects Understand You?

Closeup of woman giving weird smile holding piggybankLast week I met a brilliant and driven solopreneur at a networking event. When I asked her to tell me about her business I could feel my eyes glazing over and my mind wandering to the buffet table without my body in tow. Now, I’m a great listener and I have a strong passion for business. Even so, my new acquaintance couldn’t keep my attention.

As I pulled myself back to the present, I worked hard at taking in this business owner’s concept. It was then that I realized the problem – she was making me work to “get it.” She had a unique, and potentially profitable, twist on her area of expertise and proceeded to explain it to me in lengthy, highly technical mumbo jumbo. It was only the passion and excitement in her voice that kept me focused and piqued my curiosity.

I often have the same experience when I visit my prospects’ websites. What do they do? And who do they do it for? Now, they think they’re doing a great job of explaining their product or service because every industry-specific word they can think of is scattered throughout their pages. But you know what? If I’m going to hire you it’s because YOU are the industry expert and I shouldn’t have to learn your language to truly understand how you can help me.

Try these simple tips to begin with: Record your 60-second pitch so you can hear it yourself. Listen to it as a newbie to your industry. Also, create a 10 second pitch.
Read your marketing content from a fresh perspective. Take a look at your homepage. Count the words over 2-3 syllables and the ones that the average “Joe” wouldn’t use in their everyday vocabulary. Is your content written above the 8th grade level? Did you know that the average reading level in the US is between 8th and 9th grade?

The genius behind great content is the ability to write in a way that the marketplace can understand it without having to work too hard. Information is being pushed to us all day long, it can be exhausting! Identify with your prospect. Let them know that you understand their problem and that you can help them fix it. People buy from an emotional place, connect to their emotion.

Try starting your verbal pitch with a question or a statement that will get the person’s attention. The other day I asked a solopreneur if she ever felt like she owned a hobby, rather than a business. Did she ever wonder if she’d bring home a bigger paycheck by working at the coffee shop? She laughed and asked me how I knew? Then I simply told her that I knew because I have helped hundreds of people just like her to turn their businesses into money-making machines. Simple and short; that’s all it took. I had just found a new client.

Whether you’re writing or speaking, ask yourself a simple question. “Am I making them work too hard?” Catch the industry-specific words and use metaphors and analogies instead. Remember that the mind thinks in pictures. The better the picture you paint, the easier it is for your prospect to grasp what you can do for them. Today you are an artist; tomorrow you are more profitable.

Source: Inc.com

February’s Top 10 Innovation and Marketing Articles

Blog - Top 10

This year I thought I would experiment with a Top Ten list at the beginning of each month, profiling the ten posts from the previous month that generated the most traffic to Blogging Innovation. So, without further ado, here are February’s ten most popular innovation or marketing posts:

  1. Two Biggest Mistakes in Social Media – by Mike Brown
  2. Radical Innovation of Meaning – Apple iPad – by Hutch Carpenter
  3. Four Models for Competitive Crowdsourcing – by Hutch Carpenter
  4. Aligning Social Media, Marketing and PR – by Matt Heinz
  5. 56 Reasons Why Innovation Initiatives Fail – by Mitch Ditkoff
  6. Bill Gates Coming out of Retirement? – by Anonymous Microsoftie
  7. Reverse Innovation a Popular Trend – by Yann Cramer
  8. Innovation Metric of Leading Companies – by Stefan Lindegaard
  9. Are MBAs becoming irrelevant? – by Idris Mootee
  10. Ideas Are Core to Enterprise 2.0 – by Hutch Carpenter

Source: Blogging Innovation

5 Ways to Prepare for a Social Media Disaster

I watched the @ThatKevinSmith and @SouthwestAir brouhaha erupt live on Blog - Social Media DisastersTwitter but didn’t write about it last week. Bunches of tweeters and bloggers hashing out who was right and wrong based on second, third, or five hundredth-hand information simply wasn’t interesting enough to warrant adding to the noise.

Getting ready for a social media presentation this week though, I’ve been thinking about service defects and service recovery in the world of social networking.

I sought an analogy to help think strategically about how a company prepares for an angry customer who wants to be heard and starts tweeting incessantly: handling a hostage situation is very comparable. Rather than a person though, it’s a brand’s reputation being taken hostage by a customer threatening irreparable harm unless demands are met. With the one-to-many communication capabilities of social media, this type of threat has never been more credible.

Here are five hostage negotiation principles and related implications for preparing to handle when your brand’s good name is being held hostage:

  1. Have a negotiating team ready – This means more than a single person monitoring Twitter and handling responses. In hostage negotiations, the primary negotiator, who is ideally the sole contact with the hostage taker, is joined by a coach/commander in charge of the situation and personnel along with a secondary negotiator to help monitor, listen, and offer input.
    • Strategic Questions – Does your company have a pre-identified team and protocols for how it will work together in a social media-based service recovery effort? And how would you incorporate front-line employees when you’re trying to recover from a service failure playing out both at one of your company’s locations and online?
  2. Gather as much solid information as possible right away – Beyond having standard questions to run through, there’s added complexity in a social media-based service recovery effort. Suppose the customer issue IS taking place in-person. With social media monitoring removed from the scene, it may not even be possible from a customer’s messages to determine where the issue is occurring. This creates an interesting implication for enacting rapid service recovery.
    • Strategic Questions – If it’s clear the issue is taking place in the presence of front line employees, what steps will you take to identify the location and establish communication with them immediately? Since multi-person communication with the angry customer is almost a given, how will you ensure your multiple contacts are speaking with one message? View the rest of this posting »

How to Present Your Business to a Crowd

Study: Women Rock As Small Business Owners

Women are proving themselves to be a powerful small-business force to be reckoned with.Blog - Successful Women

Not only are women-owned firms contributing $3 million annually to the U.S. economy and accounting for 16% of all jobs, but new research shows women entrepreneurs will create 5 to 5.5 million new jobs across the U.S. by 2018 – more than half of the total new small-business jobs expected to be created during that time, and about one-third of the total new jobs anticipated by the Bureau of Labor Statistics.

That research, recently released by The Guardian Life Small Business Research Institute, also shows that characteristics such as being more customer-focused, more likely to incorporate community into their business plans, and more adept at creating opportunities for others are helping women excel in 1) running a business 2) keeping employees driven and productive and 3) building a loyal customer base.

“As owners and managers, [women] are much more diligently engaged in the strategic and tactical facets in their business. They are more proactively customer-focused,” said Mark D. Wolf, director of the institute. Also, “they’re more intensive about saying things like, ‘I turn my customers into friends.’ Can you imagine the CEO of a major automotive business saying, ‘I turn my customers into friends?’”

In fact, the only things that ranked higher for women than importance of their customers were family and religion. Women also were found, on average, to feel more strongly than men about creating a positive work environment, being able to pay employees better and making employees feel as if they are part of a team. The data also suggests women are more focused on making meaningful differences between themselves and their competitors, and are intent on finding ways to take advantage of their current economic situations. Experts say women also typically reach further into social networks and support systems for help in their business, and more often than men can finesse the art of multitasking, via their roles as caregivers at home and as bosses.

Experts say hopeful male entrepreneurs should take notes on what has been giving women business leaders an edge.

“If women are doing things that unleash peoples’ potential … and if someone has a choice between the two [a male- or female-owned firm] and starts to get wise …” Wolf said. “Men should probably look to owning and running their business more collaboratively and more as a team.

“While there certainly needs to be someone who makes the final decision … I think it’s the collaborative, all-inclusive approach where women have a much greater level of intensity about that they could learn from.”

Many women business owners said they chose to start their own business – primarily in industries such as services, health care, communications and similar areas – because they were dissatisfied with the corporate track and sick of worrying about office politics. And another reason noted: the glass ceiling.

“There’s not a lot of opportunity for women to reach the executive level of boardrooms,” said Helen Han, president of the National Association of Women Business Owners (NAWBO). View the rest of this posting »

56 Reasons Why Innovation Initiatives Fail

Blog - InnovationInnovation is in these days. The word is on the lips of just about every CEO, CFO, CIO, and anyone else with a three-letter acronym after their name. As a result, many companies are launching all kinds of “innovation initiatives” – hoping to stir the soup. This is understandable. But it is also, far too often, very disappointing…

Innovation initiatives sound good, but usually don’t live up to the expectations. The reasons are many.

What follows are fifty-six of the most common ones – organizational obstacles we’ve observed in the past twenty-two years that get in the way of a company really raising the bar for innovation.

See which ones are familiar to YOU. Then, sit down with your Senior Team… CEO… innovation committee, or best friend and jump start the process of going beyond these obstacles. Let the games begin:

  1. “Innovation” framed as an initiative, not the normal way of doing business
  2. Absence of a clear definition of what “innovation” really means
  3. Innovation not linked to company’s existing vision or strategy
  4. No sense of urgency
  5. Workforce is suffering from “initiative fatigue”
  6. CEO does not fully embrace the effort
  7. No compelling vision or reason to innovate
  8. Senior Team not aligned
  9. Key players don’t have the time to focus on innovation
  10. Innovation champions are not empowered View the rest of this posting »

What is WOM and how does it relate to Social Media?

Blog - Word of MouthWhat is Word of Mouth (WOM)?

WOM has become the term for information (good/bad) about you, your product/service, company, or brand that is passed from a person to a person (in various means) with the result of an action being taken.

It is the opposite of mass advertising. It is generally understood that is is a person not associated (employed) with the source of the WOM. (Else they would be considered a spokesperson, not a WOMer). However, a spokesperson can provide tidbits of information to help make it easier to spread the word.

In our interview John mentions Malcolm Gladwell’s 2000 book The Tipping Point. Malcolm explains how ideas spread through: Mavens, Salesmen, and Connectors. John sees this as the birth of the idea of Word of Mouth as a tool.

I don’t think people realized the business application for WOM until around 2003 as a result of the December 2003 HBR article “The One Number You Need To Grow” by Frederick Reichheld. He says the best (and only) question you need to ask customers (to gauge satisfaction) is:

“How likely is it that you would recommend
our company to a friend or colleague?”

Companies began to focus energy around the idea… “What do we need to do (tools, process, mechanisms) to help people recommend us?”

As the article points out… “When customers recommend you, they’re putting their reputation on the line. And they’ll take that risk only if they’re intensely loyal.”

Since then, we’ve been trying to find ways to reach these potential promoters directly to tell THEM about our services, product, and company.

The History of WOM

We humans are good at WOM…

In grade/high school it is called gossip:

  • “OMG, did you hear homecoming king, Simon is dating cheerleader Paula?”

As adults, WOMers are called busy bodies.

  • “OMG, did you hear Simon is cheating on his wife Paula with Ellen, the Blizzard girl at Dairy Queen?”

Water-cooler talk the morning after a Seinfeld episode or American Idol show is WOM.

  • “OMG did you see the way Simon dissed Paula’s vote of Sanjaya?”

It’s the tag we’ve stuck on people talking to people with a message that isn’t controlled by the source.

Trying to foster WOM as a marketing strategy is our way of trying to create a script for that conversation. To provide bullet points, helping the informant with their facts, (and our propaganda).

We’ve always relied on WOM for things like babysitters, finding a good accountant, or a restaurant recommendation.

Generating WOM is the way that babysitter, accountant, or restauranteur does things in hopes of word spreading faster, more efficiently, or with “the right” information.

Is WOM taking back seat to social media?

Creating WOM isn’t as simple as ringing your agency and asking for a press release or an ad in the Sunday newspaper. Furthermore, it isn’t something assigned to a single person. WOM happens when the whole organization is working together in a way that provides a remarkable experience for the customer.

Social media tools make it easier for people to connect on a one-to-one basis, for a ‘conversation’ to happen, and for them to share that conversation with others.

Social media tools are quick and easy for us to access – I can set-up Facebook, Twitter, or a blog in minutes. Furthermore, they’re easy to track. See how many friends, followers, re-tweets, and comments I receive. My numbers are up from last month to this month – I must be doing better.

For all these reasons, social media is appearing to be the “thing.” It is important to understand that creating WOM is a strategy, and social media tools are a few of the many tools to help with that strategy. People talk about social media tools as the magic bullet to successful marketing. However – like any tactic – you must first determine if they are the right tactic for you to connect with your customers.

Source: Sand Blog

The CEO Wears Coveralls

A reality show that places executives in menial jobs taps into TV’s populist streak

A Problem-Solver’s Guide to Copycatting

Your business has a big problem. You’ve thought about it, but you can’t seem to crack it. So you consult your colleagues — to no avail. Then you turn to the big guns — your industry’s top experts. They’ve got nothing. (Well, to be precise, they’ve got 40 PowerPoint slides worth of nothing, and you’ve got $225,000 less of something.) Now what?Cookie Cutters

You might take some inspiration from Pete Foley, associate director of the cognitive science group at Procter & Gamble, who was looking for an inspired solution to challenges faced by P&G’s feminine-care business unit. Its R&D staff had pursued several approaches, but none of them offered the breakthrough that Foley craved. So he did the next logical thing: He took his team to the San Diego Zoo.

The zoo is developing a specialty in biomimicry, a discipline that tries to solve problems by imitating the ingenious and sustainable answers provided by nature. In a working session with the company, the zoo’s biomimicry experts made an unexpected connection between P&G’s problem and the physiology of a gecko. Other ideas came quickly, inspired by flower petals, armadillos, squirrels, and anteaters. (Full disclosure: Chip led a workshop with the biomimicry team on another issue.) By the end of the day, the working group had generated eight fresh approaches to the challenge. It was as if Ideo had opened an office on Noah’s Ark.

Most of us don’t solve problems this way. We start by tapping the local knowledge, and if it’s insufficient, we go looking for specialists. But what if we’re following the wrong protocol? We should stop looking for experts and start looking for analogues. It’s a big world: Chances are someone has solved your problem already. And she might be an anteater.

Let’s say you’re looking to create a detergent that works superbly in cold temperatures. This would seem to be a Chemical Engineering Problem. But, as the zoo’s scientists tell us, it’s also an Antarctic Icefish Problem. When the icefish eats other fish, it has to digest the oils of its prey, and this process is remarkably similar to what happens in the wash with the oily taco stains on your T-shirt. Furthermore, the icefish typically dines in water as cold as — 2 degrees Celsius. (Try that, All-Temperature Cheer!) So, thanks to this cold fish, you have a working model for an ultra-low-temperature detergent — and it’s a solution that would have never occurred to an expert. The model also suggests that the world’s auto-safety leaders ought to be studying cockroaches, which routinely walk away from newspaper swats that must be the equivalent of dropping the city of Cleveland on your Corolla.

Exotic animals are clearly not the only place to look for answers. What if another industry has solved your problem? In 1989, the pilots of the Exxon Valdez ran it into Bligh Reef, spilling enough oil to cover 11,000 square miles of ocean. To finish this cleanup job, you’d have to clear an area the size of Walt Disney World Resort every week for about five years. One major obstacle was that the oil and water tended to freeze together, making the oil harder to skim off. This problem defied engineers for years until a man named John Davis, who had no experience in the oil industry, solved it. In 2007, he proposed using a construction tool that vibrates cement to keep it in liquid form as it pours. Presto!

Why is it counterintuitive to look outside our own turf for answers? “If you’ve spent five or six years getting a PhD, or 5 to 10 years in the field itself, you’re a domain expert,” says Karim Lakhani, an assistant professor at Harvard Business School who studies innovation. “You can’t imagine that someone else may have a different perspective. But problems that are difficult in one domain may be trivial to solve from the perspective of a different domain.”

The trick, of course, is locating that elusive person who’d find your problem trivial. If this hunt were easy, we’d all be problem free. We could resolve life’s great mysteries with epiphanies sparked by toucans and frozen-yogurt machines.

But while the hunt may not be easy, it’s not random either. It’s about pattern matching. Ask yourself who might have solved a problem similarto yours. For instance, health-care advocates trying to reduce medical errors have learned from total-quality-management experts in the manufacturing world who obsess about ways to reduce product-defect rates. Olympic swimwear designers, intent on reducing the water’s drag on swimmers, have enlisted help from NASA engineers who make aircraft more aerodynamic.

The biggest barrier to the idea hunt, in fact, may be you. It may never occur to you to start searching because we all commonly keep our thinking penned up within our company or industry. How can you overcome this conformist instinct? We’re not entirely sure, but a good first step might be a workshop with the Hells Angels.

Source: Fast Company

Road Map for Making an Organization Exceptional

“Outstanding!” Author John G. Miller on what makes some organizations outstanding.