15
Dec 10

CIO Magazine: Use CRM to Crowd-Source Your Product Strategy

CIO — In most product-driven firms, product planning is one of the highest leverage processes in the whole company. There’s a huge difference in the profitability of a “hit” vs. a me-too product, and a dud is worse than just unprofitable. By its nature, product strategy is as much art as science, but bringing more hard data into the process improves the quality of prioritization decisions.

Product strategy needs to be a mix of engineering/operations plan and market survey, but most market survey techniques are quite vulnerable to big procedural and statistical problems. The iconic bad product of the 1950s was the Edsel, yet it was the result of the most thorough surveying processes of its era.

Fortunately, CRM systems naturally contain information about products, customers, and features. Further, modern CRM systems store a sequence of interactions that make the data support richer inferences about “what’s important to customers.”

The most essential data for product planning is transactional: what products sell where, at what discount level, to whom. While the core of this data may be available from your accounting or order-entry system, the CRM system adds color to the transaction, such as the vertical market, the names and titles of the (likely) users, and the length / complexity of the sales cycle. From this data, you can understand which products tend to be bought together, what are the messages, campaigns or offers that tend to stimulate sales, and which competitive situations are the most favorable. From this, you can infer which feature improvements can help you win more often.

More of the CIO Magazine article from David Taber


14
Dec 10

ScienceNOW: To Eat Less, Imagine Eating More

Before dipping your hand into that bowl of M&Ms at the holiday party, think about what you’re about to do. A lot. A new study finds that people who imagine themselves consuming many pieces of candy eat less of the real thing when given the chance. The finding, say experts, could lead to the development of better weight-loss strategies.

Picturing a delicious food—like a juicy steak or an ice cream sundae—generally whets the appetite. But what about visualizing yourself eating the entire sundae, spoonful by spoonful? There’s reason to think that might have the opposite effect, says Carey Morewedge, an experimental psychologist at Carnegie Mellon University in Pittsburgh, Pennsylvania. Researchers have found that repeated exposure to a particular food—as in taking bite after bite of it—decreases the desire to consume more. This process, which psychologists call habituation, dampens appetite independently of physiological signals like rising blood sugar levels or an expanding stomach. But no one had looked to see whether merely imagining eating has the same effect.

More of the ScienceNOW article from Greg Miller


08
Dec 10

Team Ragged Glory: 2010 Tecumseh Trail Marathon and the power of a team

Dino Series‘ Tecumseh Trail Marathon is a tough race. 26.2 miles of trails through the hills of South Central Indiana. December weather. Frequently changing conditions. Team Ragged Glory members Steve Kincade, Nancy Gawrys and I (Doug Theis) made the decision to run it together and give it our best. We even laughed about bringing our on-foot towing system that we use in adventure races so we could have a little fun with some of the other racers.

In the days leading up to the 2010 Tecumseh, Nancy had to bow out because of a scheduling problem. And the weather forecast became threatening. The temperatures looked like they would hold steady at around 30 degrees. The weatherman called for 2-4″ of snow and sleet starting at 8am, 2 hours before race time.

Steve and I talked the night before the race about what we should do. We decided to make the decision the morning of the race. Neither one of us was thrilled with the weather forecast. I was especially worried about getting cold and wet. Since the race is a point-to-point, there isn’t much chance to bail out if you get in trouble.

On Saturday morning at 5am, the sleet/snow combination was falling steadily. The radar looked like it would be a full day of precipitation. If Steve wasn’t running, it would have been over right then for me. The bed was nice and warm. We could stay in Indy and run with Nancy early, then help her with her move. I was assembling a sophisticated list of reasons to skip the race.

More of the Team Ragged Glory blog post from Doug Theis


05
Dec 10

Tecumseh Trail Marathon and my @TeamRaggedGlory teammate Steve Kincade

Dino Series’ Tecumseh Trail Marathon took place yesterday (December 4, 2010). Steve Kincade, long-time Team Ragged Glory member and longer-time friend, and I (Doug Theis) headed down to Yellowwood State Forest in Nashville, Indiana, wondering what the wintry mix of weather had in store for us.

As sleet poured down on the racers, Brian Holzhausen, the Race Director, announced that the roads were too dicey for the bus drivers. He wisely changed the route from a point-to-point to an out-and-back. The south half of the Tecumseh would be our gauntlet. As fortune would have it, the south half is the hilliest half of the trail.

My running partner Steve Kincade and I have been playing in the woods together for a long time. Steve and I met in 1989. Steve worked in the Lab at Methodist and I worked in IT. During the 1991 Indianapolis Mini Marathon, Steve and I ended up running together during the last mile. We started running together shortly thereafter and haven’t quit yet. I was glad he was running with me. He has an uncanny ability to grind out high mileage. Misery loves company.

The gun sounded at 10am. A mixture of sleet and snow fell steadily as we circled Yellowwood Lake and headed north to the 13 mile turnaround. The temperatures stayed right in the 30 degree range the entire event. Between 2 and 4 inches of snow fell as we ran the course. Aside from some tricky passing for the leaders in two-way trail traffic, the race was well executed and tough, as always. Steve and I ended up finishing in about 6 hours and 15 minutes. Our Indy adventure racing friends Eric Henricks, Angelia Kniesly, and Phil McNealy all ran much faster and finished well.

I had a great time with my old friend, Steve. Thanks Brian, for another high-quality installment of the Tecumseh Trail Marathon.


30
Nov 10

The New Sales Coach: Your Old Friend The Phone: Keys to Calling & “Magic Words”

There’s been plenty written debunking the Sales 2.0 myth that you don’t need to make proactive telephone calls to prospects. I think we’re all past the failed fantasy that tweeting about our value-creating blog is going to produce the quantity of face to face meetings we need. And let me be clear, I am ALL for incorporating new media into our marketing mix and sales attack. I’m doing it personally and thrilled with the results so far. But tweeting, blogging and LinkedIn-ing are not replacements for picking up the phone (sorry to those of you looking for an excuse not to call). Social media is a wonderful supplement, but not a replacement for one of our most powerful sales weapons – the outbound proactive telephone call.

More of the blog post from Mike Weinberg


29
Nov 10

Process Improvements and the 80/20 Principle

This morning, I’m kicking off an engagement with Harry Howe of Howe Leadership. Harry is helping me tidy up the processes of my business life so I can do a better job serving my clients and Lifeline Data Centers, the company that I represent.

My sales team and I market via a website, a blog, Twitter, Facebook, LinkedIn, local networking and in-house telemarketing to generate leads.

We meet with clients to talk about requirements, conduct tours, and sometimes respond to RFPs to convert bona fide opportunities into monthly recurring revenue streams.

We publish newsletters, co-host seminars, and meet periodically to provide ongoing value to our clients.

I have enough irons in the fire that it’s become difficult for me to keep all my work organized. It also has become more difficult to step back and evaluate my processes without a little outside help. So Harry is helping me. I’ll write more about the process as it unfolds.


26
Nov 10

Today is a great day for 2011 planning

This summer I attended a Winning Minds seminar with Matt De La Cruz. The subject of the seminar was goal setting. Matt said he uses Black Friday as his day to do most of his 2011 planning. I have decided to use Black Friday as a goal setting day as well.

Matt’s goal setting methodology uses separate sheets of paper for each goal, with very specific metrics and milestones for each one. This is coupled with a weekly and sometimes daily review of progress. How specific are your goals? Mine were pretty non-specific before I took the Winning Minds seminar. How specific are your goals?


24
Nov 10

Ed Theis: I’m proud of you. Remember, you still have a long way to go.

I’ve been thinking about my late father, Edward John Theis. The title of this post is one of his most memorable quotes for me. Although some think it sounds negative, his purpose was to remind me that the quest for excellence never ends, and that there is always opportunity to do more and to get better.

Ed Theis grew up very poor on the south side of Minneapolis during the Great Depression. He lived in a one bedroom bungalow with his parents. His father, Bill Theis, was an elevator operator in the Chrysler Building. Ed slept on the hide-a-bed in the living room. His family took in foster children to help pay the rent.

Ed joined the Army when he was 18, shortly after Pearl Harbor Day. During basic training, he met a man named Elmer Jones from Defuniak Springs, Florida. Ed and Elmer were stationed in Alabama, and one weekend, Elmer took Ed to Defuniak with him for a little down home cooking. Ed met Elmer’s sister, Bernice for the first time that weekend. They would fall in love and marry soon thereafter.

After the war, Ed farmed in Florida with Bernice’s family. But in 1949, a hurricane destroyed their home. Ed had been offered a job in Indianapolis by another war buddy, Orville Allen. Ed, Bernice, and their young daughter Gail packed their belongings and moved to Indianapolis. Indy was almost exactly half way between Ed and Bernice’s childhood homes.

Ed worked at an insurance company with Orville Allen until his retirement in 1982. He succeeded at whatever job he was given, whether it was management, data processing, or human resources.

During Ed’s retirement, he spent a great deal of time with my children. His kindness and generosity was noted by most everyone he met. A former alcoholic, he helped dozens of people with substance abuse problems through AA and through his eldership in the church.

Ed went home to be with the Lord in 2002. I miss his company and his advice. I honor his memory by trying to be as good a man as he was.


21
Nov 10

Team Ragged Glory on Cheating in the Great Outdoors

After the Urban Sprint Race this year, I was fortunate enough to sit in on one of the 2011 planning sessions with the race directors of the Indianapolis-based adventure races. Many topics were discussed, including cheating during an adventure race.

During the Planet Adventure Urban Sprint Race this year, an all-male team was splitting up to take advantage of the opening urban trek section. The team would send a fast member to the control, and the slower members would “cut the corner” and head off to the next control in the mean time. The rules of the race stated that team members must stay within 50 feet of each other at all times. The accused team ended up taking home winning trophies, but were later DNF’ed based on the evidence.

More of the blog post from Doug Theis of Team Ragged Glory


19
Nov 10

Team Ragged Glory is running long at the Fort Saturday morning

@TeamRaggedGlory is running 10-15 at Fort Harrison Saturday morning, November 20. Steve, Nancy and I are training for the Tecumseh Trail Marathon, put on by our adventure racing friend Brian Holzhausen and Dino Series.

Come play with us!