Faster Future: Possibilities now and beyond: jamie burke

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Wednesday, April 15, 2015

Trust has greatest value where choice is highest and price sensitivity lowest

Trust - the output of the 10 Principles of Open Business - is essential for success in today's open economy.
But we should note that its value varies across market segments. Trust will attract the right staff, keep the organisation honest and true to its beliefs and inspire people to perform at their best. But its impact on consumer action varies depending on choice/ease of switching and price sensitivity.
This may explain why even when we lose trust in something we don't always stop using it.
The graph included here illustrates my plotting of some market segments and institutions which shows us which should put the greatest efforts into building trust for the purpose of impacting consumer behaviour.

Where it's very difficult to switch (ie your daily commute by train) trust has some value but building it won't encourage more commuters to use a rail company. They just may feel a little better about the next price hike, a little safer while on board.
While there is no option when it comes to your police service you could argue there is little requirement to build trust to change user behaviour (though trusting the service does of course encourage people to be more open with it, even if we can't go and share our intel with an alternative organisation).
The key area for trust as an investment in behavioural change seems to be where both the cost of both switching and the price sensitivity is low (the top right quadrant).
Here we find the banks, the media, transport. Most retail vendors would fall here. Topically - politically parties appear a standout. Trust should be everything to them.
My positioning of supermarkets on this grid may explain why - despite the repeated crises of trust in our supermarket giants (even Open Business advocates Tesco) - there hasn't been a mass exodus of customers. Tesco's market share is down less than 2% year on year according to Kantar (Oct 2014). But that's based on spend, not numbers of customers. Customers are less likely to have left Tesco for Aldi or Lidl over issues of trust than they are over issues of price. They have added an Aldi run to their routine Tesco buys, not abandoned it completely.
These positions aren't fixed. IF through Open Business or other investment in building trust (and blockchain is being advocated as one such tool by The 10 Principles Co-author Jamie Burke) organisations can make trust a competitive advantage they can become more resistant to start-ups and new-comers who do not have a trust bank already established.

Thursday, February 27, 2014

10 Principles of Open Business launches in London

Last night I was delighted to host a gathering of friends, supporters and influencers, most of whom had been involved one way or another in shaping the output of my last seven years of work - a book.

The 10 Principles of Open Business is the result of a great deal of collaboration, of shared thinking, of wise counsel and challenge. But it struck me that while I knew all of the people involved in my journey, few knew each other.

Yes I wanted to celebrate the launch of a book, and yes it was great that we even sold some copies at the event, but the most important thing for me was that those who came got to meet each other and spend some time talking to each other.

I hope everyone gained from it. I'd like to thank the folk at Grey London and colleagues at The Social Partners for providing the venue - and everyone who showed up, naturally.

The pics above are from Stephen Waddington's instagram. I'll try to gather up a few more to add as I come across them or they get shared directly with me.

Thursday, July 19, 2012

The 10 Principles of Open Business

10 Principles of Open Business - 9010 group from 90:10 Group

Regular readers know my day job at 90:10 Group focuses on delivering Open Business. After 3 years of doing so with large organisations across EMEA, co-founder Jamie Burke and I have concluded there are 10 Principles of Open Business.

An Open Business is one which uses its available resources to discover people who care about the same Purpose it does, brings those people together and joins with them to achieve that Purpose.
It is designed from the outset to scale through participation. It makes partners of customers.

Over the next few weeks we'll build on this to define the 10 Principles of Open Business and share case studies demonstrating the success of each Principle in practice. We’ll set a ‘Goal State’ as the ideal outcome and describe the ‘Worst Case’ position – to enable you to benchmark your organisation’s progress towards each Goal States.

To read the first post in the series visit 9010Group.com.

Monday, March 01, 2010

Time to end the failed experiment of advertising

As promised, here's the slidedeck Jamie Burke and I presented in Madrid last week. By way of disclosure we were in Madrid for the official launch of 90:10 Spain - and took the opportunity to present our thinking at the OMEXPO.

The slides ask the question, if advertising didn't exist today, would you reinvent it? We think too much digital tech, innovation and effort has been focused on making a better message when what is better for all parties is that we should work together on making better things.Platform thinking that delivers value innovation.

It's time time to end the insanity of repeating the failed experiment of advertising. Time to start creating platforms for change.

Video will follow later this week...

The Death Of Advertising: Omexpo Madrid 2010

View more presentations from david cushman.

Wednesday, May 20, 2009

Your duty is to challenge your client - to save their asses

Love this post from colleague Jamie Burke (disclosure, Jamie's my boss).

It's born of his discoveries on his own journey to the networked world, from his own heartfelt and passionate beliefs - and from a real sense of what is wrong with what he encounters.

Righteous and right.

I don't oftern quote big chunks, but on this occasion...

-Branding exercises, no matter how much money you throw at them can’t hide that what you say you believe in and what you do don’t marry.

-The only awards worth winning are sales. Clever creative advertising just makes people talk about how clever the ad was and how great your ad agency is and not your product. Just because it’s a clever ‘viral’ ad where people were the channel you broadcast through doesn’t mean the same does not apply.

-Agencies that fail to enforce the required changes on their clients thinking just to protect old margins or be safe in meeting old KPI’s should also be held to account. As a purest it is my duty to show up these failings. If you are wasting 99.96% of your client’s budget you should not have a job. A conversion rate of 0.04% is literally just that. If you need you client to spend millions on getting people to engage with your mechanic they are paying for your incompetencies.

-Client: If your agency isn’t challenging you on a daily basis with these different rules you need to find a new one. The world is changing dramatically why aren’t your KPIs.

-If advertising bridges the gap between supply and demand. What happens when there is no gap?

-When you are left only with your naked product. What happens if it’s not the best one?

-Why isn’t it the best one when social media offers the market research nirvana of non-interruptive voyeurism? Listen.

-If you have to spend millions on trying to convince the consumer its what they need it obviously isn’t.

_____________________________________________________________________

-Don’t be so afraid of being seen to be real people? I can trust a fallible person far more than an apparently infallible one. Even if they were infallible how could I, a fallible one, ever connect with them? People buy people.

-Closed models of any sort won’t save you. The only restrictions and limitations you are imposing are on your own business.

-The only way most shareholders will realise this is when all that they possess has been stripped of any or all value.

-Marketing in social media is only just a bit better than marketing any where else because marketing treats things as ‘channels’.

-Business leaders that neglect the opportunities that the network presents to their company should be held responsible for gross misconduct. Even if their limited view of it is as a market condition they still failed to account for it.

The only thing I'd add to his list is Generosity: Before you can take, you have to give.
Go give him your support or shoot him down in flames here.

Tuesday, March 10, 2009

Introducing Brando Social Consult

Brando Social's Winning with Social Media event (at the Soho Hotel on Feb 26) was aimed at informing and exciting people about the revolution that is the peer-to-peer power of the network.
And we hope we did a good job of that. (yes folks, I do work for Brando Social!)
If you weren't there - you can download/watch/share any of the useful bits and pieces including:]

What is social media? (whitepaper)
Adapting brands to the networked world (video and slides)
What was wrong with interruption (Video and slides)
ROI in social media (Video and slides)
Unleashing your people's potential through social media (video and slides)
Stories of success (video and slides)

Welcome your thoughts and feedback as always.

MD Jamie Burke wrapped the morning up by introducing Brando Social Consult - our team of social media consultants with deep experience and a wide range of specialities - and telling those assembled about other services Brando Social offers. Watch the video and see the slides below.

Jamie Burke "Introduction to Brando Social Consult" from Brando Social on Vimeo.

Here's the slides that went with Jamie's session.

Introduction to Brando Social Consult

View more presentations from BrandoSocial. (tags: consult social)

Tuesday, March 03, 2009

What is Social Media? How can brands and organisations adapt to it?

Pleased to say we are now able to share video and slidedecks from BrandoSocial's Winning With Social Media event.
I'm going to add them to my blog over the next few days, in the order we appeared.
Up first, me, defining what social media is, defining the size of the prize and the urgency and inevitability of involvement - and how brands and organisations can adapt to our ever-more networked world.

David Cushman - "Setting the social media scene & Adapting brands to the networked world" from Brando Social on Vimeo.

Here's the slidedeck I was speaking to: (UPDATE March 4, Slideshare chose this presentation to feature on its homepage on March 3/4, 2009).

Setting the social media scene & Adapting brands to the networked world

View more presentations from BrandoSocial.

I'll be adding the videos and presentations by Alan Moore, Chris Thorpe, Luke Brynley-Jones and Jamie Burke over the next few days.

Thursday, February 26, 2009

Winning with social media

Breathing a sigh of relief after the BrandoSocial 'Winning with Social Media' event at the Soho Hotel in central London this morning.
We've been getting some great feedback via twitter already:

FoluB: Good talk from @davidcushman at the #Brandosocial seminar. He and Alan Moore talked a lot of sense

farhan: just finished a great morning listening to some social media greats including @davidcushman, and co from @brandosocial

badgergravling: @davidcushman Interesting event and will be in touch shortly...

about 1 hour ago from web

tshelton: @davidcushman thanks for letting me come! fun to see your terrific team in action and spreading the word that social media is inevitable

msamayoa: Enjoying a truly inspired state of mind after Brando Social's event! Lots to process and then share. More soon... Me = :D!!!

madejadomuelta: I have attended this morning to the Brando Social event. It was just brilliant. Congratulations!!

All this - and I got to see Mr T from the A-team when we went down to check out to do a technical run-thru the day before :-)

Seriously, big thanks to my fellow speakers Luke Brynley-Jones, Alan Moore, Chris Thorpe and Jamie Burke. And to Dominic Campbell who joined in for the panel at the end. You rocked guys. Find out more about all of them and their services here.

For those who couldn't be there, we're going to add video of the whole thing to the BrandoSocial website in the next couple of days.

Attendees also got a nice glossy copy of our white paper 'What Is Social Media'. You can get a downloadable version free here.

Just for the sake of clarity, BrandoSocial is a full service social media agency where I'm Director of Social Media.

I'm now looking forward to speaking to MA students on the online publishing course at Leicester De Montford Uni tomorrow morning. If any of you have any questions you'd like me to think about in advance, drop me an email?

Wednesday, October 08, 2008

Music 2.0: The quick hit mix

Regular FasterFuture visitor and contributor Jamie Burke has just had his Music2.0 slidedeck featured on the homepage of Slideshare.
It's a pretty cool fast-track through the shifting sands of music and its value chain.
Take a look below:

Music 2.0

View SlideShare presentation or Upload your own. (tags: music 2.0)