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Author Topic: iStockPhoto has hired the Boston Consulting Group  (Read 10592 times)

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Pinocchio

« on: March 12, 2013, 17:50 »
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


« Reply #1 on: March 12, 2013, 17:57 »
+1
Kind of a weird delivery method. I would have just deleted an email with a random survey from some company I've never heard of. I would think that is what most people would do.

« Reply #2 on: March 12, 2013, 17:58 »
+1
I think it's obvious why they leveraged BCG, but the bigger question for me anyhow is are they doing it because they don't understand the market after all? It would be my hope that the education they get is related not just to buyers but how they treat contributors can affect buying decisions.  Anyone have any fairy dust I can borrow? :o

« Reply #3 on: March 12, 2013, 18:05 »
0
I got the mail, and there was no indication who it was initiated by, outside of BCG.  Plus, they said they are giving away 100 iPad minis, which at first said 'scam!' to me.  That's $33,000 just to elicit responses!

Pinocchio

« Reply #4 on: March 12, 2013, 18:08 »
+3
I got the mail, and there was no indication who it was initiated by, outside of BCG.  Plus, they said they are giving away 100 iPad minis, which at first said 'scam!' to me.  That's $33,000 just to elicit responses!

I guess we live in the land of irony....  You should frame the e-mail - seriously.

Regards


« Reply #5 on: March 12, 2013, 18:11 »
+8
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!

I wonder if the consultancy firm are working on 15%?

« Reply #6 on: March 12, 2013, 18:17 »
+22
They could have hired me (or any of m'learned friends on MSG) to tell them what they were doing wrong ... in about 15 minutes ... and for free. In fact we have all spent our precious time doing so, innumerous times, on their own forum but they chose to take no notice. Then they wonder why sales are falling off a cliff. You really couldn't make this stuff up.


« Reply #7 on: March 12, 2013, 18:20 »
+15
If their admins were active in all commercial social media boards including their own forums, msg  and designer resources they would have a much better pulse on the market.

Instead of just getting involved they choose the most indirect methods available. They must have a lot of money to waste for information the internet communities/blogs all provide for free.

ShadySue

« Reply #8 on: March 12, 2013, 18:30 »
+3
They sent out extensive surveys last year, and not much seemed to improve, except for a bit of token 'communication' on the forums occasionally.

I guess this one is for buyers only? Fair enough, so long as the buyers don't take this apparently random email as the OP did.

EmberMike

« Reply #9 on: March 12, 2013, 18:36 »
+13
I think it's obvious why they leveraged BCG, but the bigger question for me anyhow is are they doing it because they don't understand the market after all?

I think it is abundantly clear from this and the various other surveys they've conducted that they don't understand the market. I guess they're just hoping for a different result if the survey is conducted by a 3rd party.

Good ol' istock. Still doing the same thing over and over again, hoping for a different outcome.

« Reply #10 on: March 12, 2013, 19:18 »
+3
I think it is abundantly clear from this and the various other surveys they've conducted that they don't understand the market. I guess they're just hoping for a different result if the survey is conducted by a 3rd party.

Good ol' istock. Still doing the same thing over and over again, hoping for a different outcome.

It's ok __ if sales have fallen then they can just increase prices again or fanny about with the exchange rates for non-US customers. Easy really when you think about it.

Oh wait __ you mean they already tried that? Hmmm. They need to get some decent consultants in then. This issue is obviously way over the heads of the existing management.

« Reply #11 on: March 12, 2013, 19:30 »
0
I got that survey and participated. Really felt like they were trying to determine market share and top of mind awareness plus price thresholds of buyers. Then there were questions about ease of use and content quality.

i think this is a good thing. the survey was indeed created by professionals after alot of discussions which tells ya they are really digging to find answers in order to improve iStockphoto. I agree that GETTY really does not know what to do with IS. But at least they are throwing some research and time to make it better.

OX
...so where is my iPad?

EmberMike

« Reply #12 on: March 12, 2013, 19:44 »
+2
...But at least they are throwing some research and time to make it better.

They've already done this, many times. There have been surveys done already that addressed the same issues and questions. How many times do they need to hear the same answers before they do something with the data?

« Reply #13 on: March 12, 2013, 19:53 »
+8
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. 


gillian vann

  • *Gillian*
« Reply #14 on: March 12, 2013, 20:08 »
+6
oh can we all do the survey? I'd like to win an iPad mini (funded by, um, us?) I'll be sure to thank you all if I win :)

« Reply #15 on: March 12, 2013, 20:10 »
+10
They could have hired me (or any of m'learned friends on MSG) to tell them what they were doing wrong ... in about 15 minutes ... and for free. In fact we have all spent our precious time doing so, innumerous times, on their own forum but they chose to take no notice. Then they wonder why sales are falling off a cliff. You really couldn't make this stuff up.

Yeah, duh... Everybody knows they need to charge buyers twice as much and pay contributors half as much. That's the winning formula.  ;D

« Reply #16 on: March 12, 2013, 20:15 »
0
oh can we all do the survey? I'd like to win an iPad mini (funded by, um, us?) I'll be sure to thank you all if I win :)

I think we all deserve an iPad mini (funded by, um, us?) just to compensate us, in a very small part, for the losses we've endured as a result of the RC system alone.

Personally I could have bought at least 10 iPad minis from the loss of royalties since the RC stsyem was introduced.

« Reply #17 on: March 13, 2013, 05:49 »
+3
They could have hired me (or any of m'learned friends on MSG) to tell them what they were doing wrong ... in about 15 minutes ... and for free. In fact we have all spent our precious time doing so, innumerous times, on their own forum but they chose to take no notice. Then they wonder why sales are falling off a cliff. You really couldn't make this stuff up.

+1 , +1 , +1 ..... i believe 10 seconds are enough: Stop being so greedy with contributors and clients.
« Last Edit: March 13, 2013, 05:52 by nicku »

gillian vann

  • *Gillian*
« Reply #18 on: March 13, 2013, 06:14 »
+1
You really couldn't make this stuff up.

this should be quote of the year, because week after week more stuff just keeps happening. 

« Reply #19 on: March 13, 2013, 11:00 »
+2
Companies do these surveys all the time...you can participate or not. Not a big deal, markets change. The bigger issue is the email screams SPAM...they should of made it more clear why it was being sent or a preemptive email from iStock explaining the survey was coming fro a 3rd party would probably of garnered more participation than the iPad giveaway, which just makes it seem more like SPAM.

lisafx

« Reply #20 on: March 13, 2013, 11:53 »
+10
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. 

« Reply #21 on: March 13, 2013, 12:06 »
+1
When a company starts handing money to high 'consultants' to tell them why their business isn't working, the end is near.   Or if not actually near,  definitely closer.

Poncke

« Reply #22 on: March 13, 2013, 12:15 »
+1
A company I worked for hired an external advice bureau and they went bust eventually. Even sending their supplier's parts to China to be copied and sell under their own brand didnt save them from going tits up.

« Reply #23 on: March 13, 2013, 12:57 »
0
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.


I agree hiring consultants can be throwing money away, but it is common and I doubt they are the only stock agency who has done so. Also, can't fault them for wanting to know their market...can fault them on their approach though.

The only thing that could turn them around is for them to fix the many issues with the site. The site is broken and dated...they know it, we know it, the buyers know it. I am just surprised how little has been done over such a long period of time in that regard.


wds

« Reply #24 on: March 13, 2013, 13:14 »
0
It would be interesting to see BCG's report.

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
.
« 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!

« Reply #50 on: March 14, 2013, 18:05 »
+4
No filling out new surveys for me.   They know what is wrong.  Their objectives are not the sames as contributors.  Especially exclusives!

Can't do any harm telling them one more time, especially if you hope to remain exclusive for as long as possible. The more people that tell them the same things, the more likely that IS will take some notice.

It seems likely to me that this survey has been prompted by the numbers of exclusives handing back their crowns. Might as well tell them what they need to do for you to keep yours.

The survey answers might even be the ammunition that IS requires to make Getty understand what is going on and give them the authority to take the appropriate action __ even if it does mean a reduction in the profits in the short to medium term.


« Reply #51 on: March 15, 2013, 03:06 »
+1
and give them the authority to take the appropriate action __ even if it does mean a reduction in the profits in the short to medium term.

LOL!

Microbius

« Reply #52 on: March 15, 2013, 09:37 »
+4
I really tried to get the survey filled in so I could say why I don't buy there anymore as a designer- the company has zero ethics and treats contributors like sh*t- but I couldn't get through it.

It is incredibly poorly constructed/ worded which meant the whole experience was far too long winded and frustrating, I didn't have answers for half the question

e.g. "What percent of your company's total spend ($) on images, will go to stock photography vs.  in-house photographers?"
How the heck am I supposed to give a percentage spend for work I do in house?

Or having to rank reasons for buying less stock this year site by site 1-5 from a long list, when the reason I said there was a decrease in purchases on every site is that I will be choosing to take on less design work overall.

I can't believe how much these firms get paid to put this cr*p together! What a waste of my time (and my money too I guess as it's a cut of my commission going to pay for it!)



« Reply #53 on: March 15, 2013, 11:11 »
+8

I can't believe how much these firms get paid to put this cr*p together! What a waste of my time (and my money too I guess as it's a cut of my commission going to pay for it!)

I met a tip-top consultant once, she had been employed by Maggie Thatcher at one time, she explained to me that the job basically consists of listening to people tell you what the problem is and then tell them what they told you, since they really know the answer, anyway.

Good money for old rope.

« Reply #54 on: March 15, 2013, 11:15 »
+5
Or an expensive backup opinion to support some managers thoughts to push on to the organization. "See, the survey said this too! So I must be right!"

« Reply #55 on: March 15, 2013, 11:25 »
-5
.
« Last Edit: May 12, 2014, 15:59 by Audi 5000 »

lisafx

« Reply #56 on: March 15, 2013, 11:33 »
+5
It's interesting to see that a few of Shutterstock's higher ups worked at the Boston Consulting Group before joining Shutterstock.  Financial Planning & Analysis Manager, Calvin Peng and Thilo  Semmelbauer, President and Chief Operating Office

Do you guys love the Boston Consulting Group now?   ::)

Nope.  Not at all.  Simply one more reason to worry about the direction SS may be headed in. 

« Reply #57 on: March 15, 2013, 15:31 »
+1

I can't believe how much these firms get paid to put this cr*p together! What a waste of my time (and my money too I guess as it's a cut of my commission going to pay for it!)

I met a tip-top consultant once, she had been employed by Maggie Thatcher at one time, she explained to me that the job basically consists of listening to people tell you what the problem is and then tell them what they told you, since they really know the answer, anyway.

Good money for old rope.
It's interesting to see that a few of Shutterstock's higher ups worked at the Boston Consulting Group before joining Shutterstock.  Financial Planning & Analysis Manager, Calvin Peng and Thilo  Semmelbauer, President and Chief Operating Office

Do you guys love the Boston Consulting Group now?   ::)

Actually I would expect people who worked at BCG to be pretty sharp, capable, and good to have in management as they've spent a lot of time analyzing bad management.  Its more the use of consulting businesses that I don't like.  As BaldricksTrousers quoted, it is basically telling people what they already know and sending them a big bill.  Really I blame the people who hire them, not the consultants themselves. 

ShadySue

« Reply #58 on: March 15, 2013, 15:41 »
+9
On the remote chance someone hasn't seen this oldie but goodie before:

A shepherd was herding his flock in a remote pasture when suddenly a brand-new BMW advanced out of the dust cloud towards him. The driver, a young man in a Broni suit, Gucci shoes, Ray Ban sunglasses and YSL tie, leaned out the window and asked the shepherd... "If I tell you exactly how many sheep you have in your flock, will you give me one?"
The shepherd looked at the man, obviously a yuppie, then looked at his peacefully grazing flock and calmly answered "sure".

The yuppie parked his car, whipped out his IBM ThinkPad and connected it to a cell phone, then he surfed to a NASA page on the internet where he called up a GPS satellite navigation system, scanned the area, and then opened up a database and an Excel spreadsheet with complex formulas. He sent an email on his Blackberry and, after a few minutes, received a response. Finally, he prints out a 130-page report on his miniaturized printer then turns to the shepherd and says, "You have exactly 1586 sheep.
"That is correct; take one of the sheep." said the shepherd.
He watched the young man select one of the animals and bundle it into his car.

Then the shepherd says: "If I can tell you exactly what your business is, will you give me back my animal?"
"OK, why not." answered the young man.
"Clearly, you are a consultant." said the shepherd.
"That's correct." says the yuppie, astonished, "but how did you guess that?"
"No guessing required." answers the shepherd. "You turned up here although nobody called you. You want to get paid for an answer I already knew, to a question I never asked, and you don't know cr*p about my business......

Now - give me back my dog."
« Last Edit: March 15, 2013, 15:46 by ShadySue »

« Reply #59 on: March 15, 2013, 15:44 »
+3

I can't believe how much these firms get paid to put this cr*p together! What a waste of my time (and my money too I guess as it's a cut of my commission going to pay for it!)

I met a tip-top consultant once, she had been employed by Maggie Thatcher at one time, she explained to me that the job basically consists of listening to people tell you what the problem is and then tell them what they told you, since they really know the answer, anyway.

Good money for old rope.
It's interesting to see that a few of Shutterstock's higher ups worked at the Boston Consulting Group before joining Shutterstock.  Financial Planning & Analysis Manager, Calvin Peng and Thilo  Semmelbauer, President and Chief Operating Office

Do you guys love the Boston Consulting Group now?   ::)

Being a 'consultant' very often leads to being offered top positions at the businesses you are advising. Happens all the time.

« Reply #60 on: March 15, 2013, 16:12 »
0
Yes gostwyck, and iS want hear what they want to hear; and the consultant say what iS want hear, because they don't want to contradict the cash cow.

« Reply #61 on: March 15, 2013, 20:58 »
0
i got an email - clearly indicated from istock - questions were very good &guess BCG wrote them.  didn't see anything about winning an ipod - wouldn't have taken it seriously if there had been.  the message said it was a survey for all exclusive istock contributors.  anyway i answered it in depth, also cited a particularly rude comment made to me, but no names.

« Reply #62 on: March 15, 2013, 21:12 »
0
i got an email - clearly indicated from istock - questions were very good &guess BCG wrote them.  didn't see anything about winning an ipod - wouldn't have taken it seriously if there had been.  the message said it was a survey for all exclusive istock contributors.  anyway i answered it in depth, also cited a particularly rude comment made to me, but no names.

That is a different survey to exclusives the BCG survey was for buyers

« Reply #63 on: March 16, 2013, 06:54 »
0
Quote
It's interesting to see that a few of Shutterstock's higher ups worked at the Boston Consulting Group before joining Shutterstock.  Financial Planning & Analysis Manager, Calvin Peng and Thilo  Semmelbauer, President and Chief Operating Office

Do you guys love the Boston Consulting Group now?   ::)


Maybe they realized what a farce their job was and wanted to do some real work.


« Reply #64 on: March 16, 2013, 10:29 »
0
Are you people really this naive? consulting is just an age old way of wall street to extract money from companies being gutted. The good pals at the consulting company does just enough to have an excuse for handing over a bill and nobody gives a flying hoo anout any result of any survey

« Reply #65 on: March 16, 2013, 10:58 »
+7
Have any of you actually worked with consultants, or served as consultants yourselves?  I've done both, and the quality of consultants' work varies pretty much like any other kind of service.  It depends as much on how the hiring firms describe what they want done and how they want the results to be delivered as it does on the ability of the consultants.  Even the best and most honorable consultants have to deliver news in a way that will be accepted and stand a chance of getting them additional work, which means not telling the client that their kids are ugly and they dress them funny.  It's a balancing act, but one that helps the client more than being brutally honest.

I've been at places that hire consultants, and I've even been a consultant on a few memorable occasions.  It's a job like any other, but one that has special challenges due to its short term nature.  In this case I'd say that the exercise is a waste of time and money, because I believe iStock already has their mind made up before it starts.  That's not the consultant's fault, and if they try to budge iStock in the process, they'll try to do it in a way that doesn't preclude further work from iStock and Getty.  We'd like them to be more direct in their advice than they probably will be, but I understand why that's not likely to be so.

« Reply #66 on: March 16, 2013, 11:22 »
0
Have any of you actually worked with consultants, or served as consultants yourselves?  I've done both, and the quality of consultants' work varies pretty much like any other kind of service.  It depends as much on how the hiring firms describe what they want done and how they want the results to be delivered as it does on the ability of the consultants.  Even the best and most honorable consultants have to deliver news in a way that will be accepted and stand a chance of getting them additional work, which means not telling the client that their kids are ugly and they dress them funny.  It's a balancing act, but one that helps the client more than being brutally honest.

I've been at places that hire consultants, and I've even been a consultant on a few memorable occasions.  It's a job like any other, but one that has special challenges due to its short term nature.  In this case I'd say that the exercise is a waste of time and money, because I believe iStock already has their mind made up before it starts.  That's not the consultant's fault, and if they try to budge iStock in the process, they'll try to do it in a way that doesn't preclude further work from iStock and Getty.  We'd like them to be more direct in their advice than they probably will be, but I understand why that's not likely to be so.

^^^ Wise words.

PaulieWalnuts

  • On the Wrong Side of the Business
« Reply #67 on: March 16, 2013, 12:49 »
0
Have any of you actually worked with consultants, or served as consultants yourselves?  I've done both, and the quality of consultants' work varies pretty much like any other kind of service.  It depends as much on how the hiring firms describe what they want done and how they want the results to be delivered as it does on the ability of the consultants.  Even the best and most honorable consultants have to deliver news in a way that will be accepted and stand a chance of getting them additional work, which means not telling the client that their kids are ugly and they dress them funny.  It's a balancing act, but one that helps the client more than being brutally honest.

I've been at places that hire consultants, and I've even been a consultant on a few memorable occasions.  It's a job like any other, but one that has special challenges due to its short term nature.  In this case I'd say that the exercise is a waste of time and money, because I believe iStock already has their mind made up before it starts.  That's not the consultant's fault, and if they try to budge iStock in the process, they'll try to do it in a way that doesn't preclude further work from iStock and Getty.  We'd like them to be more direct in their advice than they probably will be, but I understand why that's not likely to be so.

As a consultant for one of the world's largest companies I'd also question whether any of you have ever served as a consultant or hired one. If you never have, to make such assumptions is pretty absurd.

For Istock to hire consultants they, or Getty, have likely realized they aren't making progress in the right direction with buyers and have run out of ideas that are producing positive results.

ShadySue

« Reply #68 on: March 16, 2013, 12:55 »
+2
Yeah, but they've had surveys with contributors, and don't like what they heard and certainly didn't act on the feedback they got.
And surveys with buyers, and presumably didn't like what they heard, and presumably didn't act on that either, as buyers seem to be disappearing.

Pinocchio

« Reply #69 on: March 16, 2013, 12:55 »
+2
Have any of you actually worked with consultants, or served as consultants yourselves?  I've done both, and the quality of consultants' work varies pretty much like any other kind of service.  It depends as much on how the hiring firms describe what they want done and how they want the results to be delivered as it does on the ability of the consultants.  Even the best and most honorable consultants have to deliver news in a way that will be accepted and stand a chance of getting them additional work, which means not telling the client that their kids are ugly and they dress them funny.  It's a balancing act, but one that helps the client more than being brutally honest.

I've been at places that hire consultants, and I've even been a consultant on a few memorable occasions.  It's a job like any other, but one that has special challenges due to its short term nature.  In this case I'd say that the exercise is a waste of time and money, because I believe iStock already has their mind made up before it starts.  That's not the consultant's fault, and if they try to budge iStock in the process, they'll try to do it in a way that doesn't preclude further work from iStock and Getty.  We'd like them to be more direct in their advice than they probably will be, but I understand why that's not likely to be so.

Having worked for various members of the "big four" for a combined total of more than 10 years in both the commercial and government spaces, Disorderly's post is a good assessment of what happens.  Some clients, generally those who are honest with themselves and the consultants, get a lot of value, primarily in the form of risk mitigation.  Being an effective consultant requires a great deal of diplomacy and persuasiveness as well as technical skill, because implementation almost always requires some degree of cooperation from all levels of client staff.  Consultants know this, and so the task of helping management to gain and hold the required commitment often becomes a key element of their role.  Ironically, this dynamic is very similar to the challenge that iStock now faces in trying to retain contributors and buyers they have antagonized, or recruit new ones after the recent publicity (I am assuming that's part of iStock's motivation for the recent "surveys").  Karma.

Regards

« Reply #70 on: March 20, 2013, 12:38 »
+9
Sometimes these surveys help. Doing a google search, found this letter on ebay:

« Reply #71 on: April 11, 2013, 07:16 »
0
I got the mail, and there was no indication who it was initiated by, outside of BCG.  Plus, they said they are giving away 100 iPad minis, which at first said 'scam!' to me.  That's $33,000 just to elicit responses!

Aside from the one IS member who said he got a mini, did anyone hear of anyone else getting one?  Did they really give out the prizes?


 

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