How Your Business Will Profit from Innovative Collaboration

Drive Strategic Collaboration

Imagine a world where your customers want your organization to succeed. Where your employees are personally committed to your company’s success. Where your organization is not focused only on its own results, but on a collaborative effort that spans a community and beyond.

David Nour’s new book, CO-CREATE: How Your Business Will Profit from Innovative and Strategic Collaboration, takes these dreams on as he explores ways to drive strategy and innovation. His new work challenges us to think about relationships in a completely different way. I recently asked him about his work and new book.

 

“Your brand identity is beyond your control.” -David Nour

 

Co-creation. Share with our audience what it is and why it’s important.

It means collaborating with your most valuable business relationships to transform your business or revenue model. It can drive how you iterate, innovate or disrupt your market and in the process, evolve far beyond anything you could do alone.

 

“Introspection leads to right action.” -David Nour

 

You start the book by saying that, “Introspection leads to right action.” What’s the best way to do this?

Real introspection takes three critical elements:

  1. Think Time – Unfortunately, given the hectic pace most of us work these days, we don’t get enough quality think time to set the minutia of the day aside and really consider our relevant strengths and strategic relationships, as well as personal or professional growth opportunities.
  2. An Inner Circle – We need to surround ourselves with fewer, but more authentic and impactful, business relationships. Most of us could dramatically benefit from fewer partnerships and alliances and more thought partners who will tell us what we need to hear.
  3. Leading Drivers – We can’t raise the bar on our intellect, performance, execution and results… if we don’t measure leading drivers of our progress—not lagging indicators of where we’ve been, but predictive insights toward where we’re headed. You can’t win a race looking in the rear view mirror. Focus your energies on the road ahead.

 

Stay In Tune With Your Customers

Fuel a Lifelong Love Affair with Your Customers

The Transformational Consumer

It’s time to rethink what you sell. And your customers. Don’t forget to rethink your marketing, your competition. And, don’t forget your teams.

That’s the message from Tara-Nicholle Nelson, author of The Transformational Consumer: Fuel a Lifelong Love Affair with Customers by Helping Them Get Healthier, Wealthier and Wiser. She is the founder of Transformational Consumer Insights and the former VP of Marketing for MyFitnessPal, where she led the team that grew the platform to over 100 million customers.

 


“The best..measure of innovation is change in human behavior.” -Stuart Butterfield

 

The Growing Demographic

What are Transformational Consumers? How is this changing company strategy?

Transformational Consumers are a massive and growing group of people who see all of life as a series of projects to change their own behavior for the healthier, wealthier and wiser. They know that this behavior change will be hard, but they believe with all their hearts that it’s possible, and they believe that they can change anything about their lives if they can master their own habits and behavior.

So they are constantly on the lookout for products, services and content they think might help. They are early adopters, and they tend to have great influence on the buying behavior of the people around them.

I like to joke that if you have ever been vegan and paleo at different times in your life, you’re probably a Transformational Consumer. Most entrepreneurs are Transformational Consumers. The head of product for Airbnb once told me that they see both their hosts and their guests as Transformational Consumers.

One important takeaway here is that this is not a niche: over 50% of US adult customers we surveyed said that they use digital or real world products several times a week, or more often, in an effort to reach their healthy, wealthy, wise goals.

The power of this framework is that it offers businesses a lens through which to more powerfully understand the real-world journeys their customers are taking as they aspire to live better lives. And that shows you how to increase customer engagement, brand love, loyalty and repeat business, as well as reach new audiences. Once you understand your real-life customers’ real-world journeys, that surfaces limitless opportunities to innovate new products, features, services and even marketing messages and content that remove resistance points and trigger progress along customers’ paths.

 

Rethink Your Customer

How do companies go about rethinking their customer?

Your customers are not just the people who currently buy your product or your current social media followers. I urge companies to shift to the point of view that their customers are all the people out there who are struggling with the high-level, human problems that the company exists to solve.

Go out into the real world, do customer research, watch how people operate in real life. You can even start this process by just doing some online listening on the blogs and social media sites (not your owned channels) that your audiences frequent online (reddit, etc.).

Your goal is to understand and, ideally, visually map out your customers’ real-world journeys of going from having the problem you exist to solve to no longer having that problem. You need to know what stages they go through along their journey, what gets them stuck and unstuck, where they go to do research when they need to know or find something and what words and phrases they naturally use as they try to reach their goals.

 

 

Remove Resistance

Tell us more about resistance. How do you remove it?

Think about it: Anytime you try to level-up your life, whether it’s trying to reach a weight loss goal, to work out more, or to start a side business or meditate every day, there’s a force that pops up in all of us that Steven Pressfield and Freud both call Resistance. It’s the same force that creates procrastination, causes us to get distracted or to sabotage ourselves. It’s generally the force that makes it really, really hard to make behavior changes stick.

In your customers’ journeys toward their healthy, wealthy and wise goals, Resistance includes any sort of quit point, obstacle, friction or common point of failure. These are the things that get people stuck. There are tons of spiritual, emotional, psychological and neurological root causes of Resistance, but suffice it to say that people often know what changes they need to make; they just find it very difficult to actually make them.
This creates a major opportunity for companies to win the love of the people they serve by focusing on removing Resistance.

You can remove Resistance from your customers’ journeys by creating features and products that take friction out of their path, by reducing the difficulty or cost or number of brain cycles they have to go through to create the habits or changes they want, or by inserting progress triggers into their real-world journey.

For example, at MyFitnessPal, we learned during customer research that one of the biggest obstacles (points of Resistance) that people experience along their journey from living an unhealthy life to living a healthy one is the cost of eating healthy food and the difficulty and time involved in cooking healthfully. So every team in the company explored how they might help remove those Resistance points. When it came to content, for example, we created all sorts of recipes and meal plans for feeding a family healthy, home-cooked food on the same budget we learned people were spending on a fast food family dinner ($20). We also created all sorts of video, recipe and meal-planning content to reduce the time and increase the ease and deliciousness of our customers’ home cooked meals.

 


“If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right.” -Jeff Bezos

 

Rethink the Competition

Prepare Your Brand for Unpredictability

Become a Free Range Brand

For many years, the big brands dominated powerfully over all. Little-known brands struggled to be noticed, hoping for shelf space or a PR miracle that would catapult them to the top.

That’s all changed now says Nicole Ertas, who argues that it’s easier for a challenger brand to gain a following even without the massive marketing budget of the biggest players.

Good news for the smaller players and for personal branding, too.

With little money and recognition, how do the challengers gain traction?

And what must the big names do to respond?

 

Nicole Ertas is the founder and president of The Ertas Group and author of Free Range Brands. She has helped build some of the world’s most influential brands. I recently asked her to share her branding insights.

 

“Authenticity can’t be claimed on the surface, it needs to be practiced.” -Nicole Ertas

 

Design for the Unpredictable

What is a Free Range Brand?

unnamed-2The big legacy brands we’ve known forever were built in an era of one-way, controlled communication.   TV, print, radio, retail distribution were all very controlled and well planned by big brands with big money, locking challenger brands out.

But today, not only have the barriers lowered for the challenger brands, these brands are able to engage communities in ways the big brands don’t know how.  The big brands aren’t set up for this and are quickly losing relevancy.

The brands that are thriving in this new world have made the shift from the old-world model of planning for control to the new world model of planning for unpredictability.  In fact, they are designed for unpredictability.  They are set up to let go.   I call these the Free Range Brands.

 

“A brand must be timeless and trendy at the same time.” -Nicole Ertas

 

Transform Your Brand

How can a brand set itself up to navigate unpredictability and become more relevant?

Today’s consumers demand brands that embrace an unwavering authentic core, but in a hyper-relevant way.  This essentially means that a brand has to be timeless and trendy at the same time.  Unchanging yet reimagined constantly.  This is what the old-school marketing models don’t account for.

The shift to going Free Range is simple, but strategically profound.   It requires transforming your Brand Equity to Brand Currency. Free Range Brands trade in Brand Currency.  This is the new mode of engagement, and one that is true to what a brand stands for.

Brand Currency is the dynamic offspring of Brand Equity. It allows your brand to reinvent itself to become relevant without losing its authenticity. By transforming Brand Equity into Brand Currency, brands become agile in an unpredictable marketing environment where leaders need to make decisions quickly without jeopardizing brand value.

 

“Brand currency is the dynamic offspring of brand equity.” -Nicole Ertas

 

4 Consumer Personas to Understand

Free Range BrandsYou reveal 4 consumer personas who each interact with brands in a different way.  Tell us about them

The key is in shifting your mindset from making the brand the hero to creating entry points for a consumer to become the hero.  From brand purpose to consumer purpose, this is how you build community.

There are 4 powerful ways a consumer interacts with a brand – and they can be understood through distinct personas.  They are:  LORDS, LOVERS, HACKERS, and HAWKS

LORDS are the modern-day influencer.  In the past, influencers used to be celebrities. Today, everyone has some form of a following. These are the Lords.  They seek to be recognized and seen by their followers.

LOVERS:  All brands are headed towards commoditization.  This raises the bar for marketers to build a brand over a product.  Lovers connect on values.  What does your brand stand for that your audience values beyond functional benefits?

HACKERS:  Modern day consumers think if brands are for them, then they should have every opportunity to interact and co-create.  Brands that don’t let consumers “in” are missing a profound opportunity to connect.

HAWKS:  Transparency has unleashed generations of distrust of companies.  Now the Hawks are in power, and they know it.  You need to think about everything from sourcing to hiring to ingredients, or the Hawks will unleash with little warning.

 

4 Ways to Transform Your Marketing In An Analytical World

Transform Your Marketing

Whether you’re in a large business or you’re an entrepreneur, you’ve seen that how products and services are marketed has changed dramatically in the past several years. Our social, mobile, always-on, data-driven, analytical, highly-personalized world is changing at a pace never seen before.

How your message reaches the world is changing as fast as the technology changes. And the role of marketing has shifted, requiring marketers and business leaders not only to understand traditional marketing but also to mine data to make decisions.

Adele Sweetwood has just released a new book, The Analytical Marketer: How to Transform Your Marketing Organization. As Senior Vice President of Global Marketing and Shared Services for SAS, she guides marketing strategy and go-to-market programs. Her research and 30 years of marketing leadership make her the perfect executive to explain the shift in messaging and what to do about it. I recently asked her about the changing nature of marketing and analytics.

 

“If you don’t like change, you’ll like irrelevance even less.” –Eric Shinseki

 

Deliver A Great Customer Experience or Risk Extinction

Data analytics is all the rage in helping executives make decisions. How is it transforming traditional marketing?The Analytical Marketer_Book Jacket

Being a customer-centric business was once the exception, not the rule. Now businesses across all industries need to deliver a great customer experience or risk extinction. Marketing can lead this transition by defining what a meaningful interaction looks like for that business’s consumer. The best marketers today have a keen sense of, and clear focus on, the demands of the customer, through sophisticated analytics and data-driven methodologies. In our digital “always on” world, where we’re continually collecting copious amounts of real-time data about our customers, marketing is in the best position to own and leverage that data to understand and service the customer in ways that weren’t possible before.

 

“It is a capital mistake to theorize before one has data.” –Arthur Conan Doyle

 

Develop Multiple Skills for Success

Since we learn that a numbers-orientation is left brain whereas creativity is right brain, is it really feasible to be equally skilled at both?

I don’t believe anyone is exclusively left-brained or right-brained. Being more analytically-oriented or more creative can certainly be innate in someone, but with training, new skills can be learned and developed. Marketers have traditionally worn many hats, so flexibility has been a long-standing component of the job. While a member of my team may not need to tap into her entire skillset every day, she absolutely needs a wide variety of skills that include analytics, social media, storytelling, and creativity to be successful.

 

You say that marketing is traditionally reactive: Launch, wait, try again. What’s changing?

The reactive approach to marketing simply doesn’t fit into a customer-centered business culture. Marketing now is more about science or math that is driven by an influx of data, channels, mobility, and, most importantly, changing customer demands. Analytics is driving campaigns. As a marketing department, that means leaning more on the work of folks who help analyze behavioral data and the digital footprint of our customers and prospects.

In fact, some of the most interesting work within our marketing department at SAS comes from those focused on data forensics. This is the practice of using data discovery to establish the facts of a marketing activity, a campaign, or a broader initiative. But beyond the basics of data digging, data forensics incorporates intangibles. They are the piecing together of anecdotal and qualitative tidbits along with quantitative data to develop a rich picture of what is working and what isn’t. With that data and analysis, we’re creating campaigns that are more focused on where customers are in their decision journey and what they are looking for. We’re not blasting an email campaign and waiting for results – we’re a step ahead.

 

“Data beats emotions.” –Sean Rad

 

Common Challenges

As you talk with marketing leaders across different fields, what are some of the common challenges they are facing?