Why My Role Model is an Economist

Don’t confuse a mentor with a role model. I have several mentors in the communications profession whom I’ve worked with over the years. They’ve taught me well and acted as phenomenal counsellors, and I still talk with most today. But do you have a role model and what’s the difference?

While a mentor is someone you know and talk with to help guide you through difficult career choices, a role model is someone whom you emulate and sets an example for your behaviour. Here’s where my choice of an economist comes into play.

Discover Your Inner Economist - Tyler Cowen (Kindle Edition)

Tyler Cowen was featured this past May in BusinessWeek and blogs at Marginal Revolution. I’ve been reading his blog from almost its near beginning so his writing and thoughts are not new to me. I don’t always agree with his points of view, but he’s been an excellent role model for reasons I think as fellow communicators you’ll agree:

  • He’s a dedicated writer. He writes a blog post nearly every day, he publishes working papers for his profession, and he’s a book author several times over. He’s constantly pushing himself and I admire his dedication to writing.
  • His appetite for reading and consuming information is great. In fact, all you need to know about his reading sytle is from this excerpt in the BusinessWeek story:
  • He handles each book as he ticks it off his list. “This I discarded. It appeared to get a good review, but there’s no framework, just scattered vignettes. I looked at 20, 30 pages.” Sarah Vowell’s Unfamiliar Fishes, thud. Cowen’s first rule of reading is as follows: You need not finish. He takes up books with great hope and no mercy, and when he is done—sometimes after five minutes—he abandons them in public, an act he calls a “liberation.”
  • He’s passionate about his ideas. If you haven’t read The Great Stagnation it’s worth the $3.99/Kindle or $4.24 hard copy. In the book, he writes about innovation and how growth has stalled due to several factors, including the low hanging fruit of available resources. But he also takes the time to write about our loss of passion for science and math and why we need to refocus on these careers. His look at innovation and what we can do in the future is worth the 15,000 words he pulls together. Ezra Klein from the Washington Post put together this review. What I like about this essay from Cowen is that while it’s about economics you don’t feel as if you are reading about economic theories — you’re reading about history, science and productivity. He does that in all of his books, including Discover Your Inner Economist.
  • He’s shown his ability to be right- and left-brain thinking. Read his book Create Your Own Economy for some thought-provoking ideas about social media and entrepreneurship. I was fortunate enough to email with Cowen when the book first came out and received an additional forward.
  • He asks the right questions. I’ve written about the importance of asking questions here before. Above all else, if you look at his writings and the way he thinks Cowen is curious. When he writes, he’s really trying to answer a question. Why are great economies stagnating? How can people create their own economy when ours is slowing down? How can we enrich our lives? These are big questions, but if you read his blog he’s doing the same thing on a smaller scale. I like his constant questioning of process and results.

Mentors are important and I would advise anyone to find a good mentor. But I would also argue not to overlook find a good role model outside of our profession. The rewards and insight from someone in a different field can be just as rewarding for you personally and professionally.

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http://marginalrevolution.com/

What Google’s Acquisition of Motorola Mobility Means for Marketers

Much has already been written about how Google’s acquisition of Motorola Mobility might shake up the mobile device market, reshape the Apple vs. Android battle or even redefine the patent landscape.

Courtesy Google

To me, it’s a signal to marketers, including B2B marketers, that it is most definitely time to have a mobile strategy.

Google is offering, what, $12.5 billion in CASH. If the folks in the Googleplex are willing to risk that much in liquid assets, it’s because they expect A LOT of people to do a lot more with mobile devices than they’re even doing already.

By coincidence, last Thursday, I got to hear Dan Grigsby, the founding partner of Drivetrain, and Anders Davidson, the CEO of MobileOn Services, speak to our local Business Marketing Association meeting about mobile marketing. Grigsby was a Minneapolis-St. Paul “40 Under 40,” was one of “MPLS/St. Paul Magazine’s 75 Best Brains,” and his firm just developed the (Minneapolis) Star Tribune’s new iPad app.

Grigsby compares where we’re at with mobile right now to the early days of the Web. The companies that were really leveraging the Web were inherently Internet-driven outfits like Netscape or Cisco or Yahoo.  But now, every single company needs to be on the Web in some capacity. We’re now just starting to enter that mass adoption phase for mobile.  And increasingly, that means tablets, not just phones. In fact, Grigsby claims that by the end of the year, there will be more iPads in the U.S. than iPhones.

Courtesy Apple

Davidson’s firm developed a platform called BuildAnApp that is designed to make it easy and affordable for small businesses and non-profits to develop their own mobile applications. He observes that nearly 50 percent of companies today have neither a mobile site nor a mobile app. His message? Your mobile device “may be a small computer, but it’s not a mini-PC.” As you start to think about just how you’ll participate in the mobile web, remember that people don’t use these devices the same way.

For example, people tend to be more task-oriented on their mobile devices. “Nobody cares about your ‘About Us’ section in the mobile app, or your company history,” he observes. They’re looking to get something done.

Another suggestion: Find the right tool for the right objectives. Davidson offered a B2C example: If you’re a pizza place targeting travelers near the airport, you’re going to want a mobile website. If you’re a pizza joint targeting neighborhood regulars, you just might consider an app.

Grigsby reminded the audience that your customers may already be assuming you have a mobile app, and that might well drive your prioritization. He said 1,000 people downloaded the new Star Tribune app from the iTunes App Store before they even announced it was available. Those 1,000 people simply assumed there was one.  Which means the day before that, 1,000 other people tried and failed to find one, and the week before that, 7,000 people tried and failed to find one. What do your customers expect from you?

Given the richer relationships B2B marketers are often seeking with customers than their more typically  high-volume B2C counterparts, I see lots of mobile app opportunities here and I also see a need for greater personalization. There’s certainly more to be done than simply outfitting the sales force with iPad-friendly presentation decks. More to come, I’m sure.

You Are What You Read — Books to Consider for Your Professional Arsenal

Instagram: The home library

I think one of the most consistent habits across those who excel in communications is that they have a large appetite for reading. My Kindle has certainly helped me with this habit as it is the best travel companion on business trips I could have found.

From newspapers and magazines to blogs and books, devouring words, retaining the information and applying it to work is simply a way of life for me. I admit that I probably don’t spend enough time with books, so when I do choose one to read it needs to be good. No, actually, it needs to be really good. That being said, if a book doesn’t interest me in the first 50 pages I simply don’t finish it.

But a few books have made a profound impact on the professional I am today and here’s my list:

  • Trusted Advisor — The theme of the book is pretty much in the title: You can’t be successful at what you do unless people have confidence in you and trust you. Think about that and your job. The authors use examples and provide reasons why you need to be your clients’ (internal as well as external) best resource. In today’s competitive job market and industries this may never be more true. I read this book while working for a professional services firm and it changed my attitude on how I approached my job.
  • Excellent Public Relations and Effective Organizations – This book by James Grunig and David Dozier has earned a special place with me. This was the book I used throughout earning my master’s degree at Syracuse and it has served me well since. It’s a big read and based on years of research, but the authors nail many of the key aspects of what it takes to earn a ‘seat at the management table’. For me personally, this book changed my views of the public relations industry and how we still need to grow as a profession.
  • Newsonomics Ken Doctor is someone you can trust when reading about the digital changes being made to the news business. While we all try to Monday morning quarterback the news industry as to what they should or shouldn’t be doing, Doctor is someone who does it without oversimplifying the issues. These are enormous and rapid changes facing an industry that we work with and rely on, and understanding what is happening is just as important on our end. I particularly like his Q&A approach throughout the book with various people.
  • Groundswell – If you read one book about social media to me this remains the standard for how things should be done. As more and more technologies emerge, Groundswell clarifies for you what you should focus on (people) and how to create your strategy using POST.
  • On Writing Well — Reading about writing? Yes, this is a must read for communicators who understand the power of the written word. From emails and blogs to research notes and speeches, writing (communicating) is at the heart of what we do as human beings. And for the lighter side of writing Eats, Shoots and Leaves is an entertaining reminder on the importance of punctuation. If you don’t believe in the value of good writing, think about your impression the last time someone sent you an email that was poorly worded and structured. Don’t be that person.
  • Innovator’s Dilemma — Understanding the thinking of executive managers is critical to doing our job as communicators. There are a number of great books today about business and business leaders, but I have yet to read anything that has influenced my role as a communicator more than Clayton Christensen’s book on innovation. Although this book is nearly 10 years old, it’s message about failing to ‘adapt or adopt’ remain present today.

Between my RSS feed, news media and industry publications there’s an endless amount of materials to consume but I still want to know your suggestions. If you could choose one book for me to read and add to my list what would it be?

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SXSW 2012 Panel: “Down in Front! How To Control Bad Fans” on responsibility as a user of social media

I’ve got a SXSW panel I want you to look at (oh yeah, it’s because I’m on the panel!).  If you like it, give us a thumbs up.  My fellow panelists are Tim Walker, Aaron Strout and Troy Nalls, and we’ll definitely knock your flippin’ socks off.

[Disclaimer: I do not support the popularity contest that many of these panel pickers encourage, so please ONLY vote for us and pick us if you actually think our topic is valuable...I'm serious]

Description:

The customer ISN’T always right. You want to love your fans (customers, commenters, activists) but sometimes they don’t deserve it. The bad fans who tore up Vancouver after the Canucks lost the Stanley Cup deserved jail time, not a Kumbaya approach. The same is true for the social-media-enabled communities we count on to buy our products and promote our causes. An analogy: Major League Baseball games are a lot more fun to these days because ballclubs started cracking down on fights and drunkenness in the stands in the 1980s. Have no pity for the jerks who got tossed: the rest of us are better off for it. Just as organizations should “think before they click,” users of social media have a responsibility to respect the very organizations that they demand respect from. This panel will follow the fast-paced, ultra-interactive style of 2011′s “The Steroid Culture of Social Media” to call for new thinking about the implied social contract of social media, for organizations and fans alike.

TO VOTE, GO HERE!

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    Quotes That Inspire Me and Why

    Looking for inspiration to improve your work can come from many areas — colleagues, customers, partners and even competitors. Inspiration can also come from reading, writing or simply going for an afternoon break to get your coffee. Sometimes inspiration can come simply from a quote. Here are a few quotes that guide how I view working in public relations and why.

    It’s not what you look at that matters, it’s what you see. — Henry David Thoreau

    It’s easy to get wrapped up int the tactics. In fact, how often have you heard planning meetings start with, “We really need a news release.” Breathe deeply. Whenever you get too wrapped up in the details and tactics take a few steps back. What is the big picture? What are you trying to achieve and what is it that you want to accomplish? Remember that we are trying to shape opinions and help communicate a message. While the details are important you need to know your endpoint first.

    If everything seems under control, you’re just not going fast enough. — Mario Andretti

    For those of you who know me I’m a long-time Formula One racing fan. I love the strategy, endurance and speed with the added challenge of racing in various climates and tracks from around the world. Andretti’s quote is a good one to remember that you always need to push yourself. Not to the extremes of career burnout or by sacrificing your personal life, but to the point that you should think about your work as wanting to win.

    A man is what he thinks about all day long. — R. W. Emerson

    Emerson could have written a book just of his quotes. There are so many of his that I like but this one stands out for me in terms of prioritization. Every day provides an opportunity to achieve your goals and objectives, but if you don’t know what they are when you come to the office then you are not using your time wisely. Good communicators come to work prepared every day to accomplish something. On the ride to work and over your morning coffee you should know the two or three things you need to accomplish today. Write them down. And do them.

    The most valuable commodity I know of is information. — Gordon Gekko (Wall Street the movie)

    Wall Street is one of my favorite movies about values and ethics. A great script and great acting. Wall Street 2, well, let’s not talk about that. This quote from Gekko in the first movie has always stuck with me, especially as my career early on moved more and more into working with technology companies. Information — not just facts, figures, dates — all matter to your stakeholders. Whether you’re presenting internally to product managers about using social media or pitching your latest announcement to reporters and bloggers, they all want information. You should anticipate all the possible questions you will be asked and be prepared with your data and arguments. From my experience, all of the best communicators I’ve worked with or for have always been prepared ahead of time with the information they needed. They also were the best at pushing me to get more information when I presented them with ideas.

    Every battle is won before it is ever fought. — Sun Tzu

    You can never be over prepared. You can always be under prepared. Before you make a client pitch or go into a meeting have you done your homework? Knowing how to use tools like Twitter, Google, YouTube and delegating tasks are all important skills to do your research.

    Do or do not. There is no try. — Yoda

    No list of quotes would be complete without Yoda. You should never feel bad knowing that you did your very best. While you can’t win every pitch or satisfy every client, you also should do so with your very best effort. Can you look back at your last project and say you did your very best? Could it have been better if you tried harder? What did you learn?

    So tell us, what quotes inspire you and why?

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    The Trust Economy

    HBR: What’s Your Social Media Strategy

    The July/August 2011 issue of Harvard Business Review focused on collaboration, and building a culture of trust and innovation. One of the first articles, “What’s Your Social Media Strategy?” shows four ways companies are using technology to form connections.

    It’s worth reading if you have time, but here’s a quick summary:

    The “predictive practitioner”

    This approach confines usage to a specific area, such as customer service. It works well for businesses seeking to avoid uncertainty and to deliver results that can be measured with established tools.

    The “creative experimenter”

    Companies taking this approach embrace uncertainty, using small-scale tests to find ways to improve discrete functions and practices. They aim to learn by listening to customers and employees on platforms such as Twitter and Facebook. Sometimes they use proprietary technologies to conduct internal tests.

    The “social media champion”

    This involves large initiatives designed for predictable results. It may depend on close collaboration across multiple functions and levels and include external parties.

    The “social media transformer”

    This approach enables large-scale interactions that extend to external stakeholders, allowing companies to use the unexpected to improve the way they do business.

    Organizations will tend to move between these to some extent, and the article suggests that companies with clear strategies should start in the predictive practitioner stage.  This means focusing your efforts in specific areas, for specific purposes, which I might say isn’t the path that many organizations will take (many take a variation of the “creative experimenter,” but that may be due to a lack of clear strategy).

    To get significant results, the author suggests that companies should develop large-scale strategies, such as a specific “social media champion” campaign. And, as you may have guessed, the “social media transformer” strategy can have the largest impact, but requires major, companywide changes. “The social media transformers we’ve seen often have broader social business objectives and view social technologies as a key enabler of – but not the final answer to – those objectives,” suggest the authors.

    Where do you fall?

    62% of executives cited say social offers the potential to achieve better customer loyalty and service levels

    Last week, Jive Software came out with a study that discussed how social marketing strategies are currently being viewed amongst executives. There were several interesting findings:

    • 78% of executives admit that having a social strategy is critical to business success.
    • 66% of executives believe that social applications for business represent a fundamental shift in how work will get done and how companies will engage with customers.
    • 62% of executives cite the potential to achieve “better customer loyalty and service levels” and 57% anticipate “increased revenue or sales” as a result of implementing a Social Business strategy.
    • 53% of executives believe they must adopt Social Business or risk falling behind.
    • 92% of executives and 82% of millennials believe that work-related web-based apps greatly or somewhat increased their productivity.
    • 73% of executives, 73% of millennials and 64% of general knowledge workers agree that social platforms will fundamentally change the way people share, connect and learn at work and with companies.

    While there are several conclusions that can be drawn from the body of statistics that was drawn from this report, it shows a clear increase in the use of social strategies and social tools to accomplish not only external marketing goals, but also internal communication goals.

    Additionally, the significant difference in commitment level for future social strategy implementation and the view of where executives see their company’s current social strategy could signify a low-level tipping point in adoption of social across all business sizes and types.

    While past statistics have been similar in terms of where executives view their company, the numbers that have identified a social strategy as “critical,” “fundamental,” or that they “must” adopt social have not been that high in past years. I’m guessing that the number of respondents who feel more comfortable about their social strategy will rise – perhaps significantly – over the course of this year.

    Don’t miss the cool infographic that Jive put together.

    Public Relations is…

    This post is inspired by a friend and trader who wrote this post: Trading is…

    Add your thoughts to the list in the comments section:

    An art and a science.

    Evolving as a profession every day.

    Becoming more and more data driven.

    A business skill.

    Always about building, fostering and strengthening relationships.

    A 24/7 job now.

    Balancing what’s best for the company with what you personally believe.

    Making people understand the complex by remembering the simple.

    Complex.

    Not writing press releases. Please stop asking us to solve everything with a press release.

    Like a game of chess.

    Stressful. Rewarding. Challenging. Exciting.

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    Trendsetting: Are You Ready for These Five Trends?

    There’s a very interesting blog post in today’s WSJ Tech Europe on five trends to watch for in the coming five years.

    1. Disruption to Business plans
    2. Big Data
    3. Internet of Things
    4. Privacy
    5. Talent Management

    You should take the time to read the post now and then come back here to add your thoughts. It’s a very relevant look at what is coming to your business. Are you ready as a communicator to deal with these trends? Here are my thoughts on what you should be doing if you’re not already.

    1. Disruption to Business plans: “Enterprises need to consider exactly what it is they do, and where the value lies.” As communicators our role is to not only help discover this value, but also to build a brand and reputation around it. The problem is two-fold: 1. Business plans and businesses are changing more quickly, more often and you need to have a team and plan that also changes quickly. 2. Competitors are constantly on your heels looking for ways to upend your business model.
      Your Checklist: Meet face to face with business managers at least once monthly; devise a real-time monitoring system; review your messages monthly to ensure your are on track
    2. Big Data: “The ability for organizations to gather, analyze and act upon vast amounts of data is at the heart of new business models.” Data should be at the heart of your communications model as well. As communicators we now have access to a number of data points — social sentiment, website traffic, ratings, opinions, etc. And guess what? There’s going to be more of it. Lots more. So what are you doing about it? Do you have your reports just blindly generate the same data points month after month? Or are you under the hood trying to make sense of it and altering your messages and plans?
      Your Checklist: Understand what data you have access to (NOTE: Go sit down with your website team); make sure everyone on your team understands the “business” value of measurement; take time to review the vendors in the space who offer analytics; subscribe to the following blogs: Metrics Man, Intelligent Measurement, KD Paine’s Measurement Blog
    3. Internet of Things: “There are currently about two billion networked devices connected to the Internet. Within a few years that is expected to be anything up to 50 billion…” So what are you doing about your mobile strategy? Do you have one? Is mobile integrated into what you’re doing already?
      Your Checklist: Find out what devices your customers are using (NOTE: Make this part of your discussion with the website team); see how much web traffic is coming from mobile; learn to write headlines better (NOTE: Think Twitter headlines)
    4. Privacy: Revisit point number two above. Our companies collect an enormous amount of data and businesses are doing more and more with publicly available data from services like Facebook and Twitter. You need to understand the risks associated with this for your organization and make sure you are thinking through how you will communicate your company’s policies around privacy.
      Your Checklist: When talking about product and service offerings make sure everyone understands the data/privacy risks; meet with your risk management team to discuss the implications
    5. Talent Management: Communication professionals of the future are going to have a broad background of international and business skills. One of the reasons I relocated to London was to build on my existing international business experience. But in the future, the job you may be competing for may not be against another public relations professional, but it could be a lawyer, or an economics professional, or perhaps even a mobile app developer. While the industry has fought for the past thirty years for relevance as a business function, the downside of winning that battle is that everyone else wants to get in on the action. This also means that as you recruit for people you need to think about getting the best and brightest with the skills to meet the four trends above. That may not be a traditional public relations professional. Regardless if you are hiring or wishing to be hired, don’t be boxed in by a job description.
      Your Checklist: If you are hiring don’t be boxed in by the recruiting’s template “job description” — hire smart people who will help you lead your business; If you are newly minted to the profession expand your horizons and your business acumen (I wrote earlier about that here); no matter what your experience level keep an open mind and focus on learning.

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    Integrating Facebook: A B2B Perspective of the Social Network

    We dipped our toes into social media very early when we began using Facebook in October 2007. The network has evolved several times over since and continues to become a better social tool for B2B companies (you can view our company page on Facebook here).

    We’ve recently taken our efforts with Facebook one step further — by integrating the comments capabilities onto our corporate website using Comments Box. With the Comments Box plug in, comments from visitors are now visible not only on our site, but also on their Facebook page as well. And yes, they can be moderated. The effect of this becomes wider distribution for our content in the social realm.  For example, if a visitor leaves a comment on our site where the plug in is used and checks the “Post to Facebook” box, the story now also appears in their Facebook news feed for all of their friends to see.

    You can read about how we are using this on our Idea Exchange blog. I would encourage you to read this post and then visit our site to see how we are doing this. And of course, you should try this out to see just how it works.

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