Submitted by guest blogger, Maeve Naughton – Senior Manager, Field Marketing at Fluke Networks and Customer Reference Expert

In my younger years, if you were endorsed by someone, it meant that you were being recommended by them. Someone valued and approved of your services or work and were willing to stand up and say, “Yes, Maeve is a good bet! I’d hire her.” It was almost like a badge of honor. You wouldn’t endorse the guy you bought an apple from because you shared an email or even a phone call to find out where his apple stand is located. That would just be silly. You don’t really know anything about them. You might, however, endorse their ability to grow great apples, after you have tried some. Maybe you found value in the price of the apple, maybe it was the greenest one on the block, offered the most crunch, lasted a week without going bad. I think you get the point.

Things have changed, and change isn’t necessarily a good thing. LinkedIn’s endorsement feature is such a thing.

According to the LinkedIn blog from Dec. 18, 2012, “Endorsements are a valuable way to enhance your professional identity and is an even simpler way to help build the professional brands of your connections. And we’re seeing great reception, with more than 550 million endorsements given out since launch.”

What I would love to know is, how many of those 550 million endorsements are legit? To me it seems like the LinkedIn endorsements are a popularity contest. Maybe even the same idea as seeing how many Twitter followers you have.

Why do I keep bringing up “legit”? I’m not going to call out people specifically but every now and then I get a happy little notice saying “so and so has endorsed you”. Well that’s just fabulous. I dated him 10 years ago and he would have no idea what my press release writing skills are like. Or, I met so and so at a party and now they’re endorsing me for my “Marketing strategy”. Funny, because we never talked about Marketing, just different types of beer we both like.

Why do I care so much about what LinkedIn is doing with this new feature? I have years of customer reference experience and taking lightly what is seen as a reference, is, well, disturbing to me. It belittles the value of a reference. I get that it’s an easy thing to do, just click a button and you’ve ultimately acted as a reference for someone, but the real world of references isn’t that easy. Reference professionals are some very hard working folks. They make sure that the right reference is matched to the right opportunity whether it be speaking with an analyst group or speaking with a prospect. It’s not as easy as clicking a button and it’s done. Hopefully people are smarter and know that just because someone is endorsed doesn’t mean that they’re good at what they’ve been endorsed for. They need to look at the actual recommendations, talk to references, both ones provided and those not provided.

With all this being said, I do love LinkedIn and am on it a few times a day checking out the suggested news for me and seeing who is moving where and all that good stuff. It’s a great site, but I think they majorly failed with the endorsement feature. References aren’t as easy as a simple click.

Do you agree?


Big-Data-smaller

‘Big data’ is another one of those buzzwords that had reached the tipping point and is a topic that any business person worth their salt needs to be somewhat conversant on.

My clients have been asking me how big data fits in with their focus on understanding their customers using traditional tools like surveys and interviewing. As perplexing as the concept can appear to be, it’s really quite simple. Traditional tools still have a place in this new ‘big data’ world…

Understanding your customers’ needs and wants and getting inside their heads about what challenges they face so you can figure out how to be invaluable to them is hugely important to business success. This information is data, regardless of how you GET that data. Conducting your own surveys, interviewing your customers, or buying syndicated market data. Plain and simple, it’s just data.

Likewise, the information that can be collected about the transactions your customers conduct with your company is also data. Whether you mine your own databases for that information or ask your customers directly. It’s data.

Similarly, information you can get about the behaviors that your customers or target market exhibit BEYOND their interactions with your company and information about the environments/settings in which they do what they do is also data.

The farther you get away from your own interactions with your customers, the more likely it is that you will need to turn to other sources for the data, but it’s all just data.

‘Big data refers to data sets so large and complex that it becomes difficult to process using regular database management tools and applications that businesses would be using for their daily processes. There are specialized tools that programmers can use to basically wrestle down big data sets and find meaningful insights from.

But don’t get overwhelmed…again, data is data. And your approach to data shouldn’t change, regardless of how MUCH data you are dealing with. It’s very simple:

  • Define WHY you are collecting data…what are you trying to learn?
  • Decide what sources of data think will best address the ‘why’ (start small and expand later)
  • Figure out where you will store the data (start small and get more sophisticated later)
  • Set a plan for analyzing the data (how, who, how often, etc.)
  • Decide who needs to be informed about what you’ve learned (think across the organization)
  • Repeat…

 

The good thing about the focus on ‘big data’ is that it focuses businesses on HAVING data and using it to improve their business products and processes including marketing strategy, sales processes, customer support, product strategy, and more.

A recent Forrester report said that “To improve customer engagement, companies must invest in solutions to effectively manage big data.”

Businesses who look beyond producing cool products that customers ‘need’ and expand to a listening/collecting mode are always going to be more successful. It’s critical to constantly update your understanding of your customers and their world in order to stay relevant to them. If ‘big data’ gets businesses more aware of that fact, then ‘Viva le Big Data!”

Your thoughts?


In a recent discussion about obstacles to win loss research, we talked the fact that some companies just don’t do ANY research.

Some of the reasons that companies don’t do research:

  • Don’t trust their customers’ perspectives: Some companies are skeptical about their customers’ ability to be objective/overcome their biases.  Other companies consider their technology/concepts to be beyond their customers’ limited imagination.  Even the most innovative product companies have something to learn from their customers that will ensure that their products/services are delivered in a way that appeals to their target market (packaging, messaging, and more…).

 

  •  Think that research will take too much time: Research that is done over time vs. at one specific point in time can help ensure that no product launch or critical business decision has to wait for a project to be complete.  ANY insights you can inject into business decisions can improve the success of those decisions.

 

  •  Think that research will cost too much money: There are many ways to do research on a shoestring.  The simplest, least expensive research involves just picking up the phone and talking to your customers about how things are going, what their biggest problems are, and how you could continue to meet their needs.  Outside research resources definitely have their place when the research is large in scope and difficult to manage using in-house resources or when it’s important to have statistical levels of confidence in the data and/or an objective view of the data.

Companies who DO use research to gather insights about their customers are able to provide solutions that are targeted directly to a real market need and are more likely to win over their competition based on having the best understanding of what their market cares about and what messages will appeal most to them when positioning their products and services.

Companies of all sizes, from high tech to no tech can all benefit from listening to their customers and exploring the best type of research for addressing their immediate and long-term needs.

What obstacles have you seen stand in the way of companies doing research?  How has that worked for them?


I recently had the opportunity to facilitate a session at the inaugural Marketing Camp Silicon Valley and we explored win loss analysis: what is it, why do it, what are the obstacles, how to overcome them, and more.

Win loss analysis is one of the lowest hanging fruit for organizations, providing a relatively easy and quick way to get invaluable insights that have implications across the organization.  But very few organizations are doing win loss analysis…why IS that?

We came up with this list of obstacles…I’ll be blogging over the next few weeks about ways to overcome many of these.

First, there are the functional areas that can serve as obstacles:

Sales – doesn’t want to give access to their contacts, skeptical and even paranoid about the information that will be collected

Marketing – bandwidth

Product Managers – “we’re already done with the product so can’t do anything with the input”

 

Then there are the perceptions/mindsets that get in the way:

  • Companies that just don’t do ANY research
  • “It takes too long to implement win/loss programs.”
  • “We won’t get any good, deep insights.”
  • “It’s hard to quantify the results.”
  • “We’ll just get self-fulfilling results…the person who does the interview will hear what they WANT to hear.”
  • “No one will want to talk to us…they’ve moved on.”
  • “It will take too much training to do it well and make sure the interviewers do a good job.”

 

What obstacles have you seen that get in the way of companies talking to customers they have won and those they have lost?  How have you overcome these obstacles? 

If you’d like to learn more about win loss analysis, contact us for our “7 Good Reasons to Implement a Formal Win Loss Approach” white paper.


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