Tag Archives: business thinking

The Boss And Your Consumers Are Thinking Alike

Part of what my clients pay me to do is to make connections.  Sometimes that’s in the literal sense – an introduction.  Most of the time it’s in the sense of making connections among seemingly random things – putting pieces together to form a coherent picture.  This morning, I’m getting ready to go see another Bruce Springsteen show – anything worth doing is worth overdoing, right? – and I came upon two pieces that seemed to fit together so I wanted to share them with you.

Bruce Springsteen (with Max Weinberg in backgr...

Bruce Springsteen in concert (Photo credit: Wikipedia)

The first is an excellent article from The Nation about Bruce’s political voice – where it came from, how it’s grown, and what it’s saying now.  The second is a piece of research about socially conscious consumers.  Now as you know, we don’t do politics here so there is an important business point both pieces make and that’s what I want to share today.

The Nation piece says the following:

Springsteen began to ask questions of himself about what really determined the contours of the lives of the working-class characters whose tribune he had become. “A lot of the core of our songs is the American idea: What is it? What does it mean?

Speaking to reporters in Paris on the occasion of (Wrecking Ball’s) release, he made the album’s inspiration—and intention—explicit. “The genesis of the record was after 2008,” he told a group of reporters there earlier this year, “when we had the huge financial crisis in the States, and there was really no accountability for years and years. People lost their homes, and I had friends who were losing their homes, and nobody went to jail. Nobody was responsible. People lost enormous amounts of their net worth. Previous to Occupy Wall Street, there was no pushback: there was no movement, there was no voice that was saying just how outrageous—that a basic theft had occurred that struck at the heart of what the entire American idea was about. It was a complete disregard of history, of context, of community; it was all about ‘what can I get today.’ It was just an enormous fault line that cracked the American system wide open.”

In other words, Bruce has done what most great artists do:  reflects his times in a timeless way.  We could digress here and look to the Occupy movement, the current presidential campaign, etc. but you figured that out already.  As it turns out, many forward-thinking companies have as well.  The second article is about a Nielsen study about how companies and consumers are becoming much more socially conscious:

The survey confirmed that the majority of consumers express a general preference for companies making a positive difference in the world. 66% of consumers around the world say they prefer to buy products and services from companies that have implemented programs to give back to society. That preference extends to other matters as well. They prefer to work for or invest in these companies. A smaller share, but still nearly half, say they are willing to pay extra for products and services from these socially conscious companies.

So today’s point is this:  while doing well by doing good isn’t a mandate, consumers are paying attention, and if your business isn’t, you might be falling behind.  To paraphrase Dylan, the times are a-changin’ yet again.  I’ve pointed out before that marketing today isn’t about you but about us – your consumers and our connections to your business.  That outward focus needs to mirror the concerns and solve the problems of your customers, who clearly are more socially conscious than they’ve been.

Those are how these pieces connect in my mind – how about in yours?

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Getting Engaged

I’ve been married a very long time (33 years and counting, thank you) but I still remember getting engaged.  I have no clue what it’s like today, but it used to be a big deal and there was a ritual to be followed (I still thank my lucky stars that her father was way easier on me than he should have been…).  I spend a fair amount of time these days talking about getting engaged except it’s not with my daughters (statement of fact, not a complaint!).  Instead, clients and I talk about “getting engaged” with their consumers.  The thought struck me that it’s not all that dissimilar.

Three stone engagement ring - in yellow gold -...

(Photo credit: Wikipedia)

An engagement is a commitment in either sense of the word (marriage or otherwise).  The only way one partner can figure out if the other is worth spending a lot of time with is to engage one another in dialog.  You know –  appropriate questions, thoughtful, honest answers – a dialog.  Obviously, you can’t spend your time telling your prospective partner how great you are.  Things go a lot more smoothly if you spend a fair amount of time telling them how great THEY are.  While it’s important to keep your own goals in mind, you can’t be a crazed egomaniac if an engagement is your objective.

The hard part is listening.  As marketers and content producers, we tend to put out a lot about ourselves and don’t take in enough about our potential customers.  As an aside, we do the same as managers in a lot of cases – “jobs” are often known as “engagements” after all.

We need to woo our customers, our users, our clients  – whatever you want to call those who pay the bills – as we would a potential spouse.  That’s the only way to get engaged.  Hey – who says romance is dead!

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Taking An Unplayable

The things we learn from golf!  I know, I’ve written about that before, but yesterday’s conclusion to The Masters provided such a great example as to why the lesson of the golf course apply to the world of business.

I’m talking, of course, about Phil Mickelson‘s decision-making on number 4. For those of you who didn’t see or haven’t heard about it, Phil was at the top of the leader-board when he hit an errant shot on a par 3. His error was compounded by the fact that it hit a grandstand and bounced further away from the hole. In fact, it wound up in some thick brush. This piece provides a good overview.  For you non-golfers, when your ball winds up in a place like this, you can do one of four things:  Play the ball as it is or take a penalty stroke and use one of three options under the “unplayable lie” rule.  In Phil’s case, two of the three options weren’t available to him – it’s too long an explanation for this space – but the third one – replay the last shot from the previous spot certainly was.  That would have been back on the tee, hitting your third shot (on a par 3) into the green.

San Diego's favorite son pitches one of only a...

(Photo credit: Wikipedia)

Phil elected to play the ball as it was and ended up making 6, and given where his ball was that was about as good a score as he could have expected.  His decision-making process is a great business example.  Phil elected not to cut his losses (take the penalty and start over) and I think it cost him the golf tournament.  This is the same guy who lost the U.S. Open a few years ago making exactly the same decision – try to hit an impossible shot instead of cutting your losses.  Obviously he won The Masters a couple of year back trying and making a difficult shot onto a par 5 from the trees (no, golf is not played in the woods – some of us just go there a lot).  In some ways, that just reinforced what is generally not the best course of action.

None of us like to admit that we need to take the hit and start over.  Most of us talk about “throwing good money after bad” as a negative.  The hard part is stepping back and assessing the situation without emotional involvement about all you’ve invested so far.  You need to build in decision points and discuss where you are with others and adjust the plan.  The caddy is out on the course not just to lug the golf bag and whether it’s in-house staff of consultants like me, someone needs to help make the decision to take the unplayable and live to fight another day.

What do you think?  How do you know when it’s time to go back to the tee or when trying to stick it out is the best course of action?

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