iKnow – Let's foresee the future

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We all want to know how the future looks like? What are key trends? What is the next bid thing in technology or our industry? The challenge is… How can the future be foreseen? Well, maybe there is a way if collaboration succeeds as the new imperative of humanity…

A new European research project by the EU Commission is challenging the unforeseeable future. The platform iKnow Futures aims at interconnection knowledge via an “innovation, foresight and horizont scanning system”. And ideally it will help companies, societies, political systems, science but also individuals to identify upcoming risks and dangers as well as potential opportunities long before the next economical crisis, the next virus, or the next weather desaster.

The platform is meant to give insights in new tools and technologies which could change the future. It displays latests projects and research which could foresee trends in science. And it shows first signals via “weak signs” when there is some danger, threat or risk on the horizon that might affect a country, a county or a just some cities that already can be made out as critical.

The long-term EU project collects insights in academic research and collects data to make the world easier for interpretation and economical planning. Whether this is a new form of common knowledge that might revolutionize the world’s approach to common intelligence needs to be seen. Nevertheless, everyone of us can participate and help to make this place a better world with less unpleasant surprises.

Spot On!
Collaboration for a better world sounds somehow fantastic, and the project is definitely deserves a closer look. Imagine someone could have predicted 9/11 attacks with a Wild Card? And what if they become Weak Signals? Would this have saved the world from a nightmare, and would this have changed the ecosystem of planes and traines? How could collaboration platforms become the next “chaos prevention radar”?

PS: And let’s hope Apple won’t try to claim and aim for the name…

The value of being "Linkedin"

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Although some people still mess about the value of social networking, some platforms have already proven their success and benefit for companies and brands. From a B2B point of view, LinkedIn and Twitter are probably the two platforms that make most sense to marketers.

If Facebook has some value for brands that might be seen more from a B2C perspective. LinkedIn and Twitter have immediate B2B business impact. And business people predominantly use it for people searches it seems to understand their 3 Ps of their business: profession, position and potential.

LinkedIn is the star in this space in terms of business input, lead generation and some deep information exchange with their groups. This infographic from OnlineMBA states some valuable and interesting data about LinkedIn…

– 150m+ professionals globally (LinkedIn company profile stats – February 9, 2012)
– 44m+ members in EMEA region (LinkedIn company profile stats – February 17, 2012)
– registered business professionals from over 200 countries
– executives from every Fortune 500 companies
– 74% have a college degree, 26% even a graduate degree
– 1% of users are responsible for 34% of the traffic
– 1 million new users every 12 days = equals 1 new user per second
– 69% of users with at least $60K annual income
– 39% of users with more than $100K annual income
– 2 Billion people searches in 2010

Study: Web-traffic boosts in-store sales

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In a recent study the research companies comScore, Accenture and dunnhumbyUSA found some significant relevance between in-store sales and a company’s web presence. The study was based on a panel of CPG customers and one million U.S. Internet users who have given comScore explicit permission to have their online activities continuously measured and matched to their in-store brand buying behavior provided by dunnhumbyUSA.

The report comes to the conclusion that consumers who visit a website prior to their shopping experience in a company store spend 34% more with that company and 57% more on products or services based on their specific industry sector. It also states that visitors of brand websites are frequent buyers of the brand in retail stores. It shows that 42% more of these clients finish their transactions than non-visitors. Furthermore, website visitors are also heavier buyers in a brand’s product category. They are spending 53% more in their category dollars than non-visitors.

“Since website visitors have higher affinity to the brand and the overall product category, there is an opportunity for brand marketers to drive loyalty through personalizing the website experience, catering to the preferences of their best customers.”John LaRocca, Vice President, Strategic Partnerships, dunnhumbyUSA

And again another study highlights the importance of content marketing as the new emerging trend in marketing. Shoppers were more aggressive in their approach to understand and evaluate their purchases prior to their visit in shops as a result of the massive information access through the web. According to the research, content marketing plays a significant role here. So, campaigns on the web not only add value to web shopping but also -and for some companies and brands more importantly- will help to drive and boost in-store habits and sales – apart from positioning a brand’s capability.

“Marketers who create compelling (brand) website experiences for consumers are extremely effective in driving incremental and profitable in-store sales. Analysis shows that consumers visiting the best of the 10 CPG brand websites evaluated in the research study, spent over 200% more on the brand than non-visitors.” Jerry Lohse, Senior Director, Accenture Interactive

Based on the fact that Brafton reported some weeks ago that the average consumer visits more than 10 web pages before a purchase decision, this study marks an important point in the relevance between online and offline shopping. This might be catalyzed by the new opportunities that smartphones, tablets or Augmented Reality (see real-life community shopping) offer, and shows the straight relationship between the two shopping experiences which more and more merge to one close shopping cycle.

Spot On!
More companies are realizing that offering web shoppers the same information and service as in-stores will lead to more purchase at both ends of the shopping cycle: online and at offline locations. The challenge for companies is to differentiate the shopping experience by using SoLoMo (social – local – mobile). Here the question for the future will remain whether in-store shopping needs to become more of a lifestyle experience or adventure to attract more consumers to join in-store activity (see IKEA Sleepover), or wether people will want to have real people around them and thus make it a social reality world, rather than a social web world…

Edelman Trust Barometer 2012: CEOs down, Social Media getting better…

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Year on year, Edelman’s Trust Barometer checks the credibility and trustworthiness of politics, companies, CEOs and media from a quite generalistic point of view.

The findings for this year were published in the 2012 Edelman Trust Barometer, a global survey which came out yesterday in its 12th year. The survey offers insights from over 30,000 people in 25 countries with the main focus on “Informed Publics”. By “Informed Publics” Edelman sees college-educated people between 25-64 years of age that are among the best earners in their countries and describe themselves as heavy consumers of media information.

Obviously interesting for me were two things… How are people trusting CEO’s after CEO’s criticized their marketers some month ago in a study by the Fournaise Marketing Group. And also, how are consumers worldwide gaining trust in social media as a source of business information.

Let’s start with the CEOs first.

When Edelman asked respondents how credible information coming from a CEO would be, 38% replied they would trust the information. Although this sounds not bad, it is a 50% dump from last year and the biggest drop since Edelman started doing the survey 12 years ago. And although government leaders were less trusted than CEOs, in more or less all the countries responding, 49% would want to see an increase of government regulation of business.

And how about consumers’ trust in Social Media?
Well, let’s put it that way… Social Media is on the rise but still lags behind corporate websites and traditional media. So, you marketers should better not rely solely on Facebook, Twitter and Google+ pages.
The 2012 survey tells us that 14% of respondents see Social Media as a trusted source of company information — an increase of 6% to one year ago. But it’s still getting the lowest trust score of the four options shown below. This comes close to the trust in company websites (16%). Traditional media still is top of “news pops” (32%).

Spot On!
So which business is trusted most? Technology companies are most trusted with 79% saying they believed tech companies do the right thing. Indian, Chinese and the United States tech companies earn most trust, UK, France and Germany rank lower. Trust in financial services companies and banks soars, and those companies are the least trusted businesses. 47% said they trusted banks to do what is right. 45% saying they trusted financial services companies.

Who do you trust? Would you agree with these Edelman findings?

Memories – History of Disruptive B2B Innovations

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Sorry, if I am getting emotional in this post… After far more than 1.000 posts, there must be one that is more personal than the rest of this blog: Memories.

I haven’t been alive 1851. Well, I am not alone on that one, right…?! No, I haven’t changed the world.
Obviously. Many of the companies on this infographic could not make this happen…

However, in 1999 something happened that I did not expect those days, or when I started my career in the B2B marketing and media world. It was disruptive in my B2B marketing life. Ok, I admit it was no innovation…, maybe some tiny idea and thoughts were those days. It was a milestone for me personally. And a tipping point in my business experience…

Getting an award is something that gives people a career kick. No Grammy. No Oscar. No… whatever. Having an award from the company that is mentioned at the beginning of this chart is something special to me, especially when you were young, inexperienced but eager to become better and better in business. When United Buisness Media bought CMP in 1999, I achieved a Salesperson of the Year award from CMP. Big emotions, big memories, I can tell you…

Seeing JESS3 and Eloqua mention CMP in their history of disruptive B2B Technolgy Innovations infographic brought back these long forgotten memories. I haven’t seen anyone mention CMP for years…

This infographic is not only rewarding the importance of content marketing, it also shows that content marketing will remain to be relevant and thrilling in the future. However, it might shift more and more from text to audio-visual touchpoints? We will see…

PS: Thanks to Mai Nguyen to ping this through to me…

Big Tech Players New Year's Resolution 2012

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What are the plans of the big tech players for 2012? Nitrozac and Snaggy have some great thoughts and ideas, well at least they suggested that this could be their visions, or let’s say their resolutions, or what ever you want to call it. Maybe you want to add something…?

The CEO of the future is social

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This new infographic from CEO.com illustrates that more and more CEOs are figuring out social media and finding great benefits as a result. Some weeks ago, we could see in a study that European business chiefs understand the power of Twitter and support its use these days. It seems Social Media is making its way to the C-levels.

Will the CEO of the future really be more social…? Let’s see…

Innovation study: Is culture or strategy the key to success?

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Obviously, the headline question is not easy to answer. Both elements have their impact on business success. At this years IBM JamCamp, we could hear many presentations why “culture eats strategy for breakfast”, and how to turn your business into a social business (i.e. Sandy Carter’s speech) that will drive innovation to new dimensions (and here is some hint how companies might get huge investments for social business realization).

A new study by Strategy& also shows that spending more on R&D won’t drive results. The results from the study illustrate that the most crucial factors are strategic alignment and a culture that supports innovation. The study surveyed almost 600 innovation leaders in companies around the world, large and small, in every major industry sector.

So what makes a truly innovative company? For sure, a focused innovation strategy, a compelling business strategy, deep customer insight, intelligent networking, as well as a splendid set of bright tactics. These are all elements that help giving your company an innovation boost. Still, the study states that corporate culture ties everything together — the organization’s self-sustaining patterns of behaving, feeling, thinking, and believing.

Still, the results of this year’s Global Innovation 1000 study make clear that only about half of all companies say their corporate culture robustly supports their innovation strategy. Moreover, about the same proportion say their innovation strategy is inadequately aligned with their overall corporate strategy. And although entire industries, such as pharmaceuticals, continue to devote relatively large shares of their resources to innovation, the results are much less successful than they and their stakeholders might hope for.

What I like about this study is that it supports my assumptions and thoughts of the Community Centric Strategy model. Across the board respondents identified “superior product performance” and “superior product quality” as their top strategic goals. And their two most important cultural attributes were “strong identification with the consumer/customer experience” and a “passion/pride in products”.

Statements like the following from the study could be taken as a proof for the future development towards a more cultural business attitude that puts the consumer in the middle of your innovation efforts…

“Our goal is to include the voice of the customer at the basic research level and throughout the product development cycle, to enable our technical people to actually see how their technologies work in various market conditions.” Fred Palensky, Executive Vice President of R&D and CTO, 3M Company

In my presentation at the IBM JamCamp 2011 I made clear that companies and brands need to close the perception gap between consumer’s demand and company goals. If companies don’t respect the 5 C engines of the Community Centric Strategy these two expectations cannot be aligned. We will continue to talk of target-groups instead of consumers that are grouping together in “community centers”. This is more of a cultural development companies need to go through than definable strategic capabillities by companies to drive innovations. By closing both the strategic alignment and culture gaps, companies and brands will better realize their goals and attributes.

Spot On!
The study results show that companies and brands should rethink the way they drive their innovation strategy. It suggests that the ways R&D managers and corporate decision makers think about their new products and services are critical for success. This includes all aspects how they feel about intangibles such as risk, creativity, openness, and collaboration. When nearly 20% of companies said they didn’t have a well-defined innovation strategy at all, it offers the chance to start anew and with the right approach. The Community Centric Strategy might be one solution for companies to evaluate culture as one of the main drivers to achieve your strategic goals in a modern way of doing business.

The Virtual Handshake

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Marko Greitschus / pixelio.de

When I was a kid, my grandparents had a little pub. Nothing special. Nothing glamorous. Just a comfortable meeting point for friends or business partners to catch up for a drink. The best day always was the “market day”. Merchants were setting up their booths at the marketplace in the little village my grandparents were living in, early in the morning when most people were still snoring in their beds. When their job was done, they popped up at the pub around 7am when their wives took over to sell their goods.

The guests in the pub did not expect very much. A drink was their desire. A tasty sandwich was luxury to them. Competition amoung pubs was tough, even in this little village a long time ago. There were many pubs around in that coal distrinct north of Germany. The owners of the other pubs in the village changed more or less every year, some even earlier. My grandparents’ business stayed for over a decade, until they decided it was time to stop working. The guests loved their attitude, their individual touch, their personalized way of talking to them. My grandparents’ business was successful.

What was the key to their success story?

Before I answer this question, let me ask you something… When did you shake hands last time with a friend, or a business partner? Do you remember? Did you ever think about why we are shaking hands with people? Have you ever not returned a handshake? It is a common habit of introducing ourselves and of saying Goodbye. We just do it. Well, let’s say in the offline world we do it…

Those days, whenever somebody came into my grandparents’ pub, my grandma and granddad gave them a personal handshake, embedded in some small talk about the weather or last nights sports results. The conversation made people feel good, feel wanted, not just being anonymous guests. They created a living room. People started talking with them about their personal hopes, fears, issues. The handshake had broken the ice…

In our social web world of today, customer relationship management and social networking become an increasingly important factor to be maintain a successful business within a more and more challenging and competitive world.

Many relationships today begin with a virtual handshake. So you may ask: What is a virtual handshake? Today, it comes in the format of a comment on a blog post, a LIKE on a status update on a Fanpage, an introduction mail inside a social network, or an invitation to join a community (Facebook or LinkedIn or a company specific).

In the offline world, nobody would turn away and not return the handshake. However, in the online world individuals put effort in terms of writing, talking and engaging with companies and brands, making their brand passion transparent, or just opening their minds to “business” (or privat?) conversations. All of that often before having received a virtual handshake with those companies that are reaching out to them via their -often anonymous- social hubs.

By participating in a community or engaging in conversations, customers take the initiative, they state a case and describe an act of will. Companies tend to forget that this is a virtual handshake. “Hello! Here I am! Look what I am telling you…”.

Many companies and brands do not answer. They don’t reply on social networks. They don’t value the hand that is right in front of them waiting. The hand which feeds them and their business. The free opportunity to connect, collaborate, or convert. Lack of time and resources is the killer of many of their social web activities.

My grandparents never forgot to shake hands with people that came to visit their pub. This was their success story. So simple, right…?

Think about it next time you set up a group, start a community or approach someone on a social network (be it via InMail on LinkedIn or a status update on Facebook). Relationships start with a handshake – whether real or virtual. There just needs to be somebody that returns the handshake. For some this might be a change management process, for some it is just natural attitude towards customers…