Marketing Musings | Johnny Molson: Recent Episodes
Johnny Molson
Dark Marketing forces are affecting your business. You can't see them, but they are there just the same.
Granular digital data might look sexy. But if you don't zoom out, all you've got are rocks in your shoes.
is your business just O.K.?
Is it “O.K.” for something that’s just “O.K.” to represent your business?
Do you only think of your business as an “O.K.” business with an “O.K.” product to offer? If so, A.I. is “O.K.” for you.
A collection of interviews done this year with marketers from two continents. Each have shown how entertainment and emotion aren't just nice to have...it's something you must have in order for your ads to work harder.
With commentary from:
Roy H. Williams/Wizard of Ads
Orlando Wood/System 1 Group
Harry Beckwith/Author
Matt Owens/System 1 Group
Zach Atherton/Harmon Brothers
Digital advertising is fantastic, until it isn't. Unrealistic promises, mistakes, inconsistent reporting, and outright fraud plague this industry. A THIRTY YEAR OLD industry. Sort your life out, digital... you gots problems.
Inside the Black Box, by Bob Hoffman:
https://dl.bookfunnel.com/6kwmi0qlsq
Sources for current click through rates:
https://broadstreetads.com/successful-click-through-rate/
https://www.wordstream.com/blog/ws/2010/11/22/what-is-a-good-click-through-rate-for
https://www.linkedin.com/pulse/evolution-banner-ads-from-44-click-through-rates-todays-umer-masood/
ISBA article on missing ad dollars: https://www.isba.org.uk/article/time-change-and-transparency-programmatic-advertising
Sounds right...but you're wrong. Your brain is doing stuff when you don't even realize it's doing stuff.
Remember when you predicted 5G would change all of humanity?
You were wrong.
Maybe we should get out of the "predicting" business.
Always remember: Marketing ≠ Advertising.
There are certainly those who specialize in graphic design, video, or digital.
But we're talking Marketing. The strategy before the tactics.
If you're just thinking "advertising," you're in trouble.
A little bit of fertilizer is ok.
Doing some sales promotions is ok.
Too much fertilizer and you'll fry your lawn.
Too many promotions, and you'll fry your brand.
Les Binet's comments on price promotions
https://www.marketingweek.com/les-binet-price-promotions-recession/
Consumer behavior information from Michelle Klotz
https://insidebe.com/articles/the-dangers-of-discounting/
Sometimes success isn't what it seems.
Read the Nielsen article on the importance of awareness:
https://www.nielsen.com/insights/2021/when-it-comes-to-brand-building-awareness-is-critical/
I have a funny feeling Google Bots and spam filters are diverting articles about a certain Marine Corps base in North Carolina. Hence "Kamp Lah June" is written as Camp LeJ---e. Thanks.
Sign up to attend The One Year Marketing Plan here: https://wizardacademy.org/product/2023-september-the-one-year-marketing-plan/
Source material from:
Marketing Week | Mark Ritson on What Does and Doesn't Matter in Marketing
Mark Ritson | On The Contrary | APG Strategy Conference 2018
If somebody tells you "everything" will change this year... they're probably wrong.
Wait... they're most certainly wrong
Links
Forbes 2018 Marketing Predictions https://www.forbes.com/sites/kimberlywhitler/2017/11/01/2018-marketing-predictions-from-the-c-suite/?sh=493cd46f4c91
Research on generational groups from BBH Labs
https://www.bbh-labs.com/puncturing-the-paradox-group-cohesion-and-the-generational-myth
Gen X has way more money than Z
https://www.ncr.com/blogs/generational-marketing-to-four-consumer-generations
NBCNews prediction for 2018
https://www.forbes.com/sites/kimberlywhitler/2017/11/01/2018-marketing-predictions-from-the-c-suite/?sh=493cd46f4c91
Smart Speakers aren't making money
https://www.popsci.com/technology/amazon-alexa-lose-money/
US Census data on retail purchases:
https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf
A list of facts about your business is a dull documentary
Learn why fables are your secret weapon
Referenced in this podcast, Jonathon Gotchall's article:
https://www.fastcompany.com/1680581/why-storytelling-is-the-ultimate-weapon
Most people don't need what you are selling right now. So, why are you ignoring them?
LinkedIn research can be found here: https://business.linkedin.com/marketing-solutions/b2b-institute/how-b2b-brands-grow
Resources from this episode: Read Prof. Koenigsberg's article at HBR: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa1VjX3BodHNUVkpzTEpLWFBweXVvSXYtWjZwZ3xBQ3Jtc0ttUkZrVnBpSGVYMGY4elBHd08wWXNUcjV0TkRHOGhGM3FfUXlpbVY4dzVtX0pFWGJra2lzQzFSbDQ2YkR3NWFnbWRXU0ZVRXAyMmk2a3ZRanhsalZnajhWSFoyLXdKZHJFVGl1dExiQmdvbEZyM29IOA&q=https%3A%2F%2Fhbr.org%2F2022%2F01%2F3-strategic-options-to-deal-with-inflation (https://hbr.org/2022/01/3-strategic-o...) Meet Jamie Adamchuck from UE Coaching: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbHdRbzYwc0VlVTdsU3V1RjE4OV9aaWZmZVdPd3xBQ3Jtc0ttcWJIOXFDRXhvRkVwSGRERGt4VEdmZ3MtVkw5UC1IaVloWVBaaXNlQndQWDhPVnZ3VkpWLXAtY0pRbHVEc2dfS1Y0bzFoV0ZXSFJ1bzU3SmdTR0UxdGFiT01CaG8td3EzamZkV3dTeGczMEVBd2dfZw&q=https%3A%2F%2Fuecoaching.com%2F (https://uecoaching.com/)
And frankly, they don't build 'em any better than Steve Rae: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbjZHdy1hdU8tdEVLWkpjSjRnUFpaSWZ0M2hyUXxBQ3Jtc0tuQ2ZucmNLVjIzZEZaWVkyYmwtY1NJVXlSbTlCcGp6NElZb2s4VEwteVltSHg4Y0tiZ1NVakdkZHI3N1dyT19CX1pHRkJZZkZFaFIwbElDN0Vkb20xblRJNTJrY3NpcFJGbVNHSGtPUnlmTGtEZk5tTQ&q=https%3A%2F%2Fwizardofads.org%2Fpartner%2Fsteve-rae%2F (https://wizardofads.org/partner/steve...)
SHOW LESS
...it's the thing IN the thing that makes it work. The media does not make the message work. The message makes the media work.
Research from Les Binet and Peter Field: https://ipa.co.uk/knowledge/ipa-blog/the-greatest-hits-of-binet-field/ Their book, The Long and the Short of it: https://ipa.co.uk/knowledge/publications-reports/the-long-and-the-short-of-it-balancing-short-and-long-term-marketing-strategies/ Mark Ritson article on price promotions: https://www.marketingweek.com/ritson-era-price-promotions-over/
Strategy must come before tactics, but people rarely do that. Why is it such a controversial idea?
Generations, defined as like-minded groups that share a birth range, don't exist. This important information has been uncovered by research from BBH-Labs: https://www.bbh-labs.com/puncturing-the-paradox-group-cohesion-and-the-generational-myth If you believe "Millennials" act as a predictable group with the same values and habits, you'll be surprised to learn your belief may be flawed.
You have numerous things you want people to "know" about your business. But what matters is what's remembered.
Andy Warhol predicted that everybody would have a "Marketing Funnel" one day. It's today. www.molsonpartners.colm
Columbia University says you know 600 people: https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about%20600%20people. (https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about%20600%20people.) ...about 150 of them you'd call a casual acquaintance: https://www.newyorker.com/science/maria-konnikova/social-media-affect-math-dunbar-number-friendships (https://www.newyorker.com/science/maria-konnikova/social-media-affect-math-dunbar-number-friendships) The definition of a "Representative Sample:" https://www.investopedia.com/terms/r/representative-sample.asp#:~:text=A%20representative%20sample%20is%20a,three%20males%20and%20three%20females. (https://www.investopedia.com/terms/r/representative-sample.asp#:~:text=A%20representative%20sample%20is%20a,three%20males%20and%20three%20females.) The average person watches 5 hours 21 minutes of video daily: https://www.thinkbox.tv/research/nickable-charts/ultimate-nickables/tv-advertisings-ultimate-nickable-charts/ (https://www.thinkbox.tv/research/nickable-charts/ultimate-nickables/tv-advertisings-ultimate-nickable-charts/) eMarketer says 41 minutes is spent watching YouTube: https://www.emarketer.com/content/us-youtube-advertising-2020 (https://www.emarketer.com/content/us-youtube-advertising-2020) Neilsen reports you watch 3 hours 27 minutes of live TV: https://abcnews.go.com/Lifestyle/wireStory/study-shows-explosive-growth-time-spent-streaming-tv-68940265 (https://abcnews.go.com/Lifestyle/wireStory/study-shows-explosive-growth-time-spent-streaming-tv-68940265) And they say 69% of the population reads the newspaper: https://letter.ly/us-newspaper-circulation/ (https://letter.ly/us-newspaper-circulation/) You spend over an hour each day listening to the radio: https://www.statista.com/statistics/761889/daily-time-spent-radio/ (https://www.statista.com/statistics/761889/daily-time-spent-radio/) ...including while you're listening to stuff online: https://www.edisonresearch.com/edison-researchs-top-ten-findings-from-2019-so-far/ (https://www.edisonresearch.com/edison-researchs-top-ten-findings-from-2019-so-far/) Personally, I find this interesting. But remember, I'm media agnostic: https://molsonpartners.com/media-agnosticism/ (https://molsonpartners.com/media-agnosticism/)
Here are some ways to have a really good sale - - - if you're into that kind of thing www.molsonpartners.com
Maybe instead of starting your ad with the negative stuff a customer is experiencing...future-fy your ad. I'll show you how.
Links mentioned in this episode: https://molsonpartners.com/the-secret-to-increasing-facebook-likes-560-in-one-week/ (See the full article here) Visit https://www.facebook.com/DoesntDoMuchOfAnything ("A Page That Doesn't Do Anything") on Facebook https://www.wsj.com/articles/p-g-slashed-digital-ad-spending-by-another-100-million-1519915621 (Wall Street Journal article) about P&G pressure for online advertising to be more transparent about visitors and bots. http://think.storage.googleapis.com/docs/5-factors-of-viewability_infographics.pdf (Think With Google PDF )acknowledges 50% of ads are not seen. https://www.forbes.com/sites/augustinefou/2021/01/02/when-big-brands-stopped-spending-on-digital-ads-nothing-happened-why/?fbclid=IwAR00_zL_9RU_cni4o_bFz4puGhO3xw2ypmYb6oHKP7XD0SSzrPVkcYAgLYI&sh=2e8bf2d01166 (Forbes article on companies dropping) digital and seeing no decrease in revenue https://www.wizardofads.org (Wizard Of Ads) site to search for a digital expert
Sign up for Martinis and Marketing: https://www.wizardacademy.org/product/martinisandmarketingjanuary2021/ Information about Dr. Gerald Zaltman's research from Harvard https://hbswk.hbs.edu/archive/how-customers-think-the-subconscious-mind-of-the-consumer-and-how-to-reach-it
The McDonald's "carrots" taste-test study: https://www.nytimes.com/2007/08/14/health/nutrition/14nugg.html
Links from this episode: https://en.wikipedia.org/wiki/E._St._Elmo_Lewis (E. St. Elmo Lewis on Wikipedia) https://www.amazon.com/How-Brands-Grow-What-Marketers/dp/1511383933 (How Brands Grow by Byron Sharp)
Skip the Millennials and Gen-Z-ers. The generation you need to concern yourself with is Generation Gem.
"Everybody just wants the lowest price!!" Is that true? Or do people want a good "value." That's a tough concept, but let's muse about it...shall we?
Some helpful links: The https://www.wsj.com/articles/is-it-insane-to-start-a-business-during-coronavirus-millions-of-americans-dont-think-so-11601092841 (Wall Street Journal) reports that applications for Employer Identification Numbers are UP almost 19% over this time last year (last year the year without the pandemic, in case you’ve lost track). There hasn’t been a surge in potential new businesses like this since 2007. 82.76% of customers say they prefer a local business over a large corporation. 8 in 10 say they would happily pay more for something, if it means supporting a local biz, according to https://redeggmarketing.com/local-business-consumer-sentiment-study/ (Red Egg Marketing). https://www.marketingscience.info/ (The Ehrenberg-Bass Institute for Marketing Science)
If you're advertising your business and you decide where to advertise before you build a strategy... you're doing it backward. See what we believe here: https://youtu.be/2TLitkaNI8M
If you sell a commodity that's named the same thing everyplace else, give yours a better name.
For more information on Binet & Field and their pivotal book https://ipa.co.uk/knowledge/publications-reports/the-long-and-the-short-of-it-balancing-short-and-long-term-marketing-strategies#:~:text=investment%20in%20advertising.-,The%20Long%20and%20the%20Short%20of%20It%3A%20Balancing%20Short%20and,long-term%20brand-building. (The Long and the Short of It, click the link.)
From the article:https://molsonpartners.com/what-is-your-price-tag-advertising/ (https://molsonpartners.com/what-is-your-price-tag-advertising/)
Read the https://molsonpartners.com/?p=3512 (full article here) Examples of mistakes making things better in https://youtu.be/7tEcgTLmSVg (this video) Roy Williams' https://molsonpartners.com/twelve-most-common-mistakes-in-advertising-roy-h-williams/ (12 Most Common Mistakes in Advertising)
If you think getting in front of the most people is the most important thing...perhaps it's time to rethink.
For the original article: https://molsonpartners.com/this-never-works/ (https://molsonpartners.com/this-never-works/) Quick video explaining this whole thing: https://youtu.be/P4QDURWg8NA (https://youtu.be/P4QDURWg8NA) Learn more about https://www.netpromoter.com/know/ (Net Promoter Scores) “Telling More Than We Can Know,” Nisbett and Wilson, University of Michigan, http://people.virginia.edu/~tdw/nisbett&wilson.pdf (Psychological Review Vol 84. No 3).)
A little bit on the https://www.sciencedirect.com/topics/medicine-and-dentistry/habituation (phenomenon of habituation) https://www.amazon.com/Secret-Formulas-Wizard-Ads-Williams-ebook/dp/B00284AZQU (Secret Formulas of The Wizard of Ads) Send me your ad and I'll let you know if anything looks too much like the same same: johnny@molsonpartners.com
What if you made a list of the things that will be the SAME after COVID-19. Will it be longer than the list of things that will change? I think yes. Here's an article from https://www.inc.com/jeff-haden/20-years-ago-jeff-bezos-said-this-1-thing-separates-people-who-achieve-lasting-success-from-those-who-dont.html (Inc Magazine) where Jeff Bezos asks what will be the same in 10 years.
Read the article here: https://molsonpartners.com/basically-the-basics/ (https://molsonpartners.com/basically-the-basics/)
This episode is all about what you should...and shouldn't say in your advertising right now Still not sure how to do it? Send me an email, johnny@molsonpartners.com, with the subject “Say This.” Tell me what your business is and what you are doing differently right now that you think people need to know (or just send me your ad). I’ll write you a clean, one-line sentence that will get the job done. If I think it doesn’t need to be said, I’ll simply tell you to keep doing what you’re doing and remove all the ugly “coronavirus-plane-is-on-fire” stuff in your ad.
In today's podcast: Johnny's video with a deeper dive on the topic: https://youtu.be/dBOYTccq0D0 (https://youtu.be/dBOYTccq0D0) Roy Williams' letter to his partners: https://www.mondaymorningmemo.com/chicken-little/ (https://www.mondaymorningmemo.com/chicken-little/) Sir Michael Caine reads Rudyard Kipling's "If--" https://www.youtube.com/watch?v=EEFMVIfl2UY (https://www.youtube.com/watch?v=EEFMVIfl2UY) Professor Mark Ritson's Marketing Week article: https://www.marketingweek.com/mark-ritson-marketing-covid-19/ (https://www.marketingweek.com/mark-ritson-marketing-covid-19/)
Links from today's episode: "Marketing is Dead" according to https://hbr.org/2012/08/marketing-is-dead (this assessment from Harvard.) Remember when https://www.imdb.com/title/tt0113957/ (the internet was new? 25 years ago?) It’s no longer new, nor is it novel. The https://study.com/academy/lesson/history-of-online-advertising.html (very first bannar ad was for AT&T) The https://www.mediapost.com/publications/article/290285/north-america-banner-click-through-rate-up-to-014.html (most recent data I can find) (2016) on click-through rates. As I’ve written about https://molsonpartners.com/what-if-its-not-advertising/ (here), https://molsonpartners.com/marketing-advertising/ (here), and https://molsonpartners.com/dave-said-what/ (here), marketing is the full composite of everything you do that touches your customers.
What made Dave say "Marketing is too important to be left to the marketers?" A dig at marketing? Or something else?
…and it’s not a war either. Mentioned in this podcast: https://www.imd.org/research-knowledge/articles/so-you-think-your-company-is-customer-led/ (International Institute for Management Development) https://www.newvoicemedia.com/en-us/resources/serial-switchers-swayed-by-sentiment-how-bad-emotive-customer-experiences-are-costing-brands-billions (2018 Serial Switchers report) https://hbr.org/1988/11/what-the-hell-is-market-oriented (Harvard's article "What the Hell is Market Oriented?") https://www.amazon.com/Be-Like-Amazon-Lemonade-Stand/dp/1932226052/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= (“Be Like Amazon: Even a Lemonade Stand Can Do It") https://www.amazon.com/Jenkins-Told-Forgotten-Principles-Business/dp/B07VBGXLBW/ref=sr_1_1?crid=2VMOFQIY3Q2RZ&keywords=mr+jenkins+told+me&qid=1569078199&s=books&sprefix=mr+jenken%2Cstripbooks%2C174&sr=1-1 (“Mr. Jenkins Told Me… Forgotten Principles That Will Grow Any Business.”) Every single employee, from the CEO to the receptionist, has to answer these questions: Am I making life better for our customer? Am I making this easier for our customer? When was the last time I talked to my customer about what they need from us? Do I even know what that is? Really? If I don’t know, how can I find out?
https://youtu.be/462jWF-P9Z8 (https://youtu.be/462jWF-P9Z8)
Mentioned in this episode: https://www.hbs.edu/Pages/default.aspx (The Harvard Business School) and https://hbr.org/1988/11/what-the-hell-is-market-oriented (“Market Orientation”)