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Federal Reserve Bank of Chicago Economic Forecast

Federal Reserve Bank of Chicago Economic ForecastI covered the Federal Reserve Bank of Chicago Economic Forecast last week, where all speakers issued this refrain: “More of the same.” Key economic indicators have been stuck in neutral—the proverbial “sideways” movement—so the consensus in the room was one of faint frustration tempered by gratitude. Everyone had lived through worse.

The current “recovery” is underperforming any other in recent memory according to many measures, especially employment.

The conference was very well organized and featured expert presenters. Reading between the lines, I perceive significant opportunity that will surprise most people. After my notes of speakers’ remarks, I’ll share my thoughts on 2013’s opportunity that is evident when one regards “the economy” from a different point of view.

Everyone wonders what kind of presents we will open in 2013 (right).

[…]

Building Post-Product Relationships in the Social Channel

Social Channel One: Building Post-Product Relationships with Customers is how to Build Brands

The Social Channel of ValuePioneering brands are building post-product customer relationships in the social channel because they realize that product features are copied easily and serve as weak differentiators, which leads to pervasive commoditization. Moreover, people’s preferences for individualized information dealt mass media a lethal blow, and products firms will have a similar fate. Here’s why products will become extinct and how to guide your brand in building post-product customer relationships and profits.

I have predicted for years that mass customization would be the fate of “products,” and social business is bearing this out in spades, so here I’ll delve into how impersonal “products” will be rejected by customers in 5-15 years. More important, CMOs and brand stewards who appreciate this transformation will enjoy unusual advantage, and smart ones will prepare for it now. Brands that don’t get it will simply perish, and no one will even notice except their producers and vendors. Just think about the local papers and TV stations you have known.

This is Part One of […]

Using Social Networks for National & Global Recruiting and Sales: Three-Stage Adoption Model

Using Social Networks for Recruiting and Sales shows how firms can increase quality of recruits and sales leads while cutting costs.

Using Social Networks for Recruiting and Sales: Alumni-Driven Adoption ModelSocial networks can help organizations, whether commercial, nonprofit or government, to significantly improve their efficiency in business processes like recruiting, sales and service. This is what we call “Enterprise Process Innovation” because, by using social networks to create and nurture relationships with alumni, your employees can diminish the time required to accomplish tasks within these processes. It’s well known that most alumni, former employees, move to firms that are related to your business (adjacent in the value chain) or complementary in some way. Yes, some move to competitors, but they are usually in the minority. Social networks, by significantly reducing the cost of having relevant, quality conversations, make robust employee-alumni networks actionable as never before.

All organizations (I’ll use “firm” to denote for profit, government and nonprofit) have business processes that benefit from relevant insight and introductions from other people: insight about the situation of the prospect, where the best sources of new recruits, […]

CIOs' Emerging Social Business Opportunity

cio_socbizAs a speaker at the CIO Forum & Executive IT Summit this past week, I spent two days in focused conversations with enterprise CIOs. The summit is co-sponsored by SIM, TEN and ITEEX and is a relatively intimate setting as most attendees are CIOs, and no press is allowed. We spoke about what was top of mind for CIOs and their experiences with social business. It served as an excellent “current state of the CIO,” and I have some surprising takeaways to share. I’ll also offer a surprising prediction and social business guidance to CIOs.

Having advised CEOs, CIOs, COOs and CMOs on adopting disruptive technology at various stages of my career, I have a broad perspective of the enterprise and executive roles. From the mid 1990s through 2006, I focused on enterprise software and corporate strategy. In 2006, I launched CSRA to advise enterprises on social business strategy, and I’ve been working with CMOs, which has been personally rewarding as I have also led marketing several times in my career. For context, here are a few things that most executives don’t yet appreciate […]

MIT Enterprise Forum 2009 Economic Outlook

Live-blogging the MIT Enterprise Forum’s 2009 economic outlook from Chicago […]