Posts Tagged measure
The Pareto Rule is an awesome tool and can be used in many situations. Here Paul Coles shares his insights with how companies focus on the wrong side of the equation at times.
When I left university I joined the British retailing institution that is Marks and Spencer, and of the many things that I learned about business, the most precious of all was that you set your business up for the 99% not the other 1%.
I know you are thinking what the hell is this guy talking about? So I will explain. Back in those heady days of the mid ’80s I queried why we were merchandising some of the most expensive product that was prone to shop lifting right next to the doorway. The answer was simple, 99% of our customers don’t steal, so make it easy for them to buy what they want, and don’t ever lose sight of this, setting yourself up for the 1% you will be destined to fail. This lesson is beautifully illustrated in a great book “Sway: The irresistible pull of irrational behaviour” by…
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Push Back: No Time
Recently I was coaching a new client on how to create new habbits associated with updating their web sites and other digital properties. To my surprise, this brought out a little push back about not having enough time to do some of the things this small business owner was being requested to do. All I was asking from the client was to put some 30 minute a day items on his Google calendar to remind him to do certain things each day.
So this got me to thinking about how to create more time in our day. As I was studying this problem, one of my old coaching sayings popped in my head. I would explain to the soccer players I coached, the game is “1% Ball – 99% Everything Else”. When we first start out learning we tend to focus on the ball, not the “99% everything else” we should be. The 1% is important, but if that’s all we focus on, then we miss all the rest.
Give me a few moments to explain how this works in business as I use this sports analogy.
Sports Analogy: Youth Soccer
I suggest if you want more time, you need to work on your fundamentals until they take up less time thus freeing up new time to do the more valuable things. Let me explain how.
When we are training youth to play soccer we focus on the basics: trapping, passing, and dribbling. These skills are not the most productive, but rather, because we need these to feel natural, almost second nature. What we want to focus on are the advanced topics: Space, Positioning, Movement, Awareness, Placement, Possession, Finishing, and Defending. In any given practice session, the more time we must spend on the basics, the less time we have to spend on the advanced, dare I say, more productive skills.
We can easily spot players who have mastered their fundamentals. “Head-on-a Swivel” is a term coaches use when selecting new youth teams each season. If we see a person who has their head up and focusing on the 99% of the game, we know they’ve mastered the 1% (at their level of play).
So we train on the fundamentals until they become so natural that we spend less and less time on them and more on the advanced topics I listed above. Each season we expect growth in the advanced areas, and it is very noticeable when a player still challenged with the fundamentals is placed in a game with those that have mastered it.
Master your fundamentals. This is what I am recommending you do in your business and private life!
Business Example: Calendar Management
Again, I suggest if you want more time, you need to work on your fundamentals until they take up less time thus freeing up new time to do the more valuable things. Since I’m talking about time, let me explain buy using a time management tool you should be using, your calendar.
Let’s just imaging a person who spends 75% of their work hours making sure that the remaining 25% of their work hours are fine tuned to perfection. I know this is hyperbole. No sane person would do this. But it brings up a valuable point. The more time we spend on administrative tasks the less time we spend on value added tasks.
In this example, if we can improve the administrative process and thus cut the 75% time spent in half, we gain 100% of productive time back. Let’s say this person takes 30 minutes to figure out the best way to deal with a 30 minute meeting request, we would then focus on setting up a system that allows new meeting requests to flow more naturally and not take up as much administrative time to set and approve.
In the up-coming posts, we will break this down further for you.
More to Come
Part 2 – Technology Tools
Part 3 – Action Items
In part three we talk about action items for you. These will be broken down into two parts:
- Short Term Assignments
- Routines and Goals
Leave some comments and tell me what you think.
- How to Let Go of ‘Shiny Object Syndrome’ in Content Marketing: Conversation with Melissa Harrison (contentmarketinginstitute.com)
- Time management tips that’ll work for your life (penelopetrunk.com)
- Boost Your Time Management Skills with These 9 Techniques (lifehack.org)
In “Success” magazine (Success.com February 2011) I found a great article on Jacky Chan. In this articles they list Jacky Chan’s 7 Traits for Success. I found his thoughts fit nicely into internet marketing as well. So I’m going to take his traits but add my own thoughts to each of his traits.
1) A willingness to crash and burn
I can’t stress enough that each internet marketer should try to fail, often, and big. Two phrases come to mind “Go Big, or Go Home!” and “Failure is an event, not a title!” Your embrace of risk might be the deciding factor that helps you find your niche.
2) A discipline for fitness
The key word being discipline. Fitness is needed for everyone, but in marketing, we need focus, intentional creative disruption. We often try many tactics for our clients. We need to perform our duties in such a way that our measurements tell us which tactic produced the results and then build on them.
3) A disdain for wasted time
As Zig Ziglar wrote in his “See You at the Top” recording your activities and understanding what it takes to create positive results in critical. Equally important is understanding what is not helping you create success. Avoiding time wasters are equally important then improving skills.
4) A need for alternative opinions
It’s important we seek out and study other disciplines and build on the lessons of those. Reading materials from other continents, or cultures. Subscribe to blogs from other marketers on other countries. Spend time discussing ideas on twitter or in blog comments. It will improve your ability to communicate your positions to clients and prospects.
5) A set of high expectations
Never be afraid to say “That’s not good enough” and demand more of the outcomes of your tasks and tactics. With internet marketing it often a series of “shoot, ready, aim” moments, but that doesn’t mean we can expect some impressive marksmanship!
6) An accurate moral compass
A marketer with no moral compass is simply a politician. Enough said.
7) A relentless sense of humor
By all means, have some fun. If you can’t laugh and laugh hard at your work, you will often find yourself ‘chasing rabbits’. I know we call it work, but push the limits, always create a version of your latest project that is an exaggeration of the client requirements. By creating this outlier, you will find your other ideas less risky and at the same time take some risks.
So which one of these traits caught your eye? Which of these traits are you doing well at? Which one of these traits do you need to work on? I’d love to get your feedback.
Enjoy! Good Hunting!
At some point with each of my clients the question will come up; Should I advertise here? The client, having seen how effective internet marketing can be, now begins to ask the age old marketing question of REACH. How do I expand my reach with this wonderful tool or environment? And if so, where? And if I stumble across somewhere, is this a good place to advertise?
Inside the question lies a misconception, a costly one. This misconception has been the death knell of many small business marketing plan’s attempts at internet marketing.
We hold these truths to be self-evident, that all ads and the locations they are found are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Attention, Re tension and the Guarantee of Profit.
Each failed attempt at increasing reach creates the awkward self-fulfilling prophecy that Internet Marketing doesn’t work in my business.
Russian Proverb: “Trust, but Verify”
The advice is simple, and profound. With each instance of advertising activity you must build in the process of measuring effectiveness. Internet Advertising has a distinct advantage over several other forms of advertising: rapid feedback. I think this is one of the reasons I like to work in the space.
Over time you will come to realize that certain activities produce results and others do not. The trick in moving forward is to build feedback loops into the campaigns so that your team and clients can understand the effectiveness of the new cost. Even more importantly, you will have the ability to answer the age old question; Should I advertise here?
The ROI Hunters hate to see wasted time in any fashion. Nor do we like to be the judge of anyone’s actions (unless we are paid for it), especially when reviewing waste since it is a subjective matter when it is tied to emotions or ignorance. Blogging straddle the fence of wasted time in a marketing sense when the blogging has no function or purpose as it relates to the client’s marketing plan. After all, Hunting ROI successfully never occurs when you are simply following a pack of other hunters.
18.6 Blog Entries
These are the number of blog entries Technorati reported occurred PER SECOND in the month of July 2006. We have reviewed some of these other blogs and found ourselves waking up, face planted on the keyboard, and drooling. If we could bottle this stuff, we could cure insomnia!
You Are What You Measure
This is a common phrase repeated in our client meetings. When our clients ask us “if we should be blogging”, we direct them to measurement discussions in the context of marketing goals. We try to provide examples of competitors that use blogs as daily ramblings from their president. Then we show them successfully executed attacks by competitors or comparable industries using blogs purposefully and with premeditation in marketing campaigns to defeat (or at least attempt to defeat) a competitor or brand (or possibly a search phrase if we are taking about search marketing.)
Blogging Is Cheap
The low cost of entry into this environment brings out all types. We try to make our clients and prospects understand that it is simply a tool, and not the silver bullet that some would have you believe. In the same way while building a house you would not use a hammer to measure the length of a board, you would not use a blog to complete certain (or all) tasks of your marketing plan. Good Hunting.