frank's blog

Must Read “Nike’s New Marketing Mojo”

Posted in design, ideas, inspiration, Media, quality by aldorf on March 6, 2012

Nike has always been at the forefront of cutting edge philosophies in the world of design, execution and marketing. One of the most innovative in recent memory was the establishing of Nike Digital Sport in 2010, whose aim was to develop devices and technologies that allowed users to track their personal statistics in any sport in which they participated. For those interested in Nike’s marketing philosophies, head over to Fortune to read the fascinating article in its entirety.

“The New Normal” by Peter Hinssen [Video]

Posted in ideas, internet, quality by aldorf on August 10, 2011

The idea behind the New Normal is quite simple: ‘We’re halfway there’. The New Normal is about all things we call ‘digital’, and in the digital revolution we’re probably only halfway there. That means we have as much journey ahead of us as we have behind us.

 

In The New Normal Peter presents how companies may address a society without digital limits. Quite poignantly, Peter points out that organizations are increasingly faced with customers and consumers who no longer tolerate limitations in terms of pricing, timing, patience, depth, privacy, convenience, intelligence. A number of new rules will apply in the New Normal. Consumers will have zero tolerance for digital failure. They will expect to get internet access anytime, anyplace. Internet and connectivity will be just as ubiquitous as electricity. Consumers will demand fulfillment of their information needs instantaneously. The effect on companies will be tremendous. They were just getting used to coping with an 24 hour economy, and now they will have to cope with the ‘experience economy’: customers will demand interaction with providers of services and products on their conditions. They will expect the digital user experience to be easy and interesting. Every interaction with a customer must be viewed as a ‘make or break’ moment for the relationship with the customer. IT departments too will have to adopt a new way of working. They will have to react more flexible to the demands of the business side of the company. IT-departments were used to build big systems, now they will have to create small, flexible structures that can be adapted quickly. They no longer have to build pyramids, they must put up tents instead. In The New Normal, Peter Hinssen looks at the way companies have to adapt their information strategy, their technology strategy, their innovation strategy and the way they are organized internally. This book is an interesting read for any manager who is concerned with the future of his company as it is hit by the digital revolution. (via Peter Hinssen.com)

College Kids Research On How Social Media Can Be Used Effectively

Posted in blog, ideas, internet, web, your take on... by aldorf on March 9, 2011
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Image via Wikipedia

Last year, Sprint gave students in a marketing class at Emerson College 10 smartphones with unlimited wireless access. In return, Sprint received free marketing work for their budding 4G network in Boston from students who blogged and tweeted, and more importantly were able to record firsthand how social media could be effectively used at the company.

Unbeknownst to many, companies have increasingly turned to universities for research on social media. This isn’t highly unusual, as traditionally manufacturers have given financial support to universities conducting research relevant to their companies. In the past though, support has been given to “hard” sciences, for example to the research of pharmaceutical drugs. Companies had never partnered with universities to better understand social media.

However, this appears to be changing. Programs at Northwestern, Emerson, Arizona State, and the University of Florida have been partnering with businesses to specifically research how social media can be used effectively. “It’s allowing for a new kind of research that just wasn’t even possible a few years ago,” says associate professor Dmitri Williams, the Wall Street Journal reports. In a world where social media continues to be a buzz word, businesses are looking for every advantage they can get.

As an example of how social media is being examined, the Wall Street Journal reported that at one class at Arizona State University, the students divided into teams to generate buzz around FoxSportsArizona.com. Fox Sports Net, a group of regional sports channels, will be working with 10 schools as part of a program it calls Creative University.

Despite the successful results from the companies thus far, is it a good idea for companies to conduct social media research at the university level?

Although there are advantages, as seen above, there are hidden costs as well. The time needed to establish a partnership with a program and the commitment the company gives to a university and its students; these may not always be financially related, but they are important nonetheless. Even with this commitment, in return the company would receive students who spend a limited amount of time per week on the project and who have multiple sources competing for their attention. As creative as students can be, they are not working 9AM to 5PM on these projects.

The lack of time and attention is particular true in the examples above, where businesses partnered with undergraduate programs. Traditionally, companies that have lent financial support to “hard” sciences have supported graduate programs, namely PhD students, and these students, in addition to having more time to spend, are under strict supervision. A PhD student, it could be argued, is more similar in their commitment to a project to a full-time employee than to an undergraduate student.

There is no such thing as a free lunch, and perhaps the costs, hidden or explicit, of conducting social media research at the undergraduate level outweigh the benefits. (via socialbeat)

 

How To Pitch Your Company Idea In 5 Minutes

Posted in ideas by aldorf on August 20, 2010

How is your company pitch?

If you are able to sell your company idea in 5 minutes you have much better chances in today’s competitive funding climate. You need to make your point fast, elegantly and succinctly.

To check how good you pitched your idea just answer these simple questions: Was my audience inspired? Are they able to acurately re-tell my story?

1) Be clear and candid about how your company will achive success in the face of competition. Be honest with yourself. You can have a compelling presentation even if your company isn’t  a “one and only” unique idea. By proactively addressing foreseeable roadblocks your company may face you gain trust and build credibility.

Critical questions to answer during your presentation include:

a) What is the company vision?

b) Do you have a five-year plan in place? If not, a concrete vision for the immediate future and why it’s crucial for the current market will do it.

c) What is the problem being addressed? What’s wrong with the status quo and without your product, how are people operating today? Use real world examples and sound bites that make your product memorable

d) Where does your company fit in the market? Regardless of whether you offer a physical product, a software feature,

application, or platform, you should candidly define that market reality, and present sales and marketing plans to back up

your model. Why will you win versus the competition? If you win, who loses or what changes?

2) Present the facts. Crucial to include: overall market size for your product today, list of competitors, your basic business model, how much funding you have raised (if any), names key team members and micro-bios

3) Be passionate. Tell your story with emotion and energy.

The Basic Pitch Outline

Following is a sample outline many successful startup presentations follow. To make it work and worth 5 Minutes use short video clips, images, graphics, and minimal text. You should mostly speak to each of the points below, using graphics to reinforce your spoken words.

Headline (your vision)

Company Purpose (short and sweet)

Problem (customer pain)

Solution (value prop to customer – great to add real customer stories)

Why Now (history and evolution)

Market Size (who are your target customers)

Competition (honest list)

Product (description and road map)

Business Model (revenue, pricing etc.)

Customer Acquisition plan (marketing and sales)

Team (founders & management)

4) Just five minutes to stand out from the other presenting companies!

5) Best company pitchmen aren’t salespeople. They are great storytellers!

(by Chuck Dietrich CEO of SlideRocket via VentureBeat)

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