tag:www.econsultancy.com,2008:/topics/talent-recruitment Latest Talent & recruitment content from Econsultancy 2017-01-03T14:17:12+00:00 tag:www.econsultancy.com,2008:BlogPost/68656 2017-01-03T14:17:12+00:00 2017-01-03T14:17:12+00:00 Will the digital skills gap hold back young entrepreneurs? Nikki Gilliland <p>So what’s behind this entrepreneurial boom? Here’s more on the study and why millennials in particular are turning towards non-traditional roles.</p> <h3>Startup inspiration</h3> <p>According to Wix’s study, 44% of people would prefer to be their own boss rather than work for somebody else. Which is hardly surprising, I suppose?</p> <p>However, one statistic that <em>is</em> quite startling is that over a quarter of people believe they could make up to £48,000 pounds a year if they turn their hobby into a business.</p> <p>That’s quite a bold claim, especially taking into consideration the industries that people are interested in.</p> <p>From those considering starting an online business in the coming months, 19.2% of people cited the startup category of cooking, while 18.5% cited baking, 18.3% photography and 16% sports.</p> <p>As we can gather from this, there is a growing shift towards creative roles, with the majority choosing this over technology or finance-driven industries.</p> <p>Interestingly, many respondents cited TV shows like the Great British Bake Off and The Apprentice as the inspiration for their own entrepreneurial goals, as well as motivational online content like TED Talks.</p> <p><iframe src="https://www.youtube.com/embed/bvAEJ8G9l9U?list=PLOGi5-fAu8bFkzTIDgxljLEbCAyvzpyhB&amp;wmode=transparent" width="854" height="480"></iframe></p> <p>Similarly, with millennials now <a href="https://www.comscore.com/Insights/Blog/What-Millennials-YouTube-Usage-Tells-Us-about-the-Future-of-Video-Viewership" target="_blank">preferring to watch YouTube</a> rather than traditional TV, perhaps we can also put it down to the example shown by <a href="https://econsultancy.com/reports/the-rise-of-influencers/">social media influencers</a> – a career path that is typically built on self-motivation and self-expression.</p> <p>For younger generations, it is equally clear that happiness is a big motivation, with 49% of respondents saying that doing something they love is far more important than earning lots of money or having an impressive job title.</p> <p>Luckily, digital companies do appear to be cottoning onto this trend, with many more introducing workplace initiatives to <a href="https://econsultancy.com/blog/68487-how-can-companies-attract-and-retain-talent-in-the-digital-age" target="_blank">attract and retain talent</a>, such as flexible and remote working and training opportunities.</p> <h3>Biggest hurdles</h3> <p>Despite an increased desire to work independently or become self-employed, there are undoubtedly still huge barriers to success.</p> <p>Although 70% of Brits in the study said that finance was the biggest factor stopping them from launching a startup, 57% said a lack of marketing skills, while 49% said a lack of digital skills like <a href="https://econsultancy.com/reports/search-engine-marketing-seo-digital-marketing-template-files/">SEO</a> and analytics. This isn’t big news, of course.</p> <p>Last year, the House of Commons Science and Technology Committee published a report on the ‘digital skills crisis’, highlighting the fact that 12.6m of the adult UK population lack basic digital skills.</p> <p>The report urged the government to take action, calling for increased focus on digital skills in apprenticeships, universities and schools.</p> <p>However, while an investment in education is certainly required, we cannot ignore the untapped potential that already exists within businesses, with many also calling on companies to ensure employees develop their digital competence.</p> <p>Similarly, with 47% of employees having never taken steps to boost their digital skills - it is also vital for employers to promote the value of it.</p> <p><img src="https://assets.econsultancy.com/images/0008/2570/digital_skills.jpg" alt="" width="650" height="433"></p> <h3>Path to success</h3> <p>While the digital skills gap remains a big barrier for would-be entrepeneurs - and the reason why turning a hobby into an online business might remain a pipe dream rather than a reality for some - the desire to do so still reflects the change in how younger generations perceive work.</p> <p>Alongside increased flexibility, this also boils down to the kind of work young people are keen to get involved in.</p> <p>Deloitte’s 2016 <a href="https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html" target="_blank">Millennial Survey</a> showed that, despite being known as the “me me me” generation, millennials have a greater desire to work for companies that have a positive impact on society – with the majority agreeing that success should be measured in terms of more than just financial performance.</p> <p>In fact, millennials that intend to stay with their organisation for at least five years are far more likely to report a positive culture, with an alignment of values being incredibly important for job satisfaction.</p> <p><img src="https://assets.econsultancy.com/images/0008/2573/Purpose.JPG" alt="" width="760" height="472"></p> <p>Interestingly, this was also reflected in our series of interviews with the Top 100 Disruptive Brands of 2016, with executives citing shared values, creativity and a lack of ego as some of the <a href="https://econsultancy.com/blog/68483-hiring-digital-talent-what-skills-characteristics-do-startups-value" target="_blank">skills and characteristics most valued</a> by startups.</p> <h3>In conclusion...</h3> <p>With a growing percentage of young people looking into self-employment, it remains to be seen how the digital skills gap will affect the ratio of success to failure.</p> <p>Perhaps then, if the UK Government succeeds in driving action to combat the issue, we can expect tomorrow's workforce - otherwise known as Generation Z - to be the real digital entrepreneurs of the future.</p> <p><em><strong>To see how your digital knowledge stacks up, take <a href="https://econsultancy.com/training/digital-skills-index-lite/" target="_blank">Econsultancy’s Digital Skills Index</a>.</strong></em></p> <p><em><strong>Or to improve your skills, you can also check out our range of digital marketing <a href="https://econsultancy.com/training/" target="_blank">training courses</a>.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68533 2016-11-16T12:42:00+00:00 2016-11-16T12:42:00+00:00 Low growth predicted for digital agency revenues in 2017: Report Nikki Gilliland <p>The research also found that on average agencies predict their daily rates will grow by only 2% in 2017.</p> <p><img src="https://assets.econsultancy.com/images/0008/1513/Predicted_growth.JPG" alt="" width="600" height="572"></p> <p>This news comes from the <a href="https://www.econsultancy.com/reports/digital-agency-rate-card-survey-2016/">Digital Agency Rate Card Report</a>, which is based on an online survey of 398 UK digital agencies.</p> <h3>Predicted growth is down but positivity is up</h3> <p>So what’s behind the downturn?</p> <p>Many respondents cited uncertainty over Brexit as the biggest obstacle in the near future, and more specifically, its impact on clients' budgets and funding capabilities.</p> <p>A surprising number also mentioned resourcing, with difficulty managing freelancers and finding the right people in a competitive market appearing troublesome.</p> <p>Despite this level of uncertainty, many agencies reported having a high level of confidence in their business for the next 12 months.</p> <p><img src="https://assets.econsultancy.com/images/0008/1514/Optimism.JPG" alt="" width="628" height="465"></p> <p>Though it might sound contradictory in relation to the previous finding, this positivity stems from the weaker pound and the opportunities it presents on an international level.</p> <h3>Offline networking growing in importance</h3> <p>Finally, when it comes to attracting new clients, the majority of agencies said recommendations and referrals are the most effective tool.</p> <p>Though this method is seen as marginally less effective than it was in 2014, other practices like offline networking and email marketing have seen a spike in perceived importance.</p> <p><em><strong>What are the most effective business development methods or ways of getting new clients? (2014 vs. 2016)</strong></em></p> <p><img src="https://assets.econsultancy.com/images/0008/1537/Screen_Shot_2016-11-16_at_12.45.51.png" alt="" width="774" height="891"></p> <p><strong>For lots more on this topic, you can download the full <a href="https://www.econsultancy.com/reports/digital-agency-rate-card-survey-2016/">Digital Agency Rate Card Report</a>.  </strong></p> tag:www.econsultancy.com,2008:BlogPost/68520 2016-11-11T14:28:00+00:00 2016-11-11T14:28:00+00:00 10 dumbfounding digital marketing stats from this week Nikki Gilliland <p>But, if there’s one thing that’ll help us digest a rather surreal few days, it is some good old facts and figures.</p> <p>This week’s stats roundup includes news about online retail sales, dark posts, Instagram users and, yes, election night response.</p> <p>You can also download the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a> for more.</p> <h3>Online retail sales stronger than expected in 2016</h3> <p>The latest data from IMRG and Capgemini shows that this year’s online retail growth sales have been higher than expected.</p> <p>Despite the economic uncertainty following Brexit, growth is currently running at 15.1% for the months January to September compared to the same period in 2015. </p> <p>Now, with just three months until the end of the year, the overall forecast has changed to 15%+ annual growth for 2016 (IMRG's original estimate was 11%).</p> <h3>John Lewis Christmas ad garners over 200,000 shares in an hour</h3> <p>It’s always a hotly anticipated sign that Christmas is around the corner, but <a href="https://econsultancy.com/blog/68512-john-lewis-combines-tv-ad-with-snapchat-lens-and-email/">this year’s John Lewis ad</a> has smashed all previous records.</p> <p>Within the first hour, Buster the Boxer had already garnered 218,330 video shares on Facebook, Twitter and YouTube.</p> <p>This is in comparison to last year’s Man in the Moon ad, which saw just 174,717 shares within the hour.</p> <p>Consequently, the 2016 ad looks set to be John Lewis’s most-shared ad of all time.</p> <p><iframe src="https://www.youtube.com/embed/sr6lr_VRsEo?wmode=transparent" width="640" height="360"></iframe></p> <h3>53% of investors cite AI as the biggest threat to jobs</h3> <p>In a Venture survey of over 200 investors at this year’s Web Summit, 53% agreed that artificial intelligence poses the biggest threat to jobs in the digital and tech industries.</p> <p>Similarly, a whopping 93% said that governments are unprepared for the impact of AI.</p> <p>Here are some other results from the poll:</p> <ul> <li>82% of investors agreed that Brexit is damaging to the European economy.</li> <li>39% said the least innovative major tech company is Apple.</li> <li>94% of investors would have voted for Hillary Clinton, with 89% predicting the democrat candidate was going to win.</li> </ul> <h3>More businesses are investing in dark posts on Facebook</h3> <p>According to the 2017 Facebook Advertising Budget Benchmark Index, more companies are investing their time and budget in <a href="http://www.socialmediaexaminer.com/4-ways-to-use-dark-facebook-posts-for-business/">dark posts</a> rather than boosted posts on Facebook.</p> <p>While the average total spend for a dark post is nearly twice as much as that for a boosted post, it is now seen as a viable strategy for larger businesses with bigger than average Facebook audiences. </p> <p>This is because the average number of likes for a business’ Facebook page with active dark posts is 845,086, compared to just 592,797 without. </p> <p>What’s more, dark posts tend to be active for around 14 days longer.</p> <p><img src="https://assets.econsultancy.com/images/0008/1416/dark_posts.JPG" alt="" width="720" height="456"></p> <h3>Millennials are more likely to buy a product after watching a video ad</h3> <p>New <a href="http://groundbreakproductions.co.uk/the-future-of-audio-visual-content/" target="_blank">research from Groundbreak Productions</a> has uncovered the kind of video adverts that are most likely to make consumers spend money.</p> <p>From a survey of 1,000 UK consumers, 42% said that they like video ads that are informative and 'to the point'. Consequently, 22% would be more likely to buy a product after watching one. </p> <p>In terms of the biggest spenders, the report suggests that ads have more an effect of millennials, with one in five being more likely to purchase a product or service after watching a video ad. This is compared to 12% of 45-54 year olds, 13% of 55-64 year olds and 6% of those aged 65 and over.</p> <p>Interestingly, just 8% of consumers say they are receptive to celebrity-endorsed ads, with only 3% being more likely to purchase after watching one.</p> <h3>Election night peaks with 96,000 tweets per minute</h3> <p>If you stayed awake throughout election night to hear the final result, 4:20am was said to the be the peak moment for Twitter activity in the UK.</p> <p>This is the latest data from social media tracking company, Spredfast, which also analysed how the situation unfolded.</p> <p>Throughout the day, hashtags supporting Hillary accounted for four times the volume as Trump’s campaign, however, this gradually shifted over time. (See below graph).</p> <p>Data also shows that there was a 342% increase in the word "shocked" during the last nine hours, alongside the phrase "no words" being used 3,900 times in the final six hours.</p> <p><img src="https://assets.econsultancy.com/images/0008/1414/Election_analysis.png" alt="" width="507" height="195"></p> <h3>Instagram’s UK community grows to 18m</h3> <p>I recently wrote about the top 10 <a href="https://econsultancy.com/blog/68482-the-uk-s-top-10-most-popular-lifestyle-brands-on-instagram" target="_blank">most influential UK lifestyle brands on Instagram.</a></p> <p>In other news, it has just been announced that the platform’s community has reached 18m monthly users in the UK – an increase of 29% in just one year. Also, time spent watching video on the platform is up 150% over the past six months.</p> <p>This comes in the year the platform launched <a href="https://econsultancy.com/blog/68142-instagram-stories-what-do-marketers-need-to-know/">Instagram Stories</a>, introduced a new logo and expanded its Explore feature. </p> <h3>B2C marketers have superior social knowledge than B2B</h3> <p>The latest social media snapshot from the DMA has revealed that B2C marketers spend more time on social than those working in B2B. </p> <p>A study found that people in the B2C industry spend more than 75% of their time working on social, with this percentage answering more questions correctly in the DMA survey. </p> <p>In terms of knowledge gaps, social specific areas like Pinterest’s Rich Pin and the length of Instagram video resulted in the biggest number of incorrect answers. </p> <p><img src="https://assets.econsultancy.com/images/0008/1415/DMA_social_snapshot.JPG" alt="" width="750" height="556"></p> <h3>Half of consumers have an unused email account</h3> <p>The DMA’s Consumer Email Tracker 2016 research has discovered that nearly half of all UK consumers have a ‘ghost’ email account, meaning that it is still active but no longer used. </p> <p>Consequently, this means that companies could be sending unread messages to around 19m email addresses.</p> <p>According to the research, 62% of consumers typically abandon an email address because they are receiving too many unwanted messages. </p> <p>This behaviour is even more prevalent among younger people, with 58% having abandoned an account for this reason compared to just 27% of older consumers. </p> <h3>Christmas spending looks set to increase post-Brexit</h3> <p>Despite initial fears over Brexit, new research from Accenture has revealed that retail spending could increase this festive season.</p> <p>In a survey of 1,500 UK consumers, 85% of respondents said that they are likely to spend the same or more money in 2016. </p> <p>However, people <em>are</em> looking to get more from their money, with 74% saying they will shop around to get the lowest price.</p> <p>The survey also found that 57% of shoppers say their shopping habits have been unaffected by the UK referendum result. </p> <p>Similarly, only 11% say they are now more cautious about spending on non-essentials.</p> <p><img src="https://assets.econsultancy.com/images/0008/1413/Accenture.png" alt="" width="502" height="482"></p> tag:www.econsultancy.com,2008:BlogPost/68508 2016-11-10T10:07:50+00:00 2016-11-10T10:07:50+00:00 The four goals underpinning Deliveroo’s growth strategy Nikki Gilliland <p>So, in the midst of all this expansion, what are the future hopes for the business?</p> <p>I recently heard William Shu, the CEO of Deliveroo, speak at Web Summit on this topic.</p> <p>Here are four key takeaways from what he said, outlining the company’s main goals.</p> <h3>Becoming more affordable</h3> <p>Deliveroo’s business model has previously been criticised, with riders recently striking due to <a href="https://www.theguardian.com/business/2016/aug/15/deliveroo-workers-strike-again-over-new-pay-structure" target="_blank">changes in pay structure</a>. </p> <p>While William was quick to dismiss any unfairness, suggesting that the company strives to create a fair deal for all parties, he did admit that the price of a Deliveroo order from a consumer perspective could benefit from being lowered.</p> <p>With the likes of Domino's Pizza and JustEat costing around £20 and £18 per order respectively, Deliveroo is on average £23-£25 in the UK. </p> <p>Consequently, the company is unable to follow through on the idea that it acts as an affordable and accessible replacement for home cooking.</p> <p><img src="https://assets.econsultancy.com/images/0008/1348/deliveroo.jpg" alt="" width="470" height="280"></p> <p>This is where the new ‘Roobox’ model comes in.</p> <p>An off-site kitchen initiative, Roobox essentially allows restaurants to partner with Deliveroo or expand into new areas with less cost and lower risk.</p> <p>Without the need for a highly visible location (in a busy high street or town centre), this takes away the need for rent and utilities.</p> <p>Currently being trialled in London, William promises that if successful, lower prices for consumers would also follow.</p> <h3>Reaching those outside of urban areas</h3> <p>As well as lowering its price point, Deliveroo is also intent on quashing the notion that it is a somewhat elitist and urban-centric brand. </p> <p>Of course, this notion is almost impossible to argue with - Deliveroo <em>is</em> technology-driven and targeted to the middle classes.</p> <p>However, again William cited Roobox as the first step in building a more accessible brand for all consumers. </p> <p>By bringing its services to areas that have a larger residential population but a lower amount of restaurants available, it hopes to open up the brand to a wider audience. </p> <h3>Protecting the rights (and wishes) of riders</h3> <p>With restaurants, consumers and riders to consider, keeping everyone happy was always going to be a tough call.</p> <p>With recent strikes regarding pay, it appears the riders might have ended up with the worst end of the deal.</p> <p>However, when faced with questions about the viable nature of a career in the on-demand economy, William was emphatic about the positive response from most of Deliveroo’s workforce.</p> <p>Undertaking regular polls to gauge employee satisfaction, he cited three factors that are most important to Deliveroo riders above anything else.</p> <p>First, it is the ability to work whenever they want, with flexible hours allowing them to take on the job alongside other careers.</p> <p>Second, and rather surprisingly, is physical fitness.</p> <p>With 80% of Deliveroo riders in London using bicycles, William suggested that active work is a bigger incentive than you might assume.</p> <p>Lastly, there is the pay. And sure, the recent wage-related argument is hard to ignore.</p> <p>However, Deliveroo is firm in its stance that the new structure actually goes in the worker’s favour, extending their flexibility and giving them the potential to earn more money during peak hours.</p> <p>Whether or not this is true remains to be seen.</p> <p>Moreover, looking even further into the future, what about the idea that all riders will eventually be replaced by automated delivery anyway?</p> <p>While William was reluctant to say if this idea was even on Deliveroo's radar, his answer was at least slightly heartening for the aforementioned riders themselves. </p> <p>Explaining that the growth of new technology will lead to fewer jobs for society as a whole, not just Deliveroo, he suggested that – as a company with technology at its core - it is its responsibility to look at what can be done to protect workers.</p> <h3>Investing in international expansion</h3> <p>Lastly, with such rapid growth in London and other big cities, Deliveroo looks set to build on this by rolling out international expansion.</p> <p>So, what’s been behind the company’s intense growth?</p> <p>William cites the drive and self-motivation of his team, whereby an autonomous and creative working culture has helped to steer the direction of the company.</p> <p>In terms of advice for others, he also emphasises the importance of having an almost irrational passion for a project – not just the desire to be the CEO of a company.</p> <p>Hearing him speak, it is evident that William’s passion is the driving force behind Deliveroo's success.</p> <p>Built from a desire to improve the lacklustre food delivery service in London – let’s hope the potential to scale up doesn’t mean a diversion from this simple vision.</p> <p><em>Deliveroo featured in Econsultancy’s list of the Top 100 Disruptive Brands 2016. <a href="https://econsultancy.com/reports/top-100-disruptive-brands-2016/">Download the full report to find out more</a>.</em></p> tag:www.econsultancy.com,2008:BlogPost/68487 2016-11-09T14:09:00+00:00 2016-11-09T14:09:00+00:00 How can companies attract and retain talent in the digital age? Donna-Marie Bohan <p>The House of Commons Science and Technology Committee published <a href="http://www.publications.parliament.uk/pa/cm201617/cmselect/cmsctech/270/270.pdf" target="_blank">a report</a> earlier this year highlighting the ‘digital skills crisis’.</p> <p>It is estimated that this skills gap costs the UK economy £63bn a year in lost additional GDP. Urgent action is now required to tackle this skills shortage.</p> <h4>So how can organisations respond?</h4> <p>Econsultancy’s <a href="https://econsultancy.com/reports/digital-marketing-organisational-structures-and-resourcing-best-practice-guide/" target="_blank">Organisational Structures and Resourcing Best Practice Guide</a> illustrates that finding staff with suitable digital skills is considered to be the most significant challenge or barrier to digital progress within organisations.</p> <p>And recruiting staff with the right mix of digital skills is difficult, particularly for SMEs or companies that aren’t based in large urban centres. </p> <p>This report also highlights that data/analytics, content marketing and website design and build are some of the most challenging areas for which to recruit. A lot of organisations are finding that they don’t have the analysts to make sense of data. </p> <p>There is now a trend towards recruiting top-of-the-funnel marketers and towards hiring for behaviour and attitudes rather than qualifications.</p> <p>Another Econsultancy report, <a href="https://econsultancy.com/reports/skills-of-the-modern-marketer/" target="_blank">Skills of the Modern Marketer</a>, illustrates the growing importance of softer interpersonal skills in the modern marketing organisation, alongside more vertically-focused expertise.</p> <p>As <a href="https://econsultancy.com/blog/67868-what-skills-do-employers-look-for-when-hiring-digital-marketers/" target="_blank">a result</a>, recruiters are increasingly looking for candidates who are curious, flexible as well as data-driven.</p> <p>In terms of what companies are doing to tackle the recruitment challenge, there are a number of initiatives and trends that we are seeing.</p> <h4>1. Creating a company culture to attract talent </h4> <p>In order to become the employer of choice for millennials, companies are introducing initiatives such as: </p> <ul> <li>Empowering and incentivising employees through stock-option plans, project leadership responsibilities and training and development opportunities.</li> <li>Building creative and comfortable workspaces that attract digital talent (Facebook and Google are great examples).</li> <li>Flexible and remote work options.</li> <li>Collaboration and knowledge sharing tools e.g. Slack and Yammer, as well as hardware preferences such as bring your own device. </li> </ul> <p>Since millennials align themselves with technology and demonstrate different behaviours and preferences, it makes sense for organisations to introduce initiatives such as these to improve recruitment, staff retention and employee satisfaction.</p> <p><em>Google offices in Soho, designed to encourage collaboration and creativity</em></p> <p><a href="https://www.flickr.com/photos/martinvars/7176331590"><img src="https://assets.econsultancy.com/images/0008/1138/Google_workspace.jpg" alt="" width="640" height="427"></a></p> <h4>2. Education outreach</h4> <p>Some companies have begun developing apprenticeships and school leaver programmes to attract young people who are developing technology skills at school or independently.</p> <p>For example, Lockheed Martin, an American aerospace, defence and advanced technologies company, <a href="http://www.lockheedmartin.co.uk/us/who-we-are/community/education.html">supports STEM education outreach activities</a>.</p> <p>Working with universities, colleges and schools to create a workforce with the right digital skills is a smart move towards finding and creating the digital workforce of the future. </p> <h4>3. Mining your own organisation for hidden talent</h4> <p>Many organisations are accepting that workers will come and go, and developing procedures to identify staff to upskill or move laterally within the company into new roles is a means of dealing with the challenge of recruiting and retaining staff.</p> <p>Regularly assessing employee’s competencies and matching these with in-demand skills can help with this.</p> <p>There is also a trend towards running employee exchange schemes with other digital organisations and employee rotation schemes, such as those run by P&amp;G, Google and Amazon, help with the sharing and development of new skills.</p> <p>And when talent has left the organisation, a forward-looking strategy of <a href="https://econsultancy.com/blog/67290-how-alumni-could-help-hr-combat-the-digital-skills-shortage/" target="_blank">creating alumni groups</a> can be used to bring back talent and utilise former employee networks.</p> <h4>4. Social recruitment</h4> <p>Social can be used to create a digital referral scheme whereby employee discussions are monitored on social platforms in order to source high-calibre talent.</p> <p>We've previously written about <a href="https://econsultancy.com/blog/66237-five-ways-to-make-social-media-a-positive-recruiting-tool/">how social can be used as a positive recruitment tool</a>.</p> <p>And you can read more about brands that are leading the way in terms of attracting the best digital talent in <a href="http://www.tiffanystjames.com/companies-attracting-best-digital-talent/">an article by Tiffany St James</a>, a digital transformation strategist and speaker who has written about the social recruitment trend.</p> <h4>5. Online gig economy </h4> <p>Another trend we are seeing is organisations benefitting from the online gig economy or on-demand workforce.</p> <p>For example, Upwork is an on-demand freelance talent marketplace, which speeds up talent recruitment. Unilever, Panasonic, Pinterest, Microsoft and Amazon have all used its services. </p> <h4>In summary...</h4> <p>The above examples highlight the significance of innovation and the fundamental role that employers can play in preparing the workforce for the future.</p> <p>The pace of <a href="https://econsultancy.com/training/digital-transformation/">digital transformation</a> is showing no signs of abating.</p> <p>In order to combat the growing digital skills deficit, it is important now more than ever for organisations to experiment with recruitment strategies and to educate and provide employees with the advanced skills needed to shape the digital economy.   </p> <p><em>To benchmark your own knowledge, take <a href="https://econsultancy.com/training/digital-skills-index-lite/">Econsultancy’s Digital Skills Index</a>.</em></p> <p><em>And to improve your skills, check out our range of <a href="https://econsultancy.com/training/">digital marketing and ecommerce training courses</a>.</em></p> tag:www.econsultancy.com,2008:BlogPost/68492 2016-11-04T09:19:18+00:00 2016-11-04T09:19:18+00:00 How can marketers increase their business impact and career success? David Moth <p>Professor Barwise’s talk looked at how marketers can broaden their influence within their organisations, offering some tangible advice on ways to increase their power and status.</p> <p>In this post I’ll give an overview of his recommendations, beginning with the barriers faced by marketers.</p> <h3>Marketing matters</h3> <p>Readers will be heartened to hear that Professor Barwise has empirical proof that marketing is important.</p> <p>Most tellingly, research shows that c-suite executives are generally paid less in firms with strong brands.</p> <p>The logic is that people are willing to accept a lower salary to work for a prestigious brand – and it’s largely the marketing department that built those brands in the first place.</p> <p>A separate study showed that having a CMO among the top team at a company, alongside an influential marketing department, helps to drive improved business performance.</p> <p><em>(All the images in this post are photos I took of the Professor's slides. Apologies for the low quality of my snaps.)</em></p> <p><img src="https://assets.econsultancy.com/images/0008/1182/marketers_effectiveness.jpg" alt="" width="800" height="472"></p> <p>However, Barwise’s own research has shown that marketers have limited business impact and career success.</p> <p>The crux of the issue is that while marketing is important, marketers themselves often aren’t.</p> <p>His research, handily packaged in his book <em>The 12 Powers of a Marketing Leader</em>, is based on a survey of 1,200+ senior marketers, 360-degree assessments of 7,000+ executives, and 100+ departmental interviews. </p> <h3>Marketing gap</h3> <p>The Professor’s research identified three major gaps that explain why marketers aren’t naturally influential and important.</p> <p>These are:</p> <h4>1. Trust gap</h4> <p>Marketing is mostly about the future, be that planning campaigns or events, or predicting a return on investment.</p> <p>People are understandably sceptical about predictions of future success, as there’s always a degree of guesswork involved.</p> <p>Marketers will always face a trust deficit when stood next to someone from finance who can report on actual business performance.</p> <h4>2. Power gap</h4> <p>In Professor Barwise’s own words:</p> <p>“How many people in a company are involved in creating the customer experience? Many.</p> <p>“But how many of those people report to marketing? Few. In fact, most of them can pretty much ignore you if they want.”</p> <p>Marketers have to earn their colleagues' trust and support in order to exert any influence.</p> <h4>3. Skills gap</h4> <p>Marketers will be well aware that their industry is changing at an astonishing rate.</p> <p>The Professor said that there’s too much to learn and everything changes too quickly, so it’s impossible for anyone to be an expert in everything.</p> <p>Instead marketers are becoming more specialized in certain areas (e.g. <a href="https://econsultancy.com/training/courses/email-marketing">email</a>, <a href="https://econsultancy.com/reports/paid-search-marketing-ppc-best-practice-guide/">PPC</a>), which further widens the skills gap.</p> <h3>How can marketers achieve influence within their business?</h3> <p>Marketers who have had a broader impact within their business have generally done so because they are strong leaders.</p> <p>They have made marketing important through their ability to influence others, achieving success by bridging the three gaps and mobilizing their bosses and colleagues.</p> <p><img src="https://assets.econsultancy.com/images/0008/1183/leadership_skills.jpg" alt="" width="800" height="475"></p> <h3>Most important leadership behaviours</h3> <p>Professor Barwise’s book identifies a number of leadership behaviours that marketers must exercise in order to achieve greater success.</p> <p>He was kind enough to share the most important behaviours during his talk, beginning with:</p> <h4>1. Close the trust gap and mobilize your boss </h4> <p>To close the trust gap, marketers must tackle the big issues.</p> <p>Marketers are faced with competing sets of priorities: their boss’s needs and the customer’s needs.</p> <p>Some of these needs will overlap, creating an area that Professor Barwise called... ‘the value creation zone’.</p> <p><img src="https://assets.econsultancy.com/images/0008/1181/the_v_zone.jpg" alt="" width="800" height="466"></p> <p>By identifying and solving problems within the value creation zone, marketers will find their colleagues put more trust in their business savvy.</p> <p>This slide shows how marketers who focus on big issues and always deliver returns tend to achieve more business impact and career success.</p> <p><img src="https://assets.econsultancy.com/images/0008/1184/mobilize_your_boss.jpg" alt="" width="800" height="458"></p> <h4>2. Bridge the power gap, mobilize your colleagues by walking the halls</h4> <p>Everyone within your company will have their own priorities.</p> <p>They might pay lip service to marketing priorities during a meeting, but will likely revert to business as usual once you’ve left the room.</p> <p>Professor Barwise recommended “walking the halls” to mobilize your colleagues and get them to share your vision.</p> <p>But as well as putting in face time, you need a great story that will get under their skin and persuade them to work towards your goals.  </p> <p>While nobody has 30 seconds to be interrupted, we all have 30 minutes to hear a great story.</p> <p>Walk the halls and tell a great story. Sounds very simple, doesn’t it? Here's the proof that it's effective.</p> <p><img src="https://assets.econsultancy.com/images/0008/1185/mobilize_your_colleagues.jpg" alt="" width="800" height="476"></p> <h4>3. Mobilize your team</h4> <p>As mentioned, it’s simply not possible to be an expert in all aspects of marketing.</p> <p>But leading marketing isn’t the same as doing marketing.</p> <p>Your role as a marketing leader is to build a team with the best mix of skills for your brand or strategy.</p> <p>Some things to think about in relation to this point:</p> <ul> <li>What are the distinctive skills that will help your company make the biggest impact in your market? Which creative or technical skills do you need in your team?</li> <li>Instil a sense of trust in your team. Don’t micromanage everything they do, just ask to see the results and then give advice or recommendations for future projects.</li> </ul> <p>Here's the Professor's slide to support his advice, and you can also download Econsultancy’s best practice guide on <a href="https://econsultancy.com/reports/digital-marketing-organisational-structures-and-resourcing-best-practice-guide/">Digital Marketing Organisational Structures and Resourcing</a>.</p> <p><img src="https://assets.econsultancy.com/images/0008/1186/mobilize_your_team.jpg" alt="" width="800" height="457"></p> <h4>4. Inspire others. Become a leader of leaders </h4> <p>You can’t tell your boss what to do, and as a manager you shouldn’t be constantly ordering your team around. If you do you’re unlikely to keep hold of the best employees.</p> <p>It’s easier said than done, but you should aim to inspire your boss and colleagues so they put their faith in you and want to follow you.</p> <p>And one final slide to prove the value of learning to be a leader.</p> <p><img src="https://assets.econsultancy.com/images/0008/1187/mobilize_yourself.jpg" alt="" width="800" height="479"></p> tag:www.econsultancy.com,2008:BlogPost/68483 2016-11-03T12:05:11+00:00 2016-11-03T12:05:11+00:00 Hiring digital talent: What skills & characteristics do startups value? Nikki Gilliland <p>It’s not always easy to find the right kind of talent, of course. </p> <p>We recently spoke with six executives from the <a href="https://econsultancy.com/reports/top-100-disruptive-brands-2016/" target="_blank">Top 100 Disruptive Brands list</a> – published in association with Marking Week – to get their advice on the topic.</p> <p>You can see the full interviews in the video below, or read on for a summary of what they said.</p> <p><iframe src="https://player.vimeo.com/video/187970235" width="640" height="360"></iframe></p> <h3>A culture fit</h3> <p>Many of the executives we spoke to cited the value of finding talent that reflects the unique culture of their company.</p> <p>For Justin Basini, Co-Founder and CEO of Clear Score, this is the most important factor – even above and beyond an impressive CV.</p> <blockquote> <p>Our approach to recruiting involves lots of interviews and tests. Most people that we come across can do the job that we’re asking them to do - the key thing for me is if they are a cultural fit. </p> <p>People who are slightly quirky, who have similar interests to us. We bring them in and we spend a lot of time in those first 12 weeks making sure that they really settle into the culture brilliantly.</p> </blockquote> <h3>An alignment of brand values</h3> <p>During the early days of a startup, it is important to develop a strong brand vision – along with a set of characteristics or values that embody this.</p> <p>These values extend to the people the company employs, too.</p> <p>Kirsty Emery, Co-Founder of Unmade, emphasises how her company is built on this notion.</p> <blockquote> <p>When we’re hiring, we look for people who are creative and innovative. They are two important pillars and values within our company, so it’s something we look for in everyone who joins our team. </p> </blockquote> <h3>A willingness to experiment</h3> <p>Startups tend to have a very flat structure, which means there can often be little time or a lack of resources to hand-hold new employees. </p> <p>As a result, many companies rely on new people to be able to take the initiative. </p> <p>Andy Hobsbawm, Co-Founder and CEO of Evrythng, highlights how this characteristic is vital in his technology-driven industry.</p> <blockquote> <p>Specifically, for us in terms of how aptitude and attitude fit with our culture, it’s to do with a pioneering spirit.</p> <p>We work in a very emerging market space – so you have to have a sense of adventurousness and exploration. You have to get it right, but also know that to succeed, you have to experiment. </p> </blockquote> <p>Likewise, James Kirkham, Chief Strategy Officer at Copa90, suggests that 'entrepreneurialism' is not just a buzzword. </p> <blockquote> <p>Everyone here has an entrepreneurial spirit, which is probably an overused expression in something like marketing, but here I’ve never known anything like it, where people are continually creating their own ideas.</p> </blockquote> <h3>Risk-taking &amp; a lack of ego</h3> <p>As well as a willingness to experiment, humility is also an important characteristic to seek out in new talent.</p> <p>With many startups made up of small and close-knit teams, it is vital that employees are able to inspire passion in others and lead without ego.</p> <p>Stephen Rapoport, Founder of Pact, suggests that this – combined with an intense belief in the product – is the key to success within a startup environment. </p> <blockquote> <p>Hiring is one of the most important things we do, and it’s something I stay heavily involved in even now. There are certain qualities that we need from people that join Pact.</p> <p>One, of course, is understanding of, and passion about, our mission – that’s probably the most important thing.</p> <p>We look for people who are bold, who are prepared to risk failure, who will put the company’s needs ahead of their own and ahead of their ego.</p> </blockquote> <p><em>To benchmark your own knowledge, take <a href="https://econsultancy.com/training/digital-skills-index-lite/">Econsultancy’s Digital Skills Index</a>.</em></p> <p><em>And to improve your skills, check out our range of <a href="https://econsultancy.com/training/">digital marketing and ecommerce training courses</a>.</em></p> tag:www.econsultancy.com,2008:BlogPost/68356 2016-11-02T14:58:54+00:00 2016-11-02T14:58:54+00:00 What is an innovation lab and how do they work? Ben Davis <p>But what exactly is an innovation lab, and how do they work?</p> <h3>How to define an innovation lab?</h3> <p>The drawing below shows there are many ways to encourage innovation within a business.</p> <p>Some of these involve a strategic and goal-focused unit, perhaps focused on a specific area like big data, tasked with creating anything from a new product or service to a new technology or business model.</p> <p>Other innovation initiatives may not be physically co-located, they can be as radical as Google's model of 20% 'free' time for workers to innovate, or simply involve setting up a group to collaborate with other industries, startups, or academia.</p> <p><img src="https://assets.econsultancy.com/images/0007/9791/defining_innovation.jpg" alt="innovation labs" width="615"></p> <p><em>Image via <a href="http://eu.wiley.com/WileyCDA/WileyTitle/productCd-111921887X.html">The Fintech Book, Wiley</a></em></p> <h3>The challenges of setting up an innovation lab</h3> <p>Andra Sonea, systems architect, <a href="https://www.linkedin.com/pulse/fintechbook-so-you-think-innovation-lab-answer-andra-sonea?trk=prof-post">eloquently sums up</a> some of the many questions that companies need to ask themselves in the course of creating an innovation lab.</p> <p>I'll paraphrase slightly as follows:</p> <ul> <li>What roles should be filled?</li> <li>What types of people make the best innovators?</li> <li>Should you recruit from inside the company or look for fresh perspectives?</li> <li>Do you define a governance framework from the beginning or let it evolve?</li> <li>What projects will you prioritise?</li> <li>How do you integrate with the rest of the organisation and not be perceived as outlaws?</li> <li>Do you need dedicated infrastructure?</li> <li>How can ideas be tested softly? Who are your actual clients?</li> </ul> <h3>The aims of the innovation lab</h3> <p>Whilst the goal of any innovation lab is ultimately to create new revenue streams or bolster existing ones by improving productivity or speed, there is much more to consider.</p> <p>Many of the methods of encouraging innovation represent both means and an end. For example, a new culture of working may be beneficial for productivity, but in its own right can make for a happier workforce.</p> <p>So, what are some of the common aims of the innovation lab?</p> <p><strong>Incubating a new culture</strong></p> <p>Many think of culture as the wishy washy side of both innovation and <a href="https://econsultancy.com/training/digital-transformation/">digital transformation</a>.</p> <p>Fixing <a href="https://en.wikipedia.org/wiki/Broken_windows_theory">broken windows</a> (the idea of new office decor, relaxed dress code and seating, and Macs for all) can often be seen as an empty gesture - snacks can only make a company so much more enjoyable to work at.</p> <p>However, these changes are an important step when combined with a focus on new ways of working - customer centric, data driven, tech-enabled.</p> <p>Communication between a lab and other teams, often involving a cross-functional team, is important in instigating a 'test, learn, iterate' culture.</p> <p>One of the challenges of the lab, as Sean Cornwell of Travelex states (though referring to broader digital transformation), is avoiding the cool kids in the corner syndrome.</p> <p>Incubating culture is a fine balance and further down the line may ultimately hinge on hiring and firing.</p> <p><strong>Ideation</strong></p> <p>Fairly obviously, this is a large part of what innovation labs promise. That can involve hackathons or day-long collaborative events.</p> <p>Innovation labs may work on proposals submitted from across the business, even involving a competition element to reward teams or employees.</p> <p>At the lighter end of the lab scale, hack spaces or CX demos can be created merely to demonstrate the latest tech in a particular industry and encourage staff or even clients to think big.</p> <p><strong>Talent replenishment</strong></p> <p>A catch-22 can occur at relatively slow-moving companies. These companies must attract talented staff with digital skillsets in order to change the company, but these candidates may not want to work for companies that may be perceived as boring or old fashioned.</p> <p>So, the lab can be created as an attractive base for new employees. Ryanair provides a good case study here, <a href="https://econsultancy.com/blog/65141-what-does-ryanair-labs-reveal-about-company-culture/">showcasing all the benefits of working for its lab</a> on a dedicated microsite.</p> <p>Salary, empowerment, startup culture and often a new location (such as a metropolitan office rather than the out-of-town HQ) are all used as a draw.</p> <p><img src="https://assets.econsultancy.com/images/resized/0005/0176/labs-blog-full.png" alt="ryanair labs" width="615" height="238"></p> <p><strong>Open data</strong></p> <p>This isn't always an aim of innovation labs, but opening up data for third parties to innovate can be a good method of early product development in certain industries.</p> <p>Nesta, the British innovation charity, runs the Open Data Challenge with the Open Data Institute, which has spawned new digital products and boasts a five to tenfold ROI.</p> <p>One such product built on open data is <a href="http://www.movemakerapp.co.uk/">Movemaker</a>, an 'app for house hunters, which helps people living in social housing swap their properties'.</p> <p><strong>In-housing</strong></p> <p>Part of investment in a lab can be a focus on developing in-house capabilties.</p> <p>Rather than looking to agencies to develop new media, for example, companies can bring competency in house.</p> <p><strong>Emphasising long term revenue</strong></p> <p>The lab can be a form of insulation against short term accounting that some see as the enemy of innovation.</p> <p>Though product development can be fast through agile methods, creating new products or business models doesn't always lead to an immediate return. The lab is an environment where long-term thinking can be encouraged.</p> <p>This requires what <a href="https://econsultancy.com/blog/67099-hive-a-startup-culture-in-a-corporate-behemoth/">Tom Guy of Hive</a> (British Gas's home internet-of-things spinoff) calls 'air cover' from stakeholders.</p> <p>Time and money granted from senior members of the business, managing upwards.</p> <p><strong>New businesses</strong></p> <p>Investing in an accelerator allows companies to give money, facilities and training to a range of startups and have a stake in their success, either aiming for integration in the long term, or a portfolio of successful tagential businesses.</p> <p>Axel Springer's Plug and Play accelerator in Berlin is a good example, and includes other partners such as Deutsche Bank. </p> <h3>So, innovation labs should be much more than PR</h3> <p>In summary, though labs can seem like PR on the surface, they need to stand for much more in order to change big businesses.</p> tag:www.econsultancy.com,2008:BlogPost/68291 2016-09-16T16:00:00+01:00 2016-09-16T16:00:00+01:00 Healthcare marketing salaries drop, but employees content Patricio Robles <p>The average salary dropped from $142,900 in 2015 to $139,200, a dip of 2.6%.</p> <p>The highest average in the past six years came in 2013, when the average salary hit $143,600. Even so, MM&amp;M noted...</p> <blockquote> <p>It's worth considering, for example, whether the big jumps in average salary in 2013 (when it rose from $132,600 to $143,600) and 2015 (from $135,700 to $142,900) might have been statistical hiccups.</p> <p>Otherwise...there's a consistent upward salary trajectory starting in 2011 ($129,000) and continuing through 2016. Are there consistent double-digit percentage leaps of the sort seen in, say, the tech industry? No, but neither is there the depressing downward grind seen within any number of other businesses.</p> </blockquote> <p><img src="https://assets.econsultancy.com/images/0007/9127/cssfigure1_1043161.jpg" alt="" width="500" height="625"></p> <p>At $152,000, $137,300 and $129,800, respectively, average salaries were highest at manufacturers, agencies and suppliers, and lowest in media for healthcare professionals ($105,700).</p> <p>Healthcare marketers in media for consumers and professionals did, however, see the biggest jumps in average salary last year.</p> <p>On a market sector basis, no sector has registered an increase in average salary this year, and the only increase in average salary by company revenue was seen at companies with less than $5m in revenue. </p> <h3>Money isn't everything</h3> <p>Despite the fact that salaries aren't rising at a clip seen in other industries, healthcare marketers generally seem content.</p> <p>Across all kinds of employers, nearly 81% of employees felt their advance prospects were "excellent or good," and only 31% planned to seek a new job in the next year.</p> <p><img src="https://assets.econsultancy.com/images/0007/9128/cssfigure7_1043209.jpg" alt="" width="500" height="625"></p> <p>But companies in some parts of the market probably shouldn't get complacent.</p> <p>Despite the fact that they still offer the highest average salaries, an almost equal number of healthcare marketers at manufacturers indicate they'll be looking for a new job in the coming year as those say they won't be.</p> <p>And a much higher percentage of marketers in media for healthcare professionals and consumer (70%) believe they have better advancement prospects than their counterparts in manufacturing, agencies and suppliers do.</p> <p>There's also the challenge of convincing marketers outside of healthcare to join the field, particularly at the entry-level.</p> <p>Lisa DuJat, chief talent officer at FCB Health, told MM&amp;M, "College grads who want to go into advertising will say that they're not interested in healthcare, that they don't find it sexy enough. [The industry] can't do enough to address that."</p> <p>According to John Marchese of healthcare communications firm Sudler &amp; Hennessey, part of the solution is to think outside of the box. "In terms of finding talent, the tough decision is not to look in the same places where you've always looked."</p> <p>That could be increasingly crucial as many companies, particularly in the <a href="https://econsultancy.com/blog/67747-pharma-marketers-should-use-storytelling-to-improve-the-industry-s-reputation/">pharma</a> and <a href="https://econsultancy.com/blog/68239-for-iot-medical-device-firms-security-issues-are-no-longer-just-bad-pr/">medical device</a> markets, face reputational threats and <a href="https://econsultancy.com/blog/67131-pharma-s-mobile-social-efforts-aren-t-as-healthy-as-they-should-be/">need to bulk up their digital efforts</a> before they lose the ability to reach consumers and healthcare professionals through online and mobile channels.</p> <p><em>For more detail on marketing salaries:</em></p> <ul> <li> <a href="https://econsultancy.com/reports/career-and-salary-survey-report-2016/">Career and salary survey report 2016</a> </li> <li> <a href="https://econsultancy.com/blog/67480-should-female-content-specialists-be-worried-by-our-salary-survey/">Should female content specialists be worried by our salary survey?</a> </li> </ul> tag:www.econsultancy.com,2008:Report/4232 2016-09-01T11:00:00+01:00 2016-09-01T11:00:00+01:00 Beyond Brexit <p>In the early days since what the media seems obliged to refer to as 'The Shock Referendum Result', wild predictions abounded as to what Brexit would mean for business.</p> <p>The pound fell, climbed then fell again. Depending on who you listened to, major multinationals were pulling staff out of the UK, or pouring cash in. The only thing that was certain was that nothing was certain.</p> <p>There was a strong temptation to shut up shop until the lunacy had passed.</p> <p>While a single referendum in this island nation sent shockwaves around the world, it was not the first – nor will it be the last – major event to threaten to throw businesses off course.</p> <p>Now, time has delivered some perspective on the issue. In <strong>Beyond Brexit</strong>, Econsultancy looks back on the lessons marketers must learn. We examine how brands can future-proof their strategies against similar periods of uncertainty, establish contingencies and create enough organisational agility to roll with the political, economic and cultural punches.</p> <p>Folding in learnings from our sister publications <strong>Marketing Week</strong>, <strong>Design Week</strong> and <strong>Creative Review</strong>, the report explores the global impact of Brexit on digitally-driven, marketing-led brands from the perspectives of talent, data, technology and analytics. These four areas are the ones most likely to be impacted by Brexit and yet are also most capable of stabilising business in uncertain times.</p>