#206 Albert D. Lasker (the creation of the advertising industry)
whatshot 103 snips
Sep 23, 2021
Discover the groundbreaking impact of Albert D. Lasker on the advertising industry. He transformed traditional advertising from mere space brokering into a creative powerhouse driven by understanding consumers. Explore the tension between his innovative methods and emotional struggles, as well as the influence of Claude Hopkins on advertising evolution. Dive into a narrative that highlights the journey from a high-stakes business environment to purposeful living, showcasing the importance of embracing change and creativity in entrepreneurship.
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Father's Influence
Albert's father, Morris, heavily influenced his life and career choices.
Morris's struggles during the Panic of 1893 taught Albert the importance of financial stability and independence.
insights INSIGHT
Advertising's Untapped Potential
Lasker noticed advertising agencies were just brokers, missing the potential of creative work.
The convergence of new products, transportation, and media created massive untapped potential.
volunteer_activism ADVICE
Find the Untapped Potential
Don't accept the status quo; question existing practices within an industry.
Find areas where people are leaving money on the table by not maximizing their service/product.
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This book provides comprehensive insights into the world of advertising, covering topics such as how to get a job in advertising, how to choose an agency for your product, the secrets behind effective advertising, how to write successful copy, and the role of research in advertising. Written with brutal candor and generosity, Ogilvy shares his extensive knowledge and experience in the industry, making it a valuable resource for both professionals and those interested in advertising.
My Life in Advertising
Claude Hopkins
In 'My Life in Advertising,' Claude C. Hopkins shares his extensive experience and insights gained from over three decades in the advertising industry. The book is a blend of autobiography and practical guide, offering timeless principles on effective advertising. Hopkins emphasizes the importance of understanding the consumer, using specific and definite claims, and testing advertising strategies. He also discusses his methods for creating successful ad campaigns, including the use of free samples, the appeal of personalities over corporations, and the necessity of focusing on the consumer's needs rather than the advertiser's pride in their products. Despite being written in 1927, the book's principles remain relevant today, making it a valuable resource for anyone in the advertising and marketing fields.
Scientific advertising
Claude Hopkins
Written in 1923, 'Scientific Advertising' by Claude C. Hopkins is a seminal work in the advertising industry. The book outlines an advertising approach based on testing and measuring, highlighting the importance of split testing and coupon-based customer tracking. Hopkins stresses that advertising should be treated as a science, with every ad rigorously tested to determine its effectiveness. He also emphasizes the power of direct response and the need for ads to focus on salesmanship, encouraging immediate action from the target audience. The book is widely regarded as a must-read for anyone in marketing and advertising, with principles that remain relevant today[2][4][5].
Zero to One
Notes on Startups, or How to Build the Future
Peter Thiel
In 'Zero to One,' Peter Thiel argues that true innovation comes from creating something entirely new, going from 'zero to one,' rather than incrementally improving existing ideas. He emphasizes the importance of vertical progress through technology and the benefits of monopoly in driving innovation. Thiel also discusses the need for long-term planning, the importance of finding the right co-founders, and the power law in startup success. The book challenges conventional wisdom and encourages readers to think critically and aim big to build the future[2][3][5].
The House of Morgan
An American Banking Dynasty and the Rise of Modern Finance
Ron Chernow
This book is a rich, panoramic story of four generations of the Morgan family and their secretive firms that transformed the modern financial world. It traces the trajectory of J.P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987. Chernow explores the family’s private saga, their involvement in major infrastructure projects, their influence on foreign policy, and their relationships with prominent figures like Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill. The book is a masterpiece of financial history, awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth Century.
The Man Who Sold America
The Amazing (but True!) Story of Albert D. Lasker and the Creation of the Advertising Century
Arthur W. Schultz
Jeffrey L. Cruikshank
This book tells the story of Albert D. Lasker, a pivotal figure in shaping modern advertising through innovative techniques like 'reason-why' advertising. Lasker's influence extended beyond advertising into politics, sports, and social services, leaving a lasting legacy on the 20th century. Despite his achievements, Lasker faced personal struggles with mental health throughout his life.
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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Advertising is a very simple thing. I can give it to you in three words: Salesmanship in print.
Before he arrived on the scene, advertising agencies were mostly brokers of space in newspapers and magazines. With Lasker's prodding, the industry became a creative force and began earning substantial commissions.
His rare ability to put troubled geniuses to work on challenging problems grew in part from the fact that he himself had been driven by "a thousand devils.”
Albert measured himself against the man who had braved the privations and horrors of the Civil War, epidemics, and hurricanes and made several fortunes in a foreign and sometimes hostile land.
Thomas was often taken aback by his young colleague's unconventional views and methods.
He decided that he could represent as well as anybody, because at least as far as he could tell, nobody in his office really knew anything much about the business they were in.
He was beginning to suspect that advertising agencies were leaving an enormous amount of money on the table. Lasker felt sure that he could build the business, and boost commissions if he could improve the agency's copywriting.
You are insufferably egotistical on the things you know nothing about, and you are painfully modest about those things about which you know everything.
Hopkins began imparting his theory of copywriting. We should never brag about a client's product, he said, or plead with consumers to buy it. Instead, we must figure out how to appeal to the consumer's self-interest.
Lasker argued that rather than maintaining many modestly successful small brands, the company needed to create one overwhelmingly powerful product.
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Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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