Why Some Ads Go Viral and Others Don't - Video - Harvard Business Review

Why Some Ads Go Viral and Others Don't - Video - Harvard Business Review

Skipping past the commercials seems to be normal watching behaviour.... Research indicates a change in where the "punch" occurs can retain the viewer.
Have a watch.

Should multiple voices represent the Company?

Over the weekend this question came up a couple of times from clients and that has prompted me to write a short response to all of you.  “Yes”, I believe “voices” can resonate better with the target customer.  Take for example a great Canadian brand WestJet.  You never see one voice but rather you see multiple voices with one message “I’m a WestJetter too”.  What must happen is the communication strategy must be clear so that we are all “on message” and not having conflict arises from differing communiqués.  Now Apple had a single voice in Steve Jobs; will Apple now employ multiple voices to further engage…  Tell me what you think?

Social media can help build and sustain your voices – Use social media tools to engage the customer.  Remember, create the communication strategy first, unify the message and have those voices engaging!

When do you need a Contingency Plan?

Follow this simple 3-Point Rule…..

First things first, let’s look at this from an impact and likelihood standpoint:

High Impact – High Likelihood - - Strategic Plan;

Low Impact – Low Likelihood - - Operations Plan and;

High Impact – Low Likelihood - - Contingency Plan.

Using this 3-point rule you can quickly assess the likelihood of occurrence and the potential impact.  The Contingency Plan is all about the “Who does what when IF “_____“should occur?   Here you should list out what events/triggers can change the business?  Authors Nolan, Goodstein & Goodstein suggest that events stem from either the:   1) External environment and 2) Internal issues.  Most organizations have the Strategic and Operational Plans but they miss out on the Contingency Plan development.   

For example, during an acquisition, the target is identified and you start working away quietly.  You may need a contingency plan to deal with a second bidder, assuming the impact to your business is high if you lose out.  If you do not plan, in this case, for a second bidder and one appears, then emotion can be left unchecked and price escalation is the result.  Or the outright loss deeply affects your competitive position in the future.  Take another....  An organization is planning to have a contract renewed, assuming it will be as management knows that the service levels are good and there have been no supply disruptions - business as usual, right?  Then "Suprise!" 

Management teams today should develop Contingency Plans as potential changes that are of high consequence, albeit a low likelihood of occurrence are out there. "Surprise!" does happen….. 

What to do…

When you bite off more than you can chew?

A famous idiomatic expression that suggests you have taken on more than you are capable of.  So, rise to the challenge!  Here are 3 very simple, straightforward things you can do that will help you tackle what seems to be a gargantuan challenge.

1.      Take one bite at a time.  Often we see the enormity of what we have committed to and fear sets in - - stop, take a step back and break it down.

2.      Prioritize and set expectations.  Often we get ahead of ourselves in promising and delivering.  Prioritize the task with key stakeholders and set expectations.

3.      Recognize that you may need support - - Ask for it.

I cannot recall a leader/executive in the making that did not bite off more than they could chew at one time or another…  Nope, I cannot think of a single one.  Why?  Because the “can-do” courage, the nudge from within says:  “I’m Hungry!”  If you are not hungry, chances are you are complacent – reach a little.  That is how you develop.

RIM!

Too little, Too late…. And here’s why we Do SWOT Analysis

A change in the executive is supposed to reassure the investment community that Research in Motion can ….. Compete in the new smart phone market…. Next Year?

Each year the senior management gets together and reviews the Strategic Plan, and here’s where complacency becomes evident.  The “external analysis”, opportunities & threats are real and the “strengths” need to capitalize on opportunities and mitigate the identified threat. You must not conclude your planning session without scenarios assigned a probability of likelihood and charted.   You cannot wait 4 years, each of which has noted the threat of Apple to your smart-phone business before you do something.  

Next time you are asked to take part in a Strategic Planning session, take the SWOT Analysis seriously.

Respect your competitors’ desire to displace you!  Hear what your customers are saying and innovate – this will help mitigate threats to your business.

Stop the Meeting Rollercoaster with

8 Minute Meetings

If you come from an organization that seems to have a lot of long meetings (1 hour & 2 hour) and most then wonder, “Why?”

·         I’m in a meeting

·         I have back-to-back meetings

Sound familiar?  If you want to increase efficiency and engagement from your team try having an 8 minute meeting, keeping these in mind:

1.      Enable Action - You do not have to play every instrument just be the conductor

a.       Provide guidance– this is your role if you call the meeting

2.      Have frequent check-ins

a.      Smaller numbers – 10 or 12 at a meeting creates loafing.  Over the years meetings and invitees have ballooned; lower the list and… look out for the pout!

3.      Lead and engage with open/honest communication

a.      Specific status updates

b.      Last question before you adjourn – “What do you need me to do?”…  Back to point #1, Enabling Action requires you to “Remove obstacles”.

Walmart Changes its Tune!

I have said this often, “When a company changes its tune, it’s time to question their stated competitive advantage”.

You may have seen the new Walmart commercial with a tall, skinny, poor rapper guy reassuring you that Walmart will price match.  The first time I saw the commercial I thought, “What?”   Walmart has changed its tune from “We’re Rolling Back the Prices…” to:  “We will Price Match”...  Price Match?

Think about it, over time your competitors can learn your business and as they grow they will inevitably erode that which was your competitive advantage (Cost Leadership).  For example, HP slowly learned of Dell’s strategy (Differentiate) and was able to copy it; a few short years later, Dell is hardly in focus, hardly different.

For this holiday season Walmart’s tune has changed to “We will price match… guaranteed!”  And with that I wonder:  “Who has the lowest price now?”  Walmart’s strategy was to be a “Cost Leader” and they were untouchable for the last decade but like Dell, has another retailer amassed the buying power to rival Walmart, say, Target?  When your margins are in the low single-digits you must have the top-line growth – the dominant number that said, when the top-line growth is being threatened I then turn to their single-digit earnings ratio and can only predict that it is looking ugly for an investor going forward.

Merry Christmas... I will be shopping somewhere else!