Hmmm…. your customers are creating the market place now not you. Give us choice and we will take it! Look at us has been replaced with look at what we are doing. The big question; is your marketing designed for a static world or an ever changing one?

Markets will always outperform individual businesses, they also learn a lot faster and are better connected than  business too. If you’re marketing ain’t broken, its about time you asked yourself why? As Jeff Jarvis said “The mass market is dead. It committed suicide. Google just handed it the gun.”

Most companies, for the last 10 years, have taken the easy way out to market their brands, they have essentially bought customers. Sadly, its cost more and more and had less and less impact. In the past it was about driving traffic to your business, now its about loyalty.

Remember this equation; Feeling valued = loyalty + commitment

Most of us are still acting as if what we do is scarce. Shouting isn’t going to get you heard above the crowd, not when everyone else if shouting too. Now really is the time to tear up the marketing you have been doing in the past. Measure its return on investment and, then when you’ve picked yourself up off the floor, go and find some other way of connecting with your customers.

I’m cheating today, but hey if someone posts something concise and great, why not share it, it’s what blogging is about! Fabulous post by Seth Godin, got me thinking anyway.

http://sethgodin.typepad.com/seths_blog/2010/01/in-between-frames.html

You can’t avoid it. You can’t sweep it under the rug and you certainly can’t run like hell. We know the online world is starting to overpower the offline world. We can now start to show case studies of how big corporates are radically overhauling their marketing budgets towards social media activity.

People are talking about it, having conversations about it, delivering seminars about it, meeting about it, discussing it and, of course, doing it! You can’t stop what’s happening but you must understand this social media explosive wave of communicating with customers and spreading ideas. The implications are both fascinating and daunting.

It’s evolving rapidly and is causing huge problems for companies large and small. Marketing campaigns you’ve used over the last 3 years have become irrelevant. Before you think I’m thrusting Facebook down your neck and recommending you immediately create fans stop! It’s too late now just to test it out, you’ll fail. You can’t do what I did 18 months ago and plunge into it with no armbands just to see what it was like and whether it was for me. I did! I love it and hate it at the same time. But, life has moved on, its too serious for you to see it as a side issue.

I know how people are feeling, particularly those who haven’t done anything on the social media front yet and those who are wanting to rack things up this year. It presents a paradox; exciting and overwhelming! The key thing to think about is that actually the technology doesn’t really matter….it can almost do anything! What we all need to focus on, no matter what stage we are at, is how social media can help you  to develop relationships with people.

Charlene Li and Josh Bernoff in their book ‘Groundswell’ quote “people use technologies to get the things they need from each other, rather than from traditional institutions like corporations.” I  would add that this is not a trend that is about to go away, in fact, its likely to blow your business model apart over the next few years. As I mentioned earlier, its not something you can dabble in anymore, you need understanding, structure and strategy.

With hindsight, I’d consider following these four steps before embarking on a marketing approach that is not a spectator sport:

1. Read, read and read. Follow people who know what it’s all about and understand why its happening.

2. Understand what it is! It’s not just Facebook and Twitter. Consider some case studies.

3. Think about how you can use it to develop relationships with your customers, suppliers, people and community. It’s about allowing participation and having a conversation.

4. Then, with help, build a strategy that can be implemented. A focused approach that doesn’t expect miracles overnight but that gradually and solidly sustains your marketing over the long term.

Hope that helps!

There isn’t enough scarcity! There are hundreds of design agencies in each city, thousands of law firms, trainers, consultants, cafes, bed & breakfasts, widget makers and art galleries. Not to mention the thousands of photographers graduating from UK universities this year.

They are all ‘me too’ products and everything looks the same. A walk down any high street can be soul destroying. One store after another selling the same stuff, for the same price, offering the same deals with the same mediocre service. There is nothing scare in the high street anymore, just an abundance of sameness. And, again, it’s the same in most industries.

Things that were scare in the past are not anymore; products, food, technology, advice and much more. They have become easy to find and easy to purchase. Scarcity has shifted from the physical. When you sell something in abundance, you know it doesn’t take much for someone else to move in on your territory, sell what you sell for half the price, leaving you scratching your head, wondering where your business model went wrong. Wetherspoons is a great case study here.

Scarcity seems to be directly linked to value and desire. You ban a book, people flock to buy it. Wii have used scarcity tactics for their product but that’s not what I mean, that’s just simple old marketing tactics. True scarcity is trust, sincerity, authenticity, true innovation, long term relationships and collaboration, not Apple marketing ‘limited supply’ of the latest generation of iPhones!

Perhaps marketing is to blame. It was the ‘get out clause.’ Crap, ‘me too’ products were okay because huge investment in mass marketing managed to shift them. At the same time it possibly stifled innovation. The biggest US pharmaceutical company has $200 billion in sales, yet they only spend 14% on R&D and 31% on marketing and administration. At the same time new drug registrations have reduced from fifty a year in the 1990’s to about 20 today!

So whilst we have been concentrating on marketing that led to abundance, we forgot about innovation that created scarcity. Frankly speaking, unless you find something scarce in your business, the next couple of years are going to be very difficult. Business cannot sustain itself on an abundant business model where everyone is fighting for their part of the pond. Unless, of course, you have an abundance of cash to see you through until you find something scarce.

As employees (I can almost remember being one) we were focused on the elements of our job that involved the least risk taking. Not many of us are prepared to stick our heads above the parapet. As managers, we emphasise compliance, create procedures to try and control people. Invent organisational charts that not only mean sod all, but tell people who they are supposed to talk to. We pinch our peoples ideas, we reinforce the silos we have evolved even in small businesses and try and measure performance based on a system that focuses on extrinsic motivation rather than intrinsic motivation.

Then we complain like mad because our staff are not showing initiative, we have to make all the decisions for fear of mistakes. Teams don’t integrate, people only perform what is required and we’ve systemised, de sensitized employees so they don’t feel anymore. We couldn’t have frustrated them more if we had tried by honing in on the wrong things.

Concentrate on letting your people express themselves fully, allow them the freedom to take risk and make mistakes. Build cross functional teams to solve problems and remove silos. Facilitate rather than control. Measure the things that really matter to that person like being valued, working on meaningful projects and making a big bloomin’ difference to their work, their customers or colleagues. You can’t control the best people only influence their ability to develop some of your most important initiatives.

Over the Xmas period I’m writing an eBook considering how business is changing including the fundamental shifts we are experiencing and, also the key things we possibly need to get back to. It will cover between 50 and 100 words all supplied by my colleagues, clients, followers, connections and fans. Although, I may throw a few into the mix.

I’m hoping to provide an overview of some critical factors that will influence the future of work and business. Some of you have been kind enough already to provide some interesting topics such as; value, adaption, substance, competition, talent, time and feel.

It would be great if you could join in! I’ll reference you in the book and provide a hyperlink to your website or blog. Hopefully, I can provide some thought provoking ideas and thoughts with a bit of humility too. Can’t wait for the conversation to start once it’s published in February/March 2010.

If you want to contribute a word or two, please just make a comment on this blog, direct message me on www.twitter.com/annholman or, email me at ann@annholman.co.uk

Thanks!

The walls built up over so many years between customers, employees, management and shareholders are collapsing. This dictates a new type of relationship and commands a new approach. Openness, honesty, transparency, sharing and collaboration that result in mutual benefits and value will drive business performance and, more importantly, business sustainability.

It’s time to throw away the job descriptions, brush aside ego’s, change the emphasis to people, realise your product is as good, or, crap as your competitors and be aware that not one person has the power/decision making role anymore. Leadership too is fundamentally changing.

The impacts of these changes are creating new vulnerabilities and ’sore thumb’ opportunities for businesses. It will mean friction and tension. Fabulous, however, usually great ideas and innovations come out of that!

Business in the past was valued on it’s financial performance, it still is. Increasingly, it will also be based on influence, followers and fans. If we own something we try to protect it. In fact, we can become over protective. For years we have been conditioned to think that we own stuff at work; our team, our customers, our products. Tesco thinks it owns it’s suppliers!

This over exuberance can be detrimental, if not a tad delusional. We can spend lots of money defending something that we actually don’t own. The future, we know, will be based on the value of our relationships with our fellow humans. You can only part own a relationship. You will only part own a product as we collaborate more, you have never owned your people, especially in a war for talent. And customers just ain’t buying that ‘priviledge’ thing anymore.

You don’t own the buildings you work in, you probably don’t own that car you drive and your company probably only lease that computer and mobile you use. We need to shift our mentality from one of ownership to partnership. That way we can work positively on the things that really are meaningful and rationally focus our efforts.

It’s an interesting question. If social media is to, actually it has, taken over and because of the demands of the new marketing approach that’s emerging, why do we need a marketing department at all? In his blog post http://thebrandbuilder.wordpress.com/2009/10/29/becoming-p2p-principal-characteristics-of-the-new-social-business/ Olivier Blanchard sets out that a P2P business (people to people) doesn’t even need a Social Media Director citing that social media is completely embedded in the organisation. He has a point!

Social media removes the need for one department to be responsible for marketing. Indeed, perhaps if a company does have a marketing department, they are completely subverting what social media can do. Marketing, in the future, will be about valuable conversations, enlightening collaborations and strong connections, all wrapped snuggly in a ‘word of mouth’ blanket!

In fact here’s a suggestion, if we are moving from B2C/B2B to P2P, perhaps we need to merge human resource and marketing departments. They have a lot in common in the suggested P2P environment. Retention of staff/customers, loyal customers/staff, great conversations, cultural shifts in expectations and bevhaviour, the way we treat people, the relationships we have, brand equity and so on and so on.

It makes sense, there is so much synergy between the two disciplines now that it would be a shame to miss an opportunity to add value to the P2P relationships we have both internally and externally. By the way, Olivier’s post is well worth the read!

It’s easy to get trapped into doing everything. After initial start up, you’ll get dragged into all sorts, particularly if you can’t say no! Then it gets all messy and complicated, something us humans have turned into an art form. Cut to the chase, keep focused on building value and concentrate on these five aspects:

1. A proven track record. It builds reputation

2. Develop word of mouth mechanisms that reinforce your track record. Keep marketing costs low by adopting this strategy. Creates credibility.

3. Continuously grow your skill base, knowledge and understanding. Become an influencer in your area of expertise.

4. Let your character come through, it’s the only unique thing you have.

5. Identify what you are really good at and thrust yourself into that.

Refresh it, change it, reinvent it occasionally but never stop working on them.