Monthly Archives: May 2016

Quit Yelling At The Kids

Any of us who are parents have felt the need to yell at the kids.  Maybe it’s during the terrible twos when every request is met with “no” or maybe it’s when they want to know “why” to any statement that passes your lips.  It’s hard not to use the words you swore you’d never utter: “because I said so.”  Hopefully, you resist the urge to yell as well, since the tone and volume become way more important than the actual words.

There is a business lesson in there, one that’s supported by some research from the folks at Lithium Technologies.  They asked the Harris Poll people to look into how effective ads were in social media news feeds.  As this report summarized it, the research:

…found that 74 percent of millennials (ages 20 through 39) and Gen-Z respondents (16 through 19) object to being targeted by brands on their social media feeds. Even more ominous for brands: 56 percent of the nearly 2,500 respondents to the study said they have reduced social media use or eliminated it altogether due to ads in their news feeds.

In other words, not only are you turning off your target to your stream by force-feeding them messages but you might just be enticing them to be less visible to you as they migrate to other, less cluttered environments.  We all need to remind ourselves that social media is about connecting with friends.  Shouting at them, especially if that about which you’re shouting is not about them but about your brand, is misguided.  It’s the person you invite into your home for a cocktail party that becomes the unwanted center of attention, singing loudly, dancing around, and otherwise embarrassing themselves.  Party over.

The report has a good reminder: we build trust by talking with, not at, our customers.  So quit yelling at the kids, won’t you?

 

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The End Is Nigh?

Walk around any big city and inevitably you’ll come across some person wearing or carrying a sign proclaiming that the end is nigh.  They’re warning about an impending apocalypse.  While they’re generally seen as a little odd (a polite way of saying nuts), I suppose at some point they’re going to be right.  Hopefully, that time isn’t close.

With that preface, and with the recognition that my timing might be off, I think we’re seeing signs that the end is nigh for the TV industry in which I grew up as a businessperson.  If you’ve been paying any attention to the media landscape over the last decade, you’ve seen some changes in what I’ll call Big TV (cable and broadcast).  To a certain extent, TV has adapted and their basic revenue model hasn’t changed a whole lot.  Sure, broadcast TV has done a good job of mirroring the cable model of dual revenue streams by gaining carriage fees, but the ad model – dollars for eyeballs – is pretty much the same as when I sold, even though the demographics are a bit more precise as the industry adopts additional data sources.

So why is the end nigh?  Let me offer a quote from YouTube’s CEO as presented at their “newfront” and quoted by Cynopsis:

 

To make her case, CEO Susan Wojcicki rattled off a startling statistic: “YouTube now reaches more 18–49-year-olds than any network ­ broadcast or cable,” she said. “In fact, we reach more 18–49-year-olds during primetime than the top 10 TV shows combined.” Her assertion is backed up by a Nielsen study of US viewers that Google commissioned. Wojcicki also confirmed news that broke earlier in the week: Between 2016 and 2017, Magna Global,Interpublic’s ad-buying unit, has committed to spending at least $250 million on YouTube instead of TV.

It’s a truism in media that dollars follow eyeballs (eventually).  Other than live sports and breaking news, those eyeballs have been departing the BigTV guys for a while, at least in the traditional form via the traditional channels (we program, you watch when we offer a show). While the digital dollars have been increasing (and will pass TV spending this year), very few marketers admit to cutting TV for digital.  Magna has because according to them, 18- to 49-year-olds watch an average 26 hours of linear TV per week, down from 32 hours in 2009.  Dollars follow eyeballs. As Adweek reported:

Magna Global’s $250 million investment in YouTube advertising will come straight from its TV budget. The $250 million investment is four to five times Magna Global’s typical YouTube budget. As a result, the firm will spend less on traditional marketing overall this year as TV ratings dip.

So you tell me – is the end really nigh for Big TV or am I just another nut carrying a sign around?

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Alchemy

This Foodie Friday it’s all about alchemy. Back in medieval times, alchemy was seen as magic even though it’s the forerunner of modern chemistry. Way back then, the point was to convert base metals into gold or to find a universal elixir. It was a seemingly magical process of transformation, creation, or combination. To me, part of why I love to cook is that magic. It’s something that any of us can do as we transform raw ingredients into something more valuable than the ingredients themselves.

An Alchemical Laboratory, from The Story of Al...

(Photo credit: Wikipedia)

I have friends to whom making a simple sandwich taste delicious is magic. They can’t cook at all. What a shame, as Chef Ramsay would say. I believe that learning to do some simple cooking makes us more self-sufficient and the confidence which ensues carries over into other parts of our lives.  If you’re in business, it turns out you’re more of an alchemist than you think.

The obvious comparison is anyone who manufactures a product, transforming raw materials of lesser value into something else with higher value.  As an aside, we forget sometimes how many people it really takes to make anything, since we tend to forget that if we use lumber or minerals or just about anything else to create our products, many people had to create or harvest those raw materials for us.

I look at great managers as alchemists.  Anyone can put together a group of people and charge them with tasks.  It takes an alchemist to transform that group into something more, converting the base metals into gold.   It’s the same magic as what goes on in the kitchen.  Sure, the better the ingredients, the better the dish, but coaxing something special out of even average ingredients is just as magical.

So here is to all of you alchemists out there, both those in the kitchen and those in the office.  Have a magical weekend!

 

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