Tag Archives: Strategic management

Substitutions

This Foodie Friday I’d like to talk about something I hope you have handy in your kitchen: a table of substitutes. There is nothing worse than doing your mise en place and realizing that you’re out of something you need for what you’re making. Maybe it’s sour cream for a dip you decided to whip up to watch TV (use plain yogurt – Greek if you have it!). Maybe you need some buttermilk but only have regular (combine a tablespoon of an acid – lemon juice, vinegar – and enough milk to make a cup). How many large eggs can I substitute in when the recipe calls for jumbo?  Even understanding how to substitute dried herbs for fresh is important (use 1/3 as much dried as fresh). Having a list of things which can serve as alternatives is very handy and can often save a dish.  

We need to do that in business too. When we don’t have the proper things for what we’re trying to accomplish, we need to figure out substitutes. Maybe the higher-ups aren’t giving us the resources we need or maybe the budget isn’t big enough to cover the project at hand. We need to think about alternatives and reframe the problem. Maybe there are exceptions to what we perceive as the norm – organizations who have faced a similar challenge. Can those exceptions point us in another direction?

There are some things for which there are no substitutes.  Good people, for one, and smart, out of the box thinking for another.  I realize that you can’t cook a piece of chicken and call it beef.  Then again, you can substitute turkey for veal in some dishes so maybe chicken for beef isn’t so far-fetched.  That sort of thinking is something in which every organization needs to engage.  What business model can we substitute for our own if things begin to fall apart?

My table of substitutions is tucked away in a kitchen drawer and I rarely need to use it.  I used to have one for my business tucked in a desk drawer – people I might want to hire, companies to replace current partnerships if they fell apart.   Where is yours?

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Filed under Consulting, food

Coleridge And Your Data

Someone probably made you read Samuel Coleridge‘s Rime Of The Ancient Mariner along your educational way. It contains a couplet that got me thinking about data:

Samuel Taylor Coleridge

Samuel Taylor Coleridge (Photo credit: Wikipedia)

Water, water, every where,
Nor any drop to drink.

We spend so much time collecting and attempting to analyze data and yet it seems difficult to “drink” from the overwhelming amount we have.  I wonder if we keep an eye on the reasons why we gather data in the first place.  In my mind, there are  two main reasons to collect data:

    • To form actionable business questions
    • To measure how where we are today is different from where we were yesterday

Let me take a second to discuss them.  When we gather information from a customer or potential customer, we should always have a reason for doing so.  Otherwise we’re just filling up our data storage with bits we’ve got no need to store.  A recent IDG Connect study found that the biggest hurdles facing companies in terms of data were poor data quality and excessive data, so we need to think before we gather.  Some of the information they will give you (name, email, maybe a physical address); other information you’ll take yourself (usage patterns on the web and/or mobile, information our of social profiles, etc).

We ought to be using some of that data to educate our fans about our brand and industry.  That falls under the “actionable” category.  What results do we want from them?  How can we tell if we’re moving the needle?  One big day of traffic might be an aberration but trends tend not to lie over time.  I like this quote from the report:

The true value of Big Data is in the ability to leverage it for development of an informed strategy. Organizations need to move beyond a focus on just managing data to extracting trends and insights that will drive business outcomes.

So if you’re feeling overwhelmed by the amount of information you have, you probably have too much.  It’s probably not properly focused.  We need to collect as little data as possible – it’s much easier to drink a glass of water than an ocean.  It should be just enough to generate insight and not enough to foster confusion.  Which are you doing?

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Filed under Consulting, Helpful Hints

Lightening The Load

If there is one thing that seems to have happened over the last 15 years, it’s the growth of ADD.  That’s right – it seems as if most of us have some sort of Attention Deficit Disorder which manifests itself via an inability to stay focused and patient as we use our devices.  After all, what’s more frustrating than clicking on a link and waiting and waiting and waiting for the page to load?  Sometimes it’s due to a lousy connection to the internet.  Most of the time, however, it’s probably due to how the publisher has built the page.  I can hear you muttering that “he’s gone all wonky today” but stay with me.  There is a broader business lesson here.

Web pages are a series of elements.  The page code processes them and does everything from display pictures to send analytics data to a server  to format text to pull ads out of a marketplace.  Each of these things takes a little time and the more of them there are, the longer it takes the page to load.  Graphics intensive content – slide shows, autoplay videos, etc. – take a VERY long time to get ready.  I think part of why people use ad blockers is because they very often cut load times substantially.

GQ, according to an article I read in Digiday, focused on decreasing page load times.   Maybe that was less convenient for their writers or editors, but they decluttered their article pages, moved to a unified content management system, and did some other things that resulted in an 80% decrease in page load times.  That focus on their reader has paid off:

For GQ, having a faster site, along with features like new article pages and article recommendation widgets, has paid off in helping audience growth. Traffic jumped to 11 million uniques in July, the first full month of the relaunch, from 6 million in June, per the site. (Those are the site’s internal Omniture figures; comScore’s July numbers weren’t available at press time). Median time spent on the site rose to 7.8 minutes in July, from 5.9 in June. The benefits have extended to advertisers. With people spending more time on the site, along with bigger and repositioned ad units, the interaction rate on ads rose 108 percent.

The lesson for any of us is that staying focused on the customer experience pays off, sometimes in ways we don’t anticipate (who would have thought ad interaction would rise!).  Maybe lightening the load made their wallets heavier. Not a bad tradeoff, right?

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Filed under Consulting, digital media