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Posts Tagged ‘collaboration’

Jeff Bullas, a Top 50 Social Media Power Influencer on Forbes.com, recently wondered whether social media had reached a digital tipping point.  Jeff believes that social media, smartphones and search engine evolution are causing a paradigm shift in our digital landscape.  While Jeff’s prognostication might be true as far as smartphones and search engine evolution are concerned, I would posit that social media has some ways to go in this regard.

There is a simple reason that the recent Facebook IPO bombed–a billion, largely non-revenue generating subscribers do not make for a very attractive business model.  More importantly, most of the so-called successful social media companies such as Facebook, Groupon, Zynga, etc. have been operating pre-dominantly in the B2C (business-to-consumer) services domain.  The Internet consumer services segment is dominated by a largely young demographic, which has become used to a “free-is-good” culture.  Without advertising to generate revenues, most B2C social media services companies will find it hard to survive in the long term, which is barely a couple of years in Internet time.

Thus social media needs to make rapid inroads into the B2B (business-to-business) world, where businesses actually pay for services rendered.  In this regard, companies such as Salesforce.com have been pioneers in quickly integrating social media into the business environment, both B2B and B2C.  In fact, at last year’s Dreamforce 2011 conference, Salesforce.com CEO Marc Benioff, introduced the concept of the social enterprise.  In his keynote address, Marc very relevantly pondered, “Customers and employees are social.  Are enterprises social?”  He went on suggest that they were not social and wondered if there was a way to bridge this social divide between the enterprise and its employees and customers.

All that bridging Benioff’s social media divide required was the establishing of a value proposition that would be compelling to the enterprise. And, Mr. Benioff did so quite convincingly in his Dreamforce 2011 keynote.  He asserted that for an enterprise, delighting customers is knowing who they are and what they like–Facebook tells us what they like, Twitter tells us what they are saying and LinkedIn tells us who they are connected to?  So in order to become a “social enterprise,” a B2B needs to follow three steps–begin creating customer social profiles in its database, establish an employee social network and finally integrate these into customer and product social networks with the appropriate security and access provisions as required.

From a marketing standpoint, the social enterprise could become the Holy Grail for B2B marketers when it comes to sales enablement, demand generation and a truly integrated sales and marketing funnel– what revenue managers refer to as “one vision of the truth.”   With a customer relationship management (CRM)-integrated marketing automation platform, marketing to the social enterprise then becomes a collaborative, real-time exercise that ought to make it a delightful experience to customers, employees, partners, et al.

Finally, infrastructure is key for a social enterprise to function effectively in the world of social media. I have therefore previously proposed my own E=MC5 theory of connectivity, which states that a social Enterprise must provide Mobility, Cloud-based Communications, Cyber-security, Collaboration & Content.  Thus, for social media to make a successful foray into the B2B world, a business must necessarily meet this E=MC5 threshold and it does not have to be a business Einstein to make this connectivity happen!

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It’s a classical marketing conundrum when the logical, left-brained, structured, quantitative world of business intelligence (BI) clashes with the creative, right-brained, random, qualitative world of social media (SM).  Some BI purists believe that 80% of SM data is chaff and should not even make it inside the corporate firewall.  Most SM aficionados are adamant that a broader collaboration is the future of the social enterprise.

At the outset, it’s important to understand the difference between social media intelligence or social intelligence vs. social media integrated business intelligence.  Zach Hofer-Shall of Forrester Research defines social intelligence as

“the management and analysis of customer data from social sources, used to activate and recalibrate marketing or business programs.”

So it is apparent that to develop social intelligence, an enterprise needs to monitor social media in real time for mentions of or references to–not only its own, but also its competitors’–brands, products, services and assorted related topics. It must simultaneously collect this data and analyze it for both quantitative and qualitative insights so that it can make informed decisions relating to its marketing and business performance.

So what is the difference then from traditional BI? BI also incorporates computer-based systems and tools that allow a company to collect, store, extract, access and analyze business data to aid in decision-making.  However, BI activities such as data mining, online analytical processing, querying and reporting typically use corporate data not only on a much larger scale, but also more securely inside the firewall–social media data from the public internet has until recently been excluded from BI.

The great Yogi Berra once said, “You can see a lot by just looking.”  And, he was “clearly” right!  In today’s social media world you can learn a lot by just listening to all the various sources of chatter relating to your company.  You can then collate, categorize and analyze that data into valuable information that affects not only your marketing mix–product, pricing, placement, promotion; but also your competitors, customers, influencers, prospects, et al.  This is what standalone social analytics provides today via the practice of, what has come to be known in the business as, “social monitoring.”

But the real value add is in integrating this social intelligence into your company’s business intelligence–“Harry met Sally” is no longer sufficient–it is absolutely necessary for the enterprise to “connect the dots” and use its integrated intelligence in a more effective manner.  BI Harry and SM Sally must come together so corporate performance can be better managed in any number of ways, such as using:

  1. Sally’s sentiment analysis to validate variations in customer service traffic on Harry’s operations dashboard.
  2. Sally’s conversation volume analytics to track sales fluctuations on Harry’s sales dashboard.
  3. Sally’s applause rate (e.g. Facebook Likes) to quantify gains in brand equity on Harry’s marketing dashboard.
  4. Sally’s amplification rate (e.g. Twitter Retweets) to manage media expectations on Harry’s CXO dashboard.
  5. Sally’s engagement volume (e.g. blog comments) to justify product roadmaps on Harry’s engineering dashboard.

These are just a few examples of how social media data can enhance the quality of typical business intelligence used by the enterprise today.  Again, it seems like social media integrated BI will probably be first adopted largely by the B2C domain, where social media has had much more of a positive impact on the revenue cycle.  Nonetheless, it is only a matter of time before social media integrated BI will penetrate the B2B world as well.  Those that choose to lead in this regard will be what The Marketing Id has previously referred to as the social enterprise that conforms to our E=MC5 theory of connectivity.  This is simply because an E=MC5 enterprise already has the infrastructure in place to ensure that BI Harry meets SM Sally more than half way!

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When President Reagan passed away in 2004, it was pretty clear that he had earned a lot of bipartisan affection through the years.  It had me wondering back then, “What made this man tick?”  Upon further analysis, I had determined that we inherently use six counts to get a measure of our President.  These six qualities, which I metaphorically referred to as the “six C’s of separation,” are: Character, Charisma, Confidence, Chemistry, Communicability[1], and Camera-friendliness.  I had postulated back then that these “C” notes determined whether a President can make “music to our ears” and these “C” strokes determined whether a President can paint a compelling vision of the future for us to see.  President Reagan with his perennial vision of “a shining city on a hill” had clearly scored well on all six counts across a broad spectrum of the American public.

That was then and with an allusion to politics; this is now and with a renewed reference to the business world.  The Marketing Id has surmised that the fundamental concepts ingrained in the original six-count calculus holds true in the business domain as well.  While a social enterprise might be setup in compliance with The Marketing Id’s E=MC5 theory of connectivity so that it can support Mobility, Cloud-based Communications, Cyber-security, Collaboration & Content; it nevertheless requires to be led by a CEO, who closely conforms to the six C’s of separation so that the company can be a standout success.  This qualitative differentiation assumes of course that, all things being equal, most successful CEOs perform at the top of their game when the typical quantitative factors relating to their respective companies, industries and overall market conditions are assessed.

So having made that distinction, let’s consider each of these six C’s of separation within the context of the business world.  In the corporate domain, the Character trait does not necessarily imply a moral character as much as it does the need for strong business ethics, which have become an absolute requirement in the wake of the corporate scandals of the last decade and the financial shenanigans that have plagued Wall Street in the past few years. An ethically-challenged person is not going to be a successful CEO and could, in fact, terminally harm the company or damage its reputation for an extended period of time.  The Marketing Id would like to believe that character counts more in business than it does in politics.

In a 2006 research study conducted jointly by the University of Pittsburgh and Yale University, “Does CEO charisma matter?” its authors concluded that from an objective point of view (i.e., a company’s financial performance) Charisma was not a mitigating factor when it came to CEO performance.  Nonetheless, they observed:

“Our evidence suggests that CEOs who are perceived to be more charismatic appear to be perceived as more effective. In this subjective sense, CEOs matter. However, the lack of corroborating evidence from objectively-assessed CEO performance suggests that the search for charismatic CEOs may be based more on implicit theory or halo effects than on solid evidence that charisma really does make CEOs more effective.”

From a marketing standpoint, however, perception is reality and charismatic CEOs who perform well are regarded as far more successful than their equally well-performing but non-charismatic counterparts.  The Marketing Id’s recent tribute to Steve Jobs – one of the most charismatic CEOs since the dawn of the information age – is a case in point.

Confidence is such an obviously desirable trait in most executives in the business realm that The Marketing Id simply references the famous 1984 deodorant commercial tagline, “Never let them see you sweat,” as the guiding mantra for any person who wears the CEO mantle.  This is not to suggest that the lack of visible perspiration is a standard for confidence, but CEOs need to project that image of cool without being cocky, especially in public settings.  The Marketing Id had recently blogged about The Social Enterprise and made reference to Marc Benioff (CEO of Salesforce.com) – here is a CEO who exuded so much confidence that it was palpable to the audience during his opening keynote address at the recent Dreamforce 2011 conference.  Confidence is a CEO quality that permeates through to customers, employees, investors, partners, shareholders, vendors, et al.  A confident CEO can make a company appear far more appealing than it might actually be.

Chemistry is something that is desired in and key to the success of every one-on-one relationship.  Not surprisingly, it is an equally important element in a one-to-many relationship, and chemistry makes those thrive as well.  In politics if a leader has chemistry, people are usually more forgiving of the leader’s other shortcomings.  The Marketing Id would argue that President Clinton’s post-impeachment rehabilitation had as much to do with his personal chemistry as it had to do with his obvious charisma.  In the business world, there are many successful CEOs who have charisma, but not many of them possess a commensurate chemistry.  For CEOs, chemistry is key in the boardroom, a “must have” with each member of the executive management team, and a tremendous value-add if CEO chemistry can filter down into the employee ranks.  While a CEO doesn’t need to be universally liked, chemistry will go a long way in keeping the “extended family” happy – which, in turn, ensures widespread commitment to the company’s long term success.  As an example, The Marketing Id would posit that it is hard to find an unhappy employee at a Starbucks.  Howard Schultz, CEO of Starbucks, probably has great chemistry or great karma or possibly both, because Starbucks has been a wonderful American success story for well over a decade now.

Communicability, as the word has been used here, is not the way the word is traditionally used in the lexicon.  The Marketing Id has used it as a combination of two simple words that indicate an ability to communicate.  As in politics, so too in the business world, public relations and marketing communications professionals can string the right words together into the right message to the right audience at the right time and tailored for the right medium!  It cannot get more right than that; however, they still need to be delivered by the CEO.  Herein lies the rub, some CEOs just lack the necessary skills to communicate in a compelling manner.  Again, The Marketing Id’s favorite CEO for communicability was Steve Jobs – he always made his audience hang on to the end of every presentation for that “one more thing.”

The final C that separates a CEO from his peers is one that is difficult for most CEOs to master – Camera-friendliness.  A CEO may love the camera but the camera might not reciprocate that feeling.  In the rare instances that there is a positive two-way interaction, the sparks can fly.  The key is not how good a CEO looks on camera but how well a CEO emotes in front of it – it’s all about how genuine the person is and how real the passion comes across to the intended viewers.  Camera-friendliness is a literal case of the medium is the message.  Many of the previously mentioned CEOs have been pretty remarkable in front of the camera and consequently a tremendous asset to their respective companies.

The Marketing Id would like to conclude this dissertation by pointing out that President Reagan was known as “The Great Communicator.”  What made him earn that title was he possessed every one of the six C’s in good measure.  CEOs can emulate his performance in the business world by similarly honing their skills on those critical six C’s of separation! Happy Holidays, folks!


[1] Ability to communicate

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The Marketing Id has been promoting its E=MC4 theory of connectivity for some time now, where an Enterprise with Mobility, Cloud-based Communications, Collaboration & Content is setup to succeed in its business and marketing plans.

However, this connectivity always assumed that Cyber-security was implicit in a Cloud-based infrastructure.  On the other hand, The Marketing Id recognizes that:

  • A hacker is born every minute
  • There are committed groups of basement-dwellers dedicated to “seeding the cloud” as it were, and
  • They are intent on raining on the business world’s parade

So The Marketing Id is compelled to recognize Cyber-security as a distinct and imperative need in its theory of connectivity, even as an industry-wide standard for it evolves for cloud-based computing.  The Marketing Id is thus pleased to present its new and improved E=MC5 theory of connectivity:

A social Enterprise that provides Mobility, Cloud-based Communications, Cyber-security, Collaboration & Content.

The Marketing Id hopes that E=MC5 becomes the six-sigma standard of connectivity in the new world of business networks and social media.

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The World's Best Marketer

We the beneficiaries of over three decades of technological innovation from that incredible marketing machine, known as Steve Jobs, are quite saddened by his decision to step down as the CEO of Apple.  It seems like he was forced to live up to the lines from a 1973 Badfinger song “Apple Of My Eye”:

You’re the apple of my heart
But now, the time has come to part

It was only a few blogs ago The Marketing Id wrote about “the revolution in mobile broadband communications brought about by the iPhone, iPad and video streaming…”  Well, to the millions and millions of happy Apple aficionados worldwide, Steve Jobs has been consistently at the forefront of what is turning out to be a rather ubiquitous cloud-based, communications and collaboration phenomenon.

So it might be worthwhile trying to figure out just why Steve Jobs has been so successful in this new converged paradigm of computers, communications and collaboration that makes available any type of content to anyone, anywhere, anytime on any device.  The uncharitable might say his success was, in large part, due to another C – control, which he undoubtedly cherished.  But control is ineffective, if you cannot command respect, which he definitely earned from customers, competitors, employees, partners, vendors, stockholders, investors and what have you.

Aside from this dominant personality trait, recent developments in the afore-mentioned converged space have convinced The Marketing Id that Steve Jobs has always been ahead of the “marketing and innovation” curve–Peter Drucker’s famous “two-and only two-basic functions of the business enterprise.”  Only in the past couple of weeks we learned about Google’s $12.5 billion offer to buy Motorola Mobility and HP’s $10.3 billion offer to buy Autonomy.  When one looks beyond the hefty price tags, it is simply one of the world’s leading software companies buying a hardware company and one of the world’s leading hardware companies buying a software company.  As a consequence of these actions, The Marketing Id had tweeted the following on August 15th:

“When Harry (hardware co.) met Sally (software co.) combos will energize the #Cloud/SaaS/Mobility/Communications/Collaboration paradigm.”

But, guess what?  Steve Jobs’ Apple had Harry and Sally as fraternal twins from the day the company started in his garage in 1976!  Yes, Steve Jobs wanted to control, both the hardware and software aspects of his product from day one.  Ask any Apple user about why they love their Macs, iPods, iPhones and iPads – it’s that one stop shop of integrated quality and satisfaction that just can’t be beat!  Steve Jobs was championing convergence long before it became cool!

After Steve Jobs announced that he had resigned as CEO, The Marketing Id tweeted:

“Steve Jobs, the world’s best marketer, took his last bite as CEO of that iconic ‘American pie’–it sure feels like the day the music died!”

The Marketing Id would encourage readers, who can spare 15 minutes, to check out Steve’s inspiring commencement speech at Stanford University in 2005 – http://www.youtube.com/watch?v=UF8uR6Z6KLc – it tells you a lot about what made Steve tick?

Finally, the magnificent overall imprint that Steve Jobs leaves behind reminded The Marketing Id of more apt lyrics from Stevie Wonder’s immortal song “You Are The Sunshine Of My Life” also from 1973.  An older, wiser and more compassionate Steve Jobs might just be signing its words as he exits the “One Infinite Loop” of his beloved Apple campus:

You are the apple of my eye
Forever you’ll stay in my heart

As will you, in ours, Steve – for you have given all of us a wonderful ride just by thinking different.  More importantly, you brought product and marketing together like nobody else has and for that you will be sorely missed!

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