For many of us, the New Year brings with it a sense of renewed energy and purpose. Personally and professionally, there is something about ripping the last page from a calendar and starting a new one that provides the boost needed to get down to business and accomplish those initiatives—projects and tasks—that up until Dec 31, you only talked about.
Skip ahead to Dec. 31, 2004. How many of these projects will you have crossed off your to-do list?
In these times of information overload, there seems to be an ever-widening gap between acquiring knowledge and taking action. We'd like to think this happens less in the business world than in our personal lives. Despite the tools and technology, or perhaps because of them, and the increased access to knowledge they bring, we still struggle with the very human challenge of translating knowledge into action, and action into results.
Given this challenge, what failsafe plan do you have for ensuring that what you know translates into what you do in 2004? This issue's dilemma asks: What does it take to close the knowledge to action gap in your workplace?
Getting all the action you can handle? Let us know what keeps you up at night. What dilemma do you take with you when you leave the office? Your peers would love to help. Write to us and ask our SWOT Team about your dilemma. Tap into the collective strength, wisdom and experience of this group. It works; and you could win a free copy of our book, A Marketer's Guide to e-Newsletter Publishing.
Revisit our previous dilemma—read below for your peers' best advice on the use of visitor data for your Web marketing initiatives.
Unite and make a difference!
• Give advice about this issue's dilemma.
• Read your peers' responses to the previous dilemma (below).
• Submit your own dilemma.
This Issue's Dilemma
SWOT Category: Internal Weakness
My New Year's corporate resolution is “don't just do it, get it done!”
Perhaps other readers can identify with the countless hours spent in meetings, assessing mounds of data and research, and teaming up with colleagues and managers from different departments in person or through an Intranet to share knowledge, develop strategies and plan projects and tactics for meeting our objectives.
My dilemma is that too often these projects lead nowhere and we just spend more time meeting and planning what we are going to do, while less and less gets done. My resolution for this year is to set smaller actionable goals that we can initiate, complete and measure within a manageable time frame.
—Angela M., Specialty Products Manager
Previous Dilemma
SWOT Category: Internal Weakness
I'm having a hard time convincing my boss that it takes money to make money.
For the third year in a row, our executive team has mandated budget cuts across the board. I am under pressure from my boss to produce results, but am having a hard time convincing her that it takes money to make money. I have updated our marketing plan for the coming year and require additional funds to execute and meet our target.
My boss seems to think that we can simply remove a few tactics here and there and still reach our sales goals.
What is the best approach for getting my plan approved with the budget I require? Can your readers help?
—Anonymous, Marketing Manager
Summary of Advice Received
Anonymous, your dilemma is shared by many on the SWOT Team. One central theme emerged: results. Mark Bodner, Principal of the aptly named Eighty:Twenty Strategies, puts it plainly: “Nothing convinces tight-fisted managers to loosen the purse strings better than results.”
Your SWOT Team peers support this thinking and offer several strategies for working through your budgeting dilemma as follows:
1. Provide evidence and/or an estimation of results.
2. Educate and update your senior management team regularly.
3. Seek to gain an understanding of your boss's view.
4. Reevaluate your planning.
1. Provide evidence and/or an estimation of results
Paradoxical as it may sound, supporting your plan with evidence, or a strong estimation of bottom-line results, is a great place to start. Be prepared to provide your boss and executive team with statistics on the success of previous campaigns. In a time of budget constraints, you may want to stick with tactics that are tried and true, can be shown to have a strong likelihood of meeting objectives, or require minimal financial risk.
Jason Hannah, Marketing Representative, PADI, believes the answer is simple:
Show a basic ROI for each initiative. If the company needs to cut budgets, then you can recommend cutting the initiatives that produce the lowest ROI.
Mark Bodner shares a similar perspective:
Marketing funds are generally cut because senior management has no idea of the returns generated and deems many “necessary” expenses as “luxury” expenses. Show your boss the profit you'll deliver and you'll get the funds!
2. Educate and update your senior management team regularly
Melinda Miller, manager of corporate PR for Invention Submission Corporation, elaborates on the importance of your approach with senior management. She offers specifics on communicating to gain support and cover your rear:
Educate, educate, educate. Senior management often doesn't recall the specific goals and objectives for a given project (beyond a general “we'd like it to be profitable/beneficial”). I suggest sending monthly recap sheets (bullet points only, one page max) with the goals/objectives restated each time. Then, deliver an update with supporting data on your results. In your case, it sounds like you could offer several if/then scenarios such as: it will cost X to accomplish Y; if we spend Z, we can accomplish Y-squared. Alternatively, if we slash here, we can expect a lead decrease of X%, a conversion rate decrease of Y% and a bottom line affect of -$. If you can project using facts, figures, pictures with circles and arrows, and bullet points in a monthly recap, your executive team will be reminded—in an “at a glance” memo—of what you're trying to do, and what your roadblocks are. Quite frankly, regular communication with and education of your executive team (in writing) will cover your rear, if folks go finger pointing next quarter.
Make it easy for them to know what you're up against. Voluminous reports and spread sheets make busy executives nod off in about four seconds. Remember—it's a marathon not a sprint. Choose your battles, and own up to the fact that sometimes there is just no more money. If you communicate that to your executive team concisely and regularly, come the next fiscal yea, you will have planted the seeds for additional funds to pursue some of your projects.
Melinda also suggests finding an ally on the executive team to help get your plan approved:
Who else on the executive team could you approach to lobby on your behalf? Sometimes just an informal chat can bring an ally into your corner that might help free up some dollars. Best of Luck!
3. Seek to gain an understanding of your boss's view
Nabil, MD, Gemma National Enterprises, suggests using your emotional intelligence to gain an understanding of where your boss is coming from:
Rapport with your boss is very important. Understanding her acceptance strategy, and whether she is a detail or a big picture person, will help you in delivering and gaining acceptance for your plan.
4. Reevaluate your planning
Barry Dennis, President of Netweb/Omni, LLC, encourages you to take an objective look at your plan:
“Take a step back,” and revisit all that you have outlined; if you no longer have the same enthusiasm for a project or tactic, then take it out.
Adrian Woodliffe, director of Genisis, suggests that you look to your customer's insights for support of your plan:
It might be time to do an audit and some research. Back up your strategies with sound logic, rationale and market intelligence that is hard to argue against. You don't even have to employ a research house to do this... primary and secondary research and audits can be done on the smell of an oily rag and still be effective.
Your customers can be very powerful in delivering a message. Let them reinforce your spending plan. They may point you in the direction of some alternative thinking regarding initiatives.
Great approach as always, SWOT Team—thanks again!
We did our best to provide a thorough overview of your responses to this timely topic. All of the advice we received was insightful. Thanks for your participation. We appreciate it!
