Analytics, Dictionary

Dictionary of Marketing Questions

Creating Content for Your Marketing Funnel

funnel and attributed marketing behavior

For each stage of the funnel, you’ll need to answer the following questions:

  • How will customers at this stage find me?
  • What kind of information do I need to provide to help them move from one stage to the next?
  • How will I know if they have moved from one stage to another?

Click to Learn More

In Awareness stage, keeping track of lead* analysis metrics (include program investment, percent of new names, total successes, total targets, investment per target, and average demographic score), answer the following three questions:

  1. Which programs bring in targets or leads most cost-effectively?
  2. Where are we exhausting our lists?
  3. Which programs are bringing in the highly qualified leads?

*”lead” in this context means “leading” as in “leading or lagging indicators” and not “lead”as in “lead nurturing”


Customer Response Models

  • Are you assessing customer response models for statistical as well as business validity?
  • Are you applying ““haircut method”?
    • A naïve application of an incrementality percentage derived from market-level models indiscriminately to all customer histories will bias attribution substantially. In these methodologies, highly effective digital marketing treatments will be penalized while ineffective ones will be favored. As a result, differentiation will be dampened and reallocation opportunities might be squandered.

Marketing Allocation

  • What econometric methods have you applied (as such log-log multi-regression models, Bayesian approaches, diffusion models) to identify causal relationshipsbetween outcome (e.g., consumer purchase funnel and sales) and marketing and other business drivers based on observed behaviors?
    • Traditional mix models, test/control experiments and judgmental attribution methods are not comprehensive enough to provide timely and credible answers to questions regarding marketing allocations, impact and trade-offs.
  • What were your hypotheses on the expectation of the direction of impact; the magnitude of the impact; and the lag between the cause and effect?
  • How did you identify and test the impact of intermediate outcomes (as organic search queries, own-site web traffic, online video viewing, social media exposure, brand awareness, etc) have on marketing tactics?
  • What control variables did you take into account?
    • To account for external factors that are impacting customers such as economy, competitive landscape, and seasonality

Statistical Analysis

General Statistics Questions

Today people have to deal with up to terabytes of data and have to make sense of it and glean the important patterns from it.  Statistics can help greatly in this process by helping to answer several important questions about your data:

  • What patterns are there in my database?
  • What is the chance that an event will occur?
  • Which patterns are significant?
  • What is a high level summary of the data that gives me some idea of what is contained in my database?

Click to Learn M0re

p-value

Besides p-value, what statistical test have you conducted to ensure your hypothesis is correct?

  • One of the most important messages is that the p-value cannot tell you if your hypothesis is correct. Instead, it’s the probability of your data given your hypothesis.
  • A common misconception among nonstatisticians is that p-values can tell you the probability that a result occurred by chance. This interpretation is dead wrong
  • Nor can a p-value tell you the size of an effect, the strength of the evidence or the importance of a result.

Click to Learn More

 

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Training

General Thoughts on the Nature of Business – Strategy of Preeminence

Below is a collection of quips, sayings, and advice on how to make an impact in your industry I got from a lecture. Below are my notes:

  • Customers do not know definitely what they want, because they are struggling. People that help them understand and acknowledge and articulate and take action and formulate a definitive and logical and compelling strategy normally get their trust.
  • Gravitate towards people who lead us, who are empathetically authoritative.
  • Everyone feels like they’re a commodity – they not distinctive – they have no purpose
  • The person who makes money is the person who helps another feel powerful.
    • Most people do not know what focus is until firms had it made for them.
    • Data dump does not work if they did not know what to do with it and why to do something
  • Task: give them a plan; help them take the next step; protect them; make that step logical/appropriate/obvious, and easy
    • Put into words what people want but could not articulate or get clarity
  • Then, and only then, build on that for them
    • Verbalize, articulate, and express feelings
  • Go it off your chest, got it verbalized
    • Secret to making business really exciting is to be in a passionate awareness and make a commitment to a higher purpose; the higher purpose is not your own enrichment
  • Instead, it is helping their lives be better, helping them be more fulfilled, helping them to get more out of a process or life, itself
  • Customer/client is the center of attention
    • Embrace your customers’ situation with hope and promise
  • Give your customers hope
    • Nurturous appreciation for them
  • Ask: how can we do what we’re doing for others better?
  • The best are never content doing it
    • Example
      • What did we do good and what didn’t we do?
      • What are we not contributing that we could do better?
      • What are we not drawing out of people that they want to give that we’re not helping them contribute?
      • What dynamics are we missing?
      • How can we improve this?
      • What did we learn from the last one that we can translate to this one or borrow or integrate?
    • Optimization is constant, never-ending improvement
  • What problems are we going to help our customers solve?
  • How can we have the most positive impact on the people we’re trying to sell to?
    • Like we are in their home and with them as friends, having a conversation with them, dedicated to giving them information, dedicated to motivating and providing them with the greatest benefit until we come into their home again
  • Their purpose as being – sharing this combined repository of definitive knowledge and defining and interoperating and directing them on what action that knowledge would seem to make sense to take
  • Greatest ads, sales letters, sales presentations are ones where people never say that was a great presentation – they say “wow, I never thought about it that way. That makes eminently good sense. I must do that”
  • People have to recognize your advice as a solution to a problem they feel emotionally as well as rationally
  • Provide them with the reassurance and the motivation to use that solution
    • People, clients, customers want very badly to feel good about themselves and the way they conducted their decisions
    • People take less action because they are afraid it won’t be right, they will have screwed up
  • My job is to acknowledge that reality of human nature
    • Compensate around it
    • Reassure them
    • Direct them
  • People will do more things to curtail making gains because they do not want to look foolish. They will work harder not to look foolish than they will work to gain ad advantage
    • People want to feel good about themselves and about the way they conduct their decisions
    • Interests, needs, desires, fears, hopes, emotional issue – all you can help them deal with -> great vista of opportunity
  • If you fail to value and acknowledge and respect the worth of what you have done, what you do, and how much more you will be doing for your clients – then it is shameful
  • Ads or presentation – demonstrate to people with logic and emotion why acting is so much more preferable to them than inaction, from their benefit standpoint, not yours. The promotion or sales approach has to answer a question that is already on the customer’s mind
  • People need to be told why you are going to do for them
  • People fall in love with their company instead of their customers
  • Your higher purpose has everything to do with you brining enhanced advantage, protection, benefit, richness of life or business to a client
  • A massive change will occur in your whole mind set when you conceive of your business as interacting and enhancing people and their lives
    • Change of mindset from “what do I have to say to get people to buy?” to “what do I have to give? What benefit do I have to render?
    • Be value contributor
  • The more value you render others, the more value you generate, not for yourself, but for your client
  • The focus of your concern should state to the client that they matter; that they well-being is important
    • Worse: feeling out of control, unstructured in their thinking
    • Best: clarify, unconfused them, give them control
  • See yourself as an agent of change, a creator of value, a value contributor
  • Most people do not want to see things as a process. Instead, they want to see things as a project – with definite start and end because it is easier for them to comprehend it
    • Break things down for people into simple steps
    • Little changes and shift make big difference
  • You owe it to yourself to get the most out of all of it and be in control and not be controlled
  • People need solutions, not strategy
    • Strategy skills are better than selling skills
    • In ads, if strategy is right, you can screw up and have certain missing elements, the ad will still work. But if the strategy is not right, no matter how good is your ad, it won’t sell
  • Have in mind the strategy to give you the greatest program and process you’ve ever experienced
    • Be concerned with your strategy, the whole concept, and being true and having integrity and commitment to that
    • VITAL: be more strategy and concept oriented than techniques oriented in your lives and in your business
  • Clients are looking for advocates for their well-being
  • People will always pursue their well-being in a logical, rational way, but they will make their decisions on an emotional bent
  • Always ask them and yourself, “isn’t there a better way they could be doing something?”
    • Example: want your clients to be heros
  • Most people do focus on tangible results, so you have to deal with specifics, not abstract generalities, but most of the great rewards aren’t tangible, so you have to deal with those too
  • If I do my job correctly for anyone, they end up evolving to the decision, thinking that some conclusion is their own. I give them the ammunition that allows them to make the conclusions for themselves
    • If I own it and lend it to you, it is NEVER going to be yours.
    • If you own it rather than me, it is much MORE powerful
  • You never want to draw the conclusion – you want them to take an action that makes a commitment. Your commitment to them will NEVER be as strong as their commitment to themselves
    • Your job is to help them want it for THEMSELVES
    • You empower them by turning on the energy and the power of their awareness by making it real and making them take ownership of it
    • Any claim you make, the client must agree with or they are going to discount it or shut off. Do not shove facts into people’s throats. It does not matter if you are right if the client refuses to acknowledge that you are right. Most do not want to be burdened with all the details
    • There is a price to pay on indulging yourself in being right – it lessens results, lessens connections, lessens profitability, and lessens success
  • You are in control – never controlled. Never have been. You just abdicated, excused yourself
  • Your job is to reduce hurdles for the customers. Talk about frustration and desires your clients really feel
  • Your client wants to feel like you worry about them and you care about them at a dimension far more meaningful than just through them to their treasury or their pocketbook or their bank card
  • Most competitors do not have customers – they think they own their customers with a chance to buy more
  • Most concepts are hard too difficult for most people to buy into – instead give them an example of how things work
    • Use should always try to use a reference frame metaphorically first before you try to explain anything to your clients
  • Most people do not really know what to do. If they did, they’d be doing it, wouldn’t they
    • Take an understating that your customers do not what to do, but they do not even know they do not know or, if they do know, they are ashamed and afraid to reveal it
    • Benevolently and nurturously and emphatically help them learn what is possible
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Analytics, Sales

Unique Selling Proposition Check List

The Big Why?

  • Do you have a clearly defined vision for your business?
  • Do you have buy-into your vision by (Check all that apply)
    • Your team
    • Your partners
    • Your suppliers

Creating USP

  • What industry are you in? (TIP: you are what you repeatedly do)
  • What’s in it for your customers to use your product or your service?
    • How does your customer describe your product?
    • How does your customer use your product?
  • What will encourage your potential customers to purchase your product or service?
  • List specific what makes your product/service unlike your competitors
  • If it is a class of its own, then do you compete on (check one):
    • Lowest price?
    • Doing something different than the competition or what the customers expects (Pick all that apply):
      • More or better
      • Extra services
    • Serve a well-defined small group?
    • Combination of the above
  • What is your competitor’s USP?
    • TIP: If there are different size companies, define the competitor’s general USP based on the size and their stage of development (start up, transition, or growth)
  • What is your complimentary firm’s USP?
  • What is your supplier’s USP?

USP Statement General Characteristics

  • Does it include a value that customers receive?
  • Is it less than 90 words?
  • Does it outline specific areas of differentiation?
  • Does it provide something to the unserved market?
  • Does it answer “what’s in it for customers AND prospects”?
  • Is it realistic that you can follow through on your promises to the customer?

Closing

  • Who owns your USP?
  • Who will revise your USP? How often?
  • How is your USP communicated to your team and suppliers?
  • How do your sale teams use of USP? How marketing materials use USP? How is your marketing aligns with sales vis-à-vis USP?
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Vince Lombardi
marketing, Uncategorized

Definition of Marketing

As legendary coach Lombardi pointed out, excellent (presumably being the best one can be) requires reinforcement and utmost ability to execute the fundamentals. Below are outline of the fundamental concepts of marketing. The key element of this blog is not to all-encompassing inventory of marketing terms but highlight of the simple concepts that we all use. With the new data and technology, the businesses realized that customer have not separate marketing from the product—it is the product.

 

Definition

The introduction and selling of your company’s products and services to past, present and prospective customers by first optimizing and leveraging all of your company’s marketing assets[i].

 Function of Marketing

Marketing is the company[ii].

 Non-Marketing Functions

All non-marketing functions of any business are subservient to marketing and innovation, paraphrasing Drucker. Analytics is tracking (including using description, predictive, and prescribed method) the firm’s hints of its relationship with past, present, or potential customer irregardless if purchase took place. [iii]

Marketing assets[iv]

Past customers, current customers, marque customer (ex, turning them into a celebrity), testimonials, salespeople, company’s advertising (ex logo, tag line), referral programs, current sales and marketing processes, location, reputation, time in business, relationships with other businesses, E-books, guides and handbooks, apps, studies, cheat sheet, videos, mix media posts, employees, suppliers, company’s culture, brochures, blogs, corporate website, social media sites, SEO.

Two phases of Marketing

There are two phases of marketing requiring different approaches. The first is getting attention in the marketplace of your offering. The channels of engagement include advertising, tradeshows, web marketing, direct mail, salespeople prospecting, etc. Real marketing begins when a prospect expresses interest in the product or service. They enter into the gravitational pull of the company. Just like in any team, the strength is measured by the weakest link. Most companies, at this stage, lose their customers because of the internal inefficiency to create, nurture, sustain, and elongate relationship.

How to Increase Sales or Profits

Anywhere and anyway, there are only three ways sales or profits can be achieved. There are no other ways

  1. Increase the number of prospective customers contacted or inquiring
  2. Increase the conversion rate of prospective customers to buying customers
  3. Increase the value of worth of each customer

USP

A succinct description of what you company can do better than anyone else[v].

 

 

[i] Dawn Marketer, March 1, 2016

[ii] See Peter Drucker, McKinsey Quarterly

[iii] There are three analytics concepts – data, information, knowledge. Data can never be wrong, information can, and knowledge is built upon the use of the other two. The reports, spreadsheets, databases, etc is information. As such, information is never conclusive, always has assumptions, and is limited. Analytics methods are means of finding hints in the data that a hypothesis is not wrong with current set of available information and knowledge.

[iv] Dawn Marketer, March 1, 2016, Eric Murphy, June 10, 2014, Stanford Smith, Inc Magazine

[v] USP can very within the company depending on the revenue source. A quick paper from Bain that explains why USP is still relevant in today’s crossover market. Although they do not use the words, they do state that the first step is create “propositions that take into account the product features, the brand and a customer’s experience with the company”

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niche
marketing

USP & How To Find Your Niche (Specialize)

Unique Selling Proposition (USP) first appeared as a theory in 1940’s. It was furthered by practitioner, Rosser Reeves, and professor, Theordore Levitt. In 1986’s The Marketing Imagination, Levitt wrote that search for “[t]he meaningful distinction is a central part of the marketing effort”. He proposed that everything else business does is a function of that distinction.

This blog will discuss how to measure the impact of your USP. I assume that a USP statement was created and, perhaps, started to execute on it. I will discuss the leading and lagging indicators that might help measure USP’s impact. After having measured USP, a company will be armed with the most powerful but fast-expiring component to success in business world – insight. I will show how you can use that insights to build a deeper presence in any marketplace by specializing using basic economic and strategic thinking.

Part I: Measuring USP

USP fills the gap between customer’s needs and firm’s offering (be it a product or service). It is a vital tool for any business to determine its place in the market. The USP identifies and attempts to fill the gap that is not served by the competition. To execute properly the USP, the managers need to unite all of the business’s processes together to help deliver on the promises enshrined in the proposition. Remember, what Gore Vidal (or Larry Ellison or Genghis Khan) said: “it is not enough to succeed, others must fail.” Armed with a powerful USP, a company needs to maintain its position. If you think of Southwest Airlines, Wal-Mart, and your local pizzeria, all of them are working toward executing on strategic factors that differentiates them from their substitutes. Southwest Airlines and Wal-Mart are “keeping cost down” while the local pizzeria emphasis convenience. Definition of a tool is “something that has practical function.” USP can only be useful if it offers practical and immediate action.

Remember the adage, “it is all course correction”. There is no USP that is right or always right. There is one that is appropriate for the customers’ current needs. If you have different strata of customers, for each there should be a USP. Using data to evaluate what is working and what isn’t is a very valuable management practice. We are going to collect quick and dirty qualitative and quantitative data.

There is a key difference between leading and lagging indicators. Lagging indicators are typically “output” oriented, easier to measure but harder to improve or influence. Leading indicators are typically input oriented, harder to measure and easier to influence. I look at the leading indicators as hints of the future events (tends to change ahead of the future event) while lagging are reports of the past activities.

Leading indicator

  1. Vision
  2. Customer Feedback[1]

Lagging Indicators

  1. Sales
  2. Competitor’s reaction

Leading Indicators

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Vision

What is the success of a start up? It is the clear vision for the company. The vision potency is measured how your team or partners accept the vision. Creating a want in the market and fulfill it is a long-term proposition achieved only after a momentum of demand for your product or service is achieved. Furthermore, it is likely that you only have secondary or indirect data on your market. The vision should be specific and well understood image of where managers are taking the company. Consistency is vital.

Feedback

customer-feedback-social-media-800x400There are three groups you should continually ask for feedback: your customers, your team, and your suppliers.

For your customers, find out up to 30 customers. Ask them specifically about your business. Ask them

  • Why do you do business with us?
  • Tell us about your favorite service experience you have in this industry?
  • What is the one thing none of your vendors do that you wish they would?
  • Is there a recent example where we have not met your expectations?[2]

This information will help you find a gap that you can fulfill but, remember, you can’t be all things to all people. Concentrate on the one thing at a time that is missing that will make easier or unnecessary.

For your team, employees and partners, ask them

  • What excites about the role when they started working? What is exciting them now?
  • What’s one thing the company does better than others?
  • What is one thing the company could do to create a better experience for the customers?

Often, your suppliers are overlooked partners for your company. Although not always eager or available, they have wealth of information and insights. Ask them

  • What would you Google to find a business like ours?[3]
  • Do you refer us to potential clients, and if so, why?
  • What other companies do you love to refer?

Lagging Indicators

Sales

Profit is the sign of sucAAEAAQAAAAAAAAOVAAAAJDBmMjJjZmJmLWVkMzctNDlkNS1iMmYyLTc2NTJiODY5M2ExNwcess in the private sector. Everything comes down to the revenue. Can you revenue sustain your vision and your expectations for the business? If market does not support your current version of USP, assumptions need to re-examined and experimentation should take place with different of channels delivery.

Competitor’s reaction

Your USP changes the dynamics of the competitive landscape. Or at least that is what you hope for. Before you entered the fray, there was equilibrium or certain way of doing that was settleconquestingd. You will have to analyze to see if your USP made a difference on your competitors’ marketing, product offerings, or pricing. Your USP is always under evolutionary process of change. It is always under threat from others. You will need to adjust it based on what your competitors do to stay relevant for your customer and their experience with your product.

You can take one more steps for a richer understanding of your market dynamics.

Part 2: How to Specialize Using USP

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The greatest asset that a company has is its customer profile. The essence of business is to have the most precise list of customers or leads. Why? Specialization. Specialization success comes from segmenting the roster of customers or leads who will purchase at higher rate (either price or volume) your offering. Specialization does not necessary arises from products or services. Think of Twitter. Its original target failed. Viagra was blood pressure pill. Specialization can only come from achieving comparative advantage in the market place by having the lowest opportunity cost. When it comes to specialization, the primary job of an entrepreneur, regardless of company’s stage of development, is to choose where to specialize the company, its processes, and its employees.

Taking the information from Part I, I would recommend using Reduce-Eliminate-Create-Raise framework developed by W. Chan Kim and Renée Mauborgne[4] to find specialization. To use this framework, seek only using specific actions for each quadrant. Two important elements will help you find competitive gap that you can fill.

First, Industry standard or best practices do not always apply to all markets. Sometimes competition sets its own standards that are not followed by the average of all the firms in a given industry. Furthermore, geographical and environmental factors (land, labor, capital, policy) determine their own micro-market dynamics. For example, Philadelphia, being 5th largest city in US, is not present in the Case-Shiller Housing Index.

Second, there are two types of comparative advantages[5] – absolute and relative. Whereas absolute advantage refers to the superior production capabilities of one company versus another, comparative advantage is based on the concept of opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to delivering your product or service. The opportunity cost of a given option is equal to the forfeited benefits that could have been gained by choosing the alternative. Remember, as an entrepreneur, you are looking to lower relative opportunity cost. One does not compare the monetary costs of production or even the resource costs (labor needed per unit of output) of production. Instead, one must compare the opportunity costs of producing goods across best practices/standards by both competitors and alternative markets[6].

Now, putting it all together, when utilizing the Reduce-Eliminate-Create-Raise quadrants, you need to decide what specific actions will reduce your opportunity cost. I would include both competitors and complimentary or alternative companies. Today’s creative destruction is in hypermode of reducing perceived barriers between industry and its suppliers. For example, HTC used be just a provider of parts to iPhone. Currently, it is producing its own phones.

To fill the quadrants

  • What specific actions do you need to reduce below competition and/or industry standard?
  • Which action do you need to eliminate that your competition and/or industry competes on?
  • What specific factors do you need to rise above the average offered?
  • What do you need to create that your industry or competition never saw?

The Four Quadrants

After this exercise, you will have much more clear understanding if your USP is meeting the needs of your customers. The framework will also help you understand what specialization capacities your company needs to develop to achieve and sustain competitive advantage. The focus on the production of those goods or service for which a firm’s resources are best suited is called specialization. Given limited resources, managers’ choice to specialize in the production of a particular good is also largely influenced by its comparative advantage.

Closing

Your company is an important extension of your vision for this world. The gap that it fulfils is enshrined in your USP. Continually studying and researching your USP and its impact on all the players, ensures the future for your vision and higher revenue.

 

References

[1] https://rmsbunkerblog.wordpress.com/2015/12/02/how-to-measure-unique-selling-proposition-usp/

[2] http://www.inc.com/tom-searcy/5-great-questions-ceos-ask-customers.html

[3] http://www.ducttapemarketing.com/blog/5-questions-you-should-ask-every-customer/

[4] https://www.blueoceanstrategy.com/tools/

[5] http://www.investopedia.com/ask/answers/033115/what-difference-between-comparative-advantage-and-absolute-advantage.asp#ixzz3zKtPQi9R

[6] https://en.wikipedia.org/wiki/Comparative_advantage

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Analytics

Activity, Output, and Outcome: What Is the Difference?

Measuring progress is not a way to find criticism or define business success. Business success is realization of the vision for your customers through your business. Any measuring framework is designed to advise on the health of the actions, processes, and the overall business. It is not the cure or medication. For example in healthcare industry, all of the modern technology is geared to produce the same result that doctors in prior centuries did – prescribed the right drug so the patient lives and/or has a better quality of life. Measuring anything is to find if your hypothesis on realizing the vision is on track or needs modifications. Execution is the medicine but it has to prescribed correctly.

Activity & Output

When measuring, just like in writing a resume, you should concentrate on the outcomes not activity or output. Concentrate on the outcomes you really want. The classic business thought is “activities are basic units of competitive advantage. Overall advantage or disadvantage results from all company’s activities, not only a few” (Michael Porter, Harvard Business Review, Nov-Dec 1996, Website). Analysis paralysis could set in if a business owner creates KPIs for every activity. As my coach told me, any measurement should be a few but distinct. I should not use measures like a drunk men using lamp post – for support not illumination. Here is an example of improper measurements from Anthony Iannarino (thesalesblog.com, 2012, Website) :

Sales managers should have no interest in requiring or measuring the number of cold calls a salesperson makes. It’s irrelevant. The measurement of calls is only useful in determining whether a new salesperson has an efficiency problem (like too little activity) or an effectiveness problem (like the need for more training). But beyond that, the raw number of calls tells you nothing about how the salesperson is doing. The calls are activity, not outcomes. A salesperson can succeed at making the number of required calls and still not succeed in their job.

As a leader, you should also look for the distinction between output and outcomes. Outcomes are the difference made by the outputs (Deborah Mills-Scofield, HBR.com, 2012, Website). Output includes revenue and profit. I would classify the unique selling proposition as an output. Every business should be judged not by its answers but by its question. The output or “the what” of firm should be seen in the context of “the big WHY” – the relationships and the consistent user experience maintained over time.

Outcome

Outcome measures the change that has occurred as the result of your product or service. The underlying assumption of all marketing strategy is the willingness of consumer to pay for the goods. From my experience, a customer need to build a sense of safety with a product or information before they can have trust in the company. Below is a list of suggested questions you should be able to answer with your outcome

  • Are the outcomes related to the “core business” of your organization or program?
  • Is it within your control to influence these outcomes?
  • Are your outcomes realistic and attainable? Are your outcomes achievable within funding and reporting periods?
  • Have you moved beyond client satisfaction in your outcomes?
  • Is there a logical sequence among your short-term, intermediate, and long-term outcomes?
  • Are there any big “leaps” in your outcomes, i.e., gaps in the progression of impacts?

(Strengtheningnonprofits)

Generally speaking, there are five different types of outcome you can adopt – financial (for the clients), behavioral, attitudinal (ex. Express delight with the new product), technical (ex. faster page load), and experiential (ex. customers receive more consistent and accurate information when they need it) (inspired from Jill Purse, ThoughtFarmer, 2014, Website).

Review of Definitions

  • Activity – Any activity that is engaged in for the primary purpose of making a profit.
    • Note: Managing activity is a morale killer (Jim Keenan, asalesguy.com, 2012, Website)
  • Output – The direct and measurable products of a program’s activities or services, often expressed in terms of units (hours, number of people or completed actions); typically designated as the accomplishment or product of the activity (University of Wisconsin-Extention)); enables business to find outcomes: important products, services, profits, and revenues.
  • Outcome – Create meanings, relationships; answers, “What difference does output/activity make?”; user experience.
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Uncategorized

Notes on Resume

Resume is the vital ingredient for your success. Below are my notes on the key

  • What is the purpose of resume?
    • Your resume is a career marketing tool, not an autobiography.
    • Focused on your key selling points
    • Every word in the resume should sell your credentials and value to a potential employer.
    • Resume not only speaks to your past accomplishments, but it also acts as a predictor of your future capabilities.
    • Keep them in mind when deciding how much you need to change your resume to make it work for your profile.
  • Branding Statement
    • It is a statement that communicates who you are in the workplace.
      • It reflects your professional reputation
      • Showing an employer that you have goal
    • Using a profile summary or career summary is gradually fading away.
      • Instead, replace it with a branding snapshot or profile snapshot. Write the newsworthy information in short, impactful statements or with as few words as possible so they can get the facts immediately.
    • Personal branding isn’t just about the words you use; it’s also communicated visually through word pictures and images.
    • Example
      • COMMUNITY AFFAIRS MANAGER with 10 years of experience visualizing, developing, and organizing company wide philanthropic events, maintaining connections with hundreds of nonprofit organizations, coordinating diverse employee volunteer opportunities, and creating dynamic external and internal event communications.
        • Why is it successful? It gives a snapshot of your history in the field while providing branding attributes that describe what makes you successful. Also, it gives examples of previous accomplishments that offer insight into how you can help an employer succeed.
      • Career Objectives
        • The first step to creating a high-impact resume is determining what you’re trying to accomplish. With a clearly defined career objective, you can write a resume that conveys the experience, skills and training that best serve your overall professional aspirations.
        • The majority of job seekers may incorporate their career goals into a Qualifications Summary instead.
        • If you are on a steady career track, incorporating your objective into a summary sends the message “this is who I am,” rather than “this is who I’d like to be when I grow up.”
        • Give employers something specific and, more importantly, something that focuses on their needs as well as your own.
          • Career changers and entry-level workers should consider incorporating their objectives into their resumes, because their goals may not be clearly defined by their work history alone.
          • If you’re targeting a particular position, add a formal objective statement and reference the job opening. The hiring manager will see you took time to customize your resume and that the opportunity is important to you.
            • Example: “A challenging entry-level marketing position that allows me to contribute my skills and experience in fund-raising for nonprofits.”
            • For career changers: Accomplished administrator seeking to leverage extensive background in personnel management, recruitment, employee relations and benefits administration in an entry-level human resources position. Extremely motivated for career change goal and eager to contribute to a company’s HR division.
            • Entry-level workers: Dedicated CIS graduate pursuing a help-desk position.
            • When targeting a specific position: Elementary teacher for ABC School District.
          • The second step, focus on how you would benefit the employer, not on how the employer would benefit you.
            • Stay away from resume objectives that state your working preferences, such as “seeking a team-oriented environment that fosters professional development.”
            • Don’t be vague
            • Keep it concise and targeted.
              • Hiring managers often sort through hundreds to thousands of resumes to fill one job opening.
              • Make it easy on them by keeping your objective short and to the point.
                • The best resume objectives contain a desired job title or target
              • Specifics
                • Put the most important information at the top of the first page.
                • With decreasing attention spans, writing tweet-sized resume sentences is a right-on-time strategy.
                • Lack of Specific
                  • Example: “Recruited, hired, trained and supervised more than 20 employees in a restaurant with $2 million in annual sales”
                    • Both of these phrases could describe the same person, but the details and specifics in example will more likely grab an employer’s attention.
                  • Accomplishments
                    • Definition: how you contributed to your employer, or it’s an achievement that reflects the kind of worker you are. The most convincing accomplishments are measurable.
                    • Employers look for achievers, candidates who go above and beyond their job duties.
                    • Write the newsworthy information in short, impactful statements or with as few words as possible so they can get the facts immediately.
                      • Share a challenge/situation/problem, the action you took to address it, and the result. Write the result by sharing how it positively impacted your employer or client.
                    • Attempting the “One–size–fits–all” approach
                      • Whenever you try to develop a one-size-fits-all resume to send to all employers, you almost always end up with something employers will toss in the recycle bin. Employers want you to write a resume specifically for them. They expect you to clearly show how and why you fit the position in a specific organization.
                    • How long should my resume be?
                      • A resume should be long enough to entice hiring managers to call you for job interviews.
                      • It’s not just what you say but how few words you use to say it
                      • Create brief sentences that communicate key accomplishments, your branding statement, and critical information you don’t want the employer to miss.
                      • Use a one-page resume if:
                        • You have less than 10 years of experience.
                        • You’re pursuing a radical career change, and your experience isn’t relevant to your new goal.
                        • You’ve held one or two positions with one employer.
                      • Use a two-page resume if:
                        • You have 10 or more years of experience related to your goal.
                        • Your field requires technical or engineering skills, and you need space to list and prove your technical knowledge.
                        • On the second page, include a page number and your name and contact information.
                      • Visually Attractive
                        • If you want your resume to have a good chance of being read by prospective employers, you must invest time and energy not only in its content, but also in its look
                        • Allow for quickly scan the document, because it makes good use of white space, features clear and consistent section headings and uses bullets to make important items stand out.
                        • General Tips
                          • Stick with two fonts at most
                          • Use white space
                          • One-inch margins
                          • Leave some blank space between various sections of the resume
                          • Avoid underlying
                          • Many resume writers may bold their previous job titles and italicize subheadings within each section of the document.
                          • Bullets make it easier for employers to scan your resume quickly
                          • Be Consistent

 

Exercises

  • Personal Branding Statement Writing
    • Write down your vision. Think about what it is that can help you create the broad umbrella encompassing all of the specific goals your branding statement will incorporate. Examples:
      • Do you want people to communicate better with one another?
      • Do you hope to expand the breadth of our already-expansive technology?
    • Branding statement is all about showing an employer that you have goals
      • What are your career goals?
      • How do you want to make a difference?
      • Write down what you’d like to achieve—along with those skills you possess that can help you attain your goals.
    • Recognize your brand attributes, then apply them to your professional history.
      • To identify your attributes, come up with at least three nouns to describe yourself as a professional.
      • Are you a great communicator, leader, visionary, or organizer? Then drum up three sentences that round out your professional history in relation to those attributes (e.g. I have 15 years of experience leading groups through philanthropic efforts).
    • After completing these goals, you’ll have enough information to create a truly outstanding branding statement that not only gives an employer confidence in your ability to succeed but boosts your own confidence as a top professional.
      • Measure your branding statement success, can it answer
        • Recruiter’s/Hiring Manager’s “Why should I care?” or “What’s in it for me?”
      • Personal Branding Color
        • What is your personal brand color?
        • Accomplishment Exercises
          • Set a timer for five minutes, and start jotting down your accomplishments for your most recent position. Write down any accomplishment, contribution or achievement that comes to mind, even if it seems insignificant. Complete this exercise for each position on your resume. To help jog your memory, here are questions to ask yourself:
            • Did you receive praise, recognition or pats on the back from your supervisor or colleagues? For what (e.g., completing projects ahead of deadline, calming down irate customers, saving money)?
            • Did you receive a promotion, award or commendations from customers/clients?
            • Were you selected for special projects, committees or task forces?
            • Name three accomplishments that make you proud. Did you complete a particularly challenging assignment? Participate in a solution that improved customer service, enhanced efficiency, saved money/time or increased revenues?
            • Are you known throughout your department/company for something?
            • If you quit your job, what would everybody say about your work at your good-bye party?
          • Complete this brainstorming exercise, turn your accomplishments into high-impact statements. Lead with the result, outcome or benefit to your employer
          • Master Editor
            • Write a detailed version of your resume once that includes everything you think is relevant to the opportunity.
            • Then go back and remove everything that is not essential.
            • Once you’ve done that, go back and cut out everything that is not critical.
            • When you write your resume ask yourself:
              • “Is this critical to my story or what I’m trying to convey to the employer?”
              • If it isn’t, take it out of the resume.
            • Save the discarded content in a master file so you have it if you decide later you really do need it.

 


 

Source:

Monster Worldwide:

Jessica Holbrook Hernandez,

Robert Hellmann

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