MarketingMuses

Five Minds for Technology Marketing Professionals

Howard Gardner, Hobbs Professor of Cognition and Education at the Harvard Graduate School of Education, is a psychologist and author known for his theory of multiple intelligences. Application of his theory, especially for education, has been controversial. But I think his latest book, Five Minds for the Future, is a must read for technology marketing professionals.

His thesis is that, “…vast changes that include accelerating globalization, mounting quantities of information, the growing hegemony of science and technology, and the clash of civilizations,” requires, “capabilities that, until now, have been mere options.” He describes “Five Minds,” or cognitive abilities that will command a premium in the years ahead:

1. The Disciplinary Mind — the mastery of major schools of thought (including science, mathematics, and history) and of at least one professional craft.

2. The Synthesizing Mind — the ability to integrate ideas from different disciplines or spheres into a coherent whole and to communicate that integration to others.

3. The Creating Mind — the capacity to uncover and clarify new problems, questions and phenomena.

4. The Respectful Mind — awareness of and appreciation for differences among human beings and human groups.

5. The Ethical Mind — fulfillment of one's responsibilities as a worker and as a citizen.

While the book is not directed specifically at technology professionals, I found much of what he said echoed characteristics of the most effective people I know: deep domain expertise, intellectual curiosity, creativity, global perspective, knowledge of and respect for diverse cultures, and teamwork.

It is and will continue to be possible for anyone with a few of these characteristics to succeed in technology marketing, but I believe those who excel and assume positions of leadership will exhibit all of these abilities.

Metrics that Matter: Market Share and Dynamics

If you don’t measure your marketing performance, you can’t improve it.

Marketing metrics are measurements of trends, dynamics and characteristics that can help you focus on more rewarding market opportunities, allocate resources appropriately, and determine the effectiveness of your strategies and tactics.

Market share is the percentage of your company’s sales (in units or revenue) divided by the total sales within a specific market. Its value is apparent when viewed in the context of market dynamics such as market share growth (or decline), market growth (or decline), and relative market share.

Take a market share of 30%. Is this good or bad? It depends. If last year’s market share was 25%, it’s probably good. But if it was 35%, it’s probably bad.

What about next year’s sales forecast of 15% growth? Whether it's good or bad depends on market growth. At 20% market growth, 15% sales growth means you’re losing market share. That’s a problem. 15% growth means you're just holding your own. This may be acceptable in the short-term, but not in the long run. And while 15% sales growth in a market growing by 10% will increase your market share, it means that 33% of your growth depends on capturing competitive market share. This is usually more difficult to achieve than simply matching market growth.

Relative market share is a measure of your company’s market share as opposed to that of your largest competitor. Some studies suggest that companies with high relative market share tend to be more profitable than their competitors. So a 30% market share is good if your largest competitor’s is 15%, but not very good if it’s 50%.

Relative market share and market growth rate are key variables in determining competitive strength and in allocating resources within a company’s business units or product lines. The BCG Matrix developed by the Boston Consulting Group is one of the more popular analytical tools for this purpose.

Synergy is a Hideous Word

Marshall Goldsmith, in his book ‘What Got You Here Won’t Get You There,’ describes Barry Diller, the chairman of IAC/InterActiveCorp, responding to a Harvard Business School student’s comment about the lack of synergy in IAC’s various online businesses. “Don’t ever use that word synergy. It’s a hideous word,” Diller said. “The only thing that works is natural law.”

Mr. Goldsmith agrees, and says, “You can’t force people to work together. You can’t mandate synergy.” He adds that people will do something, “…only if it can be demonstrated that doing so is in their own best interests as defined by their own values.” And that people’s self interest, “…usually boils down to four items: money, power, status, and popularity.”

Synergy is often cited as an expected benefit of restructurings and acquisitions. I served as director of corporate marketing in a Fortune 100 division that restructured from independent business units to a matrix organization, and I’ve worked as a consultant to integrate the marketing operations of several acquired companies. Only one method has consistently worked for me:

Learn the self-interests of people who are essential to organizational change, and convince them that helping achieve it will contribute to their personal success.