Trust, worry and waste (a riddle)

Riddle me this, readers: How can companies stop the Web 2.0 worry? Here's a hint, the answer is really simple. In fact it's so darn core, it's Marketing 101.

Sure the act of marketing spans analysis, strategy, planning, implementation and optimization...but the purpose of marketing is, was, and will always be value creation.

Which means what? We need to focus on identifying opportunities so we can create value for our markets. Why? Because when we create value (that's valuable to them not just us) we no longer need to worry. Worry is such a waste of time when time-to-market is a critical success factor.

What's more? If we focus on gaining opportunities we're no longer focused on losing control, or customers. What's more better? New technologies create a world of opportunities to enter newly formed markets in which to gain market share. That's a lot of gain, opportunity and value. Not so much loss, worry and waste.

So why do so many companies worry? Because they don't trust the value they're creating is actually (gulp!) valuable. Net/net: When you worry you don't trust...but when you trust you don't worry (just trust me).

Told ya it was simple and yes I tell this to my clients. Why? Because I want them to worry less, create more. It's, um, valuable. The rest is just plain waste.

Want more riddles? Don't you worry, just go here.

Comments

[Tim Jackson]

It really is simple math- I agree. However, Riddler, how do we get these hesitant/ worried companies to shift their thinking? In my industry, cycling, many of these companies are just starting to expand pas websites and email. For such a technology driven business, as a whole, the industry is very slow to embrace change or take risks (even un-risky risks). How do we prod them into action without terrifying them or speaking down to them?

I ask because I really haven't found the answer on my own. I really, very sincerely, want to get them to make changes for the better of the entire industry. I mean, without solid changes, the business is sure to shrink and then I'm out of a job. So, altruistic as it all is... it still benefits me indirectly to try and help my comrades. Sounds kinda Socialist, huh?

[Ryan Karpeles]

Customers respect riskiness. They get bored with companies who play it safe and stay traditional.

At the very least, being "risky" and taking advantage of the Web 2.0 opportunities will give your clients something to talk about, interact with, and test out on their own. If they don't like it, you Listen to them and make changes if necessary.

I think the key to getting companies to stop worrying is to change their initial outlook from "Oh no, what if this sucks?" to "Oh cool, what else can we do to benefit our customers?" In other words, take the focus off of the company and put it back on the people it serves.

Once companies realize that Web 2.0 is primarily meant to help the customers, how can they not embrace it? I guess maybe if they don't even care in the first place...

[CK]

Hey Tim: A couple of things to try. First, send 'em the riddle. But then, since your job is value creation you might explain how you're looking out for the brand's equity (so others don't take it) and how, in adding value to the bike community, you're making Masi that much more of an MVP (and staving-off irrelevance - while irrelevance is a "shock and awe" argument it's very much a reality).

I think you guys have many markets (high-end and low-end, various regions) so to enrich those communities with valuable info. and outlets to bring the bike experience online (when they can't actually bike offline) might be of value. After all, biking is a lifestyle and mindset, not just an action. I say this from reading your site, my butt never goes on a bike, mind you, so if I'm wrong do forgive me.

You might also make the cost argument with them. These technologies are so darn cost-effective compared to other media that it lowers the risk. If they're really scared you might also suggest they align with an existing online effort that's not of competitive threat and bolster biker communities that way.

Plus...you've got ROI on what you've done through your site (masiguy.blogspot.com) and the industry site you created so you've already created an archive of metrics to use.

I'm happy to bat around some specific ideas with you either here or offline. Fact is, you've got a lot of angles/arguments/strategies you can make and you are UNIQUELY suited since you've had so much great feedback and success in this space in, what, 2 years in social media?

[CK]

Thanks Ryan: "I think the key to getting companies to stop worrying is to change their initial outlook from "Oh no, what if this sucks?" to "Oh cool, what else can we do to benefit our customers?" In other words, take the focus off of the company and put it back on the people it serves."

Yep, the "key" is to change mindsets from worry to opportunity. The time they spend worrying is the same time their competitors spend serving their customers. Yet co's spend gazillions on print and broadcast media...when they could apportion a percentage to dynamic communications that not only further their brands but give them invaluable feedback. Not THAT's the cause for worry, eh?

[Mario Vellandi]

"they don't trust the value they're creating is actually (gulp!) valuable."

Wouldn't testing for usefulness and beneficial effects be in order? For expected and unexpected consequences, positive and negative.
Perhaps integrated with your customer advisory panels (if they exist). Or your partners, if you're providing value to them.

If the company is wary (or curious) of new ventures in social media, what should we do? I would suspect we could provide case studies, benchmark competitors' efforts, and get feedback from select customers and other relevant parties. There should be a central theme - doing this for "them", not "us". I'm sure you Christina, can be the champion communicator of that core message.

[Matt Dickman]

CK -- Something else that I try to remind people about is this technology is not new. Blogging just turned 10. Message boards have been around since the start of the Internet. Web2.0 as a term just allows us to put a ribbon and bow on this stuff and call it something new. Perceptions of new = real fear.

Your main point here is *the* absolute key. It's all about creating value. Value for the companies exploring these "new" mediums and value for the people engaging with them. If one of those pieces is out of balance it doesn't work.

What works for me is to tell my story. I talk about who I've met, how it's helped me engage with new thought leaders, provide a resource to my company's clients, be out there to attract new clients, etc. But the key message in all of this technology is the personal nature of it.

Web2.0 is actually the elimination of technology boundaries. Interfaces are clean and publishing is a snap. Connecting one-to-one with customers has NEVER been easier or more cost-effective. What would it take for a company to run an ad targeted directly to me? I mean really personal (Cleveland, Ohio, married, 2 dogs, likes Malbec wine). It'd cost an absolute fortune. But doing that online by replying to a blog post or in a community allows that connection. It shortens the customer service cycle and deepens the connections.

Some people will never totally be convinced, but the technology is cheap. Start a blogger account, keep it private and test drive things for a couple weeks. Ask for feedback and then make a decision. People often see the value immediately and short-cut the experiment. Others can't handle it. It's always better to go down swinging.

[CK]

Hi Mario: Actually the "doing this for them" is the pivotal message/goal...tho' too many times co's need a "me" message. I understand companies need to know what's in it for them but they also need to continually be creative in providing value for their audiences. So many just need to switch focus and get back to the core of marketing (value creation).

Providing a beta version of programs is one way to "test" as you say or to start out walking (vs. running with a lot of promotion). Insofar as being a champion? I'd fancy that gig...or any gig that advances this medium and we marketers ;-).

Matt: You got a GREAT point on these technologies not being "new". Though for mass adoptions rates they are new--and definitely for biz's. I do like how you make the rationale/reasoning "personal" by bringing in your own experience an ROI. Good idea.

This is a particularly good line/theme: "Web 2.0 is actually the elimination of technology boundaries." That one has legs.