Transcript Document
The Influence Scorecard – influence performance management Philip Sheldrake www.philipsheldrake.com @sheldrake Author The Business of Influence: Reframing Marketing and PR for the Digital Age www.influenceprofessional.com Founding Partner, Meanwhile www.andmeanwhile.com AMEC – The Big Ask London, 17th November 2011 1 Questions Your organization ☐ Tick those you consider to be unique… 2 Questions Your organization Your marketplace ☐ Tick those you consider to be unique… 3 Questions Tick those you consider to be unique… Your organization Your marketplace Your stakeholders ☐ 4 Questions Tick those you consider to be unique… Your organization Your marketplace Your stakeholders Your marketing objectives ☐ 5 Questions Tick those you consider to be unique… Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives ☐ 6 Questions Tick those you consider to be unique… Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy ☐ 7 Questions Tick those you consider to be unique… See where I’m going with this? Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy Your PR strategy ☐ 8 Questions Tick those you consider to be unique… See where I’m going with this? Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy Your PR strategy Your marketing execution ☐ 9 Questions Tick those you consider to be unique… See where I’m going with this? Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy Your PR strategy Your marketing execution Your PR execution ☐ 10 Questions Tick those you consider to be unique… See where I’m going with this? Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy Your PR strategy Your marketing execution Your PR execution Your metrics? ☐ 11 Questions Tick those you consider to be unique… See where I’m going with this? Your organization Your marketplace Your stakeholders Your marketing objectives Your PR objectives Your marketing strategy Your PR strategy Your marketing execution Your PR execution Your metrics? 12 Not just a yardstick Management and measurement are inseparable. Things that get measured get done, or, to change the emphasis subtly and probably more accurately, people perform as they are measured. In other words, measurement isn’t some passive eye taking it all in and reporting back to the brain; it is an active, dynamic management tool as well as a feedback mechanism. The Business of Influence, Philip Sheldrake, Wiley, 2011 13 The business of influence is broken The Business of Influence, Philip Sheldrake, Wiley, 2011 http://www.flickr.com/photos/philip_sheldrake/87055500 14 You have been influenced when you think in a way you wouldn’t otherwise have thought, or do something you wouldn’t otherwise have done The Business of Influence, Philip Sheldrake, Wiley, 2011 http://www.flickr.com/photos/philip_sheldrake/160365265 15 If you’re in business, indeed any type of organization, then you’re in the business of influence The Business of Influence, Philip Sheldrake, Wiley, 2011 http://www.flickr.com/photos/philip_sheldrake/5629452844 16 Public Relations ≠ Pre-Web Web 1.0 Web 2.0 Web 3.0 } media relations 17 No organization is an island Everything an organization does occurs in the context of a changing world, in a dynamic interplay with every entity around it Organizations must cultivate a sensitivity to the new dynamic (one that’s superior to competitors’) and sharpen their ability to interpret and respond to the myriad communication flows issuing from all sides //The rise of social media Align Your Stakeholder-Facing Functions with an Influence Strategy, Philip Sheldrake, Balanced Scorecard Report, July-August 2011, Vol 13 No 4, Harvard Business Publishing http://www.flickr.com/photos/philip_sheldrake/107864510 18 The Six Influence Flows //The Business of Influence The Business of Influence, Philip Sheldrake, Wiley, 2011 19 Kaplan and Norton developed the strategy map tool for the alignment of operations with strategy, and the popular* Balanced Scorecard framework to augment the lagging (financial) indicators of business success with nonfinancial drivers of future financial performance. Useful for dealing with business based on tangible assets. Essential for those built on intangibles. //The way we contemplate, design, communicate and execute strategy Balanced Scorecard: Translating Strategy into Action, Robert S. Kaplan and David P. Norton, ISBN: 9780875846514 * http://www.bain.com/publications/articles/management-tools-2011-balanced-scorecard.aspx http://www.flickr.com/photos/philip_sheldrake/2773203483 20 Return on investment “The strategy map identifies the specific capabilities in the organization’s intangible assets – human capital, information capital, and organization capital – that are required for delivering exceptional performance in the critical internal processes.” “… each investment or initiative is only one ingredient in the bigger recipe. Each is necessary, but not sufficient. Economic justification is determined by evaluating the return from the entire portfolio of investments in intangible assets that will deliver the ROI from [the strategic imperative].” And this applies to influence activities too. //The way we contemplate, design, communicate and execute strategy Strategy Maps: Converting Intangible Assets into Tangible Outcomes, Robert S. Kaplan and David P. Norton, ISBN: 978-1591391340 http://www.flickr.com/photos/philip_sheldrake/107865905 21 And yet: “CMOs believe ROI on marketing spend [in isolation?] will be the number one method for determining the marketing function’s success.” //The way we contemplate, design, communicate and execute strategy From Stretched to Strengthened – Insights from the Global Chief Marketing Officer Study, IBM, 2011. http://www.ibm.com/cmostudy2011 Square brackets added here. 22 The Maturity of Influence Approach Trace the influence (the action) back to source. Medium It’s quality not quantity. Not how many people you interact with, but how and in what context? Low Number of followers, friends, subscribers, circulation. Empirically supported network science. Pitiful Obfuscating compound measures of non-contextual trivial variables. No empirical evidence. Focused on business outcomes, as we should be. Best practice, intelligent and you could say scientific and professional marketing and PR, and associated activities. Influence-centric High Characteristics Influencer-centric Maturity Akin to column inches and AVE – measurement because you can, not because you should. The Business of Influence, Philip Sheldrake, Wiley, 2011, Table 5.1, page 47 23 The Influence Scorecard How can we systematically learn from and manage influence flows? How do we define, develop, and execute a consistent and coherent influence strategy? How do we prioritize investments in influence-related human, information, and organizational capital? Kaplan and Norton’s strategy map tool and Balanced Scorecard framework are well suited to these efforts. //The Business of Influence The Business of Influence, Philip Sheldrake, Wiley, 2011 24 The Influence Scorecard /2 The Influence Scorecard serves as both the methodology for defining influence strategy and the tool for executing it. It’s a subset of the Balanced Scorecard, containing all the influencerelated objectives and metrics extracted from their functional silos. Helps management ensure that the potential to influence and be influenced is exploited cohesively and consistently throughout the organization. //The Business of Influence The Business of Influence, Philip Sheldrake, Wiley, 2011 25 Researching candidate metrics Social Media Metrics, Sterne Measure What Matters, Paine Marketing Metrics, Farris, Bendle, Pfeifer, Reibstein http://kpilibrary.com http://www.smartkpis.com http://www.kpi-portal.com http://www.bsccommunity.com http://www.thepalladiumgroup.com/communities/XPC The Business of Influence, Philip Sheldrake, Wiley, 2011, page 115 26 Today … influence activities: – Are spread, uncoordinated, across functional silos – Encompass only some aspects and subsets of the Six Influence Flows and the Influence Scorecard – Are defined in the context of 20th Century technology, media, and articulation of and appreciation for business strategy 27 Tomorrow Your influence strategy must: – Take best advantage of social media, new info technologies and best practice performance management – ‘Socialize the enterprise’, systematically – Drive business performance. 28