Posts Tagged ‘information’

4 More Reasons Why Strategy Isn’t Dead In The Water

Tuesday, February 10th, 2015

Saying strategy is dead is a sweeping generalization.4 more reasons why strategy isn't dead

I don’t buy the argument that strategy is a complete waste of time for every company, regardless of size or industry.

There’s no question that the world has changed dramatically and we have to change how we approach strategy.

But to say that we should stop doing strategy completely is throwing out the baby with the bathwater.

Two articles which appeared recently, one in the Globe and Mail and an earlier article in Forbes magazine, laid out 7 reasons why strategy is, or may be, dead.

Last week I commented on the first 3 reasons, here are my thoughts on the other 4.

4.  Competitive lines have dissolved. Strategy, it is argued, has long been based on well-defined market sectors, containing established competitors. Now a competitor is likely to come from an entirely different sector.

But is this a new phenomenon? Didn’t IBM, under Lou Gerstner, become an IT solutions provider?

5.  Information has gone from scarcity to abundancy. It is argued that the value of strategic planners and consultants lay in the proprietary, or scarce, information they possessed. Today, information is easily accessed via the web.

Commenting on this point one of the authors of the 2 articles said “It’s …….how you translate that information into actionable activities that is critical”. Isn’t that what strategy execution was – and still is – all about?

6.  It is very difficult to forecast (option values). Before opening a new factory, expected costs were compared to forecast revenues to see if it was a good investment. But, it’s argued, the outcomes of investments in, for example, the Internet of Things are wild guesses at best. Is this new? We’ve had to make educated (not wild) guesses about the unknown for years, e.g. the development of the Boeing 747, the world’s first jumbo jet.

7.  Large scale execution is trumped by rapid transactional learning. In the past, organizations could roll out improvement programs in a deliberate, staged fashion over a number of years. These days, it’s a whirlwind, and you must be learning all the time.

Recently I wrote about Rita McGrath’s book ‘The End Of Competitive Advantage’, which profiles 10 large, publicly-traded corporations that have found ways to combine internal stability with tremendous external flexibility and achieved remarkable results.

Have they abandoned strategy? No.

If whales can do it, so can minnows.

 

If you enjoyed this post you’ll also enjoy The Difference Between A Strategy And A Plan

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Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

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Attract More B2B Prospects with Content Marketing

Tuesday, October 16th, 2012

This week’s guest is Paul Heron, CEO of Complex2Clear, a Toronto-based communications agency specializing in proposals, content marketing and websites for companies selling B2B services.

 

If you’re reading this post, chances are you think strategically and work at staying ahead of your competition in innovation, quality, delivery and client experience.

But who, besides your employees and your clients, appreciates how much value you deliver? Do outsiders generally know and admire your company ─ or do you often find yourself starting from scratch when explaining your key benefits and track record to new prospects?

If you’re in the “starting from scratch” category, consider content marketing, a powerful tool for building positive awareness about your business.

Content marketing is the practice of creating and sharing useful information prospects and others can read, listen to or watch via blogs, e-newsletters, white papers, research reports, magazine articles, industry presentations, webinars, case studies, podcasts, videos and others formats.

The idea is to demonstrate that your company is innovative and expert, but also generous in spirit ─ willing to share valuable knowledge freely with others. You gain recognition for being both smart and approachable and become the logical first stop for anyone shopping for your products.

Content marketing is among the fastest growing trends in marketing (to prove this, Google the phrase). Once available only to large consulting and financial services firms with research and printing budgets, it can now be practiced by anyone with a website.

Sound interesting? Here are some tips and a high-level schedule to help you get started.

CONTENT MARKETING TIPS

Start with research: Where is your community online? How can you best reach them? What kind of information would prospects find useful? What frequency makes sense ─ for you and your audiences?

Focus on your core message: Remember, this is a marketing initiative, not a creative writing exercise. It’s critical that each piece of content support your brand. Creating random blog posts about whatever’s on your mind is not content marketing.

Start small: Don’t overcommit. It’s better to publish monthly (or quarterly) and increase frequency, than to start weekly and burn out in a few months. Decide what resources you have and fit your campaign to your capabilities.

Set up your website to support content marketing: Use a contact manager and forms to begin building a list of people to whom you can push your content. Enable Google Analytics, so you can see which site pages attract and retain visitors to guide your content development. Here’s a video and free website audit tool to help you in this process.

Manage information quality: Make sure every item you publish is valuable. Your growing list of subscribers following your content is a business asset. Protect it with a process that ensures they receive consistent quality. Assign one person to review all content before publishing.

Avoid infomercials: This shouldn’t need to be said ─ but never stray into advertising in your content marketing. Along with poor quality (see above), it’s the fastest way to burn off your audience.

Set goals: Content marketing takes time and money. Set goals, track your costs and measure results to ensure it’s a good investment of your resources.

SCHEDULE

1. Confirm you have the appetite and resources for a content marketing initiative. Be realistic. A content marketing campaign is a long slow process. If you can afford to, consider using an outside agency to supplement your internal staff.

2. Brainstorm ideas for content to share. Use a facilitator and generate lots of topics. Plan to repeat this exercise every few months.

3. Rank each topic’s potential impact and time/effort to develop. Segment high-impact topics into several items to increase mileage. Identify your priorities and low-hanging fruit. Plan to revisit important topics every 6 months or so with an update.

4. Identify a subject matter expert for each topic. Who will be responsible for each item? This person may not be the writer; he or she could generate bullet points and review the draft for accuracy and completeness.

5. Set your priorities, channels and schedule. Frequency is important. When managing resources, consider publishing shorter items to increase frequency. The aim is to be top-of-mind when a prospect needs your services.

6. Document your plan, assign responsibilities and deploy. Manage your content marketing campaign like any other business process to enjoy maximum success.

You can contact Paul at 416-619-9208 or paul@complex2clear.com

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