MARKETING ACTUARY

May 14, 2013

FORGET ABOUT WHO WINS AND LOSES

It doesn't matter who wins or loses ... unless you lose when winning matters.

Tip: avoid having a three goal lead in Game 7 of a Stanley Cup playoff and losing in overtime like the Maple Leafs did (CBC Sports, May 13, 2013).

At the highest levels of competition, the differences between winner and loser are often miniscule. Look at the Olympics.
Sometimes the pros cheat to get ahead since incentives affect behavior. The honest competitors get tainted too (though maybe they are complicit by not reporting how abuses could take place). Honesty isn't often black and white but a gradient: minor decisions like “borrowing” a paper clip from work can lead to falsified expense reports.

The Emotions

Watching competitions is emotional. The thrill of victory and the despair of defeat. It’s easy to get engrossed. Do you realize how much time you’re spending watching, discussing and thinking about a game?

Fans get caught up in the competition but do the players wear gear with the names of fans written on the back? Unlikely. The attention doesn’t flow both ways.

Another Way

Jeffrey Gitomer asks how much money you make watching TV. He could also ask how much you earn watching sports (let's ignore gambling).

We have limited time and attention. Both are irreplaceable. Invest some in yourself. You then become the winner and have your own fans who give you referrals. Aren't you worth the bet?

You get results when you focus on what Stephen Covey calls your Circle Of Influence --- stuff you can do stuff about. Sports and other competitions may be in your Circle Of Concern but do you affect the outcome?

Stand Apart

We're defined by what we refuse to do ---- especially when others can’t resist the temptation. Spending less time as a passive observer (a couch potato) will not hurt you.

When you focus on what makes a difference, you learn. You get closer to results and further ahead of your competitors. You get ahead fairly. You become the winner while others remain watchers.

Links

PS There is a place for entertainment but there is also a place for getting results for yourself.

May 7, 2013

CREATING THE PERFECT NETWORKING EVENT

How do you make your networking event worth attending? We’ll look at three formats:

speaker-based
facilitated networking
infomercials from the podium

Speaker-Based

Networking may not be enough of an attraction. A speaker or topic may be the draw with networking as the bonus.

These events are easy to mess up.

Who made the selection? If sponsors have any input, the event suffers. It's best to pick speakers on their own merits. The sponsors get recognition in the invitations, on signs, on the screen and from the host. Isn’t that enough?

You're more likely to get sponsors on the platform when tickets are free. That's why I prefer paid events.

Examples

At FP Reach 2013 from the Financial Post, some sponsors were speakers. They took up spots that others could have been used better. There was some self-promotion. No thanks. I'm not planning to return.

In contrast, the Small Business Summit from The Globe and Mail does not give sponsors a microphone or waste much time thanking them. Yeah, we know sponsors help make the event possible. Attendees do too.

Facilitated Networking

Random networking --- walk into a room and talk to whoever you bump into --- has limited value. It’s easy to get struck talking to people you wish weren’t there.

Enter facilitated networking. The former Toronto Board of Trade did this best. You were pre-assigned to two or three tables, each with a facilitator and 6-8 networkers. The facilitator made sure that everyone got 120 seconds to talk. That's much more civilized than 30 to 45 seconds. You have time to say something with substance rather than a hook. You also get to hear from 5-7 other people. You quickly know who you would like to talk to further. One round takes about 15-20 minutes to finish. You then repeat the process at a different table.

Sometimes you get stuck listening to sponsors. Once, I heard infomercials from four bankers. They were of no interest since they would never give me a referral. Sometimes you have organizers at your table. This is reasonably good: as they get to know you, they can introduce others to you.

Infomercials From The Podium

I've been to several events where everyone gets 30-45 seconds at the microphone. I like the practice by not the events. Your brain gets numb when you hear commercial after commercial.

The Star Business Club had an interesting variation. They “only” allowed 30 infomercials (pre-selected in advance). The messages were delivered 10 at a time with networking in between. This was a nice improvement on an unsatisfying concept.

Tip: try an infomercial if you get a chance. However, pay attention to each second. Edit to fit the timeframe the way TV commercials do.

The Mississauga Board of Trade had an interesting approach for Good Morning Mississauga. Five pre-selected members each gave two minute infomercials. You'd apply in advance, pay extra and wait months (three in my case). Unfortunately, the rest of the event had random networking. Ugh!

Multipurpose

An ideal event has more than one purpose --- something for everyone. I like

a speaker or two: education
facilitated networking
food (sit down): more relaxing
getting a scan of business cards afterwards: can't meet everyone you want (cards included by permission)

Value

These days, my favourite networking series in Toronto are from the Star Business Club and Western Alumni. The latest Western event (where I volunteered) took place at The Bata Shoe Museum. We got a guided tour, a professor as a speaker, snacks and networking. That's excellent value for $15. .