Why Waste Your $3.8 Million on a 30 Second Super Bowl Ad?

Hola Todos!

I have an ROI mentality when it comes to spending marketing dollars.  The idea of spending $3.8 million dollars on a TV ad, when it will be very difficult to determine what I will get in return for the money – – strikes me funny.  If I can’t track it, perhaps it is not worth the investment?  At the very least, we should consider a few alternatives.

What I like about the this Super Bowl article is it at least entertains the idea that one could get a lot more bang for the buck, as well as, trackable return by spending your $3.8 million via other means such as at least 8 days of homepage ad units on YouTube for up to $500,000 a day.
 For businesses that do not sell directly to the end user, perhaps the digital route is not all that much better but for any business that can directly convert online, I’d recommend spending your marketing dollars where they are easier to track.

Something to think about today.

Best regards,

Dr. Dan-o

 

 

Daniel M. Ladik, Ph.D.,

 

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

 

Failing to Start: You don’t need a Map – You need a Compass

Hola Todos!

I’ve got another excellent nugget for you – again from listening to podcasts via my Stitcher App.

I was listening to Michael Stelzner, founder/CEO of The Social Media Examiner and he was interviewing Seth Godin.  In their conversation on failing to start, why people accept mediocrity and how to change that, Seth something very nuggetworthy pertaining mentoring:

 

Anyone who has drawn you a map has done you no favors because maps are not anything if you’re an artist.  All you need is a compass.  I’m not telling you I’ve got it all figured out.  I’m helping you with some of the tools for you to figure it out.”

 

Something to think about today…

Best regards,

Dr. Dan-o

 

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

 

 

 

 

 

 

 

Are High Performing Sales Women More Loyal To Their Firm, Than High Performing Sales Men?

Hola Todos!

Research is clearly one of my passions (remember, I’m still aiming for tenure) and I want to get back to one of research streams from a few years back.

Early on in my Ph.D. program, I worked on an interesting sales force study with my professor at the time Greg Marshall, as well as, co-authors Felicia Lassk and William Moncrief examining a sales person’s propensity to leave the firm.  Previous papers found that high performing sales people had a higher propensity to leave the firm.  After all, these sales people were at the top of their game and perhaps it was time move on to a higher paid gig or more prestigious company.  Makes sense right?

What made our paper unique was we examined different time periods (e.g., propensity to leave the firm at 3 months vs. 6 months vs. 1 year vs. 2 years), as well as, male vs. female sales people.  The data examined in the paper was robust including 1042 industrial salespeople representing 61 different companies and 15 of the 20 standard industrial classification (SIC) manufacturing categories.

We found that low performing salesmen and saleswomen behaved the same; both had an equally high propensity to leave the firm because they knew they had to due to their low performance.

By contrast, high performing sales women had a significantly lower propensity to leave the firm across the time intervals described above compared to their male counterparts.  For high performing men, their propensity to leave the firm increased from 3 months to 6 months and then again to 1 year.  These salesmen probably had some rough time estimate to how long it would take to land a new gig plus I’m sure they wanted hang around in the short term to collect some commissions coming to them.  Beyond that, their eyes were on moving on and moving out.  For the salesmen, job satisfaction with pay was most significant for the high performers.  For the saleswomen, job satisfaction with co-workers was the most significant for high performers.

As with all academic research, these findings need to be replicated to strengthen its claims.  In addition, I would like to strengthen the job performance measure.  The original study featured self-report job performance and I would like to add managerial job performance measures as well.  Finally, the original study featured a 75/25 male to female ratio and I would like to have more of a balance in the sample.

I’m currently looking for companies with a large in-house sales force to explore these findings.  If you know of a firm I can talk to, drop me an email and I’ll take it from there.

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

 

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

Stocks: Voting Machines or Weighting Machines?

Hola Todos!

I look for nuggets everywhere and recently, I’ve been listening to a lot of podcasts in the car.  Although there are a lot of podcast apps out there, I particularly like the Stitcher app, which conveniently organizes my favorite podcasts including the Harvard Business Review Ideacast, the Stanford University Entrepreneurial Thought Leaders, the American Marketing Association’s MarketingPower Podcast Series, the Social Media Marketing Podcast from the Social Media Examiner and The Talk Show by John Gruber.

The other day, I was listening to Amazon’s CEO Jeff Bezos on the HBR Ideacast and he was asked, “So how much do you care about your share price?”

Mr. Bezos responded, “I care very much about our share owners, and so I care very much about our long term share price. I do not follow the stock on a daily basis, and I don’t think there’s any the information in it. Benjamin Graham said, ‘In the short term, the stock market is a voting machine. In the long term, it’s a weighing machine.’ And we try to build a company that wants to be weighed and not voted upon.”

I’ve seen too many companies shoot themselves in the foot as they make short-term decisions to make their quarterly numbers look better without thinking of the long-term consequences of their actions.  I like this idea of “a weighing machine” as it connotes a long-term orientation.

Something to think about today…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

The Power of Storytelling: Do People Believe Who They Are Today is Essentially Who They Will Be Tomorrow?

Hola Todos!

One of my research passions is storytelling and I’ve been working on an axiom that goes something like this: “Just as our DNA creates the blueprint to our physical or biological self, stories or narratives we select as our own acts as the blueprint to our psychological self.”

An excellent post on NPR.org details a study by Harvard University social psychologist Daniel Gilbert (anything by Professor Gilbert is worth reading) that investigates the premise “Do people believe who they are today is essentially who they will be tomorrow?”

We understand that as we age, we change physically but the same time, we expect our personality to stay consistent.  As Professor Gilbert states, “I have this deep sense that although I will physically age – I’ll have even less hair than I do and probably a few more pounds – that by and large the core of me, my identity, my values, my personality, my deepest preferences, are not going to change from here on out.”

In the study, Professor Gilbert and his research team collected 19,000 surveys from people in the 30’s and their 40’s.  Some people were asked to look back on how they changed over the past 10 years. Others were asked to predict how they thought they would change in the next decade.

When the research team examined the data, “We’re able to determine whether, for example, 40-year-olds looking backwards remember changing more than 30-year-olds looking forwards predict that they will change.” They found that people underestimated how much they will change in the future. People just didn’t recognize how much their seemingly essential selves would shift and grow.

Just think about it; the stories you told yourself in high school probably changed by the time you got out of college.  What you thought you wanted to be when started college, changed by the time you were five years out of college.  When you’re in your 40’s and look back on your career choices and aspirations of your 20’s, those stories are different too.

So understand that in the future, the internal dialog that you have with yourself will change over time.  It’s not a bad thing, its just natural, normal human behavior.

Something to think about today…

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

 

 

 

 

Leadership Lessons from Reverend Martin Luther King Jr.

Hola Todos!

Many of us have the day off in honor of Reverend Martin Luther King Jr. – a leader of leaders.  At some point today, pause and reflect on the man that did so much for so many.  In an excellent post on the American Express Open Forum, 5 leadership lessons were offered  – inspired by Reverend Martin Luther King Jr. –  including:

-Don’t underestimate low-level employees

-Embrace fear

-Encourage ‘creative tension’

-Know the ‘why’

-Involve everyone

Of the 5, it’s “know the ‘why’” that really caught my attention.  One of my main motivators to pursue the Ph.D., was I wanted to know the “why.” Too many times, I was doing things because “I was told to do them,” “this is the way we did it in the past” or “it worked before so therefore, we must do it again.”  It drove me batty that I could not probe deeper, ask those “why” questions and figure out a more theoretical or strategic reason to why I needed to do what I needed to do.

In honor of MLK, ask a few “why” questions this week.

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

The Power of Curiosity

Hola todos!

The tragic suicide of Aaron Swartz last weekend is still reverberating around the web a week later – as it should be.  Aaron was as individual who was very much a part of the web as we know it.  Aaron was only 14 when he co-developed RSS or Really Simple Syndication – a staple of almost every media site on the web allowing users to receive an updated feed from a web site without having to constantly revisit the web site.  (Remember, RSS was created in the pre-Twitter era.)  Later, he also co-founded Reddit.

As an avid reader of John Gruber’s Daring Fireball, I saw yesterday that John linked to the following article in Fast Company that highlighted an email exchange between Aaron and Ronaldo Lemos, Project Lead, Creative Commons Brazil.  In the email, Ronaldo asked:

You did a lot of important things at a very young age, could you describe a few of them? And how do you see and would explain that? Talent, inspiration, curiosity, hard work? Is there something that you would think that other kids who would like to follow your steps should know?”

And Aaron responded:

When I was a kid, I thought a lot about what made me different from the other kids. I don’t think I was smarter than them and I certainly wasn’t more talented. And I definitely can’t claim I was a harder worker — I’ve never worked particularly hard, I’ve always just tried doing things I find fun. Instead, what I concluded was that I was more curious — but not because I had been born that way. If you watch little kids, they are intensely curious, always exploring and trying to figure out how things work. The problem is that school drives all that curiosity out. Instead of letting you explore things for yourself, it tells you that you have to read these particular books and answer these particular questions. And if you try to do something else instead, you’ll get in trouble. Very few people’s curiosity can survive that. But, due to some accident, mine did. I kept being curious and just followed my curiosity. First I got interested in computers, which led me to get interested in the Internet, which led me to get interested in building online news sites, which led me to get interested in standards (like RSS), which led me to get interested in copyright reform (since Creative Commons wanted to use similar standards). And on and on. Curiosity builds on itself — each new thing you learn about has all sorts of different parts and connections, which you then want to learn more about. Pretty soon you’re interested in more and more and more, until almost everything seems interesting. And when that’s the case, learning becomes really easy — you want to learn about almost everything, since it all seems really interesting. I’m convinced that the people we call smart are just people who somehow got a head start on this process. I fell like the only thing I’ve really done is followed my curiosity wherever it led, even if that meant crazy things like leaving school or not taking a “real” job. This isn’t easy — my parents are still upset with me that I dropped out of school — but it’s always worked for me.”

I am a firm believer in the power of curiosity as one of the main drivers to one’s accomplishments.  In between the fall and spring semesters, I read “How Children Succeed” by Paul Tough that argues intelligence or IQ alone is not all one needs to succeed.  In other words, we can find just as many students without a gifted IQ who perform well above their peers in school or in the careers later in life.  Curiosity is a central theme in the book and students with a stronger curiosity almost always outperformed their counterparts, regardless of IQ.

Something to think about today.

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

 

Will.i.am is More than Just a Musician

Hola Todos!

Every so often, something just catches my eye.  We all know that our smart phone cameras are better than most point and shoot cameras we used in the past as evidenced by the sharp decline in sales of point and shoot cameras over the past two years.  Besides who wants to carry two devices?  Moreover, its much more difficult to share photos in a point and shoot.  Did I mention neat filters?

So it is not surprising that we’re seeing innovation in the smart phone – camera space.  However, it is very surprising who is doing this innovation – not Apple or any other consumer electronics company.  It’s Will.i.am – of the Black Eye Peas!  Check out this video of his high-end camera add-on to the iPhone.

Something to think about today.

 

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

 

 

WIIFM: What’s in it for me?

Hola Todos!

For those of you who have had the torture of being in one of my classes, no doubt you have heard me say on more than one occasion, that good marketers “Tell people what’s in it for them – because if there is nothing in it for them, they will not be interested in anything you’re selling.”

I was reading my Linkedin messages this morning and I saw an interesting post from Peter Guber – someone I follow within Linkedin because he wrote a rather interesting book on storytelling titled “Tell to Win: Connect, Persuade, and Triumph with the Hidden Power of Story.”

I though the post was a nice fit with all my chatter this week on new year’s resolutions.  Titled “10 New Year’s Resolutions You Must Make For Your Greatest Business Success” the post features two items that caught my eye:

#2 – In gathering collaborators and support, focus on “what’s in it for them” – this will garner their attention and intention to respond to your call to action.

#9 – Embrace failure – if you’re not failing on occasion, you’re not taking enough chances testing the real quality of your talents and will unlikely achieve your greatest success.

Check out the full article when you get a chance.

Best regards,

Dr. Dan-o

 

Daniel M. Ladik, Ph.D.,

Associate Professor of Marketing

Stillman School of Business

Seton Hall University

 

 

Leadership: Remembering Zig Ziglar

Hola Todos!

Mr. Mike’s post this weekend to his Seton Hall University leadership community reminded me of my first job coming out of undergrad – a sales job for an advertising agency.  As a young (and very green) sales trainee, my boss was a big fan of Zig Ziglar and it just so happened that Zig was doing a presentation in Philly so I was lucky and got to go to the event – and the word event is an accurate description.

Prior to attending the event, I had no idea who Zig Ziglar was and all I knew was that I was going to get paid for a day’s work to attend this event without having to pay for the ticket a win-win.  I do recall vividly that the price of the ticket seemed astronomical compared to any rock concert I ever attended. Besides Zig, a number of prominent leaders (including General Norman Schwarzkopf who also passed on recently) presented as well.  In addition, I vividly recollect table after table of books, cassette recordings (remember, I was 23 at the time), and other Zig Ziglar swag for sale everywhere – and people were waiting in line with cash in hand to purchase his stuff.  I kept saying to myself, who is this guy?

Zig Ziglar was one of the first motivational speakers.  What I liked the most of Zig was that he had two careers.  He was a sales manager and sales trainer for a number of firms throughout his career but his speaking career came much later in life.  Zig published his first book in 1979 – at the age of 49.  Zig did not have Twitter, a blog, social networks (I bet he did have an old-school mail newsletter though) – he build his brand the old-fashion way which was always a central theme in his talks.  Success is hard work so roll up your sleeves and get cracking!

Zig was known for clever word play – many of his critics called it “corny” however but that’s OK.  Learning from failure has been a theme of a number of posts here on DigNuggetville and I think one of Zig’s best “Ziglarisms” was “Failure is a detour, not a dead-end street.”

Mr. Mike has a handful of additional “Ziglarisms” in his post below.  Mike, the floor is yours…

 

On November 28, 2012 the Los Angles Times headline read:  “Zig Ziglar dies at 86; motivational speaker inspired millions.” Ziglar was a great man and teacher, who changed the lives of millions through his books and public speaking.  At the beginning of this magnificent New Year let us pause a moment to reflect on Ziglar’s gifts to us.

 

“You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.”

“Every choice you make has an end result.”

“Remember that failure is an event, not a person.”

“Your attitude, not your aptitude, will determine your altitude.”

“If you want to reach a goal, you must ‘see the reaching’ in your own mind before you actually arrive at your goal.”

“It’s not what you’ve got, it’s what you use that makes a difference.”

“You will get all you want in life if you help enough other people get what they want.”

“If you can dream it, then you can achieve it.”

 

May you fill your life with purpose, conviction and vision of what can be and who you will choose to become.  Live every moment of your precious life with passion, unbridled enthusiasm and joy.   Act to realize your dreams.  Look at the world through new eyes – to find the undiscovered and infinite possibilities it offers.  Serve others that they, too, may find their greatness.  Continue to learn, grow and stretch yourself… to be more than they ever dreamed you could be… and more… so much more. On your journey, remember Ziglar’s counsel to great leaders:  “If you can dream it, then you can achieve it.”  Life is so very beautiful.

Have a beautiful day, a fantastic week and a joyous, magnificent New Year!!!

Mike

 

Contact Information:

Michael M. Reuter

Director, Center for Leadership Development

Stillman School of Business

Seton Hall University

Tel: (Office) 973.275.2528

Email: Michael.Reuter@shu.edu