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Tom Peters SeminarM3 Rollercoaster Days: Learning to … Rock & Roll! IHRSA San Francisco/03.22.2001
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“There will be more confusion in the the business world in the next decade than in any decade in history. And the current pace of change will only accelerate.” Steve Case
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Part I: Brand Inside Part II: Brand Outside Part III: Brand Leadership
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Brand Inside Brand Talent: The Great War for Talent
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“When land was the productive asset, nations battled over it. The same is happening now for talented people.” Stan Davis & Christopher Meyer, futureWEALTH
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From “1, 2 or you’re out” [JW] to … “Best talent in each industry segment to build best proprietary intangibles” [EM] Source: Ed Michaels, War for Talent (05.17.00)
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“We believe companies can increase their market cap 50 percent in 3 years. Steve Macadam at Georgia Pacific changed 20 of his 40 box plant managers to put more talented, higher paid managers in charge. He increased profitability from $25 million to $80 million in 2 years.” Ed Michaels, War for Talent (05.17.00)
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“Top performing companies are two to four times more likely than the rest to pay what it takes to prevent losing top performers.” Ed Michaels, War for Talent (05.17.00)
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“AS LEADERS, WOMEN RULE: New Studies find that female managers outshine their male counterparts on almost every measure” Title, Special Report, Business Week, 11.20.00
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Women and new- economy management …
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The New Economy … Shout goodbye to “command and control”! Shout goodbye to hierarchy! Shout goodbye to “knowing one’s place”!
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Women’s Stuff = New Economy Match Improv skills Relationship-centric Less “rank consciousness” Self determined Trust sensitive Intuitive Natural “empowerment freaks” [less threatened by strong people] Intrinsic [motivation] > Extrinsic
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“TAKE THIS QUICK QUIZ: Who manages more things at once? Who puts more effort into their appearance? Who usually takes care of the details? Who finds it easier to meet new people? Who asks more questions in a conversation? Who is a better listener? Who has more interest in communication skills? Who is more inclined to get involved? Who encourages harmony and agreement? Who has better intuition? Who works with a longer ‘to do’ list? Who enjoys a recap to the day’s events? Who is better at keeping in touch with others?” Source: Selling Is a Woman’s Game: 15 Powerful Reasons Why Women Can Outsell Men, Nicki Joy & Susan Kane-Benson
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“Boys are trained in a way that will make them irrelevant.” Phil Slater
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Okay, you think I’ve gone tooooo far. How about this: DO ANY OF YOU SUFFER FROM TOO MUCH TALENT?
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MantraM3 Talent = Brand
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What’s your company’s … EVP? Employee Value Proposition, per Ed Michaels et al., The War for Talent
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EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward [EVP = “The company’s fingerprint” = B.P.] Source: Ed Michaels et al., The War for TalentEd Michaels
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BIG MESSAGE #1:
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No excuses – except stupidity & laziness - for “average” talent!
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Brand Inside Brand You: Distinct … or Extinct
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“If there is nothing very special about your work, no matter how hard you apply yourself, you won’t get noticed, and that increasingly means you won’t get paid much either.” Michael Goldhaber, Wired
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“Knowledge becomes obsolete incredibly fast. The continuing professional education of adults is the No. 1 industry in the next 30 years … mostly on line.” Peter Drucker, Business 2.0 (22August2000)
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BIG MESSAGE #2:
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Could you be LEADERS in this “renewal industry”?
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Part I: Brand Inside Part II: Brand Outside Part III: Brand Leadership
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Forces @ Work The Commodity Trap
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Quality Not Enough! “While everything may be better, it is also increasingly the same.” Paul Goldberger on retail, “The Sameness of Things,” The New York Times
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“The ‘surplus society’ has a surplus of similar companies, employing similar people, with similar educational backgrounds, working in similar jobs, coming up with similar ideas, producing similar things, with similar prices and similar quality.” Kjell Nordstrom and Jonas Ridderstrale, Funky Business
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Brand Outside Use E-Commerce to Re-invent Everything!
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“There is no use trying,” said Alice. “One can’t believe impossible things.” “I daresay you haven’t had much practice,” said the Queen. “When I was your age, I always did it for half an hour a day. Why, sometimes I’ve believed as many as six impossible things before breakfast.” Lewis Carroll
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I’net … … allows you to dream dreams you could never have imagined before!
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BIG MESSAGE #3:
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Answer #1 to your [pathetic] retention rates: I’net-led Connection & Community!
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Brand Outside Healthcare et al.: Embracing an e-Led Age of Self-Determination
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The control revolution. The potentially monumental shift in control from institutions to individuals made possible by new technology such as the Internet. Source: Introduction, The Control Revolution, Andrew Shapiro
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“The Web enables total transparency. People with access to relevant information are beginning to challenge any type of authority. The stupid, loyal and humble customer, employee, patient or citizen is dead.” Kjell Nordstrom and Jonas Ridderstrale, Funky Business
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Anne Busquet/ American Express Not: “Age of the Internet” Is: “Age of Customer Control”
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“Under America’s present health care system, you had better take charge of your own health, because no one else is going to do it for you.” C. Everrett Koop
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“It may be the most far-reaching evolution of them all: the metamorphosis of passive patient into consumer – and well-informed, assertive consumer at that. The defining axiom of traditional medicine – ‘doctor’s orders’ - is being turned on its head. These days it’s the patients who are armed, the doctors who must get wired to keep nimble.” “E-health is the new house call.” Richard Firstman, “Heal Thyself,” On Magazine (04.01)
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THE FUTURE: Patients Rule! Control Over Aging! [M&F Cosmetic Surgery, Viagra] Targeted Therapies = High Expectations The Internet! [meds, expert consultation, info- knowledge incl. outcome data & own recs, interaction with peers & docs, awareness that experts aren’t] Alt Therapies! [more visits, some insurer recognition] Awareness [medicine as front-page news, ads] Boomers! [#s, $$$, Ethos of self-control] Prevention/Wellness HMO [no-choice] Revolt “Age of Talent” [Be nice, boss!] Speed! [surgicenters, out-patient, self-admin regimens]
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BIG MESSAGE #4:
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Will you lead this patient-centric, wellness-centric REVOLUTION?
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Opportunity: Fitness as Answer to Many Chronic Diseases Hypertension: 50M Arthritis: 37M Overweight: 100M (58M Obese) LDL>200: 95M Depression: 17M Osteoporosis: 26M Lower Back Pain: 18M Source: IHRSA
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Opportunity: Unsaturated Market! CDC: 03.08.01. 25.4% meet gov’t fitness minimum. (No change in 90s.) 30% : No exercise at all. Causes: high-stress jobs, 100s of cable channels, fast food.
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Brand Outside Women Rule!
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????????? Home Furnishings … 94% Vacations … 92% Houses … 91% Consumer Electronics … 51% Cars … 60% (90%) All consumer purchases … 83% Bank Account … 89% Health Care … 80%
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???? 80+%
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Riding Lawnmowers
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$4.8T > Japan 9M/27.5M/$3.6T > Germany
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New golfers … 37% Basketball … 13.5M 1 in 27 (’70) … 1 in 3 (’96)
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1874?
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1874 … Jock Strap 1977 … Jogbra 1977... 25K 1996 … 42 M
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Read This Book … EVEolution: The Eight Truths of Marketing to Women Faith Popcorn & Lys Marigold
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EVEolution: Truth No. 1 Connecting Your Female Consumers to Each Other Connects Them to Your Brand
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“Men and women don’t think the same way, don’t communicate the same way, don’t buy for the same reasons.” “He simply wants the transaction to take place. She’s interested in creating a relationship. Every place women go, they make connections.” Faith Popcorn Faith Popcorn
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“The ‘Connection Proclivity’ in women starts early. When asked, ‘How was school today?’ a girl usually tells her mother every detail of what happened, while a boy might grunt, ‘Fine.’ ” EVEolution
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“Women speak and hear a language of connection and intimacy, and men speak and hear a language of status and independence. Men communicate to obtain information,establish their status, and show independence. Women communicate to create relationships, encourage interaction, and exchange feelings.” Judy Rosener, America’s Competitive Secret
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“Women don’t buy brands. They join them.” Faith Popcorn, EVEolution Faith Popcorn
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STATEMENT OF PHILOSOPHY: I am a businessperson. An analyst. A pragmatist. The enormous social good of increased women’s power is clear to me; but it is not my bailiwick. My “game” is haranguing business leaders about my fact-based conviction that women’s increasing power – leadership skills and purchasing power – is the strongest and most dynamic force at work in the American economy today. Dare I say it as a long-time Palo Altan … THIS IS EVEN BIGGER THAN THE INTERNET! Tom Peters
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BIG MESSAGE #5:
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(1) SHE is your client! (2) She is NOT he!
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Brand Outside Welcome to “Old World”!
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Subject: Marketers & Stupidity It’s 18-44, stupid!* *18-24: XFL
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Subject: Marketers & Stupidity Or is it: “18-44 is stupid, stupid!”
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2000-2010 Stats 18-44: -1% 55+: +21% (55-64: +47%)
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Member Growth: 1987 – 1997 18 – 34: 26% 35 – 49: 63% 50+: 118% Source: IHRSA
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Aging/“Elderly” $$$$$$$$$$$$ “I’m in charge!”
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50+ $7T wealth (70%)/$2T annual income 50% all discretionary spending 79% own homes 40M credit card users 41% new cars/48% luxury/5M auto loans $610B healthcare spending 74% prescription drugs 5% of advertising targets Ken Dychtwald, Age Power: How the 21 st Century Will Be Ruled by the New Old
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Priorities: Aging/“Elderly” Experiences … Convenience … Comfort … Access … Respect!
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BIG MESSAGE #6:
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(1) I [age 58, >165#, busy] am your client. (2) I have [all the] $$$$$$$$.
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“‘Age Power’ will rule the 21 st century “We are woefully unprepared.” Ken Dychtwald, Age Power: How the 21 st Century Will Be Ruled by the New Old
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Mega-Opportunities: IHRSA 1. The Age Wave Opportunity (78M boomers) 2. The Special Populations Opportunity (chronic health problems) 6. The Health Care Integration Opportunity Source: 50M-2010: The American Fitness Industry’s Plan for Growth
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I don’t think you’re ignoring these three messages. I think [most of you] are not OBSESSED with them.
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Brand Outside BRAND POWER!
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“WHO ARE YOU [these days] ?” TP to Client
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“Most companies tend to equate branding with the company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. WHAT IS MY MISSION IN LIFE? WHAT DO I WANT TO CONVEY TO PEOPLE? HOW DO I MAKE SURE THAT WHAT I HAVE TO OFFER THE WORLD IS ACTUALLY UNIQUE? The brand has to give of itself, the company has to give of itself, the management has to give of itself. To put it bluntly, it is a matter of whether – or not – you want to be … UNIQUE … NOW.” Jesper Kunde, A Unique Moment Jesper Kunde
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Message: REAL Branding is personal. REAL Branding is integrity. REAL Branding is consistency & freshness. REAL Branding is the answer to WHO ARE WE? WHY ARE WE HERE? REAL Branding is why I/you/we [all] get out of bed in the morning. REAL Branding can’t be faked. REAL Branding is a systemic, 24/7, all departments, all hands affair.
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“Create a Cause, not a ‘business.’ ” Gary Hamel, Fortune (06.00)
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“Brand Promise” Exercise: (1) Who Are WE? (1 page, then 25 words.) (2) List three ways in which we are UNIQUE … to our Clients. (3) Who are THEY (competitors) ? (ID, 25 words.) (4) List 3 distinct “us”/“them” differences. (5) Try “results” on your teammates. (6) Try ’em on a friendly Client. (7) Big Enchilada: Try ’em on a skeptical Client!
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BIG MESSAGE #7:
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Who ARE you? What’s your CAUSE?
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“Let’s make a dent in the universe.” Steve Jobs
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