Sleeping Barber - A Marketing Podcast

On this week's episode of the Sleeping Barber Podcast, we are excited to welcome Prof. Hermann Simon to the show. Prof. Simon is a bestselling author of more than 40 books and is a leading authority in pricing. His accolades include being inducted into the Thinkers50 Hall of Fame and having a Chinese business school named after him in Shouguang.  We had the pleasure of discussing various topics, like defining the three drivers of profit, good v. bad market share, profit killers, and much more. It was an incredibly enlightening conversation we know you'll enjoy.  Enjoy the show. ____________ Our Guest: Follow Prof. Hermann Simon: https://www.linkedin.com/in/simonhermann/recent-activity/posts/. Follow Simon-Kucher and Partners: https://www.linkedin.com/company/simon-kucher-&-partners/. Thinkers50 Profile: https://thinkers50.com/biographies/hermann-simon/  Confessions of the Pricing Man: https://www.amazon.ca/Confessions-Pricing-Man-Affects-Everything/dp/3319203991/ref=sr_1_1 ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature and Links: The Pricing Man Summary: https://jamesclear.com/book-summaries/confessions-of-the-pricing-man Hermann Simon Articles: https://hermannsimon.com/articles/ Herman Simon Books: https://hermannsimon.com/books/  ____________ Timestamps 0:48 -  Intro to Hermann Simon 2:46 - Price, the neglected stepchild of the 4Ps 4:29 - Cost plus, the most frequent pricing mistake 7:00 - Why profit, not volume, is the only meaningful goal of a business 9:45 - Why the airline industry is prone to price wars 12:15 - Profit killers: overcapacity & market share 14:56 - How to counteract price war 17:19 - Why do marginal costs define the lower price limit 19:06 - The three drivers of profit & which is most effective 23:08 - Why companies should orient to price, not volume 26:49 - Reconciling shareholder return vs. profit maximization 29:15 - Good v. bad market-share 32:02 - Pricing and where does it live 36:00 - The two categories for salespeople. Value sellers and price sellers.  41:22 - Price and its effect on product development 45:00 - Understanding pricing models 52:45 - Subscriptions-based pricing model 56:30 - Customers' willingness to pay 1:05 - Post pod discussion with Marc and V

On this week's episode of the Sleeping Barber Podcast, we are delighted to have on the show two fantastic guests. Jon Evans, Chief Marketing Officer and 'Uncensored CMO' at System1 Group and Orlando Wood, Chief Innovation Officer at System 1 Group. We discuss the theory and practice of effective ads, the impact digital has had on advertising effectiveness while also spending time understanding why left-brain versus right-brain thinking is wrong.  This is an episode you don't want to miss. Enjoy the show! ____________ Our Guests: Follow Jon Evans: https://www.linkedin.com/in/uncensoredcmo/ Follow Orlando Wood: https://www.linkedin.com/in/orlando-wood-6a62946/ Listen to the Uncensored CMO Podcast: https://uncensoredcmo.com/ Follow the System 1 Group: https://www.linkedin.com/company/system1-group/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature and Links: Lemon, the Book: https://www.amazon.ca/Lemon-advertising-brain-turned-sour/dp/0852941471/  Look Out, the Book: https://www.amazon.ca/Look-Out-Orlando-Wood/dp/0852941498/ Lemon Video: https://www.youtube.com/watch?v=XUXYRf5O5T4&t=1031s Look Out Video: https://vimeo.com/646872264 GoDaddy Ad: https://www.youtube.com/watch?v=5Z1nlSDcRSk Yorkshire Tea: https://www.youtube.com/watch?v=ulKeJYl0Hac Barclay Credit Card: https://www.youtube.com/watch?v=xsh0hlnDvKA Tide Ad Analysis: https://www.youtube.com/watch?v=MpyHVXNtOlw ____________ Timestamps 0:46 - Intro to Jon and Orlando 4:14 - The “purpose” of advertising 7:35 - Declining effectiveness of advertising 12:36 - Attention and why left v right Brain thinking is wrong 18:27 - The impact of digital on advertising effectiveness 22:54 - The correlation between Orlando’s work, ad effectiveness and business outcomes 27:50 -  The value of testing creative 32:32 - The negative impact of performance marketing 33:58 - Long-term versus long-lasting effects of brand building 36:19 - Differences between ads built for narrow versus broad beam attention 40:03 - The impact of excess Share of Voice (eSOV) and creative effectiveness 43:38 - Are there bad ads? 44:30 - Can ads have too many messages? 49:07 - Industries leading the adoption of testing creative 53:19 - Channel choices - the importance of attention and reach 57:05 - Do these principles and results apply to B2B? 1:01:49 - Why brand building is effective before Black Friday 1:04:21 - Postpod with V and Marc

In this episode of the Sleeping Barber Podcast, we speak with Sandeep Dayal, author of Branding Between the ears, to discuss how marketers can use cognitive science to build lasting consumer connections. We also dive into the topics of brand purpose, elements of cognitive brands, and saganaki! Enjoy the show. ____________ Our Guest: Follow Sandeep Dayal on LinkedIn: https://www.linkedin.com/in/sandeep-dayal-8361b61/ Branding Between the Ears: https://www.amazon.ca/Branding-Between-Ears-Cognitive-Connections/ Author Page: https://www.sandeepdayal.com/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: Rethinking How To Appeal To Consumers Using Cognitive Science - https://chiefexecutive.net/rethinking-how-to-appeal-to-consumers-using-cognitive-science/  Interview with McKinsey and Company - https://www.mckinsey.com/featured-insights/mckinsey-on-books/author-talks-if-you-dont-understand-how-are-you-going-to-help Timestamps 0:42 – Introduction 2:07 – What is cognitive branding 5:00 – Customer centricity and what does it mean? 6:05 – Brain sciences and their associations with branding 7:40 – How does the brain work? 11:40 – Challenging traditional branding models 17:30 – Fresh-baked cookies and branding 18:15 – Triggers for cognitive branding 19:00 – The three elements of cognitive brands 23:20 – Consumer insights and being in the field makes a difference 24:30 – Vibes, sense and resolve and their associations with consumer trust, consumer confidence and consumer satisfaction 27:40 – Strategy and execution should be treated as one 32:00 – Does brand purpose even matter? 37:00 – Dove’s real beauty campaign 41:07 – Embrace what you are; you don’t always need to have a purpose 45:30 – Key moments that have an effect on brands 50:40 - Brands peak moments – OPA! 52:20 – Surprise and delight 56:14 – Ethics and marketing 1:04 - Post-pod discussion with Marc and V

Budget planning.  These two words can bring back nightmares for many marketers. A daunting task that pins marketers against finance departments in a game of chicken to see who blinks first. We know how difficult this process can be, so we called an expert to help us.  In this week's show, Dr. Grace Kite, Founder and economist, joins us from Magic Numbers to discuss budget planning, channel distribution, and what percentage of total revenue should be allocated to marketing. She also helps us understand the role of econometrics and shares how she really feels about CPA! This is a timely episode that we know you will enjoy. Enjoy the show! ____________ Our Guest: Follow Dr. Grace Kite on LinkedIn: https://www.linkedin.com/in/grace-kite/ Magin Numbers: https://magicnumbers.co.uk/ Magic Numbers Profile: https://magicnumbers.co.uk/people/dr-grace-kite/ Marketing Week Author Page: https://www.marketingweek.com/author/grace-kite/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: Three data-led pointers for marketers during budget season: https://www.marketingweek.com/grace-kite-three-pointers-budget-season/ When it comes to marketing payback, words matter just as much as numbers: https://www.marketingweek.com/grace-kite-marketing-payback-words/ If there was a marketing effectiveness ‘crisis’, it’s now over: https://www.marketingweek.com/grace-kite-effectiveness-crisis/  ____________ Timestamps: 0:40 - Introduction to Dr. Grace Kite 1:30 - What percentage of total revenue should be allocated to marketing? 6:30 - Does the industry impact what percentages of total revenue are allocated to marketing? 9:00 - What is the best way to allocate your budget? 10:30 - Econometrics and channel distribution.   11:50 - The 60/40 rule, budget allocation, and the nuances between offline and online. 14:00 - Excess share of voice and its impact on setting budgets. 17:30 - Market orientation and its impact on budget planning. 20:00 - Budget planning during a crisis. 23:00 - And why testing is important. 26:00 - Reach vs. frequency. 29:35 - Academic research may not be representative of all industries.  31:20 - Online vs. Offline media 38:04 - Did we shift to digital means more than we should have? 40:10 - CPA and why it can be misleading. 44:00 - What is incrementally? 49:00 - When SEM is important 52:36 - The role of econometrics measuring the efficacy of marketing. 54:00 - Defending research and the marketing budget. 57:30 - Defending budgets through the lens of time. 59:40 - Decrease in price sensitivity. How do marketers influence price sensitivity?  1:09 - How to get in touch with Grace 1:10 - Post-pod discussion with Mark and Vassilis

Marketing. It's meant to be at the core of every business, bridging the gap between product and customer. In this episode of the sleeping barber podcast, our hosts Marc Binkley and Vassilis Douros debate if our discipline is at a crossroads. They discuss a myriad of topics covering the lack of identity of our discipline, CMO tenure, and even misguided marketing perspectives. This episode will leave you reflecting on what you, as a practitioner, can do differently and how to better adopt evidence-based decision-making. Enjoy the show. ____________ The Sleeping Barber - A Marketing Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: Special thanks to friends of our podcast, Kantar, for sourcing great literature for us. Creating better briefs - betterbriefs.com How CEOs Grade Their CMOs - Forbes Is The CMO Tenure Narrative Wrong? - Forbes Total Marketing ROI - Kantar The Imperative of Imagination - Kantar Media Reactions 2022 - Kantar The CMO Survey® - London Business School If there was a marketing effectiveness 'crisis,' it's now over - MarketingWeek Look at your brand from the customer's perspective, not the other way round - MarketingWeek Average CMO Tenure Holds Steady at Lowest Level in Decade - WSJ ____________ Timestamps: 0:46 - Intro 2:18 - Marketing has a lack of identity 3:58 - What happened when marketing was led without an executive 6:10 - The "Evidence" why marketing is in trouble: CMO tenure, misguided perspectives, lack of effectiveness 8:14 - The CMO unicorn & the disciplines needed to succeed 11:03 - The merging of CMO and CDO 13:30 - Media Mix Modelling and Multi-touch attribution 15:09 - It's the death of ___ 19:02 - The decline in marketing effectiveness 21:48 - The importance of creative 24:15 - Marketing has zero strategy 26:35 - Briefs and strategy 33:21 - The problem with quick wins 36:45 - Improving our metrics with evidence-based decision making 40:27 - Why do we default to myopic marketing myths? 43:15 - The misguided perspectives in marketing 48:00 - Are we really consumer-centric? 54:48 - The 4 Ps of marketing 57:17 - Conclusion - Is marketing really in trouble?

After a small summer break, we are back to kick off the year's second half with a great guest lineup. In this week's episode, we welcome Jennifer Riel, Partner and Head of Strategy at IDEO, and co-author of Creating Great Choices. We discuss the similarities between Design Thinking and Integrative Thinking and when to use each model. We also touch on the importance of decoupling ideas from the person and get into a case study of the integrative thinking process: Brand Building v. Short Term ROAS. This episode is definitely worth the listen! Enjoy the show! ____________ Our Guest: Follow Jennifer Riel on LinkedIn: https://www.linkedin.com/in/nicole-hartnett/. IDEO Profile: https://www.ideo.com/people/jennifer-riel IDEO: https://cantwait.ideo.com/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: Creating Great Choices: https://www.amazon.ca/Creating-Great-Choices-Integrative-Thinking/dp/1633692965/ TEDx Talk; The Importance of Being Wrong: https://www.youtube.com/watch?v=o_suhntFmqY  Harvard Business Review:  The One Thing you Need to Know About Managing Functions Transcending Either or Decision Making ____________ Timestamps: 0:45 - Intro to Jennifer & using integrative thinking to create great choices 2:30 - Similarities between Design Thinking and Integrative Thinking 7:48 - When to use each thinking model 9:30 - The fundamental question for strategy 12:30 - Why do we need to make time for creating great choices 18:52 - How incentives influence our decisions 23:55 - The cost of failure changes over time 26:45 - How to engage with other people 29:08 - Why we should decouple people from ideas 33:20 - What leaders and executives can learn from kids and Jay Z 39:06 - No judgement: IDEO's rule for brainstorming 40:37 - Why creativity (not artistry) is essential in decision making 43:24 - How to know when to use integrative thinking 49:54 - A case study of the integrative thinking process: Brand Building v. Short Term ROAS 1:07:49 - How to find out more about Jennifer 1:08:32 - Post Pod discussion with V and Marc

In this week's show, we welcome Dr. Nicole Hartnett, Senior Marketing Scientist from the Ehrenberg-Bass Institute for Marketing Science. We discuss the laws of marketing, what happens to brands when you stop advertising, how to build strong brands on distinctive assets, and even spend time discussing loyalty myths. Nicole shares a lot of insights that we know you will find valuable! Enjoy the show! ____________ Our Guest: Follow Dr. Nicole Hartnett on LinkedIn: https://www.linkedin.com/in/nicole-hartnett/. Ehrenberg-Bass Institute: https://www.marketingscience.info/  Marketing: Theory, Evidence & Practice: https://www.amazon.ca/Marketing-Evidence-Practice-Byron-Sharp/dp/0195590295/ref=asc_df_0195590295/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: When Brands Stop Advertising: https://www.marketingscience.info/when-brands-stop-advertising/ Marketers' Intuitions about the Sales Effectiveness of Advertisements:  https://www.researchgate.net/publication/304764587_Marketers'_Intuitions_about_the_Sales_Effectiveness_of_Advertisements How Brands Grow: https://www.amazon.ca/How-Brands-Grow-What-Marketers/dp/0195573560/ref=asc_df_0195573560/ How Brands Grow Part 2: https://www.amazon.ca/How-Brands-Grow-Emerging-Services/ Building Distinctive Brand Assets: https://www.amazon.ca/Building-Distinctive-Brand-Assets-Romaniuk/dp/0190311509/  ____________ Timestamps: 1:00 - Intro to Nicole 3:19 - The difference between repertoire and subscription markets 9:34 - Loyalty myths, the law of double jeopardy & why market penetration matters 13:55 - What influenced our fixation on loyalty 16:14 - Law of buying frequencies: why light category buyers are important 22:55 - Time & the illusion of solely loyal customers 26:29 - Penetration, the sustainable root to growth, is driven by mental & physical availability 29:58 - Proof of physical availability - private label substitutions from retailers 32:08 - Reach versus frequency - why reach is non-negotiable and the diminishing returns of high frequency 35:35 - How accurate are these laws? 41:20 - Ads don’t work on me: what happens when brands go dark 50:40 - Building solid brands through distinctive assets 55:20 - What makes a great ad - the Old Spice case study 1:01 - The difference between creativity and branding 1:04:03 - Why Nike needs to reconnect the Name with the Swoosh 1:05:38 - Brand awareness and category entry points 1:08:44 - How to contact Nicole 1:10:00 - Post-Pod discussion with V and Marc

On this edition of the Sleeping Barber podcast, we welcome Jon Mowat, award-winning content creator and video strategy expert. Initially working as a director at the BBC, he now turns his expertise to helping businesses achieve their objectives through engaging and powerful video campaigns as managing director of Hurricane Media - one of the UK's leading video marketing agencies.  Author of the book, Video Marketing, Create Engaging Video Campaigns to Drive Brand Growth and Sales, we spend time discussing the nuances of video marketing, some of the do's and don'ts and tea towels! It's a great listen we hope you enjoy. ____________ Our Guest: Follow Jon Mowat on LinkedIn: https://www.linkedin.com/in/jonmowat/ Hurricane Media: https://www.linkedin.com/company/hurricane-media/ Link to book: https://www.koganpage.com/product/video-marketing-9781398601147 20% off Promo code: sleepingbarber20 ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Timestamps 0:45 - Jon Mowat Bio 2:08 - A funny story from Iraq 4:01 - What makes video so unique 6:03 - Video across the sales funnel 8:17 - How video has changed 10:45 - How to use video across different touchpoints 13:46 - Video is more than just a TV commercial 16:09 - Where people watch video matters 19:44 - Video marketing planner 21:06 - Don’t waste your money: pre-plan your video shoot 25:08 - Less is more - Emotion, Fact and Action helps brand videos Airbus example https://youtu.be/Bw66ZJR2-8w 28:44 - Which emotion is important for your brand? 31:49 - Why emotion is important in B2B 33:14 - Why does video work 37:48 - How to prioritize the goals of video 42:48 - Why video costs more than email 45:47 - How to test a video 48:44 - Death by committee: how to protect ideas for your video 52:00 - Do you build videos for the channels, the idea or the audience? 55:40 - Do your objectives match your video’s performance metrics? 59:30 - More about Jon discount code: SleepingBarber20 1:01:01 - Post pod with V and Marc

The Sleeping Barber podcast welcomes Graham Staplehurst, Director of Thought Leadership at BrandZ Kantar, and Jorge Alagon, Global Head of Data Science Innovations at Kantar. On this episode, we discuss the 2022 Global Brandz Report and decouple the 'Meaningful Difference Framework.' We also discuss what it means for brands to be salient, meaningful, and different, as well as how they can use the framework to create value. It is a fantastic conversation that we're confident you will enjoy. ____________ Our Guests: Follow Graham Staplehurst on LinkedIn: https://www.linkedin.com/in/gstaplehurst/ Follow Jorge Alagon on LinkedIn: https://www.linkedin.com/in/jalagon/  The 2022 Global BrandZ Report: https://www.kantar.com/campaigns/brandz/global The Meaningful Difference Framework: https://kantaraustralia.com/kantar-millward-browns-meaningfully-different-framework-receives-marketing-accountability-standards-board-accreditation/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Timestamps 0:43 - Introduction to Graham Staplehurst and Jorge Alagon 2:34 - The Brandz Model and tracking the value of brands 4:27 - What is the vision of Brandz? 6:50 - How are brands valued? 9:20 - What makes Kantar's database valuable? 13:20 - What is the meaningful difference framework? 20:00 - What other attributes were considered for the meaningful difference framework? 25:20 - Understanding salience 28:42 - How does emotion stand as an attribute within the meaningful difference framework? 35:00 - Are brands really important? What does neuroscience say? 37:00 - How do brands create value? 39:30 - What are the important attributes marketers should be applying? 47:40 - How do you weigh the meaningful difference attributes against one another? 50:40 - How is 'difference' defined in the meaningful difference framework? 56:00 - The attributes help nudge consumers 56:45 - How actionable are the three core attributes? 01:00 - How to think about being meaningful as a brand 01:01 - Are there nuances between B2B and B2B industries? 01:09 - Post pod discussion 

In this episode of the Sleeping Barber, we welcome to the show Ty Heath, Director, Market Engagement at the B2B Institute at LinkedIn, where we discuss the contrarian matrix, the future cash flow model, the importance of content and emotion in B2B marketing and so much more.   While the focus of the discussion revolves around B2B, Ty shares a lot of great information that can apply to B2C as well. Enjoy the episode! ____________ Our Guest: Follow Ty on LinkedIn: https://www.linkedin.com/in/tyronaheath/. Research from the LinkedIn B2B institute: https://business.linkedin.com/marketing-solutions/b2b-institute Get more information on Ty Heath: https://tyronaheath.com/. ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/  Get in touch with our hosts:  Marc Binkley: https://www.linkedin.com/in/marcbinkley/  Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Timestamps 0:41 - Introduction to Ty Heath 1:48 - A little on the LinkedIn B2B institute 4:32 - The contrarian matrix and the value to businesses 6:35 - How to succeed in B2B marketing 9:00 - What are the blind spots for marketers? 11:43 - What is performance marketing? 12:40 - Does the orientation of a company change how it performs? Marketing vs. Sales. 16:16 - Orienting a team around the consumer decision journey. 17:14 - Where does brand live in a B2B organization? 22:45 - Marketing and Sales teams, how do they play nice? 26:20 - Creating shared outcomes, why is it so difficult for organizations? 28:42 - The Finance department and how marketers can make a greater impact. 31:43 - Storytelling internally. 33:35 - Future cashflow model. 38:40 - The importance of content and emotion in B2B marketing. 44:28 - What marketing trends should marketers lean into? 46:49 - Post Pod discussion