You and your team should have some heated conversations around what customers want and what they want you to provide...
From PWC's Future of Consumer Experience
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Blah, Blah, ... then BLAH!
Note to CEOs: 3 levels of "talking" is required before a successful tech development (i.e mobile app, new product site, enterprise fix, etc) results in growth of your asset value and delivers net new revenue.
The 3 Blahs spell ACT ... because that's the message.
Blah #1 - A - Acknowledge
You have been observing the market shifts and talking with your team about your customers asking for more... and about competitors freaking you out... and about your options being expensive and endless.
Blah #2 - C - Commit
You have decided to invest RIGHT NOW in your future ... with a budget and a "safe container" to protect a dedicated team from the cynical "white blood cells" around your organization. You are encouraging and training these special people to develop clear goals and innovate with enthusiasm (while honoring those clear goals). They have been researching market opportunities, business models, creating mockups, and talking to customers (a lot).
Blah #3 - T - Test
Now it is time to take action and build stuff in the market for real customers (NOT just research modeling, focus groups and mockups). You are working with internal and/or external software specialists that love what you have been blah blahing about.
Learning is tough because innovation comes from iteration ... and that means building and launching through lots of wins AND losses along the always bumpy road to an optimized product that is never done but finally working, adding value, and generating the results you want... usually net new revenue.
READ: Our much more eloquent and thorough 4-page overview of the "Pitfalls on the Innovation Delivery Journey" at http://bit.ly/Pitfall_Innovation_Delivery_Journey
BONUS: from our partners at McKinsey:
https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-seven-decisions-that-matter-in-a-digital-transformation
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Trust... Earned
Thanks to Rupal's riffs in AdAge on 6 ways Ad Agencies earn respect by delivering results from ideas.
Key line:
"Execution turns out to be harder, more strategic and more valuable than everyone thought and ... it's what clients are coming to agencies for."
(FYI, what qualifies Rupal is her years as an industry journalist and then realizing the best way to provide value is to work directly with the digital developers)
It
all seem attainable as she nails the gauntlet of: providing safe havens
for creative problem-solving with a diverse and appreciated workforce
led by sincere leaders that get out of the way of empowered teams
focusing on their mutually beloved clients and their bottom lines. Well, that IS a lot...perhaps guarded optimism.
That key line above is about not spinning aimlessly around "innovation" when there are
products and services to be built! Yes, it sounds obvious ... that getting something out in the market into the hands of actual users is the only way to validate your assumptions .... and increase your chances of growing your
client's revenue and asset value. The "i" word only works when it is
applied beyond thinking, into and through production of something
real. ONLY THEN can it be assessed accurately by real users and optimized.
Because... Innovation = Iteration.
Because... Innovation = Iteration.
Let's all
focus on what we do best but remember to include those that deliver. When you are talking about digital transformation, that's the frontend
and backend engineers and coders.
Frankly, I am done with small
talk about big ideas. The last several years have been great to open our
mindset, setup our strategy processes, and delivery frameworks... Now, there are few good reasons not to take action.
Agency
examples of how to grow businesses in this digital age should already be inspiring. By partnering with tech augmentors like Creative Chaos, you can deliver like R\GA, Anomaly, and (insert favorite Agency
that helps clients grow their business here).
If you want to know what you need to know, read Jules' 2016 State of the Digital Nation. Then look deeper at the new opportunities in the market to be yourself and read his 2020 update.
If you want to know what you need to know, read Jules' 2016 State of the Digital Nation. Then look deeper at the new opportunities in the market to be yourself and read his 2020 update.
Again, support your trusted nerds ... include them early and throughout your process to develop a dynamic tech architecture that includes CI/CD microservice containers.
Since lots of us get lost in that last sentence, we are happy to discuss it.
Any time... David - dcutler@creativechaos.co or 617-331-7852
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Diversity Required Around Tech and Everything!
At 10:30 Eric builds momentum on this helpful and very human speech on how to REALLY build a team of innovative problem-solvers... and he says:
Google, Apple, Facebook. Sixty-five percent of their open job opportunities are non-technical: marketers, designers, project managers, program managers, product managers, lawyers, HR specialists, trainers, coaches, sellers, buyers, on and on. These are the jobs they're hiring for. And if there's one thing that our future workforce needs -- and I think we can all agree on this -- it's diversity. But that diversity shouldn't end with gender or race. We need a diversity of backgrounds and skills, with introverts and extroverts and leaders and followers. That is our future workforce. And the fact that the technology is getting easier and more accessible frees that workforce up to study whatever they damn well please!"
Google, Apple, Facebook. Sixty-five percent of their open job opportunities are non-technical: marketers, designers, project managers, program managers, product managers, lawyers, HR specialists, trainers, coaches, sellers, buyers, on and on. These are the jobs they're hiring for. And if there's one thing that our future workforce needs -- and I think we can all agree on this -- it's diversity. But that diversity shouldn't end with gender or race. We need a diversity of backgrounds and skills, with introverts and extroverts and leaders and followers. That is our future workforce. And the fact that the technology is getting easier and more accessible frees that workforce up to study whatever they damn well please!"
The Right Side of Amazon
Consumers root for Amazon because Jeff delivers - half of ALL online sales!
Yes he wants global domination, but we can all learn from how he stays ahead.
It's no secret. Amazon innovates new services and more efficient operations through persistent iterations to actually be customer service focused.
Step #1 - want this. Step #2 - build and re-build it. Step #3 - Repeat.
One of my favorite Bezos quotes is, "I regularly get asked about what is going to change in the future... nobody ever asks me what is NOT going to change... I would say human nature is not going to change." - being understood, appreciated, treated fairly... yeah, customer service.
R/GA, the impressively-ever-evolving Agency has a helpful take on how to compete with Amazon... Simply, (which it isn't) establish more direct relationships with your consumers. Know them better... know them different:
"What differentiates success from obsolescence these days is a company’s ability to relate to its customers and deliver one-of-kind, memorable experiences ... Customer relationship management is going to be really important now because it’s going to be about understanding who your real core customers are, making sure you have a real relationship with them and building on that core ... Having a strong point of view and understanding of the consumer."
See a short post on how our partners at McKinsey solve customer issues by adapting supply chains and leveraging ecosystems... “Digitization of supply chains accounts for more than 75% of the impact on incumbents’ profit growth” ... 75%...!
Bezos has his team. You have us.
We at Creative Chaos are here for you when you want to design, build, and update your digital presence for more efficient and effective customer service. Yes, we help you build websites and mobile apps... BUT ALSO what a CEO is focusing on... enterprise fixes, custom software between platforms, supply chain visibility and management, etc.
But, remember, you don't have to hire us... We are your flexible team when you need what Amazon is building. Click to enlarge this below CBInsights teardown infographic about who Amazon is hiring so they can stay ahead... grow AWS, not bother with Advertising (smallest sliver), and provide the provocatively-named, AI-as-a-Service...
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Open Innovation = Ideas + Consensus + Process
Here are a few excerpts from another helpful HBR article:
... the reasons more ideas from open innovation
aren’t being adopted are political and cultural, not technical. Multiple
gatekeepers, skepticism regarding anything “not invented here,” and turf wars
all hold back adoption.
in addition to having good ideas, those design
agencies whose concepts were successfully implemented had a more flexible
approach to all stages of the development process.
Successful designers took five strategic
actions to cultivate flexibility and trust. … not to drive efficiency but to
create consensus:
- Create a multi-layered network
- Foster equal ownership
- Establish interim milestones
- Build an open business case
- Prototype early
David Cutler is Managing Director at Creative Chaos. They provide tech team
augmentation and custom software development for funded Startups, Agencies,
strategy consultants, and corporate Innovation Labs, such as: McKinsey BionicSolutions and AB InBev's Zx-Ventures.
Digital Transformation Is Operation Optimization
Listen here as eMarketer interviews top marketers about the challenges of Digital Transformation.
This is my summary with my POV... well, at least what I am observing that works.
Key Take Aways: #1 - The most important opportunities are beyond marketing. #2 - Have trusted nerds on speed-dial.
Digital Transformation is your Digital Strategy for your Business Operations.
Most business leaders are in "shock and awe." Help them.
"Digital" is over... everything is Digital
Hard to keep up - new channels - IoT, Connected Home, Car, voice! Since it is a constantly evolving market ... ther should be less pressure to know everything
Embrace the iteration process. Get ANYTHING into the market to react to - test test test!
FIX YOU FIRST.
- Use tech to deliver visibility and truth.
THEN YOUR CUSTOMERS.
- Silos must intersect and flow around a consistent customer journey.
Hard to keep up - new channels - IoT, Connected Home, Car, voice! Since it is a constantly evolving market ... ther should be less pressure to know everything
Embrace the iteration process. Get ANYTHING into the market to react to - test test test!
FIX YOU FIRST.
- Use tech to deliver visibility and truth.
THEN YOUR CUSTOMERS.
- Silos must intersect and flow around a consistent customer journey.
OWN YOUR DATA
- Do not rely on Facebook for an assessment of YOUR customers.
GET HELP TO TEST, ITERATE, AND DIFFERENTIATE
- Get tech architects to connect the dots between platforms.
KNOW YOUR PEOPLE
- Opportunities are around them. Just make them more productive!
- Do not rely on Facebook for an assessment of YOUR customers.
GET HELP TO TEST, ITERATE, AND DIFFERENTIATE
- Get tech architects to connect the dots between platforms.
KNOW YOUR PEOPLE
- Opportunities are around them. Just make them more productive!
Have CTRL = Content, Timing, Relevance, Location
Get out there and FEEL real retail experiences.
Emotional connections are NEEDED in this digital world
- acknowledge our very human analog existence
Get out there and FEEL real retail experiences.
Emotional connections are NEEDED in this digital world
- acknowledge our very human analog existence
Accept that there is ROI from learning
Make it fun to find mistakes since they are the process
Embrace sharing and learning together between client, vendor, customer
Marketers must be:
- Data Scientists (know enough to see the truth)
- Social Butterflies (friend and critic of media platforms)
- Economists (choosing priorities ...that produce)
Set innovation funds to experiment (removed from brand P and L)
Support successes (Remember cross-corp knowledge sharing)
Again, Summary: Have trusted nerds on speed-dial
Our Only Hope ... Is TechDev!
The "inside" Digitization needs of our corporate clients are not changing... they have been trying to evolve their Digital operations for decades.
The problem is that this transition to digital efficiency is difficult emotionally (who prioritizes what?) and technologically (who is coding what?).
The big Management Consultants have seized this opportunity by helping CEOs directly with this heavy lifting. Marketing Agencies are not... but they should and they can... by adding technology solutions beyond the Media Platforms.
Accenture, Deloitte, Mckinsey, PwC, etc. always follow the opportunity (so can you).
Here are some excerpts from the latest Advertising Age Cover Story - "Out of the Shadows, Consultants Creep in on Agency Turf."
... bring together the agency's data, analytics, research, CRM and search technology capabilities with the goal of creating more personalized content for clients.
The big consultancies are underestimating the value of creativity [and] the agencies are under- exploiting the value of business analytics," said Ivan Pollard, senior VP-strategic marketing at Coca-Cola Co. "Someone's going to crack that soon because data plus creativity is the future."
... startups like Uber and Airbnb have built brands by disrupting traditional business models with easy-to-use consumer interfaces—not with big ad budgets.
"Historically, brands have been built by pushed messages" with ads that gave "suggestions about how you should feel, or emote or think about a product or service," he added. But "we don't believe that is true at all anymore." Instead, Accenture's philosophy is that brands are built through "hundreds of customer interactions," ranging from e-commerce experiences to how people are treated in physical stores
The new branding is this idea of building experiences for customers that allow them to experience you in ways that are much more honest and truthful and engaging than just standing on Mount Olympus shouting what it is that you want somebody to believe about your brand,
One of the things that the consultancies have going for them is that they are not going through the traditional marketing channels. They are either going top-down through CEOs, or they are even going through the board
Once inside, consultancies position themselves as cost savers via big reorganization projects, while ad agencies are perceived as cost drivers
Deloitte Digital's agency Heat says, " We won this account specifically because we understood their business. We could bring all of the competitive intelligence and business strategy to bear in the creative pitch process and ultimately brought a data-driven approach to world-class creative," Hatch said. "You've got to check all those boxes."
SO... the article headline is wrong. What the Managing Consultants provide has never been the "Turf" of the Agencies.
However, technology solutions integrated across a clients business goals is an opportunity AND an obligation for all vendor/partners.
FYI - Adweek also explodes this in the "Big Bang - New World Order - Global consultancies are rocking the agency world, creating a new universe of offerings that meld marketing and technology."
The problem is that this transition to digital efficiency is difficult emotionally (who prioritizes what?) and technologically (who is coding what?).
The big Management Consultants have seized this opportunity by helping CEOs directly with this heavy lifting. Marketing Agencies are not... but they should and they can... by adding technology solutions beyond the Media Platforms.
Accenture, Deloitte, Mckinsey, PwC, etc. always follow the opportunity (so can you).
Here are some excerpts from the latest Advertising Age Cover Story - "Out of the Shadows, Consultants Creep in on Agency Turf."
... bring together the agency's data, analytics, research, CRM and search technology capabilities with the goal of creating more personalized content for clients.
The big consultancies are underestimating the value of creativity [and] the agencies are under- exploiting the value of business analytics," said Ivan Pollard, senior VP-strategic marketing at Coca-Cola Co. "Someone's going to crack that soon because data plus creativity is the future."
... startups like Uber and Airbnb have built brands by disrupting traditional business models with easy-to-use consumer interfaces—not with big ad budgets.
"Historically, brands have been built by pushed messages" with ads that gave "suggestions about how you should feel, or emote or think about a product or service," he added. But "we don't believe that is true at all anymore." Instead, Accenture's philosophy is that brands are built through "hundreds of customer interactions," ranging from e-commerce experiences to how people are treated in physical stores
The new branding is this idea of building experiences for customers that allow them to experience you in ways that are much more honest and truthful and engaging than just standing on Mount Olympus shouting what it is that you want somebody to believe about your brand,
One of the things that the consultancies have going for them is that they are not going through the traditional marketing channels. They are either going top-down through CEOs, or they are even going through the board
Once inside, consultancies position themselves as cost savers via big reorganization projects, while ad agencies are perceived as cost drivers
Deloitte Digital's agency Heat says, " We won this account specifically because we understood their business. We could bring all of the competitive intelligence and business strategy to bear in the creative pitch process and ultimately brought a data-driven approach to world-class creative," Hatch said. "You've got to check all those boxes."
SO... the article headline is wrong. What the Managing Consultants provide has never been the "Turf" of the Agencies.
However, technology solutions integrated across a clients business goals is an opportunity AND an obligation for all vendor/partners.
FYI - Adweek also explodes this in the "Big Bang - New World Order - Global consultancies are rocking the agency world, creating a new universe of offerings that meld marketing and technology."
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Managing Your Agency's Sales Pipeline
Photos and Tweet from
Another MAB FABulous session at MAB 14
Managing an Agency Business meetup series.
Come next time
to meet founders of Boston's top design, dev and marketing agencies
This event featured a panel discussion on "Managing Your Agency's Sales Pipeline"
with topics
including how to better qualify leads, managing your daily sales
responsibilities,
improving your
scoping process and increasing your close rate on new deals.
Here are notes from this session on your Sales
Pipeline:
Give free
advice to connectors in your target markets
Get permission
from clients to do your own PR
Share
challenges publicly (podcast/Post) as process to solve… be that network of
solving
Know target
personas
And their
networks
Who is funded,
hiring. Read Venture-Fizz
Outbound
prospecting = big pipeline
Find, meet,
qualify, pitch, close
Read
Predictable Revenue – segmentation of roles. cold-callers, Account person,
Know Persona
details – their issues, needs, size, fears, competitors, what tech are they
using,
Segment
qualifying
A/B split test
everything
Quality – Tier
1 - Priorities
Quantity – Tier
2 – General category
Practice – Tier
3
Owler – target
account news
Google Alerts
Have top 20
accounts listed and printed… share with potential partners/everyone
Load emails to
systematically touch - Yesware, Sendbloom, Outreach.io
Ask prospects,
“How is this digital project going to help your business?”
Pre-qualifying
– Speed process by asking if they appreciate this:
“up-front
contract” – setup in advance “I assume you will want to know how
we work,
prices, relevant case studies.” I will need to ask budgets, timing, how
you make this
decision”
Give/Get
Balance = Respect
Be careful not
to condition your client to keep asking for more, time, scope creep
BUT they need
to be asking for more. Healthy
Do - Scorecard…
Prioritize a list of Gives/Gets. Match numbers for each ranked item.
List “Gives” –
info, proposals. trials, better terms, Sales Engineer time, consulting,
extension
on trial, discounts
List “Gets” –
decision process, timeline, meetings with seniors, budget,
referrals, testimonials
Sales is making
connections and helping people out
Be as objective
as possible. Not emotional. Practical
Best sales
movies – Pursuit of Happiness. Tommy Boy.
Stop pitching – conversations
Helping – not commissions
– we cannot do everything. We have great
partners
Help wherever you can
Follow GaryV –
“Jab, Jab, Jab, Right Hook”
Read Blinkest
(book summaries)
Moves:
“I’m confused”…
“you said this, but this happened.” Hold them accountable
Never say,
“just checking in”
Pick up the
phone!
Set
expectations
Do – Summary
email. Let them know before you send it
List key action items for both … (active listening) … ask for confirmation
Hold accountable
Decision date? Put 15 minutes on the calendar
Missed? Resend
Confirm “what is best way to communicate with you”
I will get back to you within 24 hours… what can I expect from you?
ALWAYS start “The reason for my call is…”
Influence https://en.wikipedia.org/wiki/Robert_Cialdini - Reciprocity. Give reason
Keep emotions
out
Have a
walk-away line… do not cross it!
Handoff from
Sales to production/service… (at 40:00+)
Kick-off deck
…?
Use “Summary
Email” to follow up call… and start next meeting for clarification
…?
Get paid for pilot
Have detailed
success criteria
…?
Sales Stacks:
Owler – target
account news
Google Alerts
Hubspot to
Zapier to service tools
https://app.contactually -CRM (like Zendesk)
https://www.crystalknows.com/ - get psyched
?...Todapt –
email
https://leadiq.com/account/plans – profiling, emails
Panda Doc –
contracts, sow, stripe for recurring billing
Custom token/fields
CloseIO
...?
Sendbloom –
good for workflows
>
Leadsboost – data
ZoomInfo
Uber conference
Pipedrive
Hubspot
Hunter – email
> Banana
Tag – cleaner
Linkedin
VentureApp?
Drift >
Zapier > Slack
>
Crunchbase
CharlieApp –
meeting prep data
Feedly
Sanebox
Any
suggestions? (Should there be a collaborative MAB community wiki?)
FYI, I have a list of tips on "Selling Out" at http://bit.ly/TipsOnSellingOut
FYI, I have a list of tips on "Selling Out" at http://bit.ly/TipsOnSellingOut
David Cutler
Managing Director - www.CreativeChaos.co
617-331-7852 - dcutler@creativechaos.co
www.DavidCutler.net
Managing Director - www.CreativeChaos.co
617-331-7852 - dcutler@creativechaos.co
www.DavidCutler.net
About MAB
Managing an
Agency Business
(MAB) is a quarterly event series focused on
bringing
Boston-area agency founders/owners/managers together to discuss
the 'business'
of running an agency. Topics of conversation include business
development,
operational management, developing culture and anything other
than the actual
services you offer your clients. MAB is not another networking
event for hand
shaking and business card swapping but rather an intimate
gathering of
peers looking to share their trials/tribulations in building successful
agency
businesses.
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