How is Triathlon Like Marketing? Part III - the Transition

As part of an ongoing series of posts likening marketing to triathlon, I've been reviewing some key similarities and how this analogy can help your marketing team perform like an Ironman.

In triathlon, transitions are those parts of the race where the athlete moves from one discipline to another - from swim to bike or bike to run (or the all-important from run to ambulance to beer truck!).  Races can be won or lost during these changeovers, with precious seconds ticking by as helmets get donned or swim goggles doffed.  In marketing, transitions are those phases where we implement significant changes to a key element of the marketing mix - perhaps a product introduction/deletion, a new distribution channel added, or an old sponsorship dropped in favor of a new one.  As with the sport, transitions are where you're most likely to see costly bobbles that change the leader board in significant ways.

The key to a successful transition is focus.  As we look forward to the next activity, it's easy to shift our attention to what comes next.  After all, if we've done well so far, we want to press home our advantage.  If we're behind, we want to make up ground and show that we can win.  But this desire to "get on with it" leaves us vulnerable to failing to close loops that are critical for moving ahead. This could be a simple failure to talk with an existing customer about how their future purchases might be impacted by the launch of a new product designed to replace the item they currently use.  Where a proactive call or visit might smooth the way for adoption of the new, playing catch up just means lots of unnecessary angst and an opportunity to competitors to move in.

How do you ensure that the transition goes smoothly, then?  First, take the time to plan in in/out phases.  Practice the plan (set up your bike and stuff on the ground and pretend to transition from swim to bike, for example) or virtually (get the critical staff together and have a walk through on who does what, when, who communicates updates, etc.).  Second, look for opportunities to reduce the complexity of the changeover. That is, remove unnecessary steps. Avoid scheduling other priority activities at the same time, and be sure everyone with a role to play will be available.  And lastly, design the change to take as little time as possible.  A condensed timeline means less opportunity for distraction.  Don't accelerate faster than the market allows, of course, just don't dilly-dally around.

A well-executed transition means you can add significant competitive pressure and increase the duration and effectiveness of your advantage.  As with all things, go in with a well-considered plan, execute according to your rehearsal, and keep your attention firmly focused on the here and now, even as you look around to make sure no one is getting away while you put on your socks.

Transitions - not glamorous or sexy, but absolutely important in maintaining and building competitive advantage. 

How is Triathlon like Marketing? Part II

With all the prep and planning that underlie success in both marketing or triathlon, the rubber really meets the road once the gun goes off.  The first portion of a triathlon is a swim.  The frenzy of arms and legs thrashing about is not too dissimilar to those first moments of a new product hitting the market.  There's confusion, relief at getting started, some blows to the head, and an understanding the critical mistakes made at this point will have a lasting impact, but may not be ultimately fatal - if you keep your wits about you.

Practically, there are some other similarities.  For instance, many times the swim takes place in a river or lake and involves a couple of changes in direction.  This requires that the athlete actually break form and look up once in a while to make sure they're on course.  In marketing, sometimes we're so busy executing our plans that we fail to look around and see what's happening - and by this I mean check the data that can provide real-time feedback so that we can, like the swimmer, alter our course if needed.  I've noticed that many companies have "swum" themselves into a giant pickle by not planning to look around and check the data periodically. They are simply committed to executing the plan, one step at a time, so they can check action items off the to-do list.  Bad idea.

For the triathlete, the data is simple - look up and see if the big orange buoy is directly ahead of you. For marketers, it isn't usually quite so easy.  Examples might include sales (duh), the number and quality of prospects at certain gateway points, conversion rates, press/review mentions, etc.  All in all, a combination of several data elements is typically the best idea.  The best part is that, unlike the swimmer, who when she checks her position she'll become less mechanically efficient for a short moment, marketers shouldn't see a measurable loss of momentum if they lift their heads up to look around - at least not if they've begun the process of execution with the thought of periodic position checks in mind.

The triathlon swim also presents another interesting similarity.  The muscles used in swimming are not, by and large, the same as those required for the bike and run.  Driving especially hard during the swim will require some amount of our energy reserves, sure, but tired arms and shoulders shouldn't keep you from running or biking fast.  Different muscles, different disciplines.  Marketing, especially for new product introductions, is similar in that the critical early efforts to build buzz, engage the thought leaders within the community, etc. require a different emphasis early than they will later on, once the product is fully established. 

The best marketers, then, are those that know a transition is coming as well as what the upcoming key activities will be and will prepare for them.  Transitions - the topic for next time.  Till then, keep the pedals turning and attack every hill like it wants to hurt your mama!

I'll Show You Mine If You Show Me Yours

I was in on a rather odd meeting the other day. A client of mine was meeting with a social networking team to add this important element to his opening, prelaunch marketing mix. The client wanted to have the team put a specific plan together with likely activities, goals/outcomes, and cost so that he could manage the effort and measure success. A fair and intelligent request, or so I thought. After my client articulated his needs, a very strange thing happened. The service provider wouldn't agree to provide any specifics.

"Surely he simply doesn't understand my client's needs," I thought. So I jumped in to try and add some clarity. No dice. Instead, we heard how difficult it is to measure this stuff, and coming with a set of expectations was counterproductive. That this work was organic and lots of things would get tried along the way. "Ah!" I said. "What might some of those 'things' be?"

"Could be anything," he said.

"Instead," he suggested, "why don't you tell me what you want, and then I'll do that. Usually my clients bring me something they've seen that they like and then we make it happen," he said, confusing me further. After all, these guys are the team that specializes in social media.

"You know, ultimately you'll just have to trust us to do this." Uh-huh. And I've got this bridge in Brooklyn I'm trying to get rid of, you know, for tax reasons. I wasn't about to stop.

"So what's an example of something that a client has seen and brought to you for implementation?", I asked, employing my best Perry Mason logic. I was going to pin him down yet. I could tell by the look in his eye that he had run out of room to maneuver. "Okay, maybe something like giving a book away to one of the people who've "friended" your company on Facebook." Eureka!

Turns out that the whole "avoidance" dance was driven by two things. First, my client had not fully expressed how he was going to pay the service provider for his insight and implementation. How they'd managed to have a half-dozen meetings prior to this one without that question resolved, I don't know. But I blame the service provider - always get that stuff clear at the beginning. Always!

The second reason, I hypothesize, was that the service provider didn't want to let the client know what happened inside the "black box", for fear that the client would take the ideas and implement them himself. That is something I see all too commonly from consultants and advertising firms. They hold onto every scrap of knowledge and IP as if each bit was as valuable as the next. Here's my take on that: your client doesn't want to steal the idea and implement it themselves. Who has time? Sure, some will try to do it, there's always an exception. But in my experience, entrepreneurs and small business managers simply don't have the time to learn how to implement a good idea. They want to pay experts to make things happen (usually involving ringing cash registers!) not learn how to manage social media or write code for a cool Flash effect.

Secondly, by protecting even 'generic' ideas/content as if they were the crown jewels, you diminish the value of the really good stuff. You miss an opportunity to a) demonstrate your expertise to the client, b) get the client on board with your service, and c) strengthen your own personal brand. Not to mention coming off like you simply don't have any ideas or don't know what you're doing.

Sharing something of value - giving it away - is becoming an increasingly important competitive tool in today's marketing environment. Access to all kinds of knowledge for free via the web is the new norm. But like giving a man a physics textbook doesn't mean it's likely he can actually build a rocket, sharing a bit of something you know about your field doesn't mean your client will put you out of work, either. So wise up and identify the real value you bring to your customers. Protect that core and use the rest to build prospects, clients, and good will. And for goodness sake, make sure you know how you'll get paid upfront.

The First Rule of Marketing

As with doctors, the first rule of marketing is to do no harm. It is tough enough to fight off competitive threats, environmental changes, and all the other enemies at the gate. There's no good reason to make things more difficult for yourself by making gigantic, entirely avoidable blunders. You might wonder if I have some particular blunder in mind. As a matter of fact, I do.

You may have heard about Wells Fargo and their planned junket to Las Vegas. If not, here's a portion of an AP story:

"WASHINGTON - Wells Fargo & Co. abruptly canceled Tuesday a pricey Las Vegas casino junket for employees after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.

The company initially defended the trip after The Associated Press reported it had booked 12 nights beginning Friday... by saying:

"Recognition events are still part of our culture," spokeswoman Melissa Murray said Tuesday afternoon. "It's really important that our team members are still valued and recognized.""

The branding implications are clear. Wells Fargo is saying, clearly, that "Our customers exist to serve us. We are paramount." The brand for this once venerable, long-standing banking titan is now as tarnished and as utterly valueless as any other. They had an opportunity, especially in light of AIG's epic blunder (doing essentially the exact same thing and receiving withering criticism as a result), to take the initiative, cancel all events, reign in executive pay and bonuses, and say to the American people, "We stand with you. It's an awful mess out there, but we'll get through it together." But no, that would have inconvenienced a whole generation of corporate executives that have come to believe that they actually deserve the perks, the bonuses, the unbelievable salaries.

I really was taken aback by their comment, echoed by Wall Street firms aplenty, that
"Recognition events are still part of our culture," spokeswoman Melissa Murray said Tuesday afternoon. "It's really important that our team members are still valued and recognized."

Recognition? What on earth might the senior management be recognized for? Nobel Prize winning new levels of ineptitude? Mismanagement so severe that they had to ask Uncle Sam for $25 BILLION? The recognition event that needed to happen was to have the board meet and 1) fire the senior management team and 2) resign for failure to oversee the juggernaut before the predictable train wreck.

So back to marketing. Your brand is your most precious asset. Everything you do impacts on your brand. Everything. Big things, and small things. Our collective perception of your brand is developed one person at a time. It's as simple as that. Once you cross a certain line, your brand, so carefully nurtured, becomes an albatross around your neck. Don't Wells Fargo your own brand.

New, Improved, and Cyberlicious!

As a practicing marketing guy, I find myself overcome with both opinions and questions about this great big wacky world of marketing, and more broadly, business, that we live in. Rather than simply rant about bad strategy, execution, or Britney Spears, I'd like to weigh in from time to time on critical topics related to the evolution of how businesses sell. I'm likely to come with as many questions as answers, but my goal is to highlight the challenges I face in my profession so as to generate a bit of dialog and maybe even a little consensus. Thanks for reading and for commenting. I'd like to hear what you have to say, too!