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Social Sigma -- getting customers to improve your products

Posted by George F. Colony on March 2, 2010

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Social_SigmaIf you're a typical CEO, you're probably wondering what the hell all of these social technologies like Twitter are useful for. A question I get from a lot of leaders is: "How can we use social to make money?" Actually, the more frequent question is: "Why do these social things have such stupid names?"

Many CEOs only encounter the downside of social -- the disparaging YouTube video or the irrational Twitter attack on the company's brand or products. I've got personal experience here -- Forrester was recently the subject of a small Twitter tantrum based on inaccurate information. So it's easy to understand the skepticism and the questioning.

Trust me though -- social networks contain utility that your company will use to get ahead. I'll be posting some examples in the near future. 

But for the moment, let's stay focused on one specific way that you will use social to make money -- something I call Social Sigma. While Six Sigma is a discipline for improving products through better process, Social Sigma is about improving products through social feedback. It's about using social networks as a means for customers (and potential customers) to continually critique, analyze, and offer suggestions about your products. It's a powerful tool for continually increasing the value of what you make. 

I see three elements of Social Sigma:

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Davos 2010

Posted by George F. Colony on February 4, 2010

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Davos 2010_0001This was my ninth visit to the World Economic Forum – the global cocktail party/speechathon that brings together a unique mix of CEOs, government leaders, artists, scientists, philanthropists, regulators, and non-pr

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If You Could Ask World Leaders at Davos One Question, What Would It Be?

Posted by George F. Colony on January 20, 2010

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Wef_logo (1) Next week I will make my annual trek to Davos for the World Economic Forum. I will be tweeting during the week and I will post my findings from the event on this blog -- most likely the week after.

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An ex-CEO's inspiring thoughts

Posted by George F. Colony on January 8, 2010

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Gordon bethune In case you didn't see it, check out the excellent interview with Gordon Bethune, ex-CEO of Continental Airlines, in last Sunday's

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The Best of 2009

Posted by George F. Colony on December 18, 2009

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Here are the things I liked in 2009. I thought they might spark ideas for Christmas presents, or guide others to useful resources. A note about all of this. What I’ve written below are the opinions of one person (me) and do not in any way reflect the research, conclusions, analysis, or survey work of Forrester. 

Here's my list:

1) The Breville Toaster. If Apple designed a toaster, this would be it. Intuitive, easy to use, dependable, smart. Perfect appliance for a nerd like me.  

2) The Amazon Kindle. I’ve got two of them, both Kindle 2s. I love them for five reasons: 1) I can get my newspapers in seconds when I travel, 2) I can read on a plane while I eat my bad airline food – it is small enough to fit on my table along with my food tray, 3) I’ve got all my books with me all the time – keeping my underling and notes at my fingertips, 4) My reading time has increased, and 5) My backpack is lighter. Yes, I miss the feel and texture of my books, but the Kindle's advantages outweigh tradition.

3) The Beatles mono and stereo box sets. I threw away all my original Beatles CDs – they pale in comparison with the new mixes. The music has a new life.

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What We Shouldn't Learn From Steve Jobs

Posted by George F. Colony on November 25, 2009

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Jobs imageI don't know about you, but I am developing a major inferiority complex as I contemplate the achievements of Steve Jobs. In a decade that has been punishing and humbling for most CEOs, Steve has conjured victory after victory from the whole cloth of his vision, imagination, and singular focus on excellence. I am in complete agreement with Fortune Magazine's assessment that he is the "CEO of the Decade." -- I was already taking note back in 2004.

When confronted with a problem, a new favorite question of CEOs is: "What would Steve do?"

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My View: The Digitizer

Posted by George F. Colony on November 25, 2009

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My View: The Digitizer
From: George F. Colony, CEO, Forrester Research

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How CEOs Can Rebuild Media Companies

Posted by George F. Colony on November 12, 2009

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Gourmet 2Quickly: If you are a CEO in the media industry, you must move your company through three stages.

Content: I was shocked when I heard that Conde Nast was shuttering Gourmet Magazine after 68 years of operation. Gourmet had 900,000 subscribers, with total readership of approximately six million. Yes, advertising revenue was off 30%, but clearly Gourmet was a brand and franchise that was destined to morph into an Internet beehive of content, social sharing of travel and food tips, community, and close affinity. And they were on their way with 8,000 Facebook friends, 22,000 followers for editor Ruth Reichl on Twittter, and a YouTube channel. Gourmet could have and should have become the upscale Grand Dame sister of Epicurious.com, Conde Nast's successful recipe site. Why didn't the company get this?

Because much of Conde Nast is stuck in media meltdown. 

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The CEO's Brain

Posted by George F. Colony on November 2, 2009

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The CEO's Brain Have you ever wondered what CEO's really want? Ever pondered on what you'd find in the CEO's head if you could take off the top of his or her skull and peer inside? Here's a short story and simple answers to those questions.

I have spent many years helping technologists in large companies communicate with executive management. Chief Information Officers often speak a different language than the CEO and commonly see the world through a different lens. As a way of signaling to the CEO that a new era of business-focused technology has arrived I have been advocating that the CIO change the term Information Technology (IT) to Business Technology (BT). It's a not-too-subtle way for the CIO to say, "Hey, I'm no longer the insular geek you've come to know and love through the years -- my team and I are about making money, not just tech."

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Learning from John Chambers

Posted by George F. Colony on September 25, 2009

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John Chambers

There are no templates for being an effective CEO. When asked how to be a good leader, Jack Welch answered, "Be yourself" -- and I would concur. Especially if you serve for many years, you can't fake it.

That said, there are many valuable lessons to be learned. I get inspiration and tips from fiction (Martin Sheen's President Bartlet on The West Wing), history (Churchill's writings on WW II) academics like Warren Bennis, and from watching other CEOs in action. Recently I've drawn some inspiration from John Chambers, the CEO at Cisco. Here's what I've learned:

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