C-Suite Network™

Menu

Category: Marketing

Categories
Marketing Personal Development Technology

Does Marketing AI Replace People or Enhance Them?

Blame Hollywood. Blame Elon Musk. Blame whomever you want for the wide perception that Artificial Intelligence will put us all out of work. Others say that AI will lead to a life of leisure. Few are pointing out that those two predictions are the same–it’s just a question if you are optimistic or pessimistic.

But it is overly simplistic, because the all-knowing AI presence–Artificial General Intelligence–is so far a figment of imagination. Today, we are benefiting from Narrow AI–machine’s ability to outdo humans at just one thing, such as chess, or Jeopardy or Go. These AI wonders would be left wondering if applied to any other task.

And most AI in marketing is not even as autonomous as the game-playing types that make the news. By far the most prevalent AI in use is “human-in-the-loop” AI, such as semi-supervised machine learning. Rather than the computer doing it on its own, it is human beings that help shape the computer’s judgement. I work with Converseon, an AI-based social listening company, which uses human-coded data to do its initial training for sentiment analysis. But as it makes predictions, it uses its confidence level to decide which calls it is sure of and which ones it will refer to human beings to check. Any corrections are rolled back into the training data to make it even smarter.

That approach is more likely to be how AI is used today. Rather than eliminating people, it needs people to train it and people to correct it. It can outperform people over time, but its initial usage is to augment the performance of people. If you’ve been waiting for AI to wipe out your marketing team, you likely have a long wait. But if you want to use AI to make better decisions, the future is now.

Categories
Best Practices Management Marketing Personal Development

People Want Entrepreneurial Culture!

Suddenly, entrepreneurial culture is in demand by C-Suiters of large corporations. Why? They see small companies doing what they aren’t—moving fast and seizing opportunities. They see more and more start-ups taking industries by storm with innovative products, groundbreaking services, and fresh takes on consumer demand. And they want to do the same.

Large businesses are under pressure from stockholders and board members to make entrepreneurial culture happen, and they don’t understand why that culture is off-limits in their own companies. Slowly, they realize where they went wrong. They learn that their rigid structure, strict processes, and scale of standardization they’ve polished over the years have actually worked against them. Their own employees have become discouraged and disempowered.

An employee can’t be forced to feel inspired and invested, and C-Suiters can’t develop entrepreneurial culture overnight. This takes long-term commitment—it is not a fad or an item on a checklist. The basics of entrepreneurial culture contradict some sacred corporate cows, such as structure, compliance, and compensation. This shift will require you to introduce 3 new wild horses:

  1. Work like a two-division company. If your customer is at the top, how can customer service and sales be at the bottom? No matter how an entrepreneur’s company and office are organized, there is a permeating two-division attitude and structure. These are sales and sales support. Sales is on top, and everybody else works to support sales. This includes production, marketing, and administration. Even the CEO is in sales support. Why? Because every entrepreneur knows that employees are paid by the customer, through sales. To ensure that departments such as marketing and production do their best, keep them informed and in the loop. Sales and customer service know the most about the market, so why not use them to keep everyone relevant and updated?
  2. Pay for performance. This might be difficult for a large corporation to implement. Your employees will be doubtful of this shift unless they are already paid according to performance. But, in order to foster entrepreneurial culture, a portion of their pay must be measured by profitability, growth, and sales. You need to make sure that your employees are driven by much more than a stable paycheck. Paying your employees just for attendance tells them, “Whether or not the company makes a profit, you’ll get paid the same, so relax!” Dedicated members of an entrepreneurial workforce are eager to gamble their pay on personal productivity.
  3. Be mindful of the legal department. Corporations can suffer from the restraint of legal departments. Hidden in their good intentions to protect against liability is a tendency to halt creativity. In our opinion, legal should develop a system where strict compliance reviews simply are not necessary. Part of their pay should be based on growth, sales, and profitability, just like everyone else. Why should their pay stay the same no matter how competitive the company is? Their challenge should not be “Can we do this?” It should be “How can we do this?”

In our book, The Entrepreneurial Culture: 23 Ways to Engage and Empower Your People, you’ll find the tools we used to create entrepreneurial culture at Barefoot. These tools can be applied to corporations of any size. Released in 2014 alongside Jeff Hayzlett’s on-demand C-Suite TV, it is the ideal companion to our New York Times bestselling book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. Check ‘em out!

For more, read on: http://csnetworkadvis.staging.wpengine.com/advisor/michael-houlihan-and-bonnie-harvey/

 

Categories
Entrepreneurship Marketing Personal Development

The 3 Fundamental Abilities Entrepreneurs Need to Succeed

We see it all the time—entrepreneurs become fantasized with their products, and they believe that their ideas alone will make them a riveting success. Tons of great products waste away in warehouses, never seeing store shelves. Founders of start-ups resort to working for their investors, or even worse, closing their doors for good. Their dreams have crumbled, and they’re back living with mom and dad. They’ll ask themselves: Why? Because they didn’t master the three fundamental abilities of a successful business.

  1. Distribution Management: Before your product gets to your customer, you have to get it to market! This is commonly overlooked, but it is perhaps the most important skill a new product creator can have. They are blinded by their product—they think that if it is good and priced right, it will sell. But people want to know why they should carry your product—not why you are selling it. Sales managers want to know how your product will boost their sales numbers, and salespeople want to know what the incentive is. Why should it be stocked on the shelves? And how fast will it turn? Your customer cares about price and quality. Sales managers, salespeople, store retailers, and clerks do not. But, if you don’t meet their needs, your product won’t make it to market. Your product is not nearly as important as its distribution—it can’t sell if it’s not there!
  2. Cash Flow Management: You have to pay your bills! And if you can’t, there are two options: Raise money, or close your doors. But, how do you expect to pay your staff without sales? Many companies attempt to get financing to take care of that, but they may be financed and even refinanced before they can make up the overhead. In this case, they rely on continuous new investment to keep above water. There are a couple of solutions. First, you could make sales your top priority, and sell as best you can in a small territory. Then, use those proceeds to finance growth. Or, you could form tactical relationships with your buyers and vendors. If a vendor trusts you, they’ll help you make ends meet by extending your credit. A buyer who trusts you will pay in cash in order to get discounts, which helps you pay the bills.
  3. Personnel Management: Getting help isn’t easy, but you need it! One of the most valued skills of a successful entrepreneur is hiring the right people. But even when you find the perfect employee, you still have to incentivize, inspire, and properly train them to want to do their best. It’s a lot to ask for, but it is essential to your success. Even creating a compensation system that works can take years of failed attempts. Start with the basics—we suggest you create a bonus structure to ensure sales, development, and profitability. Make sure everyone agrees on the specifics, and make sure they understand how their jobs will contribute. Give a quarterly bonus to each employee, no matter their duties, so everyone feels like they’re on the same team. This builds a foundation for positive company culture.

These 3 fundamental abilities could differ from company to company, but they typically follow the same pattern. Master these proficiencies, and your great ideas will have a better chance at success!

For more, read on: http://csnetworkadvis.staging.wpengine.com/advisor/michael-houlihan-and-bonnie-harvey/

Categories
Management Marketing Operations Personal Development

Eliminate Customer Complaints… Switch Things Up!

“Insanity is doing the same thing, over and over again, but expecting different results,” is a very famous quote by Albert Einstein. If you’re doing something and getting a negative result, it’s probably time to switch things up.

In other words, “Stop it!”

This quote reminds me of a video I saw once on YouTube, called “Stop It!” It features comedian Bob Newhart as a therapist. In the video, a patient comes to see him and explains a recurring fear, of being buried alive in a box, that she thinks about all the time. Remember, this video is meant to be funny. The simple solution he gives her is, “Stop it!”

We can say the same thing about customer service. There’s an exercise I sometimes do when I’m presenting on service where I ask audience members to tell me some of the common complaints they hear from customers. I then ask these same people how regularly they hear these complaints. I am amazed (not in a good way) when they answer saying that they hear some of these complaints daily. Some even say that they hear them several times a day! This is when it’s time for me to share the secret solution. I become serious, look at the audience, and say, “Are you ready to hear the solution?” I pause for dramatic effect, and then I say, “Stop it!”

The seriousness ends when everyone starts laughing. They laugh because they know it’s never that simple. If it were, they would have solved the problem long ago. Even though this is a joke, it is a set-up for a very serious conversation on how to eliminate, or at least minimize, the problems that are causing these complaints.

Is it a common occurrence for us to bother our customers with policies, rules, or processes? Just remember that there’s a good chance that there are more people with the same complaints than just the ones you are hearing from. These people simply aren’t letting you know about it.

When it comes to hearing complaints from your customers, the statistic most commonly shared is this: in an average business, for every complaint you receive, there are 26 others who have the same complaint, but choose not to tell you. Even if that stat is only half true, that’s still a lot of unhappy customers. And these are unhappy customers that you don’t even know about. You think they are happy because they don’t complain to you, but that is the furthest thing from the truth. They may choose to never do business with you again. Can you afford to take that chance?

Sit down with your team. Talk about the common complaints you get. Then, get to the root of it. What is driving that complaint? There is always a way to make it better. Bad things that are happening over and over again simply shouldn’t be happening over and over again. So… Stop it!

 

Categories
Leadership Marketing Personal Development

Do Your Employees and Consumers Share the Values of Your Company?

These days, it seems like every company has their values plastered on a wall plaque for all employees, vendors, and consumers to see. Within these values, companies typically proclaim their morals and principals by way of truthful, positive terminology—words such as “integrity”, “morality”, and “honesty” can commonly be found. While some companies talk about equality, operating for the greater good, or even improving the world around them through these values, people reading that plaque will not be satisfied by such broad terms and goals. Employees and customers need to know that a relationship with your company is simply the right move.

It can be tough—many companies try to avoid political issues to maintain their core values. It’s in their best interest to stay “safe” as to not appear one-sided. Once any issue, no matter how basic, becomes politicized, it is then considered a “political issue”. If a company has some employees whose loved ones would be affected by deportation, for example, they still may stay silent since it is such a sensitive issue.

Can a company really claim they are environmentally friendly if their products are packaged in non-recyclable plastics? Do they exhibit good character if they have a large carbon footprint? Actions speak louder than words. If your company’s actions do not exhibit the same values as your company’s words, it will be tough to justify. You don’t want to be forced to take a stand on an issue where you seem two-faced.

Taking sides is risky, no matter how ethically “good” or “bad” the issue may seem. We made a decision to publicly support such groups whose intentions were considered to hurt the economy. These non-profit conservation groups included The League to Save Lake Tahoe, an anti-water pollution group, The Surfrider Foundation, who cleaned debris from oceanic waterfronts, and the Mono Lake Committee, who supported Mono Lake and Mono Basin’s restoration. Their mission meant a decrease in the greater LA Metro area’s water consumption.

The above issues were “political issues”, and we were told not to take a stance one way or another, no matter how unethical we thought either side was. During the AIDS epidemic of the early 90s, we publicly supported the LGBT community. This time, too, we were warned not to choose sides.

Our risk paid off. History wound up being on our side, but these groups also became promoters of our brand, not to mention devoted customers. Of course, with such a risk, we suffered some backlash. However, over time, the “opponents” on these issues eventually changed their views as they became more knowledgeable. Even if there were some people who didn’t share our views on these marginalized issues, any new product needs customers. Those who stood by our “political views” formed the foundation of our consumer base. They saw us as early supporters.

At the end of the day, as a new business, we couldn’t afford to play it safe. If your company doesn’t speak up about issues concerning race, sexuality, or anything that makes someone marginalized, are you sticking to your core values? Could you confidently say that this is good business? Think about your company’s values. Do your actions reflect them? Etching them on a plaque will not help potential vendors, employees, and consumers understand your true mission, but your actions will. They will want to know whether or not they share your values.

Now is a better time than ever to take a stand on issues that are important, not only to your consumer base, but also to your employees. Why risk losing them, and why risk losing business? Keeping silent will not give you an edge in competition. Taking a risk and taking a stand by addressing “political issues” will show customers and employees that your company truly exhibits its values. What are you waiting for?

For more, read on: http://csnetworkadvis.staging.wpengine.com/advisor/michael-houlihan-and-bonnie-harvey/

 

Categories
Best Practices Entrepreneurship Human Resources Management Marketing Personal Development Women In Business

Expert Advice on How to Negotiate With a Bully

 

“To be fearless against a bully display what he fears.” -Greg Williams, The Master Negotiator & Body Language Expert

 

“Expert Advice On How To Negotiate With A Bully”

Follow this expert advice to negotiate with a bully.

  1. Differentiate between a bully that may be controlling versus bullying. Some people don’t see themselves as bullies. They may be the type that likes to be in control of situations and display overly aggressive means to maintain that control. The two perspectives possess different mindsets.
  2. Identify the personality type of the bully you’re negotiating with (you’re always negotiating). Thus, even in your first encounter with a person (and after that time), you should assess that person’s traits, demeanor, and characteristics. Doing so will give you the insight needed to formulate a negotiation strategy.
  3. Determine the best environment to negotiate with a bully. He may be stronger in one environment as the result of resources surrounding him or those he has to ‘save face’ for; this may also tend to make him cockier than he’d normally be. If that’s the case, get him out of his environment; this should be done physically and/or psychologically. In doing so you’ll dilute his psychological powers and weaken him mentally in the process (i.e. power is perceptional).
  4. If addressing a bully on a one-on-one basis doesn’t achieve your objective(s), marshal forces to use as leverage against him. Depending on the situation, let those that he has more respect for take the lead on your behalf; never let a bully know how strong your forces are. You must be prepared to send in a second, third, fourth, etc., wave that’s stronger than what preceded it. For maximum effect, the timing of your next foray should occur just when the bully thinks he’s squashed your best efforts. In normal situations, over time you’ll wear the bully down and he’ll acquiesce to your wishes. Be mindful of the bully that won’t acquiesce over a period of exhaustive negotiations when forces have been marshaled against him. You might be dealing with a bully that’s willing to destroy himself for the sake of denying you any kind of victory. To prevent from making too many concessions, establish exit points that indicate when you should depart the negotiation. Always be mindful that, the longer you stay engaged in a negotiation, the likelier you are to make concessions to your disadvantage. This is due to the psychological need to see the negotiation to its end. This could be to your severe detriment.
  5. Once you’ve achieved your objective(s), over a period of time reengage the bully from a polite perspective and observe how he interacts with you. To the degree the relationship is important to you, be prepared to let him win an encounter, but never let him bully you again. Your prior actions should be engrained in his mind to the point that he’d not want to experience the prior encounter that you two engaged in.
  6. As further insight into the affects your engagement has had with a bully, note how those closes to the bully engage with you after an encounter. Their actions will allow you to assess the degree of sting that still resides in the bully.

Bullies only pick on those that they perceive to be weaker than themselves. Don’t let a bully perceive weakness in you and he’ll have no target to attack … and everything will be right with the world.

What are your takeaways? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

Remember, you’re always negotiating.

#HowToNegotiateBetter #HowToNegotiateWithBully #PreventBullying

Categories
Management Marketing Operations Personal Development

A Marketing Idea: Deliver Amazing Customer Service

Customer service and marketing have traditionally been viewed as two separate departments, but more and more, their interdependence is coming into focus. It’s even been said that customer service is the new marketing.

Traditional marketing is typically an expensive proposition involving advertising and other ways to reach potential customers and make an impression. The goal is to get them “in the door” – be it in person, on the phone or to your website. However, studies are proving that typical marketing messages are becoming less and less effective, and in some cases, customers are flat-out skeptical.

However, one form of marketing that has proven very effective is word of mouth. Potential customers trust the opinions of their colleagues and friends far more than traditional marketing messages, and that is where customer service comes in. The concept is that if you want more business, and new customers, deliver amazing customer service to your existing customers. Not only will your customers come back, they’ll also tell their friends, colleagues and family members about you.

So, customer service, while maybe not the new marketing, as many are referring to it, has become an important part of any business’ marketing strategy.

My friend Tom Baldwin, former CEO and President of Morton’s The Steakhouse restaurants, believed in this concept completely. When he was at the helm of the restaurant chain, they didn’t advertise on TV or radio or in print publications. He would proudly claim that the restaurant’s employees were the best marketing department. The guests were simply presented with great food and an amazing customer service experience, and they would walk out happy, return for another fabulous meal and tell others about it too.

Another company that builds its marketing efforts around customer service was featured in my book, Amaze Every Customer Every Time. Ace Hardware is a chain of independently owned local hardware stores, many of which compete against much larger “big box” stores such as Lowe’s and Home Depot. The bigger stores, with bigger marketing budgets, spend up to 30 times more on advertising. Yet somehow, Ace is successful, and its secret is simple. Ace amazes customers with its special brand of helpful customer service. Even the traditional advertising that Ace puts out is not focused on the product or the price – it’s all centered around the amazing service that Ace offers.

Zappos.com is another company that promotes customer service as its value proposition. They don’t view customer service as a cost, but instead as an opportunity to amaze customers to the point that they evangelize the company. There are many other places where customers can buy the shoes and other items that Zappos offers, but again, it’s not just about the product. It’s about the promises that Zappos makes and keeps. And that consistency builds trust, and happy customers who tell others about their experience.

Customer service has come to the forefront as companies, large and small, make promises of a higher level of service. There are even awards given to companies that excel at customer service, increasing the awareness of its importance. Customers are more aware and better educated. Now more than ever, customers know what good customer service looks like, and they demand it from all of the places they do business.

Traditional advertising may play a role in getting customers in the door, but it’s not what makes them come back. The customer service that you offer, and how you make them feel, is what brings them back – and their family and friends, too.

And keep in mind that customers who receive bad service will also tell others about it. Or, in today’s social media world, it’s more accurate to say that they will broadcast it. They will share their experience with their friends and colleagues – and the world – via Twitter, Facebook, Yelp and other social channels.

So, as part of your marketing efforts, make the promise of an exceptional customer service experience, and then deliver on that promise so well that your customers not only want to come back, but also talk to others about you. Customer service is not just a department. It’s a smart marketing strategy.

 

Categories
Best Practices Entrepreneurship Human Resources Management Marketing Skills Women In Business

3 Bad Speaking Habits You Don’t Know You Have

If you’re like most people, even if you consider yourself to be a “pretty good” speaker, you know you could always be better. The irony is that, while that’s generally true, you probably don’t realize the actual problems you need to fix.

So let’s turn the microscope to three of the most common pitfalls to effective speaking.

  1. Fillers

We’re all familiar with the sins of the repeated “um,” “uh,” and “like,” “you know” and “I mean,” but fillers get much more sophisticated and subtle.

Words like “actually” and “really” can transform into what I call educated fillers. They seem to fit into the conversation, but repeatedly sneak into speech in places where they have no inherent value. They just chop up the sentence, making it harder for the listener to cognitively process the underlying message.

But where most of us get tripped up is the variety of fillers used. If you alternate between them as you speak, they’re less likely to be noticed… but still detract from the fluidity of the point you’re trying to make.

  1. The Vocal Cliff

The “vocal cliff” is what I call the habit of trailing off at the ends of your sentences. This happens for a variety of reasons. First, we tend to speak in a stream of consciousness, which is full of commas rather than periods. As you’re running along, you run out of air but don’t know where or how to refuel, so your voice creaks its way to a slow, grinding halt, much like if your car ran out of gas in the middle of the road.

Another cause of falling off the vocal cliff is when you’re halfway done with your point but your brain is jumping ahead, cueing up the next point you want to make so you don’t forget it, while your mouth struggles to catch up. Your lack of attention to what you’re currently saying comes through as your voice falls off the cliff. Stay present.

Or maybe you trail off because you lose confidence in what you’re saying after reading some displeased faces in the audience. This causes you to hold back, and you fall off the cliff, which projects your self-doubt.

  1. Negative Facial Expressions

As you listen to people, chances are, you don’t even know what kind of facial expressions you make, but more often than not they can convey negative thoughts. Maybe you’re just thinking about what the person is saying, but your “thinking face” has furrowed eyebrows and an ever-so-slight frown. This leads to two problems.

First, people will infer anger or disagreement, regardless of how you genuinely feel. Second, when you do speak, those down-angled facial features actually flatten your pitch and tone, making you also sound displeased. Even if that’s how you feel, do you really want to telegraph it so transparently? And if that does not accurately reflect your feelings, then you’re sending mixed messages and sabotaging your own credibility.

To avoid any of these pitfalls, awareness is the first and most important step. Don’t assume you know which habits you do or don’t have. Try video recording yourself talking on the phone. When you watch it afterwards, do you hear fillers creeping in, or does your voice fall off “the cliff”? Do you appear anxious or irritated? You’ll be amazed at what you discover, and what adjusting such small behaviors can do for your overall executive presence and leadership image.

********

Do you have questions or comments about your bad habits or how to avoid them? If so, contact me at laura@vocalimpactproductions.com or click here to schedule a 20-minute focus call to discuss them with me personally!

Categories
Best Practices Entrepreneurship Human Resources Management Marketing Skills Women In Business

You Always Have Control

“Change is ever occurring. Thus, you can embrace change and control it, or you will be controlled by change. The choice is yours but if you don’t make a choice, change will make the choice for you.” -Greg Williams, The Master Negotiator & Body Language Expert

www.TheMasterNegotiator.com

No matter what occurs in your life, you always have control. That’s true because you have the power and ability to change anything that doesn’t suit you. That change may be limited and limiting, but there’s a degree that you can influence change, you just have to seek what it is and what it means to change.

So, when you don’t like the outcome of a situation, seek to change it or the way you view it (i.e. change your mind per the meaning it has). Once you realize that you don’t have to be held captive by the outcome that change thrust upon you, you’ll feel better about how you can control the change that has occurred. That will allow you to see the perception of negative change from a more positive perspective … and everything will be right with the world.

 

 

 

 

Categories
Entrepreneurship Management Marketing Personal Development

Strategy and Strategic Thinking

When starting or expanding a business, having a strategy is important. A strategy is simply an action plan. It may be as simple as how will I get my first paying customer or how will I / we penetrate a new market with an existing or new product or service.

To develop a strategy – you need to continually get better at strategic thinking. This simply means how does your community, region, state and the country perceive your product or service. What’s in the news – real or fake – what are people believing and talking about? Understand what is going on around you. Then decide if you want to join in the flow or you want to “go against the grain”. Strategic thinking is what you will build your strategy or action plan around.

Learn for many sources. Ian Bremmer is a great source to learn about global issues, Tom Friedmann has his finger on the pulse of world and the United States politically and culturally, Mark Sanborn helps you become a better leader, NPR delivers great news updates and Ari Weinzweig is the best in the world at helping you develop a vision for your future. And, of course choose your own industry information sources. All this will help you to join in the flow with your startup or business expansion, or to decide to stand out from the competition by going against the tide.

Powered By MemberPress WooCommerce Plus Integration