Friday, 26 March 2010

Necessity & sufficiency

The only thing I remember from Logic classes in first year Philosophy was 'necessity' and 'sufficiency' in conditional statements.  Of course in the years since then I've somewhat purposefully mutated the terms, adapting them to marketing consulting.  For example: -
For a product launch to be successful it is necessary to have a good product but that alone is not sufficient
This is more than a rhetorical device.  It helps keep a client discussion focused on those factors that have to be in place before starting a project; the genuine deal-breakers.

This is easily applied to staging of comedy night: -
For a comedy night to be successful it is necessary to have a functioning microphone and a decently lit performing space and whilst these alone are not sufficient, without them you're just another guy standing, yelling in the middle of the pub 
 What?  Quit showbiz?

Friday, 19 March 2010

Wow

I missed this story when it came out.

Red Letter Days v. Accretion

Life is slow in consultingland at the moment.  After a massively travel-heavy first ten weeks 2010 has slowed down dramatically.  I hesitate to say alarmingly.  It's the usual combination of postponed meetings, a decrease in the speed of clients' email replies and a consequent upsurge in my tendency to look for Red Letter Days. 

Human nature to attaches significance to points in time.  Every well-told story has its then-one-day moment.  We celebrate anniversaries and birthdays to reinforce this significance.  When my To Do List shortens I find myself combing my diary for upcoming events that I can turn into these Red Letter Days; high-stakes moments when I have to 'bring my A-game'.

After twenty years you'd think I'd know better.  We can celebrate success any way we want but rarely is it achieved in one fell swoop.  It is accreted.
accrete [v] grow by accumulation or coalescence
It is the days spent drafting and redrafting whatever it is you're writing and nights performing in unnoticed venues.  It is the expectation that a decent client base will be built over years not months.  It requires a combination of experience and circumspection.

That's not to say that Red Letter Days don't occur or that they aren't important when they do.  We have to bring our A-games to the job interview, the pitch to clients or investors, the presentation to the senior management team or why bother showing up at all?  But we can overemphasise their importance; if a Red Letter Day is all about downside then not enough has been accreted beforehand.

Thursday, 18 March 2010

Pricing in

Recently a banker friend was evaluating the performances of the major players in the UK's upcoming election.  On the subject of Gordon Brown's bullying he declared that the reason why this news had so little effect on opinion polling was that the electorate had already 'priced in' this sort of information.

'Priced in' is a bankerish way of saying that news is unsurprising.  I like phrase as it implies that an intelligent assessment has been made of the offer in question with a degree of tolerance included in the face of an uncertain world.

Buried somewhere in my pricing must be the fact that I don't work continuously otherwise my business is unsustainable.  This is where the trouble begins for the dilettante who looks at that first week's fee and immediately multiplies it by fifty-two.

Wednesday, 17 March 2010

Your Employer is Not Your Friend

I had two 'proper' jobs before I struck out on my own.  In total my tenure was just over three years, which was long enough to learn what should be a pretty self-evident truth: -
Your Employer is Not Your Friend 
In the mid-80's Unilever, my first employer, had an aggressively promoted Graduate Marketing Programme that roamed Australian campus Careers Days looking for soon-to-be marketing graduates like me.  I applied for the programme and was accepted.  As a 23-year-old Bachelor of Business with a major in Marketing and Advertising working for the multinational that produced roughly half of the brands sold in any supermarket meant that my career was off to a flying start.
I had chosen marketing for two reasons;  I had just enough self-knowledge to know that I didn't have either the maths or the patience for accounting, but mainly the vague idea that a marketing was the job where the advertising agency took you out for The Great Long Lunch.
My immediate problem was that the Graduate Marketing Programme took another 25 marketing graduates on the very same day as me, despite there being only five actual marketing roles on offer.  I got shoved into ‘Trade Marketing’ which is a sort of bastard son of sales and marketing that is all number crunching and report printing.  There were no long lunches only a boss with a bad haircut and an unenviable yet comprehensive collection of polyester officewear.  At least the word ‘marketing’ appeared in my job title – others were randomly dumped in sales, manufacturing, new product development and, in one especially unfortunate case, Occupational Health & Safety.
We learned that the programme was one big lie when we understood the myth of us being on a Six-Month Rotation.  Even then I could see it takes at least a year before a graduate accomplishes anything even vaguely useful and no manager is stupid enough to take on two new smug little incompetents every year whose only genuine thought is “When do I get to go to Rockpool?”
Closely aligned to The Six-Month Rotation Myth was The Great Overseas Posting Lie which worked like this; about three-quarters of the way through a successful graduate interview there’s a lull in conversation when the HR person leans conspiratorially towards the interviewee to ask in a hushed yet serious voice “How would you feel if we had to send you to say, London, for six months for work?”
The interviewee faces the stern challenge of suppressing an immense shit-eating grin whilst selflessly promising to be available for any and all overseas postings ‘for the good of the company’.  Internally The Great Long Lunch is upwardly revised from ‘Rockpool’ to ‘The River CafĂ©’.  The trick works in company’s favour every time because anyone who dreams of The Great Long Lunch (i.e. anyone in marketing) is a sucker for the prospect of overseas travel.
The beauty of the lie is that as long as the employee believes in it then it forms a part of the remuneration package.  For over eighteen months I truly believed I was but a heartbeat away from a Business Class ticket to Heathrow and that alone compensated for me being substantially less than my classmates who got sane jobs.  I shudder to think what a 24-year-old version of me would have done in the London office had they ever made good their threat, probably just stood around grinning inanely and crashing the mainframe if his cheerfully monolingual Japanese replacement was anything to go by.
To keep us happily underpaid all the company had to do was send a respected if replaceable employee on an overseas secondment every year or so.  When the ‘All Staff’ memo hit the notice board (this is all pre-eMail) the rest of us were torn between bilious envy and the internal whispering “I could be next!”
The theory behind the ‘Graduate Marketing Programme’ was that there were plenty more where we came from and this was annually proven to be correct.  The attrition rate was either horribly high or spot on depending on how you viewed it.  Most of us lasted less than five years in the company and I was gone in under two without ever leaving Trade Marketing.
 A couple of my intake did stick it out and both went onto greatish things.  If I was asked for adjectives to describe them I would settle on ‘patient’ and ‘unimaginative’; the exact words the business press use to describe the company overall.
The day I realised that I never likely to be on the short list for the long flight to London I felt underpaid.  A big part of our salary packages is hope and when that goes we generally follow it out the door.

Tuesday, 2 March 2010

Marketing-by-telepathy

The endless British winter this week brought a paucity of punters at gigs across London and the south of England. On a cliched foggy night I drove with a couple of comics to a once-a-month gig at a pretty little pub in an isolated village.  The landlord greeted us with a bizarre accusation: -
"Not many in tonight. Don't know why I bother with comedy. I got twice as many to watch opera last week and paid the singer half what you lot cost me."
Who were we to dispute this? The thirty (happily happy) punters who turned up to watch us apparently amounted to less than a third of the audience for the first foray into arias.  The comic in me shrugged his shoulders, did the gig, collected the fee and drove on home.

My inner consultant wanted to grab him by the lapels and shake some sense into the fool. Can't you see that you're blaming the acts for a lapse in your marketing?  How does that help us entertain the people who have managed to turn up and god knows how they did given that your sole promotional effort was a chalkboard listing our names inside the pub itself? Are you having the same whinge at your equally underwhelmed bar staff tonight?  Well done on the opera thing.   Maybe you've tapped an exciting new market of well-heeled culture-vultures or maybe you got lucky.  Either way I bet you spruiked the night a lot harder than the solitary chalkboard we got.

Marketing-by-telepathy. Why hasn't anyone thought of this before?