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Author Topic: iStockPhoto has hired the Boston Consulting Group  (Read 10593 times)

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Pinocchio

« Reply #25 on: March 13, 2013, 15:46 »
0
It would be interesting to see BCG's report.

Tantalising thought, but you might be disappointed even if they mailed you a copy.  There are times when the most important feedback is delivered verbally, while the report itself is a total bore.  That is most likely to happen when the consultants identify a sensitive/political problem (e.g., Mr CFO, you need to find a new chairman of the board because he .....).  If you are engaged to solve a problem your client considers very sensitive, they will want to control distribution of the report and limit any content that might make things difficult if the report found its way into the wrong hands.

Regards


« Reply #26 on: March 13, 2013, 17:21 »
+1
An outraged buyer started this thread http://www.istockphoto.com/forum_messages.php?threadid=352131&page=1 and after a couple of posts Lobo confirmed that iStock/Getty has hired one of the top strategy consulting firms.  Firms like this are usually hired by senior management; they are not hired to conduct "surveys" - they will do a lot with the input gathered in the course of the survey.

Having worked for other consultancies who operate at this level of seniority in client companies, it seems to me this effort may be getting off to a troubled start.  But it does indicate that someone very senior is asking questions and hoping BCG can deliver answers, so it's a significant development.  It is very probable that BCG was hired by Getty, or, at the very least, with Getty's approval.

Regards


Slightly off topic, but I just read the thread over at istock and, well, I admit I haven't been on the iStock forums in ages but the tone of Lobo's responses sure don't sound like the snarky Lobo responses that I remember.   They read very polite and professional in that thread, it sort of scared me. 

« Reply #27 on: March 13, 2013, 17:25 »
+3
An outraged buyer started this thread http://www.istockphoto.com/forum_messages.php?threadid=352131&page=1 and after a couple of posts Lobo confirmed that iStock/Getty has hired one of the top strategy consulting firms.  Firms like this are usually hired by senior management; they are not hired to conduct "surveys" - they will do a lot with the input gathered in the course of the survey.

Having worked for other consultancies who operate at this level of seniority in client companies, it seems to me this effort may be getting off to a troubled start.  But it does indicate that someone very senior is asking questions and hoping BCG can deliver answers, so it's a significant development.  It is very probable that BCG was hired by Getty, or, at the very least, with Getty's approval.

Regards


Slightly off topic, but I just read the thread over at istock and, well, I admit I haven't been on the iStock forums in ages but the tone of Lobo's responses sure don't sound like the snarky Lobo responses that I remember.   They read very polite and professional in that thread, it sort of scared me.


That's because he's talking to 'outraged buyers' rather than those pain-in-the-arse contributors.

Poncke

« Reply #28 on: March 13, 2013, 17:29 »
0
An outraged buyer started this thread http://www.istockphoto.com/forum_messages.php?threadid=352131&page=1 and after a couple of posts Lobo confirmed that iStock/Getty has hired one of the top strategy consulting firms.  Firms like this are usually hired by senior management; they are not hired to conduct "surveys" - they will do a lot with the input gathered in the course of the survey.

Having worked for other consultancies who operate at this level of seniority in client companies, it seems to me this effort may be getting off to a troubled start.  But it does indicate that someone very senior is asking questions and hoping BCG can deliver answers, so it's a significant development.  It is very probable that BCG was hired by Getty, or, at the very least, with Getty's approval.

Regards


Slightly off topic, but I just read the thread over at istock and, well, I admit I haven't been on the iStock forums in ages but the tone of Lobo's responses sure don't sound like the snarky Lobo responses that I remember.   They read very polite and professional in that thread, it sort of scared me.


That's because he's talking to 'outraged buyers' rather than those pain-in-the-arse contributors.
Exactly. I dont think they are going to piss off buyers in the forum. You see, customer is always king. Another refund, sir?

mlwinphoto

« Reply #29 on: March 13, 2013, 17:35 »
+1
They are just pissing this money away.  BCG will give them a bunch of BCG boxes http://en.wikipedia.org/wiki/Growth-share_matrix, tell them that they had a star that they turned into a cash cow, that is on its way into becoming a dog, and send them a bill for $5,000,000.


Exactly.

The one thing they absolutely won't spend their money on is creating good will with their contributors, and that is the ONLY thing that could turn things around for them at this point.


IMO, it's too late for that.

lisafx

« Reply #30 on: March 13, 2013, 19:37 »
0
It would be interesting to see BCG's report.

Anyone ever watch the Showtime show House of Lies? (great show!)   I'm sure the report will be completely FOS. 

« Reply #31 on: March 13, 2013, 19:43 »
+1
It would be interesting to see BCG's report.

Anyone ever watch the Showtime show House of Lies? (great show!)   I'm sure the report will be completely FOS.

Sadly businesses just value outside opinions versus internal. I've seen it at various companies. I do agree there is quite a bit of BS and spin that comes with consulting groups...and the upper their tend to eat it up... Even if its the same stuff their employees have been preaching for years.

« Reply #32 on: March 13, 2013, 19:55 »
0
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« Last Edit: May 12, 2014, 15:53 by Audi 5000 »

« Reply #33 on: March 13, 2013, 20:40 »
+4
;
« Last Edit: March 14, 2013, 10:44 by gostwyck »

« Reply #34 on: March 14, 2013, 01:06 »
0
If any of our MSG friends do get the opportunity to contribute to the survey then please ensure that, amongst their dissatisfactions, they highlight the despicable management attitude to contributors, as illustrated in the the treatment of SJLocke and others.

I took the survey - no questions about that but a place at the end to air your thoughts.

« Reply #35 on: March 14, 2013, 01:47 »
+1
They need to spend that kind of money to work out their problems - why, they could just read some of the forum posts here, the're free!


Because these are not the answers they want to hear. The consultants will provide more palatable ones, and it's worth paying a few hundred thou to hear what you want to hear.

I wonder if this is anything to do with the "technical problem" preventing Sean from being deactivated

« Reply #36 on: March 14, 2013, 09:24 »
+1
That money would have been better spent spying on their competition.

CD123

« Reply #37 on: March 14, 2013, 10:00 »
+1
The report of a survey company is just as good/informative as the mandate they received to investigate. For all we know the instruction might be, "How do we get our customers/sales back without changing any of our financial structures (e.g. commission) or break any of our recent partnership contracts?"

« Reply #38 on: March 14, 2013, 11:19 »
0
I doubt this is anything but market research and something they probably do every year. They may just be taking a different approach either by not conducting it themselves, or using a different vendor. All in all I am sure it is budgeted money set aside for this purpose and nothing new. This is typical...they will collect as much data as they can to help guide their decisions and projections moving forward. The more I think about it, it may be good they use an outside agency as long as the agency isn't full of BS (not all consultants are like House of Lies as it is in their best interest for their customers to do well after). The upper tier of companies tend to value 3rd party input over internal.

« Reply #39 on: March 14, 2013, 11:55 »
0
Do Istock Bosses really think there are so many people paying 10x more than other sites and paying artistes 10x less so stupid to continue "working" for them?
Now The new consults will tell them to give the "slaves" a "candy" so they can continue to work for them. You will see increments of 0.01% in your revenues, new games, new tips but it will remain the same s**t.

« Reply #40 on: March 14, 2013, 12:22 »
+1
Do Istock Bosses really think there are so many people paying 10x more than other sites and paying artistes 10x less so stupid to continue "working" for them?
Now The new consults will tell them to give the "slaves" a "candy" so they can continue to work for them. You will see increments of 0.01% in your revenues, new games, new tips but it will remain the same s**t.

Have a bad taste in your mouth there?

« Reply #41 on: March 14, 2013, 12:26 »
+1
Do Istock Bosses really think there are so many people paying 10x more than other sites and paying artistes 10x less so stupid to continue "working" for them?
Now The new consults will tell them to give the "slaves" a "candy" so they can continue to work for them. You will see increments of 0.01% in your revenues, new games, new tips but it will remain the same s**t.

Totally agree with you. And I say this because of the data points that already exist from their past decisions.....multiple.....not just a one off.  Getty is doing their best to sink their own ship while still playing "walk the plank" with their contributors...and some buyers.  I recall a Istock forum post where lobo belittled a buyer.  Probably not supposed to say this without posting a link, but I am not going to spend time searching for it. It was also discussed here at MSG.  They need to look at their business holistically, and they don't, unfortunately.

« Reply #42 on: March 14, 2013, 12:32 »
0
Do Istock Bosses really think there are so many people paying 10x more than other sites and paying artistes 10x less so stupid to continue "working" for them?
Now The new consults will tell them to give the "slaves" a "candy" so they can continue to work for them. You will see increments of 0.01% in your revenues, new games, new tips but it will remain the same s**t.

Have a bad taste in your mouth there?

How do you know that? Are you stalking me? :o

« Reply #43 on: March 14, 2013, 12:36 »
0
Do Istock Bosses really think there are so many people paying 10x more than other sites and paying artistes 10x less so stupid to continue "working" for them?
Now The new consults will tell them to give the "slaves" a "candy" so they can continue to work for them. You will see increments of 0.01% in your revenues, new games, new tips but it will remain the same s**t.

Have a bad taste in your mouth there?

How do you know that? Are you stalking me? :o

I'm behind you right now

« Reply #44 on: March 14, 2013, 13:16 »
+3
I just answered a "exclusive contributors survey".
Basically, they want to know what would make their exclusive contributors happy, and how to attract new customers.

I ask them to show Istock and Getty financial figures.... lol

« Reply #45 on: March 14, 2013, 13:21 »
0
I ask them to show Istock and Getty financial figures.... lol

That won't happen, I wish they would at least show a graph or something that indicates if sales are good or not. Doesn't have to be specific.

« Reply #46 on: March 14, 2013, 13:34 »
+1
I ask them to show Istock and Getty financial figures.... lol

That won't happen, I wish they would at least show a graph or something that indicates if sales are good or not. Doesn't have to be specific.

According to Rebecca, sales are "meeting expectations".

« Reply #47 on: March 14, 2013, 17:06 »
+2
I ask them to show Istock and Getty financial figures.... lol

That won't happen, I wish they would at least show a graph or something that indicates if sales are good or not. Doesn't have to be specific.

According to Rebecca, sales are "meeting expectations".
Which may not be the same a "meeting targets".

« Reply #48 on: March 14, 2013, 17:34 »
+3
I ask them to show Istock and Getty financial figures.... lol

That won't happen, I wish they would at least show a graph or something that indicates if sales are good or not. Doesn't have to be specific.

According to Rebecca, sales are "meeting expectations".
Which may not be the same a "meeting targets".

... or indeed producing any growth at all (other than the negative kind). It was a deliberately vague expression __ for commercial reasons you'll understand.

« Reply #49 on: March 14, 2013, 17:47 »
+2
No filling out new surveys for me.   They know what is wrong.  Their objectives are not the sames as contributors.  Especially exclusives!


 

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