Archive for September, 2006
Sales Vs. Marketing - The Struggle For Productivity
60% of sales professionals felt that input from marketing DID NOT improve the effectiveness of their sales cycle in a poll this year by Sales and Marketing Management. At the same time, 35% of marketing professionals felt that their sales organization DID NOT effectively use the tools they implemented for their use.
Mutually supportive groups who point fingers at each other often have process measurements that are not relating well. Marketing can be measured by output of items and meeting dates, whereas sales is evaluated continually along the sales process continuum.
Try placing each marketing tool available on the process map used to evaluate sales. Usually there are items that don’t fit well anymore and holes that need filling. Done well, enough poorly fitting tools can be identified to free up the resources necessary to provide focus on new ways to support the sales process.
In a creative organization where marketing strategy is in tune with the sales process, strong communication and planning between the organizations makes the development and use of communication tools more productive.
No commentsForeign Exports Drive Sales or Indicate Attitude?
At today’s Economic Development Council Richard Paullin, Chief Operating Officer - Illinois Global Partnership, told us that only 12% of Illinois Manufacturers export goods. Not surprising given my earlier post on how few manufacturers in the region are working to adopt technology more fully in their business. The stat that caught me, however, was that the firms that were selling internationally on average were growing 20% faster and paid employees 15% better.
The good news is that Illinois Global Partnership is working on developing infrastructure to help smaller and mid-size businesses develop overseas markets. The question is, if only 10% of manufacturers have the management savvy enough to actively pursue technological improvement, how many businesses will jump at the opportunity to strategically diversify their business internationally?
Where does your company sit? Are you actively pursuing foreign markets? Have you tried and given up due to cost, complexity or financing? Is it in your top three priorities or somewhere on the next page?
In addition to infrastructure and opportunity the Illinois Global Partnership will obviously have to work on pushing companies strategically decide to develop overseas markets or movement will be limited to the few with a clue.
No commentsCritical Thinking or “As Time Goes By”
I have come to the conclusion that one of the biggest challenges for today’s businesses is the lack of critical thinking time. No more do we have time to “chew” on a problem or “mull over” an idea. Words like cogitate and ruminate are almost extinct.
Instead we are driven by a pace measured in nano-seconds and kilobytes. We are reachable everywhere — if you don’t believe me count the number of times you hear a phone conversation in the stall next to you — all the time. The expectation of receiving an instant answer, or decision is bolstered by our ability to text message, email, IM or track down our colleagues on any vacation.
I’m not a neophyte that believes we need to abandon our technical progress of the past 20 years. Nor do I advocate abandoning the countless benefits the business world has experienced with the removal of communication barriers, the development of new technology and implementation of advanced processes. That said, I do think there should be more room for simple thinking, ideating, innovating, discussing, and considering the world, the problems, the opportunities and even the visions of a business.
A creative organization that is positioned to manage itself through the chaotic environment of today’s marketplace demands innovative solutions that make surprising connections. Today there is a dependence on speed and time, which makes it difficult to build a creative foundation. And yet, it is creativity and innovation that keeps any business growing and moving forward.
The result of all this speed and technology? Relationships within organizations are not as strong, depth of knowledge and skills are sometimes lost and business-changing ideas are swept aside as not a quick enough fix. When I worked at Hallmark back in the late 80’s and early 90’s one of my managers told me (and I agree) that good businesses are born out of good decisions based on good people doing good work for people they trust in a place they enjoy coming to.
I think that is still true — we just have to give ourselves the time to get there.
No commentsWhat’s Your Company’s Clue Quotient?
Advanced, Progressive, Struggling and Disengaged were categories given out to manufacturers at a recent Chicago Economic Development Council meeting.
Two things stand out about these categories: First, if you are in any category other than Advanced you are at severe risk of having the world markets pass you by. Second, 75% of manufacturers in the greater Midwest fall into the bottom two categories.
I found the definitions of each category to be enlightening and relevant to any organization, not just manufacturers.
There are few reasons why an organization can’t move itself up in these categories, positioning itself for growth in the global marketplace. It takes a strategic vision, a creative workforce and environment and a will to compete beyond existing markets. Plus, in the midwest reagion there are dozens of grants, government bodies, trade organizations that can be used creatively to drive towards a strategic vision.
The Chicago Economic Development Council is at www.edcchicago.org.
No commentsWarning! Conventional Wisdom Ahead
I overheard a conversation at lunch today between two business folks. Now I don’t know whether they were boss/employee or just colleagues, but the older one uttered a phrase that all but stopped the discussion - “Well, conventional wisdom says…”
There are many phrases that masquerade as positive feedback or analysis but are truly meant to stop whatever ideation or innovation is occurring. “Conventional Wisdom” is one of the worst offenders.
Used by an authority figure (Manager, CEO, Industry Analyst, Consultant, Mentor, etc.,) its hidden meaning screams “No that isn’t how we are going to do it.” It could also mean, “you don’t know about which (or to whom) you are talking.” Either way, this is an ideation and innovation stopper.
“Conventional Wisdom” should not be a static thought, but one that is challenged over time and experience. Businesses change, customers change, investors change – so yesterday’s conventional wisdom could be the very reason a great company falls into old and sloppy habits.
So the next time someone says, “Well, conventional wisdom…” be reminded of what Gandhi said –
“It is unwise to be too sure of one’s own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err.”
Mahatma Gandhi
Indian ascetic & nationalist leader (1869 - 1948)
Little Things Pay Off
I spent several hours writing at my local library today. Before I cloistered myself in my favorite cubicle, I stopped by a local eatery for my favorite sandwich - a bacon cheddar egg bagel. (We can talk health issues later!) When my sandwich was delivered I did the same thing I have done every other time I have ordered it - turned the bacon around.
You see, they make the sandwich — bottom, egg, bacon, cheese, top – and then they cut it in half to make it easier to eat. Inevitably they cut it so that the bacon lays perpendicular to the cut.
So what you ask?
Well, the bacon mostly hangs over the edge of the sandwich instead of being on the sandwich causing it to be eaten separately or having to turn the bacon around.
So what you ask? (again)
Well, as much as I like this restaurant – and I do – Whenever I talk about it, the only thing I usually mention is turning my own bacon around.
No matter how great things are, it’s the little things that get remembered and shared. Take a look at your business interactions and see if your customers have to turn their own bacon around. The time you spend fixing the little things will pay off in the long run.
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