|By Shelly Palmer||
|February 25, 2013 04:42 PM EST||
Draper reported on a Republican-conducted focus group session in which a researcher asked what younger swing voters associated with the word “Republican.” When the facilitator wrote the word “Republican” on a whiteboard,
… the outburst was immediate and vehement: “Corporate greed.” “Old.” “Middle-aged white men.” “Rich.” “Religious.” “Conservative.” “Hypocritical.” “Military retirees.” “Narrow-minded.” “Rigid.” “Not progressive.” “Polarizing.” “Stuck in their ways.” “Farmers.”
Except for “Military retirees,” “Farmers,” and, perhaps, “Religious,” the focus group could have been talking about legacy media top management, especially the comment about “Stuck in their ways.”
And there is no better example of being “stuck in their ways” than the legacy media way of compensating salespeople, primarily on commission.
As Daniel Pink suggests in his best-selling new book, To Sell Is Human and in his Harvard Business Review article “A Radical Prescription For Sales,” “the reps of the future won’t work on commission.”
What if paying salespeople commissions is rooted more in tradition than logic? What if it’s a practice so cemented into orthodoxy that it’s no longer an actual decision? That’s what a handful of companies have begun discovering. To the surprise of many, these firms are showing that commissions can sometimes do more harm than good—and that getting rid of them can open a path to higher profits.
We know that most legacy media CEOs care about only two things: One, compensating themselves an undeserved, gargantuan amount of money, and, two, higher profits every year.
Don’t these CEOs read? Can they read? That’s a legitimate question, because either they don’t read (or can’t) or they do read about but don’t pay attention to the latest trends in compensation and often make their salespeople perform worse than they otherwise would by paying them the wrong kind of commissions. For example, using yield management programs to determine optimal rates and then paying salespeople commissions based on getting the computer-generated higher rates.
The assumptions management makes are: One, that all salespeople are motivated solely by money, and, two, that salespeople have control over the rates advertisers will pay.
Clearly legacy media managers are motivated by money, so they assume everyone else is. Plus, their bonuses are based on higher profits every year, so they assume all of their salespeople are interested in helping them receive a higher bonus. Wrong, arrogant, and stupid.
But stupid is as stupid does; even Forrest Gump knew that. And that’s what paying salespeople primarily on commission does – makes them stupid. Makes them hunters. And what do hunters do? They kill and eat their prey.
Commissions, especially commissions based on higher rates or higher shares, force salespeople to treat their customers as prey.
But do you think the new media companies such as Google or Facebook, or companies such as Amazon or Apple consider their customers prey? Of course not. Their primary business strategy is to delight their customers, not kill them. Their salespeople are educators who, to use Daniel Pink’s term, upserve their customers, not upsell them.
Yes, legacy media top managers are stuck in their ways, particularly when it comes to compensating salespeople, and they can’t be unstuck from obsolescence any more than the Republicans can.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
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Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
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With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
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Nov. 28, 2015 11:45 AM EST Reads: 396
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Nov. 28, 2015 11:15 AM EST Reads: 409
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Nov. 28, 2015 11:00 AM EST Reads: 508
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Nov. 28, 2015 10:30 AM EST Reads: 306
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 28, 2015 10:00 AM EST Reads: 184
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Nov. 28, 2015 08:45 AM EST Reads: 431
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Nov. 28, 2015 08:45 AM EST Reads: 329
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 28, 2015 06:00 AM EST Reads: 240
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Nov. 28, 2015 05:30 AM EST Reads: 730
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 28, 2015 05:00 AM EST Reads: 359
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Nov. 28, 2015 04:00 AM EST Reads: 538
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Nov. 28, 2015 03:30 AM EST Reads: 473
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 28, 2015 03:00 AM EST Reads: 482
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
Nov. 28, 2015 03:00 AM EST Reads: 450
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 28, 2015 02:00 AM EST Reads: 579
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNub’s Data Stream Network.
Nov. 28, 2015 02:00 AM EST Reads: 328
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Nov. 28, 2015 02:00 AM EST Reads: 360