I believe it was Eric who turned me onto the Planningness conference and the prospect of a hands-on, working conference where attendees actually, y’know, interact with other attendees to do work and collaborate sounds incredibly appealing. I would very much like to give it a go sometime but in the mean time, here is a nice wrap up of some key ideas from this year’s edition.
Very nice global survey of planners:
Strategy can, and does, mean vastly different things to vastly different people. A good strategy is absolutely priceless which is why there is such a demand for excellent strategic planners in the advertising world. The flip side is that bad strategies, along with being ten a penny, can really kill your business, brand or campaign.
Which is why I really like this list, from McKinsey’s Strategic Thinking team, on what makes for bad strategy:
Failure to face the problem – to solve a problem, you must really hone in on and accept as an issue, the root issue you’re facing.
Mistaking goals for strategy – goals are great, but understanding exactly what is needed to acheive those goals is just as important. “Winning” is not a strategy. I liked this quote:
A leader may justly ask for “one last push,” but the leader’s job is more than that. The job of the leader—the strategist—is also to create the conditions that will make the push effective, to have a strategy worthy of the effort called upon.
Bad strategic objectives – either in the form of a (“long term”) laundry list or a “blue sky” restatement of the desired outcome.
Fluff – restating the obvious and often with buzzwords in a superfluous and unnecessary wordy, perhaps even pontificating style. Just like this bullet.
So what is “good strategy”, and how do we get there?
According to McKinsey:
Good strategy works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favorable outcomes. It also builds a bridge between the critical challenge at the heart of the strategy and action—between desire and immediate objectives that lie within grasp. Thus, the objectives that a good strategy sets stand a good chance of being accomplished, given existing resources and competencies.
There are some core components of a strategic plan, according to McKinsey, but do not mistake this list for the “fill in the blanks” templated approach which, along with the “inability to focus”, is one of the reasons for bad strategy in the first place:
- A diagnosis: an explanation of the nature of the challenge. A good diagnosis simplifies the often overwhelming complexity of reality by identifying certain aspects of the situation as being the critical ones.
- A guiding policy: an overall approach chosen to cope with or overcome the obstacles identified in the diagnosis.
- Coherent actions: steps that are coordinated with one another to support the accomplishment of the guiding policy. I imply from this that measurements of success are vital in all strong strategies
Pretty simple stuff. But as Seth says, simple is scary.
I found this study of colour and how each gender described it, fascinating.
A great reminder of how the same thing means different things to different people. Know your audience!
Secondly, the top 20 planning blogs are:
01. advertising lab
02. Noah Brier dot Com
03. Nick Burcher
04. We Are Social
05. The Musings of An Opinionated Sod
06. Only Dead Fish
07. brand new
09. The Curious Brain
10. Herd – the hidden truth about who we are
11. Adspace Pioneers
12. Get Shouty
14. russell davies
15. Servant of Chaos
16. Mike Arauz
17. Make Marketing History
18. Talent imitates, genius steals
19. The Hidden Persuader
20. Interactive Marketing Trends
from Plannersphere Top 20 – May 2010 – MisEntropy. Enjoy
Interesting stats from eMarketer – why do people follow brands in social media? Clearly deals are first and foremost in consumers’ minds. After all, we are in a recession and we are selfish species:
I’m disappointed to see that interesting or entertaining content is third on this list. I believe branded content is the future of marketing but I guess this is also an opportunity – there is just not a lot of good content out there being produced by brands.
From a more philosophical standpoint, I’m very much encouraged to see that consumers follow brands which they already buy from – that emotional connection is starting to be formed and consumers are feeling a sense of ownership over the brands they choose.The more “skin in the game” the consumer has, the more likely they are to buy from you.