It Is About Time That Lee Got a Blog: March 2006


It Is About Time That Lee Got a Blog

This blog contains snippets from all of the useless information stored in my head. While mostly made up of links to things that caught my interest, there may also be some original thoughts once in a while

Monday, March 27, 2006

Emerging Technologies

I consider myself somewhat of a geek (ok - quite a geek), but I found myself unfamiliar with many of the "10 emerging technologies" listed by MIT's Technology Review magazine. The one with the most direct applicability to our industry is universal authentication, systems that allow users to "hop securely from one site to another after signing on just once." Many attempts have been made, including Microsoft's Passport service, but none have caught on. It is interesting to see that there are new efforts, such as Shibboleth, which may one day help us avoid having to remember so many usernames and passwords to multiple sites.

Thursday, March 23, 2006

Charging for Seats vs. Rewarding with Seats

When traveling to London last week on Virgin Atlantic, I inquired about the availability of an exit row seat and was shocked to find out that there were actually several available (which is rare on a red-eye flight). Then came the news that these seats cost an additional $75. I joked with a co-worked that they'd start charging for window seats next. I was wrong - but not by much. NWA (the airline, not the rap group) announced that it will begin charging passengers for the right to sit in aisle seats.

I definitely understand that these seats are valuable, but I think that American Airlines' current approach is far smarter for the airline - they choose to reward their best customers (Executive Platinum and Platinum AAdvantage members) with the ability to reserve the exit row seats. Other passengers can only get these seats at the gate if they are left over.

Travel is already so expensive - why add the extra frustration of additional charges and have the seats taken up by anyone but your best (most profitable) customers?

If you have extra seats left over, is the extra $75 really worth it, assuming you even get it? Most of the seats on my Virgin flight remained empty and were simply taken by smart travelers who moved over.

Think about the value instead of (a) rewarding your best customers and/or (b) providing an unexpected perk to other customers with any remaining seats. Remember, there are many ways to reach the end result (increased profitability).

How you are you rewarding your best customers? Do you even know who they are?

Wednesday, March 22, 2006

Blink/Blank

A quotation that I find myself often sharing with clients recently (and one that I know Steven often mentions as well) is from Rick Nobles, who writes:

"A brand trying to appeal to everyone isn't a brand at all, just a watered-down commodity. And a commodity never attracts a raving fan -- it attracts indifference. In a crowded marketplace, indifference will kill you."

It is amazing how most firms (especially asset management firms) try to be all things to all people.

The writer Malcolm Gladwell, for example, isn't for everyone (which Gladwell touches on in his amusing Web site disclosure statement) and according to this guy, he looks like Sideshow Bob. Despite his detractors, both of his books have a ton of raving fans. For example, his most recent book, Blink: The Power of Thinking Without Thinking, is #20 in Book sales on Amazon.com and features almost 500 customer reviews. His unique (and I think extremely enjoyable) writing style has now inspired an extremely humorous knock-off, Blank: The Power of Not Actually Thinking at All, by Noah Tall (say it out loud and you'll get the author's name).

Do you have a unique enough brand that people are out there talking about you, your company, or your product (either positively or negatively)?

Tuesday, March 21, 2006

Apocalypse Pooh

This is not the deepest post I'll ever put out there, but I thought I'd share this movie on iFilm which is a 1987 mashup of Winnie the Pooh and Apocalypse Now. (there may be a short ad shown first, and the first 30 seconds are a bit slow, but then it is great if you know Apocalypse Now)

Just Say It

Dave at Communication Nation has a good post about the various responses that people have when frustrated at work. I love working with everyone at kasina, but even still, every now and then somebody does something that makes me mad. As Dave writes, most people do one of the following:

a) Lash out
b) Write a semi-polite, yet seething email
c) Vent
d) Go through the chain of command
e) Do nothing

Historically, I would typically do (a), (c), or (e). Over the past few months, however, I have been working on improving my responses and encouraging those around me (friends, co-workers, clients, etc.) to do the same as nothing positive comes out of these options. Instead, I have found that it is crucial to address issues directly and work through them. Dave puts forth a nice process in his post:

1. Take a minute. Cool down. Try to see how the affront could have been unintentional.

2. Pick up the phone, or walk over to the person's desk. If they're not there come back later. Whatever you do, don't send an email.

3. Tell them what you are concerned about. Don't assume or judge them! Most of the time people are not aware that they stepped over a line. If something really bothers you or is unacceptable, you can say this -- but say it in a calm tone of voice.

4. Ask them what you can do to ensure that such things don't happen in the future. That's right, what you can do.

5. Listen. You're opening the door to a conversation. You will find that you are often surprised. Being open to the other point of view can enlighten your understanding of the situation and maybe even help you see a larger system dynamic.

Friday, March 17, 2006

Microsoft-Originated iPod Box Parody Video

Sorry it has been so long since I've posted, but I was busy moving to my new apartment. Now that I am all settled, I'm hoping to post more regularly.

By now, you have probably seen the amusing video that shows what would happen if Microsoft redesigned the iPod packaging. Last week, I was pleasantly surprised to learn that Microsoft confirmed that it had created the video for use as an "internal-only video clip."

Microsoft's packaging team commissioned the video in order to "humorously highlight the challenges...[regarding] packaging and to educate marketers here about the pitfalls of packaging/branding."

This self-awareness of poor marketing is rare, and I am glad to see someone as bad at marketing as Microsoft poking fun at itself in order to improve. This self-examination is necessary across most Marketing teams, especially in the asset management world, where firms have yet to embrace modern marketing concepts, such as Word of Mouth marketing, Permission Marketing, etc. and waste money on traditional approaches that are destined to fail.