Category Archives: Marketing
Let’s start with questions | Are you 30+? When did you last learn something new?
Some of you may respond with all your wisdom by saying “everyday” as there is learning in every experience, and every day is a new beginning. Indeed that’s true. You can learn from people, observations, interactions, reading, mistakes, emotions, thoughts, actions, events, conversations, social media (FaceBook, Twitter, et al.), books, food, movies and life itself. It all depends on your thirst for learning, your ability to assimilate and absorb the lessons from everyday experiences and internalize these learning’s.
Some of you may respond with silence.
Let me now modify the question | Are you 30+? When did you last learn something new ‘formally’?
The vast majority would respond with a silence. This was my response too last year. Looking back at my own life, after I completed my management education at IIMB way back in 2006, I’ve not really formally learned anything new!
Here’s the thing | For many of us who are 30+, you are somewhat settled into things and an everyday way of life. Life pretty much revolves around work / career and family / friends. There’s really no time for anything else – especially if you are a woman or a working woman or a working mother!
Being a working mother myself, I was no different. However, the silence bothered me for a long time and I decided to take action. So here’s what I did. One, I enrolled for a paid professional technical certification exam. This meant intensive reading, learning something new and a tough examination to crack. Thankfully, I cleared and that enhanced my knowledge and resumeJ. That done, I registered for a MOOC (Massive Online Open Course) on Social Media Analytics. Being online and self-paced with only an end date to meet, this was again a great learning experience for me. The good part was that it also had an online assessment and I was awarded a certificate at the end of the course. Lastly, I took up a structured course on “Creativity”. And I loved it!
The whole practice of “formal learning” has been a wonderful personal experience over the past few months [apart from the fact that it also inspired this post :)]
So what did I learn from all these experiences?
You learn because you really want to learn – Up until you are 30, you mostly learn because you have to learn and because you don’t really have a choice. But for most of us after 30, formal learning actually becomes a matter of true personal choice. So you can learn what you love and what you really want to learn. And there is immense joy and great personal satisfaction in learning a subject you are deeply passionate about.
One of my closest friends wanted to learn a musical instrument formally for years but it just never happened. Now in her mid-30’s, she is well settled in her career and life and decided to take this up. So she enrolled into one of the best music institutes in the world to pursue her quest for this learning. At this phase of life, you can afford to fund your own learning and you may be able to afford the best-in-class teachers and best-in-class institutes. Looking back at my own life, I can definitely say that learning from the masters in any field is truly unique and an unparalleled experience. And if you can afford it, then it is worth your time and money!
There are so many things to learn – Whenever I speak to my peers and friends well in their 30+’s about formal learning, many of them ask me “But what to learn?” followed by “How to learn and Where is the time?”. I had these questions too. But as I discovered over the past few months there are just so many things you can learn “formally” based on your personal interest, even after you turn 30.
Let me list down things you can learn (apart from the things you need to learn for your career / work) – Cooking, Driving, Painting, Photography, Doing make-up, Puppet-Making, Pottery, Baking, Dancing, A musical instrument, A sport, Yoga, Aerobics, Calligraphy, Sketching, Caricature, Writing, Programming, Stoy-Telling, Marketing, Social Media, Public Speaking, Communication, Personal Grooming, Management, Magic, New Languages, Designing, Technology . You name it, and you can learn it – both offline / online. For e.g.: 10 years back who would have thought that the common Indian could learn dance from Madhuri Dixit. Today, you can from her online dance school Dance With Madhuri.
Another childhood friend of mine has always loved art and paintings but never got around to take this up seriously. Now that she is well into her 40’s, has teenage boys who are independent and is the Vice President of an international bank, she dedicates her week-ends to her art-work. She has a home tutor who teaches and guides her in her learning process. When I recently saw some of her paintings I was blown over! Each one of them was a true masterpiece.
There is value in formal learning – The best part of “formal learning” is you actually learn within a stipulated time-frame. So your knowledge base expands and your comprehension of old and new things is significantly increased. Of course, you can informally learn lot of things, and I don’t discount it at all. But for many of us in this phase of life, the challenge is that we start with great gusto and are just not able to keep up with the informal / self-learning for an extended period of time even if we are deeply passionate about the subject. So if you learn formally you are more focused and do make/ take out the time .The icing on the cake is that if you are awarded a certificate of course completion that is definitely a feather in your cap.
Now I know that value is personal and subjective, and to each his / her own. But there is something else that I do know for sure – Formal learning can add value to your resume, to others perception of you and most importantly, to your own perception of yourself. All three matter and do make a difference in the long run.
Learning provides opportunities for building new friendships and networking – In your 30’s, I can’t decide which is harder – making friends or keeping friends. Both have their issues and challenges, and many of us let-go of friendships and after a point we wonder who our friends really are!
One of the best things about formal learning in your 30’s is that you get to meet and interact with new people who have an interest in a common subject. So you can build new friendships and networks due to a common passion.
Last but not least, you feel good when you learn something new. Like the runner’s high, there is a “learner’s high” – I speak from personal experience here. You just feel happy, energetic, positive and really really good when you learn something new. After my first innings of my learning high last year, I have made a formal list of things I want to learn in the future, and I am pleasantly surprised to find the list size is increasing by the day! Honestly, I am fine if I learn one thing at a time or even one thing a year. But what I know for sure is this – I do want to be a lifelong learner.
And if this post inspired even one reader to learn something new, then that would be the best return gift in writing this!
Happy Learning. Learn, Laugh, Love – It is one life to live!
Originally published here
At the start of every new year, most organizations are abuzz with this word called “strategy”. Every one is talking strategy, reviewing strategy, attending strategy presentations, drafting strategies or finalizing strategies.. Sigh! I wonder how strategically successful all these people / companies are?
Don’t get me wrong here. Having been in the corporate world for several years now, I do understand and appreciate the importance of strategy, and how it can be critical in your growth, differentiation or success. But once in a way I also think it is important to step-back, go back to the basics and see what others have to say.
Sharing some words on strategy from the wise
“However beautiful the strategy, you should occasionally look at the results.” (Winston Churchill)
“Strategy formulation, then, is an ongoing requirement of good management. It is, to quote Michael Porter, ‘a process of perceiving new positions that woo customers from established positions or draw new customers into the market.’ This is a process you must permanently embed in your organization.”
(Harvard Business Review Blog Network)
“The essence of strategy is choosing what not to do.” (Michael Porter)
“A satisfied customer is the best business strategy of all.” (Michael LeBoeuf)
“A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.” (Jack Welch)
“There’s only one growth strategy: work hard.” (William Hague)
“The best CEOs I know are teachers, and at the core of what they teach is strategy.” (Michael Porter)
Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” (Sun Tzu)
“In marketing I’ve seen only one strategy that can’t miss – and that is to market to your best customers first, your best prospects second and the rest of the world last.” (John Romero)
“What business strategy is all about-what distinguishes it from all other kinds of business planning-is, in a word, competitive advantage. Without competitors there would be no need for strategy, for the sole purpose of strategic planning is to enable the company to gain, as efficiently as possible, a sustainable edge over its competitors.” (Kenichi Ohmae)
“In McKinsey’s world, all of life is one of two things: strategy or organization.” (Tom Peters)
“The real challenge in crafting strategy lies in detecting subtle discontinuities that may undermine a business in the future. And for that there is no technique, no program, just a sharp mind in touch with the situation.” (Henry Mintzberg)
“Strategy is not the consequence of planning, but the opposite: its starting point.” (Henry Mintzberg)
“In real life, strategy is actually very straightforward. You pick a general direction and implement like hell.” ( Jack Welch)
Its the close of another year 2013. And looking back, I can definitely say that Marketing is increasingly becoming a very important function across the globe – Be it books, schools, services, organizations, individuals, social media, e-commerce, consumer goods, etc etc etc – You name it , and there are ample examples of how marketing made all the DIFFERENCE! And organizations are cognizant of it! And with that, the role of the CMO (Chief Marketing Officer) is increasingly becoming more important and powerful!
But then there’s the other side of the coin. The one in which as a marketing professional – I can’t help but rant about the constant pressures, advice and suggestions on cutting marketing costs year-on-year!
Don’t get me wrong! Let me make my point with a few examples of situations which most marketing professionals typically face:
Scenario 1 – Its start of the year. The time when everyone in an organization does a grand budgeting exercise. And most marketing teams work on their plans and budgets for the year. In most instances, only a partial marketing budget approval in received ; And that too 1 – 2 months into the year (So precious time is lost!). After all, time is money; and since most marketing teams are lean – This “lost time” significantly adds up to “loss of productive and tangible output”
And then when any marketing expense is to be accounted, it needs “management approval” – which involves putting up a business case, and providing explanation of Why? – What? – How?. And then comes the “approval” / “questions” / “rejection” – Again, usually delayed (So precious time lost again). All the precious time lost in waiting for approvals is completely unaccounted!
Scenario 2 – Everyone wants to go Social. Everyone wants to have a grand social media presence. Everyone wants to drive customer engagement on Social media. And they expect the current marketing teams (In most cases – who have limited / no knowledge on Social Media) to make Social a success, with limited / no additional budgets at all. Does the math add up? Of course, NOT!
Social Media is a different “Beauty and Beast” – As you want to call it! And the beauty needs to be enhanced, and the beast needs to be tamed. And that’s not the core skill of every marketer – especially if what you do on Social is “real-time” and has “global reach and impact”. So the best way to do Social is to hire consultants to guide you on how to do it OR hire experts to do it for you OR Go slow on the Social strategy. Expecting current marketing teams who don’t understand Social to define a “brilliant Social Media strategy” for your organization may not in your organization’s best interests! And then, investing in the right Social Media tools also come at a price.
Whatever you pick – It comes with good & bad – Be cognizant of this!
So coming back to why I started this post - The point is increasingly a significant majority of individuals and enterprises want to “cut down” on “marketing costs“. Some of the most common explanation is – “Go online“, “Go social“, “Go lean“
yes Sir, yes Madam -
We can look at cutting costs,
We can go online,
We can go social,
We can go lean,
But they will still cost us – in terms of minds and time (people) and tools and technology (hardware and software)
And they will come at a price – in terms of gains and losses – of customers and brand-value
Are you willing to pick up the costs?
Are you willing to pay the price?
And yeah! Till then Do you want to consider calling your CMO – Cheap Marketing Officer instead?
“Business has only two functions – marketing and innovation.” BY Milan Kundera
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” BY Peter F. Drucker
“It is all about marketing; that is where the real craft comes in. The best actors do not necessarily become the biggest stars. And vice versa.” BY Dirk Benedict
“If you have more money than brains you should focus on outbound marketing. If you have more brains than money, you should focus on inbound marketing.” BY Guy Kawasaki
“Marketing takes a day to learn. Unfortunately it takes a lifetime to master.” BY Phil Kolter
“Give people what they want and they will like you for now. Give people what they need and they will value you forever.” BY Simon Sinek
“The sole purpose of marketing is to sell more to more people, more often and at higher prices. There is no other reason to do it.” BY S Zyman
“What really decides consumers to buy or not to buy is the content of your advertising, not its form.” BY David Ogilvy
Whats your favorite quote on Marketing? Leave a comment to let me know
In a recent discussion among fellow-marketers, there was a debate around getting the Online : Offline Marketing Mix right…
Some said “Online : Offline Marketing Mix should be 100 : 0″
Some said “Online : Offline Marketing Mix should be 80 : 20″
Some said “Online : Offline Marketing Mix should be 60 : 40″
Some said “Online : Offline Marketing Mix should be 50 : 50″
And it ended there. No one suggested that the Offline Marketing should exceed the Online Marketing…
After the discussion, I was mulling over this.. I mean in theory, we can all argue about the right Online : Offline marketing mix – And come up with very scientific, logical, analytical and data-driven explanations for our argument – And rightly SO!
Whatever one is trying to market – Books, Blogs, Products, Services, People, Organizations, Brands, etc.
Have we reached the level of maturity where the Online Marketing should be at the very least the same as the Offline Marketing mix?
Here’s my view – The Online : Offline Marketing Mix would typically be based on:
(1) Where you’re existing / potential customer’s are? At the end of the day, the purpose of marketing is to reach your existing / potential customer to trigger a potential sale. And the mantra for marketing success is to reach and connect and communicate with your customers.But firstly, do you know who you’re customer is? If no, then find out!
If you’re customer is going to be more receptive in the online world, then do marketing online.
If you’re customer is going to be more receptive in the offline world, then do marketing offline.
Take-away => Know who your customer is. Go where you’re customers are. Online : Offline Marketing mix is incidental
(2) Your industry ecosystem Every industry has certain dimensions which are unique to it, and create a distinct ecosystem. For e.g: The way you market agricultural machinery is very different from the way you market a book is very different from the way you market an IT service. And the online : offline marketing mix will be influenced by the industry ecosystem. Sure, you can innovate and leverage best practice from other industries, but the core of how in industry functions takes decades to change. So ensure you’re marketing strategy is aligned accordingly
Take-away => Align you Online : Offline Marketing mix in line with the industry ecosystem
(3) Your brand-image Every product / service has a brand. And a brand is really a “perception in the minds of your customer”. One of the factors that influences your online : offline marketing mix is your brand image. For e.g: When I was consulting a high-end designer fashion label, the designer mentioned that she DID NOT want to do too much online marketing as it could negatively impact her brand image. She had her reasons based on her clientele – And rightly so! So we devised a marketing strategy which had significantly offline marketing, and she continues to do well today!
Take-away => Brand-image is important, personal and subjective. Ensure your Online : Offline Marketing mix is in line with your current brand image, and the brand image you want to create for the future
(4) Your marketing objective Last and most importantly, what is the specific marketing objective you are working towards? Is it awareness? Is it customer engagement? Is it sales? Is it brand re-enforcement? Is it re-positioning?.. Whatever it is, your online : offline marketing mix should be aligned with this objective.
Take-away => Your Online : Offline Marketing mix should be in line with your marketing objective
In my view, there is no one and right answer. It depends on what you’re marketing objective is.
What do you think? Leave a comment to let me know