Saturday, March 28, 2020

Joshua Bell experiment


Will one of the nation's greatest violinists be noticed in a D.C. Metro stop during rush hour? Joshua Bell experimented for Gene Weingarten's story in The Washington Post: 

A onetime child prodigy, at 39 Joshua Bell has arrived as an internationally acclaimed virtuoso. Three days before he appeared at the Metro station, Bell had filled the house at Boston’s stately Symphony Hall, where merely pretty good seats went for $100. Two weeks later, at the Music Center at Strathmore, in North Bethesda, he would play to a standing-room-only audience so respectful of his artistry that they stifled their coughs until the silence between movements. But on that Friday in January, Joshua Bell was just another mendicant, competing for the attention of busy people on their way to work.

It was 7:51 a.m. on Friday, January 12, the middle of the morning rush hour. In the next 43 minutes, as the violinist performed six classical pieces, 1,097 people passed by. Almost all of them were on the way to work, which meant, for almost all of them, a government job. L’Enfant Plaza is at the nucleus of federal Washington, and these were mostly mid-level bureaucrats with those indeterminate, oddly fungible titles: policy analyst, project manager, budget officer, specialist, facilitator, consultant.

Each passerby had a quick choice to make, one familiar to commuters in any urban area where the occasional street performer is part of the cityscape: Do you stop and listen? Do you hurry past with a blend of guilt and irritation, aware of your cupidity but annoyed by the unbidden demand on your time and your wallet? Do you throw in a buck, just to be polite? Does your decision change if he’s really bad? What if he’s really good? Do you have time for beauty? Shouldn’t you? What’s the moral mathematics of the moment?

Bell always performs on the same instrument, and he ruled out using another for this gig. Called the Gibson ex Huberman, it was handcrafted in 1713 by Antonio Stradivari during the Italian master’s “golden period,” toward the end of his career, when he had access to the finest spruce, maple and willow, and when his technique had been refined to perfection.

Bell bought it a few years ago. He had to sell his own Strad and borrow much of the rest. The price tag was reported to be about $3.5 million.

On Friday, January 12, the people waiting in the lottery line looking for a long shot would get a lucky break -- a free, close-up ticket to a concert by one of the world’s most famous musicians -- but only if they were of a mind to take note.

Three minutes went by before something happened. Sixty-three people had already passed when, finally, there was a breakthrough of sorts. A middle-age man altered his gait for a split second, turning his head to notice that there seemed to be some guy playing music. Yes, the man kept walking, but it was something.

A half-minute later, Bell got his first donation. A woman threw in a buck and scooted off. It was not until six minutes into the performance that someone actually stood against a wall, and listened.
Things never got much better. In the three-quarters of an hour that Joshua Bell played, seven people stopped what they were doing to hang around and take in the performance, at least for a minute. Twenty-seven gave money, most of them on the run -- for a total of $32 and change. That leaves the 1,070 people who hurried by, oblivious, many only three feet away, few even turning to look.

Even at this accelerated pace, though, the fiddler’s movements remain fluid and graceful; he seems so apart from his audience -- unseen, unheard, otherworldly -- that you find yourself thinking that he’s not really there. A ghost.
Only then do you see it: He is the one who is real. They are the ghosts.

IF A GREAT MUSICIAN PLAYS GREAT MUSIC BUT NO ONE HEARS . . . WAS HE REALLY ANY GOOD?

It’s an old epistemological debate, older, actually, than the koan about the tree in the forest. Plato weighed in on it, and philosophers for two millennia afterward: What is beauty? Is it a measurable fact (Gottfried Leibniz), or merely an opinion (David Hume), or is it a little of each, colored by the immediate state of mind of the observer (Immanuel Kant)?
We’ll go with Kant, because he’s obviously right, and because he brings us pretty directly to Joshua Bell, sitting there in a hotel restaurant, picking at his breakfast, wryly trying to figure out what the hell had just happened back there at the Metro.

“At the beginning,” Bell says, “I was just concentrating on playing the music. I wasn’t really watching what was happening around me . . .”

“It was a strange feeling, that people were actually, ah . . .”
The word doesn’t come easily.
“. . . ignoring me.”
Bell is laughing. It’s at himself.

“At a music hall, I’ll get upset if someone coughs or if someone’s cellphone goes off. But here, my expectations quickly diminished. I started to appreciate any acknowledgment, even a slight glance up. I was oddly grateful when someone threw in a dollar instead of change.” This is from a man whose talents can command $1,000 a minute.

“The awkward times,” he calls them. It’s what happens right after each piece ends: nothing. The music stops. The same people who hadn’t noticed him playing don’t notice that he has finished. No applause, no acknowledgment. So Bell just saws out a small, nervous chord -- the embarrassed musician’s equivalent of, “Er, okay, moving right along . . .” -- and begins the next piece.

If we can’t take the time out of our lives to stay a moment and listen to one of the best musicians on Earth play some of the best music ever written; if the surge of modern life so overpowers us that we are deaf and blind to something like that -- then what else are we missing?

Advertising Examples


Six years and thousands of clients after the Smarter Planet debut, IBM showcased its progress in a 2014 campaign, Made With IBM. The campaign showed IBM as an essential partner in providing technology building blocks for the new world at work — data, cloud, mobile, social and security.

In 2015 the Outthink campaign promoted the concept of cognitive business, with IBM Watson at its center. Smarter Planet had shown us an intelligent, instrumented and interconnected world. The Cognitive Era advances that idea using analytics, natural language processing and machine learning. The goal is systems that can understand, reason and learn; as IBM CEO Ginni Rometty explains, to “redefine the relationship between man and machine.”

Friday, March 27, 2020

3B-3E (notes.1)

Brand Management: Aligning Business, Brand and Behaviour

BUSINESS / BRAND / BEHAVIOUR
Sales Funnel: Aware / Consider / Try / Adopt

Not customer, but consumer! Dynamic sequence of experiences...
Journey across a variety of experiences for the consumer.
Business to design & deliver a differentiated experience. Brand - engage people. Align the 3Bs accross channels & markets.

The brand image lives on customers mind.
Visual identity + Image. Competitive environment.
Safe = Volvo / Magical = Disney (experience)
A brand is a living entity, the product of a thousand small gestures.
Perfect competition: players in industry don't make profit, all value goes to the consumers.
- Large number of sellers with low barriers to enter.
- Perfect information for customers.
- Homogeneous (commodity-like) products. Low cost competitors copy the leaders.

Role of environment?

Brand promise + Delivery of that promise. Engage with different business functions, more than marketing (ex. HR). Care about!
Responsibility in business practice. Test - Get it out - Feedback - Improve. Give magic. Experience / Learning by doing / Purpose of business.

Brand purpose:
- Differentiation, difference that matters to consumers. Brand differentiation: A relevant (valued) point-of-difference in relation to competitors. What the brand stands for? Use Slogan!
From product / service - to consumers' wellness (ex. Pampers). Build the brand from inside out! Consumer purpose - product / service. Understand the core value of customers behaviour. BB - customers buy solutions!
In 3B model: Business, organization's fundamental reason for being and core purpose is to guide and inspire. Brand, exists as the purpose to drive the entire organization. Behaviour, the goal worth the strive and the struggle.

M&C Saatchi :
The way that brand communicate to consumers. Influence!
Brand life cycle is vey quick. Speed! As brands get out of fashion.
Principles of 'brutal simplicity':
This is the idea that whatever you're selling should be broken down to its core value or essence for it to be understood.
SURT ('Simple universally recognisable truth') + Brand Truth = IDEA
3 box thinking works because it mirrors an old sales technique of getting someone to say 'yes' 3 times which then results in them saying 'yes' to the final question of 'would you like to buy this product'. (If you tell people that the sky is blue or the grass is green - they have no option but to agree. If you then tell them something they can't dispute about your brand then they have to agree with that too. Once you finally hit them with your simple new idea, they have not option to but agree once again, even if it challenges their existing beliefs.)
3 box thinking: Consumer/Target truth / Brand truth / Idea!
Simplicity!
Traditional / Digital / Social media (brand glue to hold different formats together) = Coherent view. Ask people to behave in a certain way. Affect peoples behaviour.

3E
Value creation: Efficiency / Effectiveness / Experience
The experience part differentiates you. Think about a music performance! Create an advantage.
The Quality of the product vs. The experience of the product
Business -Efficiency (past: reduce waste and keep the output) Strong focus on cost reduction. (TQM Total Quality Management)
Does cost cutting actually work? Cut the bad cost, be careful about the good cost!
Effectiveness, race in terms of performance.
Customers pay money for the value created. Consumers use, value is in the use of a product / service. This is the consumer experience. Make everything easy. Allow consumer to be creative. Value created within the consumer and not within the product. Consumer's journey. The product allows you to release the value. (ex. Apple)

3B/3E (3+3 drivers of value creation)
Business + Efficiency: Assemble commodities sod to markets.
Brand + Effectiveness: Design products/services for customers/clients.
Behaviour + Experience: Stage experiences for consumers.
Are you pretty much the same with competitors? Differentiation?

Brand image is what people think about the brand. The potential benefits of having a strong brand purpose: Provide customer relevance, attracts and motivates talent. The customer journey cuts across business processes and all people (across the organisation) need to deliver on the brand promise.
Brand differentiation = Competitive advantage.

“Let’s seize this opportunity to create more and better jobs, cultivate valuable skills, and not simply repair but prepare our economy for the 21st century.” IBM for the 2008 economic crisis.

B2B
New research shows there’s a surprising gap between the brand messages that suppliers offer to customers and what their customers really want to know.

The themes that many B2B companies consider important for brand imaging appear to have minimal influence on buyers’ perceptions of brand strength.

The themes that many B2B companies consider important for brand imaging appear to have minimal influence on buyers’ perceptions of brand strength.
-Are you telling the same story as your competitors?
Given the prevalence of similar messages, this is an important checkpoint for many companies. If both you and your rivals claim that your (and their) products derive from renewable sources, this probably won’t move the needle when customers consider your brand. Contrast that with IBM’s Smarter Planet branding effort, which tells a story emphasizing the company’s special capabilities in the digital economy and guides not just external communications but also product development and other forms of employee engagement.

-Does your sales force say it is facing headwinds?
Even in the digital era, personal interactions with sales reps remain the most influential factor—across touch points—for B2B customers. That makes salespeople a great source of information about the degree to which customers see your products as differentiated or worth a premium.

-Do you deliver your brand in a consistent way?
Especially at a time when opportunities to deliver brand messages are proliferating as never before, consistency is crucial. If anything, today’s increasingly fragmented environment calls for a more disciplined communication of values and messages across a wider range of channels, including some quite traditional ones, for a longer period of time.
though: changes in the market environment should influence brand-messaging. Consistently gathering information and evolving in response are valuable ways of closing any gaps that may be opening up between your brand messaging and your customers’ needs.

brand bar stool test:
(measure advertising effectiveness because: advertising is most effective when it is easy to understand.

The Barstool Test is a technique used by many copywriters:
Once you finished writing your copy, imagine you are in a bar having a drink with your prospect. Then read each sentence you written, out loud. As you do so, ask yourself, “Would I really say that, in that way, if I were sitting on a barstool having a beer with this person?” If the answer is no, decide what it is you wouldn’t say, re-write it, and repeat the process. Do this with every sentence and every paragraph of your promotion until you are satisfied it all sounds like a barstool conversation.
And that’s it. That’s the Barstool Test.

Take-Away Points
1. Research has shown that advertising is most effective when it’s easily understood.
2. The best way to make an advertisement or any other marketing content easy to understand is to write like you speak – as though you’re having a conversation with your reader.
3. To make sure your writing sounds conversational, use the Barstool Test.
Business Model Innovation Frame Slide - SlideModel

Glossary

B
Brand equity – the commercial value a brand provides to a firm through its effects on the attitudes and behaviours of its stakeholders.
Brand identity – a name, symbol or design that identifies a product, service or entity from others.
Brand image – a set of associations attached to a brand identity in the minds of its stakeholders.
Brand promise – the customer value proposition or benefits communicated by the brand to the customer and/or consumer.
Brand purpose – this answers the question of why a brand exists with respect to the positive difference it aims to make in people’s lives.
Brand valuation – the Net Present Value (NPV) of future cash flows stemming from the brand as an intangible (separable) asset, for example, as estimated in the avoided royalty payments through ownership of a trademark and associated intellectual property (e.g., brand guidelines).
Brand value – the incremental Net Present Value (NPV) of future cash flows stemming from a branded compared an unbranded business and product via its effect on all stakeholders (e.g., customers, employees, suppliers, financiers, channel partners, etc.). In simpler terms, what deploying the brand is worth to management, the bottom line, and shareholders.
Branding – the creation of names, symbols, characters, and slogans that (1) help identify a product and (2) create unique positive associations that differentiate it from the competition by (3) creating additional meaning (value) in consumers’ minds.
C
Consumer – a person or entity that makes use of a good or service.
Culture – the tone and way in which things are done around the organisation.
Customer – a person or entity that purchases goods or services.
Customer-based brand equity – “the differential effect of brand knowledge on consumer response to the marketing of the brand” (Keller, Journal of Marketing, 1993).
Customer/consumer experience – a customer’s and/or consumer’s holistic perception of their interactions with an organization and its products and services over the duration of their relationship.
Consumer/customer journey – the mapping of the customer experience across all touchpoints (in particular those “moments-that-matter”) between the customer and/or consumer.
Customer value proposition (CVP) – the sum total of benefits which a seller promises a customer will receive in return for the payment or other value-transfer.
D
Differentiation – relevant associations or the net value of customer perceptions of a brand, product, or service that sets it apart from the competition.
E
Employee-based brand equity – “the value a brand provides to a firm through its effects on the attitudes and behaviours of its employees” (Tavassoli, Sorescu & Chandy, Journal of Marketing Research, 2014).
Employee branding – the process by which employees learn about, commit to and are are motivated and enabled to deliver the proised brand experience to customers and consumers.
Employee Value Proposition (EVP) – the benefits promised by an organisation in return for the talent, experience and engagement employees bring to the organisation.
Employer brand – the image of an organisation as a great place to work in the minds of potential and current employees.
Experience – the perceptions of an event, episode or encounter that leave an impression.
I
Intangible asset – a non-physical asset such as a patent, trademark, or goodwill recognized in business combination.
M
Mission statement – a simply written statement of the current business purpose to provide direction and guide decision making: what business are we in, i.e., what do we aim to provide for our customers and other stakeholders?
N
Net Present Value (NPV) –the future cash receipts associated with an investment, discounted by a specified rate of return.
P
Positioning – the strategic intent (aim) or design for a differentiated brand image within a specific target audience.
R
Royalties – rent-like payments made to the legal owner of a brand (or other asset) by those who wish to make use of it, for example, to generate revenue.
S
Sales funnel – the visual representation, in the form of an inverted funnel or pyramid, of the customer relationship with a brand, product or service ranging from “customer states” such as awareness, to consideration, to trial, to repeat purchase, to adoption (e.g., habit or loyalty), or other sales outcomes such as up-selling and cross-selling.
T
Trademark – a distinctive mark or feature particularly characteristic of or identified with a person or thing.
V
Values – these describe your desired culture and can be “who values” that describe the organisation’s character or spirit, often anchored in its heritage; what or “end” values that link to the organisational purpose; and how or “means” values that are a code of behaviour that defines the manner in which the organisation intends to accomplish its aims, the emphasised norms, principles, or common set of beliefs.
Vision statement – based on the organisational purposes, this describes why a business is doing what it is doing and where a well-executed mission will take them. Best done as an inspiring image of a possible and desirable future state, in order to unite and inspire all stakeholders.