Yesterday, I found myself debating the name for an upcoming newsletter campaign. As names were thrown around, the comment was made that it should contain some allusion to ‘online or ‘internet’. This got me thinking. Is the distinction between Business and Online Business really valid anymore? Why should we continue to compartmentalise the web as [...]

One of the most overstated and misunderstood concepts in business today must be ROI - return on investment. Ever since the arrival of digital marketing with the promise of highly specific metrics capable of breaking down a campaign into detailed numbers of clicks, conversions, dollar value and revenue versus cost, lazy marketing has been ruled by the instant analytics displayed on a sales spreadsheet. Every proposal becomes prefaced with “What is the potential ROI?” Every campaign is judged by the immediate numbers with little consideration of context, long term effects or related benefits to the business.

Customers don’t buy products.

You read that right. Before you click away thinking I’ve finally given up on life and gone ga-ga, think about it for a moment. Customers don’t buy products - they buy the means of achieving a personal goal. That means your business isn’t really the product you are selling, but the goal others are achieving.

“Any company that can’t imagine the future, won’t be around to enjoy it.”

CK Prahalad

Decades ago, the pace of change was slow enough that the future seemed far away. The car people were driving today would still be around next year. Technology still lasted for years instead of weeks. Companies could feel safe and secure operating within rigid business models based around what worked before.

Think social media is all about Twittering your FaceSpace to all the Diggers and sticking it on YouTube? Wonder why so many people say they tried to use social media for their business but didn’t see any real benefit? Want to get that lightbulb moment where the point becomes clear?