Employee Perks Good for Employers, Too, Study Suggests

This article discussed a study on how well-respected businesses such as Google, Apple, and Microsoft have invested heavily in a variety of initiatives to help create a healthy, balanced lifestyle for their employees. 

With such high-profile corporations leading the way, it is not surprising that many small and mid-sized businesses are trying to follow this example and investing in their own initiatives.

In my opinion, it does not take a big study to understand that if you treat employees well, they will put in a good days work. Keeping employees happy, motivated, and on the payroll is one of the key concerns to businesses these days. A good employee can walk out your door today and have a comparable or better job tomorrow. Which brings up a very important question; what can you do to keep that person from even thinking about going to work elsewhere? Gone are the days when the weekly paycheck and two weeks’ vacation a year were enough to keep employees happy.

The point is this, money is no longer the reason employees stay with a company for years. As a company, it is up to you to do what can to keep your employees happy even if you do not have Google's deep pockets.  Take time out to find out what makes your employees tick, what perks they would enjoy and what needs can you meet that would help them be better employees.

Cited:

Tahmincioglu, Eve.  (2012)  Employee Perks Good For Employers, Too, Study Suggest.  Retrieved May 9, 2012 from http://lifeinc.today.msnbc.msn.com/_news/2012/05/09/11601944-employee-perks-good-for-employers-too-study-suggests.

Branding a Next-Generation Product

The launch of a next-generation product, companies typically have the opportunity to continue with an existing naming sequence or switch to an entirely new brand name.

            John T. Gourville and Elie Ofek, Harvard Business School marketing professors, teamed up with London Business School's Marco Bertini to search out the best practices for naming next-generation products. 

During experimental research, data showed that each naming approach affects customer expectations. With a name change, research participants expected features that were distinctly different or new. With a name continuation, customers just expected improved performance on existing features.

            Companies must also assess risk versus reward when branding a product upgrade.  They must weigh in the excitement generated by a new name against the danger of scaring away customers who worry that new features pose the threat of new glitches and a steep learning curve.

In my opinion, companies may find appealing the thought of using a new brand name to signal an important innovation. People generally view innovation in a favorable light. However, the concern is that a new brand name not only leads consumers to believe that they are exposed to greater rewards, but it also leads consumers to believe that they are exposed to greater risks.

Cited:

How to Brand a Next-Generation Product. (2012) Retrieved April 25, 2012 from http://hbswk.hbs.edu/item/6961.html.

Emotional Intelligance (EI) - What's your Personality Type?

Emotional Intelligance (EI)  What is your Personality Type?

Every time I explain the topic of Emotional Intelligence (EI), it is funny to hear such responses as “that is sooo interesting,” or “what a fascinating topic!”  I wholeheartedly agree because I too said the same thing when I was first introduced to the subject in Dr. Steely’s class at Webster University in 2009.  I thank Dr. Steely for introducing this subject.  To this day, EI has been one of the best learning tools I could have ever had; and I practice it EVERYDAY!

Let me see…where does one start with bringing this concept down to earth?  EI starts with understanding oneself; developing an awareness and mindfulness of your own emotions without either getting hijacked by them or ignoring them as inconsequential.  Emotions are the guideposts to our decision-making.  Understanding how we feel is a major key to making good decisions that we are satisfied with and that work for all involved.  Sigmund Freud described self-awareness as having an “evenly hovering attention while we watch ourselves feel and act”.  Basically, it is all about monitoring what is going on in a calm, but neutral way.

Hopefully, after reading this blog, you will start practicing this mindfulness whenever you feel an emotion welling up.  Let the feeling play out inside, trying not to get caught up in it – just watch and take mental notes of what is happening inside of you.  Look for patterns and triggers.  As you do so, you will be building the foundation of EI, which is self-awareness.  It is the first step in building a real relationship with yourself and the ability to spread the knowledge to others.

I encourage you to click on the following links, read over the information, take the test and find out what your personality type is… let me know what you think!!!

http://www.personalitypathways.com/type_inventory.html#Inventory

http://www.humanmetrics.com/cgi-win/JTypes2.asp

Personal SWOT Anaylsis information

For all of you who have not taken a Marketing class, a SWOT analysis consists of strengths, weaknesses, opportunities and threats. This model tends to be applied to businesses of all sizes, while incorporating competitors to see where they stand in relation to the company.

Hopefully, the following information can help you with your Personal SWOT Analysis:

• Strengths - Think of your skills, which could be your ability to design graphics, develop websites, write, communicate, project manage, etc. Personal strengths may be your networking skills or how sticky your brand is to attract others.
• Weaknesses – These are areas where you need improvement. They could range from your ability to construct a blog to how you present yourself in public. Weaknesses are an important part of your development plan as well and overcoming them is essential to your personal growth.
• Opportunities – As you progress in your career, you need opportunities to reach new heights, gather new skills and meet people who can help you along the way. I’m not saying to take every opportunity given to you, but never miss out on one that fits into your plan.
• Threats – Threats come in all shapes and sizes. A threat could be another individual competing for the same job, an environmental factor that may hinder your chances to succeed or a new movement that could possibly make your brand irrelevant or outdated. Some threats can be avoided and others cannot. With the right opportunities you can bypass some threats.

VALS Online Survey

So I also took the VALS online survey and thought that my results were nothing like the person I am. The results were that I am an Achiever/Innovator and after reading the descriptions of both of these groups, I found that although there were some characteristics that described me, most of them were completely wrong. I thought the questions were too cut and dry in that you HAD to have an opinion on every category.  If there were a "neutral" option, I would have chose it. I truly feel that by making people choose a side (agree or disagree) the results are skewed.

If you have never taken the test before, you should!  Please feel free to leave me a comment. http://www.strategicbusinessinsights.com/vals/presurvey.shtml

On Saturday, April 14, 2012, our class was given an assignment to take the VALS ("Values, Attitudes and Lifestyles") survey and post our results.  For those who do not know what the VALS survey is, it has been defined as “a proprietary research methodology used for psychographic market segmentation”. Market segmentation is designed to guide companies in tailoring their products and services to appeal to the people most likely to purchase them.

Point-Know-Buy

Point-Know-Buy

“Discovery will no longer be limited to text search," writes the team at Trendwatching.com in their February, 2012 Trend Briefing. In this article, it is predicted  that due to the widespread proliferation of smartphones, of course, equipped with high-quality cameras, the process of searching for real-time information will move from text search, such as Googling something, to visual search using apps that employ Quick Response (QR) code, location-based, product recognition and augmented reality technology. 

             According to Trendwatching.com, below are the tech platforms fueling the "point-know-buy" process behind visual search:

 •QR Codes: "After trying hard for years, QR codes are finally breaking into mainstream consumer consciousness, although they are in danger of being superseded by the newer, often more natural technologies below."

•Augmented Reality: "The addition or overlaying of digital content onto the physical world (as seen through a screen). To date, most augmented reality (AR) apps (such as Wikitude) have relied on a phone’s GPS and compass sensors to ‘guess’ what a user is looking at, but newer and more powerful visual search AR technologies are beginning to appear."

•'Tagging: "A host of applications are now available that can pick up on invisible markers in objects or sounds in order to trigger information or actions. Check out Blippar’s or Aurasma’s interactive magazine covers to get an idea of where this is heading."

•Visual Search: "The future of POINT-KNOW-BUY. Rather than trying to determine where a user is, ‘smart’ image recognition technologies (like Google Goggles or Layar Vision) attempt to identify the actual object in the viewfinder in order to search or deliver additional content. So pointing one’s camera at an image of the Eiffel Tower will have the same result as pointing it at the real thing."

Trendwatching.com also proceeds to break down a host of real-world examples of visual search apps like WordLens, Leafsnap, Skymap, Find My Face and Shazam, which is actually audio search, and more. 

I think that what consumers “expect” is becoming a more important issue now. It is no longer considered a “nice to have” to be able to get information on anything, anywhere, at any time. Consumers expect this information and if they cannot find it with your brand, they will go elsewhere. Accessing information on the go also raises the important point that text-based search will decline as people are too busy and hurried to tap on their keyboard and search for the term.

In short, the evolutionary impact of digital on shopper marketing is positive for brands, retailers and consumers alike. In addition to providing increased opportunities to influence the shopper, digital’s impact on shopper marketing also engenders more opportunities for collaboration and alignment between brands and retailers in driving customers both in store and also to the retailer’s online store.

CITE PAGE

Point-Know-Buy.  (2012) Retrieved April 5, 2012, from http://trendwatching.com/trends/pointknowbuy.

Flawsome

The site Trendwatching.com published an interesting article that captures the essence of "Flawsome".  According to Trendwatching.com, the definition of Flawsome is: “Consumers do not expect brands to be flawless. In fact, consumers will embrace brands that are Flawsome: brands that are still brilliant despite having flaws; even being flawed (and being open about it) can be awesome. Brands that show some empathy, generosity, humility, flexibility, maturity, humor, and (dare we say it) some character and humanity”.  There are two key drivers fueling the Flawsome trend:

·         Human brands -- Everything from disgust at business to the influence of online culture (with its honesty and immediacy), is driving consumers away from bland, boring brands in favor of brands with some personality.

·         Transparency triumph -- Consumers are benefiting from almost total and utter transparency (and thus are finding out about flaws anyway), as a result of the torrent of readily available reviews, leaks and ratings.

People genuinely have a hard time connecting with or trusting others who pretend to be perfect. It is no different with brands. To be Flawsome, it is about trying to be perfect, but not pretending that you are.  For a company, part of the process is to keep flaws as far out of sight as possible. Despite the best intentions, no brand, company or representative is perfect and sooner or later some of those blemishes will be exposed.  It is how those imperfect moments are handled and their willingness to fix them.

In my opinion, creating a Flawsome brand means connecting directly with people in a warm and human way; person to person, instead of faceless corporation to person.   It is also about being open and honest, willing to admit mistakes and move on and, although the article did not mention this, it is important to add being willing to apologize when those mistakes cause issues/problems for others and do whatever you can to make it right. I have always tried to live and do business that way; though not flawlessly, of course.

CITE PAGE

Flawsome. (2012) Retrieved March, 27,2012, from www.trendwatching.com/trend/flawsome.