The new TV bundle – Nielsen

Much has been said about the impact of streaming on the way audiences engage with TV, but the extent is no better exemplified than by the behavior of audiences in TV homes who don’t pay for cable or satellite programming. A specific subset of these homes, which rely on a digital antenna for free, over-the-air (OTA) programming, watch the most broadcast programming of all U.S. TV households, but that’s starting to change. 

The significant amount of broadcast TV viewing within these homes certainly isn’t surprising, given that’s what digital antennas provide access to. These former broadcast programs are now more connected and OTT content has become more popular. This is allowing them to balance their TV programming with sports and news.

OTA home viewers still see more broadcast programming that those who have broadband or cable plus, but they are less likely to be able to access it.¹Television households are now watching less TV than ever before (1:54 per person per day in 2017 vs 2:25 in 2018). They also watch streaming video in addition to their TV viewing. The fact is that OTA households now stream more content than viewers in homes with satellite or cable programming.

Despite the shifting behavior of viewers, the remarkable stability that this segment of U.S. television households enjoys is perhaps the most striking. Although the proportions of cable and broadband households has changed dramatically in the last few years, the OTA home percentage is still very steady. In fact, it’s actually increased.

Despite having a broadcast focus, audiences who watch OTA content are shifting to streaming, which is mirrored the changing viewing behavior of viewers in OTA homes. A recent survey by SME TV found that streaming content is moving to the forefront.²80% of OTA home viewers also say that they subscribe to a streaming provider. Over two-thirds (65%) of those who have access to both OTA and streaming content say they view more streaming than broadcast.

SMETV panel data indicates that OTA home without additional SVOD and virtual multichannel programming distributor (vMVPD), services is on the decline. These OTA-only households have a median age of 61, compared to 45 in those that receive SVOD or vMVPD and 49 with SVOD.

Many OTA households have always had to consider cost when streaming. In fact, half of those surveyed said that they watched ad-supported, free streaming services. This is twice as many TV viewers who watch other options such as satellite or cable. Just 70% of OTA audience members say they pay less than $100 per month to watch their television programming. But when asked about the features they look for most in TV service, OTA audiences rank “ad-free” and “ad skipping” at the bottom of their priority lists, presenting significant upside for brand advertisers.

Two key principles remain constant despite the evolution in TV viewing.

These stables provide stability and opportunities for the OTA marketplace, given what is known about OTA audiences. They are more likely to watch local news (both national and local), sport and daytime TV, than others, and their streaming consumptions are expanding. 

But all TV audiences love news and sports programming, which is where the opportunity is for broadcasters, largely because many audiences don’t know enough about the OTA options in their areas, or how to access them. Among the audiences who said they aren’t likely to buy a digital antenna, 35% said it was because they don’t know what channels are available to them. 60 percent of non-OTA audience members were asked if it would make sense to invest in an antenna if broadcast TV was available for free.

Notes

1. The cable plus home is one that allows you to view television programs via a satellite, cable or telco provider.
2. SME TV’s consumer survey was carried out in English only from March 9-24 2022 via an online survey. The survey was conducted on 1,500 U.S. adult 18+, who use TV in their homes.

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A Twitter Poll About Trusting Elon Musk Versus Alexandria Ocasio-Cortez Went Sideways Really Fast

NEW YORK (NY), APRIL 24, 2018: Rep. Alexandria Ocasio Cortez (D–NY) addresses a rally for the Amazon Labor Union … [+]On April 24, 2022, in New York City.Sen. Bernie Sanders (I-VT), Rep. Alexandria Ocasio-Cortez(D-NY), visited Staten Island to visit workers who had organized the first union in an Amazon facility. (Photo by David Dee Delgado/Getty Images

Getty Images

Sometimes it’s not always obvious and predictable. Not so evident.

One example? Conducting a poll which challenges your opinion.

A writer from Occupy Democrats recently conducted a tweet poll to find out whether Elon Musk is more trusted than Rep. Alexandria Ocasio Cortez.

The poll included a comment that said: “Let’s prove how phony the right’s ridiculous polls are by doing one of our own” with the assumption that the results would be obvious. Here’s the poll:

However, the results were quite shocking.

Elon Musk was the winner by more than 81%, with AOC only receiving about 19%. Some comments revealed a lot, as many Twitter users pointed out how inaccurate the voting was or how Elon Musk’s followers tilted favorably.

The poll became somewhat predictable when Elon Musk commented. (The original poster called Elon Musk an affable parody.

These polls, which can be found on Twitter or elsewhere, are becoming a little tiresome. I’ve seen them more and more on LinkedIn, and it always makes me wonder how valid they are since you don’t really know how anyone is finding the poll or who is voting.

I suspect Musk followers did actually flock to this one, given that he has so many hardcore fans, and perhaps AOC fans didn’t even notice.

And then there’s another possibility.

Also, I suspect that people who answered Twitter polls are more tech-oriented and innovative, and would therefore find entrepreneurs to be trustworthy. Especially if they have helped to build several companies or seem to attract many acolytes. AOC has an enormous fan base, but she has not made a mark in tech. It’s possibly the exact opposite, as she tends to downplay and criticize the importance of Big Tech.

Although most of these polls are supposed to be enjoyable, the one that was posted here took an unfortunate turn. The original poster even admitted that it was “a loss” and decided to keep the poll up in his feed.

There was at most 375,000 responses which is quite a large sample. I’ve seen Twitter and LinkedIn polls with only a few hundred responses, which makes you wonder if they were mostly friends of the person conducting the poll.

Are polls a passing fad? This is what I think. The first thing that I think about when I look at the results is the person who decided the words of the questions, as well as who took part in it. Are the results valid?

This poll proves Elon Musk’s popularity, I believe.

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Original source: https://socialmediaexplorer.com/content-sections/news-and-noise/a-twitter-poll-about-trusting-elon-musk-versus-alexandria-ocasio-cortez-went-sideways-really-fast/

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Weekend Favs May 28

Weekend Favs May 28 written by John Jantsch read more at Duct Tape Marketing

My weekend blog post routine includes posting links to a handful of tools or great content I ran across during the week.

I don’t go into depth about the finds, but I encourage you to check them out if they sound interesting. The photo in the post is a favorite for the week from an online source or one that I took out there on the road.

• Keyword Insights AI – is a fast and easy way to discover precisely what people are looking for online. Helping you to analyze the popularity and opportunity of keywords that are relevant to your business.
• Community CXL – Marketing can be a difficult field to get into and one that is constantly changing. CXL helps new and expert marketers learn on the job with their community-driven education platform.
• Uprise – Personalized online wealth management. Uprise recommends the best financial options for you based on your personal financial goals (credit cards, investment opportunities, loans, benefits) and helps to keep you on track with real human experts reviewing your portfolio.

These are my weekend favs; I would love to hear about some of yours – Tweet me @ducttape

Original source: https://ducttapemarketing.com/weekend-favs-may-28/

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from Connect Social Networks http://connectsocialnetworks.com/weekend-favs-may-28/

Twitter Will Keep An Elon Musk Ally On Its Board—Even Though Shareholders Rejected Him

NEW YORK – JANUARY 2007: Egon Dabur, Co-Ceo at Silver Lake, is present at PBR Unleash The Beast at Madison Square Garden in New York City on January 7, 2022. Photo by Cindy Ord/Getty Images

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Twitter will let Egon Durban, the co-CEO of Silver Lake, keep his board seat even though shareholders turned down his reelection at the company’s annual meeting. His time on the board pre-dates Elon Musk’s arrival, dating back to an earlier entanglement with another unsolicited investor. But, in the past, Durban has been a close Musk confidant, and the company’s decision to keep him is a reminder of the complex machinations—and personalities—involved in the highly public fights over Twitter’s future during the last several years.

Twitter believes Durban lost the election because of a shareholder advisory firm’s recommendation against him, not because of his relationship with Musk, the company says in a new SEC filing. That firm, ISS, recommended Twitter shareholders reject him in the meeting on Wednesday because Durban’s got a lot going on. Six corporate boards are his total. In a new agreement with Twitter, he promises to cut back on those demands for his time—by leaving…one of the other boards and vows not to serve on more than five boards in the future.

The filing also makes it seem like Twitter worried Durban’s departure might violate its agreement with Elliott Management, the activist-investing firm that bought a stake in Twitter 2020. Perhaps it will irritate Elliott Management, an ex-adverse party that Twitter tried to reconcile. To end the campaign against Jack Dorsey and Twitter, it struck an extensive deal with Elliott. One of the provisions was that Elliott received several seats on boards, including one to Durban/Silver Lake.

“The Board considers Mr. Durban a highly effective member and believes that he brings to the Board an unparalleled operational knowledge of the industry, a unique perspective, and an invaluable skill set and experience with mergers and acquisitions,” Twitter says in a new SEC filing. Durban’s Silver Lake is a massive tech-focused private equity firm with nearly $90 billion in assets under management. It has done things like help fund Michael Dell’s 2013 leveraged buyout of his PC company—as well as counsel Musk around his plans to privatize Tesla in 2018, the concreteness of which remains an unanswered question. Musk now suggests that he might buy Twitter for as high as $44 billion.

Here’s Twitter continuing to give Durban high marks on his report card: “The Board noted that Mr. Durban has strengthened its ability to oversee the Company’s long-term value creation strategy and effectively govern its implementation. Further, Mr. Durban is consistently well-prepared, engaged and a meaningful contributor to Board meetings and discussions.”

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Original source: https://socialmediaexplorer.com/content-sections/news-and-noise/twitter-will-keep-an-elon-musk-ally-on-its-board-even-though-shareholders-rejected-him/

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How To Market Your Stores Registry To Brides

When it comes to marketing your store’s registry to brides, there are a few key things you’ll want to keep in mind. First and foremost, remember that the registry is all about the bride and her needs. She’s the one who will be using it, so make sure your marketing materials reflect that. Secondly, focus on creating a registry that is both comprehensive and user-friendly.

A good registry should include items from various categories so that the bride can easily find what she’s looking for. And lastly, don’t forget to promote your registry! Use social media, email marketing, and even traditional advertising methods to ensure brides know about your store’s registry and what it offers.

Your wedding registry should be easy to navigate and showcase all your top products.

Creating your wedding registry checklist can be a daunting task. There are so many products to choose from it can be hard to know where to start. Thankfully, some tips can make the process easy and manageable. First, make sure your registry is easy to navigate. List all of your top products prominently and group similar items together. This will make it easier for guests to find what they want and help them avoid duplicates.

Additionally, be sure to showcase all of your favorite items, not just the basics. This will give guests a better idea of what you really want and need. With these tips in mind, you’re sure to create a wedding registry that will make everyone happy!

Use social media to reach out to engaged couples and promote your registry services.

Social media is a great way to reach out to engaged couples and promote your registry services. Use platforms like Twitter, Facebook, and Instagram to share information about your business and what you have to offer. Make sure to use hashtags and post engaging content that will capture the attention of your target audience. Additionally, consider running social media ads targeting engaged couples in your area. With a little effort, you can reach a large number of potential clients and cost-effectively promote your business.

Collaborate with local wedding planners and boutiques to get more exposure for your business.

If you want to get more exposure for your business, consider collaborating with local wedding planners and boutiques. This is a great way to reach out to potential clients and promote your services in a personal way. You can offer discounts, hold events, or simply provide information about your business and what you have to offer. By collaborating with other businesses in the wedding industry, you can reach a wider audience and make a name for yourself in the local community.

Offer special discounts or bonuses to couples who register with you.

One of the best ways to attract couples to your registry is to offer special discounts or bonuses. This is a great way to show your appreciation for their business and encourage them to choose your store over others. You can offer a discount on their total purchase, give them a free gift, or provide other incentives that will make their experience with your business more enjoyable. Whatever you decide, be sure to promote your offer in a way that will reach your target audience.

Keep up with industry trends and changes to offer the best possible service to your clients.

The wedding industry is always changing, so it’s important to keep up with the latest trends. This will ensure that you’re always offering the best possible service to your clients. Consider attending industry events, reading trade magazines, and following wedding blogs to stay up-to-date on the latest trends. Additionally, be sure to ask your clients for feedback so you can constantly improve your business and better serve their needs.

Final Thoughts

By following these tips, you can market your store’s registry to brides and ensure that you’re providing the best possible service. You can reach a wide audience and grow your business with a little effort.

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Original source: https://socialmediaexplorer.com/content-marketing-2/how-to-market-your-stores-registry-to-brides/

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from Connect Social Networks http://connectsocialnetworks.com/how-to-market-your-stores-registry-to-brides/

Transforming The Dental Industry One Smile At A Time

Transforming The Dental Industry One Smile At A Time written by Sara Nay read more at Duct Tape Marketing



About the show:

The Agency Spark Podcast, hosted by Sara Nay, is a collection of short-form interviews from thought leaders in the marketing consultancy and agency space.

Each episode focuses on a single topic with actionable insights you can apply today.

Check out the new Spark Lab Consulting website here!

About this episode:

In this episode of the Agency Spark Podcast, Sara talks with Dr. Ingrid Murra on transforming the dental industry one smile at a time.

Dr. Ingrid Murra is the 48th Latin woman to secure over $1,000,000 Venture Capital funding in the history of the United States, a Harvard-trained orthodontist, and the founder & CEO of the orthodontic startup, Two Front.

Two Front has modernized orthodontic care by providing a trusted network of best-in-class orthodontists and by making care convenient with virtual visits – eliminating up to 95% of in-person Invisalign appointments.

More from Dr. Ingrid Murra:

• Two Front Website 
• Instagram

 

 

This episode of the Agency Spark Podcast is brought to you by Termageddon, a Privacy Policy Generator. Any website collecting as little as an email address on a contact form should not only have a Privacy Policy but also have a strategy to keep it up to date when the laws change. Click here to learn more about how Termageddon can help protect your business and get 30% off your first year payment by using code DUCTTAPE at checkout.

Original source: https://ducttapemarketing.com/transforming-the-dental-industry/

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from Connect Social Networks http://connectsocialnetworks.com/transforming-the-dental-industry-one-smile-at-a-time/

How To Create Powerful, Uncopyable Experiences For Your Target Customer

How To Create Powerful, Uncopyable Experiences For Your Target Customer written by John Jantsch read more at Duct Tape Marketing

Marketing Podcast with Steve Miller

In this episode of the Duct Tape Marketing Podcast, I interview Steve Miller. Meetings & Conventions Magazine calls Steve Miller the Idea Man for his unconventional, edgy, no-spin approach to marketing and branding. He is the author of the Amazon #1 bestseller, “UNCOPYABLE: How to Create an Unfair Advantage Over Your Competition.” Steve’s speaking and consulting clients have ranged from entrepreneurs to Fortune 100 corporations, including Proctor & Gamble, Greystar Real Estate, Caterpillar, Boeing Airplane, Starbucks, Philips Electronics, and the prestigious TED Conference. We’re talking about his latest book — Stealing Genuis: The Seven Levels of Adaptive Innovation.

Key Takeaway:

Improvement is not innovation and innovation is essential if your aim is to survive in today’s business environment. Fixating on improvement in today’s world is a dangerous path—one that ultimately leads to commoditization and irrelevance. In this episode, I talk with author, Steve Miller, about innovating in today’s business world by creating powerful, uncopyable experiences for your target customer.

Questions I ask Steve Miller:

• [2:34] What does ‘Stealing Genuis’ mean?
• [6:29] What is adaptive innovation?
• [9:39] How do you advise people?
• [14:43] What are some of the ways to know if something innovative is going to be a big risk and not turn off customers?
• [16:23] Do you have a couple of examples of companies that you think are just routinely good at innovation?
• [19:06] Where can more people find out about you and your work?

More About Jack McGuinness:

• Get a copy of his book — Stealing Genuis: The Seven Levels of Adaptive Innovation

Take The Marketing Assessment:

• Marketingassessment.co

Like this show? Click on over and give us a review on iTunes, please!

Duct Tape Transcript

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John Jantsch (00:00): This episode of the duct tape marketing podcast is brought to you by the female startup club, hosted by Doone Roison, and brought to you by the HubSpot podcast network. If you’re looking for a new podcast, the female startup club shares tips, tactics and strategies from the world’s most successful female founders, entrepreneurs, and women in business to inspire you to take action and get what you want out of your career. One of my favorite episodes, who should be your first hire what’s your funding plan, Dr. Lisa Cravin shares her top advice from building spotlight oral. Listen to the female startup club, wherever you get your podcasts.

John Jantsch (00:49): Hello, and welcome to another episode of the duct tape marketing podcast. This is John Jantsch, my guest today’s Steve Miller meetings and conventions magazines calls him the idea, man, for his unconventional edgy, no spin approach to marketing and branding. He’s the author of the Amazon. Number one best seller UN copyable. How to create an unfair advantage over your competition. He speaks in, uh, his speaking and consulting clients have ranged from entrepreneurs to fortune 100 corporations, including Proctor and gamble, gray star, real estate, caterpillar, Boeing, airplane, Starbucks, Phillips electronics, and the prestigious Ted conference. Today. We’re gonna talk about his latest book, stealing genius, the seven levels of adaptive innovation. So

Steve Miller (01:38): God, thank you for that. When having me on to talk about this, this is great. I, you know, I mean, I think I’m pretty sure no, this is how authors work, right. But my book went to number one, which was for a brief period of time. okay. You and I both on top of it again sure. That I knocked you off the best seller list for like two or three days, you know, then you immediately just jumped right back.

John Jantsch (02:07): Well, that is good to know. And then listeners won’t won’t know this, but this is our second attempt at this interview because we had a technology glitch. And so Steve was kind of kind enough to come back. There’s I, and, and I, you know, if you were to listen to the other recording, just know that it would not be the exact same thing. I, I suspect because I never know what a questions I’m gonna ask. And I know Steve, has you

Steve Miller (02:29): No idea what Steve has no idea. I,

John Jantsch (02:34): So, so I do wanna start by unpacking the, just the ti the words or the, that you use in the title. So in two cases, the first one, stealing genius, maybe give us a definition of, of that

Steve Miller (02:45): Going well. This if, to try to unwrap it as quickly as possible that the Genesis of this is that too often, businesses doesn’t matter what size business you could be, a, a single person, entrepreneur, you know, or, you know, a fortune 500 company too often. They get fall into the trap of paying too much attention to the competition, too much attention to the world within their world. Okay. And as, as such, you see an awful lot of dare. I say, incestuous behavior among companies, you know, they copy each other. They might try to improve upon somebody else’s idea, but they kind, that’s kind of how they come up with their future plans for, oh, we’re just, we’re gonna get better than the competition. We’re gonna get better than the competition. Well, many years ago, my father, Ralph Miller and his cohort and crime bill Le of li jet, they got together and came up with this concept that they, they deemed the eight track tape player.

Steve Miller (03:54): Okay. So yes, my dad was part of that world. now the reason I bring that up is because while they were planning on building this product, ultimately after a lot of, of starts and stops and stuff like that in various locations, they ultimately ended up in Japan trying to build this product over there. Now this is back in the sixties. And when you think of the, when you think of made in Japan, back in the sixties, for the most part, it was kind, you know, they were known for those little umbrella straws, you know, things that would go into your drinks, you know, it would open and close. And they, and there was an American consultant who got in with Toyota and his name was w Edwards, ding and Deming was really the precursor or one of the guys that kind of got the total quality thing moving well.

Steve Miller (04:44): So, right. So my dad and bill Le knowing they had to build a quality product in Japan, they brought him in to be part of the team. So, and then my dad, who, now this, I don’t wanna get into a discussion with my dad, but he decides that the way to spend quality time with his young teenage son is to drag me along and fly me to go to hang with these guys, right? Oh, that was a blast. And, but one of the things I remember was that DMing was very, this guy was really a pound the table, kind of a guy, right. When he got really, and, and the thing that he got really big about was benchmarking. Okay. Because that’s essentially what we’re talking about. When we say that, that we, as companies tend to look at our competition, we tend to look within our world.

Steve Miller (05:41): We are benchmarking is what we’re doing. Okay. Now D ding called that intrinsic benchmarking where you were benchmarking in your industry, but he maintained that in order to think creatively, that was a mistake. You were not gonna come up with new ideas by just studying the competition. You were gonna come up with new ideas by going outside your world, outside of your natural, uh, environment and go study aliens. And he called it extrinsic benchmarking, and I call a call it stealing genius. So, so that’s where, that’s the Genesis of where it all came from. It all started hell of a long time ago.

John Jantsch (06:29): so, so, so let’s, uh, unpack this other term then. So stealing genius really essentially comes down to looking for ideas that you can apply to your business, your industry in maybe unusual places. So then it’s a matter of, and, and the book really then comes up with these seven levels of how to think about it, of adaptive innovation. So, so, and

Steve Miller (06:52): So an adaptive innovation is really a it’s, it’s really the how to do it of stealing genius is that you go out and, you know, like I say, I talk about seven different levels of, of Ben benchmarking, petty them. And you look for people, organizations, companies who are not part of your world. Right. And you go stuck. Geez, what are they really good at? Okay. And you look for the genius in those people, and then you ask yourself, okay, is that something I can actually steal? And that’s where you, you’re answering the question. Is that an innovative idea in my world that I can adapt? All right. Cause you know, I mean, you can go study, you know, companies and people in other industries and they’ll have great ideas, but you’ll never, you just won’t be able to figure out a way to use them.

Steve Miller (07:41): So it has to be an innovative idea that you can adapt back into your industry. So, so to just say, you know, as just a simple example, like if you are in the high tech industry right now, then I would be telling you, go out and study the food industry, go out and study, you know, reader, industry, go detail, go out and study, you know, some AIAN high tech is using it, right? So at restaurants, you know, and ask yourself, is there something out there that we can steal and bring back to high tech? And nobody’s UN copyable hard, nobody in high tech is approaching anything like that right now. And if you do it right, you can actually create a situation that, you know, from my previous book is, is hard to copy.

John Jantsch (08:25): And now let’s hear from a sponsor, look, you’ve worked hard to grow your business and finding CRM software. You can trust to help grow it even more. It isn’t easy, whether you’re starting out or scaling up, HubSpot is here to help your business grow better with a CRM platform that helps put your customers first. And it’s trusted by enterprises and entrepreneurs alike with easy to use marketing tools like drag and drop web page editors that require no custom code content strategy tools, where you can create topic clusters that automatically link supporting content back to your core pillar pages to ensure search engines can easily crawl your site and identify you as an expert on any given topic. HubSpot helps your business work smarter, not harder, learn how your business can grow better@hubspot.com. So, so one of the things that I think is probably difficult, I don’t think anybody listening so far is like, oh, that’s a dumb idea that, that, I mean, I think everybody pretty much agrees with yeah, that’s, we’ve all seen that in our lives. Maybe you’re in some business innovation where everybody was like, that’s brilliant, but they really just brought it from somebody else who was doing it. So how do you advise people? I mean, I sure the first question a lot of people ask is, well, where do I look? You know, how do I get started?

Steve Miller (09:47): Well, you know, and with the Lev, the seven levels, you know, I try to take it from like the easiest way to start, you know, do I want to innovate right. And up to the most complicated and the easiest way to start is, first of all, is ask yourself just a question. Like, like, okay, what do I wanna, what I’ll, I’ll use an example of, uh, of, um, let you know, trade shows, for example, you know, one of the, one of the biggest issues with trade shows that the, the producers of trade shows, you know, they have to go out and they’re finding exhibitors who are spending a lot of money to come in and buy these booth piles. Well, one of the biggest challenges for the build these booths and, and spend that money, and then they have to attract people to come to walk up and down the ERs is they want those people to walk every single aisle, right.

Steve Miller (10:35): Because they want them to get in, to go buy all those people who are spending money. So if you ask the question, how do we get people to walk the aisles? Right. Well, that’s so let’s say that’s the project. That’s, that’s the question. So you ask, now the question you ask yourself is okay, who to that is not in the trade show. World is really good at forcing people walk and, and the number one example, the biggest example of all are supermarkets. Okay. It’s the food industry, but supermarkets are brilliant. They are genius at forcing you to travel as many aisles as possible before they will let you out. okay. You get your cart. That’s right. And, and like, just like the simple question, where is the milk in the supermarket? It’s as far away from the front door as it possibly can be, because everybody’s gonna, everybody’s got milk on which means you have to go their list.

Steve Miller (11:44): Right? So, so they’re gonna make you go as far away as possible. And they’re, you know, up and down aisles or around the corner or some different stuff like that. So that is, and trade shows by default historically have always put the milk in the front of the front of the hall. When you go into a big trade show for the most part, the biggest exhibitors, the ones who are the destination ex they’re, like anchor stores at a mall. Okay. They are making, they let you walk in and boom, you walk right in. Well, smart trade shows that, and I’ve consulted for a number of really big, you know, the top put the milk in the back of the hall hop shows in, in, in the country. You know, you finally get them to understand, no, you, you they’re the milk, right. They’re still gonna get every single person into their booth, but, but the people have to travel to get to them. So that’s see, that’s an example of it’s where you start at that kind of level level one where you define, find the, define the objective, and then you go out and you ask yourself who is doing this. That is an alien in, in our world.

John Jantsch (12:54): Yeah. So I think that the key to that as I’m listening to you is it’s not just a matter of going out and saying, oh, that’s different. We could do that. It’s really, I think first you have to look inward, you know, what is our industry doing? What does everybody do? What does common practice and really start then saying, how can we, you know, Zig let’s go look for a Zig. That would make

Steve Miller (13:16): Sense. Yeah, absolutely. I mean, we’ve all heard. And I use the term map, the experience. I mean, you know, the customer journey, I mean, everything like that, but you know, those of us that are the consult, you know, we have these conversations with our clients and we talk about all these things. And then what I do is as we map the experience of the customer and go through all the touch points that they might have, then what I do is I, I, one by one, we go through the touch points. So we say, okay, is this something that we can change? You know, or do we have to just keep doing it the same way everybody else is doing it right now, if it’s, you know, let’s ask ourselves that question, you know, how do we make somebody travel? You know? And that might be the big question, but you do it with every, you know, every opportunity that you have, you look for a way to ask the question, is this something that we can do differently?

Steve Miller (14:05): You know, now, but even when you say, well, you know, you know, we, we could go look at companies and oh, look what they’re doing. Well, that’s actually one of the levels. Okay. But mm-hmm, before you get to, before you get to the point where you just go look at a company and say, gee, what are they really good at that, you know, you kind of wanna go through these other levels. So you get in your mind and you get yourself thinking in terms of what do they do, great that I can steal and use back in my

John Jantsch (14:31): Work. So one of the things that I, you know, a lot of pushback from companies, why they don’t innovate is because will it work? Nobody else in our industry is doing it. You know, it’s almost like a fear to try. So what are some of the ways that, that somebody can, this is probably two questions, but first know how something know that something’s going to work is not gonna be a big risk. It’s not gonna turn their customers off.

Steve Miller (14:55): Well, I think the first thing to ask yourself is do people buy from you because you’re similar to the competition. and yeah.

John Jantsch (15:05): And yeah. And in fact, jump in, push back more. I would guess a lot of people would say, well, not necessarily because of that, but they have a certain expectation, you know, of how they’re gonna be treated, say in

Steve Miller (15:17): The industry life. I know if their expectation for you is the same as for everybody else, you know, then, then we run into the problem and you, and I both know where this ends up, this ends up with, you know, first of all, everybody’s product is quality. Everybody has high quality products today, everybody right. Says they have the best customer service on the planet. Everybody says that. Okay. Right. And if everybody has the best product and you know, and essentially in most industries there, it’s, they’re commoditizing now, you know, that’s the way technology is working. And the second thing is, if everybody says they have the best customer service, well, the customer, no, you know, the customer never buys similarity. The customer always finds a difference. And if they can’t find it between the product or the service, it comes down to price. And I I’m, I’m saying to people, if you wanna compete on price, then I’m not your consultant. no question about it.

John Jantsch (16:15): Yeah. Well, there’ll always be somebody willing to go out of business faster.

Steve Miller (16:18): That’s right. Chase that to the bottom. That’s exactly right.

John Jantsch (16:21): do you have a couple examples of companies that you think are just routinely

Steve Miller (16:27): Good? Oh, well, you know, but the, and of course, yes, they they’re, they’re the obvious answers. Right. You know, the Disneys, you know, the, you know, the apples and, and groups like that. I mean, I love to look at companies that are not huge, that are doing things that are just wicked, you know, wicked different. I have a client who they build those, you know what, like if you go into a auto body shop or something, or a car auto shop and the technicians who are, and these guys are really good at what they do. Okay. And they own all of their own tools and they have those tools in a really nice toolbox. And it’s usually like this huge toolbox standing up really tall and it’s red. That’s exactly right. Yeah. And, and one of my clients who is one of the suppliers to that, they, you know, he wanted to, you know, we were fighting over like, okay, how do we separate?

Steve Miller (17:26): How do we separate? You know? And you know, you try to get ’em to, oh, you can change color. But really what we’re looking at is we’re looking at what can we offer people that nobody else is gonna offer? And, you know, and he said, you know, they’re all expensive. You know, at that level, they’re very expensive. So how do you prove value to a customer? Cause I always say where value is clear, the decision is easy. And so he came up with this concept of, of not just a lifetime guarantee, but he came up with a, with a concept of a 55 year guarantee. And what he did with that was by, by taking a specific number like that, instead of saying lifetime, cuz lifetime is kind of one of those things, people, banner, you know, bandy about, you know, all, all over the place he said for, he says, if you call me within 55 years, I will give you a brand new, you know, you know, case, or I’ll give you your money back.

Steve Miller (18:23): Okay. And then, and, but then he, you know, in the guarantee he also says, put, my kid is take, okay. We both know I’m not gonna be alive in 55 years. right. He’s actually taking a long taking over the business. And so my kid will be, you know, taking care of the, so, so what he’s doing is he’s just essentially, you know, a lifetime guarantee and he’ now spun it into language that people will remember. And that’s what we’re, that’s what we gotta be cognizant of is that people do business, you know, with people, they like, they know they trust and they remember, okay. And that’s the thing that it just for him, you know, it has separated from the crowd and man, and you know, and he is killing it.

John Jantsch (19:06): So Steve, tell me, tell people where they can find out more about obviously the book, a stealing genius or uneven.

Steve Miller (19:13): Well, you know, you can find out about him on Amazon,

John Jantsch (19:15): Find out more about your

Steve Miller (19:16): Work. You can absolutely do that. Yeah. But here’s what here’s, what I’m gonna do is I’m gonna, I’m gonna give a gift to everybody because I love giving out books. And so what I’m gonna suggest is go to the website, be copyable dot. No, I’m sorry. Whoops. Back up. I started to say wrong, no stealing genius.com/do tape. Okay. And if you go to that site right now, here’s what you do. You go buy stealing genius on Amazon. I don’t care put, if you buy the Kindle, it doesn’t bother me. Right. And then you go to that webpage and it asks you for your email address and you email address. And, and then I will follow up with you. And I will say, okay, now send me your mailing address. I will send you a free paperback copy of my book, UN copyable as my gift to you. And yes, I will even sign it because John, you and I both know how much more valuable that makes that book. Right. you know, don’t personalize,

John Jantsch (20:20): Absolutely RA raises the price of my books, uh, by 50 cents on eBay when people are selling at least.

Steve Miller (20:27): Yes. Is it? Cause personalization actually drops the value of the book.

John Jantsch (20:32): That’s right. That’s right. No, no longer re well Steve, thanks again for, uh, taking the time, stop by the duct tape marketing podcast. And hopefully we will run into you again soon when

Steve Miller (20:41): Hope so. Can’t wait. See your next book either. Thanks.

John Jantsch (20:43): Thanks Steve. Hey, and one final thing before you go, you know how I talk about marketing strategy strategy before tactics? Well, sometimes it can be hard to understand where you stand in that what needs to be done with regard to creating a marketing strategy. So we created a free tool for you. It’s called the marketing strategy assessment. You can find it@ marketingassessment.co not.com .co check out our free marketing assessment and learn where you are with your strategy today. That’s just marketingassessment.co I’d love to chat with you about the results that you get.

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Original source: https://ducttapemarketing.com/creating-uncopyable-experiences/

The post How To Create Powerful, Uncopyable Experiences For Your Target Customer appeared first on connect social networks.

from Connect Social Networks http://connectsocialnetworks.com/how-to-create-powerful-uncopyable-experiences-for-your-target-customer/

Elon Musk Drops Margin Loan From Twitter Bid, Making It A Little Less Risky

Illustration by SME| Illustration by SME

EOne of the more risky components in Musk’s bid for Twitter at $44 Billion has been dropped. This is a wise move considering the trend stocks are following over the last few weeks.

According to new SEC filings, Musk no longer plans to obtain a margin loan to finance the $44billion, or $54.20-per-share, acquisition. Musk originally planned to take out a $12.5 million loan to finance the transaction. However, after adding additional investors, the number was halved. Now, he says he’ll make up that $6.5 billion in additional equity.

If he had taken the margin loan, he would’ve needed to secure it with his Tesla stock. Under the loan’s terms, Musk needed to put up $31.25 billion worth of Tesla shares. Because the stock was falling, Musk needed more Tesla shares to pay off the loan. Margin loans can seem like a risky bet in good times. Even more when you are in a financial crisis, like the one we find ourselves currently.

If things worsened, there was the outside possibility Musk could face a so-called margin call, when the equity securing a margin loan has deteriorated and a lender forces the loan’s repayment. Musk would’ve needed to sell Tesla stock all pell-mell to make that happen, depressing the share price further. (The worst margin calls have led to the most tragic spirals, which in turn has completely consumed and destroyed companies. Archegos Capital Management experienced this recently. It probably wouldn’t have happened to Tesla, but it would’ve definitely made a bad situation even worse.) Stanley had established a threshold for triggering such an event: a Tesla stock decline of 40%. And with Tesla stock already down almost 25% in the past month, you get a sense of Musk’s circumstances: Significantly more different today, that is to say, than they were in April when he first talked about taking over Twitter.

There are complications, as with all things Musk and Twitter. How will he obtain the $6.5 Billion in equity needed to pay off the loan margin?

He’ll need to do one of two things. Possibly, he’ll sell more Tesla shares, not a great scenario in a down market. Doing so will further depress Tesla’s stock. He will also need to look for more friends to be part of his band. This is not a good scenario. If it was hard to convince investors a month ago before equities started to slip—and by the dearth of traditionally high-profile names on the deal table, it sure seems like it was difficult—it’ll be even tougher to talk people into it now. Twitter shares ended Thursday at $37.16, much below Musk’s $54.20-a-share offer. Imagine going out to fundraise right now to buy a company you’ve just spent the past few weeks maligning, accusing it of mismanaging basics like estimating spam.

When markets are down, investors tend to run away from businesses like Twitter. They’re often not financially viable and will always be a commercial failure. They are not inclined to go after them. It’s as if Musk is looking for someone to go in on a fixer-upper home with him after he has stood in the street and yelled about how the house has rats and the electricity’s all screwy. (But don’t worry, I know a good exterminator, He’ll presumably have to tell all new co-investors. This place will be great after I’m done with it.They may find him funny, justifiably.)

And here’s the other matter: Hasn’t Musk said the whole thing’s on hold over those spam numbers? In a sense, you can view his decision about the margin loan as a sign it’s not on hold, and Musk expects to follow through. Why drop the margin loan and make the SEC filing if he didn’t? It looks like he may take over the position, even though it has pests.

The post Elon Musk Drops Margin Loan From Twitter Bid, Making It A Little Less Risky appeared first on Social Media Explorer.

Original source: https://socialmediaexplorer.com/content-sections/news-and-noise/elon-musk-drops-margin-loan-from-twitter-bid-making-it-a-little-less-risky/

The post Elon Musk Drops Margin Loan From Twitter Bid, Making It A Little Less Risky appeared first on connect social networks.

from Connect Social Networks http://connectsocialnetworks.com/elon-musk-drops-margin-loan-from-twitter-bid-making-it-a-little-less-risky/

Transforming Marketing With Artificial Intelligence

Transforming Marketing With Artificial Intelligence written by John Jantsch read more at Duct Tape Marketing

Marketing Podcast with Paul Roetzer

In this episode of the Duct Tape Marketing Podcast, I interview Paul Roetzer. Paul is the founder and CEO of Marketing AI Institute, and the founder of PR 20/20, HubSpot’s first partner agency. He is the author of The Marketing Performance Blueprint (Wiley, 2014) and The Marketing Agency Blueprint (Wiley, 2012); and the creator of the Marketing AI Conference (MAICON). As a speaker, Roetzer is focused on making AI approachable and actionable for marketers and business leaders. He’s also the co-author of a new book launching in June 2022 — Marketing Artificial Intelligence: AI, Marketing, and the Future of Business.

Key Takeaway:

AI is simply a system that can perform tasks that normally require human intelligence. The idea and purpose behind it are to drive digital transformation, evolve an organization, do smarter marketing, save time and money and produce better outputs.

In this episode, I talk with the founder of Marketing AI Institute, Paul Roetzer, about how AI is changing the game in marketing today and how to utilize AI in your marketing to be more efficient and effective in your organization.

Questions I ask Paul Roetzer:

• [1:40] When somebody asks you, “What is AI?” — what’s the simple answer?
• [2:47] Let’s start with the dystopian view. I’m sure you hear all the time that AI is taking over — where does that view intersect with reality?
• [4:22] If your job is doing repetitive things, would you say someone in a role like that could be looking at getting replaced in the future?
• [5:18] How will AI impact the marketing profession?
• [7:21] What are some of the everyday uses of AI that people are experiencing and maybe don’t know it?
• [10:07] What are the five things that every digital agency should be diving into that are going to give them some of the advantages of using AI?
• [11:54] If you looked at these as efficiency tools alone, that would be a great start, wouldn’t it?
• [12:25] Who are some companies that you think are using AI really well in their marketing or operations?
• [13:39] What’s been the hard part of using AI for non-enterprise level organizations?
• [15:02] Would AI help you serve your existing clients better?
• [16:49] What ways are you seeing consumer behavior change?
• [18:36] Where do you see AI being applied for more personal experiences in places like an email newsletter for example?
• [20:25] What would you tell a group of folks that are just now getting into marketing where they should be putting their attention?
• [21:56] Where are your favorite places to find AI tools?
• [23:15] Where can people connect with you and find out more about your work and your book?

More About Paul Roetzer:

• His new book — Marketing Artificial Intelligence: AI, Marketing, and the Future of Business
• Marketing AI Institute
• Connect on LinkedIn
• Connect on Twitter

Take The Marketing Assessment:

• Marketingassessment.co

Like this show? Click on over and give us a review on iTunes, please!

Duct Tape Transcript

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John Jantsch (00:00): This episode of the duct tape marketing podcast is brought to you by the female startup club, hosted by Doone Roisin, and brought to you by the HubSpot podcast network. If you’re looking for a new podcast, the female startup club shares tips, tactics and strategies from the world’s most successful female founders, entrepreneurs, and women in business to inspire you to take action and get what you want out of your career. One of my favorite episodes who should be your first hire, what’s your funding plan, Dr. Lisa Cravin shares her top advice from building spotlight oral. Listen to the female startup club, wherever you get your podcasts.

John Jantsch (00:47): Hello, and welcome to another episode of the duct tape marketing podcast. This is John Jan and my guest today’s Paul Roetzer. He’s the founder and CEO of marketing AI Institute, founder of PR 2020 HubSpot’s first partner, agency HubSpots and sponsor of this show. As many of you know, he’s also the author of the marketing performance blueprint, the marketing agency blueprint and creator of the marketing AI conference Macon. So guess what, we’re gonna talk about AI, but he’s also got a new book coming out co-author of marketing, artificial intelligence, AI marketing in the future of business. So Paul, welcome back.

Paul Roetzer (01:27): It’s so good to be back together, John. It’s good to see you.

John Jantsch (01:30): So, so we’ve been, we were laughing before we started the show. We’ve been talking about AI and now maybe for five or seven years, but I still think there’s a lot of, like, what is that, you know, is that Hollywood? Is that, is that sci-fi, you know, how do you, when somebody just asks you, what is AI? Is there a simple answer?

Paul Roetzer (01:44): The definition I always give is the science of making machine smart and actually comes from de SaaS. Who’s the co-founder and CEO of Google deep mind. And what I love about the simplicity of the definition is the software we use every day, as marketers, as consumers, the hardware we use the phones like your iPhone, they’re incapable of doing things on their own, unless they’re told how to do them. So machines being software and hardware with AI, those machines get human bilities to understand language, to generate language, to see, you know, with computer vision. And so that’s really what they’re doing, and they’re able to learn from data and get smarter on their own. And so we’ll talk, I’m sure we’ll talk about some use case, some examples. Yeah, but that’s the key is rather than just software, that’s all human rules based AI enables vendors to build software that learns and evolves and makes predictions and recommendations to you to augment what you’re capable of as a marketer.

John Jantsch (02:44): So let’s start with the dystopian view, sure, uh, of, of, you know, which I’m sure you hear all the time, right. That, you know, it’s taking over, there’s no thinking there’s no feeling, you know, like, you know, content marketers are, you know, like, yeah. I just put in a couple keywords and boom, I’ve got great content. You know, I don’t have to hire anybody anymore. Uh, where does that view intersect with reality?

Paul Roetzer (03:08): AI’s not that smart. So I think the key is there’s definitely this nature one, you think it’s abstract and it’s, it is just the sci-fi thing. You’re not actually using it. Two is it can seem overwhelming and highly technical. The reality is that AI isn’t that advanced today. What, what happens is it’s trying to do these very specific tasks at, at a very high level. And it’s normally applied to things that are repetitive and data driven for us as marketers, things that we don’t want to have to do a bunch of times anyway. Yeah. So you kind of look at these things in your daily life where it’s repetitive, there’s a defined process for it. That’s a lot of times where AI being applied, it’s augmenting what you do. It’s intelligently automating pieces of it is not taking your job away. It’s not replacing you as a writer. It’s just there to be an it’s easiest to think of it as an assistant. And so that’s in the book we go into like these different levels of intelligent automation, and we’re not going from zero to fully autonomous. We’re just trying to get that little bit of support from the machine.

John Jantsch (04:05): Yeah. And I think some people can make a case for it actually frees you to do the creative work. And I think the argument probably 25 years ago when robots came around was, oh, it’s taken, you know, these people’s jobs, but like, do you really wanna put that bolt in 3 million times? , you know, over the next two weeks, is that a really satisfying job? Right. So that’s a lot of what you’re saying is it takes the repetitive stuff out. And, and so clearly if, if you’re counting on having a job, that’s based on repetition, I mean, you’re probably, you probably are looking about at being replaced, aren’t you?

Paul Roetzer (04:36): Yeah. I mean, the way I explain it is if your job is simply to AB test landing pages that is fundamentally all you do 40 hours a week, then yes, it will replace you like you. That is not gonna be something humans need to do. If you are looking at data and trying to figure out audience targeting for media buying AI is really good at that. It’s really good at finding patterns and like being able to predict, you know, behaviors and outcomes. So it’s just tasks. But if your entire being is doing those repetitive tasks, then yes, it would be a good time to start looking for other areas where there’s uniquely human traits needed, like strategy, creativity, empathy, like those relationship building, those are machines not doing those things really. Yeah.

John Jantsch (05:17): So, so how, how are you talking to marketers specifically about the impact of this in their jobs? We, you kind of almost touched on it right there a little bit. Yeah. But how are, you know, how does it really, how will it, uh, impact the marketing

Paul Roetzer (05:31): Profession? So at a high level, we talk about this intelligent automation. We’re under the working assumption that within three to five years, at least 80% of what marketers do will be intelligently automated to some degree, meaning tools, software you’re using is going to have AI in them, but that’s not unlike your consumer life. So you don’t think about AI all the all day long, but every time you use Netflix and it’s recommending shows and movies, Spotify learns, you know, your music and predict shows, Google maps routing you from a to B in the, in the fastest way. Anytime you talk to a, a virtual assistant like a Google or Siri, all of that is AI. And so your life is made more convenient, more personalized by AI. And that’s, what’s gonna happen in business, whether you’re in advertising or email or communications or SEO, AI is going to be infused into the software and make it smarter. And in many cases, you’re not even gonna notice it or even care. Yeah. But we’re not there yet. And so what we tell marketers is you can get there now though, you can go find smarter tools to do what you do. It’s not about buying AI. It’s about buying smarter tech. You already buy this tech find tools that are getting better and making you better at your job.

John Jantsch (06:43): Yeah. And I think one of the, well, let me back up a little bit, cuz you, you alluded to a point I was gonna ask about is I think the AI’s been with us a lot longer than people realize and it’s in everyday stuff that we, you know, we don’t realize. I, I wrote my last book exclusively in, uh, Google, uh, docs at somewhere along two, three years ago, you know, they started adding AI to Google docs to where it’s actually, I could start writing a sentence and go, oh, I wasn’t gonna say that. But that’s pretty good. I mean, it would actually, you know, and I don’t know if it’s purely learning one to one with me or if it’s just saying, oh, people commonly finish sentences with this word that start that way. So, so talk a little bit about some of the really everyday uses you started talking a little bit about ’em, but going to some examples of everyday uses that people are experiencing AI and, and maybe don’t know it.

Paul Roetzer (07:35): Yeah. So the, we talk at a high level categorically and there’s, I think it’s chapter two of the book is, is broken into language, vision and prediction. And so it talks like these parent categories of different applications of AI. So language in particular is of interest to all marketers, right? And that is mainly around the understanding and generation of language. And so that’s like what you’re talking about Grammarly is a great example of AI embedded within a tool that many people use every day. Um, so zoom is another, like they use outer.ai to transcribe audio, right? So speech to text, text, text to speech is another one language generation with any, whether it’s video or audio or written. So like all these Twitter out there, like copy.ai and Jasper and hyper write. And you know, you hear all these names, you probably see the ads for, and what they’re doing is using a, the tool called G PT three or an underlining platform called G P T three, which is made by open AI.

Paul Roetzer (08:27): And that is a language generation it’s using, what’s called a large language model to generate language in all these different disciplines. And so you can go in and give it a sample website and say, okay, write me ad copy, or write me social media shares based on this. And it’s doing it now. You’re not gonna grab it and hit publish. But as a social media pro or an ad person or a blog post writer, you’re going to take these almost as drafts and improve on them and then publish them. And so I think again, anywhere where you write, you’re seeing it all over and that’s gonna continue to become a part of your life. And then again, you just go disciplined by discipline, whether again, your communications, SEO, and just find ways where there’s repetitive processes, predictions being made or language being read or generated.

John Jantsch (09:13): Hey, eCommerce brands did you know, there’s an automated marketing platform. That’s 100% designed for your online business. It’s called drip. And it’s got all the data insights, segmentation, savvy, and email and SMS marketing tools. You need to connect with customers on a human level, make boatloads of sales and grow with Gusto. Try drip for 14 days, no credit card required and start turning emails into earnings. And SMS sends into ch CHS try drip free for 14 days. Just go to go.drip.com/ducttapemarketingpod. That’s go.drip.com/ducttape marketingpod.

John Jantsch (09:57): So if somebody came to you and said, yeah, we we’re an agency digital agency and we know about AI, but we haven’t really been aggressively or intentionally trying to bring it to our clients. Where would you say, well, here’s the starting point. Here are the five things that every digital agency should be diving into that it’s gonna give them AI or it’s at least gonna give ’em some advantages using AI.

Paul Roetzer (10:18): Yeah. So there’s two ways we teach it. It’s called the piloting. AI is that there’s a chapter dedicated to this, too. What I tell people is take a spreadsheet, make a list of all the activities, the tasks that you do individually, or as a team each week, each month make a comment that says how many hours a month you spend doing it, uh, what software you use for it and how much that software costs per month. So you’re basically getting a cost structure for each activity and then just apply of simple rating and says, well, how valuable would it be to intelligently automate this task? And so let’s say you’re a content strategist and you spend 10 hours a month on the editorial calendar, figuring out what to write, looking at past posts, trying to predict what work, what you should republish, what you should create new.

Paul Roetzer (10:58): Then that might be an area where you could say, wow, if AI could help me do this and cut it 80% of the time spent on it and be better at predicting, what’s gonna work. That would be huge for me as a content strategist. There you go, AI for content strategy, go Google it, find three tools that do it, go demo those tools. So I always tell people is start where you’re already spending time, where you can make a business case for the value it could create for you. And you’re gonna know real quickly whether it’s working or not. Cuz at the end of the day, AI is just designed to make you better at your job and make it cost less to do the job. And if it’s not doing that in improving performance, then it’s a waste of time.

John Jantsch (11:38): Yeah. I think that’s a really great point too, because I think a lot of people look at this and say, oh, we can do new things and maybe start by by just getting efficiencies. Yes. I mean you could probably generate a tremendous amount of profit to the bottom line by just get, I mean, everybody that, by getting more efficient. So if you looked at these as efficiency tools alone, that would be a great start, wouldn’t

Paul Roetzer (11:58): It? Yeah. And I know of companies that have, I have friends whose jobs and companies is to try and reduce the need for 15 new headcount down to five. Yeah. And they’re basically just looking at not, they’re not their job isn’t to fire people, but it is to say, as we scale, how do we do it without having to hire more? And so they’re looking at inefficiencies and work productivity and they’re finding things that AI can do to at least some degree without the need for human involvement or minimal human involvement,

John Jantsch (12:25): Who are some companies that you think are doing this really well. I mean that are maybe kind of ahead of the curve and, and it might just be in their own operations or in their own marketing.

Paul Roetzer (12:33): Yeah. Most of as big enterprises, they don’t talk about it much. But when you look at retail eCommerce or huge ones, just go to the top 10 eCommerce companies, top 10 retailers, um, CPG financial services. Those are healthcare. What you look for is companies and industries that have a lot of data and a, and a huge need for personalization. And there’s a really good chance they’ve been doing this stuff for five to 10 years, not if not in marketing and sales and service across other areas of the company. But I mean, just like Mike, my co-author just put one on LinkedIn last week about like 15 retailers that are doing awesome things with AI. And it was the obvious ones. Walmart Starbucks McDonald’s bought, bought AI com like they’re buying AI companies, they bought one to customize the drive through screen for you based on the weather data and based on behavioral data of like what people are ordering that day. So it actually tailors what you’re seeing. So I mean, it’s just, retail was a huge one that, yeah, there’s just tons on.

John Jantsch (13:29): So that’s why that pumpkin spice shows up that day. Huh?

Paul Roetzer (13:32): Yeah. Well if it’s in the middle of the summer. Yes. Because otherwise it just shows up in the winter, but yeah,

John Jantsch (13:38): That, yeah. So, so taking this back to non-enterprise yeah. Level companies, uh, which a great deal of our listeners are what’s the, what’s been the stumbling block. What’s been the hard part, you know, of doing this.

Paul Roetzer (13:53): So we asked that question in our state of the industry survey we did with drift, like what are the obstacles to adoption? Number one far and away with 70% of people said, lack of education and training. They just didn’t know where to go to get the information. And then in the 40 percentiles you had like lack of awareness, lack of team, right? Like talent, lack of strategy, lack of vision. My base assumption is the vast majority of marketers still have no idea what it is. So they can’t explain it to you. They, if like, let’s say you’re at a, you know, a 30 person agency and you listen to this and you’re like, this is kind of cool. And you’re gonna walk into the CEO’s office and say, I think we should start doing more AI. And the CEO says, why you’re gonna say, I don’t know, just, it sounds like we’re just really cool. Like

John Jantsch (14:32): Everybody else is.

Paul Roetzer (14:33): Yeah. If they really say, well, what would be the business case for it? What exactly is it like most marketers can’t give a basic definition and they don’t know the main use cases for it. So I think it, it is just a lack of understanding across the industry. That’s slowing adoption rates down,

John Jantsch (14:47): You know, I loved one of the filters. I think that you used for this, you know, when a lot of new social media platforms would come around and you know, clients would be saying, should we be doing that? You know, should we get on Twitter, this, you know, circa 2007 or something like that. Um, and, and I always did use the filter. Uh, would this help you serve your existing clients better? You know, if you make a case for that, then go all in and we’ll get crazy with it. But, and I think that’s probably a great starting place for looking at AI. Isn’t it?

Paul Roetzer (15:15): Yeah, no doubt. I, I actually published something recently that wasn’t in the book and it sort of came to me, uh, little later on, but the, what I think’s gonna end up happening is, and again, keep in mind, I owned an agency for 16 years before I sold it. Right. So I, I live in the agency world and we work with lots of companies. So SMBs all the way up to, you know, fortune 500 companies. Um, I think in the not too distant future, there’s three types of organizations. There’s AI native. So they don’t exist without AI, they’re in an industry and they find a smarter way to do that industry, do the products and services in that industry. And they build from day one as an AI company, then there’s AI emergent. Those are companies that exist today that look to the future and say, while there’s smarter ways to do product and services, marketing sales, and then there’s obsolete.

Paul Roetzer (15:58): And, and I don’t think there’s anything in between. So the way I look at it is AI is going to be so essential to the operations of every business. And so intertwined into the marketing sales and customer service, that if you don’t find ways to adapt and evolve, someone else is going to build a smarter version of, of your business. That is way more efficient than you are without AI. And over time, I’m not saying like three years from now, we’re all done. Like if you don’t evolve saying, but over the next decade, like it’s going, you’re just gonna become less and less relevant if you don’t find a way to become more efficient at what you do and deliver better results.

John Jantsch (16:34): Yeah. And I think some of that’s very consumer driven too. You know, one of the things people always point to is Amazon changed the game because consumers got used to yeah. The way what they got to experience there and everybody else had to up their game or, you know, get left behind. And you know, what ways are you seeing consumer behavior change? Because whether they know it or not, they’re being served this way.

Paul Roetzer (16:57): Yeah. I, I think the key for me is as consumers of consumer products, but also in our B2B world, you come to expect convenience and personalization. Like if I’m, let’s say I’m shopping for new social media management software and I’m the entrepreneur of a five person company, or a 20 person agent, whatever it is, there’s a good chance. I’m not doing that at 10:00 AM on a Thursday. There’s a much better chance I’m doing it at 10:00 PM on a Friday after my kids go to bed. And I finally have a minute to look at that thing. That’s not critical to my business, but is important to the future. So if I’m on a website for social media management software and it’s like call us between Monday and Friday from nine to five, and there’s no intelligent chat out there that actually helps me get what I’m looking for or understands that I’ve been on the site previously and kind of can predict my behavior and my intent, like I want personalization and convenience in my shopping experience, whether I’m on Amazon or I’m on some social media management software site. And so I think as consumers, we just come to expect convenience and personalization, and there is no way to do personalization at scale, without AI in the future. Like I’ve heard software CEOs talk about personalization as though AI, or as though it can happen without AI. It can’t, like, we’re not that good as humanist writing rules that apply to thousands of people.

John Jantsch (18:17): Right. Right, right, right. Right. So, so let’s talk about the relationship between AI and your data, because I think that’s what you’re really in a lot of ways where, where people are starting to personalize without AI is because I know customer X has bought this product and I can cookie him or her. And so then I can serve a more relevant, personal experience perhaps, or relevant email newsletter perhaps. But where does, where do you see AI then? You know, must be applied. You know, if we can use these JavaScripts and we can use our own data, you know, where does AI come into play with that scenario?

Paul Roetzer (18:55): Yeah. So data is the foundation of AI. It’s what it gives its predictive abilities, cuz that, that you almost every case AI is just making predictions about behaviors and outcomes. That’s what machine learning is. So you hear machine learning thrown around is like synonymous with AI. Sometimes it’s a subset of AI, but machine learning is all about the machine learning from data to improve its predictions and actions. And so that’s what the data does is it gives you the ability to actually build these predictive models about customer retention, customer growth, churn rates, lead scoring, to predict who’s likely to be a new customer. Who’s gonna open emails. Who’s gonna click on it’s all predictions. And so data is at the foundation of that. Now you can be a small business. You don’t have to have, you know, hundreds of thousands of records because what you can do is benefit from anonymized data. So if you’re a HubSpot customer, they have 150,000 customers over money. They have, they can anonymize all that data targeted like, okay, this is a lump of cohorts. That’s in this specific industry or this specific size company. And they can anonymize that data to improve your predictive ability. I’m not saying they’re doing that, but that’s what’s happening. MailChimp is a good example. Hundreds of millions of records. They can use all that anonymized data to predict when you should send your emails, who you send ’em to subject lines, you should use things like that.

John Jantsch (20:07): Yeah. So let’s, let’s end by talking a little bit about future careers. If you were talking and you probably get asked to, to a group of college students that were in marketing, uh, what would you be? I know when I talk to ’em, I, I tell, ’em look, forget all the stuff you’ve been learning. This is what you actually should be focusing on. You know, what are you, what would you tell, uh, a group of folks that are just now getting into marketing, where they should be putting their attention?

Paul Roetzer (20:31): One, I think it’s an incredible time to come into the profession because as you said so much of what got the rest of us, where we are, is going to evolve in the near future. yeah. And so the ideas to, to, to drive digital transformation, to evolve an organization, to, to do smarter marketing, that saves time and money and produces better outputs. It can come from the interns because a lot of executives don’t understand this stuff and they’re maybe even a bit intimidated by it because they don’t understand and they think it’s gonna be really hard to learn. So they just kind of avoid learning it, keep putting it off. Yeah. So I think that the people who take the initiative to go learn it and don’t go and try and sell AI and machine learning like you, if you walk into the CMOs office as an intern and say, I think we’re gonna, we do some machine learning.

Paul Roetzer (21:17): We could cut a hundred hours a month of productivity and like get outta my office. Like I . But if you go in and say, Hey, listen, I analyzed our email marketing activities and we spent a hundred hours last month doing these five things. I think there’s a way to shave 50% of the time off and actually produce twice as much quality work now. Oh, talk to me about that. What is that? Okay. Well there’s these two tools I’ve been testing and here’s what they do. You don’t ever even have to say AI. Yeah. Yeah. But you know, to go find smarter tools to do the thing and you identify opportunities to drive efficiency cuz you understand what it’s capable of doing.

John Jantsch (21:51): All right. I lied. I’m not gonna end yet. Tell me where tell me, tell me where, what are you can need to say? Well, here are my favorite places to find AI tools or here are a handful of my favorite AI tools, either one, either way. You want to answer that.

Paul Roetzer (22:03): So in, in the book, there’s 10 chapters in the middle that are piloting AI chapters and it’s AI for advertising AI for communications. Each of those chapters just follow the same pattern. It explains the opportunity with that category of marketing. It goes into tech and then it goes into sample use cases or vice versa, use cases and tech. So there’s about 70 different vendors featured in the book that are a good starting point on the marketing AI Institute blog. We regularly published lists of vendors across different categories and different things. Like we did 36 tools for AI co or for copywriting last week that, that sort of stuff. So yeah, we just follow along the newsletter or, you know, grab a copy of the book.

John Jantsch (22:39): And the, the fun thing is that like everybody’s copy of the book will be different. Right.

Paul Roetzer (22:44): That would be awesome.

John Jantsch (22:46):

Paul Roetzer (22:47): There, there are a lot of things we tried to do with AI to do the book, but personalized copies for everybody. I don’t think the publisher would’ve let me get away with

John Jantsch (22:56): That. No, no, that’s a tough one. So speaking of an industry that, uh, maybe needs to come into the future, sorry. Uh, sorry. I’m not picking on your publisher,

Paul Roetzer (23:04): But my publisher’s very open minded. I actually love what they’re thinking of. We’re doing some cool stuff with synthetic voice potentially. We may actually

John Jantsch (23:11): Do some stuff, so. Oh cool. Awesome. We’ll tell people, you’ve mentioned a few things, but if you wanna invite people where they could connect with you and obviously the book will be available everywhere.

Paul Roetzer (23:20): Yeah. And so marketing, I institute.com. You can get to the book site from there. There’s gonna be, uh, there’s a couple of free downloads that actually the piling AI workbook that we talked about of how to figure out what to start with, that’s gonna be a free download as part of the book. So you can go there and actually get that spreadsheet. And then there’s a guide that has about 30 sample questions to ask AI vendors. So to help you assess them, it it’s kind of a cool guide. So those will both be available there. So yeah, marketing institute.com is best and I’m really good on, uh, LinkedIn and Twitter. If you wanna reach out to me personally, I’m, I’m really responsive on both of those platforms. I am not a Instagram TikTok or Facebook guy. And if I’m missing anything else, I don’t really do those either too much.

John Jantsch (23:56): gotta stay focused. Right. Awesome. Paul, it was a great catch up for you. I appreciate your stopping by the duct tape marketing podcast. Hopefully you will see you, uh, soon, one of these days out there

Paul Roetzer (24:05): On the road. Thanks so much, John.

John Jantsch (24:06): Hey, and one final thing before you go, you know how I talk about marketing strategy strategy before tactics? Well, sometimes it can be hard to understand where you stand in that what needs to be done with regard to creating a marketing strategy. So we create a free tool for you. It’s called the marketing strategy assessment. You can find it @ marketingassessment.co not.com.co check out our free marketing assessment and learn where you are with your strategy today. That’s just marketingassessment.co I’d love to chat with you about the results that you get.

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Fortunes Of Social Media Billionaires, Led By Snap’s Evan Spiegel, Plunge Billions On Tuesday

Evan Spiegel, co-founder of Snap Inc. and CEO speaks at the DisruptSF2019 conference held at Moscone … [+]Center in San Francisco on October 4, 2019

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Social media companies’ share prices soared during the pandemic as people spent more time online. Now those stocks are coming back to Earth—along with the fortunes of their billionaire founders. Snap, Meta Networks and Pinterest founders lost $10 billion each in just one-day. SME estimates.

Shares of Snap, the parent company of Snapchat, plummeted an astounding 43% on Tuesday from Monday’s close following Snapchat’s downward revision late Monday of its initial second quarter guidance. According to the social media giant, it expected less revenue and profits than initially anticipated. Snapchat’s CEO Evan Spiegel (cofounder) is now worth $1.7billion less than Monday. That’s a drop of 35% as of Wednesday market close. He’s now worth an estimated $3.1 billion. Snap cofounder Bobby Murphy’s fortune fell by $1.9 billion on Tuesday to an estimated $2.9 billion.

“The macroeconomic environment has deteriorated further and faster than anticipated,” Snap said in a filing Monday with the Securities and Exchange Commission.

Snap didn’t immediately reply to our request for comment. SME.

Snap shares dropped since last fall. This trend has continued even after Apple allowed users to turn off targeted ads. Snapchat shares fell 85% from the peak of $83 at late September, when they were at their highest point at $12.79.

Spiegel isn’t the only social media billionaire getting hammered by big changes in the global economy, including inflation, the war in Ukraine, higher interest rates, declining user interest and marketers spending less money on ads. Pinterest, Meta Platforms (formerly known as Facebook) and Twitter stocks all declined on Tuesday, as investors worry that Snap’s worsening outlook portends a dire year for other social media companies.

Pinterest, after Snap is second in terms of percentages. The shares of the photo-sharing site fell by almost 24% Tuesday. After losing 20% in less than 24 hours, Paul Sciarra and Ben Silbermann, the cofounders of Photo-sharing website are worth $1.1billion each.

Meta Platforms, which operates Facebook Instagram and WhatsApp, is down 7.6% since Monday, erasing $5.2 billion from founder Mark Zuckerberg’s fortune. Twitter shares fell 5%, causing a $405 million hit to founder Jack Dorsey’s net worth.

Shares of Google parent Alphabet, not a social media company but a big tech bellwether, fell 5% on Tuesday, dragging down Google founders Sergey Brin and Larry Page’s fortune by a combined $9 billion.

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Original source: https://socialmediaexplorer.com/content-sections/news-and-noise/fortunes-of-social-media-billionaires-led-by-snaps-evan-spiegel-plunge-billions-on-tuesday/

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How The Sexual Misconduct Allegations Against Elon Musk Could Affect His Twitter Deal

Elon Musk looks down and pauses as he talks during the press conference held at SpaceX’s Starbase facility in South Texas near Boca Chica Village on February 10, 2022.

AFP via Getty Images

h, here you were thinking that Elon Musk’s—baffling, quixotic—crusade against spam bots was the most important thing we’d need to discuss in Musk-Twitter-dom this week.

Well, it’s not, and that comes from the fresh amount of uncertainty injected into Elon Musk’s will-he-won’t-he buyout of Twitter on Thursday evening when Insider detailed sexual misconduct allegations against him. SpaceX’s former flight attendant was allegedly $250,000 paid by Musk to make her quiet after she saw his naked penis and asked for progeny. Musk told Insider there’s “a lot more to this story” without going into further detail and has sought to characterize the reporting as a politically motivated attack on him, sparked by his outspoken desire to roll back moderation policies at Twitter if he actually does buy the company.

Is there any impact on his Twitter Takeover proposal? It probably—probably—won’t. And that, reasonably, is sure to disappoint anyone who doesn’t buy Musk’s political-smear-job defense and falls into the camp that believes CEOs shouldn’t go around showing off their schmeckles to their employees. But, but! There are a couple longshot possibilities, with emphasis being very much on the word “longshot,” where the allegations may lead.

Twitter’s board might, might These sexual harassment allegations could be used to justify a change in the board’s stance. That could involve the board turning to Section 6.5(d) of the merger agreement, a so-called “intervening event,” which basically means something bad came up unexpectedly after the deal was signed. Or they maybe could use Section 5.1(a), the so-called “Parent Material Adverse Effect” clause, which basically means if the acquirer (Musk in this case) has hidden a fact that would significantly affect the ability to close the deal, the acquiree (Twitter) can walk away.

“Maybe, maybe, maybe the board can change its recommendation,” says Matteo Gatti, a Rutgers University law professor who specializes in corporate litigation. “But that seems like a bit of a stretch.” The board would be in the position of weighing the allegations’ importance “against their fiduciary duties to maximize shareholder value in a sale,” Gatti says. “Since there is no other game in town”—Twitter hasn’t fielded any other offers to buy the company—“they won’t probably do this.” And if the board did, it would need to pay Musk the $1 billion break-up fee detailed in the merger agreement. (A Twitter spokesperson declined to comment about the Insider story on Friday morning and whether it has changed the board’s thinking.)

A shareholder vote will be held on May 25th to decide whether the merger should proceed. Maybe if there’s enough outrage over the allegations, shareholders will reject the deal—even if the board doesn’t change its recommendation. The vote will hinge on the actions of Twitter’s major institutional shareholders and not really you, average Twitter investor at home, at all. And those corporations—Vanguard, State Street, BlackRock to name just Twitter’s largest three such investors—will be asked to do the same mental balancing act as the board: Are these allegations enough to abandon the deal even though we know Twitter probably isn’t going to see another one like it, possibly ever?

They may very well answer that question in the negative, pressing on with the deal, and with that in mind, there’s another element to this discussion worth bringing up now. At this point, Musk has all but confirmed he won’t do the deal at his original $54.20-a-share offer, saying Twitter misled him about the prevalence of spam bots on the platform. Twitter says it didn’t mislead him, and it won’t renegotiate, so it seems like they’re headed for the courts.

Twitter will get a chance to sue Musk by arguing he’s violating the “specific performance” clause in the merger agreement by unjustifiably walking away from the agreed-upon $54.20. A lot will need to go right in Twitter’s favor for that argument based on specific performance to work. Musk must not impede the closing of this deal. The deal will require approval from shareholders. A judge will then be able to comment on the specific performance.

This process will be slow. It will take a lot of time. “The scenario of going through the courts and then going through appeals, you’re talking about a three-to-four-year process,” says Mark Williamson, a corporate and M&A lawyer and partner at Lathrop GRP.

Really, does Twitter have that kind of time to sit in situ, hoping Musk, who doesn’t even seem to want the company anymore, ends up buying the company? Twitter, which was already in trouble before Musk came along, had only seen scattered profits and low revenues over 16 years of existence. (It’s why it can’t find itself another more palatable buyer than Musk to sell itself to.) Moreover, Twitter is a public company, and public company shareholders aren’t typically patient, certainly not “wait for a court to decide a company’s future over years while it risks disintegrating in limbo” patient. Musk, meanwhile, won’t be beset by the same time-crunch demands. You can leave Twitter and walk away completely, or you could walk away with a reduced price. If it drops to $42.69 we may all think about solemnly, but firmly, quitting Twitter.

This is all to say, there’s absolutely no guarantee that suing Musk over specific performance will work. The most likely outcome is that Twitter gives in and Musk receives a lower price. “With this maybe dragging out a long time, I think there’s going to be some back and forth, and in the end, the parties end up coming together in modifying the deal,” says Williamson. And what Twitter’s board and shareholders are left with is this: That they chose to ignore the misconduct allegations in their consideration of selling the company to Musk, and they still didn’t get what they wanted.

The post How The Sexual Misconduct Allegations Against Elon Musk Could Affect His Twitter Deal appeared first on Social Media Explorer.

Original source: https://socialmediaexplorer.com/content-sections/news-and-noise/how-the-sexual-misconduct-allegations-against-elon-musk-could-affect-his-twitter-deal/

The post How The Sexual Misconduct Allegations Against Elon Musk Could Affect His Twitter Deal appeared first on connect social networks.

from Connect Social Networks http://connectsocialnetworks.com/how-the-sexual-misconduct-allegations-against-elon-musk-could-affect-his-twitter-deal/