networking & marketing by comfort ocran

Networking & Marketing

Comfort Ocran

Presentation Outline

Marketing basics

Introduction To Networking

Networking As An Investment

Network Enhancing Strategies

Working the social networking

scene

Ultimate Aim of

Business?

3 Business Profitability Strategies

Customer acquisition 2. Customer Retention (CRM) 3. Customer – focused team members

4 Ps of Marketing

Product

Price

Place

Promotion

Promotional Strategies

Advertising

Promotion

Personal selling

Public relations

Other publicity

Other Promotion Methods

Packaging Displays of product Demonstration Free samples Exhibitions and trade fairs Films, brochures, leaflets Direct marketing (direct mail, mail order) Networking

Networking?

Making connections and

building enduring,

mutually beneficial

relationships.

Presenter

Presentation Notes

How executives can network How to employ the networks in the marketing of their goods and services

Everyone is talking about networks

National Innovation Networks

Formal Networks

Entrepreneurial Networks

Ego Networks

Regional Networks

Infrastructure Networks

Social Networks

Electronic Networks

Informal Networks

Networks of Practice

Networked organization

Growth

Time

Information and knowledge

Human absorptive capacity

Cohen & Levinthal 1989

A world of rapidly growing knowledge ….

A world of rapidly growing knowledge ….

50% knowledge relevant

50% knowledge outdated

First year of technical-based education Third year

of education

Virtual communities

Local networks

Associates

Colleagues in other offices

Local colleagues

Close friends

Family

”No one knows everything, everyone knows something,

all knowledge resides in humanity.”

Pierre Lévy, Collective Intelligence:

14

What is a network?

A set of actors connected by ties

•Ties/Links −Knowledge, trust, team, sit by, dislike, etc. −Alliance, customer, investment, etc.

Tie •Actors/Nodes

−Individuals −Teams, organizations, etc.

Actor

Presenter

Presentation Notes

Refer to social networks here Began with Jacob Levy Moreno in the 1930s in attempt to quantify social relationships. Based on matrix algebra. Advanced statistics… Nodes can be people, departments, or organizations Networks consist of links that form a structure Links between nodes have different purposes, e.g., task or general advice, expertise, strategic information, navigating the organization (procedures, know-who, etc.) Links can be one or two directional Links can be both formal and informal Links can have different strengths

Uncovering networks in an organization

Informal organization

Teigland et al. 2005

Formal organization

Presenter

Presentation Notes

Large majority of work done through informal networks, some even say approx 80%.

16

Two divisions within an Organisation

Section 1 Section 2

Improved efficiency over time

Stagnant performance over time

Schenkel & Teigland 2007

Presenter

Presentation Notes

Here I would like to show the results of a study in the construction industry with colleague, Andy Schenkel. This illustrates how two departments can have completely different informal networks and connectedness. The one to left did not meet the structural properties of a community, while the one to the right did. As you can visually see Department 1 is disconnected no clear core or periphery not particularly dense In contrast, Department 2 is well connected has a core with numbers 77 and 82 forming it and a periphery it also appears to be dense

Comparing across firms

Company

A R&D

Ericsson R&D

HP R&D

% Revenue from products dev’d in last three years

Poor High High

Speed, time to market Medium Poor High

End customer satisfaction

Poor Medium High

Dr. Robin Teigland

Network outcomes?

Individual level

Improved effectiveness

Improved job opportunities

Higher salaries

Faster promotions

Increased influence & power

Improved health

Network outcomes?

Organizational level

Organizational learning

Improved innovation

Increased sales

Decreased employee turnover

20

“Managing” networks in your organization

Before After

Anklam & Welch 2005

1. Uncover networks

2. Analyze networks

3. Improve connectedness

Presenter

Presentation Notes

Source: https://webapp.comm.virginia.edu/NetworkRoundtable/Portals/0/NR04-05/Networks_and_Organizational_Change.pdf There is a structured way of going about ”managing” informal networks. Today share with you some of the findings from my research and from the gurus in the US. Identify informal network where effective collaboration adn kn sharing has sig impact on organization’s operations and strategy. So many networks out there but you don’t need to understand all of them. Good for up to 50 individuals, then should look at sub-networks Simple, 10-15 minutes to do, make list of people and ask all to characterize relationship with one another Make sure think through sensitivity of issues, do pretest Uncover networks Identify which networks are important to understand E.g., product development, merger integration Collect network data E.g., observe, interview people, conduct questionnaire Ask appropriate questions, e.g., advice, trust, innovation Analyze the causes of fragmented networks Leadership style, office layout, virtual work, politics, knowledge sharing attitudes, workflow processes, job descriptions Improve connectedness and unplug bottlenecks Reevaluate formal structure, e.g., team design, roles Rethink work processes Reassign tasks, rotate individuals, shift responsibilities Are central connectors hoarding info? Is unit too isolated? Are boundary spanners talking with right people? Is unit losing technical expertise? Think about how design teams or redesign jobs, rotating people also. Restaff teams to override hoarding connectors. One organization conducted analysis and restaffed teams combining members of both networks. If overloaded, can implement mailing lists, discussion boards to try to reduce workload on central connector Shift responsibilities, Put in mailing list, discussion boards, socnet example

Coming together is a beginning.

Keeping together is progress.

Working together is success.

Henry Ford

Networking Building Strategies

1. A Collaborative Mind-set

Have a Partnership Orientation

Resist Exclusionist Tendencies

and Policies

Build empathy & listening skills

2. Reach out to Others

Identify areas of common interest Don’t focus solely on personal reward Think of benefits to other party

What can you do?

Where do you sit?

With whom do you eat lunch?

With whom do you socialize?

To which communities, networks

do you belong?

What can you do?

Think strategically…

How are decisions made in your organization?

What information flow would you like to be in?

What resources will you need in the future?

3. Cultivate a Balanced Network of Relationships

(Mentors, connectors, coaches, enforcers,

supporters, sponsors, encouragers)

So, what does this mean for you?

An person’s position in a social network, i.e., social capital, determines in part the actor’s opportunities and constraints

Develop participation in a variety of networks

Strong ties

Weak ties

Outside organization

Inside organization

3. Intuition

Sensitivity to the needs and concerns of

the other party

4. Self-Confidence

Appreciate your unique style

Don’t compare yourself

Enjoy your relationships

Be objective in your criticism

5. Put yourself out There

Take risks in connecting to people who you need. Be Trustworthy Go the extra mile

Action Points

Most networks are homogenous groups

Meet someone outside your usual ties

Make yourself easy to fine Blog

Social media

LinkdIn

Facebook

Myspace

6. Respect the Rules of Engagement

Stand for Integrity Be Fair and Just Denounce Negativity Uphold Agreements

7. Be Positive & Thankful

Keep smiling & be optimistic There is always something to celebrate.

All things work together for good….

“Your network determines your

net worth.”

Les Brown

http://www.slideshare.net/happykatie/social-networks-for-business-1039370?from_search=1

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networking & marketing by comfort ocran

Business

uncovering networks

managing networks

networking networking

investment network

growing knowledge

network outcomes

social networking scene

networking building