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Is Privacy an Anamoly? Collective Intelligence

The New York Times recently ran an excellent article by John Markoff about the changing concept of individual privacy in the digital age.  The article discusses some of the implications associated with being increasingly connected.  GPS enabled devices, online activity, social networks, credit card purchases, and other technologies can paint a vivid profile of an individual, which could be used by numerous sources for activites both good and bad.

How could such data be used for good?  Suppose a company possessed information about where you are, what you are doing, and why; they could offer you real time incentives to purchase specific products.   It would be analogous to virtual haggling to get consumers to behave a certain way.  Need a pair of dress shoes?  Are you at the mall?  You wear a size 11 right?  Well suppose a retailer within the mall knew you were there looking for a size 11 dress shoe, which they just so happen to have an abundance of in stock.  They could text you a message stating that for the next 3 hours you could redeem the text on a new set of black loafers – size 11.  Not only that, they also know that your spouse has a birthday coming up, and will offer you buy one get one 1/2 off to incent you to purchase more footwear.  They know the correct size, and have the ability to make suggestions based on past purchases and the purchases of similar consumers.

Now suppose that this offer is passed up repeatedly by consumers within a period of time.  Just like that, the deal could be modified until the desired consumer behavior occurs. Hyperefficient capitalism at its best.

How could such data be used for not so good?  Well, that retailer or perhaps the credit card company,  may note that you are buying special shoes designed for people with circulatory issues as well as special clothing to help improve circulation in extremities.  They may also note that you are purchasing sugar free candy at the counter, and that you bought a sugar-free latte.  Later, their video might capture footage of you sitting on a bench eating a cookie and drinking juice you bought in the store.  Now suppose an insurance company is concerned about the cost of covering people with diabetes, and wanted to obtain data regarding consumers of specific items that those with diabetes might purchase.   They could follow your activities thorough data purchased from the retailer and make judgements about your risk profile.  This data could then be used to deny coverage to consumers. Hyperefficient capitalism at its worst.

Both of these scenarios are hypothetical in nature and admittedly oversimplified.  One involves the use of data to help a consumer get something they desire.  The other involves the use of similar data to deny a consumer from something they desire. Both involve the elimination of privacy as more and more data is collected about us – sometimes knowingly and sometimes not.

Still, it seems that people overall are not particularly concerned with the collection of personal data.  The attitude toward the loss of privacy in exchange for convenience is overwhelmingly laissez faire.  As Markoff ponders, in an age of Google, iphones, GPS, and Facebook, has privacy “become an anomaly?”

The question becomes what is your company doing with its data?  For most, the reality of today is likely nothing, or at best very little.  For all of the hype surrounding the potential use of data, much of this valuable information sits fallow within the servers, computers, and files of firms.  The big ideas are out there, and now it is a question of who will capitalize on them – good, bad, or otherwise.

Is your company formally gathering, processing and utilizing data to influence consumer behavior?  Could you?  Are you adequately protecting the privacy of your Clients?  Should you be?  Are individuals within your firm potentially accessing sensitive information for their own interests?  Is your competition doing a better job of mining the collective intelligence provided by data than you are?

The reality of today is that you have an amazing opportunity to impact the lives of those whom you serve through data.  How you do so is largely up to you.  For the record, I am a huge fan of size 10 Adidas Gazelles, and I would love a red pair.  The next time I am near your store, text me and let me know if you have a great deal for me.

You’re Leaving a Digital Trail. What About Privacy? – NYTimes.com

LUCRUM Radio – Episode 11, Daniel Johnson Jr.

Daniel Johnson Jr. is one of the most prolific users of social media in the Cincinnati region.  Daniel is the founder of New Media Cincinnati, an avid blogger, podcaster, Facebook member, Twitter user, and participant in numerous other web platforms.

Daniel is successfully utilizing social media to make human connections – using the web to amplify his traditional networking activities.  In doing so, Daniel has built a loyal and large following of friends and colleagues both locally and nationally.

In this episode of LUCRUM radio, Daniel shares his thoughts on the value of social media.  He discusses how he got started blogging, and why he has continued to stay engaged in the process of creating and participating in conversations on the web. Daniel also offers some great tips for managing time and creating content on the web, as well as his strategy for maintaining multiple sites and platforms. (He has multiple blogs and 5 Twitter accounts and keeps them all on track)

Thanks to Daniel for taking the time to share his thoughts with us. It was great fun and very enlightening.

Listen in on this episode of LUCRUM Radio…

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RYZing Trend

When I was in grade school, I used to spend a lot of time drawing pictures.  I would draw my name in various font styles.  I would draw airplanes ( usually F-16’s) streaking across the sky.  I would draw bugs and trees, people and monsters, mountains and rivers… and shoes.

I remember being in 1st grade trying to draw a picture of my John McEnroe style NIke’s, sometimes altering the color of the swoosh – which we could only get in red and light blue back in those days.   I later gravitated toward doodling Adidas logos in differing color schemes.  Then came Air Jordan’s, which I must have drawn and redrawn 1,000 times – usually in Carolina blue and white.   I remember imaging how great it would be if I could just make my own shoes.  Surely they would have been sweet kicks.  I would have made a million dollars, bought an island, opened a skate park, hung out with Dan Marino and had my own show with Alyssa Milano.  Alas, no such luck…

However there may be hope for the doodling, daydreaming, youth of today…

NPR featured a great story this morning about Oregon based shoe manufacturer RYZ.  Similar to the T-Shirt company Threadless, RYZ relies on “the crowd” to design its shoes.  No big marketing department.  No R&D.  No long design cycles.  No focus groups.   No big advertising budget.  Oh… and none of the overhead that comes along with those things.

Nope, instead of all that, the company relies on the community of visitors to its site to create its products and then to vote on which designs should be produced. The winning designer receives $1,000 and a 1% royalty based on sales – a fraction of what it would typically cost to design and produce a pair of shoes.   Better still, the process – which would take up to 12 months in a traditional shoe company – is as short as 6 weeks.

RYZ is succeeding by using technology to involve consumers in the process – an important trend for all businesses to embrace. The company is successfully leveraging the internet to generate interest in its products, engage consumers in the the design process, and tap into the collective wisdom of the crowd to pick the right products to produce.

More and more businesses are utilizing community based design as a strategy for success.  Because of the global reach of the web, innovation can now be driven in large part by the user community.   Consumers want to be in control.  They want to be engaged, and they want companies to listen to them.  Technology makes this all possible.

As this trend begins to permeate into other segments of the economy, this will create new and exciting opportunites for collaboration between companies and clients.  From what is on television, to what is in the grocery store, to which concerts come to your city, to what your kids get for Christmas.  The world is more and more about the wants and needs of the consumer.

Do you think your business is just too complicated to embrace this model?  Think again.  In a global economy with seemingly infinite options, engaging the consumer is no longer an afterthougth.  Rather it will become the central thought for business success.

How could you begin to tap into the collective wisdom of your clients and that of the world to transform your business?

Crowd Sourcing Turns Business On Its Head : NPR

My 9 secrets of successful leadership

I have lead many teams over the years and have had a good measure of success. Early on in life I have found what I consider is the key to leadership. According to Ayn Rand’s “The Virtue of Selfishness”, she asserts that being selfish is a real virtue (thus the fancy title)…that everyone acts in their own, best self interest. While her conclusions from there are suspect to me, I do see some value in what she is stating.

LUCRUM Radio: Episode 5, Craig Jolley Part 2

Listen as Craig Jolley, Web Marketing Manager with National City Mortgage, and I continue our discussion of emerging technology and how it will impact the future of business.

Craig has some great takes on how the “journey is as important as the destination” in terms of making technology that has an impact.  He shares his thoughts on where technology has come from and where it is headed.

Thanks for Craig for taking time to speak with me, and for sharing his insights.

Enjoy!

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On Sales…

I recently attended two sales calls where disparaging remarks were made (in gest) about the Sales profession. I took these in stride – laughed with the group – but walked way questioning why, sometimes, my chosen profession gets such a bad wrap. Sales is an integral part of business. Without sales – businesses would cease to exist. Have you ever stopped to think – what would happen if no one in your company sold the product or service your company produces or represents? What would happen to your job?

In reality – everything gets sold and bought. It’s part of free enterprise – of which our country is based.

Stop to think – a “salesperson” sold the ink to the company that manufactured the pen you are writing with. Someone sold the material to the furniture manufacturer for the chair you are sitting in. Someone sold you the Starbucks coffee you are drinking this morning, or the flour to the baker for the danish you are eating. Let’s face it – the selling and purchasing of goods is an essential part of life.

To many people the sales person is either some schmuck in a poor suit, using tactics and techniques to get you to buy something you don’t need or would rather not purchase…..or the person in the expensive suit, driving an expensive car, whose main “trick” is manipulation.

The fact – is that no one likes to be sold…..me included.

I do, however like to purchase items/services that make mine and my family’s lives easier, safer, healthier, and more enjoyable.

Sales is not, and should not be a craft of deception and manipulation. Instead it should be the ability to question, listen, consult and determine if your product or service will benefit the client. One of the most important traits of a good sales person is the ability to *listen*. It is also the job of the salesperson to educate and advise the client – this includes educating the client on the product/service the salesperson represents – and being honest with the client if his/her product/service is not a good fit.

While the remarks made were in no way directed towards me personally, (in fact they were directed at some of my competitors), they did make me pause.

Here’s hoping the next sales call in which you participate, your sales person listens, educates and advises you correctly – whether that involves his/her product/service or not. If he/she does her job correctly, it will solve a problem, reduce some pain, and make your job/life easier. When that happens – and at the risk of sounding too cliché’ – everybody wins.

LUCRUM Radio, Episode 2: Joel Suggs

Christy Rollyson, one of our Account Executives recently wrote about her first experiences on the golf course and how golf relates to business.  I asked PGA member Joel Suggs to join me and Christy in a discussion about conducting business on the golf course, how to approach the game as a novice, and how to ensure a lifetime of continued improvement.

Joel is Southern Ohio’s only PGA Master Teaching professional.  Golf Range Magazine has rated Joel one of the Top 50 Instructors in America, US Kids Golf recognized Joel as one of america’s Top 50 Kids Instructors, and Golf Digest ranks Joel as one of the Top 5 instructors in Ohio.  Joes teaches at the Meadow Links & Golf Academy and can be reached at JoelSuggsGolfSuccess.com.

Listen in and let us know what you think.

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Golf Anyone?

Golf and business. Business and golf. There are definitely two schools of thought on this topic. There are the avid golfers that SWEAR more business gets done on a golf course than in the office and then there are the non golfers who absolutely scoff at that idea.

I was part of the 2^nd group for most of my sales career and I have done pretty ok without golf. I think Mark Twain said “golf is a terrible way to ruin a good walk.” For most of my life I was in total agreement with Mark on this one.

But I guess if I am brutally honest with myself I have always been curious about the “golfer.” I was probably even a bit jealous and here is why.

I have been on sales calls with coworkers or former bosses and I have witnessed with my own eyes a conversation between a potential prospect and the sales person go from lackluster to love when one asked the other “do you golf?” and the other said “yes!”

From that point forward, whatever these two individuals were discussing before this question was broached was just completely forgotten and the next hour would be spent talking about this golf course or that one, this new driver they just bought, or the “hole in one” they almost had on Tuesday and on and on and on…..I would just roll my eyes and wonder how in the world this happens? What is the allure of this sport?

Well, recently I had the chance to give this sport a chance. I was involved in a scramble with a bunch of girls who really didn’t keep score just wanted to socialize and get out in the sun and enjoy the day. It was very non threatening way to try it so I did.

Well folks, it has been a month since that first round and I will have to tell you that I have played almost every week and I cannot wait to do it again!

I guess there is something to be said for being on a beautiful course – no cars, no noise just trees and gorgeous grass for miles. It truly does have a way of taking your mind off the daily grind.

It is pretty tough too! I am amazed how on one hole on the course I can look like Tiger Woods (okay maybe not that good but not bad) and the next hole I am trying to figure a way to put 15 strokes on my score card without anyone noticing (yep – 15 strokes – did that!) I guess the unpredictability keeps you honest and it keeps the game interesting that is for sure.

But mostly I am excited that I can now answer yes when the golf question is inevitably going to be asked by one of my prospects over lunch.

Believe it or not, it is working – business and golf. I have a prospect that I have been working really hard to find common ground with and guess what – I have it – GOLF! He is spending more time with me now than he has in the past. I can talk the talk with him and it is fun!

So I guess as I move into the 2^nd part of my life I am going to have to disagree with Mark Twain on this one. Golf is actually making my good walk a lot less boring!

LUCRUM RADIO: Episode 1, Doug Ross

Lucrum Radio is our new podcasting series. It will feature interviews and discussions with thought leaders in business and technology, providing a forum for sharing knowledge with the world.

Episode 1 of LUCRUM Radio got us off to a great start. It features an interview with Doug Ross, CTO of Western Southern Insurance. In the podcast, moderated by fellow LUCRUM employee Andy Erickson, Doug and I discuss topics such as collaboration technology, crowd-sourcing, organizational dynamics, the integration of IT and Marketing, and the role technology can play in differentiating an organization from the competition.

Give the podcast a listen, and let us know what you think…

Special Thanks to Doug Ross for his willingness to participate in the project, and for doing such an amazing job of delivering insightful, innovative thinking.

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Recipes for Success

Using unique experiences to reach out to customers…. is the theme of a recent WSJ article that featured John Bostick, executive chairman of LUCRUM, and also President and CEO of dbaDirect. The article talks about how different small companies create unique opportunities to meet with their customers. The article was published on Friday, May 30, the very day after I attended one of John’s classes up at Jungle Jim’s in Fairfield, Ohio (another exercise in unique customer experiences – they have every imported food you never knew you needed ‘ 6 acres of food under one roof’ http://www.junglejims.com )_
The class I attended was called ‘Hot Thai Summer Sizzlers”. John prepared some wonderful Thai dishes, and Jim Hennessy showcased several unusual beers that enhanced the flavors of the food (except for the Paulaner Heffe – beer and clove are not good flavors in beer, in my opinion!). In the class, John prepared and discussed the origins of many of the exotic dishes he was preparing, but in an easy to understand and appreciate manner – demystifying many otherwise exotic dishes and convincing me that just maybe I should try this at home sometime. Everything was delicious, and while, a few offerings were too spicy for some of the attendees – don’t say he didn’t warn you about the peppers! – the different beer offerings were a great way to ‘cool the palate’. Several LÛCRUM customers and their family members attended, and as the WSJ article discussed, it was a great way to get to know people outside the normal business environment. John and I both share the common experience of having worked for IBM, and are rooted in the belief that ‘people buy from people they like’. So, having the opportunity to get to know our customers in a more relaxed environment is something ingrained in us, starting with our days at ‘Big Blue’. The best testimony to the value they received from the class is the number of folks that were signing up for the next class! – Obviously, it was an enjoyable, informative session.
Just like trying new foods and beers can provide an enjoyable experience, trying new business offerings and concepts can also lead to a positive experience. For example, one of the offerings that is unique to Lucrum is our ‘Strategic Alignment Session’. Using a guided methodology, our consultants facilitate sessions for customers – taking them on a journey – starting at the beginning, and discussing their history (which quite frequently, everyone has a slightly different recollection of!), and using that shared history to guide the participants on the journey, resulting in a shared experience, mutual goals and ways to achieve those goals. These sessions are one of those things that you just don’t fully appreciate until you’ve actually observed, participated in, or spoken to someone about. I sat in on one session during my first weeks with Lucrum, and was impressed by the way our consultant (Eric Duell, in this case) led a diverse customer group at a local chemical firm through this process as they attempted to design a new customer pricing system. In the past few months, Eric has conducted sessions for 2 of my customers – both in very different businesses – one, a large financial institution, where we helped an off-shore firm develop a new sale and marketing plan. And then most recently, we drove a few hours north and used this same process with another custom in the non-profit sector, bringing together a very diverse group including marketing, IT, creative, and education departments, resulting in a new vision for a major website re-design for their institution.
In both instances, there were participants who walked into the session, thinking “this better be good, they convinced me to give up 2 days (or 2 – ½ days) of my time”. By the end of the first session, or even sooner, you could see that their impressions had changed, and they were eager participants in the process – and walked away from the sessions with a new vision and ideas on how to lead their organization through the next phase of their business plan. And, some were even ready to ‘sign up again’ for more sessions – to utilize this process in other aspects of their business.

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