To Recognize Risks Earlier, Invest in Analytics

You’ve probably heard business leaders justify their flat-footedness in a crisis by claiming that every organization is flying blind in times of deep uncertainty. But in fact some leaders know precisely where they’re going. They understand what’s required to chart a course through market turbulence, and they’ve built organizations with keen situational awareness.

When it comes to developing the ability to figure out where things are heading and respond nimbly to a changing environment, nothing is more important than analytics. Unfortunately, in recent years analytics (also known as data mining or business intelligence) has become the unloved stepchild of data sciences, overshadowed by machine learning and statistics. Those two disciplines layer mathematical sophistication on top of a foundation of human intuition, creating an appealing illusion of objectivity and deft steering. Ironically, of the three, analytics is the most essential competency for navigating crises.

Solutions based on AI and machine learning hum along well during stable times but fall apart when disaster strikes. These technologies automate tasks by extracting patterns from data and turning them into instructions. Such models can quickly become obsolete when the inputs to the system change. Analytics, in contrast, alerts you when the rules of the game are changing. Without that kind of a warning, automation solutions can quickly go off the rails, leaving you exposed to exogenous shocks.

Statistics has a similar shortcoming during a crisis. Statisticians help decision-makers get rigorous answers. But what if they’re asking the wrong questions? While statistical skills are required to test hypotheses, analysts have the acumen to come up with the right hypotheses in the first place. To attempt statistics without analytics, you’d need great confidence in your assumptions—the kind of confidence that’s foolhardy when a crisis pulls the rug out from under you.

Analysts thrive in ambiguity. Their talent is exploration, which makes them particularly good at foreseeing and responding to crises. By searching internal and external data sources for critical information, analysts keep a finger on the pulse of what’s going on. They scan the horizon for trends and formulate questions about what’s behind them. Their job is to inspire executives with thought-provoking yet qualified possibilities. Once the highest-priority hypotheses have been short-listed by leaders, then it’s time to call in a statistician to pressure-test them and separate true insights from red herrings.

During good times, leading organizations build analytics capabilities to strengthen their ability to innovate. Analysts’ ability to find clues to such things as shifting consumer tastes can help firms take advantage of opportunities before less-savvy competitors do. When the going gets tough, however, what looked like a nice-to-have innovation booster turns into a must-have safety net. To be sure, some events are impossible to see in advance—the true black swans—but addressing their fallout is a game best played with open eyes.

Unfortunately, it’s very hard to cobble together a mature analytics department on short notice. The technical skills that allow analysts to guzzle data with lightning speed merely increase the mass of information they encounter. Spotting a gem in it takes something more. Without domain knowledge, business acumen, and strong intuition about the practical value of discoveries—as well as the communication skills to convey them to decision-makers effectively—analysts will struggle to be useful. It takes time for them to learn to judge what’s important in addition to what’s interesting. You can’t expect them to be an instant solution to charting a course through your latest crisis. Instead, see them as an investment in your future nimbleness.

It also takes time to secure access to the promising data sources analysts need. Ideally, business leaders won’t wait for a big disruption to begin building relationships with data vendors, industry partners, and data collection specialists. Bear in mind that in the face of an extreme shock, your historical data sources may become obsolete. If your understanding of the past fails to give you a useful window on tomorrow’s world—perhaps because a pandemic has changed everything—it doesn’t matter how good your information was yesterday. You need new information. After the 2008 financial crash, for example, banks around the world recognized that there might be an advantage to analyzing nontraditional signals of creditworthiness, such as data from supermarket loyalty cards, but not all players were equally positioned to get access to them.

Additionally, your internal data stores may require special processing before analysts can mine them, so it’s worth thinking about hiring supporting data engineers. If analytics is the discipline of making data useful, then data engineering is the discipline of making data usable; it provides behind-the-scenes infrastructure that makes machine logs and colossal data stores compatible with analytics tool kits.

When I began speaking at conferences about the importance of analytics, I found that convincing an audience of its value was the easy part. The mood changed when I explained the catch: Analytics is a time investment. You can’t count on getting something useful out of every foray into a data set. To succeed at exploration, your organization needs a culture of no-strings-attached analytics. As the leader, you are responsible for setting the scope (which data sources should be looked at) and the time frame (“You have two weeks to explore this database”). Then you must ensure that analysts aren’t punished for coming back empty-handed.

During an extreme shock, your historical data sources may become obsolete. Then it doesn’t matter how good your information was yesterday. You need new information.

Once business leaders accept that analytics represents an investment that may not immediately pay off, I hit the next stumbling block: the perception that only a large and technologically sophisticated company such as Alphabet can afford it. This is nonsense. In my experience you’re more likely to find analytics thriving in start-ups than at well-established behemoths.

Start-ups naturally invest in analytics as they try to navigate a new market, with several generalists taking on a share of the exploratory work. Then as the venture grows, the culture changes. Workers are trusted less and made more accountable for return on their efforts, and overzealous management stifles opportunities for analytics to thrive. Analysts hired into this culture rarely get to enjoy the most interesting part of their work—exploration—and instead serve as human search engines and dashboard janitors. Many quit out of frustration as their potential is squandered.

Creating a culture where analytics flourishes takes thoughtful leadership. As organizations grow toward incumbency, only the most visionary will have the courage to nurture a true analytics department and make sure that business leaders have access to it and are influenced by it. Industries that have been burned by a previous crisis — banking is a good example — are especially likely to invest in analytics and apply it to risk management.

Becoming a leader in analytics takes a commitment to trust your analysts and give them space to do their work. Their job, after all, will be to reveal threats that you never even imagined should be on your radar. That sort of work can’t be managed with a stopwatch and a checklist.

Crises such as a pandemic—when no one has the answers, and uncertainty is high—remind us of the importance of asking the right questions. Analytics gives firms an edge in learning and adapting. When the world is suddenly upended, those who can learn the fastest are best positioned to succeed. Smart companies will invest in analytics today to get ahead of whatever is coming tomorrow.

By: Cassie Kozyrkov

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RedRisks

👀 OVERVIEW: On the 3rd June 2020, I presented a live event on Risk Management Fundamentals. This video is an extract of the “Risk Identification” presentation. Due to demand, a future live event rerun is planned and if this appeals to you, please subscribe to the weekly newsletter on the website and I can keep you posted. 🖥 WEBSITE / POST: https://www.redrisks.com/risk-managem… 📧 SUBSCRIBE to my free WEEKLY newsletter: https://www.redrisks.com 🙏 ABOUT THIS YOUTUBE CHANNEL (“RedRisks”): https://youtu.be/AsXUaIACQrA 🔔 PLEASE SUBSCRIBE AND SUPPORT THIS YOUTUBE CHANNEL: If you liked this video, please give me a thumbs up (or a thumbs down – they’re all important). 👪 CONNECT WITH ME: Linkedin: https://www.linkedin.com/in/sonnigopal/

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How People Analytics Can Help You Change Process, Culture, and Strategy

It seems like every business is struggling with the concept of transformation. Large incumbents are trying to keep pace with digital upstarts., and even digital native companies born as disruptors know that they need to transform. Take Uber: at only eight years old, it’s already upended the business model of taxis. Now it’s trying to move from a software platform to a robotics lab to build self-driving cars.

And while the number of initiatives that fall under the umbrella of “transformation” is so broad that it can seem meaningless, this breadth is actually one of the defining characteristic that differentiates transformation from ordinary change. A transformation is a whole portfolio of change initiatives that together form an integrated program.

And so a transformation is a system of systems, all made up of the most complex system of all — people. For this reason, organizational transformation is uniquely suited to the analysis, prediction, and experimental research approach of the people analytics field.

People analytics — defined as the use of data about human behavior, relationships and traits to make business decisions — helps to replace decision making based on anecdotal experience, hierarchy and risk avoidance with higher-quality decisions based on data analysis, prediction, and experimental research. In working with several dozen Fortune 500 companies with Microsoft’s Workplace Analytics division, we’ve observed companies using people analytics in three main ways to help understand and drive their transformation efforts.

In core functional or process transformation initiatives — which are often driven by digitization — we’ve seen examples of people analytics being used to measure activities and find embedded expertise. In one example, a people analytics team at a global CPG company was enlisted to help optimize a financial process that took place monthly in every country subsidiary around the world. The diversity of local accounting rules precluded perfect standardization, and the geographic dispersion of the teams made it hard for the transformation group to gather information the way they normally would — in conversation.

In core functional or process transformation initiatives — which are often driven by digitization — we’ve seen examples of people analytics being used to measure activities and find embedded expertise. In one example, a people analytics team at a global CPG company was enlisted to help optimize a financial process that took place monthly in every country subsidiary around the world. The diversity of local accounting rules precluded perfect standardization, and the geographic dispersion of the teams made it hard for the transformation group to gather information the way they normally would — in conversation.

So instead of starting with discovery conversations, people analytics data was used to baseline the time spent on the process in every country, and to map the networks of the people involved. They discovered that one country was 16% percent more efficient than the average of the rest of the countries: they got the same results in 71 fewer person-hours per month and with 40 fewer people involved each month.

The people analytics team was surprised — as was finance team in that country, which had no reason to benchmark themselves against other countries and had no idea that they were such a bright spot. The transformation office approached the country finance leaders with their findings and made them partners in process improvement for the rest of the subsidiaries.

It’s unlikely the CPG company would have been able to recognize and replicate these bright spots if they had undertaken transformation with a top-down approach. And, perhaps more importantly, it involved and engaged the people on the ground who had unwittingly discovered a better way of doing things.

In bottoms-up cultural transformation initiatives, the how things are done is equally or more important than what is done. Feedback loops and other methods of data-driven storytelling are our favorite way that people analytics makes culture transformation happen. Often times, facts can change the conversation from tired head-nodding to curiosity. One people analytics team in an engineering company was struggling to help develop the company’s managers, for example. Managers often perpetuated a “sink or swim” culture that didn’t fit the company’s aspirations to be an inclusive, humane workplace.

The data analysis found that teams whose managers spent at least 16 minutes of one-on-one time with each direct per week had 30% percent more engaged direct reports than the average manager, who spent just 9 minutes per week with directs. When they brought that data-driven story to the front lines, suddenly a platitude was transformed into a useful benchmark that got the attention of managers. In this way, data storytelling is a lightweight way to build trust among stakeholders and bring behavioral science to culture transformation.

Top-down strategic transformation is often made necessary by market and technology factors outside the company, but here people analytics is a critical factor for execution. A people analytics team can serve as an instrument panel of sorts to track resources, boundaries, capacity, time use, networks, skill sets, performance, and mindsets that can help pinpoint where change is possible and can measure what happens when you try it.

One people analytics team at a financial services company was trying to help the CEO manage growth while he worked to instill a new culture in which departments would be asked to run leaner and more competitive in the market – “scrappy” and “hungry” were terms that often came up. As the transformation accelerated, teams were asked to do more with less, generate more data, and make decisions faster. Amid this, department leaders began to hear anecdotes about burnout and change fatigue and questioned whether the pace was sustainable.

To address this, the people analytics team provided their CEO with a dashboard showing the number of hours that knowledge workers were active for in different teams. When an entire team is over-utilized, he knows they can’t handle more change, while under- or unevenly utilized teams might be more receptive. He can also slice the dashboard by tenure, to learn whether recent hires have been effectively onboarded before approving new hire requests to absorb extra work.

As organizations increasingly look to data to help them in their transformation efforts, it’s important to remember that this doesn’t just mean having more data or better charts. It’s about mastering the organizational muscle of using data to make better decisions; to hypothesize, experiment, measure and adapt. It’s not easy. But through careful collection and analysis of the right data, a major transformation can be a little less daunting – and hopefully a little more successful.

By: Chantrelle Nielsen & Natalie McCullough

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AIHR – Academy to Innovate HR

What is People Analytics and how is it different from HR Analytics, Workforce Analytics, or Talent Analytics? What has made it so popular all of a sudden and why should you be excited about it? What is the ROI of People Analytics? These are the questions that will be answered in this video!

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Empathy & Perspective Taking: How Social Skills Are Built

Understanding what other people want, how they feel, and how they see the world is becoming increasingly important in our complex, globalized society. Social skills enable us to make friends and create a network of people who support us. But not everyone finds it easy to interact with other people. One of the main reasons is that two of the most important social skills — empathy, i.e. being able to empathize with the other person’s emotions, and the ability to take a perspective, i.e. being able to gain an information by adopting another person’s point of view — are developed to different degrees.

Researchers have long been trying to find out what helps one to understand others. The more you know about these two social skills, the better you can help people to form social relationships. However, it still not exactly clear what empathy and perspective taking are (the latter is also known as “theory of mind”).

Being able to read a person’s emotions through their eyes, understand a funny story, or interpret the action of another person — in everyday life there are always social situations that require these two important abilities. However, they each require a combination of different individual subordinate skills. If it is necessary to interpret looks and facial expressions in one situation, in another it may be necessary to think along with the cultural background of the narrator or to know his or her current needs.

To date, countless studies have been conducted that examine empathy and perspective taking as a whole. However, it has not yet been clarified what constitutes the core of both competencies and where in the brain their bases lie. Philipp Kanske, former MPI CBS research group leader and currently professor at the TU Dresden, together with Matthias Schurz from the Donders Institute in Nijmegen, Netherlands, and an international team of researchers, have now developed a comprehensive explanatory model.

“Both of these abilities are processed in the brain by a ‘main network’ specialised in empathy or changing perspective, which is activated in every social situation. But, depending on the situation, it also involves additional networks,” Kanske explains, referring to the results of the study, which has just been published in the journal Psychological Bulletin. If we read the thoughts and feelings of others, for example, from their eyes, other additional regions are involved than if we deduce them from their actions or from a narrative. “The brain is thus able to react very flexibly to individual requirements.”

For empathy, a main network that can recognise acutely significant situations, for example, by processing fear, works together with additional specialised regions, for example, for face or speech recognition. When changing perspective, in turn, the regions that are also used for remembering the past or fantasising about the future, i.e., for thoughts that deal with things that cannot be observed at the moment, are active as the core network. Here too, additional brain regions are switched on in each concrete situation.

Through their analyses, the researchers have also found out that particularly complex social problems require a combination of empathy and a change of perspective. People who are particularly competent socially seem to view the other person in both ways — on the basis of feelings and on the basis of thoughts. In their judgement, they then find the right balance between the two.

“Our analysis also shows, however, that a lack of one of the two social skills can also mean that not this skill as a whole is limited. It may be that only a certain factor is affected, such as understanding facial expressions or speech melody,” adds Kanske. A single test is therefore not sufficient to certify a person’s lack of social skills. Rather, there must be a series of tests to actually assess them as having little empathy, or as being unable to take the other person’s point of view.

The scientists have investigated these relationships by means of a large-scale meta-analysis. They identified, on the one hand, commonalities in the MRI pattern of the 188 individual studies examined when the participants used empathy or perspective taking. This allowed the localisation of the core regions in the brain for each of the two social skills. However, results also indicated how the MRI patterns differed depending on the specific task and, therefore, which additional brain regions were used.


Story Source:

Materials provided by Max Planck Institute for Human Cognitive and Brain Sciences. Note: Content may be edited for style and length.


Journal Reference:

  1. Matthias Schurz, Joaquim Radua, Matthias G. Tholen, Lara Maliske, Daniel S. Margulies, Rogier B. Mars, Jerome Sallet, Philipp Kanske. Toward a hierarchical model of social cognition: A neuroimaging meta-analysis and integrative review of empathy and theory of mind.. Psychological Bulletin, 2020; DOI: 10.1037/bul0000303

Cite This Page:

Max Planck Institute for Human Cognitive and Brain Sciences. “Empathy and perspective taking: How social skills are built.” ScienceDaily. ScienceDaily, 10 November 2020. <www.sciencedaily.com/releases/2020/11/201110090427.htm>.

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The 10+ Most Important Job Skills Every Company Will Be Looking For In 2020

As the world evolves to embrace the 4th industrial revolution, our workplaces are changing. Just as other industrial revolutions transformed the skillset and experience required from the workforce, we can expect the same from this revolution. Only five years from now, 35 percent of the skills seen as essential today will change according to the World Economic Forum. While we’re not able to predict the future, yet, here are the ten most important job skills (plus a bonus one) every company will be looking for in 2020.

1.  Data Literacy

Data has become every organization’s most important asset—the “fuel” of the 4th industrial revolution. Companies that don’t use that fuel to drive their success will inevitably fall behind. So, to make data valuable, organizations must employ individuals who have data literacy and the skills to turn the data into business value.

2.  Critical Thinking

There’s no shortage of information and data, but individuals with the ability to discern what information is trustworthy among the abundant mix of misinformation such as fakes news, deep fakes, propaganda, and more will be critical to an organization’s success. Critical thinking doesn’t imply being negative; it’s about being able to objectively evaluate information and how it should be used or even if it should be trusted by an organization. Employees who are open-minded, yet able to judge the quality of information inundating us will be valued.

3.  Tech Savviness

Today In: Innovation

Technical skills will be required by employees doing just about every job since digital tools will be commonplace as the 4th industrial revolution impacts every industry. Artificial intelligence, Internet of Things, virtual and augmented reality, robotics, blockchain, and more will become a part of every worker’s everyday experience, whether the workplace is a factory or law firm. So, not only do people need to be comfortable around these tools, they will need to develop skills to work with them. Awareness of these technologies and relevant technical skills will be required for every job from a hairstylist to an accountant and everything in between.

4.  Adaptability and Flexibility

As quickly as the world is changing, the half-life of skills is constantly reducing. Therefore, people need to commit to learning new skills throughout their careers and know they must be adaptable to change. Important to this is understanding that what worked yesterday isn’t necessarily the best strategy for tomorrow, so openness to unlearning skills is also important. Additionally, people must be cognitively flexible to new ideas and ways of doing things.

5.  Creativity

Regardless of how many machines work beside us, humans are still better at creativity. It’s essential that creative humans are employed by companies to invent, imagine something new and dream up a better tomorrow. Tomorrow’s workplaces will demand new ways of thinking, and human creativity is critical to moving forward.

6.  Emotional Intelligence (EQ)

Another area where humans have the edge on machines is with emotional intelligence—our ability to be aware of, control, and express our emotions and the emotions of others. This ability will be important as long as there are humans in the workforce since it impacts every interaction we have with one another.

7.  Cultural Intelligence and Diversity

Organizations are increasingly diverse, and effective employees must be able to respect differences and work with people of a different race, religion, age, gender, or sexual orientation. Also, businesses are increasingly operating across international boundaries, which means it is important that employees are sensitive to other cultures, languages, political, and religious beliefs. Employees with strong cultural intelligence and who can adapt to others who might perceive the world differently are also key in developing more inclusive products and services for an organization.

8.  Leadership Skills

Leadership skills will be paramount for not only those at the top of a traditional corporate hierarchy but increasingly for those individuals throughout the company who are expected to lead in the 4th industrial revolution. Enabled by the support of machines, there will be more individuals who are in decision-making positions, whether leading project teams or departments. Understanding how to bring out the best in and inspire every individual within a diverse and distributed workforce requires strong leadership skills.

9.  Judgment and Complex Decision Making

Machines might be able to analyze data at a speed, and depth humans are incapable of, but many decisions regarding what to do with the information provided by machines must be still made by humans. Humans with the ability to take input from the data while considering how decisions can impact the broader community, including effects on human sensibilities such as morale, are important members of the team. So, even if the data support one decision, a human needs to step in to think about how a decision could impact other areas of the business, including its people.

10. Collaboration

When companies are looking to hire humans in the 4th industrial revolution, skills that are uniquely human such as collaboration and strong interpersonal skills will be emphasized. They will want employees on their team who can interact well with others and help drive the company forward collectively.

BONUS: In addition to the skills listed above that every company will be looking for in the 4th industrial revolution, there are several self-management skills that will make people more successful in the future, including self-motivation, prioritization/time management, stress management and the ability to embrace and celebrate change. Those people who have a growth mindset, are adept at experimenting and learning from mistakes, as well as have a sense of curiosity will be highly coveted in the 4th industrial revolution.

Follow me on Twitter or LinkedIn. Check out my website.

Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)?

Source: The 10+ Most Important Job Skills Every Company Will Be Looking For In 2020

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5 Things Your Resume MUST HAVE To Get More Job Interviews: https://youtu.be/WATpBoVprRk J.T. Free Job Search Resource: https://www.workitdaily.com/why-shut-… Get hired faster by working with our team of experts. Learn more here: https://www.workitdaily.com/pricing/ Showcasing the right skill sets is essential when you’re on the hunt for a job. If you want to stand out in the hiring process, you need to consider other skills that can give you an advantage over the competition. Here are some skill sets that can give you a “leg up” in the hiring process (even if they don’t directly relate to the job to which you’re applying): 1. Experience With Relevant Technologies Do you have experience with any programs, applications, software, or other technologies that relate to your field? Be sure to emphasize them on your resume and LinkedIn profile, especially if they’re listed in the job description. 2. Fluency In A Foreign Languages If you speak another language, make sure you showcase it! Although most jobs don’t require fluency in other languages, it’s not a bad thing to add to your resume or LinkedIn profile. In fact, it can actually give you bonus points because there are so many people who aren’t fluent in other languages. 3. Customer Service Skills It doesn’t matter if you were a server at a restaurant, a customer service representative, or a retail associate, if you dealt with customers in the past, you likely developed some good customer service skills. The ability to work with people is such a valuable skill set. Even if you won’t be working directly with customers in the role to which you’re applying, these people skills you’ve developed can help you work with colleagues and navigate tricky situations in the workplace. These are just a few things you can do that can give you a leg up in the hiring process. However, there could be things you’re doing that are holding you back… To get insight into what these are and how to fix them, be sure to check out my free resource here: Thousands of other professionals have found this helpful, so be sure to check it out. Free Tutorial: https://www.workitdaily.com/why-shut-… And, if you want J.T. and her team to help you become a pro at interviewing, negotiating and more, then you need to check out our career support platform. Want to learn more about our affordable Premium Subscription? Learn more here: https://www.workitdaily.com/pricing/ Follow Work It Daily: https://www.workitdaily.com/ https://twitter.com/workitdaily?lang=en https://www.facebook.com/groups/WorkIhttps://www.facebook.com/WorkItDaily/ #JobSearch #JobSearchTips #Resume

How MarQuis Trill Gained Millions Of Followers And What He Can Teach You About Millennial Marketing

The U.S. Census Bureau predicts that millennials are projected to outnumber Baby Boomers as the largest living adult generation in America. With the millennial generation making up such a huge portion of American consumers, it is imperative that companies understand how to effectively market products and services to this group. For this generation, social media has become an integral part of their lives. Many companies have taken notice and are using social media to craft their marketing strategies, however, many organizations struggle to understand and determine how to successfully capture the attention of millennial consumers.

One person that companies can learn a lot from is MarQuis Trill, a social media influencer, investor, and entrepreneur who has figured out how to authentically gain and capture the attention of young audiences. MarQuis made his social media debut on Myspace in 2003, at the tender age of 12. In 2017, he was listed as one of the most influential people on the internet. Now, through his social media platforms, MarQuis reaches millions of people every month, with a large percentage of his audience being millennials and Generation Z. After deciphering the formula for success, MarQuis started an agency called Entertainment 258, which is focused on helping businesses, influencers, athletes and artists develop and expand their brands. What are companies getting wrong when it comes to millennial marketing strategies?

How does MarQuis keep his audience engaged? What are some best practices when it comes to millennial marketing on social media? MarQuis sat down with Forbes to discuss these questions and more.

Janice Gassam: Who is MarQuis Trill? How did you develop such a huge following on social media?

 MarQuis Trill: It basically developed in college. I went to Prairie View A&M University on a full-ride scholarship. I had a chance to go to other big schools like Baylor, Texas A&M, USC…but I decided to go to an HBCU, just to change the culture…once I started attending the school, I saw the culture of the community. I went from playing basketball to [be] an artist, to [be] a promoter online and it just grew from there. I always had that marketing strategy inside me and my school kind of just brought that out of me.

Gassam: What are some mistakes that companies make when it comes to branding and marketing to millennials?

Today In: Leadership

 Trill: I think companies are getting things wrong, first, inside the company itself. They’re hiring people that are not a part of the culture—that’s the first thing. Everything we see on TV is a copy. We’ve seen multiple videos, multiple commercials from our favorite influencers. The people that work in those places are copying exactly what the millennials are doing, instead of coming to us and collaborating with us and actually hiring us and giving us jobs…instead of paying an influencer, how about hiring an influencer? It should start inside.

Second…I call it ‘camouflage marketing.’ And what camouflage marketing is, is when you’re marketing something, but it’s not focused on the actual brand. So that could be merchandise, that could be accessories, that could be sponsorships, that could be a flash of your logo…I think they should focus more on that, and creating cool content…collaborations, collaborations, collaborations. As time goes on, a 13-year-old turns 21…you always have to change…you always have to connect with the millennials and with the new generation.

If you don’t do that, you’re going to be disconnected. Once you become disconnected, it doesn’t matter if you’re a million-dollar company or a billion-dollar company—you’re going to lose revenue dollars…that’s what I feel a lot of companies are missing. You don’t necessarily have to hire someone, like a kid, to be the CMO of your entire company, just a collaboration or maybe you can give them a smaller job where they are just over marketing strategies for Instagram…all you need is five millennials in the office space for Twitter and Instagram and you’re going to have a hundred thousand followers, a million followers and they’re going to run it all for you…they don’t need big budgets because they’re young kids and as time goes on and they start doing more for your company, you’ll be able to pay them anyway.

 

Gassam: What are some trends you anticipate on social media when it comes to millennial marketing?

 

Trill: Well…it’s always something new and something fresh…what I try to focus on is fast news and fast content. That’s where you’ll get most of the engagement and most of your following from. That’s how I grew my following originally. I was taking videos from YouTube and putting them on Twitter. I was taking videos from Facebook and putting them on Twitter because different platforms have different videos and different followings. Something that’s been posted on YouTube probably hasn’t been seen by the people on Twitter…Twitter, Instagram, Snapchat, Facebook, they don’t all have the same following.

Different people get on different platforms because they like the functionalities of that platform. Kids that are on TikTok might not necessarily be on Twitter. People that are on Snapchat might not necessarily use Instagram all the time. That’s what people fail to realize. Every single influencer, they may not have every single social media platform. That’s where a lot of people miss out on…Twitter is for news information and text. Instagram is for pictures. Snapchat is for, right there on-the-spot videos. Basically, live videos…TikTok, [for] six seconds dancing. You have to be creative…young kids are on [TikTok] all the way from eight years old all the way up to 21.

 

Gassam: So, companies need to learn that they can’t post the same social media content on every single platform and expect it to stick?

 

Trill: Exactly. They also have to use camouflage marketing. Using influencers, creating dope content that doesn’t necessarily have anything to do with their products. They can flash the product in between the content or at the end or the person that’s inside the content can actually say the product. It can be a one-minute music video and five seconds out of the music video, that artist is pouring cheerios…he’s not necessarily saying ‘I eat cheerios.’ Now the consumer and the person that is watching the content, they’re smarter now…they know what’s fake, they know what’s an ad now…with the rules and everything you even have to put ‘ad’ or ‘promo’. So now, when you put that, your engagement goes down even more…you have to do it in a camouflage sense.

 

Gassam: Is there a social media platform you would recommend companies use when marketing to millennials?

 

Trill: It depends on what their product or service is. If you’re selling merch, I would definitely say go with Instagram and YouTube. If you’re already a super known company, I would say go with Twitter because the engagement there reaches faster…you get more retweets, you get more favorites, more impressions. If you’re trying to sell anything, if you’re trying to become a brand yourself, if you’re trying to conquer a market, I would say use YouTube because Google owns YouTube and they create all [the] SEO that’s on the internet…when you search something like ‘how to dance,’ whoever made a video on ‘how to dance’ on YouTube, that’s what’s going to pop up for a search and that’s free marketing, free viewership for the person, influencers or brand that made that video. Now content is becoming the search. That goes for marketing and branding as well.

 

Gassam: How can companies stand out to millennials on social media?

 

Trill: They should be more direct with the consumer. The consumer is getting smarter because they’ve seen so much content, so they can tell if something is fake, something is real, something is being promoted and they won’t engage as much to it. If the consumer and the people that are selling products, if they intertwine and they come more direct with people that are in the communities…then that’s when you start getting more product sales and more distribution in your product. I wouldn’t buy anything that I’m not tapped into or that I didn’t see anyone else wearing.

iPhone is hot because everyone has an iPhone, not because it’s the best phone…they keep developing different products. They have apps, they have iTunes, they have podcasts…they’re tapped into every culture…they’re basically competing against themselves…subscription-based is what’s coming next. AR is coming next, virtual reality is coming next. And these are the things that these companies need to focus on…someone will always develop something new; someone will always come up with something that’s greater than the other platforms.

Gassam: Popeyes recently came out with a very successful marketing campaign for their new chicken sandwich. Should companies copy these campaigns in order to be successful? In regard to the millennial consumer, do you think controversy sells?

 

Trill: I wouldn’t say copy. But they should come up with their own strategy. Once you see something so much, you are making the consumer smarter. Your next marketing campaign is going to have to be harder.

I think controversy is always great…but if you’re deliberately doing things on purpose and expecting a great outcome, nine times out of ten, it might not go your way. But if you have a whole marketing strategy behind it and if you know exactly what you’re doing and where you’re trying to go, then it’s definitely going to work…we don’t have to pay for press.

This interview has been lightly edited for brevity and clarity.

To learn more about MarQuis, visit his website or connect with him on Instagram.

Follow me on Twitter or LinkedIn. Check out my website.

I grew up in five different states and across two continents, which was the catalyst to my interest in diversity. My ultimate goal is to help leaders infuse more love into the workplace, creating a culture that is more equitable and productive. Currently, I work as a professor at Sacred Heart University, teaching courses in management. In addition, I am a consultant, helping organizations create a more inclusive environment. I earned a Ph.D. in applied organizational psychology from Hofstra University, and I enjoy conducting research in the areas of diversity, equity, inclusion, hiring, selection, and leadership.

Source: How MarQuis Trill Gained Millions Of Followers And What He Can Teach You About Millennial Marketing

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