business

The Hour of the Underdog

Robert Borneff Marketing , , , 0 Comment
The Hour of the Underdog

Successful, well-managed companies are excellent at developing and improving their products and services, so that they perform  exactly according to the customers’ needs. These companies listen carefully to their customers and everything that may not please the customer is rejected.

Professional market research, good business planning and proper execution of the plan are cornerstones of good management.

Successful companies grow continually to maintain their share prices and to create new opportunities for their employees. To maintain that growth the focus is on large markets that promise a maximum of revenue.

Sounds good! Doesn’t it? There is only one problem. Large and well-managed companies are often good in developing and improving products that already exist. This can be for example a recliner with even more motion functionality or a softer rug or faster closing window shades.

But what about products that are new on the market or not even invented yet. What about products that are currently only sold in niche markets? What about products that provide a lower margin than the mainstream products? For example a recliner with integrated butler to operate the TV remote and provide drinks; a self-cleaning carpet or grocery bags that dissolve into air after 48 hours of use.

It turns out that big companies are often only good with sustaining technologies, meaning already existing products. Regarding new or different products these companies often fail. The reason for that is, that the same management practices that made these companies to industry leaders also make it extremely difficult for them to work with disruptive technologies. This is the conclusion of Professor Clayton Christensen in his book The Innovator’s Dilemma.

So, What’s the Big Deal?

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Warning: Contagious!

Robert Borneff Marketing , , , 0 Comment
Warning: Contagious!

Watch out! Don’t get too close! This is CONTAGIOUS! Is this about a disease or germs or anything like that? No! Not at all! It’s about ideas and products and a great book that describes why some things become very popular and others die before anyone notices.

Jonah Berger explains in his book Contagious that there are 6 STEPPS that make things popular or go viral on the internet. See how you can use them for your messages.

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How to use Digital Data for Your Business

Robert Borneff Marketing , , , 0 Comment
How to use Digital Data for Your Business

The availability of more and better digital data helps companies to better understand their customers through instant feedback. According to Ajaz Ahmed and Stefan Olander in the book Velocity, brands need to use digital data to be “useful” for their customers rather than “convincing”. The following are the seven take-aways of the book:

  1. A Smith & Wesson beats four asses

New technology is changing the rules. With mountains of data available, brands should carefully collect significant digital data to learn about their customers and adapt to the new circumstances. Innovation and reinvention must become an ongoing task. Resisting the change will lead to a decline of the business. Small businesses have the advantage of being more agile and can react faster to change. Small organizations should live up to a culture of innovation and be ready to leap at any given time.

  1. It’s easier done than said

Changes and innovation should be put in action immediately, without long preparation. If it does not deliver the expected results, it always can be changed afterwards. If you know what your customer wants, deliver it before he figures it out by himself. Action tops strategy!

  1. The best advertising isn’t advertising –make meaningful connections

Business is done between people. People need to be connected to do business. Advertising is not enough anymore. The customer needs to be engaged. Digital technology allows more communication in different forms (blog, facebook, twitter, etc.) The customer needs to understand and share the story behind a service or a product. Serving the customer means entertaining the customer and creating emotions.

  1. Convenient is the enemy of right

Shoot for the moon, so you can hit the stars. To be on top of the game it’s necessary to work on the highest level of achievement. Learn from experience – yours as well as others. Make things as simple as possible.

  1. Respect human nature

Use digital data to learn about the customer and combine it with real life experience to make life easier, richer and more fun. Apply your messages to different senses of the human body (visual, audio, smell etc.) Support your customer in choosing the right product. Remember the feeling when a pharmacist gives you the right product for you out of a two shelf collection.

  1. No good joke survives a committee of six

Make decisions based on facts and stand behind them. Do what’s right and not what everybody does. A open discussion must be honest and lead to practical decisions. Be guided by your mission and your values.

  1. Have a purpose larger than yourself

Be guided and inspires by your mission. Dream big and love what you do. Be taken away be the people you serve. Have an overall goal that helps the public.

On a personal note I think that a lot of companies don’t realize the power and opportunities of digital data. Being engaged with your customer and relying on feedback will be a crucial part of many businesses in the next years. Here at Jazzyjobber I am looking for ways to create an organisation that prioritizes what the customer wants and delivers what’s requested.