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The End of Cash (it ‘aint necessarily so)

The End of Cash (it ‘aint necessarily so) | digitalNow | Scoop.it
Don Dea's insight:

Like all logical extrapolations, the argument that cash will disappear contains a number of critical assumptions. One is that people will trust digital transactions and exchange as much as – or more than – physical money.

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digitalNow
Exploring leadership, management, innovation, and technology issues and trends; impacting associations & non-profit organizations in the digital age.
Curated by Don Dea
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Can Marketers Overcome Cross-Device Targeting Barriers?

Cross-device ad targeting is in high demand from brands and agencies hoping to improve conversations across a growing number of screens. But it is also one of the most embryonic—and fragmented—areas of digital advertising, according to a new eMarketer report.
Don Dea's insight:

Inarguably, the biggest shift that both buyers and sellers must first undergo before making cross-device targeting a reality is to move from sole reliance on the cookie to some other identification tag capable of recognizing an individual across all digital screens, operating systems and browsers. In the absence of such technology, cross-device ad targeting just won’t work. - See more at: http://www.emarketer.com/Article/Marketers-Overcome-Cross-Device-Targeting-Barriers/1011731#sthash.1Exz5oIg.dpuf

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It's the End of 2014. Where's Personalization Now?

Despite the buzz around personalization this year, much room for growth remains as we enter 2015, with few marketers and agency professionals reporting extensive usage. And though advancements in technology have been made, for many, personalization remains more of a manual process than an automated one.
Don Dea's insight:

Just 5% of client-side marketers worldwide said they were personalizing extensively, and 10% of agency professionals said the same about their clients. Meanwhile, 29% of marketers and 26% of agencies’ clients weren’t doing anything. - See more at: http://www.emarketer.com/Article/Its-End-of-2014-Wheres-Personalization-Now/1011700#sthash.tHGZftll.dpuf

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Travel Planners Migrate to Mobile

Though mobile still lags PCs for the most-used digital travel research device, there's one area where tablets and smartphones rule among planners: content sharing. According to recent research, internet users are most likely to share travel content on social channels via mobile.
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Real Leaders Know When to Stop Talking

Real Leaders Know When to Stop Talking | digitalNow | Scoop.it
Real leaders set goals, make decisions and take action.
Don Dea's insight:

Leaders are people of consequence. They set goals, make decisions, take action and get results. Goals-decisions-actions-results. That’s what leaders do. That’s the chain of events that drive people, grow companies and advance civilization.

Understanding what it takes to be an effective leader doesn’t get any simpler or more logical than that. It isn’t rocket science. And yet, the topic is endlessly debated in business schools, books and blogs. What’s the result of all that rhetoric? More of the same.

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Proven Methods for Hatching Brilliant Ideas

Proven Methods for Hatching Brilliant Ideas | digitalNow | Scoop.it
The biggest thing you need to do is eliminate distraction. And here is how to do it.
Don Dea's insight:

The truth is, though, I love what I get to do for a living. Love it so much that the grueling nature of air travel soon fades away, and the joy of sharing, learning and coaching remains. The common theme in all my travels this year is that you and I and everyone living today face challenges. And we all need ideas to meet those challenges.

Which is why, in this year’s final issue, I want to focus on some favorite techniques for keeping your “idea factory” operating at peak levels so you can continue to turn the challenges you face in your personal and professional life into solutions and fresh opportunities. Here they are:

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Five Things to Do to Find a Great Mentor

Five Things to Do to Find a Great Mentor | digitalNow | Scoop.it
Don Dea's insight:

Volunteer:  I long ago lost track of the number of times I’ve volunteered for a big job or project. Sometimes, the answer has been, “Thanks, but no thanks.”  More often, it was, “Heck, yeah.” There’s some risk involved in volunteering, but there’s also risk in keeping your head down. Most senior leaders appreciate it when people volunteer for tough assignments. That lays the groundwork for a mentoring relationship.

Do Great Work:  Of course, you’re more likely to have a senior leader assign you to an important job or project if you have a history of doing great work. There are a lot of factors that go into great work. (Michael Bungay Stanier has written a great book on the subject.) Some of the elements that make my list include relevance, attention to detail and creating more value than was expected.  Great work attracts great mentors.

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Which Matters Most? Ambition or Talent?

Which Matters Most? Ambition or Talent? | digitalNow | Scoop.it
Don Dea's insight:

My favorite question in “The Inventory”, though, is “Which matters most?  Ambition or talent?”

While the occasional few interviewee tries to fudge it by saying both or by redirecting the question, most come down squarely on one side or the other.  Of those with a clear point of view, it seems to be about evenly split between ambition and talent...


Lately, I’ve been asking colleagues and clients this question.  One of those folks spent close to ten years as a bat boy for two major league baseball teams when he was a kid.  One of those teams won the World Series.   This guy has seen a lot of talent in his life.  When I asked him the ambition or talent question, he immediately answered, “Ambition, no question about it.”  When I asked him to explain he told me he’d seen a ton of major leaguers with plenty of talent wash out after a year or two.  His observation is pretty much everyone at that level has a ton of talent.  The differentiator between the stars and the journeymen is ambition.  The stars work harder.  They put in the hours on the practice and the reps.  They block out the distractions.  They focus on what they’re there to do.  (Derek Jeter comes to mind as I write this.)

As I think about my own observational experience in business and other fields, I’m inclined to agree with my former bat boy friend – ambition matters most.  Sure you have to have a certain amount of talent to get in the game but the differentiator is ambition.  Another word for it might be relentlessness.

What’s your take? Which matters most? Ambition or talent? Would love to read your opinion and why you have it in the comments.

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How To Use Social Media To Attract Millennial Buyers

How To Use Social Media To Attract Millennial Buyers | digitalNow | Scoop.it
How well do you know your millennial buyers? Millennials are the key marketing demographic. This data, charts and tips aid your millennial marketing.
Don Dea's insight:

43% of millennials are non-white, attributable to high Hispanic and Asian immigration. 33% of millennials (ages 26 to 33) have college degree or higher. 67% of recent bachelor’s degree recipients have outstanding student loans with $27,000 in average debt. 65% of millennials aged 25-34 are employed full time (Initiative research). - See more at: http://heidicohen.com/millennial-buyer/#sthash.C4b7TRLN.dpuf

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Gina Tucker's curator insight, December 17, 4:19 PM

Young buyers are looking online to learn about brands. Your company must have a powerful online presence to resonate with millenial buyers. This article outlines how to reach them on social media. 

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The thing about a clean sheet of paper

.

Don Dea's insight:
The thing about a clean sheet of paper

...is that it still has edges.

It's tempting to believe that creativity comes from starting fresh. But even when we start fresh, we approach projects and problems with self-created boundaries.

You can't do real work without edges, without something to leverage, but those edges don't have to be the same edges as everyone else uses.

Creative people often excel because they change the shape of the clean sheet.

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Are Loyalty Programs Worth It? Ask Amazon

One-off deals and low prices are great, but customer loyalty is better. As many as 50 million people consider themselves Amazon Prime members, an RBC analyst told investors earlier this year. And though the price of membership has increased more than 25% since the same time last holiday season, from $79 to $99, its members remain engaged—and purchasing more than non-Prime members.
Don Dea's insight:

In September 2014, RBC Capital Markets surveyed more than 4,000 Amazon customers in the US and found that 37% were Prime members. How important are loyalty programs to regular customers of the ecommerce giant? If their purchasing habits are any indication, then very. Prime members are more likely to order items from Amazon.com because they know the items will be shipped quickly. Prime members also spend more. While non-Prime customers said they had purchased items with prices below $25 and between $25 and $100, Prime members were throwing down money for bigger ticket values. The disparity between the two groups’ purchasing habits showed most starkly beginning at the $201 mark, where 18% of Prime members compared with only 8% of non-Prime customers. - See more at: http://www.emarketer.com/Article/Loyalty-Programs-Worth-It-Ask-Amazon/1011688#sthash.dcb1lRc0.dpuf

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What's next?

What does a good day look like? A good week? Who do you want to work with? Who are you trying to please? What sort of feedback brings you down? What’s your tolerance for being misunderstood? By whom? Is it...
Don Dea's insight:

Is it about process or projects?

Which part of the project makes you happy?

At the end of the project, what would you like in return?

What diminishes the work?

How high do the stakes need to be?

How close to the edge do you need to dance? Risk? Resources? Failure?

What will you take? What will you give? Who will you connect?

How much freedom will you sacrifice to get what you want? How much commitment will you promise?

What are you measuring? Smiles, comments, traffic, cash, media response, friends, peers, insiders, outsiders?

Will they miss you when you're done with this?

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Gamification Advocates Try Really, Really Hard to Make Work Fun

Gamification Advocates Try Really, Really Hard to Make Work Fun | digitalNow | Scoop.it
Companies want to lighten up boring day jobs with productivity-boosting games, but only a few are reaching the next level.
Don Dea's insight:

In the past half-decade, gamification has grown from a fringe concept into a mainstream strategy. In 2012, the tech consultancy firm Gartner estimated that in the next few years 70 percent of major corporations would use at least one gamification program and 40 percent would consider it a centerpiece of their corporate strategy. Critics have blasted the trend as an overhyped failure, pointing out that most work games are duds. (Gartner also estimated that 80 percent of gamification programs would be poorly designed and fail to achieve their goals.) But rather than give up, gamification advocates have redoubled their efforts, within the last year developing a more robust and comprehensive set of guidelines for how and when to introduce play into the workplace—a new wave that may help gamification unlock its sci-fi future potential.  

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How Consumers Prefer to Receive Marketing Messages

How Consumers Prefer to Receive Marketing Messages | digitalNow | Scoop.it
Customer Behavior - Consumers prefer to receive marketing messages, special offers, and coupons from brands via email more than any other communication channel, according to a recent report from Message Systems.
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Get Ready to Receive More Personalized Emails

Marketers are more likely to increase spending on email than any other marketing program next year, according to research. Personalization will be a theme here, with triggered and transactional emails as well as lifecycle campaigns the top two email programs of focus.
Don Dea's insight:

Among respondents to October 2014 polling by The Relevancy Group, improving segmenting and targeting was the No. 2 priority for improving email marketing ROI in 2015, cited by 40% of US enterprise marketing execs and 36% of those at medium-sized firms. This only trailed greater use of analytics to optimize communications, which is also critical for creating a single customer viewpoint to execute personalization. - See more at: http://www.emarketer.com/Article/Ready-Receive-More-Personalized-Emails/1011720#sthash.vacJiJXB.dpuf

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Culture Can Make or Break Strategy

Culture Can Make or Break Strategy | digitalNow | Scoop.it
A company however big or small, cannot successfully implement corporate strategy without employees who believe in the mission and understand how to...
Don Dea's insight:

The importance of culture cannot be underestimated in driving change, but it is important to be selective about the aspects of culture that needs infusing with the specific initiative. Any form of change is disruptive to some degree so it is not necessary to precede every strategy-driven change with a massive transformational exercise in company culture. Aligning a company’s strategy with its culture reduces the disruptive nature of the change, but it is still a change. So, savvy leaders ensure that culture and strategy work in collaboration for success, but in a balanced and efficient manner.
Read more at http://knowledge.insead.edu/strategy/culture-can-make-or-break-strategy-3730#AaUmrdcW7zvRMpJk.99

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John Caswell's curator insight, December 19, 12:36 PM

A common goal

Whether it’s a small start-up in the initial stages of the growth curve or a massive organisation pursuing global growth strategies, culture plays an important role in ensuring that the organisation stays on course and does not veer off the path.


Driving and implementing effective strategic change, is in most instances, a medium- to long-term priority for leaders. Similarly, an organisational culture also develops over time, with a combination of active reinforcement by senior management and voluntary cohesion and dissemination as the organisation’s beliefs and purposes permeate through the hierarchy. Because of the inherent patience that managers require to both drive strategic change and create a purposeful culture, it makes all the more sense that both work in conjunction with each other rather than against.



Read more at http://knowledge.insead.edu/strategy/culture-can-make-or-break-strategy-3730#CuoY01REFu1Sx8dR.99

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A New Business Strategy: Treating Employees Well

A New Business Strategy: Treating Employees Well | digitalNow | Scoop.it
“People are beginning to ask questions about the financialization of the corporation—has it gone too far, and is there a more equitable way to reward people for the hard work that they do.”
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Build a change platform, not a change program

Build a change platform, not a change program | digitalNow | Scoop.it
It’s not you, it’s your company. Management Innovation eXchange founders Gary Hamel and Michele Zanini believe that continuous improvement requires the creation of change platforms, rather than change programs ordained and implemented from the top. A McKinsey & Company article.
Don Dea's insight:

Transformational-change initiatives have a dismal track record. In 1996, Harvard Business School professor John Kotter claimed that nearly 70 percent of large-scale change programs didn’t meet their goals,1 and virtually every survey since has shown similar results. Why is change so confounding? We don’t think the issue lies with an understanding of its building blocks—Kotter’s classic eight-step change-management model is still a helpful guide. The problem lies in beliefs about who is responsible for launching change and how change is implemented.

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David Hain's curator insight, December 18, 2:00 AM

McKinsey, Hamel  on successful change.

Gary Bamford's curator insight, December 18, 2:49 AM

Don't change ..... evolve!

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Integrity Is Free

For businesses that keep their promises, there are often invaluable hidden benefits.
Don Dea's insight:

In the moment, doing the right thing, or doing things right, always seems to cost more.

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What kind of customers do you want?

Do you want customers (donors, backers, voters, members, vendors) who are: Litigious Price shoppers Loyal Bureaucratic Demonstrative Followers Leaders Luxury-focused Skittish Trusting Bottom fishers Eager Confident Easily amused Uncomfortable talking about money Part of the crowd Afraid Outliers Desperate Rich...
Don Dea's insight:
  • Easily distracted
  • Secretive
  • Joyful

Here's the thing: you get what you reward. You attract the customers that respond to the way you act. You end up with what you tolerate. You build what your audience demands.

You might not get the customers you deserve, but you will probably end up with the customers you attract.

Sure, you can swoop in and make the numbers by attracting a certain kind of customer. Is it worth it?

Choose.

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"Every business is a people business"

"Every business is a people business" | digitalNow | Scoop.it
To make businesses better and more competitive, we must combine the proven leadership skills and talents of women with men's leadership strengths.
Don Dea's insight:

What can we do to raise morale and productivity?

Share leadership with women. Learn from women just as they learn from men. Also, explore emotional intelligence. With simple, daily practice, we can significantly raise our EQ and have a positive and energizing effect on our teams. If anyone would like to find out their EQ baseline, I would be happy to direct them to resources that are available.

The bottom line and takeaway from the webcast was that we must have talented men and women working together at the highest levels of our companies. That is the strongest leadership possible, and we owe it to our people.

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Leaders Behaving Badly

Leaders Behaving Badly | digitalNow | Scoop.it
Don Dea's insight:

If someone can Tweet about what you’re doing, post your emails or shoot a video of you freaking out on their cell phones (and they can and will do all of those things), you really have to stop and ask yourself,  “Do I want to present myself this way to a large part of the world?”

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Social Media Metrics Facts

Social Media Metrics Facts | digitalNow | Scoop.it
Is your social media marketing yielding actionable results? To help here are 12 social media metrics facts with charts and 11 social media metrics tips.
Don Dea's insight:
Monitoring reputation on social media.

Based on Social Business Benchmark Survey, monitoring what’s said about your company is highly important. Specifically:

  • 81% of respondents use social media to learn about their firm’s reputation.
  • 79% of respondents use social media to monitor external communications.

- See more at: http://heidicohen.com/social-media-metrics-facts/#sthash.5jtYhnW1.dpuf

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Five Questions for Leaders Who Would Rather Be Effective Than Right

Don Dea's insight:

If you’re more interested in being effective than in being right, quit explaining and start listening. Here are some questions you can ask to listen and learn that will help you and everyone you work with be more effective:

  • What does success look like to you?
  • What’s important to you?
  • What else?
  • What do you need from me?
  • What do you think we should do?
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Mobile Facts

Mobile Facts | digitalNow | Scoop.it
Don Dea's insight:

87% of millennials always have their smartphone at their side, day and night 78% of millennials spend over 2 hours a day using their smartphones. 68% of millennials consider their smartphone to be a personal device. 

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Five habits for executives to become more digital

Need to catch up to the digital revolution? Here’s our cheat sheet for the C-suite. A McKinsey & Company article.
Don Dea's insight:
1. Think like a geek

Set up a challenge session. Get your senior leaders, tech team, and marketers together to confront the critical question: If software is eating the world, how could it eat us? For example, one European media company asked executives from a bunch of start-ups, “How could you disrupt us? Which activities would you replace with algorithms? What advantages do we have that you can’t replicate?” Not only were they surprised by the results—they acted on them.

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