Fewer Hats - Blog , Technology

Millennials, McDonald's, and Miley Cyrus

Fri, 13 Apr 2018 10:10:52 -0600

Millennials, McDonald's, and Miley Cyrus

Millennials in the workplace can be quite challenging. Wikipedia defines a millennial as a “person reaching young adulthood in the early 21st century”. They’re typically known for being gifted with technology and inept with social skills. As the transfer of wealth and responsibility is beginning to shift from baby boomers to millennials, they’ve been the focus of many discussions. I’m currently in my mid 30’s so some might consider me a millennial. Anytime someone refers to me as a millennial, I quickly relate one of the following stories with the hopes to disqualify myself from the label,

I didn’t grow up having a cell phone. When I was done with my extra-curricular activities I would make a collect call home from a payphone. My family would pick up the phone and hear something resembling “You have a collect call from: I’m done with football I'll be by the gym come pick me up now”.
I remember having to make sure everyone in the house wasn’t using the phone before signing into my AOL account. I remember sitting in patience as I listened to the dial-up ringtone play. I would watch the “running man icon” anxiously as I was being connected to the internet and finally being elated when I heard “You’ve got Mail!”
Lastly, I remember being devastated at Blockbuster video when only the cover case of the movie I wanted to rent was remaining on the shelve. As a last ditch effort, I would typically rummage through the recently returned bin to test my luck, even if it meant I had to rewind the VHS myself.

So whether I should be considered a millennial or not is up for debate. I think recent skits like the one featuring Miley Cyrus on SNL have me jaded about the title of a millennial CLICK HERE. Despite how you might feel about millennials, there is one thing of which I'm certain: Consumers are progressively using more and more technology to influence how they spend their disposable income. If you want to stay competitive as an organization then you need to evolve just like your consumers. You need to be thinking about the millennial generation. Selecting and deploying technology for an organization can be a time consuming and a costly endeavor. I address how to get started in a previous post entitled “How Brad Pitt and Clint Eastwood Leverage Technology” CLICK HERE. In this post, I want to address the mindset one must have to leverage technology like a millennial.

Price versus Value

I willingly hand over money each month for things like Netflix, Ring, and Spotify. In preparation for this article, I decided to add up all the technology based bills I pay on a monthly basis. Although I won't share the exact number I came up with, I will share that it was in the hundreds. I was quite surprised by how much I was spending on technology. If you would have told me 10 years ago that I would soon be spending hundreds of dollars a month on technology that didn’t exist yet, I wouldn’t have believed you. So why don’t I have an issue paying these bills now? The answer is quite simple; PRICE IS ONLY AN ISSUE IN THE ABSENCE OF VALUE.

It is easy to look at new technology and only see the bill. If the price is all you are looking for then it is the only thing you will see. Before you start looking at the cost of technology, I highly recommend that you consider what value it will bring to your company.

If you have a clear understanding of the impact greater efficiency will have on your business, then new technology won't be so painful. What makes your business unique? If your company’s competitive advantage is customer service, explore ways to add value to your customer service experience. Don't let your competitors beat you where it really counts. If technology can help you improve your business where it matters the most then ask yourself “What is it costing me by not leveraging technology?” If technology can bring more value than it costs, then you shouldn’t hesitate.

McDonald’s is still paving the way

Let’s take McDonald's for example; They’re yet again setting an example for the franchise industry. In an article posted on Business Insider on Jun. 23, 2017 by Author Hayley Peterson, it was announced that “...the company is rolling out kiosks, which allow customers to order and pay for their food, in thousands of stores.” This use of technology is expected to “...speed up the ordering process and give people more control over customizing their food, while reducing opportunities for human error.” The article also states that “analysts expect the kiosks will help boost McDonald's sales, in part because they will help increase efficiency in restaurants.” Although these kiosks will add additional operating costs that the organization didn’t previously incur, they’re also gaining efficiency and a boost in sales that they didn't have before as well. Getting your food quick and easy has always been the backbone of the McDonald's experience. Technology is now allowing them to stay true to their roots. Increased sales and efficiency will more than make up for the cost of implementing the kiosks themselves.

Summary

My dad used to tell me “If you want to catch a fish then you have to get your line in the water. Choose your water wisely tho, because knowing which pond to fish matters more than your line!” Consumers are increasingly choosing to swim in ponds that are filled with technology. Consumers are progressively using more and more technology to influence how they spend their disposable income. Make sure your business is paying attention to the pond it is fishing in. PRICE IS ONLY AN ISSUE IN THE ABSENCE OF VALUE. Although your business might be spending more than ever before on new tech tools, you really can’t afford to ignore technology.

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Tips for shopping for tech!

Fri, 13 Apr 2018 10:03:01 -0600

Tips for shopping for tech!

A few months ago I went shopping for a new car. I had a vague idea of what I wanted but I wasn’t completely sold on any one brand, make, or model. The only thing I had officially committed myself to was buying a used car in order to save money. Purchasing a car is not an everyday activity for me so I was a bit unsure of where to begin. I decided to search online for local used car dealerships. I came across a website of dealership that impressed me. They seemed to have a large inventory selection, special sales offers, and a convenient location. I was getting filled with excitement and anticipation that I had come one step closer to purchasing my new set of wheels. I raced over to the dealership filled with this excitement to check out their inventory first hand. When I arrived at the dealership I felt a bit confused. The business looked much different than what I had seen on their website. The car lot looked much smaller, the office looked like it was falling apart, and it was unclear where I was supposed to go to get help.

After wandering around the car lot for a few minutes, I was finally approached by a car salesman. I told the salesman that I was ready to buy a car but that I wasn’t really sure what I was looking for. Without asking anymore questions, the car salesman proceeded to parade me around the lot telling me exactly what I wanted. Without knowing anything about me he suddenly understood exactly what I was looking for. He started a well rehearsed pitch on all the features and specifications of his favorite car. The longer he talked the more he killed the excitement I had about buying a car. He insisted that we take his favorite car out for a test drive to really get the full experience. He took a copy of my drivers license and away we went. This guy could not shut up and continued to babble on about things I couldn’t have cared less about. I found myself just wishing that this whole experience would come to an end. We got back to the dealership and I promptly began to leave. The salesman seemed confused by my rush to get going. He had assumed there was no way that I was going to leave his lot without buying a car. The pushy salesman tried to stop me from getting in the car I wanted to replace and insisted on talking more. I kindly insisted on leaving. As I drove away I realized that at least in this instance, the stereotype of the pushy used car salesman seemed to fit the mold.
As an operational consulting firm with an emphasis of leveraging technology, our team does a fair amount of software demos. We are constantly being solicited by software companies hoping to have us rep their software to our clients. I have seen numerous software companies with really flashy websites but very underdeveloped tech. Our team has listened to countless hours of sales pitches from software companies. The other day during a sales pitch from a marketing software platform, I started getting flashbacks of the horrible experience I had with the used car salesman. I realized something in that moment that I couldn’t deny. I realized that I shared part of the blame for the negative experience I had with the salesman. Although I think all sales professionals should spend ample time asking their potential clients great questions, let’s not forget the responsibility of the “buyer”. If you want to avoid a painful sales pitch then come to the pitch having done your homework. If you don’t come to the pitch with your own questions then you effectively give up all control to the salesman.

Most technology companies prep their sales people with a rehearsed sales presentation that they regurgitate day in and day out. I personally don’t have time for salespeople to show up and throw up generalized content. My time is valuable and I also want to respect the time of the sales professional. Here are a few tips that will allow you to get the most of your software demo or sales pitch;

1. Start every sales pitch by telling the salesperson exactly what you care about and exactly what you want to see. When shopping for technology for your company, do not show up to a sales pitch like I showed up the the used car lot. If you have an understanding of the features you really care about then you will likely get the answers you really want.

2. If the salesperson launches into an explanation of features you don’t care about then let the salesperson know. At first I felt that this was a rude thing to do but then something dawned on me; sales professionals want to make a sale. It’s helpful not rude to be vocal about the features that won’t influence my purchasing decision.

3. Be very clear with the salesperson before they start their presentation about your “must haves” and “deal breakers”. If you can disqualify the platform prior to listening to a long sales pitch, then you can save yourself and the sales professional a lot of time.
Make sure you do your homework before shopping for technology for your company. Understand that you have a responsibility as a buyer to understand what you want to buy. Take some time to educate yourself prior to speaking to sales. Speak with other people using similar technology to the one you are shopping for. Ask them what they love and what they hate about the technology. The software and tech industries have become very congested over the last few years. This is a good and a bad thing for the buyer. It’s good because it means that you have more options than ever before. It’s bad because it also means you have to do a lot more research to do. There is no such thing as perfect software or technology, but there is such a thing as a perfect fit.