Commercialising the Big Idea in a world of unlimited ideas

Of Fame and Failure - 2/3

INT – PUB – NIGHT

MW – zoom in on two blokes on separate tables as they sit down to watch the footy on the big screen.


The Big Idea

I’m having a quiet beer at the local pub just watching the footy after a long week at work and politely say “G’day” to the bloke sitting at the table next to me.

After a quick chat about the footy he asks what I do for work and before I can finish the sentence he starts pitching the “Big Idea”!

Note:  Within 7 seconds of any pitch we’ve already made a subconscious decision.  There’s a right time and place for everything.

Don’t get me wrong I love “Big Ideas” – whether it’s art, new tech, a new show to produce or new ways of thinking.  A question for me is always what makes an idea succeed in the competitive world of unlimited ideas?

Why some ideas succeed & most others fail is not just the product or service being pitched – creativity & innovation are nothing more (or less) than a  combination of things before.   Everybody is creative but not everybody practices and does the hard work at making ideas happen.

Creativity is thinking up new things. Innovation is doing new things. – Theodore Levitt

Talk is cheap and ideas are limitless so before I’m really interested I want to know how much real work has gone into the idea.

Most ideas stop at this point.

Key Questions to Frame the Big Idea Pitch

The key questions before any pitch include –

  • What is it – the value proposition?
  • How do you interact with customers?
  • Who is your customer and what segments?
  • How do you reach them?
  • What are the resources required?
  • Who will help you?
  • What activities need to happen?
  • What will it cost?
  • How much money will it make?

Now break those questions down into both a punchy tagline and powerful 15 second pitch.

The big difference between most success and failure are those that go beyond the fast think & talk, who do the research and preparation, who take risks but most importantly ship, then when they do, persist when the doubters voice, who learn & then if needed pivot and learn again.  

Other tips

  • For entrepreneurs you need to continually build a reputation and habit for delivering. 
  • Great timing is also very important  – the right product or service at the right time and right channel.
  • Passion – without you don’t put in the hundreds or thousands of hours for little or no pay.
  • Attitude is everything.  You and your idea is competing against hundreds and thousands of others for attention.  
  • and finally, do you understand your investors standard evaluation model for determining what’s good and worth investment for them?

Is your expectation over stated?

Commercialising the Big Idea

Let the auditions begin!

Commercialising Fan Generated Content #SharkCastTV

SharkCastTV – Fan Generated Content

As a lifetime, die-hard, born and bred Sharks fan, I love our iconic special guest on SharkCastTV this Thursday night in the lead up for the local Sharks vs Dragons footy derby played this weekend.    
 

In regards to the show, from a digital media fan engagement perspective, this idea is something I’ve been working on for many years to bring to market and commercialise – ie the ability to commercialise fan or user-generated video content.
That’s not to say it will be successful, there are costs and audience targets to achieve. but hopefully the building blocks are right – engaging content, presenters, authentic  and professionally produced (within a Football Club resource framework)  – only time will tell.
 
In making this happen I must acknowledge how very fortunate to have the right talent with an existing platform of listeners, readers and experience on which to enrich the product. plus a supporting open-minded management team looking to position the Sharks as more than just a football club.
 
Commercially very pleased to say we have also secured CrownBet our show presenting partner.
 
Note: Others show ideas in the pipeline – one step at a time.
 
Watch SharkCastTV this Thursday, 7PM http://www.sharks.com.au/sharkcasttv

Navigating the Marketing Technology Matrix

Digital Transformation

Every business wants to get a better understanding of who their customer is – we want to know who is visiting our website or app, what they are saying about us and what we can do to improve.

The challenge in this increasingly and rapidly changing digital world is how do businesses navigate through the Marketing Technology Matrix and what are the critical elements and pathways to success? Further, what is the best method, mindset and framework to approach the project?

In terms of writing a blog article – it’s a good time now to drop in a key quote to frame the next deeper level of content.

“All of life is one action following another, interspersed by periods of rest. If we are in doubt about the outcome of our actions, if our thoughts are concerned with, “What if I should fail?” we will be filled with hesitancy, uncertainty, and our actions will lack the conviction needed to obtain a decisive, favorable outcome. Even the worst outcome we can imagine will ultimately benefit us. It is because of that law of favorability that the Universe is able to continue and we are able to bring about the fruition of our plans.”
Wu Wei, I Ching Wisdom: More Guidance from the Book of Answers, Volume Two

As we all know there is abundant information available on the Internet – you could spend every minute of every day ingesting the latest TED talk talk and blog post but where do you draw the line and begin the journey – the fact is, if you’re in business and reading this then you’re already on the path.

But how do you navigate through the Digital Marketing Matrix – where nearly 2,000 main vendors cover everything from CRM’s (Customer Relationship Management Systems) to analytics, CMS’s (Content Management Systems) and Social Media Marketing, Search and Tag Management.

Source: Marketing Technology Landscape Supergraphic (2015) – Chief Marketing Technologist

So, what is the process to develop your Digital Strategy?

Step 1. Destination – Begin with the end in mind.

What this means is to focus on the goal.  What is the business goal – increased revenue, brand health, customer experience, operational efficiency?  For many of my presentations over the last ten years I borrow the Social Media Measurement Compass slide from Brian Solis  at Altimeter 

Around each of these goals is a much deeper framework of key concepts, insights and actions.

Step 2.  Define the Metrics of Success and Recommend Actions

Step 3.  Organisation – resources, training, barriers

People – who are your thought leaders – both internal and external?  The key stakeholders in your game.

Step 4. The Landscape – Audit your existing infrastructure.

List all your technology – what role does it play within your organisation?  What does the data look like?  What role does it serve?  Will it talk to other programs?

Step 5. Develop the RoadMap

Challenge assumptions.  Threats and Opportunities.

It’s a work in progress.

“It furthers one to undertake something. It furthers one to cross the great water.”