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5 signs your team might be struggling to hit the sweet spot with B2B digital marketing?

27/8/2015

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When my kids discover a new sport they’re into it! They’re going to be the next Serena Williams, Lionel Messi, Dan Carter, Lisa Carrington, Brendan McCullum, and good on them. They’re living (or maybe dreaming) the dream. Then a couple of things happen, and let’s run with tennis as the example.

First the ‘gear’ requests come in, and they inevitably want the very best tennis racket. It’s top of the range in both performance and price. Sometimes you’ll get a great shop assistant who points out that the racket that Serena Williams uses is very specialised. It has a tiny sweet spot which works for her because she’s practiced everyday of her life since she was 4 years old and hits that sweet spot 95% of the time when at full stretch. But it's absolutely shocking for a beginner. In fact, it can do you more long term harm (tennis elbow) than good. If you do get the right advice from the specialist shop, you get a racket that’s suitable for the beginner.

Second thing that happens, after the initial enthusiasm, is they realise the sport is quite tough. You make the occasional amazing shot (worthy of a professional) but a lot of shots never make it over the net or inside the tram lines. You start serving, and that’s an art form in itself. They may not realise it themselves yet but now the practice stage starts, and they may go backwards before they go forwards.

This is a key moment. Some kids can’t handle not being the best from day one and move straight onto the next sport or activity. Many will practice with their friends, improve and play a good social game. Others will practice, supplement that with some coaching from a tennis pro and over time they’ll become a good tennis player. Some may even go on to represent their club. Practice, practice, practice.

Then there are the few, those who have found their passion who dedicate themselves to their tennis obsession, work hard every day, seek the wisdom of coaches, have a very strong game plan, set goals for each game, season (and off season). They become really good players, may represent their region or even country at age group level, turn professional and maybe one day become that Wimbledon champion like Serena.

Do you see where I’m heading with this? You can sub out tennis for digital here, and our budding tennis player with sales and marketing teams starting to get their heads around digital.

Here are some warning signs to look out for:

  1. Is your team all about the gear? If they’re relatively new to digital and asking for a significant investment in gear (Marketing Automation, Website, CRM, BI Portal), resource (headcount), new Channels or money for expensive campaign development? All this without proving the performance of their proposed approach on a small scale (see points 4 & 5 below)? Chances are you’ll be investing in Serena Williams tennis racket, with a team who are just starting to learn the game. Most high performance enterprise solutions have a free, almost free or look-a-like that’s carries a small subscription charge so you can try it out before you make a major investment in ‘the gear’.

  2. Are they clear who they’re playing? Are they chasing 'awareness' without a target audience?You need to know who’s sitting across the net from you. If you don’t then chances are you’re either hitting the ball against a brick wall back to yourself, or you’re serving to nobody, both of which mean you’ll be wasting time and money for little benefit. If your team is focusing on an audience of ‘everyone’ or a general awareness without a clear next action, then chances are they’re talking to no one.

    Here’s a great example of knowing who you’re playing, US developers Braintree identified Ruby developers were the most socially connected of all development groups (according to University research papers they searched). Four or five of the individuals within the Ruby community in particular were uber connected. By focusing in on the four or five they were able to engage them, and then tap into their networks to first break into the rugby community and then the wider development community.

  3. Do your team have a clear game plan? To win you’ve got to go into a game knowing your strengths, your weaknesses, and your opponents’ strengths and weaknesses. With a plan of how they’re going to counter those strengths and weaknesses. So if your opponent has an amazing forehand you’d be crazy to keep playing to their forehand. Same with digital, you need a game plan.

    We use the customer journey or sales funnel (see image below) to shape our digital game, measuring the numbers at each stage and conversion (see point 5). Being clear at each stage of the customer journey what the customer needs, the next step i.e. the next action you want them to take and your conversion performance.

  4. Are your team practicing to improve their game? Do they have a test and learn programme in play so they’re learning what works? A 1% improvement every day means you’re twice as good as you were 70 days later. You’ll be able to throw away the ineffective, and doubling-down and scale up the effective. Just like the professional or even semi professional tennis player you need to be constantly testing your abilities, practicing and improving your game.

  5. Do they know the score? Are you serving for the set, tied at deuce or scrapping it out facing two break points? It’s important to know how you’re performing. Digital, like tennis is a measurable game. Make sure you and your team are clear on the KPIs along the customer journey or sales funnel, measure them and like a game, challenge your team to beat them every day.

So should you and your team be bringing their 'A' game to B2B digital marketing? The stats suggest there's opportunity for those who do. 94% of B2B buyers researching online before purchasing (2014 study by the Aquity Group) but only 37% of B2B buyers thought suppliers websites delivered the information they wanted. So there's massive opportunity even if you only deliver the basics like the right website content for your prospective buyers. Imagine if you brought an integrated digital 'A' game? You'd be winning 6:0 6:0.
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Assessment: Does Your Team Think Digitally?

I thought this assessment from Harvard Business Review would make a good edition to this post:
http://hbr.org/2015/10/assessment-does-your-team-think-digitally

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Technology is reshaping our world. Can kiwi businesses ignore technology and maintain their highly valued 'kiwi LIFESTYLE'?

7/6/2015

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A few insights about the business world today:
Uber is the world’s largest taxi company but owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba the world’s most valuable retailer but holds no stock. And Airbnb is the world’s largest accommodation provider but owns no real estate. www.techcrunch.com, 3 March 2015
And we've got our own Kiwi challenger brands like MyFoodBag changing the way you shop (or rather don't shop) for groceries and Xero simplifying your business accounts and changing your relationship with your Accountant, Bank and Accounts person. But from the looks of the Westpac 2015 Growth Report not all Kiwi businesses are embracing the opportunities (and threats) that new technology  brings. 

A few WORRYING facts about business in New Zealand: one-third of SMEs questioned in the Westpac 2015 Growth Report think that technology has had no impact on their business over the last 5 years, and almost the same again expect it to have no impact over the next 5 years. (Interestingly 38% were unsure what's needed or how to obtain the right staff or training to use digital technologies, which might explain this attitude). Also, while growth is up, there’s also a reluctance to grow further due to “lifestyle goals”, with 31% citing maintaining work/life balance as their reason maintain the status quo.


Should New Zealand SMEs be worried? Take a look at what’s coming down the line.


US companies following in Uber’s slipstream.

Entrepreneurs globally are taking a fresh look at every sector with the inspiration of Uber behind them and new technology at their fingertips. And just as we've already seen with Uber in the taxi space, Alibaba in retail, Airbnb in accommodation - change is coming to each and every business sector faster than our companies think. Don't believe me? Check out 5 example companies coming out of the United States today:
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Cargomatic

Founded in 2014 Cargomatic is the Uber of freight and shipping. Cargomatic brings shippers together with truckers in an on-demand model that provides real-time connections, transparency, ratings and competitive pricing. It's a win for truckers who don't like driving half empty trucks so there's a chance for them to make some extra money. And it's a win for local companies who minute need goods shipped last minute at highly competitive rates.

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BloomNation

Founded in 2011 BloomNation raised $5.6M funding to develop their software as a service (SaaS) market place for florists and as of October 2014 it was growing 15-30% month-on-month. They’re taking on the Interfloras but also championing the consumer by making it cheaper for them to purchase. Next up they’re taking on the Events and Wedding sectors.

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GoodRx

‘Save up to 80% on your prescription drug costs!’ is the catch cry of GoodRx. It’s a prescription drug comparison tool, championing the consumer with cheaper prices, and delivery to your door convenience. They’re currently shaking up the Pharmacy sector in the USA.

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Washio

The on demand laundry service brings a new level of convenience for customers who can schedule pickup and drop off of their laundry and dry cleaning via the mobile app. Launching originally in LA, it’s already expanded to Chicago, San Fran and Washington DC.

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Bento, GrubHub, Munchery

These are just a few of the companies shaking up the food, hotel and restaurant industry in the States. Providing catering on demand, new distribution channels, fast food and even meal replacements. Uber has also seen the synergies with its service and recently launched prototype UberEATS in Barcelona.

“The future of restaurants is no restaurants” Jason Calacanis, investor in Bento
Jason Calacanis may sound a little dramatic, but what are the real implications for Kiwi businesses? Mobile phones are driving consumer behaviour. Making it easier than ever to discover, learn, do or buy something. See my previous blog post for more on that. But consumers, with their mobile phones, are way ahead of Businesses and Government, and we’re now playing catch up. So there's an opportunity for companies who catch up and connect, and a threat to those companies who don't.

Even if you are a bit behind the times, it’s not too late to change. It's now cheaper, faster and easier than ever to bring digital into your business. The fundamentals haven't changed, it’s still about customer experience, awareness, consideration and purchase. The difference is the customer experience now takes place across digital and non-digital channels. Your business needs to map that customer journey (more on that in my next blog post), and build an integrated consumer experience across the relevant digital and non-digital channels before someone else does and steals them away.
 

Stay relevant. Stay alive.

To put it bluntly, being seen as dinosaur by consumers = extinction = no more work/life balance. Starting your digital transformation doesn't need to be a huge leap of faith or investment, in fact the exact opposite would be my advice. Start small and build, as going too big, too fast can have a negative impact on your business. So here are some small practical steps to start your digital journey:

  •  A good place to start is Digital Journey (supported by MBIE and Google) they offer a good digital assessment tool so you can benchmark your business vs your peers. They'll then recommend online training and resources to match your level. I'd like to know how you get on with this resource so please email me any feedback. 

  • Look for digital short courses for you and your team at Regional Business Partners, local Incubators, industry bodies or education institutions.

  • Start reading online articles and resources. Here are a few suggestions: Google Digital Academy, Hubspot, Fast Company - Tech, Forbes - Tech, The Verge - Tech and Digital Journey.
  • While you're starting to build up the digital skills in your organisation, you will need to consider working in partnership with an agency. But it's worth taking a few steps yourself first so you have at least a basic understanding of digital and where you want to head. Be careful not to jump straight to tools like social media, website and email marketing – no matter how tempting that may be. Start with your customer; take time to understand them and map their journey on and offline.

But whatever you do, please start your digital journey NOW. Then you can keep enjoying that Kiwi lifestyle for years to come.

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A Simple Idea for Helping You Designing Integrated Customer Experiences Courtesy of Airbnb CEO Brian Chesky

2/6/2015

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"For us, it's a dance between online and offline. And this has been our biggest challenge. We saw it playing in the storyboard. We realised the key is mobile... Mobile is the link between on and offline." Airbnb
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With so many of us wrestling with how to design integrated real world and digital experiences for our customers. I thought Airbnb's CEO Brian Chesky's use of storyboarding, inspired by Walt Disney, was a beautifully simple way for companies to start bringing those experiences together. And in this particular example you can see how the process helped Airbnb really add value to both renters and hosts.

Definitely one worth capturing on the blog.

Click to read the full article on Fast Company
The moments where we're doing well. And the moments when we're not doing so well.

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Insights from Google and Coca-Cola on how to Focus on the present and look to the future.

11/5/2015

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How do you balance delivering this year’s results with innovating for future success? That was the challenge facing 400 delegates from top New Zealand companies as well as world-leading international/New Zealand speakers. The question was explored over two days at the Better by Design CEO Summit. I’ve condensed the discussions into the key themes that resonated with me.


The Venture Capitalist approach

The mindset of placing small bets, testing, learning quickly, then either scaling-up, pivoting or killing came through strongly. With this in mind, entrepreneurial thinking, skills and attitude within larger organisations is seen as crucial. For example, Les Mills find it tough to recruit the entrepreneurial mindset but reap the benefits when they do. David Butler Vice President, Innovation and Entrepreneurship for the Coca-Cola Company took everyone through an alternate route.

David shared insights from Coca-Cola about how large companies can design for scale – they not only need to simplify, standardise and integrate but also stay agile and attuned to market changes.  


Fixed vs flexible

David gave an example of a strategy, using Lego as a case study. The idea of modular, connecting pieces stays fixed, but themes like Harry Potter and Minecraft come and go with fashion. Because of the fixed elements, traditional Lego can easily work alongside themed sets. Coke's spin on this: be really clear what's fixed, consistent and unchanged across your business Vs what's flexible and changeable.


Entrepreneurs within Us

Coke have also started partnering with start-ups to solve shark bite problems (BIG painful problems vs small, gnat bites). They've set up a parallel but separate division allowing the entrepreneurial ecosystem to co-exist without compromising their core operations. This is another example of the “fixed Vs flexible” approach in action. Using tried and tested entrepreneurs, lean start-up principles and convertible loans, they look to provide an entrepreneur-friendly environment. To avoid friction between the two very different environments, there's clear visibility of projects, budget and activity across the wider organisation.


Connect in the moment

Google took things down to the micro level with Lisa Gevelber, VP-Marketing from Google introducing us to the importance of ‘micro-moments’, defined (by Google) as:

"Micro-Moments: Moments when we act on a need - to discover something, learn something, do something or buy something. Instant rich moments when decisions are being made and preferences being shaped."

Lisa talked about a person who broke a coffee plunger whilst washing up, Siri searched a replacement via their mobile and the consumer bought it with one click from Amazon. Smash to purchase in less than 10mins. And for the immediacy they were happy to pay a little price premium.

What does that mean for businesses? Moments really do matter individually and collectively. You can map those moments (or consumer experiences – BBD design coaches can really help here) and then design your digital touch points and content to match the moment. Done in a highly contextual way, you'll have lots of micro moments in which you can connect your product or service with potential customers. If you don't do it you're potentially leaving the door open to competitors who maybe more accessible in the moment.


In summary

The three key take-outs from the CEO Summit to help businesses scale whilst staying agile to market and consumer flux, were for me:

1.       VC/entrepreneurial attitude

2.       Fixed and flexible components

3.       Micro-moments

My advice is to pick the first of these three approaches and give it a test drive. Good luck!

 






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    Tim Parkman - Digital Director, Strategist, Project Lead, Trusted Advisor & Coach

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