All posts by Adam Henshall

Why Are Monopolies Bad? An Analysis of 6 Rise-and-Fall Companies

Why are monopolies bad?When I think of monopoly I think of a mustachioed man with a nice hat and a highland terrier.

I also think of family arguments and Christmas flashbacks; Monopole mon amour, directed by Resnais…

Yet, those aren’t the only monopoly connotations you should be worried about. The New York Times recently reported that a whopping 77% of mobile social traffic is owned by Facebook, 74% of the ebook market is Amazon, and Google owns 88% percent of the search advertising market.

They aren’t the only monopolies around and they’re only in specific sectors. A report from eMarketer showed that in 2016 Facebook and Google collectively accounted for 57% of all mobile advertising – and that figure is rising. Maybe it’s not a monopoly at all, but a duopoly?

Market position isn’t static, it’s dynamic. Monopolies form and fade, doing so in response to specific factors and environments.

In this article, we’ll look at the rise and fall of some monopolistic scenarios and try to learn a little about how this current dominance may look moving forward.

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The Aggressive Processes Uber is Using for Global Expansion

Uber global expansionUber is seemingly always in the news for something.

Right now the big stories are:

It appears Uber is everywhere.

But how did Uber grow to such a large degree, particularly with laws and governments and embedded markets in their way? How did they end up with a potential valuation of $68 billion?

In this article, we’ll look at three key things:

  1. Where did Uber come from and what is its philosophy?
  2. How does Uber conquer a city?
  3. What steps does Uber take to recruit new drivers?

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How to Use Facebook Retargeting and Custom Audiences to Drive Sales

How_to_Use_Facebook_Retargeting_and_Custom_Audiences_to_Drive_Sales-02We’re always looking for innovative ways to drive sales.

One simple step which people often overlook is the potential purchasing power of your existing audience. It can be expensive to market to people who know nothing about your product, but less expensive to increase the lifetime value of your existing customers.

When Facebook first released their custom audiences advertising feature, results poured in rapidly. One e-commerce company, as reported at the time by TechCrunch, targeted their email list and recorded a 43 percent increase in sign-up conversion and a 30 percent decrease of their cost-per-lead.

The Washington Post’s advertising arm, SocialCode, also reported a 15 percent lower cost per new fan after using custom audiences.

Using custom audiences and Facebook retargeting to activate people who have previously shown interest in your product is a strategy which works.

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What Marketers Can Learn from Trump About The Science of Persuasion

What-Marketers-Can-Learn-from-Trump-About-The-Science-of-PersuasionRecent elections have hogged the headlines due to their rhetoric and their politics.

However, one consistent theme across both the Trump victory and the Brexit success was their use of advanced marketing techniques.

These campaigns utilized the power of emotion to drive their narratives and leveraged the complexities of Big Data to direct those messages at segmented groups with devastating effect.

The recent victories were not merely political successes, but demonstrations of the immense potential of advanced marketing and advertising methods.

We’ll look at three key areas in this article:

  • Why are emotions so powerful in decision making?
  • What is psychometric testing – the Trump and Brexit campaigns’ marketing method – and what can it tell us about our audience?
  • How do we turn theory into actionable techniques?

The world of marketing is changing. Don’t get left behind.

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How to Run Business Meetings That Aren’t a Useless Waste of Time

How to run a business meeting with Process Street
According to Atlassian, unnecessary meetings cost the US economy $37b a year in wasted salary costs.

In fact, per the same study, half of all meetings are considered “wasted time”.

What differentiates a successful meeting from a failed one? How do we make sure our meetings are consistently successful?

In this article, we’ll discuss the fundamentals of how to run a successful meeting; the 7 key steps advocated by MIT professor Neal Hartman.

And we’ll share with you our internal method for running meetings in a structured manner with Process Street.

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4 Proven Ways to Improve Employee Accountability in the Workplace

Improve Employee Accountability in the Workplace

It’s not always easy to know whether your team is doing everything you ask them to. How do you know everything is on track? Are you sure your team is taking care of every responsibility?

Here’s the worrying thing:

According to the American Management Association, 21% of companies believe that 30-50% of their employees shirk from their responsibilities. This is stupidly high. So, we need to see how it can be resolved and take action right now.

Accountability in the workplace, in short, refers to your team members taking responsibility for their actions and for the tasks they’ve been assigned.

In this post, I’m going to cover 4 key areas which pertain to managing the accountability of employees:

  • Communication and company culture
  • Productivity
  • Clear processes and workflows
  • Oversight

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Why the Normalization of Deviance is Hurting Your Company

Process Street Normalization of Deviance

According to the Powering Productivity report from Planview and Loudhouse, poor processes are the primary cause of company inefficiencies (44%).

Even the largest companies in the world struggle with poor processes, resulting in poor performance and lost revenue.

But these problems are not always the fault of design.

Bad processes don’t just come from poor process management, but often evolve naturally within companies over time. From NASA to SpaceX, processes can become corrupted without anyone noticing.

This phenomenon can be known as the normalization of deviance.

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Process Management Explained: How to Combat Poor Processes in Your Business

Process Management Explained

Silicon Valley darling and unicorn health insurance startup Zenefits lost over 50% of its value through 2016.

Why? Poor process management.

Process management might not sound thrilling, but it’s damn important.

Process management refers to how all the different systems within your business link up together to form a coherent whole.

If they don’t link up, they won’t make sense.

And if your business doesn’t make sense… well, you get the stretched metaphor. It’s not good.

Before we dive into what process management is and how it functions, let’s take a look at the high-profile example of poor process management in action.

That’s right, I’m talking about the cautionary tale of Zenefits!

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Managing Your Sales Funnel With Process Street

sales-funnel-processes

Sales will make or break your business

Outbound sales feed your team. Your cold-callers are foragers. Your senior sales staff are hunters.

They find the new clients and bring them back to the tribe of engineers and human resources staff who depend on them.

But we live in a more complex world than the hunter-gatherers of old, and with that comes the need for more complex processes.

The key to a successful sales process is understanding the overview.

There are lots of individual processes you can employ to improve different aspects of your sales and they need to fit together into a coherent sales narrative. Some call this narrative a sales funnel, and others a sales pipeline.

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How to Quickly Train a New Remote Support Team

train-support-team

So you’ve decided to hire remote? Good idea.

Working with a remote team can vastly increase your talent pool, save significant amounts on office overheads (on average $11,000 per company), and allow your staff to work in ways which suit them.

Your remote staff are 13% more productive. And, according to Chris Byers, CEO of Formstack, they’re twice as likely to work beyond 40 hours a week. You’re getting more hours, and more out of each hour.

…But don’t get too excited. Managing, training, and onboarding a remote team comes with its own challenges and difficulties. If you fail to train, you train to fail.

Here are 4 crucial points to remember when training a remote support team:

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