Jimmy Webb and the Power of Storytelling for B2B Companies

Music critic Miss Universe on "A Hard Day's Night" movie set

Songwriting legend Jimmy Webb has written some of pop music’s most enduring ballads, including Wichita Lineman, By the Time I Get to Phoenix, Galveston, The Worst That Could Happen and the rock cantata MacArthur Park (simultaneously heralded as a musical masterpiece and the worst song ever written.)

The 66 year-old Oklahoma native now lives in Long Island and performs year-round at small venues in the US, Canada and abroad. Baby boomer fans pack the room to hear Webb strain to hit his own songs’ high notes, to listen to his tales of life on the road, and to get the real stories behind how and why he wrote specific songs.

At a show last weekend in New Jersey, Webb told fans about his first trip to London in 1964, where he fell in love with Miss Universe, who he met on the set of the Beatles movie, A Hard Day’s Night. According to the rambling story, in his attempt to impress the beauty queen – who had been cast as an exotic dancer and appears for 6 seconds in the film – Webb invited her back to his hotel room, where he sat her down next to him on the piano bench and performed his then unrecorded version of MacArthur Park. Unfortunately for Webb, the 7 ½-minute song failed to put her under his spell. She told him it was a silly song and left. Or so Webb’s story goes.

For the 450 people who heard Webb’s London adventure, all of whom have listened to MacArthur Park for decades, their musical experience has been forever re-shaped. When they hear that song in the future, it will provide a different context or a different meaning. Now, instead of cakes left out in the rain, they’re more likely to envision Jimmy Webb serenading Miss Universe in London. That’s the power of storytelling.

Social media and technology provide efficient ways for people to tell stories. But according to Dr. Pamela Rutledge, Director of the Media Psychology Research Center, “The human brain has been on a slower evolutionary trajectory than the technology. Our brains still respond to content by looking for the story to make sense out of the experience.”

Writing in Psychology Today magazine, Dr. Rutledge notes that, “When organizations, causes, brands or individuals identify and develop a core story, they create and display authentic meaning and purpose that others can believe, participate with, and share. This is the basis for cultural and social change. This is a skill worth learning.”

Increasingly, in B2B communication, companies focus on the medium and the technology, rather than the underlying message, its meaning or purpose.  In our world of websites, blast emails, podcasts, webinars, analytics, blogs, Facebook, Twitter, marketing automation, smart phones and mobile apps…it’s easy to forget that the quality of a company’s narrative drives people to notice, participate or care about what’s begin sold – whether that be a product, service or a philosophy.

We’re all familiar with how the big brand companies such as Harley Davidson, Jack Daniels, Levi Strauss, IBM and Ben & Jerry’s have leveraged their corporate narratives to build awareness and market interest. But most small and medium-sized companies, and B2B firms in particular, are at a loss to understand how the power of storytelling can showcase their core values, mission and marketplace differentiation. But this goal can be accomplished…not by cooking up elaborate tales about the company’s founders or its early struggles… but rather, by pulling back the curtain on how and why the company makes decisions, and by using real-life examples and incidents to provide interest and context.

A great example of effective storytelling involves Davidson Trust Company, a Devon, Pennsylvania-based investment manager with around $1 billion in assets under management. In a series of columns published in the Philadelphia Inquirer, Davidson’s CEO Alvin A. Clay III used stories to establish relevance for his thoughts on issues of importance and likely interest to his firm’s current and prospective investors.

In one of his columns, Davidson’s CEO described how his father – a longtime professor at Villanova – had been the beneficiary of kindness as a young man, and had devoted much of his teaching career returning the favor to others. In another, Mr. Clay recounted a heated debate he had experienced with other business leaders, and how that exchange had shaped his decision-making process regarding publication of his company’s ethics statement on its website. In all of Clay’s columns, he used storytelling to deliver insight and to position the Davidson brand in a genuine, credible and memorable manner.

At his concerts, Jimmy Webb spends more time telling stories than he does on singing his songs. And these events typically end with a 10-minute standing ovation.

Earlier this month, Davidson Trust Company received its own standing ovation. Publicly traded Bryn Mawr Bank Corporation (NASDAQ:BMTC) announced plans to acquire Davidson.

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No-Cost, Cornball Marketing Can Drive B2B Top-of-Mind Awareness

LtoR: Heather Fuller, Andrew Crisp, Percy, Gary Thompson, Mickie Kennedy. Missing: Nimmi, the acrobatic dog.

eReleases competes with dozens of electronic news distribution services, all seeking to charge companies and PR agencies hefty fees to put their press releases in front of journalists, in hopes of capturing the media’s attention and coverage.

After some polite online badgering by eReleases, Highlander Consulting gave that upstart firm a shot last week; tasking them to distribute a press release for one of its clients, CAP Index Inc. – a leading provider of  crime forecasting data and risk analytics.  eReleases’ results were as good as, or better than, any of its larger, better-known competitors.

But what impressed us more than the quality of their service, was the no-cost, cornball guerilla (included in photo) marketing tactic that eReleases applied to thank us for our business.

A whacky whiteboard “eReleases Welcomes…” photo, personalized by name, sent by editorial director Heather Fuller, was embedded with this note:

“We just wanted to take the opportunity to personally welcome you as a valued eReleases customer and let you know we’re not just a website in some guy’s basement. 🙂

If you ever have any questions or concerns, pick up the phone and call us. All of our editors pick up the phone. No pushy salesperson or operator standing between you and us.”

So….what service provider will Highlander think of FIRST the next time we need to distribute a press release online?

Marketing Lesson: Cheap, clever and memorable can beat costly and sophisticated when it comes to driving top-of-mind awareness with targeted B2B audiences.

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5 Secrets to Ray Dalio’s Hedge Fund Success

Hedge Fund Craftsmanship

By most measures, Ray Dalio has achieved great success during his 65 years on earth. Unlike Donald Trump, Dalio didn’t inherit wealth. As a middle-class kid, he delivered newspapers, shoveled snow and was a caddy during the summer. The company Dalio established in his apartment in 1975, Bridgewater Associates, is currently the world’s largest and most successful hedge fund manager, with more than $87 billion in assets under management. Recently, Dalio was ranked by FORBES as the 30th wealthiest person in America, and the 69th wealthiest person on the planet, with a personal net worth of $15.2 billion.

So in a highly competitive landscape populated with nearly 10,000 hedge funds, how has Bridgewater been able to rise to the top of the investment management world and remain there? It’s unlikely that Dalio and his team know more about the markets, across every asset class, than all other hedge fund managers. It’s unlikely that Dalio simply has had a luckier hand in the bets he’s placed over the past 4 decades. And it’s also unlikely that Dalio has sold his soul to the devil.

In fact, Dalio makes no secret about Bridgewater’s success, and it’s articulated in great detail on his firm’s website. Dalio even provides a “Principles” playbook that you can download.

Briefly, here are 5 “secrets” to Dalio’s success:

He’s built a values-based organization – Dalio understands that Bridgewater’s ability to get 1,200 smart people to sing from the same songsheet requires clarity and consistency on what his company stands for, what it’s trying to achieve, and how it intends to get there. His belief system is based on the concept of “radical transparency,” which encourages employees to question everything, to think for themselves and to speak up.

He works ON his business, not AT his business – Dalio understands that intellectual capital, enterprise experience and operational systems & processes must be captured, documented and integrated into the day-to-day decision-making of a firm. Like Ray Kroc, Dalio has invested great thought and effort to create an organization with intrinsic value that does not rely on him, or on any individual, for its continued success. In Bridgewater, he has created the McDonald’s of investment management.

He has no patience for ego or emotion – Dalio understands how personal agendas and corporate politics can destroy any organization. He has been relentless in his efforts to remove ego barriers and emotional reactions in Bridgewater’s decision-making process. Institutional and personal transparency is the cornerstone of Bridgewater’s corporate culture. Some employees who’ve found it difficult to survive under such a high level of scrutiny either drop out or are invited to leave, providing the firm with a very effective natural selection process.

He’s focused on the importance of mistakes – Dalio understands that corporate arrogance is the most significant potential liability for successful companies. Because he believes anyone can be wrong, the Bridgewater culture views mistakes as opportunities to learn, rather than something to be avoided. FBI Director James Comey, who once served as Bridgewater’s general counsel, described the firm’s “obsession over doubt” as an asset that drives constant improvement and reduces the chances of bad decisions being made.

He’s not motivated by money – Dalio has been wealthy for a long time, but being wealthy was never his primary goal. In his own words, “I started Bridgewater from scratch, and now it’s a uniquely successful company and I am on the Forbes 400 list. But these results were never my goals—they were just residual outcomes—so my getting them can’t be indications of my success.  And, quite frankly, I never found them very rewarding. What I wanted was to have an interesting, diverse life filled with lots of learning—and especially meaningful work and meaningful relationships. I feel that I have gotten these in abundance and I am happy.”

The corporate tag line describing Bridgewater Associates is aptly titled “A Different Kind of Company.” And Dalio is a different kind of American businessman. Unlike Apple’s Steve Jobs, who managed by arrogance, fiat and intimidation, Dalio has created a meritocracy that’s based on honesty, clear thinking and humility.

Bridgewater doesn’t produce clever electronic gadgets or software apps designed to entertain us or make our lives easier. Dalio’s greatest achievement is unrelated to the wealth he’s created for himself or for his institutional investor clients. Dalio’s most valuable and enduring accomplishment is based on his role as the architect of an organizational management model that can radically improve the world of work, as well as the lives of people who seek personal meaning through their work.

Unfortunately, most companies – regardless of industry – don’t have the courage or the desire to adopt Dalio’s brutally honest management approach. That’s why Bridgewater is likely to be the most world’s successful hedge fund manager for a very long time.  True hedge fund craftsmanship.

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BMW’s Storm Cooper: A Mini-Coup Rather than a PR Blunder?

Stormy Weather for BMW?

For a fee, Germany allows people or companies to sponsor the names of weather fronts. So last month, to promote the “wind and weatherproof” capabilities of its Mini Cooper line, BMW’s marketing agency purchased naming rights to a high pressure system that originated in Siberia.

But the Cooper storm turned out to be far more than weather forecasters and BMW expected. As the storm made its way through Eastern Europe, its sustained sub-zero temperatures were attributed to the deaths of more than 250 people.

PR industry pundits and critics have been quick to jump on BMW for its decision to associate its brand with what has turned out to be one of Europe’s most deadly winter storms on record. A headline in the Wall Street Journal announced: “Weather Deal Backfires for BMW’s Mini.”

But did it really?

Although BMW quickly and properly issued a statement saying that it regretted the weather front’s severity, and distancing itself from the deadly consequences of weather, the car company’s $400 investment in Storm Cooper may have been a PR bonanza rather than a black eye.

The Wall Street Journal’s position notwithstanding, few people are likely to blame BMW for the storm’s impact, or to associate the Mini Cooper brand with the casualties. However, if top-of-mind awareness is a beneficial marketing objective for a car company, then the exponentially greater, world-wide storm-related coverage for BMW’s Mini Cooper marque certainly won’t hurt showroom traffic or the company’s balance sheet.

In this case, the old saw, “All publicity is good publicity” may well be true. I’m confident that BMW’s marketing agency considers this a solid win, rather than a blunder.

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Page’s Seven Principles of Public Relations Management

Arthur W. Page (1883 - 1960)

Although Edward Bernays is often characterized (largely through self-promotion) as the “father of public relations,” most serious PR practitioners consider Arthur W. Page to be the first and most influential apostle of modern-day public relations and corporate communications.

From 1927 to 1946, Page served as a vice president and director at AT&T, and his many contributions to the profession are recognized today as namesake of The Arthur W. Page Center for Integrity in Public Communication – a research center at Penn State’s College of Communications – as well as the Arthur W. Page Society, whose members are corporate chief communications officers or senior officials at public relations agencies.

Page’s most lasting legacy, however, may be the seven rules of PR management, known as the Page Principles, that he espoused:

  • Tell the truth. Let the public know what’s happening and provide an accurate picture of the company’s character, ideals and practices.
  • Prove it with action. Public perception of an organization is determined 90 percent by what it does and 10 percent by what it says.
  • Listen to the customer. To serve the company well, understand what the public wants and needs. Keep top decision makers and other employees informed about public reaction to company products, policies and practices.
  • Manage for tomorrow. Anticipate public reaction and eliminate practices that create difficulties. Generate goodwill.
  • Conduct public relations as if the whole company depends on it. Corporate relations is a management function. No corporate strategy should be implemented without considering its impact on the public. The public relations professional is a policymaker capable of handling a wide range of corporate communications activities.
  • Realize a company’s true character is expressed by its people. The strongest opinions — good or bad — about a company are shaped by the words and deeds of its employees. As a result, every employee — active or retired — is involved with public relations. It is the responsibility of corporate communications to support each employee’s capability and desire to be an honest, knowledgeable ambassador to customers, friends, shareowners and public officials.
  • Remain calm, patient and good-humored. Lay the groundwork for public relations miracles with consistent and reasoned attention to information and contacts. This may be difficult with today’s contentious 24-hour news cycles and endless number of watchdog organizations. But when a crisis arises, remember, cool heads communicate best.

Practicing and aspiring public relations executives would be well-served to keep a copy of these timeless Page Principles on the wall, or at least in their desk’s top drawer.

Life-long students of PR craftsmanship will also enjoy and benefit from reading the acceptance remarks from the Page Society’s Hall of Fame recipients, and from watching the videos from the Page Center’s collection of oral histories given by some of the profession’s most noteworthy PR practitioners from the past and present. Notably, the Page Center’s website also contains a great number of Page’s speeches and writings.

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Glassdoor.com: Social Media Tool or PR Nightmare?

Learning to Live With Employee Opinion

Since its founding in 2007, Glassdoor.com has become an important research tool for job hunters, corporate recruiters, and anyone looking for unvarnished behind-the-scenes insight into what really goes on behind corporate doors. Although Vault.com – established more than a decade earlier – serves much the same purpose, Glassdoor.com represents a far greater online brand risk…largely because the website provides free access to remarks posted by real, bogus and often disgruntled employees, and because those negative postings are often found on Google page one searches involving the company under fire.  For many of the 250,000 companies it currently covers, Glassdoor.com can be a PR nightmare waiting to happen.

Websites dedicated to employee dissatisfaction were social media pioneers; empowering workers to publicly call their manager a “5-Alarm Nut Job” without retribution, to gripe about low pay or a lousy lunchroom, and to warn others to look elsewhere for a job.  The most notorious of these early sites included RateMyEmployer.com (currently on life support),  F**kedCompany.com (which died in 2007) and JobVent.com, which was acquired by Glassdoor.com in 2009. The demise of this scruffy first generation of workplace gripe sites gave way to an even more powerful and credible second generation of professionally managed, sophisticated sites like Glassdoor.com, backed by private equity investment, and fueled by business models that ensure their long-term existence.

Here’s a survival guide for companies seeking to avoid, minimize or benefit from brand exposure that’s delivered on Glassdoor.com:

Address Root Causes – Companies that focus on employee satisfaction and provide internal channels for rank & file feedback have far fewer negative postings on Glassdoor.com. Effective workforce management, however, does not ensure a positive outcome on the site. For example, Texas-based Beryl Health (formerly Beryl Companies) is well-known for its employee-focused culture, and was a “Best Place to Work in Healthcare” according to Modern Healthcare magazine. Beryl’s former CEO Paul Spiegelman even wrote a popular book about the importance of employee motivation. But Beryl’s current Glassdoor.com rating is 2.5 (unsatisfactory) on a 5-scale, based on a few negative postings (of seven reviews in total) from its employees.

Work The System – To their credit, Glassdoor.com does have a protocol for screening out employee rants that violate their standards of legality and good taste. They also have a viable internal system for moderating comments that are flagged by another party as “Inappropriate.” As a last resort, if a posting is believed to be bogus, particularly harmful or libelous, a company can appeal directly to Glassdoor.com’s corporate General Counsel. There’s no need to be victimized. Companies should monitor employee comments on Glassdoor.com, and respond directly and aggressively when appropriate.

Purchase a Profile – For a fairly reasonable price, Glassdoor.com will provide an “Enhanced Employer Profile,” featuring a comprehensive description of your company. I don’t work for Glassdoor.com in any capacity, or receive compensation for promoting its products, but it’s a no-brainer to take advantage of an opportunity to provide credible, positive content that can offset misinformation, warts and shortcomings that others are sharing online.

Lobby for Support – It’s no secret that many companies “encourage” their happy employees to post positive comments on Glassdoor.com as a means to bolster their overall Company Rating. Unfortunately, some companies assign this role to their PR department, whose staff members pose as anonymous employees, pumping out false praise and motivating detractors to post additional rants. In some cases, it may be beneficial to lobby for employee support on Glassdoor.com by asking them to express their satisfaction with the company. However, this solicitation must be carefully planned and expressed in a genuine manner, or the potential for this effort to backfire, internally and online, is fairly high.

Embrace Criticism – When online detractors echo similar complaints, it usually means there’s some underlying truth to what they’re griping about. It also means that Glassdoor.com visitors will begin to believe them.  Although it’s contrary to corporate instincts, the quickest way for a company to stop online rants is to fix the related problems, or to explain to employees why it won’t or can’t. Allowing Glassdoor.com to serve as a canary in the coal mine can avoid problems that may be more significant than brand reputation.

Glassdoor.com is an online reality that requires pro-active and consistent oversight by fiduciaries of the corporate brand.  Understanding how to peacefully coexist and leverage this influential social media tool enables companies to minimize negative brand impressions, drive recruitment and demonstrate their institutional backbone to current employees.

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Sales Tips from PR Legend Lee Levitt

Lee Levitt, sans fedora and shoulder bag

Lee Levitt, who passed away in 2010 at the age of 80, continues to be remembered as a PR practitioner who gave much to the profession; as someone who lived up to his characterization as an industry visionary.

Paging through Lee’s “Manual of PR Sales Strategy & Tactics,” the insights he  offers are as relevant today as when he wrote them in 1992, and apply across all professional service disciplines, not just PR. Here are a few Levitt gems:

  • “What most managements want to buy today is the accomplishment of specific substantive corporate / institutional goals… So that is what you must sell. You cannot simply come in and enumerate the skills you have, the technical things you can do. You must explain how applying them will solve some substantive problem or take advantage of some substantive opportunity.”
  • “Telling people that you are going to counsel them can make you seem presumptuous and arrogant. No matter how diplomatically you put it, you seem to be saying that management is dumb and benighted, while you are smart and enlightened.”
  • “What prospects really want to hear about is themselves. They want you to tell them about themselves in exactly the same words they use… And they want you to want their business and be enthusiastic about it.”
  • “Never criticize what the prospect has done in the past. Let the prospect tell you what went wrong and whose fault it was… If asked if you could have done better, say you hope so.”
  • “Most salespeople believe it is their job to talk, and up to a certain point that is true. But once the prospect is primed to talk, it is your job to shut up and listen. Some salespeople never learn this.”

If you can find a copy of Lee’s book, buy it and read it. If you have a copy on your bookshelf, pull it out and re-read it. But don’t ask to borrow my copy, because it’s not going anywhere.

Lee Levitt embodied craftsmanship in public relations, and left a lifetime of wisdom for those who follow in his footsteps.

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PR Lesson from a Twitter Flap

Emma Sullivan

@emmakate988

Just made mean comments at gov brownback and told him he sucked, in person #heblowsalot

When Shawnee Mission High School student Emma Sullivan jokingly tweeted her friend on November 21st, expressing her opinion of Kansas Governor Sam Brownback’s education policy, she had no reason to suspect that her 87-character message would ignite a firestorm of national debate; generate media exposure from nearly every major news source; increase her Twitter followers to nearly 16,000 from 61; or make her the poster child de jour for the First Amendment.

It wasn’t Emma’s tweet that caused the high-profile controversy. The flap was created by a staffer in Governor Brownback’s office who was compelled to contact the leader of Emma’s “Youth in Government” program, who notified Emma’s high school principal, who demanded an apology from Emma, who responded by notifying the media that her God-given American right to tweet was threatened. Stop the presses: we’ve got ourselves a sexy story that’s ready for prime time.

At this point, Governor Brownback and the Shawnee Mission School District had a big decision to make: either hold your ground, or back off a controversy that the media was likely to milk for days, and would position the governor and educators as free speech bullies and social media terrorists.

Contrary to decision-making you might expect from politicians and bureaucrats, both parties immediately backed down. The governor issued an apology, and the school district publicly stated its support of free speech and said Emma was not required to apologize. Smart move.

The PR lesson from this tweet heard round the world is that an apology is often the most effective way to limit damage to one’s reputation or brand. It takes guts to admit an error, but if it’s done correctly, you can build goodwill that offsets the mistake.  For some guidelines on how to apologize correctly, check out Ken Makovsky’s blog post on John Kador’s book, “Effective Apology.”

Emma Sullivan might want to put Kador’s book on her Christmas wish list. She has yet to learn basic diplomacy skills from her Youth in Government program. To date, Emma has refused to apologize for her salty tweet.

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B2B Marketing Strategies and Insights

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