BrandKnew - Suresh Dinakaran's Blog

A ROM COM Called ” Meritocracy “

Merit might seem like a ROM COM, but there is merit in talking about it I guess.

Meritocracy is our social ideal, particularly among good liberals. Equality of opportunity, but not of outcome.

To this day, the origin of the term meritocracy is widely attributed to the British sociologist Michael Young, who used it pejoratively in his book “The Rise of the Meritocracy “. For Young, merit is defined as intelligence plus effort.

The triumph of meritocracy as a social ideal was a turning point in human history. Before the Enlightenment, most societies were elaborately stratified- be it England‘s hierarchy of king, duke, earl, viscount, and baron, or China‘s imperial order of Emperor, heshuo qinwang, duoluo junwang, duoluo beile, and gushan beizi. In these regimes, the vast majority of people- peasants, servants, slaves – had little hope of bettering their station.

Many philosophers like John Locke, Charles Montesquieu and Jean Jacques Rousseau in fact questioned the idea of an unelected elite. On the eve of the American Revolution, Thomas Paine boldly proclaimed that ” of more worth is one honest man to society and in the sight of God than all the crowned ruffians that ever lived“. In Paine’s view, power was the gift of the people rather than the divine right of the monarch.

Meritocracy raises the returns on talent by ensuring that individuals are free to contribute and succeed, whatever their social rank or personal connections. That said, its troubling that bureaucracy – the world’s most ubiquitous social structure– systematically undermines the cause of meritocracy. A recent survey in the Harvard Business Review had 76% of big company respondents saying that political behaviors highly influence who gets ahead in the organisation. Though in theory bureaucracy is a ranking of merit where those with exceptional abilities get promoted over those are less accomplished. But, in practice, organisations rarely come even remotely close to achieving this idea.

It is said that it is more honorable to be raised to a throne than to be born to one. Fortune bestows the one, merit obtains the other.

“That is the great danger of meritocracy: the people who reach the top of the system are precisely the people who have most completely identified with the system and its demands, creating a vicious circle preventing any actual change. It is no accident that conservatives tend to employ the rhetoric of social mobility so readily, as social climbers generally do not ask questions about the ladder.”

— Adam Kotsko

As I conclude, may I direct you to read this article in BrandKnew where Bridgewater Investments Founder Ray Dalio talks about Investing in Idea Meritocracy

ENDS

Go Luck Yourself!

In short, Luck’s always to blame..

It’s good to be cognisant of this saying about luck..

” You never know what worse luck your bad luck has saved you from. You know, Hobbes, some days even my lucky rocket ship underpants don’t help. Remember that sometimes not getting what you want is a wonderful stroke of luck “.

Nothing is a mistake. There is no win or no fail. Everything is MAKE. Betting on lucky isn’t nearly as productive as simply establishing a platform where you can benefit from the occasional arrival of good fortune.

Life is full of luck, like getting dealt a good hand, or simply by being in the right place at the right time. Some people get luck handed to them, a second chance, a save.

Luck might not be a strategy, but setting yourself up to be lucky might be. The luck as tactic can be a workable tool if you are bringing in your deep work, resilience, showing up and shipping out and be on a perennial path of exploration and discovery. If you maintain that consistency, chances are high that you would get lucky more often than not. But that is very different from the default mindset that there is a correlation between past behaviour and lucky outcomes.

If you show up with good work and generous action, again and again, sooner or later something that appears to others to be luck will appear. So, go for it!

I urge you to read this article on Relentless Optimism in BrandKnew

ENDS

Can You Pull Off Modesty as a Social Strategy?

‘Modesty’

Modesty is showing restraint in the appreciation of oneself and of one’s qualities.

In literature, modesty is unpretentiousness in the expression of feelings.

Modesty is the color of virtue.

There are several explanations going around but the above is a reasonable summa summarum of what modesty is. We get the message.

Impressions matter in life. Whether it’s a client meeting, an office get together, a first date, a job interview, how others perceive us, can define or destroy our goals. That being said, in a team setting where cooperation and collaboration is the rote, display of luxury items be it watches, bags, shoes, cars or any such could actually be a party pooper. Especially if they are done with the intent to enhance and communicate social status.

Recent research published in the Journal of Personality and Social Psychology ( Deborah Small | Alixandra Barasch | Shalena Srna) says that when an individual uses luxury goods, the person is perceived as someone out to boost his|her own social value and hence selfish and a poor team player. As a result, they are less likely to inspire cooperation or be chosen by others for their teams. By contrast, in competitive situations, the same ostentatious person is often favored over more modest rivals.

Yes, The Devil indeed wears Prada. ‘ Conspicuous consumption ‘ was a term coined by Sociologist Thorstein Veblen in 1899 to describe people acquiring luxury goods and services not just for their superior quality but also as a visible sign of their wealth and status.

Status is a potent weapon for determining and influencing consumer behavior and the pursuit of status is highly valued in cultures that are characterized by hierarchy and tradition. This is the consumer insight that is leveraged by brands like Louis Vuitton or Burberry and the insignia display of LV or the Plaid is used unabashedly. Ostentatious consumers tend to be seen as more arrogant, less warm, and even less moral. The Devil Wears Prada is fictional but the association between luxury spenders and emotional frostiness is very real.

Context has a big role to play here. Name dropping, fancy clothes etc would be helpful in winning negotiations but where teamwork and cooperation is the call of the hour, modesty is a better approach.

The same Sociologist Veblen also coined the term ” conspicuous compassion “. Status signalling is not just about overtly displaying wealth or career success. It can come in the form of green credentials, altruism, being a rebel or a contrarian, or being cool, depending on which circle you are seen in and want to influence.

Being sincerely modest is not easy, because there is a great temptation to fall into falsehood. The playwright Prosper Jolyot de Crais-Billon (1707-1777) said: “Of all the virtues, the one which, in the world, always seemed to me to succeed least to the one who practices it, is modesty.” While the poet Pierre Reverdy (1889-1960) added: “The best thing about modesty is the intelligence that must be deployed to stick to it“.

There is a very close link between modesty and humility, but the line is a fine one. It would be tempting to see modesty only as a social convention, while humility would be truth in itself.

So, if status signaling is the intent, pay attention to context. Modesty Blaise anyone?

Tempted to offer a link here to an old article from BrandKnew on “ The Braggart’s Dilemma: How to Promote Yourself Without Being a Jerk “.

ENDS

Is Advertising is really bad at being kind?

Walking a tightrope. On delicate ice.

Purposeful provocation is the idea. A warm cozy hug or a splash of cold water on your face. A salve or a wake up call. Both are responsibilities.

Responsibility in advertising requires that all stakeholders honor their obligations to one another. Advertising over the years has evolved beyond just focusing on grabbing consumer’s attention by catchy jingles, videos and packaging to a more refined medium with a certain sort of narrative. And while it’s still criticized for a lot of the ills that comprise the more negative aspects of modern consumerism, there is little doubt about its ability to deliver complex, far-reaching messages and forming an instant connect with the psyche.

An interesting look at advertising and the humanistic approach can be had from this article in BrandKnew

ADVerbatim: Some micro and macro outlooks

The caption of this article is a bit of soft pedaling. I am quite uncomfortable with the word ‘ trends ‘ because it is in more ways than one camouflaging what is called ‘ herd mentality ‘ which leads to the inevitable SOS(Sea of Sameness). And in an increasingly commoditized world, you may be birds of the same feather, but..flocking together ??

Amidst the tempest of pandemic driven uncertainty and disorientation, here’s a crystal ball gaze at some obvious and not so obvious landscapes that the advertising industry could be witness to in the coming months.

– The biggest boycott in history to continue- I am referring to ad blocking– with over 600 million devices in its universe and growing, the wake up alarm has long been sounded for brands, agencies and advertisers. According to Hootsuite, the UAE has close to 40% of ad blocking( countries like Indonesia, India are at over 50%). Research states that one of the primary reasons for ad blocking is too many ads that are irrelevant, annoying and have nothing to do with creativity. Creativity is future proof and the sooner brand guardians get re-sensitized to that, in a pull and engage scenario(as against the widely practiced push and control), the better.

– Unless something dramatic happens, online programmatic advertising is writing its own obituary. Advertisers are being abused blind by adtech ferrets. Research from Media Post concludes that out of the US$200 billion global spend, 70% of advertising dollars spent on online programmatic advertising never touch a human being. In effect, $140 billion disappears in “ad fees, fraud, non-viewable impressions, non-brand-safe placements, and unknown allocations” (by “unknown allocations” you can read “shit that no one can figure out”).

– The pandemic brought first-time advertisers to many platforms, especially OOH and DOOH, 2022 will be no different. New categories like Fintech, NFTs, Crypto (with their supporting companies), and Online/E Sports, Wellbeing,EdTech, FoodTech categories will continue to flourish. After the dash for Expo 2020 attention, big opportunities will come to the fore for advertisers courtesy the FIFA World Cup in Qatar.

– Advertisers and marketers will need to be as nimble as consumers. The pandemic not only accelerated omnichannel retail but also created hybrid behaviours beyond how we shop. From a mix of virtual and in-person fitness to IRL experiences with digital extensions, how we work, play and live is fluid and consumers expect brands to keep up with the rapid pace. For marketers, that means mapping every consumer touchpoint and applying a collection of insights – location, identity, cross-device, in-person, in-stream, etc. – to creative concepts that earn consumers’ attention while respecting privacy. The agility of marketers to behave as nimbly as consumers will translate into brand loyalty in a rapidly growing hybrid world.

– A largely ignored, under served imperative will come to the fore for marketers and advertisers- Building company culture: The industry never had attrition rates as high as it had in 2021, and we’ve never had as many remote employees either. The Great Resignation continues unabated. Last year, the better organisations focused on retention and put a hyper-focus on recognition. Without in-person interactivity, you have to be so deliberate about your culture, especially during remote work. In the coming times, brands and businesses will put a lot of focus on how they create a culture of retention, diversity and recognition. Creativity will have to make a serious comeback.

– For better or for(commerce)verse- Last year we saw a continued acceleration of social with e commerce and sowing of the seeds of ‘ community commerce ‘ glued together by community, creators, shopping and entertainment like never before. In 2022, we’ll see social commerce give way to the “commerceverse” as people begin to move from entertainment to purchase. And as consumers look to build out their environment with virtual goods and experiences, brands will have the opportunity to connect with consumers in a surround-sound way.

– Agency In-Housing: The in-housing trend at brands will not go away, but it is in reverse — to a point. Turns out, it’s too expensive, too complicated and too political for many brands to do at any real scale. Especially when so many businesses are trying to wrangle costs, not inflate them, during a global economic downturn. The pandemic’s knock on the economy forced many marketers to live hand-to-mouth and the flexibility offered by agencies proved to be critical to survival.

– Artificial Intelligence will find a greater say in services like copywriting and content generation– especially with tools like GPT 3(Generative Pre-trained Transformer 3) -an autoregressive language model that uses deep learning to produce human-like text. It helps instantly generate high quality copy for Email, Ads, Websites, Listings, Blogs & More. Save Time And Money Writing Clever, Original Content And End Writer’s Block Forever is the pitch.

– One should have heeded this as a premonition- sometime back the Meaningful Brands study conducted by Havas told us that most people would not care if 74% of all brands disappeared for good. How can brands bridge the gap between apathy and action, particularly with that all-important millennial audience – the biggest generation and the leaders of tomorrow as we collectively take responsibility for getting closer to the UN SDG(Sustainable Development Goals).If we want to change the world, we all have to be involved. All people, of all ages, every brand, no exceptions. Bridging that gap means recognising that brands can be citizens too, with a responsibility to promote, share, create exposure and help to make change. Most importantly, brands can help people to connect to a political process that will make an impact on the world they live in – and that their children will inherit – to act as citizens themselves and not simply as consumers. That is a brand’s role as a citizen – to help consumers be citizens too.

To quote Woody Allen, ” 80% of success is just showing up “. There is no better time to create a bright future.

– Playing it by ear: While our eyes may be ‘maxxed’ after more than a year of relentless screen time, our ears have bandwidth. Our ears are more reliable curators, opting for human connection and unscripted conversations that podcasts and radio provide. A recent WARC Lion’s Intelligence study showed consumers now spend a third of their media time with audio, but most brands spend less than 10% of their media budget with audio. There is no question brands need to right-size their audio investment. But, getting beyond the spreadsheet and learning how to create a real human conversation with the consumer is the secret to winning with audio. Here’s to more conversations about how brands can get heard and get growth with audio in 2022.

– This is how the cookie crumbles:The impending demise of third-party cookies has drastically altered the digital advertising world while simultaneously highlighting how vital first-party data is and will be into the future. For now, first-party and third-party data will continue to exist, and advertisers can maximise this opportunity to run various experiments to ensure they are ready for when third-party cookies are no longer a source of targeting data. Brands that embrace first-party data, contextual advertising, and other third-party data alternatives today will be the industry leaders tomorrow.

– RIP to RFP? : The RFP(Request for Proposal) bandwagon indulged in by enterprises from agencies to extract the cheapest possible price for their services. This comes with scant regard to competence, expertise, empirical evidence and worse who contributes the original idea which is now happily being sacrificed at the ‘ cheapest pricing altar ‘. And we are all aware that ‘ insider trading ‘ is not just restricted to the stock market. Time to cremate this archaic, merit agnostic practice.

– Measurement will be back as the next frontier in 2022 — fueled by the unprecedented rise of CTV, the uncertain future of cookies and identity transactions in digital, and the disruption of Nielsen ratings. As we build for an ever-interconnected digital future, the ‘measurement reset’ is an opportunity to build the relationships between consumers, content creators, publishers and their advertising partners.

– Meta will emerge as part of brand experience and communication conversations and NFTs(Non Fungible Tokens) will begin to come into the brand ecosphere but we are still some time away from these becoming right, front and centre.

I remain conscious of brevity and hence would come to a halt here though there are quite a few more that I would have liked to list as we telescope into the emerging future of the advertising and marketing industry. Maybe in a separate piece.

ENDS

Suresh Dinakaran – Chief Storyteller at ISD ISD Global, a Dubai based branding and ideas hotshop and the Managing Editor of BrandKnew, a multifaceted media asset, published across print, digital and web versions.

Has the AIDA Model in the Customer Journey become outdated?

125 years is a long amount of time. The AIDA model was developed by the American businessman, E. St. Elmo Lewis, in 1898. The original purpose was to optimise sales calls, specifically the interaction between seller and buyer concerning the product.

Just to expand on the acronym(and the obvious):

A = attract
I = interest
D = desire
A = action

Of course the AIDA model is helpful as it provides focus on each area of the customer journey. That being said, allow me a bit of purposeful provocation.

Let’s look at a few reasons why the AIDA model is up for scrutiny:

– Post the ‘ action ‘ stage, the brand is not engaging or conversing with the customer. There is nothing happening after the purchase. In the context of how important customer retention and loyalty is for marketers, this is a pain point.

– In fact, the majority of actions taken by users on social media when it comes to reaching out to a brand involve experience (aka they’ve already interacted with your brand) and for customer service issues (aka they’re already a customer).

Pl refer to the below infographic from Sprout Social on ‘ why consumers message a brand on social media ‘:

The prognosis is that on social media, nearly 96 percent of people contact a brand beyond AIDA, assuming they’re already a customer.

– The AIDA model was constructed during a phase wherein we were in a ‘ Caveat Emptor ‘ or Buyer Beware situation. We are now in a ‘ Caveat Venditor ‘ phase or Seller Beware mode. All the more reason for brands to be in continuous engagement and conversation post action/purchase.

– In an increasingly commoditised world, Customer Experience is your best product.

– Incredible, always on accessibility has driven consumers to crave experiences that are both instant and convenient.

– Experiences are no longer between the company and the customer. Any customer experience can become public news overnight.

– Because it’s easy enough to find a great product for a decent price these days. What’s harder to find is a seamless, customer-centric brand experience.

– Brand Loyalty is on the decline. We are in a ”Switching economy”. 86% of customers would pay more for a better customer experience(Kolsky).

– The biggest thing missing when brands manage the customer journey? Conversations.

So, how do we look at a model that can replace AIDA? You must have heard of ‘ Conversational Marketing ‘ – this is more on the lines of ACCA:

A: attract

C: convert

C: close

D: delight

The below infographic devised by B Squared Media is self explanatory.

Think of conversational marketing as having real-time conversations with your would-be or actual customers.

Additionally, you might want to check out this feature in BrandKnew on Conversational Marketing at https://www.brandknewmag.com/does-your-2020-marketing-strategy-include-conversational-marketing/

The model is still pretty simple. Each part of the customer journey allows for conversations between you and your would-be (or actual) customers. And if we think about customer experience, that’s what sets the superior brands apart.

Everyone knows when they are dealing with a customer centric brand. It shows. You can feel it. Sure you can go deep and crazy with customer experience but, you can also focus on conversations.

Conversations are the ignored, low hanging fruit of almost every business.

Just to let you in on a little secret: all of the marketing buzzwords(influencers! loyalty ! revenue !) live inside of customer care efforts and for some inexplicable reason, most brands are completely overlooking this part of the journey.

The script to write for brands and marketers in organisations is to move from ROI (in the conventional sense) to ROE( Return on Experience). And any kind of transformative customer experience begins with an engaging employee experience.

In a culture of immediacy, people are becoming ever-more impatient when it comes to their transactions and brand engagement.

Some Food For Thought

– More than half of consumers (55 percent) have intended to conduct a business transaction or make a purchase, but decided not to because of a poor service experience- American Express

-89 percent of consumers have stopped doing business with a company after experiencing poor customer service- RightNow Customer Experience Satisfaction Report

-50 percent of consumers give a brand only one week to respond to a question before they stop doing business with them. – RightNow Customer Experience Satisfaction Report

– A 10% increase in customer retention levels increases the value of a company by 30%- Bain & Company

– You need to get to the future, ahead of your customers, and be ready to greet them when they arrive”- March Benioff, CEO, Salesforce.com

Before I sign off, some customer experience benchmarks that are worthy of emulation would include:

Walt Disney: Stooping To Excellence

ACE Hardware: Helpful Hardware People

Ritz Carlton: Ladies and Gentlemen serving Ladies and Gentlemen

Amazon:Building the earth’s most customer centric organisation

A contrarian view as I hang up:

The truth is of course is that there is no journey. We are arriving and departing all at the same time: David Bowie

ENDS

https:www.groupisd.com/story

https:www.brandknewmag.com

https:www.brandknew.groupisd.com

https:www.weeklileaks.com

Present Forward or Future Back: Strategy or Vision?

The future happens slowly..and then all of a sudden. In his fabulous 1926 novel The Sun Also Rises, Ernest Hemingway famously wrote that bankruptcy happens in two ways: “gradually and then suddenly”.

Some years back Andy Grove( ex-CEO, Intel) had introduced the concept of strategic inflection points in his seminal book Only the Paranoid Survive where he explained that a strategic inflection point is ” a time in the life of a business when it’s fundamentals are about to change “.

A change in the business environment that dramatically shifts some elements of your activities, throwing certain taken-for-granted assumptions into question is an inflection point. Someone, somewhere, sees the implications, but all too often they are not heard. That someone might be you!

Whether you are a powerful CEO or someone far lower down in the pecking order, not seeing the unfolding inflection points(or blind spots ) are dangerous.

What is the case we are making here? Too many managers develop strategy while focusing on problems in the present and that is especially true in the times of a crisis(like the Covid 19 pandemic that we are presently pulverised by). Lets call it ‘ missing the wood for the trees ‘. What I am trying to argue here is that leaders instead should imagine the future and work backward so that they build their organisations and brands for the new(emerging) reality.

Even during a crisis, developing a ” future-back ” mindset can spur innovation and growth.

So, in order to build strategy, start with the future.

Let’s take a look at a few examples of brands and organisations that have used the ” future-back ” approach to stunning effect.

Back in the late 90’s and the turn of the millennium, Intel was ruling the roost. With a market share well over 70%, the brand was well and truly in the driver’s seat(apart from being inside millions of computers) with the Pentium Processor going from strength to strength. At the height of that market dominance, Andy Grove took a visionary punt and launched a brand to compete against its very own Pentium– that was the Celeron range of Processors. What he did was to see the future being dominated by cheaper, faster processors( Moore’s Law ) and he did not want Intel to lose out on the potential opportunity that lay ahead of them. That saying Andy Grove was visionary would be an understatement and how prescient the observation in his book ” When spring comes, snow melts first at the periphery, because that is where it is most exposed “, bears testimony. Intel Inside. Meets Intelligence and Insight!

Take another example of the ” future-back ” approach that Reed Hastings, Founder/CEO of Netflix adopted to reach where it is today. At the height of their DVD rental business success, they ventured into streaming(encouraging both cannibalisation and migration of their existing subscriber base) anticipating that the medium to long term future of in home entertainment will hinge on that. Not just that, look at their understanding of the competitive landscape- it went well beyond the typical television broadcast networks and cable TV of the day. They distilled the big picture into getting their prospect’s time and attention. Broadened the eco system significantly. Rather made it a category by itself. So, in effect, the competition included time their viewer/s spent going to movie houses, eating out, entertaining friends and family, travel and holidays etc etc. By wearing a different lens and examining a hitherto unseen/untried approach, helped them immensely in becoming the brand they are today.

No conversation about a ” future-back ” model and a vision preceding strategy would be complete without talking about Steve Jobs and Apple. Back in the day, the way they disrupted music consumption and music distribution through iTunes and iPod is now part of folklore. They did not wait for either the market or the customer to tell them what is needed. They took moonshots( it’s in the culture), created highly desirable products that the customer never knew they wanted or would need and generated unprecedented gravitas, and the rest they say is history. Apple as a brand and Steve Jobs as a leader was always seeing around corners, anticipating trends and operated at the intersection of a new future and non articulated consumer need and desire.

Let me add here. ‘ Customer knows best ‘ is a whole load of balderdash. If organisations were to depend on customers to know what is needed, there would not have been any Post It Notes(3M), Fax Machines(Xerox) and many of today’s incredibly successful brands like Amazon, Tesla, Netflix, Airbnb, Uber, Zomato etc. The onus and responsibility of drawing the future and working backward from there is fully on you, your brand, your organisation. So, don’t run away from it. Take it head on.

While we debate the vision vis a vis strategy and the “ future-back ” model to a ” present-forward ” one, do be aware that a vision is like an ‘ impressionist painting ‘ and NOT a ‘ photograph ‘. A photograph captures what there is already, there is NO speculation, hedging, punting and imagining the non existent. A vision on the other hand is similar to an impressionist painting in the sense that it is visualising what could/should be, what will/can be or what may/may not be. It is taking a shot at the future and setting the road to travel back from there.

To be blunt, getting through this tricky process of envisioning the future begins with confusion, experimentation and a touch of chaos followed by a single minded determination to make progress against an overarching goal. And an approach that futurist Paul Saffo recommends as creating as many forecasts as possible, fail as quickly as possible and vitally ” to hold strong opinions weakly “.

Another valuable perspective on this chaotic period of thinking is offered by Nassim Nicholas Taleb in his book Antifragile: Things That Gain From Disorder. Anything that has more upside than downside from random events(or certain shocks) is anti fragile.

Rita McGrath, Columbia Business School professor and business consultant recommends a ‘ discovery driven approach ‘ to anticipating the future and you can dive deeper into her thinking and recommendations in BrandKnew on these links https://www.brandknewmag.com/thinking-innovation-driving-growth/ and https://www.brandknewmag.com/discovery-driven-digital-transformation/ .

It was the 4th of February, 2014. Satya Nadella was announced as the new CEO of Microsoft, the third chief executive in the company’s history, following Bill Gates and Steve Ballmer. Recognising that most of Microsoft’s woes at the time were a function of an approach that was ” present forward “, the first thing he did was to tell everyone in the organisation ” We are going to be moving away from a know it all organisation to a learn it all one “. Looking back on how well Microsoft is doing now compared to 2014, bears testimony to the potential for organisations in adopting a ” future-back ” model.

Brands that didn’t heed the ” future-back ” model and met their fate inspite of being market leaders once upon a time include the likes of Blockbuster, Kodak, Nokia, Toys ‘R’ Us.

There are other industries very ripe for the picking to drive home further the point of vision preceding strategy. The pharmaceutical sector for instance. Based on empirical evidence, learnings from past epidemics like SARS, Ebola, Swine Flu, emerging lifestyle patterns and the accompanying chronic diseases that it helps manifest(diabetes for one), a pharma company can seize opportunities and address customer pain points that will occur in the future. An example that is worth looking at is the pharma giant Roche. Which saw huge potential in the ” future-back ” approach. That helped revive it’s struggling diabetes unit. The company ingeniously paired the mySugr app (which it had acquired in 2017) with Roche’s Accu-Chek Guide glucose meter, thereby allowing diabetics to have a different, gamified experience to managing their condition. By logging in their blood glucose levels, completing tasks and challenges, users can “tame their diabetes monster”. It’s a totally different approach(at least for the pharma sector) which forecasts that “the way forward will mean selling a total experience, not just a product.”

Rather than look at Fall of 2020 or Spring of 2021, Universities/Colleges will be best served to go further down the road and see how do we cope, prepare and anticipate learning and training needs in the near distant future and move backward from there. With the current Covid-19 crisis having caught a lot of educational institutions severely under prepared and like a deer in the headlights with no werewithal (and mindset) for virtual/online delivery, the time is now, to graduate, to look into the future.

So, ‘ where do you go from here ‘? Or, rather, I should be asking ‘ where are you coming back from ‘ ?

PS: For leaders and organisations wanting to undertake ‘A back to the future voyage ‘, the video on this link https://www.groupisd.com/phewturecast/ can be a starting point.

ENDS

https:www.groupisd.com/story

https:www.brandknewmag.com

https:www.weeklileaks.com

https:www.brandknew.groupisd.com

Numerology and the Marketing Math!

Numerology and the Marketing Math: The 25 to 70% off enigma!

Numerology: Definition: The branch of knowledge that deals with the occult significance of numbers.

We are all swayed by possibility. As we are swayed by short cuts. Human beings are hardwired to be lazy. So, unless and until there is a by design effort to put in the emotional labour, routine is the ardently followed also ran. Mundane replaces the potential jugular. It remains that way, because it’s always been done that way. So why upset the applecart? But what happens when the cart is being toppled?

I am not a numbers person. Far from it. It somehow just doesn’t add up for me. So, I have almost subtracted it from my life. But, being in the space that I am, and observing the brand marketing communications around me, I am tempted to do a deeper dive and know more.

25 to 70%off: Most of you would have seen these numbers scream out at us day in and day out from newspapers, billboards, radio ads, digital ads etc. In fact, some of us were mistaking the 25 to 70% off to be a tourist destination(considering how many of them sprout all over the city)- One cannot miss it because leading brands across industry verticals with the support and ‘ advise ‘ of big ticket advertising agencies make sure such campaigns are run 13 months in a year. So, that makes it 24X7X395. A different numerology this!

The ever lasting love affair of brand and marketing experts with 25 to 70% off remains a mystery. Or by now, it should not be. Considering the amount of time ‘ the practice ‘ has come to root(or should it be rot?). And the practice has been perfected beyond question. And ably aided by ‘ brand guardians ‘ who toe the line willingly as this ‘ ad vise ‘ is coming from senior czars at the big ticket ad agencies– how can they get their ‘ numbers ‘ wrong? . They have everything going for them- They use ‘ fancy calculators ‘, wear Armani suits, have Turkish coffee 8 times a day, the hair is slickly gelled. Sorry, forgot to add the clincher-they also wear crocodile skin pointed leather shoes!!!

I have heard somewhere that ‘ the more things change, the more they remain the same ‘. Recently, a very senior brand and business head of a market leading lifestyle brand called us at ISD Global saying that they are in troubled times. They were losing market share and from being a clear category leader with over 65% retail market share, it was time for store closures, downsizing(or rightsizing to make it sound sweeter) and market share dipping to below 40% – all that in a matter of about 18 months. Inspite of increased marketing spends as advised by the ‘ experts ‘. My question to him was to understand what were they doing different to what was being done and not surprisingly the answer remained ‘ we have aggressively started doing deep discounting and instead of doing it 4 times a year, we remain committed to doing it through the year ‘…so there you go, enough said – ‘ the more things change, the more they remain the same ‘.

So, do these brand owners and guardians take their coveted ad agencies to task? I’m afraid not. If that were to happen, how can they make ‘ interesting, cerebral conversation ‘ saying that our brand works with XXXX agency – they are in the Top 5…and walk around with a chip on their shoulder. And be ranked among ‘ Top 50 ‘ Marketing Professionals in XXXX. Recognised as the ‘ best 40 under 40 ‘ or the ‘ leading 50 over 50 ‘- to be flagged on their Linked In profile. And ‘buy awards ‘ and (p)ride of place in Superbrands next hard bound edition.

Customers buy only on price and the more you deep discount, more loyalty they bring to the equation is still the belief(believe it or not!). We can keep bribing them and they will keep flocking like bees to honey. But, what happened? The numbers are not adding up. The 25 to 70% off numerology chapter needs to turn the page. The strategy is now clearly a ‘ has BEEn ‘! And still being tried Bees Saal Baad( Twenty Years Hence for those not familiar with the Hindi language).

So, where are they headed? To me the writing is on the wall- or is it on the palm?

Palmistry, anyone? Could be easier. Palm off your responsibility to someone or something else! Enough suckers around.

As for me, I am calling up my Mom(God Bless Her) to know more about the occult practice..you guessed it: Numerology!

Disclaimer: She is a retired Math teacher. And she has no interest in ‘hyperbole discounting‘.

And if you permit me a bit of Marketing 01(not even 101): ‘ Differentiation is not an intrinsic characteristic of a brand; differentiation is in the eye of the consumer ‘.

For all those swayed by the ‘ herd mentality ‘, this may never get heard. But, that being said, marketing is a serious responsibility. And there is no running away from that!

ENDS

Quad(rant) biking through life!

Quad(rant) biking through life!

Quadrant: here is the mathematical definition in American English: one of four rectangular areas that coordinate plane( = area with vertical and horizontal measures) is divided into.

We have often heard about terms like ’ Be Limitless ‘ and ‘ Endless Possibilities ‘. These are bandied about in self help books, motivational speeches and even some business negotiations..” Considering the synergies that exist between our two organisations, there are endless possibilities that we can collaborate on “, is not very uncommon CEO speak. Well, (enough) said!

The reality on the ground is very different though. There is not much weightage accorded to the magic and energy of ‘ possibility ‘. And even less so in the case of what empowers possibility ie ‘ enrollment ‘. Often times we are all barking up the wrong tree. Consider that we look at this situation like if it were to be a quadrant with four concourses.

Concourse 1: High Possibility; High Enrollment: This is where most of our tribe is headed. Showing up, enrolling and putting in the hard yards, the emotional labour in the hope that at the end of it, they would realize what was envisaged as possible when they began. It’s indeed a very overcrowded space, fueled in large doses by what we call the ‘ herd mentality ‘ and the supposed ‘ wisdom of the crowds ‘. Needless to say, the competition in this concourse is the highest.

Concourse 2: Low Possibility; High Enrollment: How to get into the Brazilian national football team ? Or any of the top NBA teams. Or getting admission into the IVY League Universities like Harvard, MIT etc. The odds are heavily stacked against the participants but the level of intensity and desire to get on board is at its highest which reflects in the insane number of enrollments for that special pie in the sky. In such cases, the existing eco system also keeps triggering and stimulating the hope and promise and thereby the corresponding spike in enrollment to get on board.

Concourse 3: Low Possibility; Low Enrollment: Yes there are such tribes..wanting to be lava surfers and ride the lava spitting out from the Mauna Loa (one of the world’s biggest volcanos) but there is neither a structure nor system in place to bring this to fruition. Little wonder such things see the lowest in terms of both possibility and enrollment.

Concourse 4: High Possibility; Low Enrollment: Strangely, this is the most under tapped area of the quadrant in spite of this being the area with the highest potential. It could be areas like being a social worker or a nurse or a music therapist. There is always a Minimum Viable Audience(MVA) and our enrollment can see that audience being connected to, engaged with, influenced and impacted.

We hold on to the old competencies and our hard-earned status roles far longer than we should. The only way to be creative is to do something new, and the path to something new requires leaving something else behind. Creativity is the generous act of solving an interesting problem on behalf of someone else. It’s a chance to take emotional and intellectual risks with generosity.

“Ignore sunk costs” is the critical lesson of useful decision making.

The thing you earned, that you depend on, that was hard to do–it’s a gift from your former self. Just because you have a computer science degree, a branding agency or the ability to do calligraphy in Cyrillic doesn’t mean that your future self is obligated to accept that gift.

What can we distill from this? Which is the Blue Ocean( or even better Green Swan) that is calling out to us? How much enrollment are we planning to put in to swim to where we want to be? Are we prepared to guts it out? Yes, the possibilities are out there. Enrollments are open. Apply now!

ENDS

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Mediocrity is never an accident,it’s by design,so,watch out!

“It’s lonely at the top. 99% of people are convinced they are incapable of achieving great things, so they aim for mediocre. The level of competition is thus fiercest for ‘realistic’ goals, paradoxically making them the most competitive.”

-Tim Ferriss

Ironical isn’t it that we are knowingly ultra competitive when we are striving for mediocrity. And, ironically, the fiercest competition is for the second-class prizes. And we still don’t get it!

It’s a long never ending tirade. Justifications that are shallow, hollow and mere escapism. I am referring to the reasons why we endorse and end up doing mediocre work. Let’s look at the usual suspects..

The brief was lousy..

I hardly had any time..

The customer does not value quality..

We never get the right price..

It’s a one way street, we are always the one being short changed..

Does it really matter? As nobody ever notices..

You are always critical..

This market never appreciates high quality..

The management will never understand..

I have always done it this way..

My boss is a jerk..

I don’t want to fail..I rather play safe..

Half hearted, half baked, short cuts, excuses. Period. Nothing else. They are all sad facades, masking the real issue. The outcome where sub optimal emotional labour is committed will always reflect a huge gap between what could have been and what is.

If you’re not willing to fail, you guarantee you’ll stay average-at-best.

If you want to grow into an extraordinary version of yourself, you must be willing to fail — a lot.

“Stay in your lane.” Focus on you. Learn all you can. Experiment, fail, discover what works.

When you see the 25 to 70% off ad screaming from every second billboard in town for every second brand, that is when you come to realise the often heard ‘ herd mentality ‘. Find safety in numbers. Conform, adhere, comply, fit in, exist, survive, get along, pass by. By design, the quest for supreme mediocrity(read comfort food) is perennial and offers perpetual succour. Or so it seems considering the seriousness with which it is latched onto. And there is no letting go. And that, amongst a community of really bright minds who came into the profession with a clarion call to make their own little dents in the universe. And what are they managing to do- drive people away from the profession.

You have to decide to opt either for the wood or for the trees. Do you want to care enough to create something better? Introspect and the answer will be very close at hand.

Most people will stay in mediocrity.They’ll continue fighting with the majority for average, subpar prizes.

It doesn’t have to be this way. The road that leads to an incredibly exciting, fulfilling life is waiting for you. It’s free and open, and there are no crowds. And pay no heed to the ‘ wisdom of the crowds ‘ narrative- it’s just a more sophisticated coinage for finding solace in the average, the sub par, the mediocre.

You can either take a ‘ leap of faith ‘ or retire to a ‘ sleep of fate ‘. What got you here is not going to get you there. As Todd Henry so beautifully captured in his book ” Die Empty ‘- Unleash your best work every day. Practice the art of non-conformity! That’s what we preach and practice at ISD Global. And we get to do that every day. Gratitude!!

ENDS

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