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Millennials in the market:
Three changes for experts
Everyone is talking about the millennials, those
20-somethings that are about to do to us boomers what
we did to our elders. But other than increased training
to deal with these rebels, what changes will they make
to our businesses? Below are three big shifts that will
rock the expert-driven empire. Fasten your seat belts…
More fun and games
Bottom line: millennials are not going to sit around
and listen to us. Nor are they going to participate
in those slow-as-molasses webinars and conference calls.
They learn by doing, usually in the safety of a simulated
universe. Now is the time to do more showing and less
telling. I’ve been ranting about this for years
now; experts who know how to apply their content will
expand exponentially. And yes, this area is recession-proof.
Ask yourself: “what activities will teach what
I want my market to learn? What story can I tell that
folks can put themselves in?”
Respective examples: an executive development company
uses war games to teach leaders how to strategize in
volatile, high-stakes environments. A team-building
training company creates a CSI-like video game for police
academies, showing younger officers how they, court
personnel and forensic pros play their roles in solving
crimes.
More sharing
and conversations
Boomers in the meeting biz are all atwitter about the
latest millennial invention, the no-agenda, no-keynote
speaker “unconference.” Why are these educational
free-for-alls so popular? Because millennials have a
voice and are going to use it. And they are not going
to wait for the question and answer period. Experts
will be judged, not only by how they facilitate, but
by the questions they create and the cool tech tools
they use to get the answers.
Ask yourself: “what questions can I ask that
will drive compelling conversations? What tech tools
can I use to facilitate all the voices in the audience?
And how can we interact after the event?”
Example: a customer service expert can suggest ways
to gather stories from the audience about their best
(and worst) customer. That turns into an online video
that brings life to the presenter’s points.
More cool
and caring
The last shift is in how experts are branded. Thanks
to the internet, ideas are a dime a dozen. Who you are
and what you stand for cuts through the clutter. Your
voice, or signature style are just as important as what
you think. What do millennial audiences look for now?
Cool people doing cool things that invite them to the
party. Warm, yet provocative – accessible, yet
busy. Prominence is judged by how many other cool people
you partner with.
Ask yourself: “what story do I tell about myself?
How do my ideas translate into a unique voice, a point-of-view
that both generations want to hear? Am I applying my
expertise in projects to serve a greater good?”
Example: Kevin Carroll, former catalyst at Nike and,
now, agent for social change. On his website (http://www.katalystatlarge.com/),
he tells the story of how he met Paul Coelho (yes, best-selling
author of The Alchemist ) and how they are, now, collaborating
on projects that “inspire the world.”
Should experts drop everything and appeal to millennials?
Of course not. There will still be classroom training,
traditional conferences and big ideas. But by expanding
our reach to include this dynamic generation, we can
not only expand our empires, but also set our brands
up for long-term thought leadership. And isn’t
the status quo something we boomers have always railed
against, anyway?
What to say to the budget
blues
Sad but true: experts report hearing, “we’d
love to have you speak/consult, but we can’t afford
you.” Yes, there are times that the value conversation
falls on deaf ears. The fear is just too great. Here
are two ways to move past this obstacle.
Cut and
run
Sometimes the best strategy is to head the problem off
at the pass. Many experts get so excited about the buyer’s
interest that they don’t want to spoil the party
by talking about fees. The result: a “surprise”
at the end of the sales cycle. It’s true, you
don’t want to provide a price before getting all
the details. At the same time, you don’t want
to spend time with folks who are too scared to invest.
Get the best of both worlds by mentioning a range of
fees. Example: a consultant can broach the subject with
“Before we go any further, I need to let you know
that this kind of project is not a ‘blue light
special.’ To get the results you want, the investment
can easily be in the thousands of dollars (or tens of
thousands or…you get the idea.) Are you still
interested or do we need to look at other options?”
Load up,
cut back
Sometimes you have prospects that see your value but
just can’t submit the purchase order. In this
cutback climate, they are worried about the political
ramifications. They need bragging rights. So for those
folks, have two kinds of options ready. First, have
some “extras” that you can throw in to get
the commitment. If there are any questions, they can
hold up the extras and say, “we got a great deal!”
Examples: any online products, more customization, or
a slightly expanded scope.
Second option: offer less to fit their budget. Everybody
wins here. They can still say, “I saved XXX amount”
and you have fee integrity. The key: make sure your
proposal includes items you can cut without cutting
quality. Typical areas include fewer training sessions,
shorter timelines for ongoing support or unbundling
the project into multiple phases.
Many companies feel challenged by the economy, but
know they need outside help. By being flexible with
those who are willing to invest, we can contribute both
to their success and to our bottom line.
Notes from technology’s
dark side…
Got a huge wake up call this spring. I listened to a
well-referred technology expert with a biased agenda
last year and worse, acted on his advice. The result:
a damaged database that will take months and thousands
of dollars to fix. Learn from my mistake; independent
information is worth the investment. Vendors masquerading
as experts are selling a solution, not objective advice.
They have too much skin in the game to be impartial.
Don’t let this happen to you. Prayers and positive
vibes are gratefully accepted…
Party On! My birthday
gift for you…
That's right, I'll be a year older on June 28th. To
celebrate, I'm releasing brand new mp3 files from this
spring's "Here's the Deal" call series. Thanks
to those who participated! For those who missed it...I
can honestly say it was 10 times better than you ever
could have expected. We had an absolute whirlwind learning
fest! The questions were fantastic and I offered brand
spankin' new strategies and insights. Bottom line: these
six hours created content that's just not available
on any other product I offer. So, I guess it's only
fair that I make the mp3's available. Click
here for details on how to order. Heads up: this
party is not going to last. I'm planning on doing something
big with this content later and as a result, I'm shutting
down the celebration on June 18th. So if you missed
the calls, don't miss this chance
to catch up.
Generosity in action...
Just got back from Harvard. Always learn big lessons
there. Exposing ourselves to things outside of our industry
brings a fresh perspective. Example: Cherie Booth Blair
(yes, wife of Tony Blair) was there to seek help in
promoting economic empowerment for women. She had specific
questions for us, but was also open to any ideas. The
outpouring of practical help was amazing. The women
there opened up their blackberries and started making
connections. There is so much assistance out there when
we open up, listen and ask for help.
You talk a lot about sponsors.
Are they just for speakers and authors?
A: That is easy to assume,
given the focus on sponsored speaking tours and bulk
book sales. The reality: sponsors will pay for any integrated
approach that will engage their target market. The key:
what can you do to help the sponsor penetrate the market
with their new product or message?
Start with what you already have. For example, experts
with branded communities can partner online with digital
products instead of distributing books. You have to
build it first before they will come – many sponsors
are looking for experts with an established relationship
with their demographic.
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