Quote

People underestimate the power of the Internet. For some consumers, it is the source of all information. Younger adults are on their phones more than they watch television. They don't read newspapers. It is their real world. It is not a set of virtual lenses.

Michael J. Silverstein

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Michael J. Silverstein
Age: 69
Born: 1955
Born: January 1
Author
Consultant
World
Watches
Lenses
People
Watch
Underestimate
Source
Consumers
Television
Younger
Information
Phones
Read
Newspapers
Power
Adults
Real
Internet
Virtual

More quotes by Michael J. Silverstein

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Companies that get in trouble have a failure to see two realities: market trends and competitor attacks.
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Failure to make the tough but necessary choices means slow painful death.
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A lot of people believe you only need a vision. This is simply not correct. You need brilliant execution every day. It's about attention to all the details of go to market.
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The top 25 at every company really set the tone. Everyone watches them. They need to be present and focused. No slackers at the top. They need to meet in combination every recruit. They need to meet them on the first day. They need to teach by example. This is the lesson that great companies teach.
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I admire many entrepreneurs. They bring energy, excitement, youthful enthusiasm. What they lack in process, they make up for in gumption.
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I believe in classic ideas. They are timeless. They are forever. There are many fads in management.
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People need to be inspired. They need to hear and believe a story. If you want them to be self-motivated, you need to engage them.
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Find out what schismogenesis means. Schismogenesis is anthropology. It says relationships between people are not stable. They are either moving up or moving down. The same is true for brands. You need to understand where you are.
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For me, it's often about consumption behavior. I focus my energy on understanding the heavy user. They are odd but hold opportunity. I ask: how do they use the product, what motivates them, how can we clone them.
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Respond to your customer's dissatisfactions with precision and power.
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Take giant leaps. Too many companies are into incremental innovation. The only thing that moves markets is violent turns. Major differences. Don't get caught in the trap of small steps.
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Business operators that really deeply care about their employees and consumers deliver the right response every day.
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Get out of the office. Roam the frontline. Be observant. Hold your people accountable for creating the new narrative, a new story, in which your customers are the most important characters. Because, you know, they really are.
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Truth is so difficult to hear about. It must be experienced.
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Woo your biggest fans. This rule says concentrate your efforts at understanding on the 2 percent of consumers that personally drive 20 percent of sales and invite their friends and colleagues to enjoy you.
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Consumers are time constrained, budget restricted and less loved than they would like. Give them a wonderful experience and they will share it. Capture their soul and win big time.
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Too many companies are happy to have workers to dread working. They have the wrong attitude because they have the wrong leadership.
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Own one idea. Complete it. Map the current model of purchase and usage. Change how it is done so at least some part of the market uses only your product. Extend from that core user to a much broader universe. Describe your concept in a very short, six-word story - a la Ernest Hemingway: For sale: baby shoes, never worn.
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Define a winning proposition that is consumer right and delivers margin accretion.
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