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Choosing Between a Product-Based Approach and a Project-Based Approach

Are you torn between adopting a product-based approach or a project-based approach? Understanding the key differences between these two approaches can help you make an informed decision. In this blog post, we’ll explore the distinctions in terms of impact, scalability, sustainability, efficiency, and effectiveness. Let’s dive in!

When it comes to achieving goals and driving success, organizations often have to choose between a product-based approach and a project-based approach. Each approach offers its own advantages and considerations. Let’s examine the key differences between the two.

Impact:

The product-based approach is focused on creating a product with a long-term impact. This means that the product, once developed, can provide value to users or customers over an extended period. On the other hand, the project-based approach is centered around achieving specific goals within a limited time frame. The impact of a project-based approach is tied to the successful completion of those goals.

Scalability:

One of the strengths of the product-based approach lies in its scalability. Once a product is developed, it can be sold or used by many people simultaneously, allowing for wider reach and potential growth. Conversely, the impact of a project-based approach is often limited to the specific goals it aims to accomplish. Scaling up the impact requires initiating new projects or initiatives.

Sustainability:

Sustainability refers to the ability to maintain or continue providing value over time. In this regard, the product-based approach shines. A well-designed product can continue to offer benefits, generate revenue, or serve its purpose over an extended period. On the other hand, the impact of a project-based approach typically ends when the project is completed or the goals are achieved.

Efficiency:

Efficiency is a crucial consideration for any organization. The product-based approach can be more efficient in the long run because once the product is developed, it can be utilized repeatedly without significant additional efforts. In contrast, the project-based approach can be more efficient in the short term, focusing on achieving specific goals quickly and moving on to the next project.

Effectiveness:

The product- and project-based approaches can be effective, depending on the context and goals. The product-based approach is effective in achieving long-term goals and creating sustained impact. On the other hand, the project-based approach excels in accomplishing specific, short-term objectives and milestones.

To summarise, the choice between a product-based approach and a project-based approach depends on various factors, such as the nature of the goals, available resources, and the desired timeline. Organizations should carefully evaluate these factors to determine which approach aligns best with their objectives. By understanding the distinctions in impact, scalability, sustainability, efficiency, and effectiveness, you can make an informed decision that drives success.

Keywords: product-based approach, project-based approach, impact, scalability, sustainability, efficiency, effectiveness

Hashtags: #productbasedapproach #projectbasedapproach #impact #scalability #sustainability #efficiency #effectiveness

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5 things you did not know about podcast and employee engagement (and Artificial Intelligence) #AI

Introduction

Podcasts are one of the most popular forms of audio content in today’s world. Podcasts are an excellent way to promote your brand, product, or service for free. They can also be used as a lead generation tool and a recruiting tool for your business. The good news is that there are many things you did not know about podcasts and employee engagement!

Podcasts are the modern way to motivate employees

Podcasts are a great way to keep employees informed.

Podcasts are a great way to keep employees engaged.

Podcasts can be used as an employee survey, but they can also be used in an employee engagement program or even as part of your annual review process!

Podcasts help your organization align around mission and values

Podcasts can be a great way to align around mission and values.

Mission: Podcasts are an excellent way of communicating the overall mission or purpose of your organization, as well as its vision for the future. This is especially important if you’re looking at a new product line or initiative, because it will allow everyone involved in bringing it about (employees, investors) to understand where they fit into the bigger picture.

Values: You’ll also want to make sure that everyone understands what makes your company special—and not just by sharing core values like “Our focus on customer service” or “We believe in giving back.” If there’s a more specific statement about how those things apply in real life (e.g., “We’re here for our customers 24/7”), then go ahead and write it down!

Podcasts hold leaders accountable for company culture

Podcasts are a great way to hold leaders accountable for company culture. They can be used for many things, including:

Showing leadership and the company’s values

Demonstrating your mission as well as how it relates to customers

Ensuring that everyone in the organization knows what’s expected of them

Podcasts let everyone feel like they’re in on something special.

You can use them to create an intimate experience with your employees, customers and fans. The best part about podcasts is that they’re easy to make—you just need some video equipment!

Podcast content takes many forms: tutorials, interviews with industry leaders in your field or topic area, and Q&A sessions where you answer questions from viewers who have submitted them via email or social media channels (like Twitter). It doesn’t matter what kind of content you create; all that matters is making something valuable for those who consume it.

Anyone can make a podcast with just a phone.

Podcasts are simple to make, and most people can easily listen to them on their phone or computer. If you have the right software, you can even make a podcast using your tablet!

You might be wondering how this works. Well, it’s actually pretty simple: just record yourself talking into your microphone (or headset) while holding up a piece of paper with your script written on it in big letters. Then save the file as an MP3 file and upload it to one of those services like SoundCloud where people share audio files online for others to listen too!

Your organization doesn’t need to be an expert at media production to make a great podcast.

Podcasts can be made with a phone and sharing them is easy, so you don’t have to be an expert in video editing or audio production.

Anyone can make a podcast because it doesn’t require special equipment or knowledge of any particular field like video editing does.

Podcasts are an excellent way for your organization or business to share expertise with the public and grow its reputation as an authority in its field by putting their best foot forward through podcasts!

Conclusion

Podcasts are a great way to keep your team engaged, informed and united behind a common mission. We hope this article has given you some inspiration for creating your own!

PS: This entire content for this article is created by @copy.ai. What an amazing tool. I just added a few keywords and wow! Here is what it is.
The associated images (2) - top and bottom are created by another AI tool https://creator.nightcafe.studio
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12 Steps to Run a Social Media Contest That Converts like Crazy [Infographics]

Running a social media contest is a fantastic opportunity to amplify your brand, products, and services. With organic reach on the decline, social media contests are one of the few effective ways to boost your brand online with a minimal promotional budget.

Contests can consist of a simple giveaway from a small brand or full-blown campaigns that create an avalanche of media buzz.

  1. Decide on a contest owner
  2. Set your goals and budget
  3. Choose your prizes and an exciting hook
  4. Build your contest, define contest rules
  5. Determine jury, jury evaluation sheets
  6. Create a promotion and engagement plan
  7. Choose contest entry structure and social networks
  8. Determine the length and frequency of your contest
  9. Test and publish your contest
  10. Use e-mail autoresponders to contact, all entrants
  11. Convert
  12. Analyse, reflect, learn, repeat

When you target prospective participants and actively engage with your entrants, the real winner of the contest will be your brand.

Decide on a contest owner Set your goals and budget Choose your prizes and an exciting hook Build your contest, define contest rules Determine jury, jury evaluation sheets Create a promotion and engagement plan Choose contest entry structure and social networks Determine the length and frequency of your contest Test and publish your contest Use e-mail autoresponders to contact, all entrants Convert Analyse, reflect, learn, repeat
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2020 Marketing – This or That

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Part 2 – Marketing in the times of Corona [Thought Leadership and PR]

PR and Thought Leadership_CoronaTimes

What #Marketing, #Sales, #BusinessDevelopment and #ChannelManagement teams can do in the times of #Corona #Lockout #Quarantine
(Part 2 of n – This is the first in the multi-part series on how business can thrive in these times)

In my earlier post on LinkedIn and ZMOTly, – Carpe Diem – Marketing in the times of Corona – I had shared how these times provide an extraordinary opportunity for marketing to lead the industry. Only the innovators with innovative marketing organisations will survive. The rest will perish and fall by; I spoke about 3 points earlier.

[1] Reset and recalibrate the internal marketing
[2] Reach out to currently engaged prospects
[3] CRM, Database clean up, and customer segmentation.
Here are the next three –

[4] Engage Senior Leadership Team in Marketing

As is usually the case in many organisations, there is an acute misalignment between the marketing team and various business units about the understanding of marketing and expectations from it.

  1. Alignment with Marketing: If you are a Senior Leadership Team member (SLT) or a CMO, this is an ideal time for you to rally the resources and brainpower within the company towards marketing. Your SLT will be, in all probability, be not ‘travelling’ though they are OOF 😊. They will, in all likelihood, be locked up at home with abundant energy and less busy than their usual selves. You use this opportunity to brief your SLT about the company’s marketing objectives and strategies. You can seek participative inputs from the leadership and seek specific feedback or buy-in. Your marketing team can gain insights into various business units and their challenges. That can help you to craft better marketing strategies. What more, you may even crawl some budget from different business units if you provide value.
  2. Management Team as Ambassadors: You can leverage SLT as social media influencers. You may educate some of them on the powers of Social Media and have a streamlined approach to social media. Your SLT is one of the best brand ambassadors inside and outside the company. Leverage them and their networks for writing blogs, social posts on LinkedIn, Instagram or Facebook. That will amplify your company’s brand presence.

[5] Extend your online education for Free–

The magnitude and pace of disruption because of this pandemic is “unparalleled.” It has also opened immense possibilities for students (adults and children alike) to adopt remote learning. The physical classrooms have closed. There is massive adoption of online education through zoom sessions and the likes.

As a savvy marketer, you should seize the moment. You must ‘be there as this massive tectonic shift in learning paradigms are happening across the world. If you have online courses (non-confidential and value-led) built internally, they can be excellent ammunition today. You can use them and make a loyal following for your solution, product or industry; Some examples may be – Artificial Intelligence, Effective Delegation, Crucial Conversations, Financial Management, or Building Operational Excellence.

High-quality training content is of tremendous value to the receiver. As a marketer, you may not want to miss the opportunity to add value to society by enriching your lives. Marketing plays a vital role in building an emotional connection with the audience – your future customers, partners, vendors, influencers, or employees.

My suggestion would be to open it up to the audience for FREE and take the lead in your industry; Digital learning improves access and reduces the cost of continued education, and you would have been an innovator on that front in your industry and your customers and prospects.

[6] Organise Community Outreach and Seek and share personal stories

Your organisation or some individuals in your organisation are probably doing commendable work and community outreach.

If you are not, it is an excellent time to encourage doing such work by your teams and individuals. As a marketer, it is right down your sleeve to give wings to such an effort and gain internal and external recognition for such work. Share such work via your social media channels with pictures and videos. Do branding around such work. Get your PR engines to go full steam. Don’t worry – you can do this shamelessly. After all, that is the industry norm for successful companies and ‘philanthropists.’ All this would help you score better on your glass door raking and boost your brand significantly.

Let me know your thoughts, and I shall continue to build on these on my next posts in the series. You can also reach out to zmotly@futureshift.com.sg, and I will be glad if I can be of help

/Rajesh

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Marketing in the times of Corona

CarpeDiemMarketing_1

Carpe Diem!

What #Marketing, #Sales, #BusinessDevelopment and #ChannelManagement teams can do in the times of #Corona

(Part 1 of n – This is the first in the multi-part series on how business can thrive in these times)

With COVID-19, the world is passing through extraordinary times. Companies require super-extraordinary approaches to survive and thrive in such situations. In this multi-part series, I will address what an organisation can do to lead the industry and leave the competition far behind.

Businesses will be restored to normalcy in due course; only the innovators with innovative marketing organisations will survive. The rest will perish and fall by the end of this pandemic. What remains hence is the impact that you have created in the coming weeks and months. Towards that goal, we will see and share a few tips in marketing and business development.

With the partial to a near-total shutdown of businesses worldwide, the domestic and global companies are facing a watershed moment. Their inbound marketing leads and enquiries have dried up. The social distancing norms constrain the sales team and outbound team. Many businesses are working from home. Revenues are barely trickling in.

Yet, this provides one of the perfect opportunities for a savvy marketer. Here are a few things that you can do –

[1] Reset and recalibrate the internal marketing

Lockouts and quarantine times, such as this is an ideal time to set the internal house to order. The marketing team can now experiment with things that you always wanted to do but never found adequate time. Some of the areas could be

  • Create ‘stock’ content like blogs, white paper, case studies
  • Revisit the calendar for ‘flow’ content like posting blogs and social media.

[2] Reach out to currently engaged prospects

Today is an excellent opportunity to reach out to prospects and customers that are engaged with you presently. The trick is reaching out to them, ‘not with a sales pitch but with ‘hacks’ or ‘tips and tricks. Such a sharing of high-value content that truly eases their lives can add tremendous value to their businesses and organisations. Your customers have all the time in the world now, and you can even reach out to them with web sessions like Zoom or Facebook / Instagram Live. Here are some examples of topics that you can use –

  • Everything you need to know about X.
  • Why most Y strategies today are destined to fail.
  • Three steps by that Y can do to stop Z
  • COVID-19 – How X can change the future of Y.

[3] CRM, Database clean up, and customer segmentation.

One of the vital things a sales team (and the marketing organisation) must have is a well-segmented target audience. It would be best if you used this time to look at the database of current opportunities in your CRM system. If you have not updated the customer database/ CRM, use this time to reach out to sales teams to update the CRM. You can then segment / re-segment the prospect and customer data. You may want to customer lists into categories or based on the sales cycle or with tags that your company is comfortable with. You would need to have a specific plan of engagement for each type.

Let me know your thoughts, and I shall continue to build on these on my next posts in the series. You can also reach out to zmotly@futureshift.com.sg, and I will be glad if I can be of help /Rajesh

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What a simple pencil sharpener can teach you about big ‘I’ Innovation vs. small ‘i’ Innovation

What a simple pencil sharpener can teach you about big ‘I’ Innovation vs. small ‘i’ Innovation
What a simple pencil sharpener can teach you about big ‘I’ Innovation vs. small ‘i’ Innovation

As a parent, with young children, while I go around doing routine stuff, I usually keep a watch on how small and subtle changes are happening in the world of stationery – of pencils, erasers, pencil sharpeners, rulers, glue sticks, and such mundane stuff. I am childlike when getting hold of these things and often stumped with subtle innovations that are happening in the industry.

#Innovation happens at multiple levels. There are the big ‘I’ innovations that happen once in a while that make headlines and get some multi-million-dollar funding, and the world talks about them to no end. Then there are millions of small ‘i’ innovations that go under the radar, many of which we use and yet one talks about them.

Unlike big Innovations, small innovations happen daily and impact life significantly and make life easier its own small little ways. We seldom discuss them, and in many situations, we do not even observe that innovation, let alone acknowledge or amplify that innovation. Small innovations are under the radar, but I believe, when put together daily, they impact the quality of life and save us time and money significantly.

Here is one such innovation – on a pencil sharpener. As a child and over the last 40 years, we have experienced this is the situation, thousands of times, yes, thousands of times While sharpening a pencil the lead gets stuck at the far end of the sharpener. I have personally spent, and I am sure if you are someone like me who is a millennial generation, we have spent countless minutes,  time trying to use a sharp instrument to pull out the stick lead. If it happens to be a color pencil, the lead is so soft that it gets stuck far more and it is much more difficult to retrieve.

Now, imagine this innovation (in the picture attached). There is a small opening at the far end for the broken lead fall away. A circular design, a little ide than the size of the lead that lets the broken lead automatically fall off. This, I believe, is a phenomenal small ‘I’ innovation.

There is a small opening at the far end for the broken lead fall away. A circular design, a little ide than the size of the lead that lets the broken lead automatically fall off. This, I believe, is a phenomenal small ‘I’ innovation.
There is a small opening at the far end for the broken lead fall away. A circular design, a little ide than the size of the lead that lets the broken lead automatically fall off. This, I believe, is a phenomenal small ‘I’ innovation.

Now about the business value and thus money that could be made by the innovator – Even if the innovator or the product marketer charges ₹2 (or 20c) extra per sharpener vs. ₹5 (or 50c) otherwise, the innovator would be amply rewarded. This does not happen in real life. That small innovator is not able to market that innovation, let alone price it at a premium. The user, on the other end, is unable to comprehend the significant value that innovation brings to them. Imagine, in this case, that extra minute the user has in trying to remove the stuck lead and that would have at least happened 100 times a month. That is a good 2 hour extra for just ₹2 (or 20c).

What are your thoughts?

What do you think about small innovations versus big innovations?

Is there merit in small innovations? How can they be monetized?

Are there any small innovations that you think have gone unnoticed?

Please share in the comments section. I would like to hear from you.

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5 Steps to Scaling your Startup – An open letter to entrepreneurs

Dear Entrepreneur:

Starting a business is easy. It requires courage. It requires an idea. It requires passion and commitment. You are one of the very few in this world who has taken that critical step.

You are even willing to make sacrifices and commit to hard work. Your next goal is to make your all this count. To make the business successful. To do that you have to scale and scale sustainably.

How would you do that? At Futureshift, our ZMOTly framework helps you to achieve your goal with a structured way to scale your business. Towards that end, our clients love this ZMOT.ly Smart Scaling Framework, they held them to look at incubation to mainstream under a very predictable model.

This model brings science to the art of business scaling. The more detailed you are with your plan using this framework the better you are set to reach your goal.

Why do some companies achieve things that ultimately exceed our expectations and defy all of our assumptions for what’s possible?

Would you startup be one of those unicorns?

Check it out! Take the plunge head-on with ZMOT.ly Smart Scaling Framework.

  1. Discovery: In this phase, you would Identify, define and prioritize opportunities that will deliver revenue/ growth. You may list all revenue/ growth model.
  2. Concept Development: In this concept development phase you would define the user, stakeholder partner value proposition and architect execution and revenue/ growth models for each revenue/ growth model.
  3. Proof of Concept: This is a very critical phase where you would validate the value proposition, revenue/ growth, and technical feasibility at a single location for each selected revenue/ growth model.
  4. Pilot; In this phase, you would test the complete model in multiple locations to validate scalability, for every scalable and sustainable model from POC. Many startups fail here.
  5. Scaled Deployment is all about focussed field execution to achieve stated goals and objectives. Here it is critical to achieving maximum revenue/ growth with minimum or administration.

Mainstream: This is no more a phase. At this stage, you have had a full adoption across all markets and integrate into core execution engines. This is business as usual and in all probability, you will have other competitors in the market. It is all about efficiency. But more importantly, this is the time to get focus to newer innovations and incubations.

Having said this, the idea of each of these models is suggestive. If a specific product or idea or a revenue model fails in any of the phases to achieve its desired objectives- you as founders and management team would need to have a real strong discussion on to do a Go-NoGo decision.

Hope this helps. Please feel free to reach out to zmotly@futureshift.com.sg if you need our help.

  • ZMOT.ly Team/ Futureshift
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How To Make Your Employees Share Content?


How To Make Your Employees Double Up As Content Marketing Warriors?

What can you do about it to have them more engaged in your social media activities?

Do your employees want to share your corporate content on a social network? If so, what would they want to share? Also, why do they think that it is valuable to share this info in their social networks?

Every marketing team would want to have their tens, hundreds or thousands of non-C level employees to share the corporate posts and content on their personal social networks and build the brand. The question is how?

Not long ago, Trapit, a company that enables social network content sharing by employees, commissioned what it calls the first survey of rank and file employees about their thoughts on sharing company info on a social network. Takeaways from the study and what the results mean for companies looking to improve their staff advocacy on social suggest that employees see great value in sharing via a social network. Many companies must catch up to do to take benefit sentiment.

The Observation

When study asked about the benefits their company would receive from social sharing, a three in four respondents perceive an advantage, while ten per cent see no value. Notably, 43% say it would increase brand consciousness, 21% believe it would aid brand credibility, while only 11% say it would boost sales. – Employees are supportive of social network and acting on a social network on behalf of their companies.

Another observation is that 55% of employees think it best to share 3rd party content in addition to their company’s content advertising. Moreover, 34% say that they are more than likely to share news articles about their company via a social network. This study suggests that employees are calling for help on the content front. They want the content from the creator, so that they can be active on social, and still help build their individual brand while promoting the company. Your employees do not want to spend their whole day farming for content on their very own. Corporate white papers and promotional materials are not enough. Your employees want an expansive mix of content.

So, what should a company do?

Your employees are not charmed in just being a corporate volunteer on their social network. They would like to be intriguing and engaging in their network and be reliable. These are the six things that you should do.

  1. Provide them with a good selection of content that includes ‘promotional’ corporate assets, as well as high value-assets like, industry news analysis, research, thought leadership
  2. Help them round out their personal profiles and their personas on social.
  3. Help them get some authentic engagement going versus just relaying more advertorial
  4. Additionally, content created for sharing, give them insights or a dashboard on their social sharing activities.
  5. Help them see some personal Return on investment for their efforts, just as you would for your business.

It is simple – Businesses must help measure the impact of social sharing – be it for your marketing team or your employee.

If employee-led social selling and employee engagement are not essential initiatives for the sales and marketing teams but the entire company including Human Resources and Senior Management teams.

This article first appeared on April 12, 2019 in a Times of India Blog titled How to make your employees double up as content marketing warriors?

#ContentMarketing #DigitalMarketing #EmployeeEngagement #Marketing #SocialMedia #SocialMarketng #ContentWarriors #EmployeeLeverage #SmartMarketing

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Infographic – Digital Marketing in 2018

Digital Marketing in 2018. Be prepared with good infographic from @MDGAvertising