The Biggest Mistake a Leader Can Make
Here is a video from Harvard Business Review on the biggest mistakes a leader can make.
Through Imagining the Future of Leadership, a symposium at the Harvard Business School and accompanying blog series, expert thinkers gathered to investigate what is necessary today to develop the leaders we need for tomorrow.
Featuring:
Bill George, Professor, Harvard Business School and former Chairman and Chief Executive Officer of Medtronic
Evan Wittenberg, Head of Global Leadership Development, Google, Inc.
Dr. Ellen Langer, Professor, Harvard University
Andrew Pettigrew, Professor, Sïad Business School, University of Oxford
Gianpiero Petriglieri, Affiliate Professor of Organizational Behavior, INSEAD
Carl Sloane, Professor Emeritus, Harvard Business School
Jonathan Doochin, Leadership Institute at Harvard College
Scott Snook, Associate Professor, Harvard Business School and retired Colonel, US Army Corps of Engineers
Daisy Wademan Dowling, Executive Director, Leadership Development at Morgan Stanley
What do you think are the biggest mistakes a leader can make? What are the biggest mistakes that you see most frequently from leaders?
How Social Technology Must Integrate with Traditional Marketing
Although social technologies have been capturing marketers time for over four+ years in corporate, they’ve often been operated in a silo as experimental, or a separate deployment from traditional marketing. Yet the savvy marketing leader knows that reaching customers is increasingly becoming challenging as their touchpoints continue to fragment.
To reach the fragmented customer, marketers must apply an integrated approach. As an industry, we should dispel notions that social marketing and it’s subsequent tools should operate in a silo, but instead sit horizontally in the marketing organization as they impact so many different forms of marketing tactics, approaches, and mindsets.
The full article walks through the marketing tactic, why it’s important and the opportunities of social technology. It continues then with a series of recommendations around shattering the silo and integrate social across all marketing efforts now:
- Start by organizing your company in a Hub and Spoke, Dandelion, or Centralized model
- Cascade training and encourage sharing to reduce risk and decrease time to market
- Require marketing plans to consider a social technology integration –not be a last minute addition
What are the major stumbling blocks in most organizations for fully utilizing social networking in their marketing plans? What are some easy steps that can be taken that would have an immediate impact?
Oracle’s Suit Against Google Threatens Android
Google’s attorneys are quickly preparing a response to a suit filed by Oracle claiming that Google’s Android operating system for smartphones and other devices illegally uses ideas and code from Java.
Steve Lohr reports, in his recent New York Times article, that while “open source” software once represented a “communal idealism”, it has become a weapon in corporate warfare.
Sun Microsystems developed Java and the associated tools in 1995. Oracle bought Sun in January. The initial response from Google’s general counsel was that Oracle is “trying to put the genie back in the bottle”.
“It’s not so much good companies and bad companies in this kind of situation,” said Mr. Lea, a member of the executive committee of the Java Community Process, a group that defines Java features and standards. “These companies compete viciously and have different interests. And in this case, you have two corporations that champion different forms of open source.”
Dan Pink on the surprising science of motivation
Watch a short video from career analyst Dan Pink examines the puzzle of motivation, starting with a fact that social scientists know but most managers don’t: Traditional rewards aren’t always as effective as we think. Listen for illuminating stories — and maybe, a way forward.
157 App Stats You Need To Know
We’re pleased to offer a presentation, compiled by Mobile Entertainment magazine, with 157 different stats, taking in app stores, consumer usage, analyst predictions, and app success stories.
Cardlytics Closes $18 million of Growth Capital
ATLANTA, Aug 16, 2010 – Cardlytics, the pioneer of transaction marketing, announced today that it has raised $18 million in new equity to support its rapid expansion. New investors ITC Holdings and Kinetic Ventures led this round of financing and all previous investors participated including Canaan Partners, Polaris Venture Partners, and Total Technology Ventures. Concurrent with the financing, Campbell B. Lanier of ITC Holdings and Kinetic Ventures has joined the Cardlytics Board of Directors.
“Our exceptionally strong direct marketing performance coupled with the rapid expansion of our Financial Institution footprint positioned the company to attract significant capital from strategic new investors,” said Scott Grimes, CEO of Cardlytics. “Mr. Lanier, with his deep experience in growing and governing high growth businesses, is an exciting addition to the board.”
The additional financing comes at a time when demand for the Cardlytics platform has surged among leading national and regional retailers and service providers. Cardlytics’ transaction marketing platform is a strategic channel for advertisers to connect with consumers via the broadly used and trusted on-line banking channel. “Transaction marketing presents an enormous opportunity for retailers as its use of consumer transaction data allows them to target customer offers with an unprecedented level of accuracy,” said Jason Green, Principal with the Cambridge Group. “Demand for Cardlytics’ platform will continue to increase as more banks and retailers learn of this new channel’s effectiveness.”
Leveraging the Cardlytics platform, financial institutions will be providing retail offers to over 10 million consumers this fall. “We are working closely with our financial institutions to bring the benefits of transaction-marketing to all customers, even if they are not active on-line banking users. This influx of capital provides the resources to accelerate the introduction of our next generation of technology,” said Lynne Laube, President of Cardlytics.
“We are seeing the Cardlytics platform and transaction marketing redefine the concept of direct marketing,” said Lanier. “Retailers are able to increase loyalty and acquisition by accurately and efficiently presenting the most valuable offers to customers in a pay for performance model and financial institutions provide valuable rewards to their account holders at no cost.”
According to Ken Gronbach, a generational marketing expert, recent CNBC contributor and CEO of KGC Direct, “With transaction marketing, retailers now have access to a channel that drives real and measurable value. It affords marketers with an unprecedented ability to reach all targeted audiences, but especially the challenging Gen Y segment, with relevant rewards that retailers fund only when generating incremental sales.”
Cardlytics’ innovative platform continues to win industry accolades. In July, the company was named a 2010 Red Herring North America Top 100 award winner, a prestigious list that honors the year’s most promising 100 private technology ventures from the North American business region. In March 2010, Cardlytics was also named as a Top 10 Innovative Georgia Technology Company.
Morgan Keegan’s Revolution Partners Technology Investment Banking Group acted as financial advisor to Cardlytics in its funding round.
About ITC Holding Company
Founded in 1896, ITC Holding Company represents a century-long legacy of innovation in the widely diversified fields of telecommunications, technology, financial services, transaction processing, and real estate. ITC invests in entrepreneurs whose ideas and value systems are consistent with those of their founders. With a track record of backing innovative leaders with unique ideas, strong management teams, and demonstrated ability, the Company maintains a strategic goal of a minimum long term return to its shareholders of 20% annually. Successful ventures include early stage funding for Telecom USA, MindSpring, HeadHunter.net, Powertel, Knology, and Firethorn.
About Kinetic Ventures
Kinetic Ventures, with offices in Atlanta, GA and Chevy Chase, MD, is a leading venture capital investor in high growth, industry defining communications, information and power/clean technology companies. Since 1985 and via eight venture capital funds, Kinetic has partnered with outstanding entrepreneurs to build world-class enterprises. Kinetic is gratified to be partners with many remarkable entrepreneurs in the creation of industry defining companies like BroadWare, Calix, Cerent, Ciena, Corvis, Peace Software, PlaceWare, VerticalOne, Cyan Optics and others. For more information visit www.kineticventures.com.
About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. Founded in 1987, the firm has raised eight funds and completed more than 78 acquisitions and 53 IPOs. With $3 billion under management and a worldwide footprint, the firm is committed to catalyzing the growth of innovative digital media, communications & mobility, enterprise and clean tech companies. Among its successes are Associated Content, the people’s media company; VOIP equipment supplier Acme Packet; CommerceOne, the company that pioneered B2B ecommerce; DoubleClick, the leading online advertising solution; Match.com, the most popular online dating site in the world; and SuccessFactors, the global leader in on-demand performance and talent management solutions. Other Canaan investments include 3Crowd, Active Networks, Blip.tv, Blurb, iYogi, Lending Club, ON24, OpenSky, Prime Sense, SOASTA, Tremor Media, TweetPhoto, Watercooler and Zoosk. Canaan has offices in California, Connecticut, India and Israel. For more information visit www.canaan.com.
About Polaris Venture Partners
Polaris Venture Partners is a partnership of experienced venture capital investors and technology executives. Our mission is to identify and invest in seed, first round, and early stage technology and life science businesses with exceptional promise and help them grow into sustainable, market-leading companies. In addition, Polaris is committed to providing growth equity and shareholder liquidity to established companies in the technology, healthcare, manufacturing, media, communications, and business services sectors. As a national venture capital firm with offices in the high-tech centers of Boston and Seattle, we’re able to invest in businesses throughout the United States and around the world. The firm has over $3 billion under management and current investments in more than 100 companies. For more information visit www.polarisventures.com.
About Total Technology Ventures
Total Technology Ventures (“TTV”) was founded in May of 2000 by Managing Partners Gardiner Garrard and Tom Smith. TTV is an Atlanta-based venture capital firm that provides capital primarily to early and expansion stage financial technology companies. The TTV team is a powerful combination of managing partners, advisory board members, and strategic partners. TTV uses this team-based approach to support its portfolio companies, enabling management teams to focus on their core strengths — building successful businesses. TTV targets companies where it can leverage the close relationships with its strategic partners: Synovus Financial Corp., TSYS, and CheckFree Corporation. We provide the capital, experience, resources, and the network to help companies excel. For more information visit www.ttvatlanta.com.
About Cardlytics
Through a highly relevant, “market-of-one” approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers’ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers’ banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics’ multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit http://www.cardlytics.com/.
SOURCE: Cardlytics
For Cardlytics
Heather Sugg, 813-374-6362
or
Alex Shorter, 678-781-7207
Is Apple Bringing Mobile Payments To iPhone?
With the hiring of Benjamin Vigier and multiple recent patent filings, are we seeing Apple begin a push into mobile payments? What impact will this have on the payments industry?
Near Field Communications (NFC) describes a short-range, high frequency wireless technology that allows mobile devices to communicate directly to exchange data. This is key for a number of applications such as electronic keys, mobile payments, mobile ticketing, certain types of advertising, etc.
Near Field Communication World, a trade publication for NFC-related (near-field communication) products, just posted an article about Apple hiring Benjamin Vigier. Vigier is known as an expert in NFC, with time at Bouygues Telecom, Sandisk and mFoundry. At mFoundry, he oversaw development of Starbuck’s barcode reading application and much of PayPal’s mobile services.
In addition, Apple has been discussing possibilities for services such as “iPay”, “iBuy” and others, while at the same time filing numerous patents in the area. The patents seem to cover many areas including specific uses of mobile payments from mobile devices tied directly to iTunes, credit cards or banks, in the areas of airline ticketing, boarding passes, gaming, event ticketing and even lodging.
This is a good move for Apple, given the continued steady expansion of Google into payments which will continue through the adoption of Android. It should allow Apple to strengthen its position and take a proactive approach to the payments arena.
How will this affect many of the financial services and payment companies currently satisfying both broad and niche markets? It’s not a death blow by any means, but it is a signal to possible increased competition and the need to continue looking for ways to expand into new technologies and perhaps partner with other large players.
Dell Streak… I Got Mine!
Who is getting VC money this year?
Who is getting VC money this year?
Marty Zwilling does a great job in starting to answer this in his new article Who Is Getting Venture Capital Money This Year, which walks through CB Insights report Venture Capital Human Capital.
“Ninja Assassin” Entrepreneurs: “What I’m looking for is what I call a Ninja assassin — a creative, fearless, nimble, focused entrepreneur,” said Ann Miura-Ko, a 33-year-old partner with newly formed venture firm Floodgate Fund in Palo Alto, California. “They’re the kind of person who’s taking a different path and is singularly passionate about a particular idea.” Read more in Lawrence Aragon’s article on ABC News.
Download the full Venture Capital Human Capital Report here.
Insights into Innovating via Mobile Devices
Hey, you rock star, you. You know all about innovating through mobility, right? You do the text messaging and the digital coupons. You’re even developing the app your boss wants. You’re mirroring what you have on your website. All in all, you have it under control. Yep, you can check another item off your to-do list.
And six months from now, you can start explaining why the competition is outperforming you when it comes to retaining customers, winning new business, and communicating with existing customers and potential ones through their cell phones, PDAs, smartphones, and such other mobile devices as the iPad and HP Slate.
Here’s the problem. While absolutely nothing is wrong with being tactical — and that is probably what you have been doing up until now if you think of communicating with your customers’ cell phone as “mobile marketing” — you need to do more. You must start thinking about where mobility fits into your overall business strategy. And if you are like most marketers and innovators, you haven’t done that yet. Let’s talk about what you have to do and how you can do it.
…When thinking about how to use mobility to leverage your business model to capture new opportunities, revenue, and connections with consumers, repeat after us: “I will not limit myself to mobile marketing. I will think behavior, not technology. I will master the five mega reasons people love their mobile phones so much, and I will capitalize on them — before my competition does.”
Read the rest of the article, including 5 insights to mobile innovation.
Top Recruiter Finds Adaptable Executives in High Demand
One area of the job market is growing far beyond the others – executive and senior management roles with proven track records of adapting to new technologies, with health care, financial services and technology taking the lead.
The WSJ recently interviewed Clarke Murphy, head of the global CEO and board-services practice for search firm Russell Reynolds Associates Inc., about the trends scene around searches for the C-level.
WSJ: When did searches for senior management pick up?
Mr. Murphy: Somebody turned on a switch in the beginning of the year. For Russell Reynolds, every month has been busier in 2010 than the month before.
The level of executive hiring is back to where it was in 2007, before the recession began. Companies are trying to embrace new strategies, business lines and geographies.
And private-equity companies are starting to buy companies again. You see executives being recruited to maximize those businesses.
WSJ: Do those industries prefer certain management expertise?
High-tech firms need executives who can anticipate the next wave in the digital media world.
WSJ: Looking across all industries, which leadership skills do directors now seek in a new chief executive?
Mr. Murphy: Boards want a decisive leader who’s able to change quickly, when necessary. Large industrial corporations have got to be more assertive about product launches, product development and going into a new geography.
Boards want to know someone will take charge, but not be dictatorial. The time for grand vision isn’t allowed right now. It is about strong operators who can adapt quickly and gain the confidence of employees and shareholders.
Read the full article on Russell Reynolds Associates site.
We are seeing the same growth and trends at levels beyond the C-level. Small to mid-sized firms are seeking directors to C-level with a strong background in adapting to new technologies and business models.
While the overall job market is still slow, this has created a real opportunity for those that shine. The positions are not always published, but we are seeing more and more companies aggressively seeking the top performers in other firms. It’s not about titles; it’s about the skills and experiences that will help companies grow and adapt to changing business models.
Study: Americans Spent $168M On Mobile Virtual Goods Last Year
BURLINGAME, CA & NEW YORK, NY - Virtual goods purchased on smartphones are a new emerging market in the United States. Who is actually buying them and how much they’re spending, however, has not been completely understood. Today, Frank N. Magid Associates and mobile social gaming network OpenFeint are shedding some light on the subject by providing the first-ever estimate on how much Americans are currently spending on virtual goods.
According to the study, Magid Media Futures 2010 Wireless and Consumers, Americans spent $168 million on mobile virtual goods in the last year. Magid estimates that over 70 million Americans now own smartphones – that’s 23 percent of the population. With 45 percent of those smartphone owners playing mobile games and 16 percent of those spending an average of $41 per year on in-game virtual goods, the market has already exceeded $168 million.
“The market for virtual goods has already exploded in web-based games like Zynga’s Farmville, and we’re just now starting to see this trend in the mobile space,” said Steve Lin, VP Operations of Aurora Feint. “In just the last few months we’ve seen amazing interest from our game developers in building mobile social games with virtual goods. Our internal numbers reflect the study in that free-to-play models will be the dominant pricing structure in the future”
With 55 percent of smartphone gamers interested in buying virtual goods, the market is poised for strong growth as more virtual goods-based games enter the market. The study also shed more light on who is likely to play games on smartphones. Compared to the general population, smartphone gamers skew male and are between 18 and 34 years of age.
Smartphone gamers are active consumers of multiple games, downloading 14 games on average per year. Of these games, recipients paid money for 4 games and obtained 10 for free meaning that consumer pay for mobile games at a 2:5 ratio vs. downloading free games. As expected, Americans are most likely to review application store rankings to find games, but are also likely to rely on word of mouth and the suggestions of their friends.
“Everybody knows free-to-play social gaming models on PC platforms have been making a killing but mobile virtual goods aren’t as well understood” said Mike Vorhaus, President, Magid Advisors. “With almost 20 percent of smartphone gamers already making purchases, there’s a lot of room for the market to keep taking off as smartphones continue to increase in popularity”
This is the first half of a two-part study that will be released this Summer.
For more information on the mobile virtual goods industry or Aurora Feint, please contact Ken Johnston at ken@vscconsulting.com. Aurora Feint partnered with Frank N. Magid Associates, Inc. www.magid.com to conduct and analyze the mobile virtual goods studies.
About Aurora Feint, Inc.
Aurora Feint, Inc.’s software development kit, OpenFeint, allows game publishers to implement services which enable mobile social gaming. With over 26 million registered users and a presence in over 2,000 games, OpenFeint is the first and largest social gaming platform for the iPhone. Aurora Feint is backed by DeNA Inc.
Google Wave….Bye Bye!
According to Google, Google Wave will be saying adios in the next few months. In a post filled with examples of Wave’s innovations and strengths, they acknowledge that the real-time messaging and collaboration tool hasn’t caught on the way they thought it would. However, the code and tools used for / by WAVE will remain open source, so if any of you can make it better… go to it.
To go along with that there has been a lot of chatter about what Google will dump next. Right now the odds are that BUZZ will have a pillow put over it’s face next. People have talked about it as a low value add, and is heavy on the noise since it’s launch.
Looking at WAVE’s demise and talk of other application taking a dirt nap, and if you go back to July when Google announced the demise of the The Nexus One smart phone, which ended the company’s attempt to shake up the way wireless phones are distributed. It makes one ponder a bigger question! Is Google being stretched to thin, are it’s resources that once seemed limitless, hitting a wall? Is the talent at Google at a point where they can’t figure out how to improve WAVE or make BUZZ more useful or are they just bored with them and have decided to move on.
In most organizations it would be considered solid business practice to kill off products that aren’t cutting it, but this is Google… they don’t do this. They aren’t like other companies, or are they!
Oh Well! NEXT!!!
A Community for Cloud Computing!
I was out trolling on the net this weekend and I ran across a neat tool/site called CloudSleuth, which was put together by Compuware. Now I have seen a few other tools out there that look at cloud computing performance, most on an individual basis. However, CloudSleuth gives you information about other cloud environments so you can do a comparison and provides you with a pretty good graphic interface.
Aside from being a tool for investigating performance, CloudSleuth is attempting to become a community and exchange for information about cloud technologies. According to the CloudSleuth site they provide “…a collective exchange of materials, strategies and best practices, CloudSleuth debunks the myths of cloud computing.”
As stated on the CloudSleuth site, this community is a “…means to foster collaboration, maintain constant, relevant communication and feedback on the subject…” There are a number of white papers, document repositories, listing of events, blogs, polls, and even a software catalog. Right now, there is not as much content or interaction going on as I would like to see, but I think it will get there.
Take a look and let me know what you think.
Your detergent is spying on you!
Since a number of us who write for this blog have a background with Navigation / GPS technology, I thought I would post this little bit of odd usage for GPS technology. It seems Unilever’s Omo detergent (Sold in Latin America, primarily in Brazil) is adding an unusual ingredient to its two-pound detergent box in Brazil: a GPS device that allows it to track shoppers and follow them to their front doors.
The idea being that teams will randomly search out the boxes with the GPS tracking and award prizes to the consumers who purchased the detergent. “Of course, Brazil has a high crime rate, and not everyone is going to open the door to strangers who claim to have been sent by her detergent brand to offer a free video camera. Bullet has thought of that. If the team tracks a consumer to her home but she won’t let them in, they can remotely activate a buzzer in the detergent box so that it starts beeping. And if the team takes too long to arrive, and the consumer has already opened the box to see if she’s a winner or just do laundry, she’ll find, along with the GPS device and less detergent than expected, a note explaining the promotion and a phone number to call.”
