Euler-3 on Philip Sheldrake

The meaning of business

Sat, 30 Jul 2016 00:00:00 +0000

Why do firms exist? Strangely, no-one appears to have asked this question until a 27 year-old economist did so in 1937.

Ronald Coase published his answer in The Nature of the Firm, now considered a seminal text. He studied the circumstances that led entrepreneurs to hire people as employees instead of simply contracting jobs out to traders and came up with the answer we now simply refer to as transaction costs. People are hired when the various associated costs are lower than they would be otherwise.

Social media are the eggs in the social business cake

Mon, 10 Sep 2012 00:00:00 +0000

A thrill of working in a fast changing market is the opportunity to innovate. A burden of working in a fast changing market is the need to bend existing language to new concepts. And of course, evoking existing language evokes existing meaning … both an advantage and disadvantage.

So, we’ve been working with social media for the past decade; as if all preceding media was anti-social. And during the past couple of years, we’ve been tasking our tongue to the topic of social business; as if business previously attracted loners.

Influence Crowd becomes Euler Partners

Mon, 03 Sep 2012 00:00:00 +0000

When George W. Bush was inaugurated for his second term in January 2005, no one uploaded a video to YouTube.

When Italy beat France to win the 2006 FIFA World Cup final, fans didn’t Tweet. Not once. No one in Europe mentioned it on Facebook. No one captured Fabio Grosso scoring the winner on an iPhone. No one jumped on Gmail to commiserate with French friends. No one used BBM (BlackBerry Messenger) to celebrate with Italian friends.

Social media have progressed incredibly quickly and organizations have had to grapple with the challenges and identify and pursue the opportunities.

But things began to get serious during 2009 as it became increasingly apparent that social web and related technologies could transform the way organizations go about their business beyond the domains of marketing, public relations and customer service. It might even redefine what it means to be in business. And that’s when we founded the consultancy Influence Crowd.

By September 2011, when I had the opportunity to address the executive summit at Dreamforce (the annual Salesforce.com conference), this radical landscape had been labelled with a distinct call to action – socialize the enterprise .

Influence - the use and abuse of the word in social media

Fri, 15 Jun 2012 00:00:00 +0000

http://www.slideshare.net/Sheldrake/amec-2012-dublin-european-summit

View more presentations from Philip Sheldrake

The AMEC European Summit is taking place this week in Dublin. It’s a really vibrant event, a credit to AMEC’s Barry Leggetter and the delegates’ enthusiasm. (Actually, perhaps it’s a little less vibrant this morning after the visit last night to the Guiness brewery!)

I’m here representing the CIPR in a couple of sessions, and this morning I’m speaking in my own capacity… my slidestack is embedded above.

Q&A with Influencer Marketing Review

Wed, 06 Jun 2012 00:00:00 +0000

[Originally published by Influencer Marketing Review .]

This is the third installment of our ‘Q&A with the Review’ series in which we talk with prominent members of the influencer marketing community about their work and thoughts on the industry. Amanda Maksymiw and Duncan Brown helped us get the series started, and now we’re grateful that Philip Sheldrake, author of The Business of Influence_, is joining us for our third Q&A._

IMR: Thanks so much for joining us, Philip. And congratulations on the book. We know that’s no easy feat.

****Philip: Thanks for the invitation to chat here. And thanks for having my book cover on IMR’s homepage :-)

IMR: Oh yeah. It’s probably about time we change the image, huh.

You’ve stated in the book and elsewhere that “the business of influence is broken.” What do you mean by that exactly? Some might think there wasn’t much of a “business of influence” in the first place.

Philip: A definition of influence: you have been influenced when you do something you wouldn’t otherwise have done, or think something you wouldn’t otherwise have thought. There’s influence in everything an organization does, and sometimes in what it doesn’t do, and yet despite this we often apportion responsibility for influence to marketing and PR departments. The 2012 organization looks incredibly similar to the 1992 organization, which is crazy when you consider the impact of social media and related information technologies.

The Business of Influence for REALLY BIG Digital Impact

Mon, 02 Apr 2012 00:00:00 +0000

Here’s my slidestack for PRSA Digital Impact Conference (#PRSADiConf) today.

I hope it goes without saying that I’m happy to answer any questions this stack or my presentation today may raise, or just have a chat in general. Always my pleasure. My contact details are always easy to find on philipsheldrake.com.

Thanks of course to the PRSA team for the opportunity.

PRSA Digital Impact Conference April 2012

The complexity of influence is a challenge – and an opportunity

Sat, 18 Feb 2012 00:00:00 +0000

[Originally written for The Guardian Media Network .]

If media is interesting because it facilitates communication, whether that communication is mediated or disintermediated, then communication is most interesting when it facilitates influence.

You have been influenced when you think something you wouldn’t otherwise have thought, or do something you wouldn’t otherwise have done. Simple as, although you wouldn’t think it now that influence is the hot word.

The capacity to change hearts, minds and deeds is considered the mark of the great communicator, the compelling personality, the charismatic politician, and ultimately no one wants to communicate without influence; that wouldn’t be a good use of the communicator’s time and energy, or indeed that of those on the receiving end.

The focus on making sure you’re influenced back is vital too. Individuals (and organisations) that best absorb the zeitgeist are heuristically more able to respond in ways their audiences (stakeholders) might well appreciate.

Influence is complex, and I mean that in the full “complexity science” sense of the word. Complexity is the phenomena that emerge from a collection of interacting objects. The interacting objects could be molecules of air and the phenomenon the weather. It could be vehicles and the phenomenon the traffic.

The Influence View of Content – seeking something more useful than 'paid, owned, earned'

Mon, 14 Nov 2011 00:00:00 +0000

[Version 0.1 « work in progress needing your critical feedback. Also available as a PDF if that suits you better.]

Précis

Categorising media as Paid, Owned and Earned isn’t particularly useful. In fact, it simply appears to reinforce increasingly irrelevant functional silos.

The Influence View of Content aims to establish something more useful. It’s a perspective that seeks to help influence professionals think about how influence goes around and comes around in line with the Influence Scorecard framework .

Definition: Influence – you have been influenced when you think something you wouldn’t otherwise have thought or do something you wouldn’t otherwise have done.

Definition: The Influence Scorecard – serves as both the methodology for defining influence strategy and the tool for executing it.

Paid Owned Earned

With the proliferation of what used to be known as “new media”, it was natural to attempt some sort of descriptive taxonomy:

The UK takes a step closer to Streams Banks – your personal data nirvana

Sun, 06 Nov 2011 00:00:00 +0000

A year ago, to the week, I was writing Chapter 8 of The Business of Influence about the future trends each and every influence professional would have to grasp. In particular, I wrote:

I consider the data and information I create directly or indirectly through my use of products and services to be private and mine by default. I may choose to make any part of it accessible to specified others and maintain my ownership, or relinquish some ownership rights, or all rights.

Should I consider entering a contract with the purchase of a product or service that entails some variation to this default – perhaps simply because delivery of the product or service is meaningless without such variation – the nature of this variation must be made explicitly clear to me in plain language, and it is then my choice whether or not to agree to those terms, which may entail my negotiating different terms or choosing not to buy that specific product or service.

To me, a future where so much data is collected about me and owned by others is nothing short of dystopia. Of course, the situation I describe above is far from where we find ourselves today and I make the case that influence professionals should be helping to lead the charge toward empowering the customer – past, present and future. As such, the chapter continues to lay out a potential privacy framework, introducing Streams Banks:

It’s the moniker I’ve given the service with the primary purpose of collecting all your digital detritus, all your so-called life streams of data, in one place on your behalf and giving you the power to analyse and visualize it all.

A streams bank archives the minutiae of your life, if you so wish. The service may offer suggestions or advice in decision-making, and perhaps it may even be relied upon to make certain decisions for you autonomously.

What on Earth could catalyse this transformation?..

Imagine that you’re a mobile telephone network operator. Right now, you own the data describing the customer’s use of your network. What competitive advantage might be had by reversing that situation, by transferring ownership to the customer – on the condition of service of course that you can have access to their data in order to determine billing and associated aspects of your service provision? And what if you gave the customer the tools to learn about her data, to download it and share it with whomever she wished. What might she learn about herself and her family? How might this data be mashed up? How much easier would it be to source the perfect tariff for the next year given the opportunity to share last year’s data? If you think that sounds bad for business you’re effectively saying that opacity is good. History has shown that walled gardens and other protective practices eventually crumble in competitive telephony markets.

Well, it seems this day is dawning.

Influence: Socializing the Enterprise – my presentation at Dreamforce 2011

Thu, 01 Sep 2011 00:00:00 +0000

Salesforce.com’s CEO Marc Benioff is excited that there are 45,000 delegates registed for this week’s Dreamforce conference in San Francisco. It sure is one helluva a show (and I particularly appreciated the Metallica and Will.i.am gig last night!)

The theme for this year’s conference is the socialization of the enterprise and the reason for my invitation to present to the Executive Summit yesterday and delegates at large today. [Disclosure: Salesforce.com is paying me to be here.]

Dreamforce 2011 presentation – Sheldrake

View more presentations from Philip Sheldrake

There can be no doubt that Salesforce.com is on a mission to help its customers make the social transition with as much emphasis placed on increasing the social exchange with employees and partners as customers and prospects, and this mission entailed the acquisition of Radian6 earlier this year.

When I spoke at the Radian6 Social2011 conference in April, I felt the excitement at the opportunity to meld the Radian6 and Salesforce.com worlds, but I hadn’t appreciated how fast this integration would take place. Simply gobsmacking.

How data is transforming digital marketing

Wed, 29 Jun 2011 00:00:00 +0000

Digital marketing has come a long way in the past decade, as we’ve moved beyond putting existing materials online and learned how to really harness the native advantages of digital technologies.

The pace of change continues unabated, and among its most important drivers is data – and the meaning of that data.

Every one of us is going to be producing more data describing our use of digital products and services. This is what I like to call digital detritus. Detritus – discarded organic matter which is decomposed by microorganisms and reappropriated by animal and plant life – is interestingly analogous to our regard for, and treatment of, the data that we’re all shedding.

Big data

When it comes to the increase in data, we’re working on a logarithmic scale: we’re talking about hundreds and thousands of times more. Data in such quantities may well prove to have important new mathematical properties that are attractive to marketers, customer service and product development teams. Moreover, we don’t actually do much with the digital detritus today – it mostly resides in inaccessible log files, although the technology for collating it is becoming increasingly achievable and affordable.

What does this mean in everyday terms?

Profiting from the New Web – the video

Tue, 28 Jun 2011 00:00:00 +0000

I posted about the Profiting from the New Web conference last month, and now the video summary of the day has been published. It was a real pleasure to chair the event and have the opportunity to provide some commentary in the video too.

Thanks to everyone who took the time to get in touch after the conference. I’m sure, given the overwhelming positive sentiment, that we’ll be making this conference into a series. Watch this space.

The Web this decade and what it means for your organisation

Wed, 25 May 2011 00:00:00 +0000

I’m a fortunate geek. I got to chair the 6UK launch back in November, with keynote by Vint Cerf – fondly referred to as one of the fathers of the Internet. And on Monday this week, I chaired Profiting From The New Web at the Royal Society with keynote by Sir Tim Berners-Lee – inventor of the World Wide Web. How cool is that?!

[caption id=“attachment_28121” align=“alignnone” width=“300” caption=“Sir Tim Berners-Lee, New Web, London, 23rd May 2011 (courtesy Intellect)”] [/caption]

I worked with the Web Science Trust and Intellect to design this week’s conference, and we set ourselves this mission:

Discover new and better ways to do business, run our countries, and lead fulfilling and sustainable lives via the intelligent, innovative and diligent development of the New Web, and to make progress faster than otherwise.

Web Innovation

The term Web 1.0 is applied retrospectively to a Web of documents and ecommerce. The term Web 2.0 has come to describe social community and user-generated content. The New Web – the Web of Data or the Semantic Web, and sometimes Web 3.0 – entails the Web itself understanding the meaning of that participation and content.

A component of the Web of Data, known as Open Data , encompasses the idea of freeing data so that others may query it, check and challenge it, augment it, and mash it up with other sources. Sir Tim is particularly motivated by this vision given its potential to drive scientific breakthrough, enhance delivery of public services and open up new frontiers for competitive advantage.

Neville Hobson's interview with me at the book launch party

Fri, 22 Apr 2011 00:00:00 +0000

A big thank you to everyone who joined me last night in central London for the launch party for The Business of Influence . And for those who were still around between midnight and 2am, I can only say that I rarely get the opportunity to cut those dance moves these days; so apologies.

Special thanks to the legendary Neville Hobson (@jangles ) for taking the time to record a chat with me. For those who haven’t yet had the pleasure, Neville is a co-host of the FIR (For Immediate Release) podcast amongst many other things .

My book, The Business of Influence, is out today

Fri, 15 Apr 2011 00:00:00 +0000

Today’s the day!

It’s ready for delivery in the UK today, and pre-order in other parts of the world. For those of you tweeting about availability in the US, currently listed as mid-June by some bookstores, Wiley tells me it should actually be with you mid-May. Thank you for your interest and patience.

What’s it about?

The Business of Influence is a rethink.

It’s about improving the capabilities of organisations to design and attend to the way in which all aspects of its operations influence stakeholders, about making sure stakeholders influence it, systematically, and about how well competitors are attempting the same. It focuses on influence as the common denominator of marketing and public relations and related activities such as customer service, sales, product development and HR, and therefore the basis for redesigning these and interconnecting them.

The book introduces the Influence Scorecard, named in homage to the dominant framework for business performance management, the Balanced Scorecard. The Influence Scorecard then is a subset or view of the Balanced Scorecard containing all the influence-related key performance indicators (KPIs) stripped of functional silo, and it may extend beyond the Balanced Scorecard should a greater operational granularity of metrics be demanded by the influence strategy.

The Influence Scorecard is a new framework for the 21st-century designed to help organisations focus on what matters rather than continue to carry the baggage and inefficiencies that come part and parcel of the typical 20th-century marketing and PR structure and approach. It’s a reframing in the context of 21st-century media and disintermediation, 21st-century technology, and 21st-century articulation of and appreciation for business strategy.

Social analytics on CIPR TV – with Connie Bensen, Emily Dent and Marcel LeBrun

Tue, 12 Apr 2011 00:00:00 +0000

Regular readers know that social analytics is a subject close to my heart. And would you believe it, my ebook on the matter, The Social Web Analytics eBook 2008, still gets downloaded a thousand times a month. I also made sure to include a section on social analytics in my book of course (out this month in the UK and shortly in the US), listing twelve primary characteristics of the services to assist in your organisation’s tool selection and procurement.

Radian6 and the Insights Platform – getting semantic

Thu, 07 Apr 2011 00:00:00 +0000

I’m in Boston this week for the Radian6 Social 2011 Conference. (Disclosure: Radian6 is paying my expenses to be here.) So far I’ve enjoyed talking with Radian6 CMO David Alston, OpenAmplify CEO Mark Redgrave, Edelman’s David Armano, Dell’s Head of Interactive Marketing Adam Brown, Klout Head of Platform Matthew Thomson, Marshall Sponder and Nathan Gilliatt.

Radian6 CEO Marcel LeBrun has kicked off the event this morning by launching the new Insights Platform , and I appreciate why Marcel is so enthusiastic about it.

Here’s how Radian6 describes it:

Insights are answers. Insights give meaning to unstructured volumes of content based your needs and integrated into our current dashboard offering. Current partners include Klout , OpenAmplify and OpenCalais . The insights that each of these partners offer (like age range, location, influencer score, textual analysis) are added as drill down options on the Dashboard widgets, so you are able to take your Radian6 topic profile mentions and overlay the insight partner data all in one place. No exporting River of News and doing comparative analysis in Excel to these providers data from your separate account, now it’s all been brought together for you.

How does it work? Well Radian6 has leaned heavily on the three partners, with both OpenAmplify and OpenCalais having deep expertise in semantic technologies. This is the tech that helps interpret, understand and process the meaning of content. Serious stuff.

What's the ROI of social media?

Thu, 17 Mar 2011 00:00:00 +0000

I was delighted to have the opportunity to present my take on the ROI of social media to approximately 80 people yesterday evening at the Digital Publishing Forum . It seems this was a hot topic of interest; as well it should be.

I sought to put the topic into perspective with the following challenge. What’s the ROI?…

Of the latest rebrand?
Of the office refurb?
Of the internal communications activity?
Of the training and development programme?
Of the upgrade to Windows 7?
Of the new standard issue smartphones?
Of the stakeholder engagement via social media?

If you’d like to see where we went from there, here’s the presentation:

Influence in the age of the social web – keynote to EUPRERA

Fri, 04 Mar 2011 00:00:00 +0000

It’s a beautiful sunny Spring day here at the EUPRERA Spring Symposium in Lisbon. It’s my first time at this gathering of the European Public Relations Education and Research Association – the forum for innovative PR research and education – and I’m delighted to have been invited to deliver the keynote.

Thanks to Philip Young and David Phillips for the invitation. Here’s the slidestack. I was a bit surprised to get a slide count of 77, but 16 of the slides present the infographic ‘Content – An illustrated history ’, which is easy to breeze through :-)

Real-time PR demands rigorous strategic alignment

Mon, 28 Feb 2011 00:00:00 +0000

Real-time PR is a hot topic.

This is nothing to do with fashion, but the unavoidable pressures of modern PR. David Meerman Scott’s November 2010 book, “Real-time Marketing and PR ” is already a Wall Street Journal bestseller, and with Twitter responses frequently meaningless after an hour’s delay, if not minutes, and many conversations requiring a response within the hour or two, awaiting the Monday meeting to debate possible responses is now simply unrealistic.