Innovation Perspectives - Trendspotters' Fab Five

This is the second of several 'Innovation Perspectives' articles we will publish this week from multiple authors to get different perspectives on 'Who should be responsible (if anyone) for trend-spotting and putting emerging behaviors and needs into context for a business?'. Here is the next perspective in the series:

by Mike Brown

Who should be deciphering the future and helping shape how a business understands and prepares for it?

The first inclination might be to think about a specific part of an organization for the function. It's important though to identify the individuals well-suited to this challenging role. From that perspective, five capabilities are vital to successfully champion this effort:

1. Having a Natural External Perspective


• Creating solid insights about the future depends on starting with a view outside, not inside the business. It's a natural orientation that not all people share. Someone in a trend-interpreting role has to be a sponge for gathering, processing, and extrapolating information on markets, customers, competitors, and a broad set of inputs on the economy, demographics, and other environmental factors.


2. Being an Integrator


• Being able to do something with a broad set of future-looking inputs requires someone with a solid perspective on the business and what drives its success. This has to be coupled with the ability to understand how other industries and markets affect the business today and imagine how they might in the future. Finally, it demands a strong command of frameworks to integrate meaningful interpretation of broad, and typically incomplete, forward-oriented data sets.


3. Possessing Both Left and Right-brained Orientations


• Ideally solid quantitative metrics (i.e., demographics, demand forecasting, industry sizing trends) are available to help form relevant predictions. Often though, numeric information isn't available. In any case, analysis has to be coupled with creating compelling stories to drive strategic actions anticipating and preparing for the future. "Whole brain thinkers" are essential, since they provide left-brain quantitative and analytical skills coupled with creative, communications-oriented right-brain perspectives to help make on-target, forward-looking action happen.


4. Displaying Strong Intuition


• There's no single clear picture of what the future holds. Creating credible future scenarios requires tremendous amounts of interpretation and extrapolation. Some of this can be learned; much of it can't. Trend watchers and prognosticators need to be able to instinctively "know" what all the information they're seeing means. If it's a broad intuitive sense, that's fantastic. Even if it's industry-specific, that can be fine too. I used to work with an economist who had been in transportation for many years and had tremendous instincts for our market. I'm not sure he could have been dropped into another industry and had the same feel, but for our market, he could look at a competitor's quarterly numbers and tell you exactly what was and would be happening in its logistics operation with high certainty.


5. Building Powerful Relationships and Networks


• It's quite a list to this point, isn't it? It's challenging for one person to excel at all of these skills. As a result, the fifth essential capability is to be an outstanding relationship builder. This includes the ability to recognize the talents necessary in others who can help shape a view of the future along with the interpersonal skills to cultivate and share value throughout the network of experts that's needed.

There are certainly other skills and capabilities which make for a strong trend watcher and interpreter. But if you can find someone in your business solidly embodying these skills, don't wait for a clearer view of the future. Get them into the job right now!


You can check out all of the 'Innovation Perspectives' articles from the different contributing authors on 'Who should be responsible (if anyone) for trend-spotting and putting emerging behaviors and needs into context for a business?' by clicking the link in this sentence.

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Mike Brown is an award-winning innovator in strategy, communications, and experience marketing. He authors the Brainzooming TM blog, and serves as the company's chief Catalyst. He wrote the ebook "Taking the NO Out of InNOvation" and is a frequent keynote presenter.

Who Should Be Driving Social Media?

by Mike Brown

The title topic came up recently on Twitter, as it had at a B2B social media roundtable late last year: Who should be doing social media strategy and implementation for a brand - organizationally and individually?

My take is a strategic perspective is the foundation for a social media effort to build a sustaining impact. When it comes to questions of social media strategy "ownership," it's clear sole responsibility for it doesn't fit nicely into a box on today's org charts.

Stepping back from the discussions, I forced myself into three criteria which seem necessary for taking on social media responsibilities in corporations:

1. Ability to always be on message for the brand, which implies effectively linking brand strategy to messaging


2. Appropriate sensibilities for social media channels


3. Diverse communication skills that work across various social media channels

Sometimes those people are in marketing communications, but you may find them in other parts of a company as well. They may also exist outside a company's employee base; that's fine too.

Most importantly, given the rapid pace of social media, you want the best strategic writers crafting the communication. Where are these people located in and around your company? Find them wherever they may be!

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Mike Brown is an award-winning marketer and strategist with extensive experience in research, strategy, branding, and sponsorship marketing. He's a frequent keynote presenter on innovation and authors Brainzooming!

Building Up Innovation Capital

by Rowan Gibson

As usual it was Peter Drucker, the godfather of modern management, who said it first. Right back there in 1966 (!), in his landmark book "The Effective Executive", Drucker argued that companies would need to build a new kind of organizational capital as the industrial economy gave way to the knowledge economy. His famous proclamation was that, in future, brainpower would be a more valuable asset for wealth creation than factories and financial clout. All of which came true, of course. But that was not the end of it. Now, over four decades later, we are once again challenged to rethink organizational capital as we make the transition from a knowledge economy to an innovation economy. And that creates a new agenda for every single company.

For most of the last century, as well as the previous one, we looked at companies as if they were comprised of only two kinds of capital: financial and structural. Financial capital obviously refers to a company's balance sheet. Structural capital is the value of its physical assets - its networks, facilities, warehouses, plants, inventory, and so on. Thus, if we had gone back and spoken to the super-rich industrialists and financiers of the late 19th and early 20th century - such as Vanderbilt, Rockefeller, Carnegie, and Morgan - they would have told us that this was the only way to measure the worth of an enterprise. Move forward a few decades and the same would have been true if you had talked to great business builders like Henry Ford, Alfred P. Sloan, Thomas Watson Sr., or any of their corporate accountants. What counted back then was the tangible stuff that is easy to quantify and monetize on a financial statement.

In the 1980s and 1990s, that began to change. In large part because the stock market value of companies was beginning to get out of all proportion to the "book value" of their physical assets. Microsoft, for example, had an almost 8-to-1 ratio of market value to physical assets value. And when Philip Morris bought Kraft in 1988 for $12.9 billion, the "hard assets" of the firm were calculated to be worth only $1.3 billion. That means Philip Morris was paying a full $11.6 billion - or 89.9% of the transaction price - for "other stuff" that wasn't even on the balance sheet: intangible stuff like brand equity, marketing capability, and so on.

British futurologist Hugh Macdonald coined the phrase "intellectual capital" to describe these intangible assets. He defined it as "knowledge that exists in an organization that can be used to create differential advantage." And in a seminal article in Fortune magazine in 1991, Thomas Stewart wrote that "every company depends increasingly on knowledge - patents, processes, management skills, technologies, information about customers and suppliers, and old-fashioned experience. Added together this knowledge is intellectual capital."

From then on, we had three forms of capital - three basic kinds of assets - with which to measure a company's worth. But in a new, innovation-based economy, where value-creation is the new Holy Grail, the way we define, measure and manage organizational capital is again woefully incomplete. In 2001, strategy guru Gary Hamel argued that financial, structural and intellectual capital, by themselves, do not create new wealth. And I agree with his astute observation. Think about GM. If any company on earth ever had huge amounts of money, massive dealer and supplier networks, giant manufacturing plants, countless technological patents, well-oiled management processes, tons of customer information and decades of industry experience, it would have to be General Motors. Yet where is GM today? In effect, all of those assets have proven to be almost worthless in terms of creating new wealth.

Hamel's view is that the three traditional forms of capital are largely inanimate. In today's competitive era, they need to be animated or catalyzed by three new kinds of organizational capital if we want to translate them into wealth. He calls these "imagination capital", "entrepreneurial capital", and "relationship capital", all of which are different forms of human capital.

Consider the first one. Most companies would tell you that knowledge is a critical resource. Many large organizations have internal KM efforts aimed at sharing information and experience across the firm with a view to continuous improvement. But in a world where the pace of change has gone hypercritical, we're finding out that success has less and less to do with learning from the past, and more and more to do with imagining future opportunities. Knowledge has become a commodity. Let's face it, you can go online and find out almost anything with just one or two clicks. So the issue is not how much you know but how creatively you can leverage what you know. Today, the advantage increasingly goes to those firms that develop "imagination capital" - which is the capacity to dramatically reconceive what the firm is and imagine entirely new uses for its financial, structural and intellectual capital. Einstein's oft-quoted reflection that "imagination is more important than knowledge" becomes the mantra of the innovation economy.

Second, companies need to develop their "entrepreneurial capital", which means building the entrepreneurial spirit into many, many employees across the whole organization, not just in an incubator or some new venture division that exists out on the periphery of an otherwise orthodox company. It's about creating a cultural environment where the entrepreneurial spirit is everywhere; where ordinary employees can have the courage to experiment and try something new, where they can get unfettered access to the financial and human capital they need to push their ideas forward.

The third of these new kinds of capital is "relationship capital" (or what I would call "network capital"), which refers to the connections a company can make between previously isolated people, ideas, resources and domains - both across and beyond the organization. Innovation is so often about spotting the opportunities that come from recombining and blending all of these ingredients. The quality of a company's network of relationships - its ability to connect with individuals and organizations that have very different skill sets and capabilities - is becoming more and more critical to its own capacity to innovate.

Here's the sad reality: most companies don't have a clue about how to support
the development of these new forms of capital. So the challenging agenda for
organizations around the world will be to think about exactly what it takes to
build, measure, manage and exploit what amounts to their "innovation capital" - which is so essential to creating wealth in our times.

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Rowan Gibson is widely recognized as one of the world's leading experts on enterprise innovation. He is co-author of the bestseller "Innovation to the Core" and a much in-demand public speaker around the globe. On Twitter he is @RowanGibson.

Do you have a relevant message?

by Mike Myatt

It is simply not possible to have a well received message that is not relevant. Think about it for a moment... when was the last time you bothered to read, watch or listen to a message that wasn't relevant to your needs? Great leaders understand the power, influence, and leverage created by relevant messaging. Do you ever find yourself sitting back and marveling at those leaders who always seem to have the right thing to say? Contrast this with the feelings you have when you hear an awful sound-bite that makes a leader look either uninformed or unintelligent. The difference between the two aforementioned examples is that great leaders have mastered the art of finding the right message (the relevant message) regardless of the medium, market, or constituency being addressed. In today's post I'll share some of the messaging secrets used by the best leaders to keep their message relevant...

So why is great messaging so important? In the business world, as a chief executive officer or entrepreneur, corporate messaging is the key to both your personal and professional positioning strategy. A leader's message has a direct impact on their personal and corporate brand equity, how they manage a crisis, marketing initiatives, investor relations, press and public relations, team building and employee engagement, customer loyalty and virtually any other mission critical area of chief executive responsibility.

The reality is that your messaging will often times have a greater impact on your career than your performance. I have witnessed on numerous occasions CEOs with average, or even sub-par performance histories fare well because they possessed great messaging skills. Let me be clear that I'm not advocating form over substance here. I'm simply pointing out that they understood how to message their shortcomings and flaws, while engendering confidence around their planning for corrective measures to critical spheres of influence. The message was on target, it was relevant and therefore it was believable. By contrast, I have also watched CEOs with excellent performance histories not do so well because they did not possess the messaging skills necessary to keep stakeholders engaged. They did not address the needs or concerns of the audience they were addressing, and therefore the message was irrelevant and subsequently ineffective. Simply put, the relevancy, savvy and sophistication of your messaging will have a direct impact on the sustainability of your tenure as a chief executive.

CEOs who become recognized as great leaders are prepared, articulate, consistent, and crisp in their messaging. They speak with authority, clarity, and certitude because their messaging is relevant. In fact, it is the relevancy of their messaging that engenders confidence and serves to inspire and unify. Perhaps most importantly, a great leader's message is never in conflict with their values. They will not compromise their core beliefs simply to manipulate the outcome of a specific situation. They rest in the comfort that doing and saying the right things will ultimately put them in a favorable position, and if not, they are comfortable in assuming any negative consequences that may come as a result of right thinking and decisioning.

When it comes to the construction of messaging, I have found that people will tend to fall into one of the four following groups.

1. The Medium "is" the Message: People that fall into this camp believe that the medium will do the work for them. They believe in the reach and power of the medium to overcome any flaws in the message. This view of messaging constitutes a numbers based approach where the business logic states that if you reach enough people with the message some acceptable percentage of the people reached will embrace the message.


2. The Market "is" the Message: This view of messaging values the target audience above all else. The message is so targeted and niche specific that it is sometimes almost unintelligible to those who fall outside of the intended target market.


3. The Message "is" the Message: This group believes that content is king. The emphasis here is that if the message is creative enough, or valuable enough, nothing else matters. This view of messaging is all about the teaser, the hook, the calls to action, the design, the concept, etc.


4. The Messenger "is" the Message: This is the branded approach to messaging. If the person delivering the message has enough credibility and influence, nothing else matters. This iconic, ego-centric approach to messaging places a high premium on the spokesperson.

My view of the aforementioned four theories is that their sum total value is greater than their independent stand alone value. Other than in matters of character and principle, I don't tend to be an absolutist. Over the years, and especially in the genres of marketing, branding, positioning, and messaging, I believe a collaborative and cross-disciplined approach to be the key to success. While content can create credibility, credibility can also enhance the view of content. Furthermore, the best content or spokesperson in the world communicating to the wrong audience, with the wrong message, or through the wrong medium is likely to miss the mark. It takes a blending of approach to craft the right message and this will not happen when operating in a vacuum. Following are a few final thoughts for your consideration when crafting your message:

1. It Must Be the Truth: The truth always comes out in the end. If your message won't pass public scrutiny over time, then you have the wrong message.


2. Use a Multiple Medium Approach: Long gone are the days of one size fits all mediums…the best messaging campaigns take place across mediums creating multiple touch points to various constituencies and demographics.


3. Know Your Talking Points: Don't allow the message to get lost in the medium. Remember that the main thing is to keep the main thing the main thing. You must be consistent and convicted in your opinions and your positions. Be clear, concise and don't compromise on key points.


4. Know Your Audience: All messages should be tailored to the audience being addressed. This does not mean you should compromise your position, rather it means your message needs to relevant, timely, and of significance. While your talking points need to remain the same, they also need to address the concerns and areas of interest of those being communicated to. The message must be relevant to be successful.


5. Don't Forget Your Critics: The tendency is to believe that your audience is comprised of friends and allies. You need to assume that every message given will find its way into the hands of your worst critics, and furthermore, that they will attempt to use your message against you.

Keep the message relevant and real and you'll stand apart from the masses. Good luck and good messaging...

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Mike Myatt, is a Top CEO Coach, author of "Leadership Matters...The CEO Survival Manual", and Managing Director of N2Growth.

It is NOT who you know

Why Trust Trumps Volume

by Matt Heinz

The assumption that a big network - thousands of followers on Twitter, an enormous rolodex, a really big mailing list - directly translates into influence and performance is ridiculous. Anybody can build a big list of names.

The more important question is whether those people care about you.

• Do they respect you?


• Do they trust you?


• When called upon, will they help you?


• Will they buy from you?

The trick is translating that big list into an army of evangelists, a group of individuals who respect and trust you.

That's how to measure the value of your network. Not by sheer volume, but by trust.

Trust drives influence, and influence enables action.

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Matt Heinz is principal at Heinz Marketing, a sales & marketing consulting firm helping businesses increase customers and revenue. Contact Matt at matt@heinzmarketing.com or visit www.heinzmarketing.com.

7 Reasons I Joined the Local Chamber of Commerce

by Matt Heinz

Last week I finally joined the Kirkland Chamber of Commerce. I've attended a few events over the past year, but it was time for me to become an active member.

I know in an age of Twitter and LinkedIn and all kinds of alternatives to business networking, joining the local Chamber can sometimes be seen like less of a priority. Many young businesses believe there are better uses of their time and money.

I disagree. It may have taken me longer than it should have, but joining the Chamber was an inevitable no-brainer. Here are seven reasons why:

1. Pipeline Development

• For our clients, everything we do is about helping them accelerate sales & revenue. Everything is measured based on its contribution to sales & revenue growth. The way I operate my own business is the same. So reason number one for joining the Chamber is sales pipeline - meeting and acquiring new prospects and clients for us.


• My pipeline already has businesses met both directly at Chamber events as well as referrals from Chamber introductions. Two weeks in, and if one of those clients converts, it more than pays for the Chamber membership. That's already good ROI (and we're just getting started).

2. Networking

• Every business owner needs to devote a significant amount of time to marketing, and in my business that means a lot of networking. Networking with prospective clients, as well as fellow business owners who either might be clients or who know, work with, live with or otherwise associate with prospective clients.


• Networking is a numbers game, in which you treat everyone equally. Everybody knows somebody (or is somebody), and the more you put into it, the more you get out of it. A big part of joining the Chamber is having more opportunities to network at a local level.

3. Peer Group

• Other Chamber members are a lot like me. They have a business they're trying to make a success, and grow bigger/better than it is today. We all do different things, but we're struggling with many of the same issues - growth, operations, product set, sales channels, etc. Sometimes the best new ideas I apply to my business come from someone in an entirely different industry, selling to a very different customer. The more you spend with fellow business owners, the smarter you'll be about how to operate, optimize and grow your own business.

4. Credibility

• As a growing business, being a member of the local Chamber establishes credibility. It just does. It demonstrates to other businesses and prospective clients that we're a real business, and willing to invest time and money to be an active member of the business community.


• If I'm going to be a member of the local business community, I consider it an obligation to do what I can to foster health & growth for that same community. The rising tide will lift all boats. The health of the local business environment is a big part of why I'm in business today, so it's my duty to both give back and actively contribute to that community.

5. Introductions

• My participation with the Chamber has already created introductions for myself and our business to community, government and business leaders I otherwise would have either never had, or taken much longer to gather. Those new relationships are with influencers, "connectors" as Malcolm Gladwell would describe them, people who can open up huge new doors and opportunities for our business.


• If what you're doing or selling as a business has value, and you can clearly & succinctly articulate what that is, others who get it and need it (or know people who need it) will help you identify new opportunities for growth as well. That's what influencers and connectors can do. And you'll meet them through the Chamber.

6. Belly to Belly Relationships ("LinkedIn is not enough")

• I'm a huge fan of LinkedIn and other social networking tools. They make creating and fostering a network faster and more efficient than ever. But they're no replacement for getting out there and meeting people live. They never will be.


• Some of the smartest social media people in the world make a point of telling their followers to step away from the computer and get out to actually see people. They know that networking, at its core, is about people meeting people. And there's simply no better way to do that than belly-to-belly, looking at the whites of another person's eyes, and demonstrating in real time the value, credibility and trust you (and your business) represent.

7. Opportunities I can't even think about yet (but will discover and create)

• I mentioned above that networking is a numbers game. You meet some great contacts and occasionally some clunkers. Inherent in that belief is the knowledge that enough contacts will net you revenue-producing opportunities. Also inherent in that belief, I believe, is the knowledge that completely unexpected opportunities will come your way when you seek them out, keep an ear open for them, and explore them when they materialize.


• If I'm not a member of and active in the Chamber, I'm missing an opportunity to discover something I can't even fathom yet, an opportunity that could significantly change my business and my life.


• I can't afford to miss that.

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Matt Heinz is principal at Heinz Marketing, a sales & marketing consulting firm helping businesses increase customers and revenue. Contact Matt at matt@heinzmarketing.com or visit www.heinzmarketing.com.

The Right Way to do Social Media

Click above to Enlarge
by Braden Kelley

Unfortunately, more often than not I see examples of social media strategy gone wrong. So, it stands out when I see a company like Lufthansa doing social media the right way - at least with their MySkyStatus site. Let's look briefly at why this is a good execution of a social media strategy:

1. Easy to use


2. Gives the customer something of value with minimal effort


3. The value is something that people naturally want to share


4. Works just as well with the competition's product as with their own


5. Gives customer a visual idea of what they are going to get before they invest any time or effort


6. Brand impression is minimal, and no fear of mentioning the competition


7. It gives the user a choice of how much information they want to disclose

Now if we can convince the airlines that charging people for extra bags and other pointless fees are a bad idea (like Delta Airlines charging me $50 for the "privilege" of standing by for an earlier flight with open seats), then the world will be a better place.


What other examples of well-executed social media campaigns would people like to share?

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Braden Kelley is the editor of Blogging Innovation and founder of Business Strategy Innovation, a consultancy focusing on innovation and marketing strategy. Braden is also @innovate on Twitter.

Twitter vs. Online Forums - Tragedy of the Commons

by Hutch Carpenter

Riding on board a Virgin America flight, I have CNN on my seat media screen. I'm watching CNN much more than I'm usually able to.

I notice those tweets flashing along the bottom of the screen. Some are good. Many aren't. They are examples of the tendency for online discussions to devolve into name calling, stereotypes and ad hominem attacks.

They remind of the worst sort of comments found on online message boards. The problem with inline message boards is that there is little control by the individual for what they see. It's not just political discussions. Marketers pollute LinkedIn message boards with their spammy webinar solicitations.

It's the tragedy of the commons. A common resource - message boards - is overrun by those not providing quality contributions.

With Twitter's one-way subscribe model, this particular attack on the commons is limited. Why? It's easy to unfollow those who post irrelevant or non-productive things.

Want to be a participant beyond the amen chorus and fellow polemicists, or get people to actually care about your webinar? Figure out how to engage in an intelligent discussion.

A benefit of Twitter: managing the tragedy of the commons. It should be noted, however, that enabling discussions among multiple people is quite important. Letting multiple people on a thread while preventing the spammers is the next step in protecting and improving the value of the commons.

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Hutch Carpenter is the Director of Marketing at Spigit. Spigit integrates social collaboration tools into a SaaS enterprise idea management platform used by global Fortune 2000 firms to drive innovation.

Forging Strong Research Relationships

by Mike Brown


Ten Things - The Foundation to a Strategic Research Relationship:

1. Be a "thought partner" with us. This is a two-way street - we've got to treat you like one before you can do what it takes to become one.


2. Your energy and passion for what you do (and your intellectual curiosity) need to be evident.


3. Theres a difference between researchers who think they're researchers and researchers who see themselves as business people. It's tough to explain the differences, but they're readily apparent. We need researchers who think like business people if we are to be successful.


4. Understand our business more deeply than from just the numbers that you see. If not, we'll never get to where we must go.


5. Bring creativity to questioning, analysis, and reporting (and any place else in the process). That means generating new ideas to produce breakthroughs on mutual efficiencies, high impact insights, easy to grasp reporting, and actionable recommendations.


6. We must put information into context. We can't afford to just report numbers or even changes in numbers. We need to get to insights. What does it mean? What do we do about it?


7. We have to get beyond reports that show charts and have bullets that merely say what is on the chart. We have to offer our audiences relevant insights. That takes pulling information from various sources (including people) and analyzing, talking, and identifying relationships among everything we're looking at.


8. Look outside our industry or outside research circles for ways to report information. Review Edward Tufte, Richard Saul Wurman, and others. Are there movie scenes that help us get our points across? Magazine ads? Always ask the question: "What's that like?"


9. Communicate proactively - let's make sure we talk and we're all clear on things before moving ahead. That may mean a phone call instead of an email.


10. Exhibit strong attention to detail - that way we can get beyond fact & spell checking and spend our time on delivering insights.

If you can get to this point with your research partners, you'll truly be doing COOL WORK that matters and that can change your company and your industry. WOW!!!

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Mike Brown is an award-winning marketer and strategist with extensive experience in research, strategy, branding, and sponsorship marketing. He's a frequent keynote presenter on innovation and authors Brainzooming!

Seven Reasons Your Business Should Be On Twitter

by Matt Heinz

I can think of seven specific, revenue-producing reasons why most businesses should be on Twitter. If your customers are using Twitter, you probably should be to. But how, and why?

Here are seven places to start:


1. Get New Customers

What do you sell? There are prospective customers talking about it on Twitter right now. Do a search for that product or service or topic and you'll find them. Reply to their tweets, and engage with them directly as prospective new customers. Better yet, start sending your own tweets with the same keywords or hashtags (which is the keyword with a # in front of it to help others find it). That way you'll start attracting new customers to you with the same topics or products.


2. Keep In Touch With Customers & Fans

Find out which of your customers are using Twitter, ask them to follow you. Follow them in return. Share news about your business, your new products, and topics your customers collectively will care about. Reply directly to your customers & fans, and retweet their Twitter posts that would be interesting to the rest of your followers. Twitter is a great way to keep an ongoing, interactive conversation going with your customers between purchases.


3. Watch Your Competitors

Who do you compete with? They're either on Twitter too, or are being talked about there. Do searches for them directly, and you'll not only see what they're talking about to their customers and prospects, but you'll also see what their current customers are saying about them - good, bad and ugly. Not a bad way to find new prospective customers, but at minimum you'll keep closer tabs on the competition - including gleaning things you could be doing to grow your own business.


4. Announce Sales & Specials

Putting that summer line on sale? Tell your Twitter fans. Announce that anyone who retweets the discount to their own followers is entered in a drawing for free product. Send special coupons and offers exclusively to your Twitter followers (which will encourage more customers to follow you).


5. Generate Referrals

Contribute content or links that your followers will retweet to their own followers. This will drive new customers to discover and follow you. Run a contest for anyone who retweets about your business today - all new followers and those who retweet are entered in a drawing for a gift card, or free product.


6. Cross-Promote Neighboring Businesses

If you're in retail or a restaurant in particular, and physically sit with other businesses, you're in it together as far as foot traffic goes. Help promote your neighbor businesses to your followers - even if they themselves aren't yet on Twitter. The more business you help drive to them, the more they'll help drive to you - either directly or via the increased foot traffic to your general area.


7. Cross-promote Similar Businesses in Other Markets

You're a unique hotel in Seattle? Partner with similar hotels in other markets and cross-promote each other to travelers. High-end French restaurant? Do the same. Build a partner network via Twitter to quickly accelerate the volume of out-of-town traffic you generate.


What did I miss?


How are you using Twitter specifically to generate new customers and repeat business?

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Matt Heinz is principal at Heinz Marketing, a sales & marketing consulting firm helping businesses increase customers and revenue. Contact Matt at matt@heinzmarketing.com or visit www.heinzmarketing.com.

Building Innovation Networks

by Stephen Shapiro

According to David Strom, a web/tech expert...

"Burger King ran a promotion not too long ago where they asked people to defriend 10 Facebook friends in order to get a coupon for a free burger. They were swamped with thousands of requests, thereby establishing the value of a friend at somewhere around a quarter. That is pretty depressing. I always thought a friend was worth at least a couple of bucks, if not more."

This got me thinking. How do we value friends? And are all friends valued the same way? I have nearly 400 Facebook friends. I try to only befriend people I really know. But admittedly, some are friends of friends and I don't know them at all. In reality, there are only a handful of people that truly interest me.

My experience mimics that suggested in this fascinating article on how the virtual Facebook world mimics the physical world. Although we may have hundreds of friends on Facebook, there are indeed only a handful that we maintain intimate relationships with.

Dr Robin Dunbar once suggested that humans can only have a stable network of about 150 people, also known as "the Dunbar number."

The article shares some interesting statistics...

• The average person has 120 Facebook friends. This is interestingly quite close to the Dunbar number.


• Men generally respond to postings of only 7 of those friends by leaving comments on photos, status messages or "the wall." Woman respond to 10 friends.


• With two-way communication, men only chat/email with 4 people, while women communicate with 6.


• Among those Facebook users with 500 friends, these numbers are only slightly higher (but not proportionally higher). Men leave comments for 17 friends, women for 26. Men communicate with ten, women with 16.

I find this quite interesting. And it has interesting implications for building innovation networks and communities.

When working with an organization, I often put in place innovation "Centers of Excellence" and "Communities of Practice." We find these are very helpful in spreading the innovation gospel into smaller, more manageable sized groups. The research above demonstrates to me why it works so well.

While at Accenture (then Andersen Consulting), we used a similar model to build the skills of the consultants. My area was called "Process Excellence" and involved the building of innovation skills.

We created a Process Excellence Center of Excellence with 100 people. These uber-experts were dedicated 100% to our team. We had responsibility for their professional development and the P&L of the group. We even split these into smaller groups based on geography and specific competencies. This created even smaller, more cohesive groups.

We then developed a "Community of Practice Leadership Group." This group was comprised of 30 people. These individuals were dedicated to other parts of the business (mainly industry programs). We were only responsible for giving them to tools necessary to lead their communities. Leaders were selected based on their existing Process Excellence skills and their geography.

Each leader had about 50 people on average, giving us about 1,500 people in the Process Excellence Community of Practice.

At the lowest level, we had 20,000 consultants that were recipients of the training that was developed by the Center of Excellence and delivered by 150 experts hand-selected from the Community of Practice. These sessions were delivered in small group settings with a dedicated point of contact available for post-training follow-up and mentoring.

Using this approach, we developed a powerful 20,000 person practice in only a matter of months. Although this group accounted for almost 40% of the consultants in the company, it was one of the most active and sought after communities.

Instead of trying to create huge, faceless groups, look for opportunities to build smaller, more active communities. Find ways to create intimate relationships between employees, customers, and vendors.

Look at your networks. Is there an abundance of activity and dialogue? If not, you may want to look at the sizes of your teams. Yes, size does matter.

If you have not yet read my article published in the European Business Forum, be sure to read it now. It gives more insights into this "community" concept.

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Stephen Shapiro is the author of three books, a popular innovation speaker, and is the Chief Innovation Evangelist for Innocentive, the leader in Open Innovation.

Five Ways to Create Innovation Throughout Your Life

When innovation is brought up in a business context, we mostly think about, well, the business. We think of innovations related to products, business models, go-to-market strategies and the like. This blog does a great job of identifying and promoting specific strategies and tactics for accelerating and maximizing innovation through those and other business-specific contexts.

But your business strategy is just one of many places where the right innovation approach can create incredible, positive changes in your life. Imagine what would happen if you made a specific point to innovate elsewhere?

Here are five specific places and contexts in your personal and professional life that, with the same approach to innovation, can make you happier, more fulfilled and more successful.

1. Innovate Your Career

Are you doing what you want to do? Are you learning new things every day? Do you feel comfortably challenged with the work on your plate? If not, it may be time to try something new.

If you were starting your career from scratch, knowing what you know now, what would you do differently? What risks would you take? How hard would you work in a different direction to achieve the job, the career or the business you dream of today?

What do you really want to be doing in five years? 10 years? Whatever that vision is, what do you need to do right now, this month, or at least before the end of the year to make progress towards that dream?

Playing with your career can mean playing with your livelihood, which is of course scary. But you spend at least 40 hours a week at work, working effectively on your career.

2. Innovate Your Management Style

How are you making your direct reports as productive, successful and satisfied as possible? For those who don't work directly with you, how are you enabling them as best as possible to achieve their goals, and make both you and the company overall perform better?

Are you actively mentoring future leaders inside your company? How about outside? When you get requests for your time to help someone learn - whether or not they work directly for you - do you take the time to do it?

Do you actively use recognition strategies to praise and motivate your team? Not just bonuses and coffee gift cards, but do those you work with know on a regular basis that you value their work?

Think hard about how you would be best learn, innovate and be motivated as an employee, and make sure you're innovating your management style to match that. Better yet, ask your employees directly how they learn, how they innovate, and how they’re motivated, and match that.

3. Innovate Your Personal Life

You do have a life outside of work, right? If not, let's start there. How are you staying balanced and refreshed so that you're working at your peak while on the job, but also living a rich, fulfilling life away from the office?

Put pen to paper and inventory the things you wish you had more time to do. If they're important enough, you'll make time for at least a handful.

What are the things you want to do in the next five years? Before you die? What are you doing right now to make those things possible? If you don't act now (or at least prepare to act), you'll never take advantage of the things you really want to be doing.

Explore that personal itch. Meet new people. Try new things. Mix things up.

4. Innovate Your Relationships

Think about the people most important to you - your family, your spouse, your close friends. Do you spend as much time with them as you want? Do you do the things with them you want to be doing?

Indulge me for a moment, and treat your personal relationships like a business problem. What's your goal? What does success look like? Envision what that relationship would ideally look like moving forward. Now what's your strategy to get there?

5. Innovate Your Future

OK, I cheated. This one's really a combination of the first four above, but is perhaps the most important. You can keep doing what you're doing today - follow the same career, keep the same friends, the same occasional convenient hobbies - and maybe that makes you happy.

But chances are, if you took a minute to think and innovate, you'd envision a world much different than the one you live now.

So what are you going to do about it?

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Matt Heinz is principal at Heinz Marketing, a sales & marketing consulting firm helping businesses increase customers and revenue. Contact Matt at matt@heinzmarketing.com or visit www.heinzmarketing.com.