Marketing Enters the Echoverse

In the 21st century, savvy business owners and leaders must be aware of developing trends and determine which behave like a passing fad and which seem capable of delivering value that make it worthwhile to get on board. One such trend— that looks more like an inflection point than a trend—was documented in 2016 by researchers from the University of Maryland Robert H. Smith School of Business, the University of Tennessee and the University of New Zealand and it’s a must-do. It’s been impacting your business for five years or more, but you may not have figured out the big picture and didn’t know that it has a name.

Introducing the echoverse, a communications phenomenon that describes where digital communication is now and will be for the yet-to-be-determined future. The echoverse was born of cross-channel marketing messages that are initiated by brands, customers, influencers, media outlets, investors and anyone else with a keyboard and bounce and reverberate in feedback loops. These simultaneously independent and co-dependent parties continually add their responses to posted content, chattering on as they follow and listen to each other across all available digital platforms. The outcome of the call and response is the echoverse, a communications environment that enables content to circulate, amplify, morph and echo.

Understanding the echoverse

As you continue adjusting to early 21st century marketing communication practices, keep in mind that the echoverse is controlled by a hyperconnected, 24/7 environment that’s touched by many players—brands, customers, media, AI-powered artificial agents—who contribute to and echo each other’s messages, as summarized below:

  • Communication is omnidirectional. Messages flow in all directions, they may originate from any source and they are subject to reinterpretation through interaction with multiple participants.
  • Influence is communal. Traditional roles of message sender and receiver are waning. Any interested party may initiate conversations and modify, contradict, or reinforce whatever messages are sent in response. Every participant is both a creator and a consumer of content and empowered to impact, contradict, or verify fellow participants.
  • Messages evolve. Messages are impacted, influenced, or amplified by feedback loops and participants whose participation is continually and simultaneously changing.
  • Value creation is shared. What is considered valuable is not necessarily created by a single, all-powerful taste-making source. What’s accepted as worthwhile is co-created and co-owned by all participants, with each one adding unique context, interpretation and/or resources.

Marketing in the echoverse

In traditional marketing communication, the brand drove the bus—defined marketing goals, created all content and chose how messages were sent to customers and prospects. Echoverse marketing has introduced a new playbook. The influence once held by brands has diminished because that entity is now just one agent in a cast of characters who develop and disseminate their own spin as they follow, listen and act upon the official brand messages. Meaning, successful navigation of the echoverse requires brands to pivot from leading to guiding, persuading and encouraging self-appointed and vocal stakeholders through (ideally) well thought-out and presented opportunities to contribute to a process of value co-creation and strategies for promotional communications.

  • Echoverse marketing for Freelancers and SMB

No doubt you understand that both challenges and opportunities are associated with the echoverse. To develop effective and responsive marketing strategies and tactics, marketing managers in companies of every size must embrace its omnidirectional, feedback loop reverberations and prepare for the possible influence of self-appointed stakeholders who thrive in the echoverse.

Like their counterparts in enterprise companies, Freelancers and SMB owners must adopt big-picture thinking and manage all marketing communication channels as an integrated, holistic, interdependent system—a compartmentalized, silo approach will not achieve goals. A cohesive strategy that considers the interactions between various media is essential—an integration of traditional media outlets, social media, your company website, email marketing and other brand promotional activities to create a unified brand message that is consistent and compelling at every touch point.

  • Proactive Customer Engagement

Social media is ideal for allowing brands to engage with customers and curious prospects in a personal and immediate manner. Engaging with customers on social media allows you to hear and quickly respond to compliments, comments, suggestions and complaints. It is the best defense against negative talk that may be expressed by competitors and haters whose agenda is to attack and subject your brand to reverberating echoverse slander.  Brands should focus on consistent, authentic communication that addresses customer concerns and other feedback promptly and effectively.

  • Leveraging Predictive Analytics

If you can budget the expense, investing in social media listening can provide valuable insights into emerging trends and potential problem (or helpful) issues or developments. Being proactive enables brands to anticipate and respond to changes in customer priorities, preferences, or concerns before things get ugly. Tools that analyze data generated by various platforms can help brands identify patterns and adjust their marketing /branding strategies accordingly.

  • Utilizing AI and Internet Technologies

AI tools and other internet based technologies are transforming marketing communications within our complex, interactive communication landscape. In this environment, a diverse network of human and nonhuman participants—including customers, brands, AI agents, traditional and digital media outlets and platforms—continually interact, influence and reshape messages across platforms. Traditional one-way and two-way communication models have given way to omnidirectional communication for the foreseeable future.

Thanks for reading,

Kim

Image: © Swiss Yodeling Association. Alpshorn players create echoes in the Swiss Alps.

Reinvent and Rescue Your Failing Business

Those of you who follow astrology know that the planet Mercury is currently in retrograde meaning, as a result of an optical illusion, the planet appears to be moving backward in its orbit. Mercury began to retrograde on August 5 and the phase ends on August 28. The third and final Mercury retrograde of the year will occur November 25-December 15 (the first retrograde Mercury of 2024 was April 1- 25). All nine planets can appear to retrograde and it is said that when they do, the effect can scramble our best laid plans. For example, signing contracts is said to be ill-advised during retrograde Mercury (and also during retrograde Venus, Mars, or Jupiter). However, there is an upside associated with the downside of retrograde Mercury—you may be able to rectify what went off the rails.

Astrologers claim that Mercury is the planet most closely associated with business activities. You would never launch a business during retrograde Mercury (or retrograde Venus, Mars, or Jupiter), when the planet seems to be orbiting backward, because the venture would almost certainly fail—you want forward movement to get things rolling. Instead, astrologers advise you to use retrograde Mercury to figure out whether a failing enterprise can (or should) be rescued and is worth the effort and money needed for the resurrection.

The prefix re– conveys the spirit of retrograde and signals that it’s time to pause and reflect on what has transpired and anticipate how the outcomes might influence next steps. The ancient practice of astrology recommends using retrograde Mercury to revisit, reconsider, repair, recuperate, or reimagine what appears to be broken but, with careful reassessment and cost-effective reengineering, can be successfully rebuilt.

Oh, why not? Do not allow the heartbreak and frustration you feel as your dream of entrepreneurship crumbles convince you to abandon ship too soon. You owe it to yourself to discover what might respond to a well-executed pivot and put the remedy in motion.

Review what went wrong

Conduct a thorough post-mortem to reveal which factors caused the failure. Was it the product or service offered, or were you too far ahead of a developing trend? Did you overestimate the size of your target market, or become too optimistic about demand for your offering? Were there operational problems that, e.g., interfered with product manufacturing or delivery, or was cash-flow the problem?

A comprehensive review of financial statements, sales data and customer feedback will help you recognize the glitches. With an accurate diagnosis of what has not been working, you can redirect your focus and develop a reinvention strategy.

Rethink the business model

A business model describes how the venture will make money—methods the company will use to sell the product or service to customers and how the business will drive sales, for instance. A business model also determines the type of products and/or services that make sense for the company to sell and how to effectively market and brand those products or services. The will identify the ideal customers the company should aim to capture, the depth of customer demand and anticipated operational and selling expenses. Miscalculations in the business model planning are almost certain to eventually result in unmet revenue expectations. Appropriate market research is the remedy for an ineffective business model. Study direct competitors and industry trends.

Reconfirm customer demand

Understanding your target customer’s needs and priorities is integral to start-up success, so obtaining psychographic data will help you clarify what is essential to them when they shop in your product category. Whether or not your business failure was a lapse of product-market fit, identifying and then learning how to communicate your offering’s value proposition is a key component of brand-building and achieving sales revenue goals. An insufficient product-market fit results in the product or service failing to resonate with prospective customers and results in weak demand.

Revisiting the buyer persona of your ideal target customer will also be instructive. Let your market research lead you to identify the right customer, the right product-market fit and just maybe, reveal a niche target audience with a readjusted offering, that differentiates you from competitors and paves the way to a loyal customer base that is your springboard to sustainable growth.

Reassess pricing

Pricing problems limit sales revenue, whether you’ve priced too high or too low. Incorrect pricing is often implicated in cash-flow and revenue difficulties. Get your bearings by researching three or four competitors to verify the price tolerance range for your product or service category and get an idea of how you might readjust your pricing—and maybe customer payment options, too. Being flexible and creative with how customers can purchase and pay for products and services—on your website, on social media, on consignment, with free delivery—can boost sales and build your customer base. But first, do your price comparisons to ensure any new pricing is competitive and fits your market tier and brand, whether luxury, midlevel, or economy.

Reexamine the sales strategy

Again, make it easy for customers to do business with you, whether you are a bricks & mortar shop, sell on line, or offer your wares through a subscription service. Also, shipping and delivery should be easy and priced at a level that customers accept.

Furthermore, inefficient or cumbersome business procedures can drain time and resources away from serving customers and growing the business. Investigate technology—marketing, financial, operational— to simplify workflows, delegate tasks, improve organization, speed up processes and reduce expenses associated with day-to-day operations.

Thanks for reading,

Kim

Image: © iStock for TheSchoolRun. The solar system.

Energize Your Productivity

Who isn’t looking for ways to maximize your productivity? You have responsibilities to tackle and a bucket list of goals and aspirations to work through. Ramping up and maximizing your productivity means more than just getting work done—although that in itself is a victory. Getting your productivity engine up to peak performance is how you make a go of creating a life that is meaningful for you, that enables you to attain your version of success.

There are many systems and tactics designed to enhance productivity and you are probably familiar with several. You may have your favorite rituals but when looking to optimize your performance, it can be worthwhile to evaluate new techniques. Acknowledging that you can potentially benefit from incorporating productivity hacks that fit your style is part of the fuel that gets you motivated and getting things done.

Prioritize tasks ABCDE

Numerous studies have shown that prioritizing tasks boosts productivity. It has lately become fashionable in corporate circles to promote the Eisenhower Matrix, a productivity system inspired by a quote made by Dwight D. Eisenhower, who was U.S. President 1953-1961. Another productivity system, one you may find both powerful and especially intuitive, is called the ABCDE Method and it is as basic and useful as its name implies.

To make the ABCDE Method work for you, simply rank the projects and tasks you are responsible for based on their urgency and work first on what is most urgent. That is the genius of the ABCDE Method. The method was developed by Brian Tracy, the acclaimed time management expert and author of numerous books, including Focal Point: A Proven System to Simplify Your Life, Double Your Productivity, and Achieve All Your Goals (2001). The ABCDE Method acknowledges that you already know which projects are front-burner and which are back-burner and what you need is a road map to help yourself get organized and motivated and that is precisely want you get here.

The elegantly simple and highly effective ABCDE method asks you to start by creating a to-do list that documents all that you must do today, this week, or this month—you decide—then rank your tasks from most important to least important. Below is your ranking template:

A Tasks: What is very important, possibly urgent. These you must do because there can be serious consequences if you fail to address them on time. If you have more than one front-burner project, rank them as A-1, A-2, A-3, with A-1 indicating your most urgent responsibility. Your A tasks and their completion largely determine the entire course of your career. Incidentally, The Pareto Principle, known as the 80/20 Rule, recommends that you focus on the most impactful 20% of your work to generate 80% of revenue or other desired results, giving another vote of confidence to the ABCDE productivity boosting method.

B Tasks: These are tasks you should do, but the consequences for delaying action will be mild—you may inconvenience someone. The rule is that you should never do a B task when there is an A task left undone. You should never be distracted by what is less important when there is a front-burner project on your desk.

C Tasks: What would be nice to do, but there are no consequences for not doing it at all or not doing it in a timely fashion. C tasks include phoning a friend, having coffee or lunch with a co-worker, or completing personal business during work hours. These activities have no effect on your work. Never complete a C task when there are A or B tasks left undone.

D Tasks: Activity that you can delegate to someone else. The rule is that you should delegate everything that you possibly can to other people. This frees up more time for you to engage in your crucial A Tasks.

E Tasks: Something that you should eliminate altogether. You can only effectively manage time and optimize your productivity until you stop doing things that are not necessary for you to do.

Take short breaks.

Inserting a few breaks during your workday can improve your productivity . You might decide to have a mug of tea or a glass of juice and listen to some music for a few minutes. Or maybe you’ll stretch for 15 minutes, or go outdoors on a half-hour walk or run. Then again, just closing your eyes and thinking of nothing might be the best remedy. Whatever you do, you’ll improve your energy, focus and productivity by temporarily taking your mind off work a few times during your work day. Productivity diminishes the longer you go without a break and productivity experts recommend that you work no more than 8 -10 hours daily (unless you have a deadline to meet). At a certain point, your body and mind simply cannot produce anymore and continually pushing yourself to work very long days can lead to burn-out.

Optimize your office space

The 4000-year-old Chinese philosophy known as Feng Shui advises us to clean and organize our living and working spaces, so that we can feel relaxed and content and also become more productive. Marie Kondo, organizing expert, television host and author of The Life-Changing Magic of Tidying Up (2011) echoes and amplifies that same message. You might not expect the environment in which you work to influence your productivity and mood, but evidence suggests that is the case.

Studies have revealed that a well-organized and aesthetically pleasing workspace can boost productivity, enhance creativity and reduce stress levels. An organized and attractive space that has good natural light can enhance your focus, reduce distractions, help you feel calm and promote a positive mindset that collectively help you get your work done. Simple changes, such as improving the lighting, adding plants and displaying personal mementoes like art and family photos can positively impact your work performance. Below are tips to get started on creating a beneficial work space. https://freelancetheconsultantsdiary.wordpress.com/2010/04/06/feng-shui-your-office/

  1. Declutter: Keep your workspace organized and free of unnecessary objects and you’ll limit time that would be wasted searching for misplaced items.
  2. Lighting: Introduce adequate lighting, preferably natural light, to reduce eye strain and improve mood.
  3. Ergonomics: Use furniture in your workspace that’s designed to help maintain good posture and prevent physical discomfort.
  4. Personalization: Add personal touches, e.g. plants, photos and art, that make your workspace pleasant and inviting.

Get enough sleep

A 2014 survey by the National Sleep Foundation found that 45%. of American adults get inadequate sleep and that the outcome of poor sleep causes between 23-45% of the population to lose more than two work weeks (10+ days) worth of productivity every year. Lack of sleep is known to undermine not only job performance and productivity, but also career advancement and job satisfaction. Furthermore, insufficient sleep is linked to job-related accidents, absenteeism and even counterproductive work behaviors. On the plus side, adequate sleep has been linked to improved memory and improved learning ability.

Matthew Carter, PhD, Assistant Professor of Biology at Williams College in Massachusetts and a sleep specialist, explains, “One of the biggest reasons that people don’t get enough sleep is because they feel they have too much to do, or because they are stressed about what they need to work on. So we’re not getting enough work done because we’re sleep-deprived and we’re not sleeping because we’re not getting enough work done.”

So how much sleep should you get? Carter says, “In reality, most people need somewhere between six and eight hours. A small percentage of people only need five hours and another group of people are on the other side of the scale and can need nine to ten hours of sleep.” In other words, “it depends.” But the fact remains, adequate sleep promotes productivity and creativity, while insufficient sleep erodes both.

Cancel multitasking

When we first heard of it, multitasking made sense—a practical way to get more done in a shorter amount of time. Sort of like doing a load of laundry while you clean the living room. However, research indicates that your brain can only handle so much work before becoming overwhelmed. Multitasking makes you prone to making mistakes, retaining less information and in general, erasing whatever gains you made by working on two or more tasks simultaneously.

Furthermore, the distraction that is inherent in multitasking does nothing for concentration or creativity. Productivity experts now realize that the smart thing to do is focus on one task at a time, instead of trying to do two things at once. When you devote your full attention and effort to each task, your work output improves—meaning you’ll avoid mistakes, access your creativity and ingenuity and overall, you’ll produce your best work. Whenever possible, do one thing at a time.

Thanks for reading,

Kim

Image: © EA Consulting, Houston, TX. Back office workers.

Be the Leader Who Gets Results

Freelancers and other business owners step into leadership from the moment you begin operating as a self-employed professional who provides products or services to customers. You are motivated by the desire to advance the long-term success of your organization. You understand that you must be an effective, and perhaps also an inspiring, leader who provides a clear vision of your organization’s mission, values and goals.

The method that you perhaps instinctively choose to express your leadership role is known as your leadership style. Your style defines how you guide, motivate, manage, or collaborate with your team to implement strategies and execute tactics that achieve the goals, objectives, or deadlines for which you are responsible. Your go-to leadership style is based on your personality and life experiences and may be influenced by your organizational culture and the goals you will achieve.

While there are several commonly used leadership styles Daniel Goleman, a psychologist renowned for his work on Emotional Intelligence, notes that, “Being a great leader means recognizing that different circumstances may call for different approaches.” Research supports his opinion, indicating that highly effective leaders recognize that circumstances may compel them to adapt their leadership style in response, be it changes within the team, a shift in organizational dynamics, or fluctuations in the business environment. Leaders who know how to get the best results understand that they must be sensitive to the composition of their team, understand the relevance of the goal that must be achieved and, most of all, they possess the agility to adjust their leadership style as needed.

As Goleman emphasized, “The most effective leaders switch flexibly among the leadership styles as needed…[They] don’t mechanically match their style to fit a checklist of situations — they are far more fluid. They are exquisitely sensitive to the impact they are having on others and seamlessly adjust their style to get the best results.” Below are leadership styles that may be useful for you.

Charismatic Leadership

The leaders of this style are expert communicators and possess a level of personal magnetism that inspires trust and loyalty and enables them to persuade others to follow their lead. They radiate warmth, sincerity, intelligence and authenticity; they inspire, excite and spark loyalty among team members. Well-known charismatic leaders include the Dalai Lama, the late Queen Elizabeth II of Great Britain and former President Barack Obama. For those who have that irresistible aura, this style is associated with social activists, motivational speakers and religious or political figures—leaders who need to inspire and gain the devotion of their followers.

Key characteristics

  • Charismatic leaders are very confident in their approach. They have a very influential personality and are not known to harbor self-doubt or second-guess their decisions.
  • They embody the values, beliefs and motives of their team and they believe deeply in the abilities of team members.
  • They have high expectations, are often highly competent and become a role model for team members.
  • Creates a sense of positive change.
  • Motivates and inspires the team.
  • Encourages teamwork and collaboration.

Coaching Leadership

This style of leadership believes in teaching and mentoring team members, to put them on their path to excellence. They are usually experts in their field of interest and are great communicators. This type of leadership is most effective with younger, inexperienced teams. By providing constructive feedback, setting clear goals and offering guidance, coaching leaders aim to empower their teams to overcome challenges and excel in their roles. This approach is particularly beneficial for long-term organizational growth, as it invests in individual team members’ skill development and career advancement.

While coaching management can bring substantial benefits to an organization, notably increased team member satisfaction and improved performance, it may pose challenges in situations where
immediate business needs demand swift and decisive actions. Moreover, the necessity of mentoring and professional development require a leader with patience. Works best for teams whose members need to be trained thoroughly to achieve peak performance.

Key characteristics

  • Coaching leadership works best with people who appreciate guidance and mentoring and are willing to learn from their leader.
  • Leaders should be ready to spend time and energy coaching and grooming team members to develop their competencies and improve their performance.
  • Empathy and trust are the pillars of this style of leadership.
  • Encourages innovation.
  • Gives team members constructive criticism.
  • Gives team members opportunities to become future leaders.

Autocratic Leadership

Autocratic leadership is the boss-centered approach to leadership. This leader controls the show. S/he follows a top-down approach to communication and it can be said that s/he doesn’t so much communicate as issue commands. Autocratic leaders make all decisions and expect team members to comply. They don’t collaborate because they are not seeking input from the team. Instead, they evaluate matters from their own perspective.

Autocratic leaders are often not interested in team bonding that begins with socializing and may include team-building activities. This leadership style typically exists when there is considerable lack of trust within the organization, which may explain why the leader, or those whom s/he represents, has the power to make all the decisions. This style may be the most pragmatic approach when consensus is not possible and the leader is required to make judgment calls.

Key Characteristics

  • Highly structured environment.
  • Facilitates quick-decision making.
  • May be useful where conflict is present.
  • Restricts creativity and innovation.
  • Can lead to low morale within the team.
  • Not suitable for companies that promote a collaborative culture.
  • Leaders may lack agility, or the ability to adapt or pivot.

Laissez-faire Leadership

Laissez-faire is a French term that in English means allow to do and the core of laissez-faire leadership is non-interference. Also known as Delegative Leadership, practitioners of this style adopt rather a hands-off approach. Laissez-faire leaders provide minimal direction and allow team members to work independently and without much oversight.

These leaders are likely to delegate much of the decision-making responsibility to the team, enabling them to take ownership of their work and make decisions independently. The laissez-faire leader is likely to spend most of the time focused on his/her own work rather than monitoring the team and in so doing cultivates trust and empowers team members to take control of their own tasks and projects.

This leadership style can be particularly effective in situations where team members are highly skilled, experienced and self-motivated and require minimal supervision. Works best if the leader has a group of people who already excel at their skills and team members thrive in an environment of independence, where they can hone their own leadership skills. 

Key characteristics

  • Considerable trust is given to team members.
  • Team members have great autonomy, which promotes creativity and innovation.
  • Employees get ample room for personal growth
  • Learning and professional development are encouraged.
  • Team members have the freedom to work in their own way.
  • There is no micromanagement
  • Faster decision-making.
  • Constructive feedback is a vital component of this leadership style.

Servant Leadership

The servant leader operates on the idea of service as the defining ingredient of leadership. The needs of team members are prioritized over his/her own and the focus is on supporting and empowering them so that they can achieve professional growth and development. Servant leaders provide guidance and support and actively seek out opportunities to help team members to succeed.

This style can lead to higher employee engagement, better job satisfaction and employee retention and an improved organizational culture and sense of community. Servant leadership is particularly effective in environments where team members have felt unsupported or undervalued. By putting their needs first, servant leaders can help build trust and respect and create a positive work environment.

At its core, servant leadership promotes ethical decision making by creating a culture and encouraging values where all participants will be inclined to make decisions based on what is right for everyone involved, rather than what will benefit a select few. This leadership style fosters an environment where creativity and problem-solving thrive as team members feel empowered to suggest new solutions and build upon each other’s ideas. Use this style when you lead a diverse team, where personalized management for team members is necessary.

Key Characteristics

  • This style has a high degree of awareness toward the team. Leaders of this category are great listeners. It gives them a better understanding of the team’s strengths and weaknesses.
  • Great for building respect, trust and loyalty.
  • Helpful in building a solid company culture.
  • Promotes ownership and responsibility.
  • Increases employee morale and confidence.
  • Builds trust and loyalty within the team.
  • Team members feel valued.

Transformational Leadership

Transformational leadership theory emphasizes the leader’s ability to inspire and motivate their team members and incite them to put aside their own self-interests for the greater good of the organization. Transformational leaders inspire team members by way of their vision, charisma and intellect, as they promote innovation. These leaders aim to motivate their team to transform systems, processes, or products and build a more successful and sustainable future for the organization.

This leader makes the team feel that all are fully on board with the cause of promoting the innovate vision and mission and will work hard to bring excellence. This feeling brings purpose that encourages bonding, loyalty to the organization, fellow team members, the leader and creates a sense of belonging. Transformational leaders give team members opportunities to explore different ideas and approaches and encourage them to let their creative juices flow.

The relationship between leaders and staff can help the organization, according to those who incline toward this style. As they see it, effective leaders inspire workers to go above and beyond what they believe they are capable of. Leaders develop a vision for their team members and motivate them to realize it.

Employee morale is raised and inspired by transformational leaders, which helps them perform better at work. These managers encourage staff members by their deeds rather than their words because they specialize in setting an example. Use this style in rapidly growing companies and in fast-paced or ever-evolving industries when business requires constant innovation and moving ahead of the crowd, from high fashion to high tech.

Key characteristics

  • The leader must set the example.
  • Give interaction a high priority.
  • Encourages team to self-manage and be proactive in their work.
  • Be open to new approaches and concepts.
  • Take chances and make difficult choices.
  • Works well when a new approach and fresh ideas are needed.
  • Can take the leader and team members outside of their comfort zone.
  • Encourages professional and personal growth of the leader and team members.
  • Encourages creativity.
  • Encourages change.
  • Maintains a focus on the big picture.
  • Regular feedback is essential.

Thanks for reading,

Kim

Image: Courtesy of the Neues Museum in Berlin, Germany. Nefertiti (1370 – 1330 BC), reigned as Queen Consort of Egypt 1353-1336 BC. She was the Great Royal Wife of Pharoah Akhenaton (born Amenhotep IV, 1379- 1336) who reigned in the 18th Dynasty of Egypt circa 1353 – 1336 BC.