Sleeping Barber - A Marketing Podcast

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

The importance of 'brand' cannot be understated, while at the same time, the most significant barrier for marketers is budget. But what if we would tell you that you can build a brand with a small budget? In this episode of the Sleeping Barber, we welcome Faisal Sidiqqui and Ian Barnard to discuss their marketing guide on building a big brand on a small budget. It's a conversation that you won't want to miss. Enjoy the episode! ____________ Our Guests: Follow Ian on LinkedIn: https://www.linkedin.com/in/ian-barnard-76a76251/ Follow Faisal on LinkedIn: https://www.linkedin.com/in/mfaisalsiddiqui/ Get more information on their company: https://creativebusinesscompany.com/ Get your copy of Brand building on a small budget: https://creativebusinesscompany.com/big-brand-small-budget ____________ 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 0:38 - Introduction to Faisal & Ian 3it's- Why the marketers should care about the 5:95 rule 5:45 - Why it’s hard for marketers to think about balancing short and long term results 8:33 - Why do small companies struggle with brand building commitments 9:49 - Brand marketers are partlydon'tlame for lack of confidence 12:44 - Emotional brand campaigns don’t have to make people cry 18:49 - Bothism matters for successful marketing 20:55 - Brand marketers often fail to articulate the value of brand marketing 21:58 - Brand marketers should learn more about performance marketing metrics 25:30 - Better metrics for brWhat'srketing 30:30 - Why video is helpful for small brands 33:21 - What’s the right length of a video? 37:56 - Unlocking value - how to build brand videos affordably 39:47 - the evolution of video from snackable short format to long format 41:17 -  An abundance of digital video inventory creates many opportunities 42:48 - How the 2-4-5 content framework links to the stages of the funnel 44:55 - Brand performance is not an oxymoron 46:57 - Case Study: An example of a brand performance video at work 48:31 - Case Study: Brand performance video metrics 54:50 - Post-Pod discussion with V & Marc

We welcome to the show Dan White, author of two books, 'The Smart Marketing Book' and 'The Soft Skills Book.' We discuss our careers and how we've adapted throughout the years while also covering the importance of soft skills that can make you a successful marketer. We finish off our conversation by bestowing advice to our younger selves. We hope you enjoy this episode! ____________ Our guest: Follow Dan White on LinkedIn: https://www.linkedin.com/in/danwhite1000/ Get your copy of The Soft Skills Book: https://www.amazon.ca/gp/product/1911671545/  You can get more information on Dan's work below: https://smartmarketing.me ____________ 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 - Introductions 03:45 - How did this idea come about. 05:11 - How did we get to where we are today. 12:50 - How to choose your career.  15:30 - Have you ever made a decision based on money? 21:24 - What are the soft skills that have helped you the most? 32:43 - The principles of good visual design 35:00 - The sales funnel 39:25 - What information should marketers spend time becoming more familiar with? 57:00 - Learning and development, how much is this on you or the company's responsibility? 1:04:30 - What has been your motivator to seek more? 1:08:40 - One piece of advice to your younger self.

Episode 6 is here and it's a special one for us. In this episode of the Sleeping Barber Podcast, we welcome back Roger Martin and discuss his latest book 'A New Way to Think.' We cover many topics like cumulative advantage, understanding human behavior, while discussing frameworks that can help build organizations that thrive. We are really excited about this episode, and we think you will really enjoy this one! ____________ Follow Roger Martin on LinkedIn: https://www.linkedin.com/in/roger-martin-9916911a9/ Get your copy of A New Way to Think here: https://www.amazon.ca/New-Way-Think-Management-Effectiveness/dp/164782351X/ 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  0:42 - Quick Introduction to “A New Way to Think”  3:15 - Introduction to Roger  6:00 - Are we thinking about customers the right way?  10:02 - Learning to ask the right questions that inform strategy.  15:17 - Understanding Cumulative Advantage  22:00 - Making decisions based on loyalty vs. habit. The role of the subconscious.  28:37 - Understanding human behaviour in marketing  32:47 - Strategy - Planning - Execution vs. strategic planning.  38:47 - Strategic planning. How often?  41:05 - What counts isn't what's true. It’s what would have to be true.  46:00 - How to de-risk your campaigns  50:14 - Identifying problem statements vs. choice outcomes  54:58 - Creating discipline by identifying “what has to be true.”  59:35 - Knowledge work and decision factories  1:07 - Post-Pod discussion with V and Marc