by Jacqueline Koch | May 12, 2015 |
A baby boomer, a Gen-Xer and a Millennial walk into an incubator.
Sounds like a joke,right? Nope, in fact it was the scene unfolding at a recent B2B Startup Weekend event hosted by 9MileLabs in Seattle where all three age groups ended up on the same team. The goal: Listen to one minute product pitches, pick one, join a team, develop a minimum viable product concept, validate it with potential customers, build a business case and present it to a panel of judges including entrepreneurs and VCs on Sunday afternoon. Whew!!
Now it’s starting to sound as though there could be some humor involved.
Why? I was there and I was the Gen-Xer. And I’ll be frank: Millennials make me nervous for a lot of reasons, many of which are outlined in this Marketwatch article. The bottom line is that we’re being upstaged by the kids we baby-sat and our salaries are starting to look like baby-sitting money. So, hey Millennials, yes you, I’m trying to figure you out.
Want to Connect? Got Content? Get talking
A recent Forbes article shines a reassuring light on the effort to market to Millennials: It’s not business as usual. Millennials don’t want to be talked at. They want to engage, to be engaged, and they want rich, original content.
For a Gen-Xer like me who has a journalism background, this sends a pleasing tingle up my spine. It’s my “I-told-you-so” moment. Here’s why. I’ve always been perplexed when corporations feel they need to bludgeon their audience with their brand. Instead of pelting us with logos and branding, let’s embark on a “conversation.” It’s been a long time coming and I’m finding myself grateful to Facebook. Intended or not, the power of 1.3 billion active users will ensure the shift will happen through a revised newsfeed algorithm: According to a recent article in Social Media Today: “This change further underlines the need for brands to move from a broadcast focus to making themselves part of the conversation.”
Strength In Diversity
Anyway, back at the incubator. A collaboration is underway and the process has gone a long way toward defanging the Millennials working by my side. A remarkable age-span, from senior in college to pre-retirement, has infused a powerful mix of varied experiences and perspectives in a complex project. Yet it’s gotten us over the finish line—from “I have no idea if this is a good idea”— to a compelling pitch. I’ve always been a proponent of strength in diversity, cross-culture, cross sector and now, more then ever, cross-generational.
by Jacqueline Koch | May 7, 2015 |
Our friends at 9MileLabs hosted a fascinating talk on b2b content marketing last night. The speaker, Rich Stillman from Altus Alliance, did a great job demystifying the basics.
First, let’s be clear on the definition of this popular buzz-phrase. The Content Marketing Institute (CMI) describes b2b content marketing as, “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action.”
And for those who may have been under a rock for the past few years, a recent CMI study reveals that 86% of b2b marketers are ‘doing’ content marketing.
If you haven’t dipped your toe in the b2b content marketing pool yet, Rich suggests there may be a few reasons why you’re a bit gun shy:
- You think it’s too labor intensive
- You won’t be able to get customers to talk
- You can’t generate enough content for all use cases
- You don’t want to waste money because you can’t get specific stats or metrics
Rich thinks this is all just whining and that you have no option but to jump in head first because content marketing is the way b2b companies connect with customers today.
Ok then, let’s head up to the diving board and get ready to drive in. But wait, what do you need to think about before you get started so that you execute an elegant swan dive rather than a messy cannon ball?
Develop, document and actually stick to a marketing strategy
Whether you are a startup without a marketing budget or a more established company, you must have discipline around developing your marketing strategy. You must understand what your value proposition is and who your customers are and your content should flow out of that in a disciplined way.
Be fanatically market driven
A winning b2b content marketing strategy must be built on a deep understanding of what your customers need. For startups, identifying this is usually part of developing the business plan. But understanding what customer characteristics are more broadly is critical to informing your content strategy. It is also important to be informed what is happening in your competitive landscape.
Convert website analytics into funnel mathematics
Rich suggests that if you think about b2b content marketing as leading someone through the decision making funnel, you realize that it’s about understanding what information you need to provide your customers along the way. There is a natural progression from “I don’t know who you are” to “I can’t wait to open up my wallet and give you money” and content marketing should pave the way.
Execute content around bigger ideas
Your customers are busier than ever and are constantly being interrupted by people trying to show them content that may be valuable to them.
In the social media-centric world we operate in today, we have to work with a small headline and a small amount of copy and an image. To rise above the noise and find your audience, there should be a big idea behind your 140 characters. A campaign theme that is connected to something deeply held by your target audience. And, your content should be consistent with your mission and your message. You can always create a thematic connection with a powerful visual.
Measure leads not traffic
Website traffic is not leads – but traffic can become leads. In the world of B2B marketing, the goal is to create leads that become customers – not awareness.
Rich suggests that we learn a thing or two from Lean manufacturing and keep iterating:
Try something, measure it, optimize. The task at hand is to keep trying different keys until we can open the door. Don’t stay loyal to an idea that isn’t working.
Tactical ideas to get you started
In closing, Rich shared some tactical ideas for creating and sourcing content:
- Enlist outsiders to create content for you
- Customers, industry experts, college students
- Record interviews with people and transcribe them
- Learn from the best – or at least those better than you and copy with impunity
Ok, I think you’re ready to take the plunge. If you need help, contact us!
by Jacqueline Koch | Apr 29, 2015 |
Part two of our article on lessons learned about innovation from a mathematical genius. Read part one here.
Cedric Villani, the 2010 winner of the Fields Medal for mathematics (the Nobel Prize for Math), is in the innovation business. His goal is to solve ‘unsolvable” mathematical problems and thereby more the collective knowledge of mathematics forward.
In his latest book, Birth of a Theorem, Villani explores the conditions or ingredients that need to be in place to support individuals and groups as they try to advance the current best thinking to solve specific problems.
Whether you are dreaming up a new-to-the-world product or service or trying to find new and compelling ways to connect to your customers, draw some inspiration from someone who spent almost three years on a journey of discovery to provide answers to centuries-old problems and connect important strands of physics, math and economics in the process.
The dynamics of innovation are collective
Existing knowledge – Scientific innovation usually starts with the work of others. The goal is to build on and progress what we already know. Let’s make sure that we know what the best thinking is in our field – let’s educate ourselves on what is currently possible and then find ways to move that forward.
Motivation – This is the most important but most elusive ingredient according to Villani. Some people believe that motivation is born in us as children. One of the greatest innovators of our time, Alan Turing, for example, discovered the concept of scientific explanation when he read Natural Wonders Every Child Should Know as a child. While motivation cannot be manufactured, it is critical to attract some fellow travelers along on your journey who will help keep you motivated during the times when you lose your way.
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Environment – Discovery is more likely to happen in an environment that is favorable to innovation. This environment can be influenced by government policies, economics, availability of funding etc. Clearly Seattle, Austin, New York City and Silicon Valley are great examples of environments that foster technology and biotech innovation. Is it possible to create an environment for innovation on a more micro scale? In your own organization, for example.
Collaboration – Very few scientific discoveries are made by individuals in isolation. Instead, scientists tend to leverage collective dynamics within an atmosphere of sharing. They recognize that this collective approach accelerates the innovation process and can produce far superior outcomes. This is a principle that we have embraced at Boost! where our ‘product’ is the collective dynamic that exists between our team of marketers. We recognize that the fruits of our collective labors are much more valuable for our clients than the efforts of a lone wolf.
Constraints – Villani points out that while constraints and creativity sound like an oxymoron, it is constraints that drive you to a solution. The interrelationship between constraint and innovation is also present in arts like poetry where the writer is required to create within a tight structure – rhyming couplets, number of lines etc. Constraints can serve the purpose of removing many of the choices we face and force us to focus.
Hard work combined with intuition – It is often the case that the solution comes after many hours of hard work – just when we turn our attention to something else. Our intuition tells us what the solution is and we must lay the groundwork for it to do its job. But then we also need to know when it’s time to get out of our own way and let the solution come naturally. It’s not a coincidence that many people have their best ideas is the shower!
Luck combined with tenacity – The journey to discovery includes many bumps in the road. But according to Villani, the more we persist, the more opportunities there are for luck. What it luck? It’s the chance meeting with the person who can move your idea forward. It’s the off-hand remark offered by a collaborator that helps you identify flaws in your logic. Luck is everywhere and available to everyone who is willing to see and receive it.
Marketing strategy as a journey of discovery
The opportunity in the idea that developing marketing strategies is a journey of discovery, is to think bigger than simply re-using existing ideas and frameworks to solve problems. Instead, we ask how we can create the conditions to be truly innovative and move current thinking and best practices forward to create competitive advantage.
by Jacqueline Koch | Apr 24, 2015 |
Part one of our article on lessons learned about innovation from a mathematical genius. Read part two here.
What do solving impossible mathematical equations and marketing strategy have in common? Well, if you squint and turn your head sideways, you’ll realize that both have something to do with innovation and discovery.
What can marketing strategy learn from a mathematical genius?
That was the key takeaway from a recent talk by Cedric Villani, the 2010 Fields Medal winner for his work on Landau damping and the Boltzmann equation. (Don’t feel bad, I didn’t know what those were either, so here’s a link)
While my knowledge of mathematics is severely limited, I am fascinated by what takes place inside the mind of a renowned genius, wrestling with the most important work of his or her career. And this is the topic of Villani’s recently published book, Birth of a Theorem.
In his talk, Villani highlighted his journey of discovery, one he embarked on with fellow researcher, Clément Mouhot. I was struck by the relevance between many scientific research concepts and the development of a marketing strategy to solve customer challenges.
Want innovation? Prepare for surprises…and failure
When you set out to solve a difficult problem, Villani suggests that the only outcome you can predict is ‘that we will get surprising results.’ This requires a level of open-mindedness and a willingness to live with uncertainty.
You also can’t predict what the process looks like. Scientific discovery is usually a zig zag of dead ends, false starts, incorrect assumptions and premature conclusions. The key is to take your time. Don’t rush to a solution. And be prepared: You have to be able to tolerate interim failures.
“The process of mathematical discovery starts when you understand nothing and then, a faint flickering of light and then, all of a sudden, it’s “ah!” – light everywhere and illumination.”
Much has been written about the importance of failure in the creative process. But how do we really embrace this idea when we set out to solve hard marketing problems? It is often too easy for “experts” to sell their clients a set of deliverables—known outcomes based on proven methodologies and frameworks. This may be a red flag for those who are looking for real innovation as a way to separate themselves from the rest of the pack. But then, as Villani suggests, this approach requires a tolerance for ambiguity, experimentation and luck.
Next up: The 7 ingredients for discovery
by Jacqueline Koch | Apr 16, 2015 |
Do we really know where people in our community who are living with severe mental illness go for support?
Most likely not. Why? Resources are generally few and far between and often lacking. And let’s face it: We aren’t quite past the stigma associated with mental illness.
It wasn’t long ago that I discovered a genuine asset in my own neighborhood: Transitional Resources (TR). This organization provides integrated services to help people living with severe mental illness succeed and experience recovery: housing and residential treatment, community, intensive short-term crisis support, case management, vocational opportunities and community activities.
A Model of Excellence for Mental Health Support
The value of TR really hit home at their annual fundraiser. I was introduced to individuals whose lives had been utterly transformed. They had gone from a world of chaos and confusion to stability and a life with meaning. TR, however, is a non-profit that also needs support. I knew right away I wanted to be involved. Today, I serve on the board and assist with development and fundraising.
TR started small, growing from one residential treatment program for 15 patients to six different programs serving over 220 individuals each year. It also serves as a model to serve a clearly unmet need in every community. Without the support of organizations like TR, people living with mental illness are vulnerable to devastating outcomes, including homelessness, institutionalization and incarceration. It doesn’t have to be this way.
TR’s mission is simple: Respecting autonomy, dignity, integrity and recovery. Who can’t get behind that? There are many ways to volunteer.
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