Thursday, October 6, 2016
- We have reached a critical mass of 1.78B gamers worldwide – but 81% of global workers are not engaged with their jobs. On top of that we are all taught to think the wrong way about games and play. The opposite of play isn’t work – it’s depression.
- When you start to play a game, there is a sense of optimism built in. Whenever you make a decision in a game and opt in to interactive play, two regions of your brain light up. The reward and motivation system in the brain tells you that the effort you are making actually matters.
- Positive design decisions that can be applied in a business context:
- On-demand chances to succeed
- Nothing is scarce
- People prefer collaboration, teamwork, and abundance as opposed to harsh competition
- Always know and go where the action is
- We can use the same strengths we display playing games to overcome business and individual challenges.
Women’s PowerCircle Tech Panel
- Discover the power of creating and maintaining an innovative tech team:
- Cabi has a “command and control center” in which certain colleagues are in the office every day.
- They created a virtual world for the rest of the team – which allows you to cast a very wide net without having an anchor to a specific location.
- Consider partnering with local recruiting companies, which is a positive investment of time.
- Create stickiness for the loyalty of the team members that you want to retain.
- Minimize impact of turnover by being proactive: recognize the signs of boredom.
- Discover what the direct selling business model needs regarding technology:
- We need to be nimble, and we need to be willing to change with advancing technology.
- Back offices need to be responsive, because people want to do their business on their smartphones.
- Direct sales is a face-to-face business, so when incorporating technology it must enable that emotional connection.
- Discover bridging social media, marketing and technology:
- This is a relationship industry, but today, the relationship is happening on social media and on smartphones.
- We call it social selling because it’s a more specific term for today’s direct selling.
- Independent sales reps should to use the 80/20 rule to keep social contacts engaged, not just blast them with sales and product assets.
Wendy Yurgo & Jade Charles
Interview with a Tech Instigator
- The joining together of the artistic world with engineering and code can be a strong and powerful instigating force.
- Oftentimes in business, the attitude is “us vs. them” in a competitive market. As a tech company, we rely on nuance in a business sense. Diving into specific points within a larger category allows tech companies to find a way to partner and work together.
- It can seem like a certain industry is already a saturated space, but that means technology companies are forced to innovate.
- How do smaller size companies who want to innovate mitigate the risk? Answer: you outsource it. How do you know that you’re in the right place and trust the tech company? Answer: be very clear on the results and focus on the results.
- With regards to social media and online presence, it’s important to focus on the communication and consistency in an authentic message.
- Technology advances are often driven by the technology users, especially if tech companies can passively collect feedback and honest feelings, and use that to innovate.
Move the Box
- A commitment to instigation and innovation is an absolute necessity for today’s direct selling company. But instigation implies provoking change, and people are naturally resistant to change.
- An idea, without the people, is just a wish. An idea PLUS people is an innovation. This equation is what makes things change.
- We have to come to accept that the fuel of big ideas is people. If we want big ideas, then we have to understand our comfort zones, be patient with “nudges” of progress, and build momentum.
- Today’s leaders in innovation must be just as masterful at “moving the box.”
- Know your roll: Visionary, Strategic, Team Player, Follower
- Success won’t belong to the best ideas, but rather the best ideas that can garner the most widespread support from both the teams building it and the consumer it’s been created for.
Friday, October 7, 2016
Internet of Things, a New Era of Computing
- PC Era = 100M human users.
- Internet Era = 1B human users find that processing speed is no longer an issue.
- Mobile Era = 5B human users connecting anywhere, any time.
- IoT Era = 50B users (humans + machines).
- With the internet, people and their computers are connected to servers. The IoT is what comes after that; it’s what happens when devices that are not considered to be “computers” get connected to the network.
- The IoT is here to make things better, and to collect and use the data to provide insights and improvements back to humans, as well as to other machines.
- The growth of the IoT is dependent on decisions made by humans and machines, influenced by analytics, derived from big data, and applied in real time.
- Who owns and controls all of this data? Huge businesses today are still companies or retailers, but really, they are data companies. They are tracking the social genome which is constantly evolving.
How to Win when Two Worlds Collide: Surviving the ‘Retail’ Impact
- With social media acting as a key driver for ecommerce, retailers are looking closely at influencers who can promote and increase sales – with the aim of creating a socially driven shopping experience. Creating socially sharable moments is especially effective for emerging brands and small shops.
- Modern subscription-based models bring the ability to get a person into a brand and make the experience so seamless that they stay a loyal and engaged customer.
- Social networks are becoming the middlemen between users and brands by adding value to drive conversions. It’s much more than just sharing opportunity – there’s a social function, which leads to a prospecting opportunity.
- Technology and the evolution of direct selling has brought the worlds of retail and direct sales much closer together. If retail models start taking a look at the way they do business and embrace onmichannel, while direct sales companies are doing the same thing – then isn’t our competition that much greater?
- Certain retail technologies have potential to drive business for direct sales, so companies can benefit from looking outside the industry for solutions and inspiration.
- Companies are transforming sales models to meet the evolving demands of customers, and opportunities are being repackaged to appeal to the largest generational workforce skewed toward entrepreneurship.
Asking the Right Questions: The Power of Analytics
- Optimizing growth and profits in today’s complex and highly competitive environment is an extremely challenging task.
- Companies struggle to find the right answers to business problems because they are frequently asking the wrong questions. Intuition based on business experience is still the driving factor in decision-making, leading to wrong solutions being developed for the wrong problems.
- In the age of big data, demanding customer expectations and increasingly aggressive competitors, companies should move from traditional and simplistic analytics and reporting solutions that provide a snapshot of the past (hindsight) to solutions that provide an accurate picture of the present and a prediction of future trends (foresight).
- The process involves understanding what happened, what is happening, why it is happening, what will happen next and, ultimately, how do we solve it?
- As a result, predictive analytics is one of the most powerful approaches companies can use to compete and win in the marketplace.
- Direct selling companies can significantly improve operational execution and business success by leveraging analytics to drive key business decisions.
Story-Teching: Using tech to create compelling experiences for live event audiences
- Storytelling is the way that we connect to each other and the way that we connect to our humanity. Technology has helped us to change storytelling and gives us a platform to build upon.
- Inspiration – “wow” moments brought to the audience through projection mapping
- Imagination – new experiences brought to attendees though altered reality and AR/VR
- Connection – made stronger for us through virtually enhanced performance and media-assisted theater.
- Helpful lessons learned include:
- Test the large scale projection mapping on an outdoor building surface at the right time of day to determine the perfect level of light and darkness.
- With any new technology, do mock-ups, tests, and build scale models to prove that the 3D projection mapping will work on a custom set piece.
- A trend is visuals with segmented parts, which actually keep audiences engaged – they use their creative thinking to fill in the missing pieces.
- Additional event trends include gesture media, LED lighting, multi-image display, touch-screen tech, cause based connections, and audience engagement.
Commissions, Moneyball, and the Cloud
- If commissions is the science of rewarding the right behaviors, how do you know if you are getting what you are paying for?
- How can we align commissions with behaviors to create successful sales reps?
- Moneyball – Story of paying for results: Pay based on the only thing that matters Wins/Sales.
- Direct Stats: Trackable activities that can be compensated.
- Indirect Stats: Only useful in context. Can’t directly compensate.
- Data that matters, cloud based, relevant, and available.
- Perform constant commissions plan review.
- Using cloud systems to help with design, review, and analysis is an ongoing process.
- Strive to align compensation with successful activities.
evolve + empower + engage + execute
- “What got you here, won’t get you there.” -Marshall Goldsmith
- Evolve: the example graphs of film camera sales and then total camera sales.
- “If you dislike change, you’re going to dislike irrelevance even more.” -General Eric Shinseki
- Empower + engage: know your audience. 94T messages were sent in 2015; 2.3T emojis will be sent this year; 80% of 16-85 year olds use emoji daily; 67 average daily text messages sent by millennials
- Time Spent vs. Ad Spend – there’s a $22B opportunity in mobile in USA.
- Execute: Fail fast. Sprint to failure; correct course; lather, rinse, repeat. Think in terms of next strategic actions. Plan less, execute more. Focus on your core competency. Focus on your field. Lead well.