Physics and marketing don’t seem to have much in common, or do they? Watch this TED talk by Dan Cobley (a Marketing Director at Google), who uses Newton’s Second Law, Heisenberg’s Uncertainty Principle and a few more bits of physics to explain the theory of branding…
It seems that money can buy happiness but only if you spend it in the right way. In their new book, Happy Money: The Science of Smarter Spending, Elizabeth Dunn and Michael Norton lay out the five principles for turning cash into pleasure:
- Buy experiences. Activities like concerts, days out and vacations are more satisfying than buying objects.
- Make it a luxury. Only have your favourite things occasionally, that way you will continue to enjoy them.
- Buy time. Extra time and the freedom to do what you want are more satisfying than money.
- Delay gratification. Having to wait will make you appreciate things more, so buy now and experience later.
- Treat others. Spending money on other people makes us happier than spending it on ourselves.
What’s this got to do with business? To pick one of the above – Make it a luxury – this can be used to shape behaviour by using the power of scarcity. People are programmed to want things more if there is limited availability (the power of ‘sales’); and if it’s memorable, which can of course be enhanced by having to wait (the power of anticipation)…
Book: Happy Money: The Science of Smarter Spending by Elizabeth Dunn and Michael Norton (Simon & Schuster, 2013)
Talk: Great presentation by Michael Norton:
Executives are the Simon Cowell of the business world: impatient, critical, often caustic. But they’re also desperately searching for talent. How do you make the right impression? Is the secret just to tell a good ‘story’? Here’s five hot tips to get you going:
“The best style is the style you don’t notice.” Somerset Maughan.
If you think an ‘elevator pitch’ is just a frenzied two-minute sales pitch you would be wrong! Well, come on, how do you react when someone backs you into a corner and gives you their best marketing shot? Yep, it’s often too much, too quickly, and too in your face. Read this article by Geoffrey James in Inc. magazine to brush up your style:
“All models are wrong, but some are useful.” George Box, 1979.
Most management models are simple tools, frameworks or checklists. And any self-respecting model also has a self-explanatory (often 2×2) matrix to go with it, of the sort that looks good in a presentation, or on a flipchart or whiteboard. That being said most models are based on theories and have been checked out in practice. They also provide a means of framing (the useful bit!) strategic, functional, process or people-orientated issues; and are of course a source of plenty of new jargon to use in meetings…
So what are the Top 40 models? Here’s a starter list:
Talent Director, Head of People Strategy, People and Performance Tsar… Have you noticed that HR is moving in two distinct directions? There’s the bit that deals with wages, rations and fairness, and the other bit that wants to strut its stuff on a bigger stage: to be as sexy as marketing and as important as finance. To be taken seriously as a big hitter in the strategy stakes. And perhaps this is right because what distinguishes most organisations from each other is not necessarily what they do, but who is doing it. It’s also the case that awareness of ‘brand’ is becoming essential to organisations both big and small, especially since what a customer experiences as a brand is usually what gets delivered via its employees.
So where’s all this going? Perhaps talk of talent and brand is really pointing to the fact that HR should be part of marketing. After-all the strategic HR plan is the corner-stone of competitive differentiation, and ultimately the guardians of the brand are the marketeers.
Photo credit: Zirconicusso/freedigitalphotos.net
It seems your Smartphone use predicts your social life, travel interests, risk of disease and even your political views. Have a look at this post on Dr Shock’s blog (links to Wall Street Journal video):
Marketing and PR agencies sometimes get it horribly wrong. PHD, who are in the biz, have produced a video for other marketing firms which manages to make a whole catalogue of mistakes. Watch and squirm. Seriously though, there’s something here about really not understanding young people, let alone the intended audience, and probably social media as well. It’s also a bit scary!
Warning: Some of the comments following the video are rather rude.