Analytics Tool for Sales #2 – Competitor Landscape

IMG_1833Another blind spot for a lot of business leaders is knowing their competition. Most have some sense of where they stack up on price and know what the competition offers, but few put any real data and analysis behind it. They make a lot of business decisions based on personal observations and historical knowledge. Very few mystery shop or put together a competitor landscape.

Per Wikipedia, competitiveness pertains to the ability and performance of a firm, sub-sector or country to sell and supply goods and services in a given market, in relation to the ability and performance of other firms, sub-sectors or countries in the same market. You take data points on the various aspects of products and services and you visualize them to see where you rank. Based on your ranking and the variances between competitors you can have a more focused business strategy and make more data-driven decisions.

Competitive data can be gathered off the internet, by phone and in person mystery shopping and surveying your own customers. Its a very powerful piece of information to know what your own customers are buying from your competition and why. When I was at Wells Fargo, I build a competitive landscape of all the primary money transfers business and monthly updated the management team with our rankings and trends. We would often use this information to adjust pricing and launch new marketing initiatives.

Do you know who your competitors are, where they are better than you and how you stack up in your own customers minds? DMAI offers a suite of business intelligence solutions to small and medium sized business including building and maintaining a competitor landscape for your business.

Analytics Tool for Sales #1 – Demographic Profiles

philippines-outsourcing-teamOne thing that amazes me is the lack of knowledge most sales people have about their current, former and potential customers. Who are they? Where do they come from? What do they look like? What are there habits? What appeals to them? These kinds of questions are often answered by personal observation. Most business owners and leaders don’t take the time to understand the demographic data of their market and miss key opportunities all the time.

According to Wikipedia, A demographic or demographic profile is a term used in marketing and broadcasting, to describe a demographic grouping or a market segment. This typically involves age bands (as teenagers do not wish to purchase denture fixant), social class bands (as the rich may want different products than middle and lower classes and may be willing to pay more) and gender (partially because different physical attributes require different hygiene and clothing products, and partially because of the male/female mindsets).

In short, every business owner and leader should have demographic data at their fingertips so they can analyze which customers are the most profitable and what they look like. Then its a matter of developing marketing schemes to attract more of them using the underlying data. Know your market and the markets around you.

There are numerous sources of free, publically available data available online. The US Census Bureau has one of the most detail collections of demographic data ever collected. As do other US Government Entities like the Bureau of Labor Statistics and the Central Intelligence Agency. There are also numerous organizations that supply global data like the United Nations, the World Bank and the International Monetary Fund. Many countries also publish valuable data on their websites like Central Banks and Government Statistics Offices. The Philippines in particular has some pretty solid data available to use for demographic profiling.

DMAI specializes is building demographics profiles based on your customer data and the public data about the markets your operate in. Stop guessing and minimize lost opportunities by working with DMAI to get your the demographic data you need to make more data-driven decisions.

13 Months in the Philippines – Lesson 13 – May 2013 – Exit Plans

Lipa City, Batangas, Philippines

At the end of April, I set a line in the sand. If we couldn’t line up enough co-marketed trainings and consulting gigs by the middle of the month, I would pull up stakes and head back to the US for a while. As the days went on we had several set backs as a key marketing partner decided to cancel the four training dates we had set up in May and a couple of potential consulting clients decided to wait on our training. In looking at expenses as well as several pressing personal issues it became pretty clear by the middle of the month that it was time for another change.

In looking at the amount of money we would need to keep things going versus the short-term revenue options the analytics suggested taking a pause and trying again once we have more capital. A lot of companies use data and analysis to look at where they’ve been, but not as many use analytics to help predict behavior. I think any solid predictive analytics exercise would suggest that there is a lot of money to still be made doing what we started. The market is there. The need is there. The raw talent is there. It’s just a matter of a better plan with more dedicated partners.

At about the same time, my partners also decided to officially disband BPO Elite. It has kind of just hung our there as an empty shell since October. I occasionally used the name and identity for people who new me as the man behind BPO Elite before I launched DMAI. It was a pretty sobering day to say the least when two years of work came to an end. However, it severed its purpose. It opened up doors, it allowed me to have the time of my life and it helped a lot of trainees achieve their dreams of finding jobs.

So after 13 months, I got on a plane and headed back to the United States a man who will never have to say he didn’t go all in for the sake of chasing his dream.

Little did I know, the labor and hard work of these past 13 months laid a foundation that would soon led to some amazing opportunities to come back and try it all again.

Analytics Tool > Business Intelligence Applications > http://www.gatner.com

Analytics Concept > Predictive Analytics > http://en.wikipedia.org/wiki/Predictive_analytics

YouTube Resource > http://www.youtube.com/watch?v=BjznLJcgSFI&feature=share&list=PL8D46F50D27222FD4

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business.

13 Months in the Philippines – Lesson 12 – April 2013 – The Wheels Come Off

Picture1Quezon City, Metro Manila, Philippines

April 2012, was a tough month. The challenge with filling training classes continued. We had three staff members depart for other opportunities. I ended a six-month engagement with my top client. It was time to switch gears again. We needed to pivot towards doing more outsourcing and consulting and less training.

One good things to come out of April, was the Social Media Analytics Workshop we held for a group of trainees for one of our clients. We discovered some pretty good talent and were able to put together a good team of analysts with a large range of analytics skills and social media savvy. There are a plethora of social media analytics tools built-in to just about every significant social media site. We also learned that the Philippines is the most social media driven country in the world. There is a higher percentage of Filipinos are online and actively using social media that with any other country.

I also continued to blog almost daily as I had learned from a good friend, is the key to monetizing your online business. You need fresh content that is relevant and engaging. You have that and you feed it to your audience on a regular basis, you can then start making a profit off it. Blogging about analytics is a key tool for analysts that’s often overlooked. Most analysts stay embedded in their silo. They focus on the data at hand and they master how to identify, inventory and integrate it. They accumulate a wealth of experience and knowledge and many are blogging about it.

However, in this case it was too little too late. Due to a series of personal and professional challenges it was time to think about what to do if revenue didn’t pick up quickly.

Analytics Tool > Analytics Blog > http://www.wordpress.com

Analytics Concept > Social Media Analytics > http://en.wikipedia.org/wiki/Social_analytics

YouTube Video > http://www.youtube.com/watch?v=JQYOmQRhzhM&feature=share&list=PL8D46F50D27222FD4

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business.

13 Months in the Philippines – Lesson 11 – March 2013 – Missed Opportunities

420Pasig City, Metro Manila, Philippines

March was lined up to be a very big month. We had 4 different training on the calendar as we continued to diversify our offering to get access to different types of clients and trainees. I continued to do media events and speaking engagements to push the brand. On paper the month should have led us to a very prosperous outcome and we would be well on our way to a healthy business model.

However, I underestimated a couple of things and overestimated our capabilities. This is exactly where so many small business efforts fail. Trying to do too much to soon. We did four different types of training; recruitment analytics, English for call center jobs, sales and marketing analytics and analytics for business leaders. If everything would have filled up I would have made over 100,000 PHP. But in the end I lost money on all four after costs of staff and venue were factored in. It’s the last time I did trainings without the help of a dedicated marketing partner.

I also overestimated my staff. One of my biggest weaknesses as a leader is that I tend to over trust and over challenge. I tend to treat employees as I wanted to be treated myself, but I forget they do not have the same level of experience and depth of passion I have. It sets them up for failure. And we failed miserably in our marketing, our recruiting, the quality of our product and our execution of strategy. I just got too excited and lost my discipline.

I also continued to do media events, but wasn’t capitalizing on them. Promoting myself is not easy. I can talk all day, but I forget the little things. Trinkets for the host, Shout outs to key business partners, mixing in a little Tagalog, staying on script. All valuable things that I can see now in hindsight I should have done better.

I really had uncovered a niche for training that I want to focus more on in the future. Recruitment Analytics training is something I am good at and something there is a dire need for in the Philippines.

Analytics Tool > Bullhorn > http://www.bullhorn.com

Analytics Concept > Recruitment Analytics > http://www.recruiter.com/recruitment-metrics.html

YouTube Resource > http://youtu.be/blx8IuHsmCA

Analytics in the Philippines – The Philippines is at the center of the action when it comes to solutions to the global need for analytics. Blessed with a solid foundation of young, educated and English speaking workforce, companies around the world are look for Filipino analytics talent to fill analytics positions. DMAIPH was set up to facilitate these solutions and bring the talent and the business together. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can help you take advantage of this unique global opportunity.

Lesson 10 – February 2013 – The Future is Bright

What Analytics Can Do!

Mandaluyong City, Metro Manila, Philippines
In February, for the first time in ten months I made a profit. You hear that the typical new business takes a year or more to make a profit. I had been a very flexible and nimble business leader and let my business evolve as opportunities came up. It seemed like all the hard work, sacrifice and money spent has been worth it. To take a quote from my all time favorite book, The Tale of Two Cities, “It was the best of times, it was the worst of time.” It was all a matter of perspective.

I was encouraged by several things. We had our most successful training event in February making a nice profit on my first public training geared towards young professionals and entrepreneurs. We also turned a profit with my first training focused on recruitment analytics, which was my first attempt to do something besides the basic analytics intro class. We had a couple of lucrative consulting gigs in the works. I was set for several media appearances and there was a lot of buzz building on our social media sites. I had a couple of speaking engagements lined up as schools to help set up more trainings down the road. The people I had hired earlier started to get into the swing of things and for the first time I thought we had enough people to fine tune our story and tell it to the world. Basically I was executing every aspect of the business plan I had set forth back in November.

As an analyst I felt pretty good about the ROI on our trainings, we had young and hungry staff willing to work for cheap to get the experience, my revenue was diversified and we were meeting our training head count expectations. I took on another trainee to work with a client’s marketing efforts and I was doing all this without the overhead of an office. We started getting into infographics. A fairly new trend in analytics and data visualization. I found a free info graphics tool and went crazy! A picture is worth a thousand words and a good infogrpahic is worth a thousand rows of data! Hehe!

Analytics Tool > Info Graphics > http://www.infographicsarchive.com/create-infographics-and-data-visualization/

Analytics Concept > Data Visualization > http://en.wikipedia.org/wiki/Data_visualization

YouTube Resource > http://www.youtube.com/user/Piktochart

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business.

Lesson 9 – January 2013 – New Beginnings

139Ortigas, Metro Manila, Philippines

January 2013 got off to a great start. I set up a training, had a partnership with an events management company set up one in February, I filmed my first promotional video, and we had an official kick off party launch. I looked back at all the lessons I had learned in 2012 and focused in on two key ones; better marketing partnerships and charging more for the trainings.

There are so many important elements to a good marketing campaign. I learned a lot during my time with Wells, but hadn’t done a great job of them up till now. One thing was we needed a video. Something with me talking about analytics in away that gave people a chance to both better understand the topic and walk way feeling that I’m the best person to teach them about it. After some miscues we finally got it right. Another lesson is to have another voice be the one talking me up. We partnered with an events management company to get me in the media and put some polish on things. I guested on a number of TV and Radio shows and we started to sponsor more high profile events.

The next thing to do was reload the staff. At the end of 2012, I was down to one staff and no trainees. I decided to go all in with hiring more staff to help with the marketing and get our message out much broader then before. And with the media exposure we had content, we just needed to get it in front of as many people as possible. Based on the data available, I knew that our best bet was to train young professionals who could pay 3000 PHP for the training and then refer friends and co-workers. So that was the heart of our plan.

At the end of the month I was exactly where I wanted to be, the business had every sign of taking off and reaching the heights I had in mind.

Analytics Tool > KD Nuggets > http://www.kdnuggets.com/

Analytics Concept > Cost Benefit Analysis > http://en.wikipedia.org/wiki/Cost%E2%80%93benefit_analysis

YouTube Resource > http://youtu.be/A0rFj0WVqDQ

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business.

13 Months in the Philippines – Lesson 8 – December 2012 – Holidays in the Philippines

IMG_1114 Kalookan, Metro Manila, Philippines

As 2012 came to a close, things really started to slow down. I took full advantage of this to prepare of a big launch of DMAI in January. We didn’t go home for the holidays, and ended up just staying in Makati to enjoy Christmas and New Years. And boy was it memorable.

The Winter Holidays in the US start with Thanksgiving. That’s when the malls have huge sales and you start seeing Christmas lights and hearing Christmas music in the malls. However in the Philippines that starts in September. So, but December I was pretty fatigued from hearing and seeing the Christmas cheer and looking forward to finally seeing the day come and pass.

There were a couple of additional interesting lessons I learned. From the period between Christmas and just after New Years, all movies show in Manila are Filipino made films. No Hollywood blockbusters or international films. It’s both good and bad, it allows Filipinos to relish in their own productions and guarantees viewing for films that might otherwise be missed. However, they are of course all in Tagalog. I went to one and got some of it, its was a romantic comedy so most of the jokes don’t need translation, but boy wouldn’t it be nice if they had subtitles.

The other one that really stands out is the fireworks. In the US we do fireworks in a big way on July 4th. There are also some on New Years or Veterans Day or Memorial in places, but fireworks really cant be enjoyed when its cold so for the most is just Independence Day. In the Philippines in Christmas Eve, Christmas, New Year’s Eve and New Years Day. Staying on the 10th floor of a corner condo in Makati I could see fireworks all around from Pasay to Manila to Makati. Big and Small. It was amazing. And after the smoke was so thick it was like fog. It was truly amazing.

From an analytics standpoint I took away a couple of things. Know your holidays. For example, if you are an American company doing business in the Philippines know the holidays so you can keep your people happy. The second is that someone needs to do some analysis on the lost revenue of just showing Filipino films. They still make good money, but it has to be tough on the cinemas to sacrifice profit for art over a two-week period where everyone is at the malls.

Analytics Tool > Enchantment > http://www.guykawasaki.com/enchantment/

Analytics Concept > Business Partnership > http://en.wikipedia.org/wiki/Business_partnership

YouTube Resource > http://youtu.be/f66naHGTsFU

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business. 

13 Months in the Philippines – Lesson 7 – November 2012 – Flying Solo

Muntinlupa City, Metro Manila, Philippines

When I got back from the U.S. in early November, things were very different. And that’s and understatement. They weren’t just different everything was starting to fundamentally change. My partners and I split ways. The project in Clark ended. I no longer had an office to go to. My right hand girl left to get married and have a baby. My trainees all found jobs. Professionally I was flying solo for the first time and it was exhilarating. I decided to take what I had learned from BPO Elite’s short coming and apply the lessons to a new company that would become DMAI.

SAM_4385

However, I also knew that even though I was charting my own course, I would need lots of help from people to be successful. I ratcheted up my networking and took on a new consulting gig with a medical transcription company. I started looking for marketing partners who can help me get my message to a broader audience and I started looking for better short term ROIs on my projects.

By the end of the month it was paying off. I was starting to make decent money and had a master plan to launch the new company in January.

From an analytics perspective, I dove deep into the needs of my new client. I did a lot of research on healthcare outsourcing to learn the players, the trends and the sweet spots. Gathering data and fashioning it into a marketing strategy was priority one. Determine which products would give the company the best ROI, updating the marketing message and focusing in on key markets was the plan. It was a well polished business strategy that was deeply grounded in my analysis. The sky is the limit!

Analytics Tool > Microsoft Access > http://office.microsoft.com/en-us/access/

Analytics Concept > Needs Assessment > http://en.wikipedia.org/wiki/Needs_assessment

YouTube Resource > http://youtu.be/AiAHlZVgXjk

My Analytics Story – My passion is solving problems by bringing together the best talent, cutting edge technology and tried and true methodologies. DMAIPH is all about empowering people towards better Decision-Making through the use Analytics and business Intelligence. This is what I do best. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly for a free consultation about getting more analytics into your career and your business. 

The Only 4 Dimensions That Matter!

052107dhttp://www.linkedin.com/today/post/article/20130723131517-758147-the-only-4-dimensions-that-matter-in-hiring-why-you-re-probably-evaluating-them-wrong?trk=tod-home-art-medium_0

Reposting this great article by the CEO of oDesk. Its seems that just about every interview process I’ve been thru recently is only focusing on the last (and least important) two. Just because someone does have the exact skills sets and knowledge bases you think you need to have right now, don’t undervalued their motivation and their and character. Its way to tactical!

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Does this sound familiar? You interview a candidate who has deep knowledge of your industry and checks off every box in the ‘skills’ section of the job description. They assure you that they are the perfect fit for the position, able to hit the ground running on day one. They look great on paper and seem to be excited about the job. You make an offer, the employee starts working, and soon you are inundated with red flags and problems coming at you from all sides.

What went wrong? You didn’t assess the two most important criteria for any new hire: personal characteristics and motivation.

There are four key hiring dimensions: #1 personal characteristics, #2 motivation, #3 skills and #4 knowledge. In the above scenario, the focus was on just skills and knowledge. And while these are still critical to predicting the success of a potential hire, they should take a backseat to personal characteristics and motivation.

For the most comprehensive picture of a potential candidate, you have to look at all four dimensions, in this order of importance:

1. Personal characteristics are just that—core to one’s personal character. They are what make a person who they are, so for all practical purposes they are unchangeable (or at least too difficult to realistically change in a business context). After all, you can teach a chicken to climb a tree, but you’re better off getting a squirrel in the first place.

When I’m evaluating personal characteristics, I focus on:

Integrity
Intelligence
Judgment
Passion
Strong communicator
Initiative
Energy
These characteristics, at least for me, are deal-breakers. It doesn’t matter if I’m talking to the most experienced, most talented web developer in the Northern Hemisphere; if she isn’t a strong communicator, or he doesn’t have good judgment, nothing else matters. How do you assess these behaviors? That’s another fascinating topic for another post.

2. Motivation is next on the list. As with personal characteristics, this is often deeply embedded and therefore difficult to change. Motivation is often the best determinant of whether the person is a good fit for the role (and vice versa). Because preferences about work environments, stress levels, challenges and team dynamics can vary greatly, misalignment in this area is one of the primary causes of job dissatisfaction and under performance.

For oDesk, this means finding people who get excited about our mission, who like challenges, and who want to make an impact on the company and the world. Some people are energized by this environment; those are the ones we look for. For some, targeting impact and facing challenges drains energy, leading to unhappiness on both sides.

One of the reasons motivation is so important is that people who are a great fit with the role and environment will find much more personal growth as they rise to the challenge of a job they enjoy.

3. Skills—which sit on the secondary tier of dimensions—can’t be overlooked entirely, but they do require some reframing.

Most people think of skills in terms of job-specific expertise (graphic design, programming languages, etc.). While those job-specific skills do matter, they are much easier to learn once in a role than the more foundational skills you should be evaluating first: skills like communication, project management, organization, the ability to handle rapid context switches, etc.

As long as those foundational skills are present—and the position is flexible enough to support learning additional skills along the way—the skills dimension can often be considered met (of course there are some exceptions — you won’t be training any surgeons on the job).

4. Knowledge is the least important dimension—not because it doesn’t matter, but because it is the most easily changed (and is very likely to change anyway).

As a result, when evaluating this dimension, what’s most important is not the knowledge that the candidate already has. Instead, assess their foundation and framework for gaining new knowledge, as well as how able and willing they are to do so.

As with skills, those who don’t currently possess all the knowledge needed to be successful in a given role can still be great candidates, as long as they have that foundation and the position provides the opportunity to gain knowledge as they go.

In my experience, placing too much emphasis on knowledge (at the expense of the other three dimensions) causes the majority of hiring mistakes. Remember, just because a candidate knows their domain inside and out doesn’t mean they are a good team player or that they won’t jump ship as soon as the tide turns.

At the end of the day…

… to determine whether a particular red flag or concern really matters in predicting a candidate’s success, a good rule of thumb is to ask yourself: can it be changed or learned? If the answer is no to both of those, spare yourself a hiring disaster and move on.

What’s your experience with these hiring dimensions? Which are most important to you?

Want more from Gary? Follow him on LinkedIn and @garyswart.

Featured on:Recruiting & Hiring
Posted by:Gary SwartGary Swart