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It's Banks vs. Families, Who Will Come Out on Top? Q&A With Elizabeth Warren.

Elizabeth Warren

Elizabeth Warren is Main Street's woman in Washington. A professor at Harvard Law School, she's researched the travails of the consumer credit market and the hidden bankruptcy epidemic for over 25 years. Not satisfied with merely publishing academic research, she leaped at an invitation from Senator Harry Reid to take a more public role in reforming the financial system after the credit crisis: She's now the chairwoman of the Congressional Oversight Panel, the group charged with overseeing the bank bailouts.

I caught up with Elizabeth Warren at a table outside the Senate Office Building cafeteria, a few hours after she finished grilling Citibank CEO Vikram Pandit at a typically contentious hearing. With new financial reform legislation imminent--"You're talking to me in the 4th quarter of the basketball game," she said--Warren spoke frankly to Fast Company about her hopes, fears, and frustrations.

FC: You said it's the 4th quarter of the basketball game--what's the score?

EW: The economy has been pulled back from the abyss, and Secretary Paulson, Secretary Geithner, both presidential administrations and Congress deserve credit for that. They saved the life of the patient.

That said, the Treasury demonstrated that it was much better at shoveling hundreds of billions of direct grants and guarantees at the largest financial institutions than it was at protecting the real economy. The largest institutions were "too big to fail," but the foreclosure crisis and small business credit slowdown have been "too hard to solve."

FC: I was really struck by your interview last fall with Adam Davidson on NPR's Planet Money. (The shouting match drew hundreds of blog comments.) He seemed to suggest that protecting the real economy, as opposed to bailing out Wall Street, was some kind of marginal issue or a personal issue of yours. What do you think about that?

EW: I think the worldview that America begins and ends with its largest financial institutions is not only wrong-- it is dangerously wrong. Businesses are not America, and America does not exist to serve big institutions. America is about families. People who get up every day and earn their salary to pay their bills and try to make it one day to the next.

I am a bit stunned that, in the depth of the financial crisis, anyone is saying that the focus should be on the Wall Street banks.

FC: And yet it does seem sometimes that the business and economics news focuses on the fact that big banks are turning a profit again, or the stock market is back above 10,000, to the exclusion of foreclosures and unemployment and bankruptcies affecting Main Street.

EW: There's a larger point here about diversity of views. Are you familiar with The Wisdom of Crowds? The underlying insight is that a crowd must be drawn from different points of view to make good decisions. That's how it is that 1,000 people can guess with such accuracy the number of jellybeans in the glass jar. We were actually talking about this at lunch today: If all the people who are providing the input have the same worldview, then errors are built into the system. And those errors are not small. They are seismic errors.

You want the person who has a unique interest in defending the collapsing system as the person to oversee the bailout? That's astonishing!

FC: So let's leap into your role as an advocate for financial reform. The Senate's version of the financial reform bill already passed in the House and is due in the Senate any day now. Senator Dodd has been signaling potential compromises, like housing the Consumer Financial Protection Agency within the Federal Reserve instead of as an independent agency. Paul Krugman said in his column recently that unlike with health care reform, where progressives ought to grit their teeth and pass it, the time has come to actually stand up and say, this so-called financial reform isn't worth supporting. Understanding that final details aren't out yet, can you imagine a situation in which you'd say the same?

EW: Of course. There are already seven agencies in Washington that own a piece of the consumer financial protection apparatus. This is the worst of all possible worlds: a bloated, ineffective, unaccountable bureaucracy.

We need to merge those bureaucracies into a single, streamlined, accountable regulator with autonomy and teeth. If we fall short of that, we will just be recreating one more bureaucracy so that we can all congratulate ourselves that we did something for the American people when the reality is otherwise. That would be a terrible thing.

FC: What kind of assurances have you gotten from the Obama administration about their commitment to real reform?

EW: President Obama has been clear from the beginning that he supports a strong, independent consumer agency. He has put a lot of energy behind it. He has had events at the White House, has spoken about it in public town meetings, and even made the ultimate commitment--talked about it on Leno.

FC: I understand that at one point you pursued an entrepreneurial path to reform the consumer financial products market.

EW: The short version is that I studied the economics of the middle class and I began to see that credit products were becoming increasingly dangerous. Families didn't know how much they were spending on credit and comparison among the products was practically impossible because of all the incomprehensible fine print. It wasn't the products that were priced the best that survived. Instead, the ones that were most loaded with tricks and traps provided the most revenue.

So I thought at first that my academic research will be enough. I will publish a law review article and surely the world will change--that didn't happen. So I wrote a couple of popular books about it--The Two Income Trap and All Your Worth. But it still didn't change the world.

The PEW Charitable Trust then got in touch with me and asked what ideas I was working on. And I told them: I'd like to build a private, market-based solution. I want to build an Underwriter's Laboratory to certify credit cards.

The whole idea behind the current model is, "I will hold something shiny in front of your eye, 3.9% financing, and the way I'm going to make money is on tricks and traps that I've buried in the fine print: $29 there, $49 there, triple interest rate, double cycle billing, over and over and over ... ."

So the idea was to take an independent group that will say here's a clean, clear industry credit card. It was called the Clean Card. So Pew said, we love this. They took me out to San Francisco to meet with the head of a very fancy bank consulting group. We put together a proposal and many of the executives we met with just loved it.

They loved it at the first meeting and at the second meeting. It was almost as if you could see the CEOs thinking, "I'll have my picture on the cover of Business Week for transforming this market." They were saying, "We want to be part of this! We want to be the first movers, we want to be America's Credit Card." Then we come back for the 3rd meeting after the numbers guys have taken a closer look, and they say, "We can't do this." As one VP put it, if people really understood how much a credit card cost, they wouldn't use it and the bank would lose too much market share.

And one of the issuers took me aside and said, "We get that our business model is unsustainable over the long haul, but no one of us can jump first. We all have to move together. If we all move together, we'll be fine competitively, but if one of us moves and we lose market share, then the ones who issue the dirty cards will control this market." So it was literally on the plane on the way home from the meeting with the issuer that I realized how broken the market is and started thinking about a new agency in Washington.

FC: Ok, so you've concluded that the market is broken. Now you've come to DC and are working in the midst of biggest credit crisis the country's ever seen. What are you going to do if we finish out this crisis and still the market's not fixed?

EW: If America can't come out of the crisis and repair the broken consumer credit market, then this government really is broken. The lobbying over this bill is enormous, and it's all on one side. It's one thing when insurance companies are on one side and doctors on the other. This one is exclusively big Wall Street banks who have a tremendous amount of money to spend on this to protect their revenue stream.

FC: So even though you can call Vikram Pandit on the carpet and get him to answer a few questions, his lobbying staff is hard at work behind the scenes to make sure nothing changes.

EW: The money is all on one side and the votes are all on the other. So, that's what we'll find out. It's banks vs. families. And we'll see who comes out on top.

The Daily Show With Jon StewartMon - Thurs 11p / 10cElizabeth Warren www.thedailyshow.com

(03/11/10 09:00 AM)

eBay Launches Rainforest Preservation Marketing Efforts. eBay has launched two green initiatives to position itself as a conservationist in the eyes of consumers. The online marketplace has unveiled a new green shopping hub that will help consumers find... (03/11/10 09:00 AM)

Need a Plumber? Redbeacon Adds Facebook Support to Its Service Provider Finder.

Redbeacon

Redbeacon, a site that matches users up with service providers (like plumbers, painters, personal trainers, and housekeepers), announced a few new options, most notably Facebook, that'll encourage a more social use of the site--and hopefully gain some users in the process.

Redbeacon, which won the TechCrunch50 award last year, is less a reviews site than a straight utility. You type in your location and service needed, and Redbeacon finds a local provider that'll best address the job. It does snatch reviews from Yelp and Google to help you make your decision, but it's more specific than a search engine.

Even better, it retrieves an actual quote from the business it recommends: not an estimated quote, or a base quote, but an actual quote from the business, directly responding to your inquiry. Redbeacon says that in the few months since their October launch, they've been able to secure a 100% response rate for quotes, usually within hours. The service then lets you book an appointment right from the site, like OpenTable, and it's all free to the consumer (Redbeacon takes 10% off the top from the service provider).

Redbeacon's announcing a bunch of changes today. Users can now upload photos and more detailed descriptions of the service they need, which should help businesses deliver more exact quotes. But most importantly, they're now using Facebook to add a social element to the service. It only makes sense; when you're looking for an electrician, you'd typically ask a friend or relative before just calling someone in the yellow pages. Redbeacon now uses Facebook Connect to allow users to ask questions of friends and post about good experiences.

It's a bit similar to Aardvark, which we wrote about before--algorithms aren't necessarily the best way to find out what you want to know, and social networking is one way to get answers from people, rather than a search engine. Redbeacon's still expanding out from its San Francisco base, and its userbase is still pretty small, but it's a great idea--and seeing as how Redbeacon is more concerned with the service than with users visiting their Web site, we could start seeing embedded uses of the service in other platforms soon.

[Redbeacon]

(03/10/10 09:00 PM)

Today in Most Innovative Companies.

Daily news of note from our Most Innovative Companies, including Apple, Nokia, and Google.

Steve Jobs

Apple: Most of you probably caught a glimpse during the Oscars of the dozen ways you can hold an iPad, and I'm sure many of you were excited to find out that the tablet will ship April 3, with pre-orders beginning March 12--but don't worry about getting in line too early. Analysts now estimate that Apple will build 5 million iPads in the first half of 2010--enough iPads for every citizen of Ireland. Wall Street had previously estimated that the iPad would sell between 1 to 5 million units its first year, but it looks like Steve Jobs wants to test those predictions to the max. What do you think? Is Steve overdoing it here? The iPhone only sold 5 million in its first year--do you think it can outmatch that pace?

Nokia: The mobile device giant recently filed a patent for a kinetic energy-charging cell phone that uses an internal "piezoelectric energy harvester" to capture energy from a user's movements. No word on how much power this will generate, but unless you're constantly flailing the phone about, I can't imagine it will harvest too much energy.

Google: The New York Times takes an inside look at Google Translate, learning that Sergey Brin pushed to start the service after receiving a message from a South Korean user that didn't translate well. The message read, "The sliced raw fish shoes it wishes. Google green onion thing!" Brin could take no more of this gibberish, and decided to pour tons of company resources into Google Translate, mainly so he could receive more accurate praise from adoring foreign fans. As with every automated translator, the NY Times discovers after putting the engines to the test that accuracy varies between its competitors, Babel Fish and Bing--though I do particularly love Babel's butchering of One Hundred Years of Solitude's famous first line ("Many years later, in front of the firing squad, colonel Aureliano Buendía had to remember that one behind schedule remote one in which to his he took it father to know the ice." Márquez at his finest.)

(03/10/10 09:00 AM)

If the Customer Is Truly King, Then Sonoma Partners Is One Smitten Queen.

Customer Service

Any time a head of a company uses the word "upswing" in detailing his business' recent success, there is a bit of a compulsion around these parts to comment on the company. Please excuse a little cheerleading. But it is especially important to draw attention to an Upswing-ing outfit that saw its revenues swing up by ... 44% last year!

So how did Chicago-based Sonoma Partners do it? The firm works exclusively with Microsoft Microsoft Dynamics Customer Relationship Management software, thus they were in a prime position to goose their bottom line during a downturn. First they identified an opportunity in the soft belly of the bear--in this case, Sonoma Partners realized that companies needed a competitive advantage more than ever and a good place to start is by solidifying bonds with customers. If you aren't going to be able to lure new clients into your realm, you sure as hell better hold on to the ones you've got.

Sonoma does this by working with groups in the service industry, like a hotel chain or the home of the Bulls and Blackhawks, The United Center, to both customize their CRM and help them manage it. And they've amped up their customization efforts over the past year, suiting detailed data to each firm with which it works,

This prompted Principle Mike Snyder to crow dryly: "A large part of our business upswing is attributable to our customization efforts, which allow our clients to get the maximum benefit out of CRM."

Huzzah!

Snyder gives examples of such customization as everything from on-the-ground reports during election days to helping a real estate firm better manage its leases.

The company has also been somewhat lucky in that it is catching a cresting wave. As Snyder notes, Microsoft's customer relations technology is enjoy a moment. And I've written here in the past about anecdotal evidence that one check on the plus side of the recession ledger is improved customer service almost across the board. This goes back to the idea that businesses are holding tight to their existing customers. And that works out well for you, me and, clearly, Sonoma Partners.

Image: http://www.flickr.com/photos/seattlemunicipalarchives/ / CC BY 2.0

(03/10/10 09:00 AM)

Marketing across the Generations. Each generation of the US population has unique wants and needs that marketers and retailers should address differently, according to The Nielsen Company. Todd Hale, SVP, consumer and shopping... (03/09/10 09:00 PM)

Metlife Buys AIG’s Alico for $15.5 billion.

AIG will sell its American Life Insurance Company (Alico) to Metlife for $15.5 billion in cash and equity. Alico sells health, life, and other types of consumer and business insurance in more than 50 countries. Alico's sale comes one week after... Read more

(03/08/10 09:00 PM)

Eat-onomics: The Ten Most Inspiring People in Sustainable Food.

Eatonomics

Additional reporting/writing by Emilia Benton

The way America eats has to change, that's no secret. Thanks to the efforts of these ten trailblazers, that change might be closer than we think.

Dan Barber, executive chef and co-owner of Blue Hill Farm

Barber is the brains behind the "Know thy Farmer" philosophy embraced at Blue Hill Farms. He was recently honored at the USA Network's Character Approved Awards for his achievements in "green" food cultivation and preparation. A passionate advocate for regional farm networks, Barber continues to practice what he preaches at his family owned farms, as well as with the nonprofit Stone Barns Center for Food and Agriculture.

Deborah Kane, Vice President of Food and Farms at Ecotrust

Last month, Ecotrust began allowing Northwest food producers and buyers to utilize FoodHub, an online resource aimed to simplify their connections with each other and increase food trade in the Pacific Northwest. Kane continues to expound Ecotrust's mission to inspire fresh thinking that promotes social equity, economic opportunity and environmental well-being.

Mike Yohay, CEO of Cityscape Farms

Yohay's Cityscape Farms continues to work to produce great-tasting fresh food for local buyers with its hydroponic greenhouses. "Hydroponic farming is incredibly innovative and resource economical compared to conventional farming. It's well-suited for cities because you can do it anywhere," says Yohay.

Gary Hirshberg, CEO, Stonyfield Farm

In the past 26 years, Hirshberg has taken his organic yogurt company and turned it into an organic yogurt empire worth $340 million. Stonyfield Farm doesn't just deliver high-quality food to consumers, but pays farmers 60-100% more than conventional farmers, to ensure the use of sustainable farming practices. What does he ask of his customers? "When you shop, you're really voting for the kind of world you want. It is power," he says. "We should use that power for good."

Roger Doiron, founder, Kitchen Gardeners International

Doiron can proudly take credit for bringing a garden to the lawn of the White House with Eat the View, a campaign that rallied Americans' desire to see a healthier First Family. "I knew this garden had been proposed in the past, and it had its champions--Alice Waters, Michael Pollan," he says. "I wasn't a rock star like them, but thought I could play the role of a roadie, making sure the mics are on and the amps are cranked up to make sure other people's voices were heard."

Jamie Oliver, chef

The Naked Chef is on a mission to bring healthy food to every child in America. His campaign, Jamie's Food Revolution, aims to replace junk food and processed snacks with fresh and nutritious meals, in school and at home. ABC will air a six-part series tracking the campaign as Oliver heads to Huntington, West Virginia, which has been called the unhealthiest city in America. If Oliver can make Huntington healthy, he might be able to make America healthy.

Melanie Cheng, founder, FarmsReach

San Francisco-based FarmsReach pairs farmers up with buyers for sustainable local food systems, with plans to be nationwide by 2011. "If you look at statistics, farmers markets and Community Supported Agriculture are awesome, growing distribution methods, but they still make up less than 1% of food volume sold in the country," she says. "That's why we're working with the wholesale channel, for distributors and bigger institutions."

Michael Pollan, author, Food Rules

Pollan's latest book, Food Rules, offers memorable tips on making wise eating choices. Pollan, who has been described as the nation's most trusted resource for food-related issues, his new book is showing Americans that "eating doesn't have to be so complicated."

Dickson Despommier, Vertical Farms Project

The Vertical Farms Project is the brainchild of Despommier, a professor at Columbia, and his students. Envisioning a world of sustainable farms housed in urban skyscrapers, the project proposes paying traditional farmers to simply plant trees on their land, in an attempt to sequester carbon from the atmosphere. Crazy? Maybe. But it's inspiring more thought, more solutions.

Robert Kenner, director, Food Inc.

Kenner's documentary Food Inc. did its fair share of grossing viewers out by exposing the heinous slaughter practices (and eating habits) found across our country. More importantly, the film, which showcased leaders like Hirshberg, showed that it is possible to eat healthy and enjoy it.

(03/08/10 09:00 PM)

Four Steps to Affiliate Business Start Up. Choose Your Affiliate Program
Affiliate programs run the gamut of consumer products; from e-books on every subject, to help with your love life. So, take some time, do ... (03/08/10 09:01 AM)

Exports, Not Consumers, Propel U.S. Recovery. The “new mix” is out to topple the “new normal” as the paradigm for America’s economic future, economists say (03/07/10 09:00 PM)

Study: Users Don't Really Care or Know About Google's Real Time Feed.

google realtime

Much fuss has been made about Google's real time search feed, and its flashy new Twitter statuses. But a new user eye-tracking study is calling Google out, and suggests users don't care much for it. The thing is, the study's only half right.

The research comes from online marketers OneUpWeb, who recently studied the way a sample set of 44 people interacted with search pages. The group was divided in two, a "consumer" group told to search for a product they wanted to buy, and a "forager" group who were tasked with simply finding out about a project. The volunteers were then monitored as they beetled around in Google, with particular attention paid to where their eyes were looking on the page.

One of the most easily accessible conclusions are that the "consumers" averaged just nine seconds before settling on the real-time results presented in Google's feed for the first time, whereas the "foragers" took 14 seconds--demonstrating the different attention spans needed to quickly scan for relevant product info, or forage among the feed for more ephemeral data. Once they'd discovered the real-time feed, the consumer group clicked on one of its elements 10% less than the foragers. Again, this is demonstrating the two differing thought processes in action: If you're shopping for something, real-time data on it may not be the most useful thing, and instead you're more likely to look for a more static shopping or e-commerce link.

Perhaps the most surprising stat is that only 55% of the participants could "easily" find the RT feed. OneUpWeb's other result plugging into this is the "heat map" below, demonstrating where user's eyes spent most time peeping at Google's spartan Web page.

Google Realtime

It's clear from the heat map that little time is spent further down the search results, which is another reinforcement of the old above the fold/below the fold thinking. The foragers were obviously perusing the data more thoroughly, and that's evidenced in the greater amount of time they spent further down Google's page, including scanning the RT feed box. You could conclude from this that the real time feed doesn't matter too much to the sample users in the study, and a questionnaire by OneUpWeb underlines this: Some 74% of the participants hadn't heard of real time data before this study, and when they discovered it it generally left them indifferent.

Here's the thing though. Google doesn't always place the real time feed way down the page. As the image at the top (for a search on the current Pentagon shooting event) shows, Google places key Twitter feed data right in the hotspot for user attention that the eye-tracking revealed. It's also hard to ignore the feed here, as it's the only element of the search page that actually moves without any user interaction. Had OneUpWeb studied the way users access this hot-topic real time data, I'm certain their survey would've revealed a different dynamic among user's click-throughs to real time or static data.

And that's actually the most interesting conclusion from this survey--what you're looking for will probably relate extremely closely to how interested you are in a real time data feed on Google. Google could also do a better job of promoting its real time powers, apparently, since a 75% ignorance figure is pretty large even among a small sample group of 44 members of the public.

[Via PRWeb, SearchEngineLand]

To here more news like this, follow me Kit Eaton on Twitter. In real time, if you like.

(03/05/10 09:01 AM)

Fifty Years of Lasers, by the Numbers. Laser, numerology, Typography by Julie Teninbaum

Typography by Julie Teninbaum

The first U.S. patent for the laser went to Arthur Schawlow and Charles Townes 50 years ago this month. Both physicists won Nobels for the work, which -- with that of ex-colleague Gordon Gould -- has sparked decades of innovation and sci-fi fantasy. A look at the data.

Infographic: Field of Beams

Physicist Gordon Gould spent millions of dollars fighting for his right to a laser patent, including signing away 80% of potential proceeds.

Still he wound up a rich man, earning several million dollars when he finally started receiving royalties in the late 1980s.

LaserDisc players were made for the consumer market from 1978 until 2009, when Pioneer, the last manufacturer, halted production.

At 11.81 inches, the average LaserDisc was about twice the diameter of a DVD.

The 2009 SNL Digital Short "Laser Cats" featured only two real cats.

11 people have one Nobel Prizes for laser technologies.

1,566,909 laser-hair-removal procedures were performed in 2005 (an all-time high). The number has since slid to 1,280,964.

A laser message during the show at the Laser Dome in Seattle's Pacific Science Center costs $50.

Researchers at the Lawrence Livermore National Laboratory, in California, plan to use 192 giant lasers to generate nuclear power, as part of a thermonuclear-fusion project that begins this spring.

At 14,000 square feet, Laser Rock, in Bellville, Illinois, is the world's largest laser-tag arena.

Laser-related accidents have cause at least 12 deaths in the past 50 years. Nearly all the victims were scientists experimenting in the lab.

In a 2008 survey of 2,000 film fans, the light saber, of Star Wars fame, was named the most popular film weapon. The laser sword beat out Dirty Harry's .44 Magnum and Indiana Jones's bullwhip.

Last Fall, Dell introduced a color laser printer that can print up to 37 double-sided pages per minute. The company claims it's the fastest.

The first transatlantic fiber-optic cable -- which uses lasers -- entered service in 1988, running from New Jersey to England to France. The $335 million TAT-8 -- the eighth transatlantic telephone cable -- could handle 40,000 calls at once. It was retired in 2002.

(03/05/10 09:01 AM)

Fed Biege Book: Snow Slowed Economy.

The Fed recently released its latest Beige Book, a business survey that helps it decide on interest rates. Among other things, it found that snow hampered economic growth this winter. From the report: Consumer spending improved slightly in... Read more

(03/04/10 09:01 AM)

The Top 25 Greenwashed Products in America.

Despite the recession, many consumers continue to spend a little extra on environmentally-friendly products. Purchases like organic food and nontoxic household cleaners help consumers feel empowered, healthy, and guilt free. This relatively new... Read more

(03/02/10 09:00 PM)

Profiling Green Moms: What Marketers Need to Know. We are in a perfect storm brought on by the economic downturn, emerging consumer interest in sustainability, and the power of social media. And whether for reasons of cost savings or family health, women who are moms, write blogs, and self-identify as "green" have exactly the motivation and conviction marketers ... (03/02/10 09:00 AM)

Local Review Success Hits Speed Bump.

Local Review Success Hits Speed Bump

This content from: Duct Tape Marketing

ShareLocal Review Success Hits Speed BumpThis content from: Duct Tape Marketing You know I’m a supporter of the local review sites like Yelp! and City Search, but some small business owners have issues with the format. Here’s the dilemma, consumers do seem to like them because they offer an easy way to get some input on [...] (03/01/10 09:00 PM)

Four Types of Ceramic Mugs. There is a wide variety of drinkware that is offered to consumers. That is why leading suppliers of drinkware products cater to all their customers' needs providing personalized and environmentally sa... (03/01/10 09:00 AM)

Benetton Invites Consumers to Participate in AR Model Campaign. Fashion brand Benetton is looking for new models to represent its edgy fashion line and is taking its search online - an endeavor that is also doubling as an augmented reality-infused marketing... (02/26/10 09:00 PM)

Bloom Box Energy Fuel Cells For Every Home?.

If you were to go by Bloom Box founder K.R. Sridhar's words, Bloom Box fuel cells will be a mainstream consumer produce within the next 5-10 years. That's ambitious. It's a game changer. Disruptive technology. For the power grid. Today was... Read more

(02/24/10 09:00 PM)

How Credit Cards Have Changed.

In mid-2009, President Obama signed a consumer protection measure known as the Credit Card Act (or Credit Card Responsibility and Disclosure Act). The Credit Card Act's main objectives include protecting consumers from unreasonable fees and... Read more

(02/24/10 09:00 AM)

Battle of the Video Ad Formats. New research has shown that consumers are likely to watch and remember a video ad that they actually choose - as opposed to one that was forced on to them. This research, conducted by Vivaki, was... (02/23/10 09:00 PM)

Podcasts Players in Battle for Local Online Ad Dollars. Podcasts are becoming viable contenders for the much-coveted local online advertising dollar. A new survey suggests that consumer attitudes towards advertising around pod casts is favorable. Then... (02/23/10 09:00 PM)

The Placebo Effect Works on Products, Too.

Image: Chemistryland.com When consumers associate a certain effect with a product, they tend to underestimate the time it took for the product to delivered its desired effect, according to a Journal of Consumer Research study: “People... Read more

(02/22/10 09:00 AM)

Are Consumers Becoming More Suspicious of Social Networks?. The outrage over the privacy violations in Google Buzz reportedly took the company aback: tested internally at Google, the employees apparently loved it and assumed the general public would too. ... (02/18/10 09:00 PM)

Pharma, CPGs, Telecom Deliver Higher Email Marketing Metrics. Over the past year pharmaceutical companies have tweaked their email marketing campaigns to focus more on consumers, instead of physicians - and their metrics reflect that shift. So says to Epsilon's... (02/17/10 09:01 PM)

Ten Ways to Drive Consumer Action With Online Video. There's no question that online video is fast becoming a favorite of Internet users around the world. But the hit-or-miss nature of viral video, the brand quality considerations of user-generated content, and the general disdain for television commercials online have left marketers wondering, "How do I make video work for ... (01/05/10 09:00 PM)

Small Business Speaker Series at CES.

Small Business Speaker Series at CES

This content from: Duct Tape Marketing

Small Business Speaker Series at CESThis content from: Duct Tape Marketing If you are planning to attend the Consumer Electronics Show (CES ) in Las Vegas Jan 7-10 make sure you check out the American Express OPEN Booth in the South Hall. They are sponsoring a central hang out hub for small business folks to network, [...] (01/05/10 09:00 AM)

'The Open Brand': How Brands Can Thrive in a Consumer-Driven World. "The Open Brand" is a power-packed framework and guide for how brands can thrive and participate in a world where the consumer is the creator. Here's a Q&A with one of the authors. (11/24/09 09:01 PM)

Mobile Coupons: Your Message on the Move. Ask most US consumers whether they want to receive mobile-marketing messages on their cell phones, and they will usually answer with a resounding "No." Consumers worry they'll start receiving unwanted Viagra ads and messages from a prince in Kenya. Nothing could be further from the truth. (11/17/09 09:00 PM)

Why 70% of Facebook 'Fans' Don't Want Marketing, and What You Can Do About It. Most consumers who use Facebook and are a "fan" of a company or brand don't believe they have given those companies permission to market to them; many don't believe marketers are welcome in social networks at all. But here's how companies can connect with fans without turning them off. (11/10/09 09:00 PM)

Role of Retail in Sustainability. Just posted Role of Retail in Sustainability on my business blog. I'm surprised at how few retailers are stepping up to the plate and helping consumers make educated choices on sustainable products. Best Buy is a laggard, Home Depot is... (07/30/09 09:00 PM)

Don't cut CSR spending; reallocate to build your brand. As consumer expectations rise and trust in corporations decline, the need for ethical business practices is greater than ever. Yet in a recession, companies seeking to cut costs will likely postpone important CSR initiatives or cut spending in favor of... (05/10/09 09:00 PM)

What are your 2009 marketing predictions?.

Welcome (almost) to the new calendar year! I hope that the buzz of Christmas is still with you!

It's that time of year where we shift our focus (if we haven't already) to the possibilities of 2009. I'd like to kick that off by asking what your marketing predictions are for 2009? I've started a new site specifically for 2009 marketing predictions. It's at http://www.2009marketingpredictions.com.

So, put on your Nostradamus hat and let me know where you see marketing and marketers heading for 2009 and beyond!

Here are mine (all explained in greater detail here):

1. Marketers apply lessons from the 2008 Presidential campaign.
2. Marketers will measure absolutely everything.
3. Insurgent marketers will win big market share.
4. Customer data will be the most precious marketing resource.
5. Everyone becomes a marketer.
6. Marketers focus on targeting.
7. Consumers expect feedback loops; companies respond.
8. Mobile and location really begin to matter.
9. Tactics will still lead before strategy.
10. B2B Marketers will increasingly seek a 'thought leadership' based approach to marketing.

Post yours here - What are your 2009 Marketing Predictions?

(02/24/09 09:00 AM)

Does being ethical pay?. I just ran across an article in WSJ that answered the question,"How much are consumers are willing to pay for ethically produced goods?" These statistics are only among coffee drinkers (cotton t-shirt buyers had a much narrower range of price... (02/04/09 09:00 PM)

What are your 2009 marketing predictions?.

Welcome (almost) to the new calendar year! I hope that the buzz of Christmas is still with you!

So, put on your Nostradamus hat and let me know where you see marketing and marketers heading for 2009 and beyond!

Here are mine (all explained in greater detail here):

Post yours here - What are your 2009 Marketing Predictions?

(12/28/08 09:00 PM)

Insight for Ad Agencies - Listen or Go Back to Print.

This is quite possibly the most timely and exciting article I've read as of late (come to think it, this I've been rather busy and this might be the only thing I've read of late...nope, this really is the best).

Joseph Dumont penned a piece for Imedia entitled "Why Agencies are Failing" in it, he lays out several of his own observations that are founded in a report from Forrester (might be worth the $279 price tag if you're seeking some Forrester Research Therapy for your agency) and compiled from his keen insights into the agency world.

This article really hits home as it comes at a time when I'm doing a bit of work with a few agencies that I regard with the utmost respect and I can't help but see some of their challenges echoed in this article. Those are the agencies that are truly students of advertising, marketing, customer behavior and have a genuine purpose in this world. They will succeed because they can learn, they can grow and like energy (you know, never at rest) they are always moving and changing and they're on the right path.

On the other end of the spectrum are agencies who are truly stuck. They're afraid of stepping outside of their comfort zone, afraid to admit that they need help, don't have a mastermind group internally that's challenging their age-old positioning and their clients are suffering as a result by way of crusty old strategies, reheated ideas and basically an ignorance of the end customer that we're all trying to reach. Those agencies will fail a they aren't even on a path - they're standing still.

Here are a few observations that I took from Joseph's article. I really recommend read though it with you highlighter handy - there are some real nuggets in there. If you're an agency, take this to your next staff meeting and discuss it. It's that important. If you like, buy the Forrester report (and tell me if it was worth it!)

1. Damnit, get out there and do the hard work to really understand how your client's consumer has changed their habits, where they hang out and what they want to hear from you. Media kits are for armchair advertisers. You need to get out there, listen, react and move. Oh, and get your client's leadership and front line folks on the same page too. Customers are smart. They see through the disorganization.

2. Watch political marketing. I've said this for years and I'll say it again "the harbingers of the next generation of marketing are working in politics". Watch all 3 candidates and how they leverage the digital space. Also, pay attention to their budgets. They're moving mountains and spending very little (comparatively) online...they reach the masses on TV and the influencers through digital (online) means...it's a great country we live in!

3. Interactive does NOT mean Internet. It means really in-ter-acting... get people involved, acting and interacting and engaging. Most of what's called "interactive" is anything but.

4. User generated content is not the holy grail. User generated genuine interest in a brand that excites consumers and pushes their 'loyalty button' is what we're really seeking. There are many UGC campaigns that are bolt on piles of crap... If UGC is not aligned with your brand and the only respondents are professional contestants, you should rethink things a bit. Just because it's cool doesn't mean it's you (or that an agency should sell it to you)

5. I actually think that we're in pretty good shape - there is BRILLIANT marketing going on out there (just read iMedia, Marketing Sherpa and others to see the kick ass campaigns and strategies that are rocking the marketing world)...but there's always room to do better. Both agencies and internal marketers can't afford to get lazy. The entire profession of marketing is founded on a "faith in the future" perspective! That's why we market - for the future...so hurry up and let's all get there!

(06/09/08 09:00 AM)

Insight for Ad Agencies - Listen or Go Back to Print.

3. Interactive does NOT mean Internet. It means really in-ter-acting... get people involved, acting and interacting and engaging. Most of what's called "interactive" is anything but.

(05/29/08 09:00 PM)

How to LIVE RICH. A good friend and ex-Dell colleague passed away on Friday, April 25, 2008, after a courageous and inspiring battle with brain cancer. I want to celebrate and share the piece of his life I knew, and the words of wisdom he left for all of us. Two months after I joined Dell in March 1999, a curly-haired Harvard grad moved into the cube next door. Over the next seven years Rich and I worked together to help build Dell’s consumer eBusiness to a $3.5B business, and then on Dell’s CRM and segmentation strategy (he worked on corporate strategy while I worked in Consumer division). But what he worked on is not as important as HOW he accomplished his goals. Rich exemplified leadership. In fact, he had the rare quality of being a Level 5 Leader, as outlined by Jim Collins’ book, Good to Great. He excelled through confident humility amidst a (typical) corporate environment of politics, ego and alpha aggression. He always put decision in terms of what was right for the business, and helped others grow in the process. Everyone loved to work with Rich or for him. So many of us were awestruck at Rich’s knowledge and wisdom. Rich often put up ‘observations’ on his small whiteboard in his cube. One time he made the observation that time and quality of mission statement are inversely related – graphed on the board, the more time spent on the mission statement the less it resonates. So true. And so funny.... (04/29/08 09:01 PM)

Social Shopping and Getting Your Share of the $600 Stimulus Check.

Personally, I'm a huge fan of social shopping sites. Several times per year our family, just like everyone else, is tasked with purchasing various gifts for relatives, Christmas, birthdays and other such moments. Like most guys out there, I rarely, if ever know what to buy!

Enter social shopping sites. According to a recent AP article on MSNBC "Web surfers buying into social shopping sites":

Social shopping sites with such names as Kaboodle, ThisNext, Wishpot and StyleHive combine two of the Web's most prominent activities: engaging in commerce and chatting with like-minded folks. The sites don't directly sell things, but encourage users to share links to good bargains, obscure finds, products that work and ones that don't.

All of those sites are pretty sweet, if you ask me. While not a 'social shopping' site per se, I'm partial to using Gifts.com as well. I've gotten some solid ideas from there as well.

With Valentine's Day just around the corner (hmm...what should I get this year???), now is a great time to test out all of the social shopping engines to see what kind of goodies they recommend.

Personally, Kaboodle and Gifts.com had the most ideas for gifts I'd likely purchase. However, the others had some good ideas as well. Wishpot is actually powered by results from Shopping.com.

Now, how does all of this have anything to do with the likely "stimulus package" that we're about to receive? (If you've not tuned in to the $150B economic stim pack banter, here's a square assessment from the WSJ[sub]). Well, if you believe that Americans will follow a similar behavior pattern following tax refund time (Tax-refund season helps kick off the spring shopping season. Last year, retail sales jumped 12% to 20% in March), there's going to be a portion of us, 12% to 28% of us, depending on who you ask, who will go out and immediately spend the money, it's a marketer's world and the smartest marketer will win when seeking their fair share of the potential 'windfall' check that consumers are likely to receive this late spring to early summer. Here's where really knowing your customers and their behavior can pay off. A few ideas:

Go back to your customer or buyer profile and figure out who in your customer base will be getting the lion's share of the stimulus monies. For reference, families with <$110K in earnings and individuals with <$75K will be getting the most, while the lowest income and highest income segments of the population will be getting the least. Needless to say, this won't be the time to go after your high rollers who just got a check for $200...
Run a contest or a survey or something to get inside the heads of your customers. If you're doing a regular email newsletter, throw in a survey question or two that takes a fun approach at getting after "what they're going to do with their checks". Segment out those that intend to 'spend it' for a separate marketing effort around the time that checks are distributed.
Be mindful of all of the recession talk. People might not splurge on that big gas grill they've been lusting over, but they might be interested in securing a raft of gift cards or gift certificates to kick off their Christmas or birthday shopping. Now would be a great time to mention that yours have no expiration date and that they're a great way to stretch their dollars for themselves and their loved ones

Whether or not you agree with the efficacy of the stimulus package, if you look at this from the perspective of 'customer behavior' and tap into the most 'likely to buy' segment of your customer base, you're setting yourself up to capture your fair share of the $150B that's likely to be doled out.

(04/04/08 09:00 PM)

Mystery Solved!.

The other day, I wrote about some of the top websites that refer people to my site. One of those sites is the US House of Representatives, which has been sending people to my Guestbook page for quite some time. Well, yesterday I decided to try to find out where on the House site the link to my own site is listed.

It took me only a few seconds to find it using Google. I searched for "US House of Representatives government grants" and the first site listed on the search results was this one: Federal Funds Express - a site I'd never seen before. But apparently a lot of other people have.

Federal Funds Express may be a good place to start looking for government grants and other sources of funds, but it's not really an in-depth resource. However, there are some good links on the site (including mine, of course), which in turn can lead to other good resources. Links are listed under the following categories:

How to get and manage grants
Federal charitable and corporate sources of grants
Resources to help small businesses
State and local government funding, data resources and disaster assistance
Educational resources for students, schools and colleges
Property, surplus, donated and unclaimed
Family issues: health, housing and consumer protection

The website hasn't been updated since October 2007, but you may still find some good sources of information there. I checked a few of the links, but didn't have time to check them all.

I'm thinking about sending an e-mail to the Webmaster asking him or her to direct people to a page on my site other than my guestbook. But maybe it would be best to leave it as is.

(03/20/08 09:01 AM)

Future of Online Retailing -- Four Predictions. Forrester and Jupiter report that more than 70% of online shoppers seek out user reviews before making a purchase decision. MarketingSherpa reports that 84% of consumers prefer the opinion of other consumers vs. experts. Hundreds of retailers including WalMart, Best Buy, HP, and the Home Depot have followed Amazon’s lead by allowing their consumers to review products in the online channel. Consumers demand social commerce solutions and retailers are driving measurable results. As consumers are presented with increasing choices, channels, and messages, they will continue to turn to peers to discover, research, and make decisions about products and services. Retailers will need to utilize technology and best practices to provide authentic, relevant, and effective social commerce solutions to retain their customers into the future. 1) SOCIAL CONTENT IS GOING MULTI-CHANNEL The future of reviews and social content is going beyond the product page and into other channels such as mobile phones, kiosks, print collateral, online advertising, and social networks. It is clear that consumers rely on social content to make purchasing decision. They will expect to be able to access to this content regardless of channel in order to inform their purchasing process. The retailers that provide this multi-channel access will develop competitive advantages in their markets to attract and retain consumers. Additionally, more retailers will see the value of integrating social commerce with CRM and other “back-end” channels. Retailers will start to leverage social content as a key input into driving decisions in marketing, sales, advertising, customer support, and... (12/09/07 09:01 PM)

Be Masters of Reality. At last week's Forrester Consumer Forum, Richard Edelman suggested today's PR has to be 'masters of reality' rather than focus on spin and hype. This was underscored by his tagline, "Be it. Don't Buy it." I think that's a great mission for marketers in general. In a world of higher transparency the best products and companies will succeed. The true reflection of their quality and character will be amplified. As masters of reality we will realize that products need to be great, word of mouth follows, and marketers (as masters of reality) will leverage the truth. (10/14/07 09:00 PM)

10 Rules to Live By (Deborah Schultz). I was at the Forrrester Consumer Forum last week. The topic of the conference was social technologies. At a place like that you meet people that have blogs. I try to check out blogs of people I meet, I scan them, and see if something pops out. I met Deborah Schultz, a consultant in the Social Media / Interactive Design, and this post popped out to me where she outlined 10 things she tries to live by. In a busy, transparent world these rules are relevant for a consultant or corporation...they are salient for management and marketing...and some are useful to remember when living your life! Do not ignore your customers, it WILL come back to haunt you Constant iteration is NECESSARY - build in flexibility so you can respond quickly Don't LIE - you can't HIDE the truth anymore Build LISTENING into your DNA (Put it in customer service, marketing, product management - just PUT IT SOMEWHERE) Learn to BALANCE the listening with PERSPECTIVE so you are not constantly in REACTIVE mode. DESIGN matters - Make it EASY (iPhone anyone?) Be CLEAR & CONCISE - who has time for long winded-ness Be EMOTIONAL - tell a story [read this to learn the basics] Be HUMAN - talk like one, act like one. Sounds like a big DUH but it is amazing how easy it is to get lost in complexities when we forget this one. Take a BREAK - and step back to think BIG thoughts Great stuff Deborah! (10/13/07 09:00 PM)

Yahoo Buys Zimbra for $350 Million. Yahoo has agreed to buy Zimbra, a startup that offers Web-based corporate e-mail (and a Next Net 25 company from 2006). The price is a hefty $350 million—one of the largest for a Web 2.0 startup to date. Yahoo is right to build up its portfolio of Web-based apps, but Zimbra is an enterprise app. Yahoo (YHOO) is a consumer company. So this could end up being a stretch for them (or its entry into a whole new market). Update: A senior Yahoo executive just told me that the acquisition was more for Zimbra's technology than an attempt to create a wedge into the nascent enterprise Webtop market. That makes more sense. So expect to see some of Zimbra's gee-whiz Webtop features appear in Yahoo's consumer e-mail, contact, and calendering apps down the road. (See my earlier coverage fo Zimbra here, here,and here) (09/17/07 09:00 PM)

VCs Keep Throwing Money at Web 2.0 Startups. Dreams... Originally uploaded by noahwesley The numbers are out for how much money venture capitalists poured into Web 2.0 startups like Facebook, Zillow, and Netvibes during the first half of this year. Worldwide, counts Dow Jones VentureOne, VCs put $464 million into 101 deals. That’s up from 89 deals worth $432 million during the first half of 2006. (See the full-year 2006 figures here). Most of this increase comes from Europe, where early-stage investors are getting the Web 2.0 bug. Two thirds of those 101 deals were in the U.S., maintaining a steady pace with the activity during the same period last year. But the $357 million raised in U.S. venture deals represents a mere 1.6 percent up-tick from last year. And while Web 2.0 deals made up 30 percent of all “information services” deals, that’s actually down from 41 percent last year. With all the low-hanging fruit already well picked over in the U.S., VCs here are migrating to later-stage financings and funding startups focused on the enterprise, whereas consumer-oriented deals still dominate overseas. Sequoia Capital and Draper Fischer Jurvetson lead the charge in Web 2.0 financings, with six and five deals, respectively, But, for the first time, New England beat out the Bay Area in terms of money raised for Web 2.0 companies ($102 million vs. $90 million). Soon, it is going to stop making sense to count Web 2.0 deals separately from any other Internet deals. At this point, any Internet company worth its salt can claim... (09/17/07 09:00 AM)

Startup Watch: Fellowforce.com (the Business Smarts of Strangers). The best ideas for new products and businesses often come from outside a company's walls. Now, those companies have a Website called Fellowforce.com to help them try to tap into the business smarts of strangers. On August 1, the Amsterdam-based startup launched its consumer-facing site where people can sign up as fellows and answer challenges posed by companies large and small. There are only about 20 challenges so far. Some have been posted directly to the site itself, like one startup's plea for a blockbuster TV-format for a new website. While others are links to existing crowdsourcing efforts elswhere on the Web, such as Nokia's invitation to consumers to help design an N76 phone, or the Motion Pictures Laboratories quest to develop a theatrical projection screen that can handle both 2-D and 3-D movies. Like InnoCentive or NineSigma, what Fellowforce fosters is a form of open-source innovation. People who submit the best ideas can get paid by the companies anywhere from $250 to $10,000. Fellowforce itself is offering 1 percent of its stock to the person who comes up with the best tag line for the site. (How about: Where it pays to have good ideas). Fellows can submit unsolicited brainstorms to specific companies as well, such as one member who came up with a novel type of door hinge. Fellowforce charges companies $295 to $1,000 to post a challenge. The site is free for Fellows. And in a few days, the company plans to release an Innovation Box—essentially a... (08/09/07 09:00 AM)

It's Time For Open-Source Hardware. Open-source software has proven that users are sometimes the best designers with products like the Linux operating system and the Firefox browser. The next logical step is open-source hardware, a movement that is gaining ground in design circles. For instance, Chuck Messer at Tackle Design in Durham, North Carolina has developed an open-source jaundice light for developing countries using blue LEDs that can be manufactured for $75 (versus $3,000 to $5,000 for a similar piece of hospital equipment). And he is also involved with the Open Prosthetics Project, which is trying to bring back an updated version of the popular World War One-era Trautman Hook. Similarly, there are efforts to create open-source computers, cars, telephones, and 3-D printers. There is even a venture-backed company called Bug Labs trying to apply the concept to the commercial realm with what sounds liek open-source consumer electronics. As Fred Wilson, an investor in Bug Labs, cryptically puts it:The thing about Bug is that it's not anything like the iPhone. It's closer to Ning. It's all about what people will make with a Bug, not what a Bug is when it comes out of the box. The buzz around open-source hardware is just going to keep getting louder because it is an idea whose time has come. Bringing the culture of participation to physical products is a natural evolution of the open-source, DIY world we are now living in. What open-source hardware/products would make the most sense to build a business around? Comments are open.... (07/31/07 09:01 PM)

Spectrum Auction to Be Run By Google Rules. From inside a rainbow... Originally uploaded by jerikojosh It appears that the FCC is going to adopt open-access rules backed by Google and other tech companies in its upcoming spectrum auctions. This is not good news for incumbent wireless carriers. What Google (GOOG) wants is for the resulting 4G networks built on top of the auctioned spectrum to be more like the Internet, so that you can plug in any device or run any application on it no matter who happens to be billing you for your wireless broadband access. Google's principles going into this are: * Open applications: consumers should be able to download and utilize any software applications, content, or services they desire;* Open devices: consumers should be able to utilize a handheld communications device with whatever wireless network they prefer;* Open services: third parties (resellers) should be able to acquire wireless services from a 700 MHz licensee on a wholesale basis, based on reasonably nondiscriminatory commercial terms; and* Open networks: third parties (like internet service providers) should be able to interconnect at a technically feasible point in a 700 MHz licensee's wireless network. It might not get everything it asked for, but even one or two concessions would make it much more likely that Google will decide itself to bid for some of the spectrum. If such rules were in effect today, you would be able to buy an iPhone and not be locked into ATT's network. It's nice to see Internet rules finally winning the day... (07/10/07 09:01 PM)

Disruptors Video: Turning Bits Into Atoms (Desktop Factory). This week's New Disruptors video is up. I visited Desktop Factory, an Idealab startup in LA, and interviewed CEO Cathy Lewis as well as Idealab CEO Bill Gross. Most people probably remember Idealab from the 40-some Internet startups it launched in the late 1990s. Those included some duds like eToys. But also some major home runs like CitySearch and GoTo.com (which pioneered the concept of paid-search advertising, became Overture, and was eventually bought by Yahoo). I was surprised to learn that Idealab has a lot of atoms businesses these days (as opposed to bits businesses), including Desktop Factory. Desktop Factory is developing a 3-D printer for the masses. It literally prints out three-dimensional objects made from a gray plastic powder. Most rapid-prototyping machines cost $50,000 and up. When Desktop starts selling its machines later this year, they will cost $5,000. And they eventually want to get them down to $1,000. Not only will more businesses be able to use 3-D printers to iterate their designs faster, but consumers will be able to afford them too. I'm sure this will be a niche business at first, but I can also imagine all of those Second Lifers printing out their avatars and all the virtual clothing, buildings, and vehicles that they already design online. Gross and Lewis want to encourage users to share or sell 3-D CAD designs online, so that people can find objects online to download and print as well. Watch the video. (Full transcript after the break):... (07/06/07 09:00 PM)

Microsoft Plays With P2P TV. Video: LiveStation Demo Microsoft Research (MSFT) and a UK-based company called Skinkers are developing peer-to-peer software called LiveStation for streaming live television over PCs. Think of it as a Slingbox Without the Box. (See demo video above). Except that TV stations would have to sign up to stream their broadcasts over the service. Using P2P networks is the most bandwidth efficient (and least costly) way to deliver video over the Internet. Joost, Babelgum, and Veoh also all use P2P distribution techniques in one form or another. But they all deliver videos that are already stored somewhere (their servers or the computers of their members), as opposed to live streams. I'm not sure how difficult it would be for any of these services to offer live streams as well. It doesn't seem like that big a deal. Joost, for instance, is working on (or already has) the ability to synchronize the streaming of a particular show so that you and all of your friends can watch it at the same time while chatting over Joost. Making that a live stream should be easy enough. The bigger question is: On the Internet, does live TV even matter any more? The TV schedule is a product of the historical limitations of broadcast television, where you have to broadcast the same shows to everyone at the same time. But those limitations are falling away. Even in cable and satellite TV, the growth of pay-per-view and on-demand channels proves that if you give consumers more... (07/06/07 09:01 AM)

Product loyalty: consumers mistake familiarity with superiority. http://arstechnica.com/news.ars/post/20070605-product-loyalty-consumers-mistake-familiarity-with-superiority.html (06/07/07 09:01 AM)

Succinct Positioning. Five words or less. Use consumer language, not clientese. Follow the 4D rule. These are a few of my guidelines for writing positioning statements that are compelling and executable. Five words or less. See if you can write your own... (04/23/07 09:01 AM)

Free download of ONE chapter. Author Stefan Engeseth today made the first chapter of his upcoming book ONE (about consumer power) available for download. It's well worth a read -- Stefan mixes high and low, deep and shallow. He's the kind of writer that makes you think, whether you agree or not. (04/06/07 09:01 AM)

3 Emotions to Drive Execs to Action. Yesterday I was on a panel for a Forrester bootcamp on Social Media. One of the common questions was how to convince senior management to agree to and resource these new emerging channels and marketing strategies. What moves consumers to action? Emotion. It’s not much different than with executives and managers…you just use data to create those emotions! In my experience, there are three emotions I’ve seen drive executive action: Fear – show the competition is having success with a strategy that you are not. I’m putting this first because fear is the biggest motivator in the human psyche. And the first reaction for executives when they see a competitor doing something successful is to react. I’m not suggesting this is always right, but it’s reality. It’s a call to action event. If a competitor is launching an emerging channel strategy, your executives have to decide to do something or nothing. Use this time to drive a recommended strategy. Excitement – show and prove the revenue impact from such a strategy. Changne resistance is typically due to prioritization and predictability. Corporations, and management in them, have a need to drive predictable growth and mitigate risk. Priorities are driven based on familiarity of strategies that drive confident results. Something that can be proved to drive better results and meet or beat forecast excites executives. Pride – most forward-thinking executives want to be first to market, forward thinking, innovative and cutting edge. Some want this because it is right for the company,... (03/22/07 09:01 AM)

Career Tip #12: Take Bigger Risks. If change is not happening in your organization, it’s 99% probable that the company is on the decline. And if you’re the only one who knows this, start preparing your resignation letter now. Executives who land a high level position, play it safe, and clutch onto high salaries, need to be flushed out of corporate America. They have the triple impact of holding back innovation, sucking profits from bonuses, and demotivating great people who eventually leave. And, by definition, these executives reach a plateau. Whether you’re an executive or not, I suggest you take bigger risks to move your career forward (and for fun). Make big plays. Take initiative for change at a strategic level. Bigger risks help your career because you stand out, differentiate, and accomplish great things. Whether you’re an individual contributor or manager, anyone who takes initiatives and risks can become a leader. They are the ones who are break through the next level. Their reputation is lasting and their contributions are recognized and rewarded over the long haul. Plus, the accomplishments create great soundbytes! At Dell I led a small ‘big change’ team. We were responsible for Dell’s consumer CRM strategy, customer centricity, retail competitive strategy, Hispanic marketing, customer segmentation, and other large projects. All of these initiatives were not part of day to day operations. They had to be invented, sold, implemented and finessed into company operations over time. The challenge for each of team member, from a career perspective, was to get the perspective... (01/17/07 09:00 PM)

Career Tip #10: Go Where There's Margin Growth. The tabloid paparazzi attacks a story they know will sell magazines. Hence you see five tabloid covers at the supermarket all covering Brad and Jennifer’s break up, for example. Similarly, executives swarm around areas of the company that margin dollars. They will focus there, invest there, and grow that area as quickly as they can. And it is there where you can also find career growth. In any company with multiple product lines or divisions there are some parts of the company that have high margin % and/or high revenue growth (preferably both), and some that don’t. For Dell, for example, there’s high margin and high growth in servers, storage, and service. You find lower margin % and lower growth (yet an unfortunate large % of Dell’s revenue) in workstations, desktops, and consumer laptops. Which divisions do you think will hire more people and the best people? Managers in those high margin divisions are growing their career and learning things other companies want. Are you in a position to help your company grow a high margin category? Can you learn a new skill that helps grow a high-margin category? Remember, the ideal situation is high margin % and high revenue growth. If management is smart, they are trying to grow margin dollars (a.k.a. profits). If only 5% of your revenue has high margin % and is growing slower you’re your overall business that’s not the greatest place to be. But if a high margin % part of your company is... (01/17/07 09:00 AM)

Career Tip #7: Connect to a Visible Brand. Sometimes it's helpful to have something recognizable on your resume. My first interview with Dell in early ‘99 was for managing Dell’s Small Business site. I was a finalist with someone who had no online experience. But, she had worked at Coca Cola and Deloitte. So, the small business division ended up choosing her. Fortunately, they liked me enough to refer me to the Consumer division for a peer position. I was hired and enjoyed a prosperous career at Dell. What happened to her? Well, long story short, she didn’t receive her two year appreciation certificate. Did you go to a well-known school, work for a well known company, work on a visible project, or work for a well-respected person? If so, you have an advantage. This is a tip that goes under the “do as I say, not as I do” category. Prior to Dell I helped launch and grow three startups you probably n ever heard of (User Group Connection, ThirdAge.com, Telepost). I appreciate what I learned from these companies, but the names didn’t help open doors. I’ve seen less talented people get through the door because of the brands listed on their resume. As unfortunate as that is, it’s an obvious advantage considered for a job or promotion.... (01/15/07 09:00 AM)

Whale Season. The web hates channel conflict. Actually, it's consumers who hate it. Channel conflict is what happens when a producer doesn't want to favor one retailer over another, or gets stuck because the terms at the effective retail channel conflict with... (12/12/06 08:47 AM)

[Experience Manifesto] MOVIE PLACEMENT CREATES DEMAND FOR NONEXISTENT SHOE. http://blog.brandexperiencelab.org/experience_manifesto/2005/02/movie_placement.html The unpaid inclusion of a nonexistent Adidas shoe in the movie The Life Aquatic has sparked a brisk consumer demand for the product. more...... (12/12/06 08:04 AM)

Search marketing works for B2B, too.. Thanks to a reader, I learned that there was a 'B2B Case Study' session at the recent Search Engine Strategies conference in San Francisco. The article reviewing the session, titled, Search marketing works for B2B, too, starts with this gem:

"Most people assume search marketing works only to reach consumers, but it's actually quite effective for businesses wishing to connect with other businesses, as well."

Um, I'd counter that SEM is more effective for B2B, but I think this comment just shows the lack of knowledge of the author--obviously B2B is off the charts for some folks. The article throws up comments about basic SEM for B2B but this bit is probably of interest B2Blog readers:

"Rick Brown, President of NetTrack closed out the session with a discussion of the effectiveness of paid inclusion in vertical aggregator sites like ThomasNet, GlobalSpec and Industrial Quick Search. Brown articulated his endorsement of such aggregators cautiously, saying that they can bring in relevant traffic as well as provide valuable links to a company's homepage but that many of the metrics such websites use to promote their services (such as "reach," "page views," and "brand activity") don't have much impact on a client's bottom line.

He also noted that the value of the links from content aggregators is highest when the landing page can be controlled and there is a one to one relationship between the product category being searched and the landing page on a firm's website. Brown suggested than firms who invest in paid inclusion on a vertical aggregator site have their own analytics like ClickTracks to determine the value of the traffic coming in from sites like Industrial Quick Search. "

Um, get an analytics program? Duh. What most B2B folks don't do is actually look at the data and ponder its meaning.

One thing that Rick Brown said that is innovative, is that he proposes a 1-to-1 relationship between the seller's landing page and the product categories on the directories. I've opined before that part of the problem with directories is that once the user clicks-thru, they have to start their search over again.

BTW: A rather interesting post by Marketing Headhunter Harry Joiner about a SEO specialist looking for a new job. Key fact: $125-150K pay for specialists at SEO agencies. Wow! (08/28/06 09:03 PM)

Secret product differentiation in a public world. Michael points us to: BBC NEWS | Business | 'Product sabotage' helps consumers. I don't buy the sabatoge part, not at all, but it's interesting to see how the BBC outed Starbucks on one of their secret menu items. (thanks,... (08/25/06 09:03 PM)

Looking at How Feature Articles Can Boost Public Relations. Placing feature articles with appropriate trade, consumer, or business publications is a powerful and effective PR technique. Unlike a news article, which gives a straightforward report of recent ev ...

(08/24/06 09:00 PM)

The Riddler. John Sawatsky of ESPN knows how to ask questions, and he thinks you don't. You need to ask questions every time you interact with a consumer, a job applicant, a co-worker with a great idea or even someone sitting next... (08/14/06 09:03 PM)

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