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Archive for the ‘building value’ Category

I agonized for a few days over what kind of brilliant advice I should share with you on this 1,000th post since the launch of the BrandBuilder blog before finally realizing that no. 1,000 is no different from 999, 1,001 or 356. So no more pondering, no more worrying about writing an epic post (the time for that will come again in due time), and no more waiting around for inspiration to strike. Today, instead of talking about social media, brand management, who does what well and who does what poorly, let’s just talk a little bit about leadership. Corporate leadership, that is.

And instead of doing all the talking, I will let people with a whole lot more experience than me give you some tips about how to become a better leader. Great stuff that transcends the typical leadership quotation mill.

Anne Mulcahy – Former CEO of Xerox

In a crisis, you have the opportunity to move quickly and change a lot – and you have to take advantage of that.

Change doesn’t happen if you don’t work at it. You’ve got to get out there, give people the straight scoop, and get buy-in. It’s not just good-looking presentations; it’s letting people ask the tough questions. It’s almost got to be done one person at a time.

There’s not a lot of room anymore for senior people to be managers. They have to be leaders. I want people to create organizations that get aligned, get passionate, get really inspired about delivering.

Stories exist at every level of the company. Whether it was saving a buck here, or doing something different for customers, everyone has a story. That creates powerful momentum – people sense that they’re able to do good things. It’s much more powerful than the precision or elegance of the strategy.

I communicate good news the same way I do the bad news. I thank people and make sure they feel a sense of recognition for their contribution. But the trick is always to to use the opportunity to talk about what’s next, to pose the next challenges. Where do we want to go? How do we want to build on it?

Margaret Heffernan – Author, The Naked Truth

Nothing kills morale like a staff’s feeling helpless. This often plays itself out when there are rumors of a new strategic shift or a major personnel move, or worse, when the papers are littered with bad news about your company. A big part of boosting morale is about constructing a haven of logic that offers individuals shelter from any storm. At its most basic, leaders have to communicate their awareness of business conditions and place their plans in that context. Each time [a CEO outlines] a future that comes true, he demonstrates his own competence and reinforces trust.

The happiest people aren’t the ones with the most money but those with a sense of purpose – a sense that they are contributing to something bigger than themselves. At least some of this has to derive from work. The purpose of a business, then, must be explicit and go beyond boosting the share price or fulfilling some bland mission statement. People want to believe that they are part of something meaningful. The sense of purpose doesn’t have to be grandiose or revolutionary, merely credible and anchored in values.

Purpose is achieved through goals, and the acid test for any leader is defining the appropriate ones. Too small, and celebrations soon ring hollow. Small goals breed cynicism. But too-big goals produce helplessness. Although it can be temporarily thrilling to rally around a big corporate slogan like “kill the competition,” the reality is that employees can’t do it alone and they can’t do it quickly.

Alignment between corporate goals and personal development has never been more critical. The more unpredictable the outside world, the more urgent the personal quest for self-determination. What employees look for in leadership is a sense that their personal journey and the company journey are part of the same story. When these goals aren’t aligned, employees tend to whine with others, eager to share their sense of anger and injustice, polluting morale. The only way to combat this and get back on track is proper feedback. Give employees the tools to influence their own fate.

Get a life. Keeping morale high is like being on a diet: It requires constant effort and is never over. New ideas, stimuli and motivation come from all around you. It’s the larger life, after all, that gives purpose to the climb.

Alan Deutschman – Senior Writer, Fast Company – writing about how IBM builds new businesses

Look for opportunities that can become profitable [billion-dollar] businesses in five to seven years. You’ll probably find them by talking to customers rather than to brilliant researchers in the labs, who are are looking further ahead.

J. Bruce Harreld – IBM

You want to celebrate failure because you learn something. You need some level of security to say ‘I screwed it up,’ and be comfortable that you won’t be fired.

Marcus Buckingham – Author, Break All The Rules

Turn anxiety into confidence. For a leader, the challenge is that in every society ever studied, the future is unstable, unknown, and therefore potentially dangerous. By far the most effective way to turn fear into confidence is to be clear – to define the future in such vivid terms that we can see where we are headed. Clarity is the antidote to anxiety, and therefore clarity is the preoccupation of the effective leader. If you do nothing else as a leader, be clear.

Effective leaders don’t have to be passionate, charming or brilliant. What they must be is clear – clarity is the essence of great leadership. Show us clearly who we should seek to serve, show us where our core strength lies, show us which score we should focus on and which actions we must take, and we will reward you by working our hearts out to make our better future come true.

See? Told you these folks know what they’re talking about.

Thanks to Fast Company‘s March 2005 issue for providing much of today’s content. (I have quite the collection.)

Cheers.

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I keep running into this every few months or so. It always makes me smile because it’s so true:

The master in the art of living makes little distinction
between his work and his play
his labor and his leisure
his mind and his body
his education and his recreation
his love and his religion
He hardly knows which is which…
He simply pursues his vision of excellence
in whatever he does
leaving others to decide whether he is working or playing
To him he is always doing both.

– Zen Buddhist Text

If you’re any good at what you do, and by good, I mean really good, work is play.

Always.

I’m sorry that BrandBuilder blog postings have been a little scarce lately. On the one hand, I have been traveling a lot. But there’s other reason: For the last few months, I have quietly been working on some pretty exciting projects with some of my favorite people on the planet, and I should finally be allowed to start talking about them very soon.

So patience, Grasshopper. We’re almost there.

I could be wrong, but my hunch is that you’re all going to like what I have in store for you guys in 2010 and beyond.

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nuclear-explosion

Let’s go over a few things:

1. Social Media is good for you, you know it, and you know why.

2. Social Media alone can’t save your business, but you know that your business can no longer be a market leader without an effective presence in Social Media.

3. Without resources to put behind a social media program or practice, you’re nowhere. It’s kind of like trying to drive  a car without gasoline. Sorry. It isn’t going to happen.

4. Without capital, you can’t put resources behind your Social Media program. So… you have to be able to justify that expenditure. That investment.

5. In order to be able to justify an investment in a Social Media program (from your boss, your client, your peers) you need to understand how to show the value of such a program to their organization.

6. Hits on your website, banner ad clickthroughs, impressions, KPI and whatever other types of measurement your marketing people love to throw at you are nice, they’re important, but they don’t justify a whole lot. They’re a lot like hugs: Everyone knows hugs are nice, but they don’t pay anyone’s salaries and bonuses. You have to take that game a little further.

7. The P&L is not an arcane accounting document. It is where business decisions are put to the test. Every business manager on the planet watches it daily. If you have never been responsible for one, at least get familiar with its mechanics and importance.

8. If you want to justify a budget, a program, a salary, a raise, a bonus, show your boss and your client how your idea will generate more revenue, more dividends or more cost savings. Or how it already has. That will ALWAYS get more priority than schemes to get attention or earn hugs. Money is not an abstract notion. You could get lucky and never be asked to tie your activities to financial impact, but that’s no excuse not to learn how to do it.

9. If you are not able to do this, if you cannot justify the value of a Social Media program, practice, presence or endeavor, the budget you needed to make it happen will go to something else. Like email blasts, efficiency consultants, or that new executive bathroom your boss has really been jonesing for.

10. If you cannot convince your boss or client to invest resources, time and faith in Social Media, they (and you) will get left behind by those of us who can and do. (And I assume you don’t want that.)

11. There are solid measurement and R.O.I. Best Practices and case studies being developed right now. They will pave the way for very, very VERY good things. If #10 (above) resonated with you, you probably want to learn from them so you can apply them to your business. Hence my proposal to SxSW ’10.

12. The nonsense and B.S. need to stop. They really do. For everyone’s sake.

You have a choice: You can continue to ignore the topic of Social Media measurement and R.O.I. Best Practices and pretend that talking about web conversions and the influencer index and brand lift will keep things going (which they won’t), or you can get serious about this stuff, learn how to do it right, and be a hero with every company you work for for the next ten years.

Your choice.

If you want to learn this stuff, if you want to bring this discussion to the table, please vote for my session at SxSW asap. The voting ends on Friday at midnight, so I really need you guys to act now.  Spread the word, show people my latest  R.O.I. presentation if you have to… whatever works. It’s up to you. Know that if the session doesn’t get enough votes and isn’t accepted, I am 100% fine with that… But it would be a shame: The sooner we put the R.O.I. “discussion” to rest, the sooner we establish these best practices once and for all, the sooner we can get back to doing more important work.

If you haven’t voted yet, click here now, and thanks in advance. Pass it on. 😉

(You guys rock, by the way!)

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monkey_on_bicycle_vintage

Via Amber Naslund (@ambercadabra) on Twitter yesterday – This (posted on mashable) is not the way to go about hiring an experienced Social Media Practitioner to get a practice up and running:

NEEDED IMMEDIATELY: INTELLIGENT SOCIAL MEDIA CONSULTANT:
Intelligent Social Media Consultant to support a consumer PR agency based in NYC. You will not be working in-house – so you must be willing to be on call for a flat, monthly retainer fee.

The most necessary requirement of this position – is an ability to create in-depth Social Media proposals with an eye towards driving a PR campaign, then helping those proposals to be executed – either through your own technical expertise, or by appropriately functioning as a Project Manager. Examples of your writing and previous proposals are required.

SKILL-REQUIREMENTS:
• Knowing your trade, if you’re not 100% up-to-date on the latest and greatest tools for social media (including Facebook corporate pages, Twitter, and Social Media News Releases, just to name a few examples), please do not apply.
• You need to understand the world of PR, and how it can translate to Social Media. We want you to know great examples of successful PR/social media campaigns, what a company’s competitors are doing, and how we can replicate that to create similar success stories.
• Must have: first-rate writing skills
• Must have: ability to consistently generate creative ideas for corporate clients and explain those ideas in-depth, in writing, and in a proposal
• Must be willing and able: to create multiple proposals in a week if necessary
• You must be willing to attend on-site corporate client meetings when necessary
• You must be detail oriented and quantitative (you will be called on to perform Social Media Audits, for example
• You must understand Social Media metrics – (we are always asked to show an ROI to clients, you need to not only have creative ideas but also have the skill to know how to measure the campaigns you help us to create)

Our PR campaigns draw on the full arsenal of Social Media tools, and for the purpose of the proposals you create for us and for the campaigns you oversee, you will need strong resources and up-to-the-minute industry knowledge to execute: Twitter feeds (and Corporate Twitter Feeds), Facebook (Corporate), Myspace (Corporate), Blogs/Vlogs, Optimized Press Releases, Social Media News Releases, Mobile Marketing Campaigns (not as frequent), Online Marketing/ Advertising, Online Newsrooms, Viral Videos, Photosharing, Podcasting & Webcasts, SEO, Microsites, Widgets & Wiki Updates

COMPENSATION:
Flat Fee of $1,000 per month, plus additional commissions on campaigns you help us to land, plus other work-load related bonuses

First of all, I would ask this PR agency what happens once these winning proposals have been written and approved by the client: Who executes on these programs and campaigns if not the Social Media honcho? If this is going to work, someone has to build and manage these programs, right? If not the Social Media “consultant” who wrote out the plan, whom? (Fail #1).

Fail #2: $1,000 per month? Are you kidding me? For all of that? (writing proposals, meeting with clients, Social Media audits, ROI measurement.) Yeah. Good luck with that. (It’s only NYC: I’m sure anyone can get by just fine on $12K per year – pre-tax.) Not that those skills are worth ten times that.

Question to the company responsible for this req: Where do I apply for the $800 per month CMO job please?

Man, it’s good to see smart companies still willing to pay big bucks for big talent. Way to go.

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Time for your weekly BrandBuilder reality check.

There are only two types of businesses: The ones you know are the best in their category, and… everyone else.

Advertising and marketing are nice, but too many “also in” businesses waste money on marketing and advertising when they should instead revamp one or two elements of their business that would help them actually gain market share. (The most pleasant and efficient customer service experience in your industry, a perfectly designed user interface, a 100% uptime guarantee, stunning design, impeccable ergonomics, remarkable flavor, etc.)

Advertising is basically a load of bulls**t unless you have something worth advertising to begin with. (Otherwise, what are you advertising: Hey, come buy from us! We’re the thirteenth best shoe store in the 29601!) You’re either the best at something, or you’re just another voice in the crowd getting fleeced by just another run-of-the-mill ad agency or “marketing firm.”

Before you start spending money on advertising, ask yourself what your super-special value to your users/customers/clients truly is. Maybe you have the best prices. Maybe you have the most comfortable meeting rooms. Maybe you have the most square footage of any gym in your area, or the freshest produce, or the most knowledgeable staff, or the fastest check-out. It doesn’t matter what that something is as long as it is something concrete (as opposed to another lame marketing spinfest). Is that one thing truly hitting the mark? Are you really delivering on it as well as you could? As well as you should?

Whatever your value differentiator is, whatever your brand’s value advantage is (or should be), this is what you need to invest in FIRST. Once you have that aspect of your business nailed down, THEN and only then should you even bother with advertising.

About a year ago, Seth Godin posted some great advice to college grads on his blog: Only borrow money to pay for things that increase in value. A pair of shoes or cool clothes never increase in value. An education or professional experience, however do. Great advice, especially in the crux of our current economic/credit crunch. The same applies to businesses, which is why Seth’s advice is so damn relevant to the discussion today.

Perhaps more relevant to today’s topic is a slightly tweaked version of Seth’s advice: “only invest in things that increase in value.”

Like shoes and clothes, advertising never increases in value. With advertising, you are at best buying a small percentage of the public’s attention across a very narrow sliver of space and time (and paying a premium price for it.) Before you know it, your advertising budget is gone, and so is that very expensive bubble of attention.

Investing in better products/services, better people and better processes, however, makes a whole lot more sense as these things never lose value. Great employees, great products, great customer experiences and fostering a unique relationship with your fan base are the types of things worth investing in. These are the true foundations of a great brand. These are the types of things that will help strengthen your brand equity.

Advertising rarely translates into brand equity unless these foundations exist to support it. Even so, the more solid the brand’s foundation, the less relevant advertising becomes.

Starbucks doesn’t advertise much and I’m not sure I’ve ever seen a Whole Foods ad anywhere, yet millions of people drop solid stacks of greenbacks there every year. I don’t shop at Target, wear Rudy Project sunglasses, drive a VW or crave a BMW because of advertising. Other than creating awareness for a product that hasn’t managed to capture anyone’s attention yet (red flag), advertising does little to impact most companies’ growth. Do they create spikes in interest, eyeballs and sales? Sure. When executed well. But growth? Over time? Nope. Growth is a completely different animal, and advertising alone, boys and girls, won’t get you there.

Building a strong reputation by developing great products, buzz-worthy experiences and generally delighting customers/users is a much stronger strategy than paying loads of cash for advertising.

Something to think about as you prioritize items on your budget for H2.

Have a great Wednesday, everyone. 🙂

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