What is marketing all about? How often do we ponder this question and enter into a circular debate abut the analysis part, the tactical bits, the execution or the philosophy and strategy behind it?
But is this all there is to it?
Once you have created the context and back drop to the ‘what marketing is supposed to do’ element, what is is all about in the end?
We’ll briefly lay out an argument supporting the fact that we believe marketing exists within a context of ‘noise’ all around us and that the skilled artisans of the marketing world are the masters of translation. Translating the disparate voices, messages and content into a language the target audience can understand and make sense of.
Of course this is only a small facet of the entire marketing delivery platform, yet, one facet we must not forget. Whether pull or push is the preferred mechanism of creating the desired effect, the critical item to get right is the physical presence of mind and being in order to ensure the recipient had the correct message ‘translated’ in an understandable, action-oriented and galvanising manner to ensure they get up and do something slightly different from what they did a few moments ago.
The following internal marketing “Think Differently” Apple (Steve Jobs) video we believe sums up or rather expands more eloquently on our thoughts:
The fact is that in a Digitised Economy with control as the key behavioural modification tool utilised in organisational context; the more ‘control’ and micro management we apply, the more dysfunctional, disinterested and disenfranchised employees and collaborators become.
Now the terms employee and collaborator used in such close proximity should create a slight twinge of cognitive dissonance, but do we really pick up on the subtleties of the situation? Possibly not, however this thought piece is an extension of our initial thoughts on [the Future is collaboration], publish a week ago.
With collaboration and an Open Source or purely OPEN philosophy to achieving value creation for individuals and society in large, the biggest ‘contractual challenge’ of the beginning of the 21st Century is the revolution in the engagement process.
No longer a process purely dominated by an HR focus, but more around our key concept of CLUSTERS OF SKILLS & EXPERIENCE.
Creating the environment and framework that supports the ability of market participants to ‘cluster’ around skills bases and then for willing procurers of those clustered skills to engage in such a market is the cornerstone of the Digitised Economy in the third wave of ‘Industrialised Revolution’. In fact the word Industrial Revolution is a disingenuous statement to make, as the third wave of prosperity should be called the DIGITAL EVOLUTION.
Pure logical would dictate that (and indeed a convex demand curve) that as you ‘slide’ down the curve, the price / cost would become lower. Yet in practice, this hardly ever happens? Big Question mark…
Is this because the further we slide down the Experience Curve, the more utilitarian (fancy economic term we used there!) the benefit becomes? Yet, it also adds to the overall risk of the Experience or Value being added.
Is this a counter intuitive argument or are we just getting plain confused by the inverse relationship?
The future of work and engagement has already begun. That is stating the blatantly obvious, but are we really prepared for it, yet?
Here is a little taster of what we think the future of work will look like for most individual participants in the labour and skills supply market.
The key is that the industrialised ‘factory’ and production line models are now slowly but surely falling apart. The expectation for grown up individuals to turn up 5 days a week and sit at ‘battery hen‘ cubicles and perform tasks a ‘production line’ manager allocates and oversees are numbered.
The fundamental problem today is that no one has yet effectively resolved the ‘contracting’ and hence TRUST problem of delivery on a large scale. We can do it effectively on the micro level, with freelancers selling there individual skills on small tasks and projects, where the risk of failure or an adverse outcome is mitigated. However, we have not yet evolved far enough up the trust hierarchy to fully outsource mission critical projects to ‘clustered’ skills and solution provider hubs, in remote and distant locations, far removed from the core.
Platforms where suppliers and demanders of services can be matched
A common global business Lingua Franca
These are only a few of the factors either contributing or detracting from moving the revolution on in significant leaps and bounds.
Therefore, to conclude this first stab at a look at the future world of work, we hypothesis that the future will have large groups (what we will call CLUSTERED SKILLS HUBS) of skills pools bidding for contracts to supply services and solutions to leaner and meaner multinationals in cross border transactions and flows that are worth trillions of dollars annually.
Right now, we can’t see any major G20 sovereign government dealing effectively with this challenge, to ensure that they contribute and facilitate the move towards the new future of COLLABORATION.
We have been following the G20 ‘get those naughty multinationals in the tax tent’ debates raging for a few months now, with amusement we have to add; here at theMarketSoul and have the following short thought piece to contribute to the debate.
We know the ‘outrage’ really is all about the what the OECD calls the ‘general erosion of the tax base’, which in our opinion is just a distraction for proper structural reforms in the western democracies contributing to the G20 and OECD coffers.
The real issue is the power of civil society structures, such as multinational corporations, versus nation states. We constantly get an earful on how undemocratic corporations are from a liberal social leftist media and how dangerous unfettered corporate power is.
Yet, multinationals are far more democratic, in both structure and performance, than any sovereign government will ever be. If the corporate governance structure is correctly set up, then every corporate entity has an annual AGM at which point the corporate leaders have to resign, on a rotational basis, depending on individual Articles of Association or Memorandum ofIincorporation provisions (depending in which jurisdiction the corporate entity ‘resides’). How often does a sovereign leader stand down, in comparison and leave it to the popular vote to be re-elected? Certainly not on an annual basis, as is the case for most corporate leaders.
This leads us to the real thought piece of this article, namely the fact that corporate ownership and access to corporate ownership should really be extended to as wide a base as possible, rather than a few ‘monied’ or opportunist participants in the market.
Legislation around employee share ownership schemes are still very cumbersome and rules, rather than principles driven.
The real revolution we require is not around a new tax base or recapitalizing democratic bankrupt nation states; however we require a revolution of democratic corporate ownership to sweep the length and breadth of the land, in order to spread the risk, add additional wealth creation opportunities (and hence a widened wealth tax base) for smaller, leaner and meaner governments to address. This a cry from civil society to the inner ‘goodness’ of political society to sit up, take serious stock and work on longer-term solutions to the erosion of their tax bases, rather than the usual headline grabbing short-termist market distorting interventions the G20 governments are so infamous.
Why are we so fixated by process, yet so bad at the design aspect of the process?
By this question we mean the following:
Process design is focussed on capturing the greatest number of transactions or interactions and to efficiently and effectively ‘process’ them.
Yet all processes have EXCEPTIONS. If so, why are we so bad at designing Process Exception mechanisms?
Pareto efficiency is fine and there always has to be a cost benefit analysis of the value added in every process, but we miss or frustrate too many users by not moving beyond the confines of the cost-benefit, by just leaving the ‘Exceptioners‘ dangling, frustrated and bemused. If the old adage holds true that one negative word of mouth feedback is the equivalent of 10 positive comments, then that 10% exception item begins to be of major concern. Even at a lower tolerance threshold of say 5% exceptions and negative experiences, the risk and cost associated with negative customer / client feedback seems worth the effort to pay a bit more attention to managing the DESIGN and process loops to effectively deal with the exceptions. We’ll leave efficiency at the front door for the moment…
“Don’t waste a good crisis” – not entirely sure who first uttered these immortal words, although a Google search on initial analysis seems to attribute it (or some very similar words) to Rahm Emmanuel, the current Chief of Staff of the White House, part of the Barack Obama administration. The actual phrase might be attributed to an economist called Paul Romer.
However, irrespective of who uttered the words initially, it is true that borne out of crisis the spirit of innovation always seem to rise like a new Phoenix bringing both hope and opportunity with it.
That is the great gift that the ‘study of scarcity’ that is economics provides us with.
At the moment we are conducting a research study into how nano and micro businesses might find new routes to market and sustain themselves during these strained economic times as part of the extension of the outsource provider to the Shamrock Organisation. We will be trying to uncover some of the factors that lead to collaboration and other forms of formal and informal business structures that promote and underpin this form of collaboration.
Please watch this space for updates in the very near future.