7 Keys to Make Complex Technology Simple to Understand

Have you ever listened to a company pitch their service or product and your eyes glazed over? I have, and it happened again this morning. I am both a consultant and angel investor and have listened to hundreds of company CEOs extolling the virtues of their company and product. In many cases when I have listened to a start-up pitch I have had to ask the presenter – normally a smart, technically adept founder and CEO – what the company or product really did. Being a techie myself, I can normally “get it.” However, sometimes the explanation is so obtuse and so long that I space out and don’t pay attention. And then, of course, if it is a presentation to an angel group, the presenter has lost his or her audience as well as the ability to raise funds.

Clearly, there are several ways to explain your product. To that end, I was reading an article on cloud computing and the author explained "For geeks cloud computing has been used to mean grid computing, utility computing, Software as a Service, virtualization, Internet-based applications, autonomic computing, peer-to-peer computing and remote processing -- and various combinations of these terms. For non-geeks, cloud computing is simply a platform where individuals and companies use the Internet to access endless hardware, software and data resources for most of their computing needs and people-to-people interactions, leaving the mess to third-party suppliers."  (From: http://searchcloudcomputing.techtarget.com/feature/Why-is-cloud-computing-so-hard-to-understand by Andy Mulholland, Jon Pyke and Peter Fingar.)   

That led me to investigate further and ask the question: How does one explain complex technology and make it simple to understand? To find that out, I had the luxury of moderating a Technology Panel on Eye On Business (watch https://youtu.be/2rRa5DwnoNA ) and with four technology executives discussed how to communicate complicated technology to investors and potential customers. The discussion is equally applicable to companies introducing a new product or service as well as ones that have technologies in the market.

Based on the thoughts of the panelists and some of my own thinking, I developed a list of 7 elements that should be considered when explaining complex technology.

1. Customer Context. The consensus of the panel was that you need to understand the customer, their frame of reference and talk to them in their terms. Put yourself in the shoes of the listener. If the listener is a VP, Engineering you can talk techie. If it is a businessperson, talk benefits and applications and solutions. I have extolled the virtues of a concept called “customer jujitsu” wherein you use terms similar to what customers say in a way and context they understand to make it easy for them to grasp what you are selling.
2. Use visual imagery. People learn and absorb information in different ways. Most are visual and therefore visual words such as imagine, see, view, picture are used in their pitches. If the listener is more aural, then use words reflecting sounds.
3.  Animate. As a corollary to using visual imagery, if you have the right marketing material on your website, develop the visual imagery into a story or animation to show what the product is or does. In the video from the technology panel, note the animation by ICS Software to explain one of their cyber products.
4. Naming/subbrand. Tying a new concept to a current concept or brand may make it easier to understand. People normally get the concept of better, faster and cheaper. Additionally, the words used to describe a concept hints at the benefit or application. For example, my colleague Vince Ferraro was GM for one of the HP laser printing groups and his team came up with the name Vivera ink to reflect the new technology of ink they developed. Without understanding the technology behind the ink or how the printer uses the cartridges, the name itself connotes brightness and vibrancy. It gets the point across very well. The biotech/pharma market in the way they name their products has been a master at explaining their products in this way.
5. Competitive Comparison. There is always a danger in raising a competitive name as the listener may question why you are better. But that also gives you the opportunity to discuss the virtues of your product or offering. The way to explain your product or service uses the following structure. “We developed a unique thermometer using technology x. This enables the thermometer to do a, b and c. Unlike competitors such as Thermometer Giant, Inc, our product does it better by x, y and z.” By using this system you show what you do, how you do it with an underlying technology while at the same time putting it in a competitive category by reference.
6. Analogy/metaphor. Metaphors and similes are used to explain the analogy. Sometimes this works and sometimes it doesn’t. I have heard many pitches for cloud and Internet of Things companies that say they are the “Uber of x.” I get the gig economy but sometimes that reference is overblown. The concept though, is to make a complex product simple by the analogy. I was working for a company, Narus, which used a complex technology to manage cyber security risks. To explain it we developed the analogy that Narus’s software monitored the digital DNA of the network by looking at the bits and bytes running across the network. Even the least technical reporter understood the concept.
7. Application/benefit. This is commonly used, in conjunction with functional descriptors to make it easy for the listener to understand the input and the output of the product. In explaining a product or service, the presenter uses concepts the audience knows or is interested in and presents the product, service or company in terms of the problems it solves or the benefits granted. Think about explaining a piece of hardware called a firewall – also uses a nice descriptor in the name to give an indication what it does. The benefit of using a firewall is to prevent things you don’t want from accessing your computer. Simple and easy to understand.

We trust that some of these ideas can help you. And we would be glad to discuss how you can explain complex technologies and products to generate top line revenue growth.

The Lazy Man's Guide to 8 Essential Qualities of a Great Logo

Image Source: Flickr

Your company’s visual identity is a key component of your brand’s platform. Unfortunately many CEOs and their marketing teams often equate rebranding to only envisioning a new company logo or catchy new tagline. That is actually backwards! I believe the development of a company’s logo and graphic design is the last step in building a strong brand. I will cover those steps in detail in a future blog post.

You probably know not all logos are created equal and while many are pretty to look at, only a handful actually accomplish the goal of supporting the brand and providing a visual cue to the “promise” of the brand. Make sure yours does by understanding what makes a great logo and implementing these 8 elements in your design:

1. Simple – fight the urge to over-complicate. That can lead to a logo that is too heavy, distracting, unremarkable, confusing and difficult to reproduce in all media . Think about the logo for Twitter, for Uber, for Snapchat, or for Sprouts.

2. Versatile – consider that your logo might be in print ads, business cards, letterheads, websites, banners, videos, black and white low quality newspapers, etc. It needs to be reproducible, not only in color but in black and white. In addition, will it be distinctive and still look high quality and appealing in all media formats?

3. Distinctive – it doesn't look like your competitors. Be unique and stand out.

4. Targeted – your logo needs to fit your industry and appeal to your audience. You don't always have to be direct and blunt in the image or name, as long as your logo’s colors and overall style communicate what you do and are consistent with what you want to convey.

5. Memorable – leave a mark, an impression, on your audience. You want a logo that is so unique and powerful that it can be remembered and recognized after just one look.  Which logos do you believe are memorable. I happen to like Coca-Cola and Ford as examples of a memorable visual identity design system.

Image Source: McDonald's

6. Appropriate – make your logo match your industry, but it doesn't have to be obvious. If you're a plumber, you don't necessarily need to have a toilet or plunger on your logo in order to get your message and point across. It needs to be consistent with the brand image you wishto convey. A relationship between the company name and image you use would be helpful in establishing your brand identity. Move beyond the basic Caduceus that many doctors use on their calling card. A logo doesn’t need to outright say what the company does. Restaurant logos don’t need to show food, dentist logos don’t need to show teeth, furniture store logos don’t need to show furniture. Just because it’s relevant, doesn’t mean you can’t do better.

7. Timeless – will your logo stand the test of time and still be relevant, interesting and effective in 1, 5 or even 15 years with modifications? Always go for longevity, not trendy. Having said that, if your business withstands the test of time, your logo will need to evolve over time as well. My recommendation is to review your visual identity system, including the logo, every three to five years. Witness how Microsoft or the Starbucks logo and iconography (all the elements of the logo, product designs, and affiliations) have changed over time.

Image Source: http://cyberjunkeez.org/2012/08/microsoft-unveiled-new-logo.html

Image Source: http://www.elevatordesign.co.uk/#blog

8. Effective — it must have an impact on the intended audience and be geared towards getting a congruent and desired “buy” response emotionally or physically.

An effective logo design starts with a solid business and marketing strategy. This strategy, vision, and how the company wants to communicate its competencies, functionality, customer focus, technology or other fundamental area of its business becomes the basis for a great design. Graphic designers, on the other hand are driven by other design elements. Therefore, in the real world, both business requirements and design requirements must come together to deliver a logo or graphic identity that can withstand the test of time.

Does your brand need to be refreshed? Email me at vferraro@clevelpartners.net for a complimentary 30 minute call (and my free book) on how our team can help yours build a breakthrough branding and marketing strategy.

These concepts and other steps in building a strong business or personal brand are detailed in my recent book Brand to Sell Masterplan, available on Amazon.

The Real Story of Trump's Brand Success – 5 Important Lessons

I have watched the campaign and investigated the career of Donald Trump for insights into his marketing and branding strategy. While some would call him a demagogue, bombastic, embarrassing and rude, there is no doubt he has built a successful business brand and media career and has attracted millions of people, across all demographics, to his campaign for president. He shows energy, confidence and enthusiasm, essential elements in any world-class brand. As I watched him speak and tracked his growing popularity and presidential campaign, I was left with the notion that Donald Trump understands and uses many successful brand marketing rules and techniques that should be in the playbook of any aspiring brand. Here is my list of lessons in no particular order.

BTW, this is neither an endorsement nor a negative on the brand of Trump, but merely a timely example of personal and corporate branding.

Signature Look

Whether it is a company or personal brand, all successful brands visually evoke immediate recognition of that brand's products and services. The visual identity serves as a touchstone for a brand's essence, personality and identity. Strong visual identity is meant to evoke an emotional response. While business brands typically use a logo, brands based on people are often built on a particular look that comes to represent that person. Think of Bono's sunglasses, Fidel Castro's beard, Michael Jackson's glove or Queen Elizabeth's hats. Almost any element of your clothing or appearance can be part of your unique trademarked look. This includes hairstyles. Think of Albert Einstein's crazy hair or Donald Trump's mysterious auburn hair comb over with his trademark Trump branded suit and tie. Love it or hate it, it has become a visual identity symbol uniquely attached to Trump's brand.

Source: http://www.vanityfair.com/news/photos/2015/09/an-illustrated-history-of-donald-trumps-hair#15

You can find a link to the entire history (yes ... really) of Donald Trump's hair styles in this Vanity Fair article.

Earned Media/PR

According to some reports Donald Trump has received up to $2B in free or earned media. This is in contrast to owned media (content you own or produced that gets readership) or paid media (advertising for eyeballs). Earned media is media that comes organically through websites, TV interviews and social media. The idea is the more earned media you get the less paid media you have to buy. How does he do it? By making himself totally available to be interviewed, through his raucous rallies and by continuing to provide new, weekly content that gets media to cover and report on the latest thing he said or did.

The chart below, by the New York Times and ASG Media, shows how the Donald is killing it:

Source: http://www.nytimes.com/2016/03/16/upshot/measuring-donald-trumps-mammoth-advantage-in-free-media.html?_r=1

Licensing

Donald Trump has also been successful because he licenses his brand. Trump hotels, Trump golf courses, Trump TV shows, Trump ties and many others. The Trump name is licensed for a fee and/or a cut of the revenue. Trump's licensing strategy is extremely important to his overall success and wealth. According to the Washington Post, "a one-page financial summary he issued when he launched his campaign last month valued his “real estate licensing deal, brand and branded developments” at more than $3.3 billion, which would make it the largest single source of Trump’s claimed $8.7 billion total net worth as of 2014." What does the Trump brand mean? The same article said, "full meaning of the brand: He is a world famous real estate developer. Famous for his endeavors not just in real estate but in sports, gambling, entertainment and recreation.” His name, they argued, had “developed significant goodwill and trademark significance.”

This doesn't mean that all brand licensing agreements are successful. The legal issues he is facing with Trump University and the questionable licensing and failure of the brand to create Trump Steaks, shows what can happen to brands that are in legal disputes or are overly extended. To make things even more complicated, not all of Trump's buildings are Trump owned as failed licensed name developments in Panama (Trump Ocean Club) and Baja (Trump Ocean Resort) illustrate.

Source: https://creativemarket.com/blog/2016/03/23/donald-trump-and-the-rebrand-of-the-century

Source: http://postonpolitics.blog.palmbeachpost.com/2016/03/11/trump-steaks-our-food-writer-gave-them-an-a-rating-in-2007-taste-test/

Storytelling

Compelling brands tell stories. Stories evoke imagery and meaning that help us learn about who we are and the concept they teach us. “It has been said that next to hunger and thirst, our most basic human need is for storytelling.” -Khalil Gibran.

There is real neuroscience behind storytelling as well. Science says that our brains are more activated when we listen to stories vs. being told facts.

Source: https://www.pinterest.com/TechniqueJunkie/writers-resources/

Storytelling makes facts come alive. They make conceptual ideas real and tangible. Stories help us understand why a person is unique. Trump's stories are about how he took a "modest" $1M loan from his father and turned it into a multibillion-dollar enterprise and how he raised a great family. Stories are also told in the campaign promises he makes.

Who could forget “I will build a great wall—and nobody builds walls better than me, believe me.” Stories are also told when he creates labels for his competitors. This is called “de-positioning.” Jeb Bush was "low energy" and Ted Cruz became "Lyin' Ted". Trump keeps his stories simple and "black and white" to appeal to the masses who are tired of political rhetoric. There are no ambiguities or complex narratives in his storytelling.

Archetype

All successful brands have built strong archetypes and have woven them into the personality, identity and storytelling of their brands. Archetypes have their basis in Jungian psychology and represent a stereotype of a universal character that frequently showed up in literature and dreams. In other words, an archetype is a pattern of a character – the images, symbols and behaviors that create a character in literature. The idea links people's passion and needs in the form of a character they identify with. For example, Dracula and Frankenstein represent archetypes of horror movie characters. A strong archetype combined with a great brand story, identity and personality is the stuff that makes brands great. World class brands do this well and Donald Trump is no different. Common archetypes are depicted in the graphic below.

Source: https://first-the-trousers.com/2014/11/25/positioning-roulette-brand-archetypes/

In addition, you can break down these archetypes into specific behaviors, motivations and attitudes. Scholarly research has linked these archetypes to specific brands.

Source: https://books.google.com/books?id=l6qXGiTld1sC pg. 13

So what is Donald Trump's archetype? There have been many examples of what it could be. For example, he has been characterized as a Political Authoritarian (North Korea's Kim Jong-un) or a peaceful Revolutionary (like Martin Luther King or Gandhi). And I believe there are some elements of each; however, I think Donald Trump's primary archetype falls in the Hero category (like Nike) and looks something like this.

Source: http://kayeputnam.com/brandality-archetype-hero/

This leads me to my final point that brands can fit in more than one archetype. There can be primary and secondary dynamics occurring. Great brands that have survived over time have a signature look,  garner strong earned media, presence through public relations, expand through licensing of their brands (where applicable), tell stories and ensure their brand essence and identity is firmly rooted in a strong archetype. There are many other elements of a brand to consider, but this list is a good start.

What do you think? Let me know your thoughts at vferraro@clevelpartners.net. And we, at C-Level Partners, are here to help you identify, solidify and create your company's unique brand strategy. Feel free to contact me directly for a checklist of branding activities, a copy of my newly minted “Brand to Sell” book, and also set up a one-hour, complimentary discussion.

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How Successful Leaders Prioritize - When Less is More

An old Russian Proverb says:  If you chase two rabbits, you will not catch either one. Think about

that in the context of priorities at work and the resources companies need to employ to chase those priorities. How many of you have worked for a company where the boss indiscriminately piled on projects that sounded just too good to pass up? CEO said that the company is not doing enough and her desire was to see how many more projects can be handled? 

One of my colleagues, Dennis Drent, was a new CEO of a specialty insurance company. It was an operational turnaround situation and much needed to be done to correct course. With the best of intentions, Dennis tried to fix all the problems in his first year! Needless to say, nothing got done in that first 12 months. In year two, Dennis directed the management team to choose the three top priorities after rigorous debate. All three initiatives were completed and the results began to improve immediately.

When I worked for US Cellular, a new CEO came on board and while I did not subscribe to everything he said, I did like his approach to strategic initiatives. He told us that we will focus on doing one thing well and when that is complete we will move on to the next priority.

I personally believe that there is a middle ground whereby the resources and competencies of a company determine how many projects can be handled simultaneously. Yet even with multiple projects, when a critical need arises, resources are refocused on the top priority.  So how do you know what is really a priority?  How do you set priorities?  How do you manage priorities?  And how do you incorporate their prioritization results into a "business battle rhythm?” 

Here are 6 steps to setting and managing priorities.  If you want copies of these tools, please write to me at dfriedman@clevelpartners.net and I will send them to you.

 Clearly define the project or initiative. Make sure there is clarity of the end results and the metrics for success. One tool we use is the Opportunity Template, a picture of which is located here. 

Note that each project has a clear owner, i.e. the person defined as “A” on the top line and has the basic tasks and metrics laid out.    

      Develop and use a process to rate and score the various, and perhaps disparate projects. One tool we use is called the Analytical Hierarchical Process. It ensures that the evaluators and decision makers agree on the way the projects are evaluated. 

In this case, I show a one level system and the key areas of evaluation are strategic, financial, competencies, and operational. Each area is weighted and a score can be given on how well the project meets that criteria.  A total score is then developed and an ordinal ranking of the projects can be determined.  If there is a legal or regulatory requirement that must be completed in the planning cycle, that automatically goes to the top of the list.

While many executives don’t like a mechanical process, the exercise enables all projects to be evaluated in a consistent manner based on what the organization or company wants to achieve.  If there are lots of projects, the executives can see what is on top and what is on the bottom and can debate which project is to be staffed with the right resources. The goal is to help the decision making, not to let a mechanical process determine the answer.

Resource the project with the right people.  Develop a strong team. This sounds so simple yet sometimes is hard to do. At C-Level Partners, one of the tools we use is called RACI. This enables projects to be resourced correctly. Eventually, depending on the number of projects, companies will run out of the right resources as those resources will become a limiting constraint. RACI stands for:

• Responsible:  who will be assigned to work on the project
• Accountable:  who has the authority to make a decision and whose head will roll if something goes bump in the night?
• Consulted:   who are the stakeholders that will be consulted before a decision is made
• Informed:  who has to be kept updated on the project e.g. those whose work depends on the project?             

      Track progress through a dashboard and make the project part of the organization or businesses “battle rhythm.”A business battle rhythm is a way the organization manages its business activities, processes, decisions and control points.  If these projects are priorities, in my opinion, they should be part of the executive dashboard where the results are measured, tracked, and adjustments made to the plan. We use a stop light tool on the overall project as well as on the subordinate tasks.  Each task or project is given a Green light (things are on target and going well, a Yellow light (the project is in for some turbulence and this is an early warning of potential issues), or a Red light (we are missing milestones and metrics and need to put more resources on the project, change course, or abandon the activity). 

       Note on abandoning projects. Abandoning projects is something that is difficult. Many companies never kill a project because there is too much politics in admitting failure. At one company we worked, executives were brutal. If a project was off course and in retrospect they made a mistake the executives killed the project.  When I was a VP at Ameritech I publicly made a special award to people who made the right business decision and one award was to a director for killing a favorite project.  The person who received the award did not want it because he perceived it would kill his career.  It did not! People were in shock at first. But abandoning projects for the right reason yielded some discipline to the company as people knew if a project they were on didn’t perform there would be accountability.

      Proactively manage risks.  We believe in managing risk and the impact of those risks on any project especially those that are strategic, revenue oriented, or operationally critical. One way to do this is through a tool called the Risk Impact Matrix which lays out the risks to a strategic objective, a project, a product or other priority.  Once the risks and potential impact is specified, the person in charge of the opportunity or project will work with the team to determine ways to develop contingency plans.  These contingency plans will be put into place if the overall project or even some of the tactics veer off course. See Brian Newton’s blog on ways to measure and manage at http://clevelpartners.blogspot.com/2016/02/defining-ways-to-measure-and-manage-risk.html.

      Conduct post mortems. Every organization is a learning organization. What this means is that we learn from our successes but sometimes we learn more from our failures. After a project is completed or terminated, the team lead, the person accountable, should provide a post mortem debriefing to determine what went well, what did not go well, and share the learnings of the project with other executives and team leads.

An Example

Let’s see how one fictionalized company handled priority setting.  Let’s look at a fictionalized company called HyperCorp.  The executives developed a list of projects prior to an executive off site that each thought would be important to the company and their functional area.  The initial list of 25 projects was winnowed down to 7 based on their determination that these projects met their financial, operational, strategic goals and they had the competencies and skills to resource these projects.  Some projects would have high priorities for the executive team itself, others for HR, others for IT and still others for Marketing and Sales.

This executive team concluded that of these 7 projects, two – integrating a newly acquired company and updating operating systems to conform to a new regulatory compliance requirement had to be accomplished.   These two initiatives consumed a substantial amount of IT resources; yet the good news was that integrating two companies used operational IT resources whereas updating the operating system required application development. 

The Marketing and Sales team had to make a choice as it did not have the resources to perform more than one initiative and because IT resources were consumed on the two higher priorities, Marketing and Sales had to forgo launching a new product at this time. 

The team decided to focus on only four projects:

1.       Updating the operating system for compliance

2.       Integrating the newly acquired company

3.       Redesigning and updating the website to remain competitive and to improve customer acquisition

4.       Designing a new sales compensation plan to retain and engage the sales team

One executive was given primary responsibility (the “A”) for each respective initiative, was required to develop a detailed project plan using the RACI system, and was obligated to report the status in monthly operations reviews.    The initiatives were announced to the entire company with the CEO stating that if anyone is ever in doubt about priorities, these initiatives get “fed first” in the order listed.  Case closed.

If everything is a priority, nothing is a priority!!!  Accordingly, this blog provides some structure and tools to be used by corporate executives to manage their priorities.  The number of priorities may vary in different organizations. Yet, in my estimation, at the top level of each company or organization, there should be a clear focus on no more than 2-4 priorities which are properly resourced. As one priority is finished, then the company can move on to the next one. We, at C-Level Partners are here to help you and your company with determining your priorities and advising on managing these projects.

If you have questions, please feel free to contact me at dfriedman@clevelpartners.net.  Also please like this blog and feel free to share it or forward it to your colleagues and friends who might have an interest. 

Your Business and Brand Renewal: Critical Components for Survival

Renewal of businesses and brands is critical for survival. That sounds trite but true. On-going businesses have challenges to stay relevant in their markets. A recent study indicated that of the Fortune 500 companies in 1975, less than 75 were on the Fortune 500 list just 40 years later. More than 500,000 new start-ups are created every year in the US alone. Of that, 50% are likely to fail within the first year. Within the first five years, another 50-80% are expected to fail.  There are many reasons for failure of businesses including a bad economy, lack of funding and lousy business ideas or structures. Certainly these are contributing factors. Yet, regardless whether you are a startup, small business or corporate giant, we believe that another big reason is a business' inability to adapt to changes and become “fast, fluid and flexible.”

                                                 

How does one meet that challenge? The marketplace demands and expects businesses and brands to evolve over time. A proactive renewal process keeps a business relevant and in tune with customers’ needs and new business models, as they too evolve. Sometimes these changes are barely noticeable beyond the normal rhythm of business news and information. On other occasions. it is big, noticeable "in-your-face" change.

Consider the following three companies: GM, GE and Kodak. During the Great Recession, GM had to be bailed out from a distressed state and eventually streamlined their car line and brought in new management to affect the turnaround. GE, a model of growth in the 80s and 90s had fallen on hard times and while the company continues to expand, it is not the Jack Welch's GE of old. Kodak, one of the great brands that many of us grew up with is a pale shell of itself as its business models and strategic plans did not evolve and the company was not able to take advantage of the new digital era. I am sure that each of the readers can think of several examples in their industry of companies that were successful and unsuccessful in their attempts to renew their business model and brand.

An example of a successful company that went through business and brand renewal is Cintas. Cintas started its business in industrial rags and laundry in the early 1950's. They created a distinctive set of capabilities and its own business model called “The Cintas Way” which was a combination of products and services wrapped in excellence in process and technology.  Their   plant operations, a highly refined logistics capability and a customer intimate focus in its sales and marketing that combined service innovation with customer knowledge helped guarantee their success.  Why? Cintas took a very proactive approach albeit somewhat evolutionary. Cintas grew its brand through continuous growth along several strategic vectors in the “Ansoff Product/Market Matrix.” They created new markets, new products and services based on their ever evolving strategic capabilities, and through distribution partnerships. Think about this. Cintas went from rags and laundry to address the security needs of companies by building a secured document destruction and document storage business. How is that for business/brand renewal?

Over and over I've seen how businesses that adapt and change are much more likely to stay in business than those who fight tooth and nail to stay the same as they have always been.

I'm here to tell you that no business is too big to fail or too small to succeed. Let's look at companies like Borders or Blockbuster.  Borders failed because they relied too heavily on the brick and mortar retail business of their stores. Barnes and Noble, by comparison, added technology in the form of Nook was more aggressive with e-commerce of their retail products. As a result, they built an eco-system of digital content delivery to reinvent their brand and their business. Borders went out of business in 2011 while Barnes and Noble is still in business today. At this time, it looks like Barnes and Noble will need another reinvention/renewal as it is struggling financially as of late.

In a similar fashion, Blockbuster failed because they stayed true to their brick and mortar stores and did not see the threat from a little-known upstart named Netflix. They failed because they were unable to adapt to the market disruptions in their business, mostly because digital delivery of content were disrupting their traditional retail storefront business. By the time they responded to Netflix, it was too late as this article explains.

Why did this happen and could it have been prevented? The companies that were proactive, fast in making decisions, fluid in their response, willing to pivot and flexible in adopting new businesses and business models were successful. Of course, a company is only as good as their executives so we have to give credit to the vision and execution of their top teams. They all anticipated change and adapted their businesses to the realities of the new marketplace. Continuous improvement requires a feedback loop that continually evaluates, assesses, designs, implements and manages the change that is derived from the process. Those companies that were successful delivered on this key requirement.

It's important to note here that this improvement process is a result of a “business system.” What do I mean by system here? A system is a repeated course of action – a way of doing things that brings about a desired result. The combination of people, time, money, tools, systems and processes used to manage the business had a significant and critical impact on the ability of these successful businesses to adapt, evolve and improve over time.

Keep in mind that no company, large or small, gets it exactly right on the first try, which is why starting a business or building a brand is such an iterative, discovery-based process. Through each business cycle executives will learn something new and modify or evolve their business model to adapt to change. Sometimes that change is incremental. At other times, the change is much more significant. Business assumptions change and your business models will change as you will learn more about the customers and niche you serve. Changing directions, implementing a new business model or revitalizing your brand does not mean failure. In fact, that realization is the end result of a visionary and clairvoyant company. It may or may not result in a completely new vision and direction. It does, however, mean taking stock of everything and adjusting the strategy and plan accordingly.

Do you have any business renewal stories you would like to share? For additional reading on this topic, please check out our other articles on renewal in our April C-Level Beacon newsletter and on our blog available at www.clevelpartners.net/blogs.  Also, there have been a couple of articles written in the HBR and TIM that focus on renewal that you may find interesting.

C-Level Partners focuses on profitable growth and we would be happy to chat with you about your brand, your business and your vision. Drop us a line at info@clevelpartner.net or vferraro@clevelpartners.net.

Adapted from my book, 'Brand to Sell', available on Amazon.com

How to Create an Awesome Tagline for Your Brand

How do you create a memorable tagline? Once you have determined your brand identity and secured your name, you'll want to set your focus on creating a compelling and memorable tagline. What is a tagline, you ask? Sometimes it is called a slogan, motto, catch phrase, trademark line or even strapline and basically it's a shortened (usually) benefit-driven version of your Unique Selling Proposition (USP) that's 100% focused on what your brand/product/service promises it will deliver  for your customer (what's in it for them). Through repetition in media and online, it will eventually be identified and associated with the brand.

A properly written tagline embodies your brand, mission and promise all in one succinct and unforgettable statement. It's short because it's meant to communicate your most important benefit, advantage or unique selling point in just a few words. But these few words have great power when done right. The best taglines can be measured against 7 criteria - clarity, simplicity, uniqueness, ownership by your brand or adoptability by the competition, benefit-driven, clever wordplay and brand-driven. A well-written tagline should allow you to immediately conjure up the name of the company that is associated with that slogan.

Now before you start racking your brain and trying to come up with something short and snappy, you need to know that there are two kinds of taglines and unless you're a big multi-million dollar company, only one is the right kind for you:

1.       Cost You Money: Making something out of nothing.

These are the cute and snappy but utterly useless taglines that do nothing for the brand they are attached to and the only way they catch on is through massively expensive and exhaustive marketing campaigns over time. You can judge for yourself which mean something today and who it relates to vs. the others that you have to question the marketing wisdom.

                Examples:

                 “We bring good things to life”

                “Have it your way”

                 “Just Do It”

                 “Eat Jimmy Dean”

                 “Drive One”

                 “We're Exxon”

                “We make it better”

                “Choose Freedom”

                "Pork - the other white meat"

                 “The only way to fly”

                 “I'm lovin’ it”

                “The King of Beers”

                 “Life's Good”

2.    Makes You Money: Relevant and Benefit-Driven

These are the ones that make you stop and think. When you hear them, they stick in your mind and conjure up the specific images, emotions and benefits the brand wants you to experience.

Examples:

 “Because so much is riding on your tires”

“When it absolutely positively has to get there overnight”

 “American by birth, Rebel by choice”

“15 minutes can save you 15% or more on your car insurance”

“The customer is always and completely right”

“The most exciting two minutes in sports”

 “Save Money, Live Better”

 “Connecting people”

“Good to the last drop”

 “Pizza delivered in under 30 minutes or it's free”

 “Melts in your mouth, not in your hands”

 “Finger lickin' good”

Can you see the difference? One is catchy, initially meaningless and would cost a substantial amount to embody in the buyers’ minds at the least.   Some of them have meaning today but after huge expenditures of money e.g. Nike's "Just Do It".  Others still languish and many have been abandoned because they are pointless and hold no true brand value, meaning or benefit to the customer.  The other set, however, swears an oath, creates a powerful brand promise and tells you exactly what you'll get, become, or experience when you buy into that brand.

When in doubt, ask yourself – if I were my customer, would I be compelled and inspired to buy this product based on the tagline alone? If your answer isn't a resounding yes, then go back to the drawing board and keep thinking! Remember, a good tagline is a promise you must keep. It should be short, to the point and memorable. It must capture your brand's essence, match your image and promise a strong benefit to your audience. And most of all, it should emotionally connect with your audience and evoke a specific emotion or action that you want them to have or do. Now that you have read this, audit and assess your own tagline. Does it stand up to this standard? Please let me know.  Share your favorite brands and tag lines and slogans with me and I will post them in a subsequent blog.

Here is a list of 360 taglines from famous companies. You can get that list here. There is another one with 400+ taglines that you will find here.  Step out on your own to develop the right tag line or slogan.  Or feel free to call me at C-Level Partners which can help companies in the tech, service, and manufacturing markets with their branding and marketing.  You can reach out to me at vferraro@clevelpartners.net or (949) 445-1080 x-501. I look forward to helping you achieve your success.

Excerpt from my book "Brand to Sell" available on Amazon.com.

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