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Saturday, November 29, 2008

The Terror that strikes the city of “Dreams”

While we Salute our Brave Heroes, there is yet another day when Mumbai attack survivors recount horror and its day of funerals leave behind an outraged nation with grief and anger as India reckons with its "9/11". Mumbai’s nightmare ends after 59-hour siege with Commandos mop up last of Mumbai militants, and Mumbai slowly coming to terms of this horrific incident.

Terrorists stayed in room 630, had many visitors, and shamefully helped by Mumbai locals had a Target to kil 5000 people. We are now asking questions like Is Al-Qaida behind Mumbai terror attacks? Or did Dawood provided logistics but for sure that the Terrorists very familiar with the hotel setup and were `instructed to “Kill till death”`!. Government is saying that they have "Enough proof" of militants taking orders from inside Pakistan! and initiating Steps for better coastline security post Mumbai attacks.

The slight hope news coming out is that the Death toll in Mumbai attacks revised down to 174 and even one of the Taj tragedy survivors stich up rift, cancel divorce . It is very unfortunate that we even had to loose that number. Assault on India's fabled city of dreams has made people to feel helplessness, angry, frusturate, and asking : How much is too much?

Mumbai 26/11: eye-openers, hopefully for us as individuals and for the so called political leaders of the nation. One immediate reaction for a ruling party is that the home minister Shivraj Patil has steped down and P Chidambaram to be new home minister.

The Terror attack has now prompted for new hotel rules, however Oberoi still maintiaing that Security and hospitality can't go together.

I am sure that we all will have to live with Mumbai attack and its aftermath but also should take time out to Pay tributes to bravehearts and wonder What to do when terror attacks?

Friday, November 28, 2008

Six Tips to Build Your Brand

A wonderful article by Nathan Eddy about building brands with the help of new age marketing.

Social networking tools such as Twitter, YouTube, Facebook and others offer SMBs new ways to build communities and your brand. Here are the best ways to build both at the same time.

In today’s business climate, money is tight and competition is fierce. The Internet and 24-hour news cycle flood our brains with information and advertising. But how much of it sticks?

The midmarket business owner needs to spend advertising money wisely to make the maximum impact—that’s obvious. But what about Web 2.0 technologies such as Twitter, Facebook and LinkedIn? How do you build an online community and keep it from falling into neglect? In an age where communication is everywhere, how do you best extract feedback from your clients? It’s a big, bad, branded world out there, but here are some tips that won’t break your budget and build a brand that puts you ahead of the pack.

1. It’s Not (All) About Money
Enterprise companies across the globe spend money on advertising at a rate that suggests saturation is the key to visibility. But is it? To those of us who can’t walk through Tokyo, London or New York without seeing Golden Arches and Nike Swooshes, the answer might seem "Well, duh." But for many, if not most, SMBs don’t have the advertising budgets to erect Blade Runner-scale neon billboards. The SMB owner must look to innovative marketing opportunities in order to build the brand without breaking the budget.

“I’m in the process of launching a new business of my own,” says BL Ochman, a Web and blog marketing and branding consultant who runs What's Next Blog. “It’s about creating a community and letting people know who you are and asking for input. That’s just not going to cost any money to do.”

Build an audience by engaging people, Ochman suggests. The more you do that the less you need to spend on advertising. Unless that audience is in place, however, a marketing budget is indispensable. “Unless you have people already engaged, you better think about how you’re going to drive traffic to the site, and unless you already have an audience you cannot do this without money,” she says. “An overnight success still takes 11 years.”

2. Web 2.0 Is Your Oyster
If you give customers and potential clients an interactive forum, your company's name (and logo) is at the top of their minds. Ochman suggests setting up a blog and offering fresh content in an interactive environment. Keep in mind, however, that there must be a reason for an online community to grow -- it's not something that can be forced. SMBs can easily make the mistake of thinking, “If you build it, they will come.” Keep content and conversation original, and foster an ongoing dialogue by raising questions and proposing solutions in an informal setting. “You need to concentrate on your niche,” she says. “There’s a difference between buckshot and a targeted approach.” Ochman says the top three most important online networking tools are Twitter, LinkedIn and the blog community. “You cannot succeed in any business if you’re not in that [blog] community,” she says. “They’re much more influential than social media, frankly.”

Michael Alter, president of Glenview, Ill.-based SurePayroll and architect of the recent survey, “Small Businesses Harnessing the Power of Social Networking for Business,” says SMBs need to choose the social media that best fits their market. “Go out and hire yourself somebody who’s between 22 and 35, ask them how they communicate and let them communicate your brand for you online,” he says.

3. Harvest Feedback from Your Clients. Directly
The Internet has made expression of opinion easier than ever. This can be a good and bad development. Many company Web sites now come equipped with blogs where visitors can leave comments and other forms of feedback. However, there's a big difference between allowing a customer to punch in an opinion and taking some time to speak -- yes, speak -- to the client directly. While the Web essentially comes with an integrated feedback loop, a phone call or an office meeting is your personal extension of the brand. And no matter how you cultivate feedback, Ochman says it’s absolutely critical, even if the feedback is negative. “Companies are afraid: What if they say something bad?” she says. “You should be so lucky that someone tells you what they don’t like, because most of the time they walk out the door and they never come back.”

Alter agrees using social networks to solicit feedback is crucial. “Social networking is not so much about advertising as it is about feedback,” he says. “If you can start to do that now, the advantage you have as a small business owner is that most of your competitors are not.” Alter says if your business provides good service, you will get comments on your site that will drive more traffic than anything the company would post. “If you use [social media] to reach out to your existing customers, you can start to create a web from that,” he says.

4. Project Confidence and Leadership
The ability to project confidence and professionalism is intrinsic concept in understanding the importance of effective branding. The less money you can budget toward brand-building, for example, the more you need to consider how your brand can help position the company as the current (or future) market leader. While a good brand isn't built in a day, the combination of confidence and consistency lead to a powerful brand presence. Having a consistent strategy is a helpful way to do that (see next tip).

Offering a unique perspective to your client's problem also builds that brand awareness through leadership. If you think about every potential sale as a customer success story, then they become the best proof of why you're the right business to choose. “In the world of traditional ad media, you really want to be polished and buttoned-up,” Alter says. “They want to see professional-grade collateral. In the social networking space, professional looking doesn’t necessary mean polished. People are looking for accurate, straightforward information.” Conveying information in an honest sense will become increasingly prevalent, he predicts. “I think what you’re going to see on these social networking sites are advertisements that are going to be faster to market but less professionally edited,” Alter says. “In the social networking world, substance trumps form every time.”

5. Present a Unified Front
From the name of the company down to the corners of its logo, every element of marketing and promotion should tie directly into your core branding strategy. In essence, be articulate. Marketing slogans, sales pitches and the look and feel of your website should all dovetail with your brand strategy. A logos or catchy name is only a small part of that strategy. Giving your business a high-tech name with lots of X’s and Z’s may be a striking visual image, but does it tell the customer anything about how you will get the job done? By building a complete brand strategy, you cultivate an immersive client experience that fosters a professional relationship and most importantly, builds word-of-mouth—something Ochman says no amount of money can buy.

6. Go Bold, but Know the Risks
There is a time and a place for everything, and your business grows, so should the effort behind brand building. Today, risk-takers who post an outrageous YouTube video, or receive a glowing mention on a trendy tech Web site can catapult heretofore-unknown companies into the stratosphere. It might be tempting to embark on a risky but potentially rewarding marketing push. However, buying a booth in a trade show might be equally effective. Garnering laughs on YouTube doesn’t always translate into gathering business. As the saying goes, fortune favors the bold, but be sure you scale your efforts in accordance with growth.

“When you’re dealing with social networking, you have to realize that you are not in control,” Alter says. “You better deliver on what you say, because if you do, you’ll be fine. If you are trying to push yourself in a place you can’t support, that’s where you can get burned.” Ochman agrees, and stresses the strength of your community is critical as well. “Bolder is always better if you can back it,” Ochman says. “This is a long-term commitment. You can’t build your brand with one stunt. Before you get bold, you better build up your community so that somebody’s listening.”

Thursday, November 27, 2008

Terror Attack…Yet Again!!

This is becoming a ritual for Indian news channel with “Breaking News” providing information about yet another terrorist attack. This is a most horrendous attack that I am unfortunate to witness. I wish I could have elaborated on the attacks but currently my personal feeling is of helplessness disgrace and frustration.

Is this what our society across the world wants to evolve into? I am sure most of us don’t, but is this a “remote control phenomena”. Today my friend introduced me to this term - “remote control phenomena”.

When I see such young people becoming terrorists, just like the terrorists who are in their early 20’s that have attacked Mumbai today, makes me wonder and some way indicates the lowering level of patience in all of us. We want to achieve that house, that car, that religion, that aim………….and all that NOW… just NOW……without showing any level of endurance.

So the remote control phenomena explains that the movement we are interrupted by an ad in our viewing we just want to change the channel NOW. We virtually want everything with a remote control. Are we loosing our individualist level of patience and hence more prone to external factors to determine our acts?

Currently as Mumbai bleeds the tolls looks like 125 dead involving policemen, local people, foreigners and 327 wounded, cricket tour canceled, and so on. Even the most identified places in Mumbai likes of Taj & Oberoi Hotels attacked. Terrorists comes from the sea, starts firing on roads then hijacks a police car and openly fire on the people on the street before seizing various properties……It seems to be a plot of a typical Hollywood film.

While I am reluctant to articulate this post but is this just what I want to do – get frustrated, ashamed, disgrace and so on. I guess not. We as individuals need to combine the power to fight these killers without any caste, creed and religion. These killer does not belong to any religion they are simply terrorists.

My thoughts and prayers with all. 

Wednesday, November 26, 2008

Downsized? Fired? Here are the new rules of finding a job.

This is a wonderful articulated piece of advice by David Meerman Scott for those who’s Company lost its funding, Outsourced, Caught in a merger, Downsized, Fired. This article not only identify the new age “marketing yourself” techniques but also provide some insights into how to sustain your market position on the new age marketing map. I wish no one should go through an ordeal like that, & I am sure we will turn back for the good.

David’s Article

It seems like every day I learn of another person who is on the job market. Usually that's because when they need a job, all of a sudden people jump into "networking mode" and I hear from them after years of silence. Hey, I'm OK with that, it's always good to hear from old friends. And I've been fired three times so I certainly know what it's like to be on the job market.

But is this the best strategy to find a job?

Hell no!

If you're like the vast majority of job seekers, you'd do what "everyone knows" is the way to find a job: You prepare a resume, obsessing over every entry to make sure it paints your background in the best possible light. You’d also begin a networking campaign, emailing and phoning your contacts and using networking tools like LinkedIn, hoping that someone in your extended network knows of a suitable job opportunity.

I got news for you. The old rules for finding a job suck in today's market. Well, OK, I admit that is a little harsh. Sure, many people find jobs the old way. Just like credit card companies may sell you a card via direct mail and you may hire some gutter cleaning services from a guy who interrupts you at dinner with a telemarketing call. But it's increasingly rare.

- The old rules of looking for a job rely on spamming your network. (Spam is email that is sent, unsolicited, to a large number of people in substantially the same format. That’s exactly what many job seekers do.)

- The old rules of finding a job required advertising a product (you) with direct mail (your resume that you send to potential employers).

- The old rules of job searches required you to interrupt people (friends and colleagues) to tell them that you were on the market and to coerce them to help you.

You want to find a new job? You have to stop thinking like an advertiser of a product and start thinking like a publisher of information.

So what is the New Rule(s)………Read More

Sunday, November 23, 2008

Top 10 Most Expensive Accidents in History

Throughout history, humans have always been prone to accidents. Some, such as the exotic car crashes seen on this page, can be very expensive. But that's trivial compared to the truly expensive accidents. An accident is defined as "an undesirable or unfortunate happening that occurs unintentionally and usually results in harm, injury, damage, or loss". Our aim is to list the top 10 most expensive accidents in the history of the world as measured in dollars.

This includes property damage and expenses incurred related to the accident such as cleanup and industry losses. Many of these accidents involve casualties which obviously cannot be measured in dollar terms. Each life lost is priceless and is not factored into the equation. Deliberate actions such as war or terrorism and natural disasters do not qualify as accidents and therefore are not included in this list.

#10. Titanic
$150 Million
The sinking of the Titanic is possibly the most famous accident in the world. But it barely makes our list of top 10 most expensive. On April 15, 1912, the Titanic sank on its maiden voyage and was considered to be the most luxurious ocean liner ever built. Over 1,500 people lost their lives when the ship ran into an iceberg and sunk in frigid waters. The ship cost $7 million to build ($150 million in today's dollars).

#9. Tanker Truck vs Bridge
$358 Million
On August 26, 2004, a car collided with a tanker truck containing 32,000 liters of fuel on the Wiehltal Bridge in Germany. The tanker crashed through the guardrail and fell 90 feet off the A4 Autobahn resulting in a huge explosion and fire which destroyed the load-bearing ability of the bridge. Temporary repairs cost $40 million and the cost to replace the bridge is estimated at $318 Million.

#8. MetroLink Crash
$500 Million
On September 12, 2008, in what was one of the worst train crashes in California history, 25 people were killed when a Metrolink commuter train crashed head-on into a Union Pacific freight train in Los Angeles. It is thought that the Metrolink train may have run through a red signal while the conductor was busy text messaging. Wrongful death lawsuits are expected to cause $500 million in losses for Metrolink.

#7. B-2 Bomber Crash
$1.4 Billion
Here we have our first billion dollar accident (and we're only #7 on the list). This B-2 stealth bomber crashed shortly after taking off from an air base in Guam on February 23, 2008. Investigators blamed distorted data in the flight control computers caused by moisture in the system. This resulted in the aircraft making a sudden nose-up move which made the B-2 stall and crash. This was 1 of only 21 ever built and was the most expensive aviation accident in history. Both pilots were able to eject to safety.
The crash was captured on video. It shows one B-2 Bomber successfully taking off followed by the B-2 Bomber which crashes. The crash starts at 2:00

#6. Exxon Valdez
$2.5 Billion
The Exxon Valdez oil spill was not a large one in relation to the world's biggest oil spills, but it was a costly one due to the remote location of Prince William Sound (accessible only by helicopter and boat). On March 24, 1989, 10.8 million gallons of oil was spilled when the ship's master, Joseph Hazelwood, left the controls and the ship crashed into a Reef. The cleanup cost Exxon $2.5 billion.

#5. Piper Alpha Oil Rig
$3.4 Billion
The world's worst off-shore oil disaster. At one time, it was the world's single largest oil producer, spewing out 317,000 barrels of oil per day.. On July 6, 1988, as part of routine maintenance, technicians removed and checked safety valves which were essential in preventing dangerous build-up of liquid gas. There were 100 identical safety valves which were checked. Unfortunately, the technicians made a mistake and forgot to replace one of them. At 10 PM that same night, a technician pressed a start button for the liquid gas pumps and the world's most expensive oil rig accident was set in motion.
Within 2 hours, the 300 foot platform was engulfed in flames. It eventually collapsed, killing 167 workers and resulting in $3.4 Billion in damages.

#4. Challenger Explosion
$5.5 Billion
The Space Shuttle Challenger was destroyed 73 seconds after takeoff due on January 28, 1986 due to a faulty O-ring. It failed to seal one of the joints, allowing pressurized gas to reach the outside. This in turn caused the external tank to dump its payload of liquid hydrogen causing a massive explosion. The cost of replacing the Space Shuttle was $2 billion in 1986 ($4.5 billion in today's dollars). The cost of investigation, problem correction, and replacement of lost equipment cost $450 million from 1986-1987 ($1 Billion in today's dollars).

#3. Prestige Oil Spill
$12 Billion
On November 13, 2002, the Prestige oil tanker was carrying 77,000 tons of heavy fuel oil when one of its twelve tanks burst during a storm off Galicia, Spain. Fearing that the ship would sink, the captain called for help from Spanish rescue workers, expecting them to take the ship into harbour. However, pressure from local authorities forced the captain to steer the ship away from the coast. The captain tried to get help from the French and Portuguese authorities, but they too ordered the ship away from their shores. The storm eventually took its toll on the ship resulting in the tanker splitting in half and releasing 20 million gallons oil into the sea.
According to a report by the Pontevedra Economist Board, the total cleanup cost $12 billion.

#2. Space Shuttle Columbia
$13 Billion
The Space Shuttle Columbia was the first space worthy shuttle in NASA's orbital fleet. It was destroyed during re-entry over Texas on February 1, 2003 after a hole was punctured in one of the wings during launch 16 days earlier. The original cost of the shuttle was $2 Billion in 1978. That comes out to $6.3 Billion in today's dollars. $500 million was spent on the investigation, making it the costliest aircraft accident investigation in history. The search and recovery of debris cost $300 million.
In the end, the total cost of the accident (not including replacement of the shuttle) came out to $13 Billion according to the American Institute of Aeronautics and Astronautics.

#1. Chernobyl
$200 Billion
On April 26, 1986, the world witnessed the costliest accident in history. The Chernobyl disaster has been called the biggest socio-economic catastrophe in peacetime history. 50% of the area of Ukraine is in some way contaminated. Over 200,000 people had to be evacuated and resettled while 1.7 million people were directly affected by the disaster. The death toll attributed to Chernobyl, including people who died from cancer years later, is estimated at 125,000. The total costs including cleanup, resettlement, and compensation to victims has been estimated to be roughly $200 Billion. The cost of a new steel shelter for the Chernobyl nuclear plant will cost $2 billion alone. The accident was officially attributed to power plant operators who violated plant procedures and were ignorant of the safety requirements needed.

Courtesy – Group Email

Layoffs and How to…?

In the harsh season of layoff, I do wonder that how companies reacts to situation like these. When things are fine then company goes all way to recruit 000’s but when times like what we all are going through these companies just starts laying people off…yes again in 000’s. It is unfortunate and makes me wonders about the process or thoughts being followed at the time of hiring. I do not intend to entirely blame the companies for that, but as we all are aware, we could have never expected the financial turmoil that we all are in. However having opined that, I still believe that at least someone could have seen it coming and /or reacted to it, we could have been…… Not sure about the an answer for that.

So as of now Philips to lay off 1,600 employees – CNN IBN, Jet Airways cutting salaries, India textile to loose around 5,00,000 jobs. Some other layoffs are citi layoff, ibm layoff, citibank layoff, cadence layoff, dell layoff, symantec layoff, micron layoff, ubs layoff and others most notable IT layoffs of 2008.

But then there is something  to Survive a Layoff. It could be 10 tips to survive a layoff, financially or Ten Ways to Survive a Layoff. But when you ask How Do I Survive a Layoff, you need to know How To Survive A Layoff Or Downsizing.

The time is tough but we hope we tied over it , soon. Have a Happy & Smiling Week.

Saturday, November 22, 2008

Finding New Markets by Tracking Channel Partner’s Customer Satisfaction Scores

It’s time to question the assumption that the largest channel partners and resellers deliver the highest levels of service.  The argument goes that these resellers have the resources, processes, systems and experience to deliver excellent service to every customer, every time. 

Nothing could be further from the truth.

Under attack from their cross-channel competitors and having to routinely sacrifice margins, bundle in services, discontinue unprofitable lines while attempting to stay up to speed with new product introductions and the technologies behind them, the largest resellers often deliver the worst customer satisfaction.  They have too many distractions to find new markets as efficiently as smaller and more focused resellers do.

Channel Loading Now In Progress – What about Satisfaction?

Well into the 4th quarter, these largest resellers are getting loaded up with inventory, motivated by Market Development Funds (MDF), CO-OP Programs, even cash sales incentives taken directly to gross margin, they are doing what they do best: move product. 

Nailing sales quotas is critical right now. Yet so is retaining your brand name and reputation as well, and your customer loyalty above all.  It’s time to start evaluating your channel partners for more than just their ability to move tonnage when it comes to products and more on their long-term ability to deliver solutions that stay relevant.  It’s time to see which resellers can also lead you into new markets too. 

Time to Start Managing Channels by Value

The mid-tier and smaller channel partners and resellers need to be looked at from their contribution to value-added services they add today and have the potential to in the future.  Entirely new market segments, many of them vertical, are being found today based on concentrating on nurturing and measuring channel partners on value, not sales alone.  The 20 year dominance of Printronix for example in bar coding and now RFID is attributed to this strategy.

Concentrating on the value partners are delivering can give you insights into entirely new markets – insights not possible with just a sales volume standpoint.

Getting There from Here

It seems counterintuitive to say that focusing on nothing less that sales results given the economy and all the bad economic news is foolish.  Bet remember that the best performing companies look at these slow times to aggressively invest time and effort to get stronger, more knowledgeable, more agile to capitalize on the bounce-back of the global economy.  The catalyst of this idea comes from the blog post Crisis Advice from GE's Immelt: Stay Committed to Growth. In this blog post is a great quote:

“Keep your company safe but keep building the future.”

Building for the future means getting to the truth of what your resellers are really contributing.  Sure, the largest and best financed resellers can help you slam-dunk your quarterly and yearly quotas. But what about your long-term relationships with customers?  Your brand reputation? Your ability to find entirely new solutions based on the lessons these resellers can give to you? The fostering and nurturing of customer loyalty?  

You’ll never know if your largest resellers are contributing to or detracting from your brand and customer loyalty until you start measuring customer satisfaction.  Consider these potential ideas to gain greater insights into customer satisfaction across your entire reseller base.

  • Getting Your Channels Twitterpated. Get on Twitter and post customer satisfaction surveys often, solicit feedback, and track customer satisfaction by reseller and post it on your Intranet sites.  It will surprise you; often the largest resellers have the worst customer satisfaction scores.
  • Facebook Applications for Tracking Reseller Satisfaction. Go after your customers using Facebook as well, and get them to opt in and provide the best and worst experiences they have had with your products and channels.
  • Look To Your Resellers Who Excel At Customer Satisfaction for new market ideas.  There is an abundance of examples that show how small yet highly focused resellers can give you entirely new ideas of how to find new markets and dominate them.  The slow yet deliberate path of Printronix to dominate the bar coding and then the printing of RFID tags was a 20 year overnight success story.  It all started with resellers who found this market opportunity.

Bottom line: Get ready for the turnaround by measuring how effective your channel partners are in nurturing customer satisfaction, because in discovering that you will find new market opportunities as well. 

Courtesy – Louis Columbus, Perfect CEM

Thursday, November 20, 2008

Enterprise MicroSharing Tools Comparison

As the economy toughens, companies must function more efficiently. Travel budgets often suffer the first cuts, leaving geographically decentralized teams with an urgent need to replicate both structured and unstructured time together. Better collaboration tools jump from nice-to-have to core and crucial. Concurrently, employees see the collaboration, networking, problem-solving and other productivity benefits of web 2.0 tools and want to apply them at work. These tools directly contribute to knowledge capture and management as workforces are scaled back and baby boomers retire, and they boost motivation and retention, especially among millennial generation employees.

CIO magazine’s October survey of 243 IT executives found three-quarters plan to freeze or cut their IT budgets. There is a critical need for cheaper, more versatile ways for information to flow within the enterprise. Enterprise-grade versions of Twitter may be the low-cost solution that fills this need.

Twitter is a social networking, communications and publishing hybrid used to exchange short bursts of information within formal and ad-hoc one-to-many networks. Accessible from many different interfaces on both computers and mobile devices, the service adapts to diverse communication styles and settings. Twitter has proven its value in diverse business setting and is being taken seriously as a business tool that shares knowledge, connects people and spreads ideas. Twitter and similar applications are often referred to as “microblogging,” although we suggest “microsharing” as a more apt descriptor.

Microsharing for organizational communication and collaboration fundamentally changes how employees interact with others and grow their professional capacity. Microsharing connects people in ways that promote mutual support, rapid networking, inspiration, mentoring and idea exchange.

Read more of 19 Applications to Revolutionize Employee Effectiveness (PDF)

Courtesy : Expert Access

Wednesday, November 19, 2008

Me & Recession

In the evening when I am sitting in my hotel room with day gone by full of meetings, I “accidentally” peeped into some of my daily news site. Of course at the time of such a global recession, it seems to have virtually gone everywhere – countries, economies, sector, industries, newspapers, radio, TV, and I mean everywhere.

Markets remain under pressure what Hindus says, Financial Times argues that India's IT executives fear worst slowdown and the Economy seemingly in bad shape. Even Jerry Yang To Step Down As Soon As Yahoo Board Finds Replacement.

As Housing Starts at Record Low, the Economic Forecasters, Who Missed the $8 Trillion Housing Bubble, Predict 14 Month Recession. Economist’ View relates the current condition to a crispy electronic music of a horror movie in "Nightmare on Main Street".The Economist: Free Exchange says about this catastrophic collapse through You don't say? and now The Fed has been forced to seek risk while other central banks seek safety.

Ben Bernanke said today “the TARP plan, and any subsequent debt-financed bail-outs, pose no credit risk to America”. This rather remarkable statement and argument about Could America default? Is debatable under current circumstances. Now even people have been forced to ask to the Dear Economist: How do I calculate an appropriate salary?

This recent market turmoil portends hard times for even the wealthiest universities. Last week, Harvard President Drew Gilpin Faust told stakeholders that, with the research service Moody's projecting "a 30 percent decline in the value of college and university endowments in the current fiscal year," Harvard needs "to be prepared to absorb unprecedented endowment losses and plan for a period of greater financial constraint." Is this Harvard University's investment errors.

With so much recession affecting countries all over, you can now get The Spanish Crisis In A Nutshell. With companies all across filing chapter 11 and looking for bailouts, Robert Reich’s has done a decent job explaining The Real Difference Between Bankruptcy and Bailout. Hence I guess your Financial futures? predictions depends upon your investing in the same.

Having done the Recession Dating and I hope people should not be forced to say To Hell with the Long Run.

Tuesday, November 18, 2008

Look and You Will Find ... $$$

The Ignored Gold Mine—Channel Management Contracts

With so much pressure on marketing departments to generate positive returns on the investments they make in channel marketing and channel programs, getting the most out of managing contracts is often forgotten.

There is no clear return on investment calculation for contract management, and as a result, it gets ignored.

Yet contract management needs to be the basis of any multi-channel management strategy today. It's not enough to just rely on the outbound marketing strategies anymore; looking instead at how to better use pricing discounts, arbitrate on pricing strategies, and how to better manage resellers to performance levels and goals all can be tied to the better use of contract management.

Cisco Looked ... and Found

How Cisco was able to capitalize on putting contract management at the core of their channel management strategies is a case in point. Instead of allowing pricing discounts and opportunities for cost savings to expire, Cisco has created an enterprise-wide contract management system that is now core to their multi-channel management strategies. Their ability to manage pricing, analyze contracts down to the clause level and also increase the profitability of their channel partners, and in so doing add to their own, is evident in the latest fiscal-year figures reported. An astounding $4.8B backlog and 7% revenue growth illustrates how critical managing contracts with their many channel partners is.

An Emerging Contract Management Maturity Model

The majority of companies rely on intensive contract management systems to manage their procurement and supply-chain contracts, yet this same level of concentration and intensity is needed for sell-side contracts as well. From several companies that we spoke with in the discrete-manufacturing, high-tech, and process-goods industries that rely on contract management in their sell-side and multi-channel management operations, the following maturity model has emerged:

Level 1: Stand-Alone and Siloed

The majority of these companies use sell-side contract management only for managing pricing exceptions and as a database for re-evaluating sales contracts.

These databases often reside in Microsoft Access databases and Microsoft Excel. As a result, there is often a lag in terms of the accuracy of the data that leads to lost profit opportunities as well.

From the research, approximately 70% to 80% of the companies researched are in this category. There are major opportunities for increasing contract management performance in multi-channel management strategies.

Level 2: Minimal Integration leads to Margin Loss

This is the middle ground of the contract management maturity model, and it is populated by companies that have integrated their sell-side contract management systems with sales operations, Accounts Payable (AP), Accounts Receivable (AR), and in the case of distribution-based businesses, their pricing and forecasting systems.

On average, these systems have two to four system integrations, most often through internally developed adapters or connectors their IT departments have created. Companies in this level of the maturity model have the ability to forecast and plan out the impact of taking discounts across their reseller base, creating specific programs to help resellers get to their specific performance goals.

Level 3: Contract Management Platform

In companies including Cisco, Ingram Micro, Intel, GE, Microsoft and others, channel contracts are managed more as part of the broader Master Data Management (MDM) strategy, which are what SAP customers commonly use for managing their Supplier Relationship Management (SRM) contracts.

Forward-thinking companies spoken with during a series of sales calls on sell-side contract management want to move their dealer and distributor contracts into their SAP MDM warehouses as well.

Companies that have done this are capable of managing their multiple channels more profitably because the contracts can be accessed and used by anyone completing a marketing plan or evaluating a new marketing strategy.

Bottom Line:

Instead of filling up filing cabinet with contracts, get them automated so they can be used for better managing your resellers and creating incentives for your channels to seller higher margin, more profitable products.

About the Author:

Louis Columbus is a member of the Cincom Manufacturing Business Solutions Team and a former senior analyst with AMR Research. He has worked with enterprise clients on defining solutions to their channel management, order management and service lifecycle management strategies. Mr. Columbus also teaches graduate-level international business and marketing courses at Webster-Loyola Marymount University and University of California, Irvine. He is the author of 15 books on technology and two books on analyst relations. His book, "Getting Results from Your Analyst Relations Strategies," can be downloaded for free.

Sunday, November 16, 2008

Retaining and Growing Loyal Customers in a Down Economy

Let’s face it, the projects getting funded faster than any others in marketing, operations, and service are focused on more fixing big complex problems than they are on getting to know customers more individually.  Trying to bring order to chaos right now is important; yet more critical is taking the time to define customer-by-customer strategies for enriching, adding value to, and ultimately getting your customers to their goals. 

Being a major contributor to getting your customers to their goals right now is more important than any low-price leader strategy or doing bundling of services.  What customers need more than anything else right now is results.

Time to Start Leading Your Customers’ Results Revolution

It’s not easy for a director, VP or even a CEO to not panic and start spending on the areas of their companies that dissatisfy customers. From the case studies completed for courses taught in International Marketing and International Business however, this is exactly the wring thing to do.  In the panic of troubled strategies, company leaders lose track of why their customers trusted them in the first place.

If there is a strong, resonating lesson to be learned from the case studies completed of General Electric, IBM, Proctor & Gamble and Schindler it is this: transforming marketing, selling and service strategies to over-deliver results and guidance to customers in difficult times is a matter of the company doing the serving surviving.  Here are the lessons learned:

  • Create webinars, seminars, and conferences aimed at giving your customers insights into their industry.  Taking this step, even if it is small and a webinar which can be inexpensively done is critical.  It signals that a strategy of helping your customers get to their goals is what’s on your agenda. Bring in an industry expert if you can afford it and give your customers insights into how they can be more efficient. Think of this as an investment in staying more relevant and valued by your customers.
  • Sales need a new mission, and it involves creating account-by-account retention plans that concentrate on their unmet needs. Instead of just sending your sales reps in to buy lunches and schmooze just to keep your company’s name in front of clients, take the time and make productive use of it instead.  Start by mapping out where clients’ goals are relative to additional services, knowledge, and expertise your company can provide. If incremental services revenue gets generated, that’s excellent.  The point of this is to develop retention work-out plans on an account-by-account basis so your company stays in the role of serving your clients.  Making contributions, even if they are over and above what is paid for, is what needs to happen on these account-by-account retention plans. 
  • Develop service, product and development strategies that align with account-by-account retention plan needs.  Taking this approach groups the top priorities by account so that when a single strategy, say for example creating programs for enabling them to take better advantage of your products to generate new business, so it can be done once and delivered many times over your customer base.  Taking this a step further, consider how important of a time it is right now to get the knowledge in your company organized so it can be delivered to customers needing to get more from your products.   
  • Staying on target with retention plans is even more important than being tactically efficient right now. In the case studies we’ve gone through in my classes this is the hard part, the area where company cultures really get tested on their commitment to be focused on retention and not fire-fighting.  What needs to happen in this step is to concentrate on retention plans, aggregating together plan requirements and executing on them fast. 
  • Customer-defined outcomes are all that really matter in retention plans, so stay clear of overcomitting. This is one of the lessons learned from P&G and their turn-around several years ago.  Retention plans involving their channel worked because they focused not on the internally-derived project plans but on the timeline that made the most sense for their customers, despite the challenge this put P&G through.  It was worth it however.  P&G held onto their channels in the midst of a major re-organization and also had the ability to launch products globally at the same time with greater accuracy than ever before. 
  • Transaction-driven sales reps must embrace the role of teaching over selling for customer retention to work.  This is the really hard part of any customer retention strategy.  Good sales reps are wired to exceed quotas and spend every waking second thinking about how to accomplish this. Retention plans need to be rolled out so that sales reps see the long-term value of holding onto these customers.  Only then will the hard work and little immediate gratification of commission earned work.  Also, there needs to be a VP Sales-level ownership and support of the program to make such a big cultural shift in a sales organization.


Bottom line:
Retaining customers isn’t about pricing, bundling or gimmicks.  It’s about getting your company so engrained into their unmet needs through the use of retention plans and the excellent execution that your company becomes essential to their success. As rewarding as companies at times find firefighting because of the “quick fix” satisfaction it provides, does nothing to actually hold onto customers.  Investing time in tailoring specific retention plans that deliver results does.

Courtesy – Louis Columbus @ Perfect CEM

Wednesday, November 12, 2008

The Celebration of Guru Purab

On Occasion of Guru Nanak Jayanit most part of India would be celebrate the birthday of Guru Nanak Dev Ji. Hence I would take this opportunity to tell people about what this festival means for the people of India.

The religion of Sikhism preaches that there is one God but that he is formless. That is why the Sikhs do not worship idols. The festivities in the Sikh religion revolve around the anniversaries of the 10 Sikh Gurus. These Gurus were responsible for shaping the beliefs of the Sikhs. Their birthdays, known as Gurpurabs, are occasions for celebration and prayer among the Sikhs.

Guru Nanak Dev Ji (the First Nanak, the founder of Sikhism) was born on 20th October, 1469 in Rai-Bhoi-di Talwandi in the present Shekhupura District of Pakistan, now Nanakana Sahib. The Birthday of Guru Nanak Sahib falls on Kartik Puranmashi i.e. full moon day of the month Kartik. In the Gregorian Calendar, the birthday of Guru Nanak usually comes in the month of November, but its date varies from year to year, based on the traditional dates of the Indian Calendar.

The Festival

The celebration is generally similar for all Gurpurabs; only the hymns are different. The birthday celebration usually lasts three days. Generally two days before the birthday, Akhand Path (a forty-eight-hour non-stop reading of the Guru Granth Sahib, the holy book of the Sikhs) is held in the Gurdwaras.

The day prior to the birthday, a procession is organised which is led by the Panj Pyaras (Five Beloved Ones). They head the procession carrying the Sikh flag, known as the Nishan Sahib and the Palki (Palanquin) of Sri Guru Granth Sahib. They are followed by teams of singers singing hymns, brass bands playing different tunes, 'Gatka' teams (Martial Arts) display their swordmanship, and devotees sing the chorus. The procession pours into the streets of the town which are covered with buntings and decorated gates for this special occasion. The leaders also spread the message of Guru Nanak.

On the day of the Gurpurab, the day begins early in the morning with the singing of Asa-di-Var (morning hymns) and hymns from the Sikh scriptures followed by Katha (exposition of the scripture) together with lectures and recitation of poems in the praise of the Guru. Following that is the Langar or special community lunch, which is arranged at the Gurudwaras by volunteers. The idea behind the free communal lunch is that people should be offered food in the spirit of seva (service) and bhakti (devotion).

Guru Nanak Jayanti is celebrated by the Sikh community all over the world and is one of the most important festivals in the Sikh calendar. The celebrations are especially colourful in Punjab and Haryana.

The article is an excerpt from Wikipedia

Tuesday, November 11, 2008

Four Factors Absolutely Essential for Success

In Business or Life, by Tom Nies, Expert Access

There are four factors, or ingredients, that are absolutely essential for success in any and every pursuit. These four factors, which may be considered like the four points on a compass for success, are:

  1. Desire to succeed
  2. Knowledge that provides the foundational ability to succeed
  3. Behavior - habitual and disciplined behavior that produces success
  4. Love of the pursuit that stimulates and supports the desire for success

Desire

Those who teach the sciences of marketing and sales have long emphasized the acronym AIDA. This acronym stands for Attention, Interest, Desire and Action. It is these four aspects that must be developed if one is to successfully market or sell any idea or product.

Of course, the key idea is desire because it is desire that motivates, or moves, the potential buyer's action to choose and to commit, which wins the sales success. Desire is also the stimulating force that triggers the pursuit of success in any endeavor. As Vince Lombardi, the legendary American football coach, relentlessly insisted,

"You've got to pay the price."

Great companies that succeed will do "Whatever It Takes" to help their customers succeed in their pursuits. These two ideas are, of course, the same; that is, that there is sacrifice or effort needed, indeed demanded, in order to succeed. We must be willing to make the commitments needed to gain the prize sought.

In more recent times, these ideas have been sloganized as "keep your eyes on the prize." But for one to make the necessary sacrifices and efforts, first there must be the desire. And the greater the success desired, the greater must be the resolve. "I want something; therefore, I need to do various things." I want; I need.

All great champions in sports and other competitive pursuits quite regularly and openly say "I want to win." And these great champions are willing to do "Whatever It Takes" (within ethical limits) to accomplish their goal. And, as they achieve successes, these successes not only provide the gratification sought, but at the same time, they stimulate and increase the desire to seek still higher successes, while increasing the confidence needed to seek to achieve yet greater goals.

Knowledge

Just what is knowledge?

Photo courtesy of JV Kua

Simply, knowledge is a body of knowing about a specific focus or discipline. The greater the body of knowing, the more knowledge one is said to possess. This possession of knowing is a key idea. The pursuit of any possession requires an effort, more specifically a human effort. A human effort is one that demands a willful act of free choice.

This free human choice in pursuit of knowledge also infers ignorance. To so focus oneself on one endeavor of interest in order to gain increasing knowledge, one must of necessity ignore, or remain ignorant in, other areas of potential knowledge. So, as knowledge is developed in a certain area of specialized interest, one becomes increasingly more dependent on other specialists who can support or provide for the lacking or ignorance of the knowledgeable specialist in other ignored areas of need. This, of course, implies not only the need for TEAMWORK, but also the realization of one's own limitations and dependencies.

Knowledge Isn't Power

Francis Bacon was a widely respected intellectual contemporary with Shakespeare. Bacon's dictum, "Nosse es Posse," spoken in the Latin infinitive, is precisely translated as "To know is to be able." Unfortunately, this is usually translated incorrectly as "Knowledge is Power." Knowledge really is not power; it only provides the ability to perform, to do, to accomplish, or to have the potential power necessary to achieve or succeed at some task or mission.

Simply said, "Nosse es Posse" means that one is knowledgeable. This word contains three elements: knowing (know), a body of knowing (knowledge), and an ability (able). But we all have known many who may seem to be knowledgeable enough, yet never seem to accomplish very much. We tend to call these people "underachievers."

Of course, teams of people, organizations, and nations too, can be, and too often are, also underachievers. Still, knowledge is necessary to success.

Sun Tzu, recognizing this, taught thousands of years ago that,

"It is foolish to expect success from untalented people."

It is also unwise to expect success from an unknowledgeable person, or team. To be successful, emphasize the pursuit, acquisition, performing and sharing of knowledge.

Knowledge must become activated in order to actualize any potential reality or pursuit. This idea leads directly to the third factor.

Habituated and Disciplined Behavior

Perhaps the reason that so many New Year's resolutions are so quickly broken is that there was never any true resolve in the resolution. The "act" portion of the above words is emphasized to draw attention to the very real demand for human action. All human action demands a combination of the intellect and the will. We must first know what we seek to do, and then we must freely act to achieve this end. Strong actions demand great resolve.

The more consistently we act in a certain way, the more habituated becomes this behavior. But habits, or habituated behavior, can be either helpful or harmful. One who always acts truthfully becomes known as a truthful person; one who even occasionally lies becomes known as a liar. We become as we behave. So, while we possess knowledge, we become accomplished through our actions.

Socrates stated this as follows:

"Act the way you want to be and soon you'll be the way you act."

Again, we become as we behave.

So, to become accomplished, we must behave in a disciplined manner, which becomes habituated. A disciple is one who has learned from a teacher and then consistently and faithfully acts according to these teachings or learned knowledge. Of course, teaching and learning are not the same things. The teacher tries to help another to learn, but the learning is something that takes place within the learner who is gaining knowledge. But learning is not a passive process.

Get Active

At Cincom, we hold "Learning Labs" that seek to both transmit ideas and understandings, but also require labor by the learner. The word Laboratory combines both the ideas of Labor, or active participation, and Oratory, or verbal presentation. Effective and efficient learning requires both teachers and active learners.

cAtive learning is greatly aided and facilitated by practice, discussions, workshops and active interactions of various types. Practice also includes rehearsals and repetitions. These efforts help to clarify and confirm understandings and skills in a safe and non-threatening and less risky environment than does the "real" performance, encounter or competition.

Compete

(Photo courtesy of Konderminator)

It's the same with all other skills.

Our capabilities and mental powers are tested most when they are placed under stress. And like the chain that always breaks at its weakest link, whenever we are weak, we will tend to fail when under stress. Those who fail to prepare are preparing to fail. But while practice may not make perfect, it does make permanent. So, as we practice, it's important to do so under the guidance of or assistance from learned coaches or teachers who can aid and assist accomplishments.

These learning ideas all revolve about the need for discipline. We must study carefully and continuously what we are seeking to accomplish, or become proficient and accomplished in. And it helps greatly to study under knowledgeable teachers who demand disciplined performance. To add to Sun Tzu's dictum, one might say, "It is foolish to expect success from untalented, unlearned or undisciplined people."

Love of the Pursuit

Over the years, I have been blessed with the opportunity to meet and personally discuss their careers with quite a few highly successful persons. One of the key ideas I always pursue is to ask what is it that this person feels was the most important factor in their success. Inevitably, the answer is phrased in the following way:

"One must find something that one truly loves, and then commit oneself totally to that pursuit."

So often and so convincingly has this been said that I believe that one could lay down as a first principle that a deep and abiding love of one's pursuits is the shortest and surest way to attain the end sought, and to gain the knowledge and develop the skills and behaviors necessary for the successes targeted.

(Photo courtesy of Lala Lisa)

Just as one who truly and deeply loves another person always seeks the best interests and happiness of the other, so too does one who truly loves one's profession, or vocation, always seek to honor and fulfill those pursuits to the greatest degree possible. Quite rightly has love been so often likened to a burning fire.

As the fire consumes the fuel, it burns brighter and more strongly. And so, larger fuel can be added to a fire as it grows stronger.

There is no limit to the size or appetite of a fire. Similarly, the more one knows and loves one's pursuits, the greater becomes the appetite for more knowledge, greater challenges and more significant ways to serve one's pursuits. Knowledge, love and service—these three ideas are intimately interrelated. The more one knows another, the more one can and usually does love another. And the more one loves another, the more one seeks to serve and to sacrifice oneself for that other.

It's the same for a pursuit, a career or a vocation.

One simply cannot and will not give oneself totally to anything that one does not truly love. But when one does so love, then one seeks to unite with, or to surrender oneself to, that other person or pursuit.

For example, the professional golfer does not also try to concurrently pursue a career as a tennis player. Rather, the professional wants to give himself or herself totally and completely to that profession. Without the intense focus that total commitment demands, one cannot excel at one's career, profession or pursuits. This intense focus, or total abandonment, and commitment demands a deep and brightly burning fire of love. Those who work only for money may become satiated when enough money is gained. But those who truly love never become satiated. As long as the love grows, the desire to know more and to serve better grows as well.

In the End

In the end, it's not really money that motivates us.

The Olympics, which are built upon the idea of amateur competition, are a par excellence example of the love for the sport being the driving force that knows no bounds. In fact, the word amateur is derived from the Latin word amare, which means "to love." And the more one loves one's work, the more fun it becomes.

Think about that.

We love our profession, it's fun, truly great fun, and besides that we get paid for doing something that we love and enjoy doing.

What more could one ask?

Tiger Woods says "I love golf" as frequently and fervently as he says "I want to win."

These two twin desires are in fact simply different aspects of the same thing—a love for one's pursuits. It's the same with all great achievers. They love, truly love, what they do; and so they want to do what they love as well as possible. The Olympic Gold Medal, or the trophy won, is not the prize; rather, it is the symbol of the prize. That prize is surpassing excellence achieved. And note too that Tiger Woods does not say, "I want to win for the money involved." Even though large amounts of money usually accompany great successes, the money involved is not the primary motivator of truly great achievers.

Conclusion

Top earnings, prestige, celebrity status, the respect and admiration of others—all of these, and more, are by-products or fringe benefits for those who achieve eminence in their careers.

But it is the four factors of

  • Desire
  • Knowledge
  • Behavior and
  • Love

that are the drivers and energies that produce the excellent results that are so universally admired and respected.

Monday, November 10, 2008

The Power of Web – White House 2.0

Get ready for White House 2.0. That's what many are expecting when President-Elect Barack Obama becomes President Obama in January and puts the power of his unprecedented Internet operation to work in the Oval Office.Obama relied heavily on the Web for his victory over John McCain -- from organizing volunteers to fundraising to communicating -- and expectations are high he will turn to the Internet again to further his White House agenda.

"A lot of people are speculating," said Julie Germany, director of George Washington University's Institute for Politics Democracy & the Internet. "Will an Obama administration use its vast back-end system, its database, all of the online communities it developed, to actually mobilize advocacy?"

"It could, for example, email or text message or call people who live in certain districts to get them to lobby their senators and Congressmen on issues that the Obama administration cares about," she said. Micah Sifry, co-founder of techpresident.com, a blog about politics and the Web, thinks it will -- or at least try. "By giving people a sense that they really do have a stake and a say they will be much more motivated to do things in support of his legislative agenda because they'll feel like it's their agenda too," Sifry said. "He is going to learn, either by succeeding or failing at this, that the more he partners with his supporters the more power he will have," he said

"The more he simply tries to push a message at them and make them do something the less power he will have," Sifry added. Obama's first moves after winning the election would indicate that he plans to not only mobilize his faithful but also listen to them.

In an email sent to millions of supporters on election night, Obama thanked those who gave their "time, talent, and passion to this campaign." But, he added, there was still "a lot of work to do" and he would "be in touch soon about what comes next." Change.gov, the official website launched by the Obama transition team on Thursday, invites users to "share your story and your ideas, and be part of bringing positive lasting change to this country."

Under the headline of "Open Government," change.gov urges users to "Share Your Vision" via email and asks them for their email address and zip code, essential elements in building an online data-base. Craig Newmark, founder of online classifieds site craigslist.com, served as a technology adviser to Obama and is an advocate for a more open and responsive government.

"In New York and San Francisco there are so-called '311' programs," he said. "The idea is that it's customer service for local government and if you need a pothole fixed you contact 311. "Well let's start expanding 311 systems to all of government," he said. "There's also the whole transparency thing," Newmark added. "The Internet is all about transparency. The first phase is the election campaign then, afterwards, getting some real grass-roots democracy in there." David Almacy, who served as Internet and e-communications director for President George W. Bush, said the Internet is "a very powerful tool in communicating the president's agenda."

Internet is basically a 24-hour seven-day-a-week spokesperson," Almacy said. "While we're sleeping at night it's still available for those who are searching on energy legislation or the war on terror or the war in Iraq." Almacy, who overhauled whitehouse.gov during his two years in the White House, making it a much more dynamic website, warned though that the Obama administration may find there are limits to how much it can do. For example, "you're not allowed to place cookies on people's machines," he said of the electronic spies which gather information about users. "We had to work within the bounds that we were able to play with."

There might be some people who would be less likely to trust the government as much as they trust their political campaigns," Almacy added. Sifry said Obama "seems to have the right instinct but the proof is going to be in the pudding, as they say, in the details of how this plays out." Germany agreed. "There's a huge difference between being a candidate and actually being in the administration, and a lot changes from the day you win an election and the day you're inaugurated," she said.

Courtesy – Times of India

Sunday, November 9, 2008

Finding New Markets by Tracking Channel Partner’s Customer Satisfaction Scores

It’s time to question the assumption that the largest channel partners and resellers deliver the highest levels of service.  The argument goes that these resellers have the resources, processes, systems and experience to deliver excellent service to every customer, every time. 

Nothing could be further from the truth.

Under attack from their cross-channel competitors and having to routinely sacrifice margins, bundle in services, discontinue unprofitable lines while attempting to stay up to speed with new product introductions and the technologies behind them, the largest resellers often deliver the worst customer satisfaction.  They have too many distractions to find new markets as efficiently as smaller and more focused resellers do.

Channel Loading Now In Progress – What about Satisfaction?

Well into the 4th quarter, these largest resellers are getting loaded up with inventory, motivated by Market Development Funds (MDF), CO-OP Programs, even cash sales incentives taken directly to gross margin, they are doing what they do best: move product. 

Nailing sales quotas is critical right now. Yet so is retaining your brand name and reputation as well, and your customer loyalty above all.  It’s time to start evaluating your channel partners for more than just their ability to move tonnage when it comes to products and more on their long-term ability to deliver solutions that stay relevant.  It’s time to see which resellers can also lead you into new markets too. 


Time to Start Managing Channels by Value

The mid-tier and smaller channel partners and resellers need to be looked at from their contribution to value-added services they add today and have the potential to in the future.  Entirely new market segments, many of them vertical, are being found today based on concentrating on nurturing and measuring channel partners on value, not sales alone.  The 20 year dominance of Printronix for example in bar coding and now RFID is attributed to this strategy.
Concentrating on the value partners are delivering can give you insights into entirely new markets – insights not possible with just a sales volume standpoint.

Getting There from Here

It seems counterintuitive to say that focusing on nothing less that sales results given the economy and all the bad economic news is foolish.  Bet remember that the best performing companies look at these slow times to aggressively invest time and effort to get stronger, more knowledgeable, more agile to capitalize on the bounce-back of the global economy.  The catalyst of this idea comes from the blog post Crisis Advice from GE's Immelt: Stay Committed to Growth. In this blog post is a great quote:

“Keep your company safe but keep building the future.”

Building for the future means getting to the truth of what your resellers are really contributing.  Sure, the largest and best financed resellers can help you slam-dunk your quarterly and yearly quotas. But what about your long-term relationships with customers?  Your brand reputation? Your ability to find entirely new solutions based on the lessons these resellers can give to you? The fostering and nurturing of customer loyalty?  

You’ll never know if your largest resellers are contributing to or detracting from your brand and customer loyalty until you start measuring customer satisfaction.  Consider these potential ideas to gain greater insights into customer satisfaction across your entire reseller base.

  • Getting Your Channels Twitterpated. Get on Twitter and post customer satisfaction surveys often, solicit feedback, and track customer satisfaction by reseller and post it on your Intranet sites.  It will surprise you; often the largest resellers have the worst customer satisfaction scores.
  • Facebook Applications for Tracking Reseller Satisfaction. Go after your customers using Facebook as well, and get them to opt in and provide the best and worst experiences they have had with your products and channels.
  • Look To Your Resellers Who Excel At Customer Satisfaction for new market ideas.  There is an abundance of examples that show how small yet highly focused resellers can give you entirely new ideas of how to find new markets and dominate them.  The slow yet deliberate path of Printronix to dominate the bar coding and then the printing of RFID tags was a 20 year overnight success story.  It all started with resellers who found this market opportunity.


Bottom line:
Get ready for the turnaround by measuring how effective your channel partners are in nurturing customer satisfaction, because in discovering that you will find new market opportunities as well. 

Courtesy – Louis Columbus at Perfect CEM

Thursday, November 6, 2008

Are we at the brink of a new cross channel digital monitoring?

With the experience of working in the digital marketing space and dealing with various analytics reports over the years, an astounding fact still keeps me wondering - how can we be more effective in analyzing the marketing campaigns in the digital space & across various digital channels? Digital space does provide marketers with an enormous opportunity to dig much deeper into the marketing campaigns with the ability to analyze the “traffic”. Analytics and its ability to analyze is one attribute that always attracts me towards the digital marketing vis-à-vis traditional or print media. Mckinsey recent survey suggest that in fact, 55 percent of the companies are cutting their expenditures on traditional media in order to increase funding for their online efforts, compared with only 43 percent of the respondents whose companies don’t measure the impact.

Of course digital media has made enable marketer to build effective and efficient mean to reach its target audience. The same Mckinsey report highlights the most exciting innovations are taking place in three areas:

  • In media planning, marketers have been developing analytics that allow them to compare the effectiveness of on- and offline efforts.
  • They are also developing a better appreciation of how online marketing messages convert shoppers into buyers, both online and in stores, and using these insights to make specific digital-advertising techniques more effective.
  • Third, to target advertising messages with greater precision, a few leaders are learning to measure the ties among people in social networks—something we call the optimization of social media.

The current economic condition and squeezed marketing budget has also been instrumental in leading marketers into this space. Of course by no mean I plan to discount the value of digital marketing space by the economic situation but highlight the importance of building a “window” to effectively monitor & especially cross channel.

The rapid increase of marketer’s dependence on the digital space and enormous growth of online advertising hides a serious challenge: the digital world has developed faster than the tools needed to measure it. Hence would like to recommend a more integrated reporting mechanism or even a “unified” view of traffic. We have been working over the years in the CRM space to build a unified view of our customer, which is wonderful. However with the increase in spending ,and above all the dependence on the digital marketing; are we at a brink of a new stage of evolution in the digital media and its analytics ~ An integrated or unified view of our traffic across channels?

We have various mechanisms to monitor our website, advertisement, registration, incoming/outgoing traffic, regions, and so on. With the explosion of Web 2.0 platforms such as blogs, discussion forums, peer-to-peer networks, and various other types of social media, all of which continue to proliferate across the internet at lightning speed. Now we (marketer) even have to monitor this space. A tool that has really attracted me in the Social Media Monitoring space is Sentiment Metrics . SentimentMetrics locates and stores all the content about your brand, from millions of blogs, popular discussion boards, news and press release sites, and then cleans and analyses the data, presenting it in clear easy to read tables and graphs. Hence for companies struggling with monitoring the social media, this tool is a recommended try.

Coming back, this forces me to think that marketer spend on digital media is increasing every minute however it surprises me when the same marketers does not understand the value of analytics. Still they are happy to see Click through, webhits and so on. But does that provides enough information where you can take or implement decision based upon some serious quantifiable analysis. Unfortunately based upon my recent research and interactions with marketer, the answer is still no or not clear.

We really need to think quick and hard to how we can firstly build an effective mechanism to track and analysis the traffic, because apparently that is the fundamental to any customer, sales, and so on. Secondly we truly require a technological integrated approach to a unified view of our traffic and measure the RCQ (for reach, cost, and quality) of the same. Being hypothetical but optimistic to see the ability of analytics to track the traffic, cross channel and in an integrated manner, not matter is the ads runs on google, yahoo, facebook and so on.

Some think to ponder this weekend. Have a happy weekend.

**The article takes pointers from Mckinsey article ­– “How poor metrics undermine digital marketing” by Jacques Bughin, Amy Guggenheim Shenkan, and Marc Singer.

Wednesday, November 5, 2008

Twitter and personal branding:

This is an interesting article by David Scott about the phenomena called as Twitter. I echo his opinion about some good practices while twitting. His article…

I've been enjoying Twitter and (so far) have managed not to become obsessed. I'll tweet a few times a day and check out others now and then throughout the week.

As you probably know, people use Twitter to keep their "followers" (people who subscribe to their Twitter feed) updated on their life. For instance, you might tweet about the conference you're attending, the project you're engrossed in, or you might ask your network a question. Users can choose to follow the Twitter updates of anyone they want to hear from: family members, colleagues, or perhaps the author of the last book they read.

Twitter has been a valuable personal branding tool for me. I've connected with people who read my stuff, met new contacts, pointed people to my books, and promoted speaking engagements. All for free and in just a few minutes a day.

Many people ask me about Twitter and it's use in personal branding and marketing. But they immediately dive into stuff like "how often should I tweet", "what should I tweet about", "is it cool to DM people" (send direct messages), and other details of using Twitter. Well, that's all fine, but the vast majority of people miss the most basic (and important) personal branding aspect of all.

Interesting?? read more

Tuesday, November 4, 2008

Who is the 44th President of USA?

Barack Hussein Obama II is the junior United States Senator from Illinois and President-elect of the United States of America.

Obama is the first person of African-American descent (he is of multiracial parentage) to be nominated by a major American political party for President, and the first person of African descent to be elected President of the United States of America. A graduate of Columbia University and Harvard Law School, where he became the first black person to serve as president of the Harvard Law Review, Obama worked as a community organizer and practiced as a civil rights attorney before serving three terms in the Illinois Senate from 1997 to 2004. He taught constitutional law at the University of Chicago Law School from 1992 to 2004. Following an unsuccessful bid for a seat in the U.S. House of Representatives in 2000, he announced his campaign for the U.S. Senate in January 2003. After a primary victory in March 2004, Obama delivered the keynote address at the Democratic National Convention in July 2004. He was elected to the Senate in November 2004 with 70 percent of the vote.

As a member of the Democratic minority in the 109th Congress, he helped create legislation to control conventional weapons and to promote greater public accountability in the use of federal funds. He also made official trips to Eastern Europe, the Middle East, and Africa. During the 110th Congress, he helped create legislation regarding lobbying and electoral fraud, climate change, nuclear terrorism, and care for returned U.S. military personnel. Obama announced his presidential campaign in February 2007, and was formally nominated at the 2008 Democratic National Convention with Delaware senator Joe Biden as his running mate. On November 4, 2008, Obama won the 2008 presidential election and will take the oath of office and become the 44th President of the United States on January 20, 2009.

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Further links to know who Mr. Barack Hussein Obama or the new President of USA is :-

Congratulation to Barack Obama for winning the 44th Presidential Election. I hope to add onto the above list after couple of years is - “Barack Obama” report card as President so far?

Monday, November 3, 2008

Too blind to see the writing on the Social Media wall

Wikipedia defines Social Media as primarily Internet-based tools for sharing and discussing information among human beings. The term most often refers to activities that integrate technology, social interaction, and the construction of words, pictures, videos and audio. This interaction, and the manner in which information is presented, depends on the varied perspectives and "building" of shared meaning among communities, as people share their stories and experiences.

Source - HaMeD!caL (Click on the Picture) With its emergence, and high speed evolution has forced marketers worldwide to amplify the growing importance of this new age marketing. I kudos Peter Kim’s work in identifying 300+ organizations and their initiatives in the social media space. Peter’s work could be found here. Additionally Social Media seems to be an evolution that began with a revolution. Authors has already started penning down the idea of next generation social media

Even the current US election was not able to miss the Social Media trail in their campaigns. According to Amnesiablog there was an awesome live integration between Twitter, the US debate and Current.com. During the live broadcast, user comments on twitter were fed live to the video feed. Each tweet then animated subtly and dissolved into the background. Fascinating and a great sign of the future of traditional broadcast and social media. Martin Bowling at search engine people articulates that even the CNN team has several anchors who are & will routinely look to MySpace, Facebook and Twitter for comments, questions, segment ideas or even feedback.

Things like Twitter, a simple yet a powerful tool seems to have provided a new paradigm to how we communicate within a community. Twitting phenomenon seems to be catching like a wild fire. Another example of Twitter and US election is - Zdnet reported on how twitter benefited from US presidential election debates. Twitter usage and sign-ups received a healthy boost during last Friday’s first presidential debate for the 08 campaign. The official Twitter blog reports that, despite Friday traditionally being a slow traffic day:

  • Friday updates jumped 18.5% from previous Friday.

  • Updates during the debate increased 160% compared to same time last week.

  • Signups on Friday were up 23%.

  • Signups during the debate were up 135% compared to same time last week.

This may even forces us to wonder about How social media can help shape society, How Social Media Can Help Your PR Efforts, How Social Media Can Help your Business, Social Media Can Help You Build Better Blog, Social Media Forums Can Help Solve Common Ecommerce Problems, even how Social Media Can Help You Land The Job and so on. The answers are just click away.

Chris Brogan new ebook - Fish Where the Fish Are- Mapping Social Media to the Buying Cycle, on tying social media to the marketing buying cycle provides some interesting aspect for marketers venturing into the social Media space. He has further articulated 25 Ways Social Media Prepares You for the Downturn.  Louis Columbus at Cincom articulates the growth of social media and the proven ability to educate and inform more members of a team than ever before through Wikis, blogs and all other forms of social media needs to be tapped into to make call centers more effective than they are today. His take on mergence of a contact center into the social media stream can be viewed here.

Other attribute that I would like to highlight about Social Media is its ability to connect people without any boundaries, color, creed, religion, rank and so on. Not going much in philosophy, and just to highlight about how Social Media connect - I wrote a post on the weekend, INDIA Calling….are the Marketing Writers listening?, highlighting  about India’s importance for Global Marketing writers. I did mentioned about David Scott’s book and there he was commenting and comforting me with his following comments :

Hi Shiraz, I'm listening.
Wiley India Pvt. Ltd. is publishing a version of "The New Rules of Marketing & PR" for the India market. It will be paperback and at a much more attractive price than the USA import. I am not sure when it will be out.
I have been to India to speak once before and hope to come again upon the launch of my book in India.
Take care.

This not only demonstrates that David does believe and live what he writes but additionally the value of social media. Hence, kudos to him and his book – “The New Rules of Marketing & PR”. It’s surely a good referencing point for all new age marketers.

I am sure the above mentioned example does simply amplifies the importance of Social Media. But as a popular movie saying goes “this is my gift and this is my curse, who am I – I am Spiderman”, similarly this web of Social Media comes with its own set of problems and ramifications. It a true sense, any initiative(s) in the social media evolution, much like any other evolution requires an attribute of being persistently patience by company(s) or individual(s) driving it. However with its emergence on the marketing horizon, can we marketers still afford to blind fold ourselves from the phenomena known as Social Media Marketing?