strategy Archives - Philip Sheldrake

18 March 2011 / 2 Comments

Money

Let's talk about money.

Michael Porter describes strategy as defining and attending to those activities at which an organisation must excel in order to create a sustainable difference in the marketplace, and thereby create sustained value for its shareholders (or sustainable value in the case of non-profits).

Once you've articulated why your organisation exists (the mission), and what you want it to be (the vision), the strategy describes the what, who, how, when and where needed to pursue the vision, and specifically how these differ from the competition. How these help beat your competition.

However, as hard as strategy formulation is, the really hard part is putting it into action. The Balanced Scorecard Institute finds that 70% of organisations with a strategy simply fail to execute it. And this becomes the more obvious the further away from the sale / the product / the service you get; the more you get into the intangible assets pivotal to your success.

Marketing and PR are intangible assets. They are intangible investments. We all know that the right mix of the panoply of marketing and PR activities is essential to organisational success – to the successful definition of organisational strategy and its execution – but too often we're not quite sure how so. This is most apparent when, particularly in harder times, marketing and PR are considered cost centres first and foremost, and cost centres that can be cut. Read more

7 January 2011 / 2 Comments

The 2011 Plan

Let's talk strategy.

Without thorough strategy, one is resigned to contribute nothing to living up to your organisation's mission and pursuing its vision. Thoroughly resigned. And the turn of the year is an apt time to take the strategic long view.

But let's begin with the shortest view. David Meerman Scott's latest book 'Real-time Marketing and PR' (book review) emphasises that being attuned to the second by second deliberations, assertions and flippancy of the social Web is nothing short of imperative for many organisations. Nevertheless, he also points out that we need our approach to be informed by the organisation's over-arching needs and guided by sound and consistent policy.

The title of a post by Brian Solis this week articulates the challenge succinctly, "failing to plan is planning to fail" and Vanessa DiMauro also calls for proper diligence in her post, "not so fast!"

So how do you know if you're doing OK, or going hand to mouth? Why do too many of the leaders I work with consider they have this licked and yet discover otherwise?

Here's an acid test. Grab a handful of colleagues in your marketing and PR teams this afternoon for fifteen minutes and ask the following four questions: Read more

14 April 2009 / 0 Comments

There is no such thing as a Twitter Strategy – supporting perspective in Ad Age post

A few days after I posted the succinctly titled "There is no such thing as a Twitter Strategy but you should have clear expectations for your corporate Twitter profile", B.L. Ochman posted "Top 10 Reasons Your Company Probably Shouldn't Tweet" on the Ad Age DigitalNext blog.

Right up there at number 1:

You think using Twitter is a social-media strategy. It's a tactic, a tool, not a strategy.

Now my post elicited some responses via Twitter (@sheldrake) questioning my definition of the word "strategy". So for clarity... your social Web strategy is the long-term "how" that follows the "what" of your social Web objectives.

I also agree with number 2 on the Ad Age post... if "every tweet has to be approved by legal" then your organisation is not ready for the social Web let alone little old Twitter. (I'd also argue that your business most likely isn't ready to do business in 2009!) Read more

3 April 2009 / 2 Comments

There is no such thing as a Twitter Strategy but you should have clear expectations for your corporate Twitter profile

I'm amazed at the frequency with which I come across people discussing their Twitter Strategy, or their Facebook Strategy. Contrast this with offline terminology... we never talk about a Press Release Strategy or a Features Tracking Strategy.

Twitter and Facebook et al are one of many channels or platforms through which we wish to engage stakeholders in conversation. The strategy, then, is the plan we set ourselves for our use of social media to achieve our business objectives.

The strategy is constructed to meet our objectives and is informed by deep insight into best practice application of social media.

The strategy sets out the framework for our current and future adoption of social Web channels, platforms, services and gizmos. It helps us work out which of these to adopt and how they might work together. It describes the over-arching ethos and policies for social media use, organisation-wide, and clearly articulates how success is to be gauged, month in and month out.

There is no such thing as Twitter Strategy, and if you think there is then you are Twittering for Twitter's sake and not for business success. Read more