Monthly Archives: May 2019

Sharing Isn’t Caring

Suppose you are depressed or maybe you want to quit a bad habit – smoking, for example. Well, of course, there are apps to help you fight depression or to quit smoking. Maybe you want a discount on your car insurance so you agree to install what the industry calls a “telematics device.” As one report explained, these things report when the car was used, distance driven, and time spent driving. They also want to know how fast a driver typically drives and any incidents of hard braking, both of which are indicators that the driver takes risks and doesn’t pay attention. Finally, and perhaps most controversially, the devices can track a car’s location.

Since you’re a fairly literate person, digitally speaking, you know the apps collect some data and obviously so does a tracking device. What you don’t know is what happens to the data that the apps collect. If you go through the app’s privacy policies (you know – the thing you clicked through when you signed up), you’ll probably find that the developer might share data with third parties. And, in fact, a study just released shows that of 36 top-ranked apps for depression and smoking cessation available in public app stores, 29 transmitted data to services provided by Facebook or Google, but only 12 accurately disclosed this in a privacy policy.

Does this concern you? It should. It is not difficult at all for someone who has “non-PII” – anonymized personal information – to trace it back to a real person with a name, address, and other information. How many auto insurance companies also offer life insurance? How many share data – even anonymized data – with health insurers. And wouldn’t those health insurers love to know if you think you’re depressed, as would a life insurance company? Am I paranoid? Yes indeed, and you should be too.

As it turns out, while many of us are more wary about what companies are doing with our data, we’re still not DOING much about it. As eMarketer reports, Internet users are clearing cookies and sharing less on social media. Ad blockers continue to gain popularity. But nearly one-third of US internet users are still willing to sacrifice privacy for convenience.

Clearing cookies, using a VPN, making sure that apps don’t get permissions that they don’t need (why does a flashlight app need your contacts?), and other things can help but at the core of this issue is many companies’ philosophy to beg forgiveness than to ask permission. They have a laser-focus on making money and are woefully blind to their users’ concerns. That’s what really concerns me. You?

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Filed under Helpful Hints, Huh?, Reality checks

Balsamico And Business

The question, this Foodie Friday, is have you ever had true balsamic vinegar? Not the junk they sell at the supermarket that’s probably made outside of Italy, but true balsamic vinegar that bears a D.O.P. stamp, a European Union certification that guarantees an ingredient’s quality, production, and place of origin. In the case of balsamic, it must be made in Reggio Emilia and Modena, Italy, using traditional methods, and production is overseen from beginning to end by a special certification agency.

I won’t go into detail about the process, but the key takeaway for today is that it takes a long time to make. Like a dozen years or more. Every step of the way, the amount of vinegar in the barrels is reduced as the product concentrates. You need to take the long view of what the business will be if you’re going to start producing this stuff! It requires patience, resilience, capital, commitment, and much more.

The same can be said about a winery. Planting vines, getting them to produce, bottling and aging all take time. You need to think long-term. I think the same sort of thinking is involved when you go to make some dishes. Great barbecue takes a long time. So does a great Bolognese Sauce (even with a pressure cooker – believe me, I’ve tried!).

Whether it’s Balsamico or business, there are no short cuts. Great things take time, generally more than we’d like. As we often see in today’s world, moving fast and breaking things often results in a disaster even as the company expands rapidly. The fall is often as fast as the rise.

Maybe my thinking is more tortoise than hare, but I’m a believer in taking the time to get things right. I play the long game. As with balsamico, you need to commit to the process, as do all the stakeholders. There’s a reason the good vinegar sells for $200 an ounce, and once you’ve experienced it you’ll understand the difference between it and the $16 bottle you get at the supermarket. Greatness takes time, both in the barrel and in business, right?

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Filed under food, Thinking Aloud

Masking The Message

Chase Bank did something really dumb the other day while they were actually doing something smart and necessary. It’s a good lesson for any business that how you communicate is every bit as important as what that communication entails.

Chase tweets out something on Mondays hashtagged #MondayMotivation. This week they attempted to inject a little humor into something that really isn’t humorous for the folks who face it: a depleted bank account. Chase tweeted out a fantasy dialogue between a consumer and their bank account. The customer wonders why their bank account is so low and the bank account replies, and I’m paraphrasing, because you spend money on things like buying expensive coffee and dining out and taking taxis when you could walk. The customer replies “I guess we’ll never know”. It came across as snarky and patronizing, especially coming from a bank that makes millions in profits on the fees charged to their customers for ATM use and overdrafts (not to mention a multi-billion dollar bailout from taxpayers).

Politicians jumped in, as did a lot of pundits. Frankly, when I heard about it and the responses to it, I thought it was too bad that a good, important message got lost in a bad presentation. Many younger consumers (and quite a few older ones) don’t realize that making coffee at home can save them hundreds or thousands of dollars a year, as can walking and bringing lunch to the office or learning to cook at night. Those $4 lattes add up and many younger people never learned the financial management skills as they matured that one needs to cope with the money demands that adult life makes. While I don’t discount the effect that stagnating wages and creeping inflation have, having the skills to think through the bigger picture can help.

Any business needs to ask itself “what baggage do I carry” before they message their customer base. Are they angry about anything? Smart businesses constantly have their ears to the ground to listen for any disruption in the force. They monitor social media, their own customer service reps, and the news media generally. Money, or the lack thereof, is one of the most sensitive topics the bank could have addressed. Snark, condescension, and arrogance are rarely the right approach, even when the message is spot on.

Chase was smart enough to delete the tweet and replace it with something humble – “Our #MondayMotivation is to get better at #MondayMotivation tweets. Thanks for the feedback Twitter world”. That’s something every business should constantly try to do – get better – don’t you think?

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Filed under Consulting, digital media, Huh?