Wednesday, August 21, 2013

Clara Lippert Glenn, on Balancing Intensity and ‘Kumbaya’

Great Interview including a tip on hiring media and agency account executives. Philip Jay LeNoble, Ph.D.
New York Times: Business Day
By 
 
This interview with Clara Lippert Glenn, the C.E.O. of the Oxford Princeton Program, which offers training for energy industry professionals, was conducted and condensed by Adam Bryant.
Earl Wilson/The New York Times
Clara Lippert Glenn, C.E.O. of the Oxford Princeton Program, which offers training for energy industry professionals, says her husband’s death at the age of 56 influenced her change in style to promote greater work-life balance.

Corner Office

Twice a week, Adam Bryant talks with top executives about the challenges of leading and managing. In his book, "The Corner Office" (Times Books), he analyzes the broader lessons that emerge from his interviews with more than 70 leaders. Excerpt »
Q. When you were a kid, were you in leadership roles?
A. Not at all. The complete opposite. I was shy, introverted. You could make me blush just by saying my name. I just was not comfortable in my skin. I was the one who would sit in the middle of the classroom — never in the front, never in the back. I would rarely raise my hand. I didn’t like to draw attention to myself. In college, I probably really started to come out of my shell.
Q. How and why?
A. I’m not really sure. I became more aware that there were things I should be proud that I could do. You start to become familiar with what you’re good at, and decide to take more charge of your life.
Q. What did you study?
A. I was a language major. I studied three languages, but my major was Russian. My plan was to go work for the United Nations and single-handedly help solve the cold war. And when I graduated, the U.N. wanted no part of me. In fact, who wants a Russian major? Nobody did, except for the C.I.A., which was convinced that I could sit in a little cubicle and translate articles all day long, which I had no desire to do.
The life lesson was that it’s not what you think it’s going to be. So what’s your Plan B, and how quickly can you shift to Plan B? I had to shift really quickly. I did not have a Plan B. I was graduating, and I needed one. I had student loans to pay off. Then a great professor said to me: “You’re good at languages. You seem to like business. Why don’t you go get a business degree, but one that’s international?” I thought, “Well, there’s an idea.”
Q. What was it about business that interested you?
A. There was always a puzzle to put together. If you could envision the endgame, there was always a way to put together the pieces to get there. I loved that aspect of it. I loved being given case studies and problems, and trying to figure out how I was going to make this work.
Q. And after business school?
A. I was very lucky to get into the energy industry as a trader. I loved it. I’m a little competitive. Actually, I’m very competitive, and it was an environment where people were measured day by day on how well they’re doing. I really like that.
Q. You eventually started a company that trains people on the energy markets. So let’s say you’re on version 5.0 of how you lead now. How did you evolve from version 1.0 to today?
A. Version 1.0 was scared to death. I’d been given money by the venture capitalists to do this, and I had to make it work. I was probably too rough. I was too strict and very intense.
Version 2.0 then became too soft. Too “kumbaya.” So Version 3.0 tried to marry the two and be tough but fair, and set expectations. I would tell people: “Here’s what works for me. I don’t like surprises. I cannot stand an e-mail that is more than a page long. If you can’t say it in a page, then you shouldn’t be e-mailing me; you should be coming and talking to me.” I set out the guidelines for working with me.
Version 4.0 became far more cognizant of the need to not be afraid to admit that a certain employee isn’t happy. Can we make them happy? Is there another role? Or is this not the right organization for them? And that’s a tough thing, because you’d like to think: “Well, this is the best place in the world to work. How could anybody not want to work here?”
And now 5.0 has come to realize the importance of culture, environment and work-life balance. I’ve seen employees overwork. But a well-adjusted, well-rounded employee, in the end, is going to stay with you longer and produce better work. It’s not worth it to push people to where they’re putting in 12-hour days. And I’m going to force you to take your vacation, and I don’t want to get e-mails from you while you’re on vacation.
Q. What triggered that shift in thinking?

A. My husband passed away. I was 48 years old and I was a widow. He died when he was only 56, and he was working like crazy right up until he died.
Q. You talked earlier about some things you make sure your employees know about you. What else?
A. I understand everyone’s need to vent. If you tell me that’s what you need to do, I’m happy to sit there and listen. But don’t whine. I like to be around positive people.
Q. Anything else that people know not to do at your company?
A. I’ve banned the use of the “blind copy” function in e-mail. It can be a little infantile. Why would you use it? If you want to say something, and you want people to know you’re saying it to me or someone else, everybody should be addressed in the e-mail. You want to work in a place where you feel you have value, and that people aren’t talking about you behind your back.
Q. How do you hire? How would you interview me, for example?
A. I want to know about you. I want to know what you do, what your habits are at work, what your habits are outside of work. I want to get to know you as a person. I also want to know the best boss you ever worked for and the worst boss you ever worked for, and what made them that. Because that will tell me a lot about what you expect when you walk into an office, and what you’re hoping to get.
I also learned a question that I only ask people I’m interviewing for a sales position: “If you woke up tomorrow morning, and there were no humans left on the earth — just animals — what kind of animal are you?”
A good salesperson is going to be a predator. They’re going to be a lion. Somebody once said velociraptor. I said, “Oh, I like that.”
Q. And what kind of animal would you be?
A. Great white shark. I’m scared to death of them, so why not be one? You’re the top of the food chain.

Monday, August 19, 2013

Radio Ad Revs Flat, Digital Ads Rise

MediaDailyNews

by , Aug 16, 2013, 4:49 PM
Radio advertising revenues were unchanged in the second quarter of 2013 compared to the year before, according to the latest figures from the Radio Advertising Bureau, which tallied total revenue at $4.66 billion.

Spot advertising, long the mainstay of the industry, was also flat at $3.74 billion, as were off-air revenues, steady at $407 million, while network advertising slipped 4% to $285 million. 

As in previous quarters, the main bright spot for radio was digital advertising, which saw a 16% year-over-year increase, to $222 million.

Communications advertisers dominated radio spending, continuing a trend seen in previous quarters, with a 27% increase over the second quarter of 2012. AT&T, Comcast, and T-Mobile taking the top three spots in terms of dollars spent, while Verizon took fourth place (after McDonald’s) and Sprint was in eighth place; all five companies increased their spending substantially over the second quarter of 2012. The other spots in the list of the top ten radio advertisers were held by PepsiCo, in sixth place, Safeway in seventh, Walmart in ninth, and Geico Insurance in tenth.

Automotive advertising -- a strong category for radio in previous quarters -- dipped 11% in the second quarter, despite healthy growth in car sales, including a 9% jump in June. Beverage advertising also slumped in the second quarter, dropping 15%. On the positive side, spending grew in casinos and lotteries, up 4% in the quarter, due mostly to heavy promotion of state lotteries, concerts, theaters and movies, up 7%.

While also positive, digital advertising remains a fairly small part of radio’s overall business, with the $222 million in reported digital revenues representing just 4.7% of total ad revenues. The biggest boost in local ad revenue for 2013 according to a number of local market management reports has been attributed to a 29 year old proven sales training program called System 21 which focuses on local-direct ad revenues.

As FTC Reviews Nielsen/Arbitron Deal, MRC Accredits Eight Major PPM Markets

MediaDailyNews

by , 10 hours ago
Media industry ratings watchdog the Media Rating Council this morning announced it has accredited Arbitron's portable people meter (PPM) ratings service in eight major markets. Normally, such an announcement might seem perfunctory, but coming as the Federal Trade Commission completes an intense antitrust review of Nielsen's proposed acquisition of Arbitron, which may come down to a consent decree involving what it does with the Arbitron’s PPM service, the accreditation takes on added meaning.
 
"Arbitron has clearly made progress in meeting MRC requirements, particularly in most of the larger PPM markets,” MRC Executive Director George Ivie stated in the announcement disclosing accreditation to eight new markets including Cleveland, Dallas-Ft. Worth, Denver-Boulder, Detroit, Miami-Ft. Lauderdale-Hollywood, Pittsburgh, Portland OR, and Nassau/Suffolk (Long Island).
 
The MRC said it was also continuing accreditation in eighteen previously accredited markets -- Atlanta, Baltimore, Charlotte-Gastonia-Rock Hill, Chicago, Cincinnati, Houston, Kansas City, Los Angeles, Milwaukee-Racine, Minneapolis-St. Paul, Philadelphia, Phoenix, Riverside-San Bernardino, San Antonio, San Diego, San Francisco, St. Louis, and Tampa-St. Petersburg-Clearwater -- bringing the PPM’s total accredited coverage to 26 markets.
 
“The MRC voted to not grant accreditation at this time in the remaining 22 PPM markets,” the council said. While Nielsen executives have maintained that the FTC’s review of its proposed $1.26 billion acquisition of Arbitron is going smoothly and is on course, the FTC is currently conducting its second round of investigations and no final date has been set for its recommendations.
 
According to executives familiar with the review, it is likely that Nielsen will have to agree to some kind of consent decree assuring that the PPM will be available to other third parties to license.
Among the ad industry’s highest profile media research initiatives currently is a test of a “multi-platform” measurement system 

Tuesday, August 13, 2013

Gap Woos Gen Y With 'Back to Blue'

While the following doesn't help you generate local-direct dollars for you it is a strong indication of the importance of Gen-Y...aka Millennials to local clients who may have, heretofore, not wanted to go after the next biggest spending generation next to Baby Boomers thinking they were too young. This is the group born in early 80s to 2000 and have plenty of money in their pockets ready to spend...Philip Jay LeNoble, Ph.D.

Marketing Daily
by , Yesterday, 4:35 PM

In its latest step on the comeback trail, the Gap is returning to its denim-and-chambray roots, wooing Millennials “Back to Blue” with the biggest marketing campaign in its history. It marks the San Francisco-based company’s first time on TV in four years. 
The campaign -- which comes on the heels of strong second-quarter sales results --also includes print, outdoor, direct, social, in store, and digital.
 
"Back to Blue means getting back to what matters most -- our truest selves, when we are most comfortable in our own skin," says Gap CMO Seth Farbman in its release. "It's both a statement of how we feel as a brand, and how our customers want to live their lives and make their decisions.”
 
Much of the collection harkens back to the brand’s 1969 design roots. The effort includes a commitment to new digital content on a daily basis. 
 
In addition to FacebookTwitterPinterest, and Instagram, there is a Tumblr contest, encouraging consumers to create content, with the winning work earning a spot on Gap's Tumblr, which will then be turned into Tumblr mobile ads. Gap says it’s the first time a brand will own all of Tumblr's mobile ads in one day.
 
Gap is also beefing up content and adding video to its Styld.by platform, now in 30 counties, which partners with bloggers and style experts to create fall looks. There’s a series on style from Jenn Rogien, the costume designer for HBO's "Girls," for example. And it also includes features from 24 Gen Y style setters, including Tanisha Long from MTV's “Girl Code” and “Urban Bush Babes” blogger Cipriana Quann,  “sharing simple, raw and relatable stories about what it means to be one's most authentic self,” it says. In the series of photos, short films and gifts, each appears in a favorite piece from the new fall “Back to Blue” collection.
 
Print is running in Vogue, Lucky, InStyle, Glamour, and Vanity Fair in the U.S.
Plans also call for the creation of 10 outdoor murals, “Art of Blue,” in New York, San Francisco, Los Angeles,  London, Paris and Rome. 
 
Gap says its sales for the quarter gained 8% to $3.87 billion, compared with $3.58 billion for the second quarter a year ago. On a comparable- store basis, they rose 5%. And sales for July rose 5%, with comparable store sales gaining 1%.  While sales rose at both Gap and Old Navy, they declined a bit at Banana Republic.
 
“We are pleased with our second-quarter performance overall,” says Glenn Murphy, its CEO, in the announcement, “and we’re focused on continuing our momentum as we move into the second half of the year.”

Acxiom Partners With 4Info For Mobile Retargeting And Attribution At Household Level

Mobile Marketing Daily

by , 9 hours ago
One of the largest data and analytics providers to major brands, Acxiom is offering companies the ability to retarget their customers with mobile ads and offers. In a partnership with mobile ad tech provider 4Info, Acxiom customers will be able to match their first-party CRM data against 4Info's database of devices. By targeting a mobile ad campaign only to their own customer base, the marketer should then be able to see the impact of the campaigns on users through actual sales, the companies say.

“We have 152 million devices in 101 million homes,” says 4Infro CMO Chuck Moxley. The company uses a wide range of historical data along with geolocation to associate devices with specific households. In a client's Acxiom Collaboration Targeting Suite, the 4Info AdHaven Bullseye product will be available to match CRM data against these households and deliver campaigns to the devices in them.

While the 4Info platform does not identify specific users within a household, Moxley says that the model usually maps well against the household level tracking that CPGs and other consumer brands often use. “In most cases we find purchase decisions are household decisions,” says Moxley, although an advertiser can also target demographic segments within a household. 4Info says that by matching devices against households rather than people, the approach does not expose any personally identifiable information.

Moxley says the partnership embodies the AdHaven Bullseye model the company has rolled out in recent months that uses household targeting that then can be tracked back to purchase. “We know exactly which households we served ads to,” he says. “That data goes back to Acxiom and they can correlate it back to purchase data to see if people exposed to a mobile ad are purchasing more than those who are not exposed to a mobile ad.”

The companies also claim that the retargeting can achieve scale by working across the mobile Web and app platforms as well as Android and iOS operating systems. 
 

Monday, August 12, 2013

Millennials - Overlooked And Misunderstood

 
 


Engage: Moms

By Maryanne Conlin Wednesday, July 17, 2013

 




A recent study by Weber Shandwick really highlighted how brands are often missing the mark with Millennial Moms.  Overlooked because of the peculiarities of online marketing and misunderstood because of the dramatic shifts in lifestyle experienced by this seminal generation.

An oddity of online marketing is that you often don’t have good handle on the age of your most ardent fans and brand advocates.  You know they are connected and are thought leaders in their community, but often key demographic information is inferred rather than gathered.  Interestingly enough, psychographic information is much easier to collect than, demographic, the marketing mainstay. This leaves us oddly unprepared to address the needs of a new generation.

Lifestyle brands are perhaps better at this than those that specifically or primarily target moms as the purchase decision maker. But, not aligning brand image with the changing lifestyle led by Millennial moms leaves a brand vulnerable to being irrelevant in a few short years.

While we tend to characterize Millennial moms (age 19 – 30 or so) as digital natives, there is much more that differentiates them from older generations than just their savvy online.  The study points out a few that every brand should consider.

1. Millennial Moms Experience Motherhood Differently  - Millennial Moms are about as likely to be stay-at-home moms , but twice as likely to be single and more likely to be the major contributor to the household income than older moms.

2. Millennial Moms are More Collaborative in Grocery Purchase Decision Making – while Millennial Moms are just as likely to be living in a household of 3 or more people as older moms, the much higher rate of single/never married/not cohabitating with a partner moms, may mean multi-family or multi-generational households.

3. Millennial Moms are More Diverse – Racially, culturally, by marital status and income, Millennial Moms that brands are trying to reach span the spectrum in ways that older moms do not. Millennial moms are culturally more accepting and twice as willing to pay for life management assistance.

We’re probably just seeing the tip of the iceberg as a rapidly changing culture means a redefinition of what it means to be “the mom”. Brands that make an effort to get to know her, remarkably easy online, once you start looking, won’t be caught off guard when the vanguard becomes the norm

Proof That Failure Is the Key to Success

INC.
By Peter Cohan
August 11, 2013
Updated From July 12, 2013
I teach strategy and entrepreneurship at Babson College. Its undergraduate entrepreneurship program has topped the U.S. News & World Report survey every year in the last 20. Babson asked me to create a new course: Foundations of Entrepreneurial Management.

And if a student asked me the most important thing the she had to know by the end of the semester, I’d tell her that to achieve start-up success; you must fail over and over again until you learn what you need to succeed.

Failure: The Cold, Hard Truth

Before getting into the details of why this is so important, consider these statistics. Based more on the collective wisdom of venture capitalists I’ve interviewed, your odds of achieving start-up success on a large scale -- meaning starting a company that is worth at least $1 billion -- are about one in 10,000.
The logic behind this is that I have spoken with many VCs who talk with about 1,000 entrepreneurs for every one or two that they fund. This means that the other 999 or so, either get funded by another VC, find some other way to get capital, or shutter themselves. And out of every 10 companies in a VC’s portfolio, the general thinking is that one of 10 ends up being extremely successful, two or three more do reasonably well, and the rest close down.
Since April 2011 when I started researching my book, Hungry Start-up Strategy, I have interviewed at least 200 start-up CEOs. And one of my favorite recurring themes from those interviews is how so many successful start-ups failed over and over again before figuring out how they could succeed.
Three such stories come to mind-- pay service PayPal, team productivity enhancement app-maker Collaborate.com, and recruiting software as a service company Bullhorn.

Case Study: PayPal

The first is PayPal. Surely you have heard of this e-payment service that eBay acquired for $1.5 billion in 2002. What is interesting to me about PayPal is that one of its co-founders, Max Levchin who is now chairman of Yelp, told me that he originally started Confinity -- one of PayPal’s predecessor companies, to provide operating and systems software for the Palm Pilot, a handheld device that was very popular in the 1990s as a place for people to store all their contact information.
One of Confinity’s features was the ability to make payments online. Levchin kept receiving emails from eBay users who asked him to develop that feature to make it easier to pay for items purchase on eBay more securely. But Levchin ignored those emails from users for six months because he wanted Confinity to be a Palm Pilot operating system company.
But ultimately he abandoned his idea and focused solely on the eBay payments technology. In 2000, he merged Confinity with another payments company, X.com, co-founded by Tesla CEO, Elon Musk and eBay bought PayPal two years later.

Case Study: Collaborate.com

On July 9, 2013, I heard the story of Collaborate.com from Matt Cutler, who started Kibits in January 2011. “We had a general idea that we wanted to create private groupware that would be a Swiss army knife of functions -- Dropbox, social networks, and work-related activities. We were ahead of the market on social but we found pockets of intense use.”
Those pockets were in the area of business collaboration. According to Cutler, “Business teams told us that it was great for collaboration. They said, ’It is organized the right way. Please add these features.’”
Now Collaborate.com is booming. As Cutler explained, “We are enjoying triple to quadruple digit growth. Active users, registrations, average purchase price -- all our operating statistics are up and to the right.”

Case Study: Bullhorn

On July 15, I spoke with Art Papas, CEO of Bullhorn, which provides software as a service to employee recruitment firms. Papas started Bullhorn in 1999 but it was not until 2008 that he really figured out what Bullhorn was good at.
He failed in his attempt to make it a platform for connecting freelance workers with employers and at turning Bullhorn into a provider of software to help procure creative services.
But Bullhorn stumbled onto a problem that led to a very successful outcome. Papas met “Mike O’Donnell in Woodbridge, New Jersey who was willing to pay us to build a database for his recruiting firm to keep track of his operations over the Internet. Based on that, we were able to raise $750,000 from our original investors.”
By solving that problem, Bullhorn put itself onto a path to a profitable sale of the company to a private equity firm that leaves Papas still in charge. “We now have 6,000 customers in 34 countries and after raising $26 million in 2008 we reached $40 million in revenues by 2012 and sold our stock to a private equity firm for over $100 million.”
Even after selling out, Bullhorn remains private and Papas is CEO. “I can now get access to the money I need to make acquisitions and add new products. By 2017 we should reach $150 million in revenues and be in a position to go public or be acquired," explained Papas.
These three stories bring to mind the famous saying of GE founder, Thomas Edison, “genius in 1 percent inspiration, 99 percent perspiration.”  For aspiring entrepreneurs this means that if you have an idea for a business, build the product, give it to customers, and see what happens.
If the customers don’t like your idea, try something new. If they like part of the idea, develop that. And if it fails, keep trying until you succeed.