TRANSPARENCY "THE FULL STORY"

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Information about TRANSPARENCY "THE FULL STORY"
Business & Mgmt

Published on November 3, 2008

Author: timkitchin

Source: slideshare.net

Description

A Soup to Nuts presentation on transparency and what it means for modern marketing....

The past, present and future of transparency. “Infodemocracy, and what it means for your brand”

Remember The Good Old Days? $5 What is it? Who made it? What’s it made from? What does it taste like? Where does it come from? How can I get one more cheaply? Who would drink a beer like this?

1950s-70s. The Opacity System…Focused on features and benefits. A great model for an industrial economy. Opaque customers – marketing is based on inspired guesswork Opaque products – any colour you like, as long as it’s what we have in stock Opaque organisations – a golden age for conglomerates and aspiring monopolists Opaque markets – persuasion ethos. Consumers trapped by choice, location, transportation and social class

Opaque customers – marketing is based on inspired guesswork

Opaque products – any colour you like, as long as it’s what we have in stock

Opaque organisations – a golden age for conglomerates and aspiring monopolists

Opaque markets – persuasion ethos. Consumers trapped by choice, location, transportation and social class

Brand value = Opacity Premium (n) Branding: the art of making money by concealing knowledge from targeted customers

Opacity heroes…

So why on earth would you change all that…? Opacity : Enhances economic premiums Protects competitive advantage Develops deep emotional bonds and repeat purchase Obscures dubious sourcing, pricing and employment practices

Opacity :

Enhances economic premiums

Protects competitive advantage

Develops deep emotional bonds and repeat purchase

Obscures dubious sourcing, pricing and employment practices

So why change…? Because Opacity : is anti-customer locks you into a single static proposition blindsides you to alternative value models STOP PRESS… Retailers start to destroy opaque brands by copying SUPERFICIAL FEATURES… Opaque Brands concentrate and multiply risk

Because Opacity :

is anti-customer

locks you into a single static proposition

blindsides you to alternative value models

The 80s and 90s. The Translucency system. Focused on experiences. A great model for the service-economy. Translucent customers – guesswork replaced by data-driven speculation. The rise, demise and repr i se of CRM … Translucent products – previously hidden ingredients and processes move ‘front of brand ‘(wholegrain, small batch, gluten-free, low fat, freshly-baked, in store…) … Translucent organisations – TBL/ESG reporting, philanthropy, and community appeasement programmes… Translucent markets – challenges to supplier-fixed pricing, price comparison sites, widespread re-intermediation…

Translucent customers – guesswork replaced by data-driven speculation. The rise, demise and repr i se of CRM …

Translucent products – previously hidden ingredients and processes move ‘front of brand ‘(wholegrain, small batch, gluten-free, low fat, freshly-baked, in store…) …

Translucent organisations – TBL/ESG reporting, philanthropy, and community appeasement programmes…

Translucent markets – challenges to supplier-fixed pricing, price comparison sites, widespread re-intermediation…

Brand value = Translucency Premium (n) Branding: the art of making money by selectively sharing knowledge with self-selecting customers

Translucency heroes…the master storytellers…

So why on earth would you change all that…? Translucency : envalues corporate purpose showcases deep-seated organisational assets enables multiple disruptive entry-points into new segments offers much more resilient competitive advantage (more authentic and difficult to copy) creates a broad, values-based ‘platform’ for customer intimacy, enabling cross-selling and upselling

Translucency :

envalues corporate purpose

showcases deep-seated organisational assets

enables multiple disruptive entry-points into new segments

offers much more resilient competitive advantage (more authentic and difficult to copy)

creates a broad, values-based ‘platform’ for customer intimacy, enabling cross-selling and upselling

So why change…? Because Translucency : is grounded in stories - not stakeholder needs or organisational purpose is still anti-customer – just selling bigger dreams still locks you into static propositions – only with higher cost of change still blinds you to alternative models – only reinforcing self-delusion…. STOP PRESS… Consumer advocates destroy translucent brand advantage by telling MORE TRANSPARENT STORIES… Translucent brands defuse and diffuse short-term risk at the expense of long-term risk

is grounded in stories - not stakeholder needs or organisational purpose

is still anti-customer – just selling bigger dreams

still locks you into static propositions – only with higher cost of change

still blinds you to alternative models – only reinforcing self-delusion….

“ What does the future hold ?”

Jetbluehostage.com Flickr.com/photos/filthywalmart Greenpeace.org/apple Exposeexxon.com Complane.typepad.com Ikeasuckz.blogspot.com But isn’t transparency a really bad thing…?

Only if you fight it… You can always engage, answer criticism, respond, adapt, collaborate… Open your doors, invite stakeholders in and start to learn… Even

SOCIAL NETWORKS PUBLIC PASSIONS THE BROADCAST SELF MARTINI DIALOGUE Social Identity Individual Identity

REAL-TIME COMPARABILITY INDEPENDENT ENDORSEMENT INFORMATION GLUTTONY MARKETS-OF-ONE Trust Trustworthiness

CORPORATE CITIZENSHIP ACCOUNTABLE PROCESS-CHAINS COMPETING VALUE-WEBS INSTITUTIONAL LISTENING Internalise externalities Externalise internalities

PERFECT INFORMATION LEAN PRODUCTION CONSUMER INFOSTREAMS CROWD CLOUT Individual efficiency Collective effectiveness

Potential for Intention Economics Intention Aggregation Social Marketing Potential for Social Marketisation

The Marketisation of everything The Socialisation of everyone The New “Social Market” In summary: the twin forces of transparency…

(n) Branding: the art of making money by improving decision quality for any stakeholder

The rules of the new social market: “Information Symmetry” Products: Whatever must be known can be known Markets: Whatever can be known, must be made known… Infodemocracy

Products: Whatever must be known can be known

Markets: Whatever can be known, must be made known…

Infodemocracy

The rules of the new social market: “Social Symmetry” People: Whoever must be known, can be made known Organisations: How you know matters more than who you know Sociodemocracy

People: Whoever must be known, can be made known

Organisations: How you know matters more than who you know

Sociodemocracy

Prediction: This Social Market will play host to two long wars: Power: Who will be in charge of brands? The war for primacy between demand-side intentions and supply-side resources Control: Who will get most value from individuals’ assets? The war for control of social information

The Brand War 2020 ‘superbrands’ will be the best interpreters of demand-side signals, not the best spinners of supply messages… The Identity war 2020 ‘superpeople’ will be empowered to actively manage personal and social ROI from their actions and intentions. Who will win the wars? 2 predictions:

The Marketisation of everything The Socialisation of everyone The New “Social Market” The Liberation of the individual The Democratisation of brands The age of transparency

Wider Assurance History Learn Scepticism Integrity Deeper Listen Future Stop fighting. Give in to transparency. Enjoy it. Collaboration

10 Don’ts for your Corporate Marketing Organisational Scepticism : Don’t drink the koolaid. Be sceptical of your own organisation. The rest of the world will be. 2. Keep listening : Don’t assume that what you say is what get’s heard. Understand the implications of your brand. 3. Keep learning : Don’t assume that your brand standards are good enough. Align expectations, promises and performance – constantly.

10 Don’ts for your Corporate Marketing

Organisational Scepticism : Don’t drink the koolaid. Be sceptical of your own organisation. The rest of the world will be.

2. Keep listening : Don’t assume that what you say is what get’s heard. Understand the implications of your brand.

3. Keep learning : Don’t assume that your brand standards are good enough. Align expectations, promises and performance – constantly.

4. Brand Integrity : Don’t imagine you can actually manage reputation. Focus on managing your conduct. 5. Go deeper : Don’t stop with brand audits and stakeholder endorsements. Strive for continual learning. 6. Go wider : Don’t stop at pleasing customers. Understand all your stakeholders’ needs and understand your value propositions to them.

7. Brand Assurance : Don’t promise. Deliver, and prove you’ve delivered. 8. Think future : Don’t just protect license to operate. Build your ‘license to innovate’ by engaging with critical permission-brokers. 9. Think history : Don’t copy. Use your own history. Empower your hidden assets: product backstory, human expertise, supply-chain processes and corporate purpose.

10. Stakeholder Collaboration : Don’t compete on the resources you own; compete on the resources you can connect.

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