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.

StreetSavvy Marketing Predictions for 2016

StreetSavvy Marketing Predictions for 2016

It’s that time again when just about everyone has predictions for the New Year. In November, Forbes contributor Kimberly Whitler posted predictions from the C-suite.   Adam Davidi, from the Guardian, posted predictions on branding based on conversations with “experts.”   I am sure we will see predictions from Forrester, Gartner and others as well.

We, at C-Level Partners, don’t want to be left out.  My colleague, Vince Ferraro, and I have been C-level executives in marketing and general management for many years. We now consult with companies on marketing and their go-to-market strategies.   We decided to look at “Big M” marketing, relating to predictions for how companies and brands go to market and how they interact with customers.  So without fanfare and any biased perspective, we share these predictions for Marketing for 2016. 

Let me be candid.  While most of these are predictions based on our work with clients, with start-ups and in talking with our marketing colleagues, there are also some “aspirational trends” that we hope come true for the profession as well as we believe they are important for marketing professionals and the businesses they manage.  Some of these trends overlap and leverage each other.   To us, that will represent the power of good marketing.  In no particular order, our top sweet 16 are:

1.       Cognitive Commerce has begun.  Marketers will use information on customers from their databases, the internet, and other sources to build stronger relationships, build predictive algorithms, personalize content, and deliver products and services to meet their specific needs.

2.       The distinction between offline and online will disappear as real time analytics will unite both camps.  Marketers will consider all (omni) marketing channels to optimize their marketing programs based on cost, effectiveness, ROI and the satisfaction quotient from building relationships with customers.

3.       Branding will be from the inside out.  Companies will not push the brand but the brand will be built on trust, engagement, referrals, authentic dialog, and transparency.

4.       Digital Marketing will cease to exist as a standalone part of marketing.  There isn't a need for separation anymore. World class marketers will know how to market in a digital world. Traditional and online marketing not only will coexist, but one will leverage the other and work better together.

5.       Advances in video broadcasting and continued growth in mobile devices will change TV marketing forever.   Marketers will use new technologies to enable a more immersive experience and TV and other broadcast video usage will expand on all screens - laptops, desktops, tablets, smartphones, HDTVs and even screens in cars,( i.e. telematics).

6.       Content will be created specifically with video channels in mind.  Further, there will continue to be a migration to mobile video which will become de rigor on a company’s website, in blogs, in training, and on Youtube.  Youtube channels for marketers will continue to expand.  In addition, the use of video podcasting and live streaming are also in a growth mode.  The world is clearly digital and going video and marketers will take advantage of that. 

7.       Personalization will grow as its ROI is measured and as customers come to expect to be treated as individuals.  We, at C-Level Partners, have written that there are now 7Ps of marketing and personalization is one of them.  Technology and marketing automation will enable this to happen.  This personalization will improve company branding and the ability to build stronger relationships with customers.

8.       Marketers will get back to basics.   Solid, well planned marketing will trump the sexy marketing in the past.  The CMO and business leaders will focus on marketing as a strategic investment to generate profitable revenue.

9.       The human touch will return to marketing.  How many of you love to listen to an automated customer service system saying that “your call is important to us…”  That’s bull!  Companies will realize that you are important and will show it by having more touch than tech or at least do a better job of integrating the two.  Being human will also apply to helping customers understand the value of the company’s products and determining what motivates buying behavior.  This is like getting back to the future… and I love it.

10.   Employee experience (EX) will be as important as customer experience (CX).  Engaged employees are critical because at the front line – in retail, sales and customer service- they ARE the brand, or at least a fair representation of it.   Engaged employees also feel part of the company, behave like owners, and will be promoters of the company's products and services.  According to our anecdotal evidence, only about 30% are engaged today.  Think Zappos, Starbucks, 1and1, and Jet for companies who provide both good EX and CX.

11.   Marketing and Data Science will be the new dynamic duo.   This will be key to understanding the customer persona from many angles - demographics, psychographics, sentiments, and buying behavior.  Vince and I, both being engineers, can relate and understand this dynamic.  We expect to see the CIO and CMO becoming BFF’s.  

12.   As a corollary to #11, data will be the new currency for the younger generation. Data will enable the ability to personalize the marketing message and make that message more meaningful and differentiated for a particular customer.   But it doesn’t only apply to the younger generation; big data will be used to help understand buying behavior of all customers and couple that information with the dynamics of profitable revenue growth for the corporation.   The new marketer will be, must be, a datahead or recruit the right people in his/her organization who have the skills to analyze the myriad of data available from business and marketing systems.

13.   Marketers will provide more original insights into business.  Marketers will not be mere curators of data and content.  The key word is original.  By having more insight into business, the CMO will be able to justify his/her seat at the executive table.  (This is a belief and expectation!)

14.   Customer success will be determined by a combination of satisfaction, retention, and referral.  We have always believed that the combination of the three components will yield the most loyal customers.   In conjunction with this, customers themselves, through social media, will become the company’s best sales people. Technology to help build customer engagement will continue to evolve and become more sophisticated.

15.   Marketing and selling will be in an omni-channel world.   Marketing execs will understand the buying persona of their customers and will use math and analytics to optimize the sales and distribution channels.  But the key here is that it will not be one channel vs. the other.  The marketer will blend online and offline, retail and wholesale, third party distribution and direct to ensure the buying experience matches the customer and to improve the profitability of the company.

16.   Chief Marketing Officers will evolve to become strategic businesspeople first and “marketing" executives second.  This is our wish and expectation; therefore, we took the liberty to include it as one of our predictions.  The CMO will be the linking pin from the outside world of the customer to the inside world of production, manufacturing and operations.  He/she will have a unique view on building and capturing valued.  In the past, we have not seen this from most of our traditional marketing colleagues as many have been focused on one area e.g. advertising, digital, brand, and product.  The new marketing executive will be a generalist, a businessperson with a focus on top and bottom line growth, steeped in data analytics, change management, and growth levers, coupled with creative and innovative bent.  We may be wrong about this one for 2016, but we believe it will eventually take root over time.

We would be interested in hearing your thoughts on your sweet 16 predictions for 2016.  Let’s keep the dialog going at www.clevelpartners.net.   And feel free to contact me at dfriedman@clevelpartners.net or Vince at vferraro@clevelpartners.net for a complimentary discussion on how we can help you achieve value creation and profitable revenue growth.

Some Thoughts on Thought Leadership

by:  Vince Ferraro, Managing Director, C-Level Partners.

This week I was I featured as one of 50 top marketing thought leaders in Brand Quarterly Magazine for 2015. (the complete list is at https://t.co/OvYoB48isa).   I am privileged to be part of such an illustrious list of talented and accomplished marketing professionals. All of the people mentioned are experts in their respective fields.

It got me thinking about what exactly is a thought leader and how you build authority, influence, trust, and credibility - attributes that most often go along with thought leadership? What makes a thought leader different from an expert, public figure or guru? What do they say, what do they do, how t do they act and how does that translate into thought leadership? My belief is that your combined experience, accomplishments, skills, consistency, and combination of other factors (over time) make you a thought leader. Many people can claim to be an expert in a specific area. That is an internal claim.  However, true thought leadership comes externally, from people who see and watch you. Thought leadership is bestowed by the people who give and individual or institution that status.

Marketing thought leader Jay Baer once said: "A thought leader is someone with proven expertise and experience who isn’t afraid to share it with the world without direct compensation.” This is partially true; however, I also like the list of quotations on thought leadership here.

Here’s my top 7 items that are useful to judge whether you are or can become a thought leader:

1.  Developing unique ways to look at a problem that were not considered previously.
2.  Not being afraid to look foolish for suggesting an idea. (think Isaac Newton and the apple)
3.  Challenging the prevailing wisdom and institutional theories.
4. Having internal emotional resilience in light of others vehemently disagreeing with your viewpoint. Be able to defend your positions.
5. The ability to take ideas, concepts, and explain them so even people outside your sphere understand what you are doing.
6. Be visible on as many credible interviews, podcasts, panels, speaking engagements, TV appearances you can get. Thought leaders are able to attract an audience.
7. Publish, Publish, And Publish! Get your ideas out there in the form of blog posts, guest posts, press releases, presentation slides, books, videos, and educational courses. Like academic intuitions, frequent and high quality content will get you noticed and respected.

There are no shortcuts to thought leadership. It comes from inside and outside your sphere of influence. What I can say this … writing and speaking are great pathways to thought leadership for you, your company or your brand. Produce content that challenges the status quo, is interesting, and thought provoking. Be willing to put your ideas and thought there and create a “smoothie” of new ideas, concepts, and theories. Though leaders are always pushing the envelope and challenging the status quo.

Whether we are a church volunteer, politician, business person, professional, company, or non-profit, thought leadership is derived from earning it.   Everyone has the ability to be a thought leader because everyone has a unique background and experiences that can be applied.  What is also interesting is that these unique diverse experiences collectively make for great teams that can conquer complex problems.  More to be said about this in the future.

If you want to continue the dialog, contact me at vferaro@clevelpartners.net.

Business Lessons from THE INTERN

I don’t normally do movie reviews; in fact, I have never done them and this won’t be the traditional movie review.   However, I wanted to write something about a movie I saw Saturday nite called The Intern, with Robert Di Niro cast as a 70 year old retired executive who took up the role of an intern to a young female CEO of an e-commerce start-up.

I enjoyed this movie for several reasons.  First, it takes place in the Park Slope area of Brooklyn, NY, not too far from where I grew up.  I resonate with things New York City.  Second, the context of the movie is an e-commerce start-up run by a young 30s woman who founded the company and is the CEO.  I can relate to that because I am an angel investor with TechCoastAngels and I have heard pitches from similarly situated women (and men) and have been a coach and mentor to these types of companies and even worked for a few of these companies.  Third, The Intern is a senior citizen and is recruited to the firm when they thought that hiring senior interns was the right thing to do.  I can relate to that character as a former executive and on the “wrong” side of 50.  Di Niro feels he can have fun in the job and has the passion and energy to help out.   I can relate to that as well.

Other than relating to the movie, the location, and the characters, I found a few take-aways from a business perspective.

1.  Everyone should find their passion.  Age is not an issue for sharing passion, having energy, or smarts.  Witness Warren Buffet and Charlie Munger, or Sam Walton when he was driving around in his F-150 visiting stores in person across the country, or Arthur Blank, or countless others who have a vision and desire to make a difference.
2.  It is hard to manage two families- a business family and a home family. Startups are like children and need to be nourished.  It is tiring and taxing to manage the business and the people at work, and then go home to switch gears and be a husband or wife or parent.  
3.   Leaders have to learn to delegate and not take on everything themselves. In the movie, Anne Hathaway, the founder/CEO tried to do everything herself and that caused part of the stress and almost caused her to lose her company and her family.  A few months ago, I wrote a blog on two words that can help an entrepreneur (or other businessperson) achieve success.  Those two words are FOCUS and PODFU.  The CEO needs to focus on what is important and then plan, organize, delegate, and follow-up (that’s the PODFU) to ensure things are on target.
4.  Age is a state of mind to a large degree. I have seen young executives who have no vision nor energy nor the passion and drive to succeed.  I have seen young executives who don’t fit the culture of a company whereas some of the “middle-people” felt right at home.  And interestingly, I have seen a senior generation fit in to a younger culture because each group was willing to learn and listen.  Why?  It’s what you bring to the table.
5.  Context and experience cannot be taught but can be applied.  In The Intern, years of management experience by Di Niro’s character proved helpful.  And so did his affable, approachable and helpful nature.   He even taught the younger generation what it meant to be a gentleman. Remember your handkerchief.  As Di Niro said in the movie, he is everyone’s “uncle” yet his expertise from his prior career coupled with his character helped the young CEO cope with the stresses of her business and family.

I enjoyed The Intern as a good way to spend a couple of hours and highly recommend it. It probably had more meaning to me given the premise of the movie, where it took place, and the start-up environment.  Rotten Tomatoes gave it a 59.   I gave it nine pizza slices out of a possible 10.

Let me know what you think and feel free to write to me at dfriedman@prodigy.net or at dfriedman@clevelpartners.net.