If you have to be afraid of something, then fear mediocrity. Some very well written and inspiring advice from Alex Bogusky. Based on a conversation with what sounds like Ari Merkin, he also outlines some of his precepts for success in new business.
1. Tell other people your dreams.
2. The clients you currently have are your true new business machine
3. Find some real passion in the building for the business or take a pass on it.
4. Don’t model yourself after other agencies. Stop stealing all the decks from other shops to find a great pitch.
I am definitely a fan of Crispin (who ain’t?) and while I haven’t always agreed with all Mr Bogusky’s opinions, this really struck a chord.
I was sad to see that Enfatico is to be folded into Y&R. I still believe the Enfatico model can work. Although the WPP custom-built agency for Dell didn’t reach critical mass before the recession struck, it doesn’t necessarily mean a marketing structure built for a single client can’t work. It was also a brave shot at thinking about the totality of a client’s brand communications rather than one silo.
Study Shows TV’s Impact on Consumer Purchasing Behavior
At a time when economic conditions make it more important than ever to maximize their advertising expenditures to get consumers to purchase their goods, the study examines the role of television advertising in driving consumer actions throughout the purchase decision process; how television interacts with other media platforms and how purchase decisions are made as a result of interactions with media. The study looks at the “Purchase Funnel,” a continuum that tracks a consumer from when he first becomes aware of a product through his actual purchase.
Can Creativity Be Crowdsourced?
Much has been made of savvy marketers using “crowdsourcing” to connect their brands with customers, and of the success of crowdsourced programs like Dell‘s IdeaStorm, Starbucks‘ MyStarbucksIdea, The Netflix Prize and Lego‘s invite-only community. Garrick Schmitt notes that a much different discussion has now emerged as crowdsourcing is starting to change the very way we think about creativity, both online and off.
WPP folding Enfatico into another division
WPP said today that it will be folding Enfatico — its experimental communications agency with Dell Inc. — into its Y&R Brands division. The decision to merge the startup into the Y&R division was a strategic one that resulted from the difficult economic climate, according to WPP leadership. In an internal memo to Enfatico’s global team obtained by the Austin Business Journal, Enfatico’s leaders added that the merger will allow the startup to flesh out its capabilities.
Virgin ‘Bails Out’ Hardup Customers Facing Layoffs
Hoping to stimulate consumer spend and spark some brand loyalty on the side, prepaid wireless firm Virgin Mobile USA is offering its laid-off customers calling plans for three months, fully-paid, including taxes and surcharges.
The image above has been excerpted from a larger piece viewable on Mint.com
– an online personal financial site – depicting the ongoing economic bailout. The visualization provides an easy way of identifying the flow of intangible concept like money and the real consequences of the actions being undertaken. In addition to providing the actual plan already in motion, the diagram explains two other theoretical scenarios that both reach the end goal of $700 billion – one from the perspective of the way the US Government
normally spends and the other explores a scenario that doesn’t put the onus on taxpayers to foot the bill.
‘Digital Influencers’ Get Info from Magazines, TV First
Like, Duh? Evidently “Those all-important “digital influencers” actually get their information from magazines, newspapers, TV and radio. That’s according to an MS&L survey whose results will be released tomorrow. The study, developed by MS&L’s influencer-marketing unit IM, reveals that some 84% of digital influencers go online to find out more about something only after first reading about it in magazines and newspapers or hearing about it on TV or the radio.” I am utterly perplexed as to how anybody is surprised by this. No one lives in an exclusively digital world…
What Keeps Twitter Chirping Along
Dell says Twitter has produced $1 million in revenue over the past year and a half through sale alerts. People who sign up to follow Dell on Twitter receive messages when discounted products are available at the company’s Home Outlet Store. They can click over to purchase the product or forward the information to others. “A million dollars isn’t a lot of money, but it shows that people want to sign up for feeds,” says Bob Pearson, head of communities and conversation for Dell.