All posts by Mike Downer

Life is a Negotiation, Come out on top

One of the most valuable lessons I have learned in my career is the power of being an effective negotiator.  Some people will say that their job doesn’t entail negotiations but I would argue every job involves negotiations.  Whether you are trying to make a sales pitch with a formal presentation, doing a price negotiation with a supplier, trying to get your cross functional team to use your project idea, or even trying to convince your boss you need a raise.  If you talk to anyone at work at some point you are doing some sort of negotiation.

Being persuasive is another way to view negotiations.  If you are trying to persuade someone of your point of view then you are doing a negotiation.  The quicker you realize you are negotiating with someone the quicker you can begin to use some of these tips of how to be more persuasive:

http://www.lifehack.org/articles/communication/how-persuasive-and-get-what-you-want-easily.html

For the basis of MP we are primarily talking about how to be more persuasive during presentations.  Every time we present in MP we are trying to persuade the audience to think our solution to the problem is the best solution out there.  Before you put together any presentation you should ask yourself “What do I want from the audience?” and then tailor your presentation to achieve that.

As I mentioned above I like to look at being persuasive as an important skill set to being successful in business.  Being an effective negotiator can get you on the projects you want, have the processes you want implemented, working with the people you want, and ultimately getting you that job and promotion you covet.

Some people don’t like negotiating, initially myself included, but the more you practice it and use these techniques the more natural it will become.  Before you know it you will be negotiating with people without even realizing it.

What have you negotiated for lately?

Consumer Analytics and the Future of Shopping

These days the concept of “Big Data” is becoming more and more popular.  Companies are using Big Data to get a better understanding of who their consumer is and what they value.  Some companies have even hired employees just to mine data.

Two examples I have been a part of in my career are Home Depot dotcom and bubba brands.

While I worked at Home Depot dotcom they had a full team dedicated to understanding how an online consumer shops, what their product preferences are, and how to best get them to the pages they are interested in.  Since we were operating in an online environment the data was real time and easy to obtain.  All of these analytics and upgrades have Home Depot dotcom positioned to be a top 10 online retailer by the end of 2014.

At bubba brands we do 95% of our sales through big box retailers so it is not as easy to become intimate with our consumer.  In order to get closer to our consumer we have focus groups once a month throughout the country to understand what women look for when they purchase drinkware.  We combine this qualitative data with the quantitative data to make real time decisions on product assortment and future product launches.  This analysis has positioned us as the number one drinkware vendor in Wal-Mart.

The below article provides information on consumer analytics and how it is going to shape the market place in the future.

http://timoelliott.com/blog/2014/02/the-future-of-customer-analytics.html

 

How is your company using big data to better reach your end consumer?