by Fronetics | Jan 19, 2016 | Blog, Current Events, Strategy, Supply Chain
The supply chain should prepare for future changes in the wake of the Paris Climate Agreement.
The 2015 Paris United Nations Climate Change Conference of the Parties (COP) was the 21st yearly meeting of its kind. It drew attention, coming off the heels of the Paris attacks. It also garnered attention because of growing concerns about storms and flooding, ice caps melting, and increasing temperatures. The twelve-day conference hosted 185 nations, and ended with major outcomes that will certainly have an impact on how supply chains will do business.
The biggest outcome from the talks is the agreement to reduce the world’s greenhouse gases significantly to keep temperatures from rising 2 degrees Celsius, and a longer-term agreement to reach net-zero emissions by the second half of the century. If this goal isn’t met, it could bring terrible outcomes globally, such as the loss of entire island nations that could go completely underwater.
Even if the goal is met, there are concerns about the irreversible damage that has been done in the past decades, which indicates the necessity of the plan. The agreement is described as, “probably the most important international agreement in history” by UN Executive Director Achim Steiner.
According to Adrian Gonzalez, president of Boston-based Adelante SCM, “It’s too soon to know what impact this will have on supply chain in the near term, but considering that the agreement is voluntary and there are no enforcement mechanisms in place, my sense is that very little will change over the next twelve months.”
Here are some things supply chain companies need to be considering in the wake of the Paris Climate Agreement, despite the future being unclear:
Assessment
According to James Allan, head of environment and climate change at risk analysis company Versik Maplecroft, “Many companies will have difficulty understanding their exposure to various climate risks, so they may need to bring new skillsets into the organisation, conduct internal studies, and update policies and internal processes.” This might be a new endeavor for companies, or one that wasn’t high on the priority list in the past.
Integration
Allan goes on to say, “A key step will be integrating climate change risks into strategic decision-making and operational risk-management processes.” We will have to wait to see what our congress decides in regards to making the Paris Agreement guidelines into law in the United States. Based on the requirements, companies may have many changes to implement into their business practices.
Partnering
Assessing how partners manage risk and plan to make changes is important, as companies will want to be on the same page. Forming new partnerships with others might also be crucial, particularly if those companies are ahead of the curve on environmental compliance. “Partnerships will also be crucial for successfully managing climate risks, including with supply chain partners, governments, business partners, civil society and the wider public,” says Allan.
We will see what comes from the Paris Climate Agreement and what it has in store for the supply chain and, on a larger scale, the world.
by Fronetics | Jan 18, 2016 | Blog, Content Marketing, Marketing, Strategy
Improve your content marketing strategy in 2016 by following these six tips.
We know that content marketing is a highly effective tool for companies of all shapes and sizes, be they B2C or B2B. (If you’re not using inbound marketing, here are five reasons why you should be.) But, considering this strategy takes considerable time, effort, and resources, are you getting the most out of your efforts?
Long gone are the days when a weekly blog and vague presence on social media will cut it — 2016 is calling for a diversified content marketing strategy that speaks to today’s sophisticated consumer base.
Here are 6 ways to improve your content marketing strategy in 2016:
1) Be mobile-friendly.
Google announced in May 2015 that the number of searches on mobile devices has now surpassed those conducted on desktops in the US. And we know that reality isn’t limited to personal Internet use. Evidence suggests B2B buyers are increasingly using mobile devices to do research, make inquiries, and purchase products. If your website isn’t mobile-friendly, your company is missing out the significant share of customers who demand mobile-optimized content. What’s more, Google now penalizes non-mobile sites in searches, meaning your website will fall further below the fold, as more companies cater to smartphone screens.
Here’s how to make your supply chain website mobile-friendly.
2) Diversify your content.
A blog for which you provide regular, original content is an excellent start . But, unfortunately in this day and age, it’s not enough. Offering content in different formats provides a richer experience for your leads, adds depth to your brand identity, and allows you to reach and connect with more consumers. There are a dizzying number of options out there, including podcasts, slideshares, videos, graphics, ebooks, and whitepapers, to name a few. Choose a couple that fit your brand best, and see where they take you. Which leads me to…
3) Do video.
Video is not just for funny cats and cover artists anymore — it’s the most popular form of content being consumed online. YouTube is the second largest search engine in the world, with more than one billion users conducting over 3 billion searches per month. What’s more, the number of videos uploaded to Facebook has increased by 94% over the last year, with more than 50% of Americans who use Facebook daily viewing at least one video per day. Some brands have capitalized on this trend. (See the Budweiser puppy commercial, viewed over 30 million times.) But there is a lot of potential there for businesses in all industries — a little creativity and some time and effort adding video to your content marketing suite could really pay off.
4) Tug at the heartstrings.
There’s a reason the Budweiser puppy video has enjoyed so much success: we love a feel-good story. An ad that evokes strong emotions makes us associate those feelings with the brand. Studies show that emotions play a leading role in B2B purchases, too, and your content marketing should leverage that idea by telling great stories and by promoting the value you offer. Content that tells a great story connects people to your brand on an emotional and intellectual level, helping earn their trust and loyalty. Similarly, by touting figures that illustrate the value your company offers its customers — like money saved, convenience, or top-of-the-line performance — you remind people what it is you can do for them. And there’s no better way to win hearts (and leads) than reminding them what they’ll get out of your relationship.
5) Focus on relationship marketing.
HubSpot identifies relationship marketing as the #1 game-changing marketing trend to tackle in 2016. While this term largely falls under the CRM umbrella, it can play an important role in your content marketing strategy as well. Providing existing customers with custom-tailored content and information shows that you understand their needs, and it makes communications infinitely more personal. You’re not just blasting out some mass communication that ignores the facts that you know about your client — for example, a mass email titled “Baby it’s cold outside!” to a client based in Florida. Modern technologies like geo-targeting and CRM software make personalizing content and communications much easier, but it will still take extra time and resources. That’s the (absolutely worth-it) cost of long-term, loyal customers earned through relationship marketing.
6) Seek professional help.
Even if you’re part of the 58% of companies that handles content in-house, a little help from the experts will only improve your results. Hiring an SEO-savvy copywriter, for instance, can impact your bottom line. Or working with a firm like Fronetics can help you develop and execute a content marketing strategy designed to grow brand awareness and to meet your specific business goals. Here are six other digital and content marketing tasks to outsource. A fresh perspective from outside your company may be just what your marketing efforts need to excel in 2016.
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When it comes to marketing we work with our clients to create and execute strategies that drive success and elevate their brand position within the industry. Unlike other firms, we align marketing programs with business objectives and, through a data driven approach, are able to deliver results with a targeted ROI. Our team is comprised of strategists, marketing professionals, writers, designers, and experts in social media. Together we leverage our experience to increase brand awareness, position our clients as thought leaders, drive meaningful engagement with prospects and customers, and help businesses grow. Learn more about what we do.
by Fronetics | Jan 14, 2016 | Big Data, Blog, Data/Analytics, Strategy, Supply Chain
Fronetics Strategic Advisors is a leading management consulting firm. We advise and work with companies on their most critical issues and opportunities: strategy, marketing, organization, talent acquisition, performance management, and M&A support.
We’ve gathered our most-read big data articles of 2015:
With current technologies, there are increasing amounts of information to be gathered and exchanged in the world, creating more opportunities for businesses to harness that information and chart a course, or to tweak processes based on that information. According to an Accenture study, “97% of executives report having an understanding of how Big Data analytics can benefit their supply chain, but only 17% said that they have implemented it in at least one supply chain function.” Read the full article.
KPMG recently conducted a survey of 144 CFOs and CIOs with the objective of gaining a more concrete understanding of the opportunities and challenges that big data and analytics present. The survey found that 99% of respondents believe that data and analytics are at least somewhat important to their business strategies; and 69% consider them to be crucially or very important. Despite the perceived value of big data, 85% of respondents reported that they don’t know to analyze and interpret the data they already have in hand (much less what to do with forthcoming data). Read the full article.
Forget for a moment the potential of adopting big data analytics throughout the entire supply chain, and consider instead how big data can untangle and integrate seemingly unrelated masses of data to solve small problems in a warehouse or distribution center. That’s exactly what this company did. Read the full article.
Executives are eager to jump on the bandwagon, too. Although only 13% of 250 executives surveyed by Accenture said they use big data primarily for predictive purposes, as many as 88% indicated big data analytics is a top priority for their company. With an increasing number of companies learning to master the precursors to developing predictive models — namely, connecting, monitoring, and analyzing — we can safely assume the art of gleaning business intelligence from foresight will continue to grow. Read the full article.
by Fronetics | Jan 13, 2016 | Blog, Strategy
Some believe that the collaborative economy is the biggest game-changer in the business sector since the Internet. You might ask, exactly what is a collaborative economy? Researchers Alexandra Samuel and Jeremiah Owyang define the term in their informative, 28-page report, The New Rules of the Collaborative Economy, as “an economic movement where common technologies enable people to get the goods and services they need from each other, peer to peer, instead of buying from established corporations.”
Peer-to-peer engagement is a powerful one, and it’s demanding that many traditional companies take note. Take Airbnb for example. This past summer, 17 million people stayed with an Airbnb host, compared to 47,000 people five years earlier in the summer of 2010. The company has revolutionized travel for millions of people, and it has shaken up the hotel industry.
Another game-changer is Uber. The ridesharing service was reported to hold 46% of total paid car rides in the first quarter of 2015, with taxis, limos, and shuttle services falling from 85% in the first quarter of 2014 down to 53% in 2015. There is no doubt that the car service industry is forever altered.
Samuel and Owyang report several interesting findings regarding the collaborative economy. For one, they found that 51% of Americans engaged in a sharing service via mobile apps or websites in 2015. And secondly, each of the defined categories — e.g., goods, services, money, transportation, and space — saw increases in consumer usage from 2014 to 2015, including crowd-funding (from 6% to 14%), spaces to stay (from 7% to 17%), and pre-owned goods (from 34% to 44%).
What does peer-to-peer offer that traditional companies can’t? Some people find these services helpful when they are engaged in a “spending fast,” or when they challenge themselves not to buy anything new for a year. At this point, however, most consumers say they’ll go with whichever route offers convenience, brand names and services, and a savings of 25%. So, the trend toward a collaborative economy could reverse if the conditions were right.
Some companies are adjusting quickly, realizing that the traditional equation of business to consumer (B2C) operations is shifting. For example: West Elm is curating and selling items from Etsy; BMW started Drive Now, an on-demand car-sharing service; and Home Depot rents tools and construction vehicles. Companies may only need to be aware, adjust, and enhance rather than start their own, new collaborative business.
The report provides for three paths to competing in the new collaborative economy:
Price
It’s no surprise that consumers are driven by price. Keeping an eye on the price points of items and the charge for services offered is critical for all businesses, whether sharing or traditional. After all, half of Americans are swayed by items that are 25% cheaper than competitors’ prices.
Convenience
People want things to be easier, clearer, simpler. One-third of conventional consumers will consider switching to sharing services if convenience is offered. Subscription offers that deliver on a regular basis and renting options are top on the wish list for convenience-seekers.
Brand
Like a lot of consumers, sharers like well-known names, and this gives traditional companies an advantage if they can add a sharing option to their current offerings. Crowd-funding and collaboration during early start-up phases, however, can help new sharing companies to build their brand and gain a loyal following.
Though not entirely revolutionary, a collaborative economy might mean better prices, convenience, and perhaps the added bonus of peer-to-peer engagement (e.g., recycling, helping, doing good). Traditional companies, be ready — a change is rolling in.
by Fronetics | Jan 12, 2016 | Blog, Leadership, Marketing, Strategy, Supply Chain, Talent
Recruiting and retaining top talent is one of the largest issues the supply chain faces today. It has, in many ways, become an industry of gaps: skills, talent, and gender, to name a few. How can companies secure their future by acquiring, developing, and keeping employees with the potential to undertake future leadership roles?
Fronetics Strategic Advisors works with clients to understand and execute on talent acquisition, performance management, learning and development, and succession management. We also work with clients to design and develop roles and responsibilities, on leadership development, mentoring and counseling, and on performance management and compensation strategies.
Here are our most-read talent articles of 2015:
While the number of full-time women in the workforce is up 15% since 1979, the number of women in the manufacturing sector is the lowest it has been since 1971.The gender gap extends more broadly to the supply chain, as well, with 70% and 80% of positions held by men. This article examines the talent crisis within the industry as an opportunity to help close the gender gap, and offers suggestions for building that bridge. Read the full article.
This interview with Rodney Apple, founder of the SCM Talent Group and supply chain recruiter for the majority of his 19-year career within the staffing industry, examines the challenges facing the industry and opportunities to address the talent crisis moving forward. Read the full article.
The outlook seems dire: by 2025, 60 million baby boomers will exit the workforce, leaving a gigantic gap when 40 million millennials take their place. What’s more, as few as 20% of the workforce will possess the broad range of skills required of 60% of all new supply chain jobs. The good news is that this looming crisis represents an ideal opportunity for recent college grads and mid-level supply chain management. Companies hoping to appeal to top candidates in the future should be proactive about meeting their professional needs through initiatives like competitive salaries and cross-functional training — or else, they might miss out. Read the full article.
Zappos offers new hires a $4,000 bonus to quit after an initial training program — and it actually has helped them retain top talent. Offering an early out to employees can be an effective method to detect personnel issues up front and ultimately can save your company from a major financial loss in the future. Read the full article.
When it comes to your career, connections matter. This article lists five reasons why building a strong network is crucial to your professional success. Read the full article.
Millennials — or, those born after 1981 — potentially could breathe new life into the graying supply chain industry. This article examines who millennials are and how companies might attract and retain talent within this oft-misunderstood generation. Read the full article.
Promising employees expect more from their employers when they outperform their peers — and not just in terms of compensation (though that is very important). When those expectations are met with disappointment, the company is at risk for losing top talent. This article discusses strategies for mitigating the loss of talented employees. Read the full article.
According to one study, only 12.5% of companies in the supply chain industry engage in formal succession planning, or the process of identifying top internal performers with the potential to fill key leadership positions. With the dearth of talent facing the supply chain, employers would be wise to invest in succession planning (and their most promising employees) — particularly through these three aspects of the process. Read the full article.
Focusing on education and training, employee retention and growth, and rethinking the talent pool itself does not address the bigger issue in the supply chain skills gap: the industry just isn’t perceived as sexy. What can companies do to overhaul their image and attract new and qualified talent? Read the full article.
Replacing employees is extremely costly — anywhere from 50 to 400% of their annual salaries, it is estimated — yet more than 2 million people voluntarily leave their jobs each month. Companies who are not tending to their human resource assets may be taking a major financial hit. Here are five employee retention strategies to help create a culture where employees are satisfied and interested in working for you long term. Read the full article.
by Fronetics | Jan 11, 2016 | Blog, Content Marketing, Logistics, Marketing, Social Media, Strategy, Supply Chain
Over the past year we have helped many clients both develop and execute social media strategies. We have also disseminated information on how companies can use social media as an effective business tool.
Here are the top 10 social media articles from 2015:
Leads are essential to the growth of your business, and your marketing strategy is built around finding and connecting with leads. So when 92% of all marketers indicate that their social media efforts have generated more exposure for their businesses, you should take note and make social media part of your prospecting strategy. Read the full article.
The supply chain makes the world go round. In order to be one of the leaders in the chain, it’s important to remember that internet users make up nearly half of the world’s population and that social media is on the rise. Don’t miss that boat. Read the full article.
Many transportation and logistics companies think about social media and how to use it, but cite a lack of time as a reason they haven’t explored the various platforms. Thinking about how social media can work for your logistics or transportation company is the first stop towards progress. Read the full article.
Social media is an ideal marketing platform for small businesses because it can be relatively inexpensive but have a high impact on growth. With a targeted strategy in place and a little time, your company can cultivate your brand, engage with customers, and form business relationships. And because small companies can be nimble, you can continually adjust your strategy to ensure the return on investment keeps paying off. Two companies that have seen social media to be effective: Coyote Logistics and Transplace. Read the full article.
The social economy is estimated to be $1.3 trillion U.S. dollars annually. Social media is more than a collection of personal commentary, photos, and inspirational quotes. Increasingly, social media creates an opportunity to gather information, and social media is becoming a useful tool for businesses to connect with other businesses and clients. Although Facebook is notorious for gathering information, social media companies are not the only companies who can gather intelligence. Read the full article.
Offering unparalleled access to leads and face to face communication with prospects and customers, trade shows prove to be a successful marketing strategy for many companies. But is your company making the most of trade shows? Companies that integrate modern digital communication practices into tired trade show routines are likely to increase lead to customer conversion rates while shortening lead and sales cycles. Read the full article.
Companies within the logistics and supply chain industries have been slower to participate in social media than other industries. The primary reason being because of a lack of understanding of what social media is and the role it can play for business. Unfortunately, companies who do not participate in social media miss out on opportunities – and revenue. Read the full article.
Using the information and intelligence gathered is essential. There is; however, another critical element: engagement. Engagement is a differentiator. Without engagement you are a lurker. You don’t want to be a lurker. Read the full article.
Social media has been found to be a strategic tool for logistics companies. Check out our infographic. Read the full article.
Through the use of social media you can enable consumers to make more informed purchase decisions. Additionally, you can use social media to answer questions and better educate consumers on how to use your product thereby reduce no fault found returns. Read the full article.
Social media is an incredible tool; however, for it to be effective it must be driven by strategy, be consistent, and must have someone managing the execution. At Fronetics, our social media strategists distribute content, curate content, engage your target audience, and monitor your social networks. We develop a social media strategy that aligns with your company’s goals. We analyze your competition, classify your target audience & cultural attributes, identify the influencers in your industry, recommend platforms, detail best engagement practices, create social media schedules, and identify specific tactics that deliver results. Through the proper execution of social media, your brand is given a voice and personality, and becomes more accessible to your target audience.
