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Business Consulting For The 21st Century Via A Holistic & Intelligent Approach

What Sticks – Chapter 17

Consumed => “What Sticks – Chapter 17 (The Critical 10-Percent Factor)” by Rex Briggs and Greg Stuart.

This is the last chapter. I’ll do a summary post next week. In all likelihood that will be on Alchemy United. Naturally, I’ll make mention of it here.

— Marketers won’t get any stronger by simply lifting the same empty bar again and again. Marketers need to challenge themselves.

— Our advice to marketers: Make a list of marketing ideas that have merit but haven’t been execture yet. Challenge yourself and your team to try new ideas. Go outside your comfort zone.

— How a brand handles the 10 in the 70 / 20 / 10 allocation strategy is really where your big opportunity occurs to accelerate growth and really begin to shift your market share.

— Don’t put off the 4th M, maximization, until the first three are perfect. Instead use maximization today. Value add: The fact is, perfect should never happen. Don’t expect it. Don’t wait for it. Just keep constantly reevaluating. Constantly ask, “How can be make this better?”

— The innovations may be trying new media, better tapping into motivations, or developing superior messages.

— Maximization is not simply “blowing” 10 percent on the unknown; it’s systematically learning how new approaches to marketing and advertising can improve ROI.

— Because the future ain’t what it used to be, be disruptive.

— Look for scalable ideas, that is, ideas that are easily expandable on demand.

— Try all these ideas. And most important: measure them. Value add: Amen! And be granular. X number of views on YouTube is meaningless. Nice to know. Great for impressing the boss. But ultimately such a measurement in and of itself doesn’t have much value. The question is: what did that result in in terms of ROI?

— All Google employees devote 20 percent of their time to innovation. Value add: This is true but in many cases it’s just not practical. Yes, it’s an ideal to shoot for. But given how well capitalized they are, and how easy it is for them to scale an idea such an investment makes sense. Or does it? It’s still pretty early in the game of them.

— Innovation without measurement is worthless. The two most important questions for any innovation are these: “What is success?” and “What are the action standards if the new program achieves success?”

— Find effective, then make it efficient.

— Sometimes you put you 10 percent toe in, it’s warm and you dive in further. Other times, it’s cold and ineffective. Learn your lessons and move on.

— Innovation isn’t just the message, or the media mix; it might be the underlying budgeting process and rules.

— After the fact, bad ideas are easy to spot! Looking forward though, a crummy idea and a potential game-changing master stroke look kind of similar. That’s why it’s so important to get the theory of innovation right.

— Your 70 / 20 / 10 allocations should change over time.

— It’s disconcerting (if not outright insane) for people to think that intuition along can deliver effective marketing plans and systematic innovation.

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