Showing posts with label Brave Business. Show all posts
Showing posts with label Brave Business. Show all posts

Tuesday, December 15, 2009

ReMix Tuesday with Lil Mogul October 2009

Great Expectations with Lil Mogul
by Lil Mogul

December is the month of reflection and today I wanted to revisit a topic I discussed on Tuesday, October 20th of this year. Every now and again we need to retrace our steps. According to the Google dictionary, we've been having expectations since around 1530, give or take a few years. The noun, ex•pec•ta•tion [ek-spek-tey-shuhn], has a number of meanings -- but I'm most partial to the following, especially when used in reference to the start of a new customer/client relationship: Often, expectation, a prospect of future good or profit: to have great expectations.

Being responsible for new business development, I can spend several months courting a prospective client. During that time, I'll have to prove to presidents and/or owners that my company (MEGA Management) is capable of representing Brand X, that we truly get their message, value proposition, and can manage an impactful PR campaigns that produce great outcomes -- not just "outputs" -- on ever-shrinking budgets. We'll have to jump through countless hoops and hold conference calls until the contract is signed, and then we're expected to be off and pitching posthaste!

Except there's one important thing missing from the above. An outline of expectations… Not from the client, but from us. I've actually given it a name: "The State of Expectations" It sounds rather arrogant at first, but it's become absolutely necessary when taking on new clients or even old ones in our age of "great expectations."

Why? Clients expect a great many things from our us -- PR, management, creative, sales we're all in the same boat -- but in many cases they can't or don't communicate precisely what their expectations and needs are. And left to chance, in an economic climate that's so highly strung, the smallest mistake or misunderstanding can become the impetus for losing a client.

So, S P E L L (IT) O U T for your clients beforehand. If we did that more often, perhaps we'd have more fulfilling customer/client relationships -- more clients for longer, as well as staff who felt more respected and appreciated, and overall, a stronger brand. Sounds pretty good to me.

So next time you're about to jump into bed with a new client, ask yourself if you're ready to wake up next to them every day. On second thought, don't. But you should be asking some things like this:

1. How quickly do you expect to appear in The New York Times or Essence Magazine? (Hint: this is a great indicator of realistic expectations… If the answer is 1 week, good luck!)

2. What are the five most important elements or tools needed to get the job done?

3. Do you see our relationship as a strict client/vendor transaction, or do you see this as a partnership?

4. How many PR, Marketing, Management firms (or fill in your industry) have you worked with before? Average length of engagement. (Hint: if the answer is five in two years, I'd politely decline.)

5. What are your benchmarks and milestones for effective services?

6. How much time are you (your team, certain staff etc.) willing to spend in being actively involved in our planning initiatives. (Hint: less than 1 hour a week and you're screwed.)

7. Press releases or meaningful coverage: Which is more important?

8. How comfortable are you talking with the press? Do you feel that "no comment" is an appropriate response? (Hint: part one should be Yes; part two should be No. If not, oh oh)

9. Do you have a basic concept of "PR 101", “Management 101”, “Promotion 101” and "Media 101"?

10. How important is communication to your company's operations? Rate from 1 to 10, 10 being most important.

Of course, these are just a few examples. Our actual statement reads quite a bit longer. Our ability to deliver a great product lies in our understanding of what clients' needs and expectations are, which in turn comes from their ability to communicate these accordingly. Simply going through the motions and assuming isn't enough.

Left unchecked, great expectations can lead to great disappointment. But it doesn't need to be that way if you're upfront and clear about the way your agency operates and what you expect from your clients. In fact, your clients must just love you a lot more for it.

Tuesday, September 29, 2009

Fortune Smiles on the Brave

The MEGA World of Lil Mogul
by Richard E. Pelzer II
aka Lil Mogul


As many of you know, Richard E. Pelzer Sr., Lil Mogul’s Dad and business mentor, would tell me, "no person or company can be great without first being brave." That statement always stayed with me as an entrepreneur. In an economy that's got a lot of businesses basing their decisions on fear, it's important that companies turn up the volume on their brave stance ... because no economic climate needs or rewards bravery more than one in crisis.

Scores of other brands were born and bred during economic slumps: Def Jam, Revlon, Charles Schwab, Microsoft, FUBU and MTV. At the start of the Eisenhower recession, April 1955, a salesman named Kroc inked a franchising deal with the brothers McDonald’s. And in 2001, another year of economic and social upheaval, Apple introduced the iPod.


Outlined below are a set of practices that can help drive your company bravest work, called "A Blueprint For Bravery."


1. Build A Brave Culture
Company philosophies are about as useful as a box of wet matches unless they're part of the culture. And a culture can't be brave unless its people are. The minute you get behind your own philosophy, you'll notice that brave people - clients and employees with extra fight in them - will start to find you. Building a brave culture can include exercises such as asking new hires to participate in random acts of bravery. Or instructing your planners write "brave criteria" into their briefs. A good employee is one who knows they're on to something when an idea makes them a little nervous.


2. Make It Real
Bravery's intangible. To make it concrete, give it a physical presence in the world. Start with an identity system that communicates your position clearly. For example, I write down my thoughts, I challenge myself to overcome my deepest personal fears, displaying them in frames on my office wall.


This isn't about dressing up the office. It's about committing wholeheartedly to the value you want others to embrace. By making this abstract quality real for you, you're extending the philosophy beyond work and into lives. And that gets poured back into your business.


3. Unleash Secret Weapons (In A Stealth Way)
An army that charges blindly into the fray isn't brave so much as suicidal. Before going to battle, arm yourself with intelligence, insights and brand strategy. Gather and examine all the data in collaborative, partnerships/client meetings. During these "Brave Sessions," identify the lethal "Weapon," or marketing strength, which you'll use to slay your client's marketing "Goliaths," or challenges.


Go deeper than your typical strength/weakness analysis, because when it comes to challenger brands facing goliath competitors, the best weapon will tend to be a secret weapon-an opportunity that hasn't been leveraged fully or at all.


4. Be Firm In Belief, Brave In Battle
Unless they have something to believe in a conviction that's bigger than the battle-armies will retreat. It's important to work with clients to develop a "Brand Belief," a guiding principle that gives creative’s and clients a greater sense of purpose and meaning. It's something to live up to, bigger than any one product or service.


5. FINALLY, Speak The Truth
Brave marketers can handle the truth. They rely on their teams to hold them accountable, to turn good ideas into brave ideas. They accept the cold truth about their own ideas for the sake of bigger, bolder solutions. And they step up to tell clients the truth for the same reason.


In business as in life, you can't teach bravery anymore than you can teach creativity. But you can establish a set of conditions that allows courage to flourish. And when you do, this otherwise immeasurable quality -- without which greatness isn't possible -- produces highly measurable results. I think Franklin D. Roosevelt said it best, and with perfect simplicity: "The only thing we have to fear is fear itself."

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