#81: Lagom, keynoting Spiceworld, GenderAvenger, the MassTLC controversy, and fundraising 101
Good morning from beautiful Stockholm! I'm on vacation here during the hottest weather the country's seen in 150 years -- and true to form, this Nordic country is not known for it's AC ;)
But, it does have a few concepts that I have become totally enamored with:
Fika - Swedish culture is no stranger to coffee as a social lubricant, and everyone here enjoys a daily coffee break at an outdoor cafe, filled with snacks and people-watching. (Yes yes yes.)
Lagom - you've no doubt heard the buzz around the Swedish lifestyle concept of hygge (momentary bliss and cosiness), but lagom may be a bit more relevant to our hectic daily lives in the US. It translates to "just the right amount." Everything in moderation, a balance of work and play. No unnecessary small talk, bragging, or dominance.
A refreshing antidote to hustle life.
‘Less is more’ in interior decor. ‘Mindfulness’ in wellbeing, ‘sustainability’ in lifestyle choices and ‘logic’ in business dealings. All these carry a connotation of ‘optimal’ decision-making. More here from the BBC.
Nomofob - a term referring to someone who is anxious at the very thought of being separated from their phone. I know, I felt personally attacked when I heard it too ;)
On to this week's edition of The World's Best Newsletter:
1. Stop focusing on loyalty - start focusing on relevance
2. For more on relevance, read this book
3. I wrote for GenderAvenger, and you should know about them.
4. My POV on the Mass TLC controversy
5. Solid advice re: fundraising
6. Quote of the week
7. New event this fall: Keynoting Spiceworld!
1. Stop focusing on loyalty - start focusing on relevance
Via Harvard Business Review. "In the U.S. market alone, companies are losing $1 trillion in annual revenues to their competitors because they are not consistently relevant enough."
WHAT. MARKETING. You have ONE JOB.
From the piece:
"...brands using the four P’s exclusively often target a static customer archetype (e.g., a high-minded customer for an organic supermarket or a value-conscious customer for a discount chain).
The reality is that there is no such archetypical customer.
Everyone’s needs vary depending on time and context. And with today’s technologies, companies now have the ability to see and act on these fluctuations in the moment. Customers are increasingly expecting all companies to do just that, both in their marketing efforts and in the experiences they offer.
To become a living business, companies should expand their thinking to include the following five P’s as well: purpose, pride, partnership, protection, and personalization. These form a simple and comprehensive test of relevance."
Here's the evolution:
And the most important quote:
"To succeed in this era of relevance, marketers and companies must be continuously willing to abandon the old."
True dat. Full article worth reading.
2. For more on relevance, read this book
When I cofounded a startup with the intention of using tech to evolve the world of customer intelligence (e.g. personas, segmentation, etc) one of the first people I called was Ardath Albee.
For years she's preached the importance of customer-centricity and educated our industry on their creation, and use in informing marketing and messaging.
[ After all, too many marketers don't know sh*t about their buyers. ]
Given the HBR article above, I felt it was a good time to plug her book Digital Relevance, a completely necessary guide to achieving relevance with our target buyers, to avoid the one-off campaign trap, and instead "create brand stories that build over time in order to ensure continued relevance, engagement, and progression toward buying."
Ardath knows what many are learning the hard way - relevance matters more than much else in marketing.
3. I wrote for GenderAvenger, and you REALLY should know about them.
My femvertising litmus test is live today on the GenderAvenger blog - and I'm totally fangirling because I am huge fan of this important organization. Founder Gina Glantz and I shared a panel a few weeks ago, giving me an opportunity to thank her for the work she does.
Haven't heard of them? Let me be the first to introduce you:
The team at GenderAvenger works hard to ensure women are represented in the public dialog, believing "women as equals will become the norm when it is the norm. Everywhere."
Yes. Yes. Yes.
With a motto of "Challenge it. Change it" the team provides tools like the GA Tally app -- so you can quickly showcase imbalances with the power of COUNTING.
Submit the number of men, women, and women of color on a panel, a “best of” list, etc. and it'll create an easy-to-share visual. Read their writeup in Fortune.
Or, my favorite, Time Who's Talking: Using a simple two-button system, you can track and share who is dominating the conversation.
In particular, check out the excuses page from event organizers.
Kudos to this provocative group doing very visible work to challenge gender inequality everywhere it matters in the public eye. They put themselves out there boldly, encouraging all of us to take simple actions to continue the effort.
4. My POV on the Mass TLC controversy
Recently the Mass Technology Leadership Council (Mass TLC) was under fire from many in the city's startup and tech community berating its lack of diversity in an awards listing of top executives in the area.
From a piece at WBUR.
The 15 executives nominated for the Massachusetts Technology Leadership Council's top individual awards this year are all men, a blunt reminder that women remain underrepresented and under-recognized at the fast-growing industry's highest levels... The composition of this year's finalists is not a fluke. Last year, 10 of 10 contenders were men. In 2016, 10 of 10 were men.
Many reacted with disdain, imploring the organization to do better, like this OpEd in the Globe from heavy-hitters in the community (David Cancel, David Chang, Diane Hessan, Kathleen D. Kennedy, Jesse Mermell, and C.A. Webb).
My friend (and constant rabble rouser) Trish Fontanilla posted a response that I found smart - and agree with.
Here's my POV: I've submitted clients in my past PR agency life for this award. It's a lengthy application but one that comes with great benefits. But, that said, it is a community-driven nomination process.
If you know a great woman leader - nominate her. If you're a great leader, nominate yourself. Get over your imposter syndrome and start applying.
If nobody is submitting anyone in your organization for awards, get a better PR firm. (Email me... I have some great resources for you.)
To organizations like Mass TLC, if your numbers are low - be proactive about seeking more. It's a two-sided effort but one that is important. As the Globe OpEd articulates well:
"If our leading organizations can’t figure out how to recognize women, then they don’t deserve to represent any of us."
5. Solid advice re: fundraising
Anita Brearton and Sheryl Schultz, founders of CabinetM, have built the largest directory of marketing technology that exists. No easy feat!
They were recently featured in a piece from Jean Hammond, managing director of Golden Seeds and partner at LearnLaunch Accelerator, which contains a slew of great advice.
My favorite was this advice for entrepreneurs on fundraising from Sheryl:
Don’t start raising money too early. A lot of entrepreneurs feel intense pressure to start raising money straight out of the gate, but you need to get somewhere first. Investors will always remember your first story, and startups don’t move in a predictable straight line. It’s hard to recraft a story once it has been internalized. Validate your market, learn what your customers want, find your champions and then pitch investors.
You only get one chance to make a first impression - make it count.
6. Quote of the week
‘I don’t need her old wringer washer; I want to remember her stories of the road.’
- Laura H. Gilbert, author of The Stories We Leave Behind, in which she advises that we all take what she calls a “legacy-based approach” to dealing with our family's stuff.
Read more in this article "What Boomers Should Do About All Their Stuff".
Thank you as always for reading. We hit a milestone together today... 1,000 subscribers. Small but mighty! Every week I am so grateful for the chance to share my POV on what I consider to be important issues and critical perspectives. Here's to 10,000!
Have a great weekend.
Best,
Katie
Website | LinkedIn | Twitter
PS: Share The World's Best Newsletter on Twitter, or LinkedIn (thank you!!)
Upcoming events:
Who's going down at the #B2B Marketing and Sales Feud at #FlipMyFunnel 2018 next week in Boston? Details and promo code in this blog. (Psst.. I have a couple of free passes left. Write me a poem and I'll give 'em to you.)
I'm excited to be your emcee for the 2018 Women in Digital National Conference. I'll also be sharing a talk on (R)evolution: Suffragettes to Social Media. Join us in Columbus, OH this fall. *** DON'T MISS THIS ***
Can I have your attention please? Hear me share my strategies for breaking through the noise at the MarketingProfs B2B Forum in San Francisco this November.
*JUST ANNOUNCED* I am so so excited to be keynoting this year's Spiceworld 2018, speaking to a room of B2B marketers and sales teams. I'll dig into what makes the most transformative voices so effective - and how courageous brands move buyers from apathy to action. See you there?
Learn more about how to book me to speak.