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jerryking : emotional_connections   28

Opinion | What Does It Mean to ‘Look Like Me’?
Sept. 21, 2019 | The New York Times | By Kwame Anthony Appiah. Mr. Appiah is a philosopher.

Minorities can find it gratifying to see people who resemble them on-screen. But resemblance is a tricky thing........It’s a formula that we turn to again and again to affirm the value of inclusion, especially in the realm of popular culture: the importance of people who “look like me.”......The “look like me” formula appeals because it feels so simple and literal. We can think of a black or Asian toddler who gets to play with dolls that share her racial characteristics, in an era when Barbie, blessedly, is no longer exclusively white. The emotions it speaks to are real, and urgent. And yet the celebratory formula is trailed by jangling paradoxes, like tin cans tied to a newlywed’s car.......For one thing, nobody means it literally. Asians don’t imagine that all Asians look alike; blacks don’t think all blacks look alike.....What the visual metaphor usually signifies, then, is a kinship of social identity. ....the complexities don’t end there. When it comes to representation, two cultural conversations are happening at the same time. One is about “speaking our truths” — about exploring in-group cultural commonalities......e.g. the cultural conversation put on by comedians whose jokes you “get” — the in-group references that resonate with you, that trigger a knowing “nailed it!” smile......That’s one way of “looking like me.”.......What films like Crazy Rich Asians and Black Panther deliver is a way of “looking like me” that’s as much about aspiration as identification. We say that their characters look like us; maybe what we mean is that we wish to look like them.....What these fantasies ask is, Who gets to tell you what you look like? It’s not a representation of identity so much as it is a renegotiation of it.......How identity relates to identification is, of course, a complicated matter.........The truth is that our best stories and songs often gain potency by complicating our received notions of identity; they’re less a mirror than a canvas — and everyone has a brush. It takes nothing away from the thrill of feeling represented, then, to point out what the most ambitious forms of art and entertainment are always telling us: Don’t be so sure what you look like.
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How did children develop self-worth and an identity before movies and tv? People have to stop looking to mass and social media for self-esteem.
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The trouble is that racial and ethnic iconography, including color, eye shape, nose length etc . govern our responses to people the second we see them.
cultural_appropriation  cultural_conversations  culture  emotional_connections  identity_politics  inclusiveness  Kwame_Appiah  paradoxes  popular_culture  representation  self-identification  self-worth  visible_minorities  visual_cues 
24 days ago by jerryking
The Rise of the Virtual Restaurant
Aug. 14, 2019 | The New York Times | By Mike Isaac and David Yaffe-Bellany.

Virtual restaurants” exist with no physical storefronts, tables or chairs. They exist only inside a mobile app, like Uber Eats, the on-demand meal delivery service owned by Uber......Food delivery apps like Uber Eats, DoorDash and Grubhub are starting to reshape the $863 billion American restaurant industry. As more people order food to eat at home, and as delivery becomes faster and more convenient, the apps are changing the very essence of what it means to operate a restaurant.

No longer must restaurateurs rent space for a dining room. All they need is a kitchen — or even just part of one. Then they can hang a shingle inside a meal-delivery app and market their food to the app’s customers, without the hassle and expense of hiring waiters or paying for furniture and tablecloths. Diners who order from the apps may have no idea that the restaurant doesn’t physically exist.

The shift has popularized two types of digital culinary establishments. One is “virtual restaurants,” which are attached to real-life restaurants like Mr. Lopez’s Top Round but make different cuisines specifically for the delivery apps. The other is “ghost kitchens,” which have no retail presence and essentially serve as a meal preparation hub for delivery orders.

“Online ordering is not a necessary evil. It’s the most exciting opportunity in the restaurant industry today,”....Many of the delivery-only operations are nascent, but their effect may be far-reaching, potentially accelerating people’s turn toward order-in food over restaurant visits and preparing home-cooked meals.

Uber and other companies are driving the change. Since 2017, the ride-hailing company has helped start 4,000 virtual restaurants with restaurateurs which are exclusive to its Uber Eats app.....Uber Eats analyzes neighborhood sales data to identify unmet demand for particular cuisines (e.g. "there is demand for late-night orders of burgers and ice cream in your area"). Then it approaches restaurants that use the app and encourages them to create a virtual restaurant to meet that demand.....Restaurants that use delivery apps like Uber Eats and Grubhub pay commissions of 15 percent to as much as 30 percent on every order......Delivery apps may also undermine the connection between diner and chef. ....Delivery-only facilities “take away the emotional connection and the creative redemption.”....In Europe, the food-delivery app Deliveroo also started testing ghost kitchens.....Ghost kitchens have also emerged in China, where online food delivery apps are widely used in the country’s densely populated megacities.
brands  DoorDash  commercial_kitchens  emotional_connections  food_delivery  kitchens  mobile_applications  restaurants  Uber_Eats  GrubHub  on-demand  unmet_demand  virtual_restaurants 
7 weeks ago by jerryking
Daring rather than data will save advertising
John Hegarty JANUARY 2, 2017

Algorithms are killing creativity, writes John Hegarty

Ultimately, brands are built by talking to a broad audience. Even if part of that audience never buys your product. Remember, a brand is made not just by the people who buy it, but also by the people who know about it. Fame adds value to a brand, but to build it involves saying something that captures the public’s imagination. It needs to broadcast.

Now, data are fundamentally important in the building of a market. “Big data” can provide intelligence, gather information, identify buying patterns and determine certain outcomes. But what it cannot do is create an emotional bond with the consumer. Data do not make magic. That is the job of persuasion. And it is what makes brands valuable...... Steve Jobs or James Dyson did not build brilliant companies by waiting for a set of algorithms to tell them what to do.

Persuasion and promotion.

In today’s advertising world, creativity has taken a back seat. Creativity creates value and with it difference. And difference is vital for giving a brand a competitive edge. But the growing belief in “data-only solutions” means we drive it out of the marketplace.

If everything ends up looking the same and feeling the same, markets stagnate.
advertising  Steve_Jobs  creativity  human_ingenuity  data  massive_data_sets  data_driven  brands  emotional_connections  persuasion  ingenuity  daring  algorithms 
february 2018 by jerryking
How Retailers Can Thrive in the Age of Amazon - WSJ
By Stephen Moore
Dec. 15, 2017

How can a retailer flourish in such a daunting environment? By providing “emotional fulfillment,” = the joy customers take in seeing, touching, sniffing and testing the product before they pull out the credit card. A computer can’t match that experience...“We are social animals. We aren’t robots who are going to make all our purchases from robots.”

Somewhat counterintuitively....e-commerce is “not our enemy” but is becoming complementary to retail. Here’s his challenge to anyone who thinks digital sales are set to crush the old analog kind: ...If that isn’t enough, he adds: “Guess what’s one of our most successful stores we just opened up three months ago? Amazon. They already mastered online book sales. Why are they creating a physical presence? Because they know they need to connect and fuse with you as a consumer.” That’s what he means by emotional fulfillment.

He sketches out a strategy for retail in the digital age. It starts with making the mall an appealing place to visit. Parking is free, he says, and the stores are full of helpful employees. “We tell our retailers that one of the primary value added of retail shopping is the expertise that the salesclerks can offer customers,” he says, “They better be knowledgeable about what they are selling, or people will go online or to a discount store.” He urges his tenants to pay well more than the minimum wage to attract better employees, and he says most of them do
retailers  Amazon  contra-Amazon  shopping_malls  e-commerce  bricks-and-mortar  emotional_connections 
january 2018 by jerryking
Procter & Gamble vs. Nelson Peltz: A Battle for the Future of Big Brands - WSJ
By Sharon Terlep
Oct. 8, 2017

Activist investor Nelson Peltz, who wants P&G to radically revise its strategy, argues the success of Ms. Francisco’s unit is the exception. He says the Cincinnati giant, hopelessly mired in the past, should shift to smaller, niche brands disconnected from its marquee products, pull in talent from the outside and split into three independent units.

“All the action today is local. It’s these small brands. It’s what the millennials want,” the 75-year-old investor said. “They want a brand with emotion, a brand that’s got a story behind it, a brand that brings value to the environment or is organic.”...P&G stands out as the largest company to face off against an activist investor.....

Many the world’s leading consumer-products companies, which once made the goods that stocked supermarket shelves the world over, have found it hard to adapt to rapidly shifting consumer tastes and the rise of smaller brands. The outcome of the Peltz-P&G battle will help determine the industry’s future direction.....P&G executives have transformed the company into a leaner organization. They say the future lies in the same fundamentals that guided the company for 180 years: huge brands such as Tide and Gillette that spin off products so effective they dominate their category.

“Declaring big brands dead and buried just because there is new media and a new generation is wrong,” said P&G’s lead independent director, Jim McNerney, the former chief executive of Boeing Co. and 3M Co. “Our new world is big brands presented in different ways through different media.”

Mr. McNerney argues that Mr. Peltz, who has had directorships at H.J. Heinz Co. and Oreo maker Mondelez International Inc., is trying to apply a formula that works in food, which is more susceptible to shifting consumer whims, but not for packaged goods such as diapers and dish soap.
P&G  brands  China  localization  shareholder_activism  Nelson_Peltz  shifting_tastes  CPG  emotional_connections 
october 2017 by jerryking
Retailers must innovate and adapt to thrive in the age of Amazon
JUNE 26, 2017 | The Globe and Mail | HARVEY SCHACHTER.

Mr. Stephens does not believe we are seeing the death of retail. But we will need to see retail's reinvention, and soon. At the core will have to be the understanding that we don't need physical stores for distribution of goods, as Amazon has shown. But we will need them for experiences.

To his mind, Amazon is actually not a retailer. It's a data technology and innovation company that succeeds by ignoring the conventional wisdom of retailing and following its own ways. He notes that last year Macy's CEO Terry Lundgren said that while Amazon might pose some threat in apparel sales it would suffer because it was not prepared to handle complexities such as returns of items. But to Amazon, that's just another challenge to be handled by data and technology, as it is showing. When Amazon opened a physical store, it looked at retail through its own eyes and, in an age of mobile devices, eliminated cash registers, checkouts and lineups.

"But Amazon does not want to play in the physical experiences arena. They want to take the friction out of the equation. So if retailers can make the experiences in their stores rich, they can gain an edge," says Mr. Stephens. But most, of course, aren't all that effective for now, even at a basic level of romancing the customer, let alone the redesigned future he is calling for, where stores are redesigned around experiencing the product under consideration.
retailers  innovation  Amazon  Harvey_Schachter  experiential_marketing  Doug_Stephens  emotional_connections  contra-Amazon  slight_edge  physical_experiences 
september 2017 by jerryking
Benevolent Bacon? Nestle And Unilever Gobble Up Niche Brands - WSJ
By Saabira Chaudhuri
Sept. 7, 2017

The global packaged-food industry is facing fierce competition from a burgeoning number of small, but high-growth food and beverage brands. These brands have struck a chord with consumers looking for locally produced or more healthy, natural choices.

Amid this shift, sales from traditional players have flagged, spurring consolidation, cost cutting and restructuring.

Unilever fended off an unsolicited takeover by Kraft Heinz Co. earlier this year. Activist investor Dan Loeb’s Third Point hedge fund in June disclosed a major stake in Nestlé, calling for changes in strategy to improve shareholder returns. In response, the two consumer-goods firms have focused on cost cutting and promises to boost dividends, while going on the hunt for nimbler food and beverage brands with the potential to accelerate growth.

‘We’re experiencing a consumer shift toward plant-based proteins.’
—Nestlé USA Chief Executive Paul Grimwood
Nestlé’s deal to buy Sweet Earth comes less than three months after it bought a stake in subscription-meals company Freshly, which sells healthy, prepared meals to consumers across the U.S.

Moss Landing, Calif.-based Sweet Earth bills itself as a natural, ethical, environmentally conscious company that substitutes plant proteins for animal ones in meals like curries, stir fries, breakfast wraps, burgers and pasta. Founded in 2011, Sweet Earth is available in more than 10,000 stores in the U.S. It is stocked at independent natural grocers, as well as bigger chains like Amazon.com Inc.’s Whole Foods, Target Corp. , Kroger Co. and Wal-Mart Stores Inc.

“We’re experiencing a consumer shift toward plant-based proteins,” said Paul Grimwood, chief executive of Nestlé’s U.S. arm. Plant-based food, as a sector, is growing at double-digit percentages rates, Nestlé said.
Big_Food  brands  CPG  emotional_connections  Unilever  niches  mergers_&_acquisitions  M&A  Nestlé  shifting_tastes  start_ups  large_companies  Fortune_500  plant-based  healthy_lifestyles 
september 2017 by jerryking
Mental bias leaves us unprepared for disaster
August 14, 2017 | Financial Times | Tim Harford.

Even if we could clearly see a crisis coming, would it have made a difference?

The 2004 storm, Hurricane Ivan, weakened and turned aside before striking New Orleans. The city was thus given almost a full year's warning of the gaps in its defences. The near miss led to much discussion but little action.

When Hurricane Katrina hit the city, evacuation proved as impractical and the Superdome as inadequate as had been expected. The levees broke in more than 50 places, and about 1,500 people died. New Orleans was gutted. It was an awful failure but surely not a failure of forecasting.

Robert Meyer and Howard Kunreuther in The Ostrich Paradox argue that it is common for institutions and ordinary citizens to make poor decisions in the face of foreseeable natural disasters, sometimes with tragic results.

There are many reasons for this, including corruption, perverse incentives or political expediency. But the authors focus on psychological explanations. They identify cognitive rules of thumb that normally work well but serve us poorly in preparing for extreme events.

One such mental shortcut is what the authors term the “amnesia bias”, a tendency to focus on recent experience (i.e. "disaster myopia" the human tendency to dismiss long-ago events as irrelevant, to believe This Time is Different and ignore what is not under one’s nose). We remember more distant catastrophes but we do not feel them viscerally. For example, many people bought flood insurance after watching the tragedy of Hurricane Katrina unfold, but within three years demand for flood insurance had fallen back to pre-Katrina levels.

We cut the same cognitive corners in finance. There are many historical examples of manias and panics but, while most of us know something about the great crash of 1929, or the tulip mania of 1637, those events have no emotional heft. Even the dotcom bubble of 1999-2001, which should at least have reminded everyone that financial markets do not always give sensible price signals, failed to make much impact on how regulators and market participants behaved. Six years was long enough for the lesson to lose its sting.

Another rule of thumb is “optimism bias”. We are often too optimistic, at least about our personal situation, even in the midst of a more generalized pessimism. In 1980, the psychologist Neil Weinstein published a study showing that people did not dwell on risks such as cancer or divorce. Yes, these things happen, Professor Weinstein’s subjects told him: they just won’t happen to me.

The same tendency was on display as Hurricane Sandy closed in on New Jersey in 2012. Robert Meyer found that residents of Atlantic City reckoned that the chance of being hit was more than 80 per cent. That was too gloomy: the National Hurricane Center put it at 32 per cent. Yet few people had plans to evacuate, and even those who had storm shutters often had no intention of installing them.

Surely even an optimist should have taken the precautions of installing the storm shutters? Why buy storm shutters if you do not erect them when a storm is coming? Messrs Meyer and Kunreuther point to “single action bias”: confronted with a worrying situation, taking one or two positive steps often feels enough. If you have already bought extra groceries and refuelled the family car, surely putting up cumbersome storm shutters is unnecessary?

Reading the psychological literature on heuristics and bias sometimes makes one feel too pessimistic. We do not always blunder. Individuals can make smart decisions, whether confronted with a hurricane or a retirement savings account. Financial markets do not often lose their minds. If they did, active investment managers might find it a little easier to outperform the tracker funds. Governments, too, can learn lessons and erect barriers against future trouble.

Still, because things often do work well, we forget. The old hands retire; bad memories lose their jolt; we grow cynical about false alarms. Yesterday’s prudence is today’s health-and-safety-gone-mad. Small wonder that, 10 years on, senior Federal Reserve official Stanley Fischer is having to warn against “extremely dangerous and extremely short-sighted” efforts to dismantle financial regulations. All of us, from time to time, prefer to stick our heads in the sand.
amnesia_bias  biases  books  complacency  disasters  disaster_myopia  dotcom  emotional_connections  financial_markets  historical_amnesia  lessons_learned  manias  natural_calamities  optimism_bias  outperformance  overoptimism  panics  paradoxes  perverse_incentives  precaution  recency_bias  short-sightedness  single_action_bias  Tim_Harford  unforeseen  unprepared 
august 2017 by jerryking
Now at Saks: Salt Rooms, a Bootcamp and a Peek at Retail’s Future - The New York Times
By DAVID GELLES AUG. 4, 2017

Venerable department store was dealing with the upheavals throttling the retail industry. As stores around the country reckon with Amazon.com, discount chains and changing consumer habits, they are turning to “experiential” offerings that entice people to enter their doors..... “Selling stuff in stores is not the answer,” he said. “You have to build an emotional connection with them. Where else can you take a fitness class and buy a Chanel handbag?”

It isn’t clear how many of Saks’s discerning clientele are actually interested in getting a lemon scrub after purchasing a $5,100 Alexander McQueen dress. During multiple visits over the past week, The Wellery was sparsely populated.
retailers  Saks  shareholder_activism  future  department_stores  experiential_marketing  wellness  Nordstrom  Macy's  emotional_connections  experimentation  bootcamps  Amazon  shifting_tastes  contra-Amazon  dislocations 
august 2017 by jerryking
Giving Away Your Billion
JUNE 6, 2017 | The New York Times | David Brooks.

Recently Brooks has been reading the Giving Pledge letters. These are the letters that rich people write when they join Warren Buffett’s Giving Pledge campaign. They take the pledge, promising to give away most of their wealth during their lifetime, and then they write letters describing their giving philosophy......Most of the letter writers started poor or middle class. They don’t believe in family dynasties and sometimes argue that they would ruin their kids’ lives if they left them a mountain of money. Schools and universities are the most common recipients of their generosity, followed by medical research and Jewish cultural institutions. A ridiculously disproportionate percentage of the Giving Pledge philanthropists are Jewish.......What would David Brooks do if he had a billion bucks to use for good? He’d start with the premise that the most important task before us is to reweave the social fabric. People in disorganized neighbourhoods need to grow up enmeshed in the loving relationships that will help them rise. The elites need to be reintegrated with their own countrymen. .....Only loving relationships transform lives, and such relationships can be formed only in small groups. Thus, I’d use my imaginary billion to seed 25-person collectives around the country.....The collectives would hit the four pressure points required for personal transformation:

Heart: By nurturing deep friendships, they would give people the secure emotional connections they need to make daring explorations.

Hands: Members would get in the habit of performing small tasks of service and self-control for one another, thus engraving the habits of citizenship and good character.

Head: Each collective would have a curriculum, a set of biographical and reflective readings, to help members come up with their own life philosophies, to help them master the intellectual virtues required for public debate.

Soul: In a busy world, members would discuss fundamental issues of life’s purpose, so that they might possess the spiritual true north that orients a life.
social_fabric  David_Brooks  philanthropy  moguls  high_net_worth  Warren_Buffett  elitism  collectives  personal_transformation  plutocracies  plutocrats  disorganization  daring  relationships  emotional_connections  soul  North_Star  virtues  engaged_citizenry  civics  Jewish  biographies  friendships  self-reflective  giving 
june 2017 by jerryking
Retail Instincts Propel Investor to Venture Capitalism’s Top Tier - The New York Times
By KATIE BENNER and MICHAEL J. de la MERCEDMARCH 26, 2017

Ms. Green is an unorthodox venture capitalist for several reasons. Apart from having never worked at a venture capital firm before starting her own in 2012, she is also a woman in a male-dominated field. (Of the top 20 venture investors this year, only two were women.) And unlike many generalist venture investors, who work in a range of areas, Ms. Green focuses specifically on commerce and other retail-related start-ups.....Ms. Green’s roots in retail run deep. She began her career as an accountant auditing retailers. In the late 1990s, she covered those companies as a stock analyst for Montgomery Securities, studying wonky measurements like customer traffic in retail locations and a store’s profitability per square foot. She also observed the rise of brands like Abercrombie & Fitch, Coach and Ugg.

She soon concluded that online commerce would underpin the next generation of important retail brands, but that consumers would not rely on just one way to shop. With the rise of Amazon and other online retailers, Ms. Green saw more bankruptcy filings from traditional retailers, as well as news of store closings and reports of market share shifts. But she also saw stores do well when companies could make an emotional connection with shoppers and better analyze their behavior.

“Retail is now totally propelled by consumers and their needs,” she said. “People can buy what they want in any way that they want it. That trend started a long time ago, and it has really changed everything.”.....In 2003, Ms. Green decided to jump from analyzing this shift to investing in it. For a time, she worked as a consultant to a private equity firm before turning to venture capital because of her interest in young companies. In 2010, she raised an angel investment fund to make one-off investments in companies like Birchbox, a cosmetics subscription service, and Warby Parker, an eyeglasses retailer, while she studied how to raise a venture fund. In 2012, Ms. Green raised a $40 million venture fund. The investment firm Cendana Capital contributed $10 million, despite the fact that she had never worked as a traditional investor or tech entrepreneur.
venture_capital  vc  women  retailers  angels  exits  e-commerce  emotional_commitment  brands  emotional_connections  Kirsten_Green  Birchbox  Warby_Parker  top-tier  investors 
march 2017 by jerryking
Amazon’s Next Big Move: Take Over the Mall
November 14, 2016 | Technology Review | by Nicholas Carr .

What’s Amazon doing with Amazon Books?...Wall Street analysts and tech writers have filled the void with conjecture. The stores are all about selling gadgets, goes one popular idea, with the books there just to lure customers. The stores are data-gathering machines, goes another, enabling Amazon to extend its tracking of customers into the physical world. Or maybe the company’s secret plan is to use the stores to promote its cloud computing operation, Amazon Web Services, to other retailers....The theories are intriguing, and they may contain bits of truth. But the real impetus behind the stores is probably much simpler: Amazon wants to sell more books....Not long ago, the common wisdom held that Amazon would remake the book business in its own image. Its Web store would kill off bookstores, and its Kindle would render physical books obsolete. ...
“Pure-play Web retailing is not sustainable.”Bezos underestimated the allure of bricks and paper. With his bookstore chain, he now seems to be admitting that if Amazon is to expand its share of the book market, it will need to invest in bricks as well as bits....Having come up short in its plan to supplant books and bookstores with digital alternatives, the company is taking its revenge by attacking traditional bookshops on their own turf. Unlike the mom-and-pop independents, or even the struggling Barnes & Noble chain, Amazon has the scale and the cash required to wage a war of attrition. It can sustain losses on its stores for a long time.....Amazon Books may be just the vanguard of a much broader push into brick-and-mortar retailing by the company. In October, the Wall Street Journal revealed that Amazon is planning to open a chain of convenience stores, mainly for groceries, along with drive-in depots where consumers will be able to pick up merchandise ordered online. It has also begun rolling out small “pop-up” stores to hawk its electronic devices. It already has more than two dozen such kiosks in malls around the country, and dozens more are said to be in the works.

Even after 20 years of rapid growth, e-commerce still accounts for less than 10 percent of total retail sales. And now the rise of mobile computing places new constraints on Web stores.At the same time, the smartphone, with its apps, its messaging platforms, and its constant connectivity, gives retailers more ways to communicate with and influence customers, even when they’re shopping in stores. This is why the big trend in retailing today is toward “omnichannel” strategies, which blend physical stores, Web stores, and mobile apps in a way that makes the most of the convenience of smartphones and overcomes their limitations.....Beyond its expertise in Web sales, Amazon brings distinctive strengths to an omnichannel operation. Its vast, efficient network of warehouses and distribution centers can supply outlets and process returns. It has, thanks to the largesse and patience of its investors, a reservoir of cheap capital that it can draw on to fund a building spree. And it has a much-admired brand. What Amazon lacks is experience in the touchy-feely world of traditional retailing (e.g. merchandising??). The company’s proficiency in software and data crunching is unquestioned. Its people skills are another matter..... another of the store’s goals: to promote the Prime program, which is central to Amazon’s strategy of locking in customers....I feel let down. I had convinced myself that I was going to witness something fresh and unexpected at Amazon Books. What I found was an annex to a website—a store that, despite the bricks and paper, retains the coldness of the virtual.
e-commerce  shopping_malls  Amazon  Amazon_Prime  books  sterile  soulless  Nicholas_Carr  Amazon_Books  bricks-and-mortar  Jeff_Bezos  pure-plays  bookstores  omnichannel  strengths  smartphones  mobile_applications  loyalty_management  impersonal  people_skills  Achilles’_heel  weaknesses  convenience_stores  pop-ups  kiosks  voids  merchandising  AWS  physical_world  mom-and-pop  coldness  touchy-feely  cyberphysical  emotional_connections  empathy_vacuum  Amazon_Go  cashierless  locked_in  distribution_centres 
february 2017 by jerryking
Why many high-performing sports teams are losing money at the gate - Vision Critical Blog
February 25, 2015
By Chris Bondarenko

Here are four reasons why many high performing teams aren’t seeing the financial gains they once enjoyed:

1. MOST TEAMS LACK AN EMOTIONAL CONNECTION WITH FANS.

...If sports teams want to stop losing money at the gates, they need to better understand what triggers the passion of fans and integrate them into the brand experience. Teams can only do that if they truly know their fans. Building that connection requires showing fans that they matter—that the team cares and is listening to them—and will in turn deliver on that brand experience.

2. IN-PERSON EXPERIENCE DOESN’T MATCH FANS’ CONSUMPTION HABITS.

If teams want fans to become more engaged, they need to go where the fans are—the digital realm. Fans today simply do not consume sports in the same way they used to. Teams need to catch up....online consumption of sports videos grew 388 percent year-over-year from 2013 to 2014. Mobile and social consumption among fans is also growing rapidly....The rise of cloud, mobile and social technologies means sports teams need to reconsider not just how they’re distributing their content but also how they’re connecting with fans. The tools teams use to interact with people must be congruent and complementary to the habits, behavior and expectations of the empowered fan.

3. TEAMS FAIL TO ENGAGE FANS CONTINUOUSLY.

A study on fan loyalty revealed that although sports are seasonal, most fans follow their teams throughout the entire year, even in the off-season.. during preseason and the trade deadline....Teams need a game plan on how to engage with their fans consistently.

4. FANS DON’T FEEL HEARD AND UNDERSTOOD.only 45 percent of fans agreed their teams are interested in hearing their opinions. Even more troubling: only 33 percent agreed that that their teams listens to their opinion.

The lack of engagement is dangerous because fan loyalty isn’t what it used to be. Twenty-two percent of sports fans we talked to said they are willing to switch teams, while 30 percent admitted to already doing so in the past year.
fans  fan_engagement  LBMA  sports  gate_revenue  NBA  MLB  rugby  emotional_connections 
april 2016 by jerryking
Small Food Brands, Big Successes - The New York Times
AUG. 24, 2015 | NYT | By STEPHANIE STROM.

New companies are flourishing, encroaching on market share and gaining national distribution as shoppers reach for products that tout themselves as novel, local, rarefied or containing better ingredients.

Total sales are still dominated by big brands, but the investment bank Jefferies reports that the brands lost market share in 42 of 54 categories, from baby food to yogurt, over the last five years as new products gained. Think of Chobani yogurt, which went from no sales to more than $1 billion in revenue in less than five years.
food  brands  start_ups  small_business  niches  boutiques  condiments  entrepreneurship  Chobani  emotional_connections 
august 2015 by jerryking
How Can Big Food Compete Against Fresher Rivals? - WSJ
By ANNIE GASPARRO
Updated July 12, 2015 1

it is a two-part problem. No. 1, the consumer and competitive marketplace is definitely shifting. For example, quality has evolved beyond just good ingredients, preparation and packaging. Basic quality is a given now; many consumers are looking for something extra: less mass-produced, natural, local.

No. 2, iconic food companies and their mature brands are not responding effectively. Large, established food companies and their brands are being managed as portfolios of revenue and profit streams with a short-term financial orientation, and not as companies that produce food products. Small companies, on the other hand, are being created and managed by people with a food orientation and passion.
CPG  Kraft  emotional_connections  Nestlé  Coca-Cola  food  Pepsi  Big_Food  trends  Kellogg  passions  gourmet  foodies  decreasing_returns_to_scale  shifting_tastes  small_business  SMB 
july 2015 by jerryking
Don't network, make contact
Feb. 11 2004 | The Globe and Mail | BARBARA MOSES.

Good networking is a two-way street. Skilled networkers don't think of themselves as networking but rather as exchanging information. Whenever someone tells me about a great networking experience they had, I ask them two questions. "What did you learn from them?" "What information did you pass on?"

In good networking there always is a mutual connection. Done well, networking is like the most graceful dancing. Both parties are stimulated by the interaction. No one feels used. At its best, there is a deeply satisfying emotional and intellectual connection. Done poorly, nothing is more off-putting.

Good networkers are "wired," with broad connections that range beyond their own professional boundaries and into all walks of life. They cultivate relationships with people who know how to get things done. Like good mentors, they are genuinely curious about people and what they are thinking, and like to make things happen for others. They like to bring together interesting people and ideas -- and they are as proud of making things happen for others as they are of the number of names in their personal organizer.
networking  Barbara_Moses  serving_others  personal_connections  emotional_connections 
december 2013 by jerryking
The 9 Characteristics Of A Strong Brand:
October 26, 2008 | Branding Strategy Insider| Posted by Martin Roll.
1. A brand drives shareholder value
2. The brand is led by the boardroom and managed by brand marketers with an active buy-in from all stakeholders
3. The brand is a fully integrated part of the entire organisation aligned around multiple touch points
4. The brand can be valued in financial terms and must reside on the asset side of the balance sheet
5. The brand can used as collateral for financial loans and can be bought and sold as an asset
6. Customers are willing to pay a substantial and consistent price premium for the brand versus a competing product and service
7. Customers associate themselves strongly with the brand, its attributes, values and personality, and they fully buy into the concept which is often characterized by a very emotional and intangible relationship (higher customer loyalty)
8. Customers are loyal to the brand and would actively seek it and buy it despite several other reasonable and often cheaper options available (higher customer retention rate)
9. A brand is a trademark and marquee (logo, shape, colour etc) which is fiercely and pro-actively protected by the company and its legal advisors
brand_purpose  brands  branding  ksfs  large_companies  Fortune_500  emotional_connections  goodwill  customer_loyalty  brand_equity  boards_&_directors_&_governance  logos  trademarks  intangibles  shareholder_value  assets  collateral 
november 2012 by jerryking
Seth's Blog: define: Brand
define: Brand

Here's my definition: A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.

A brand's value is merely the sum total of how much extra people will pay, or how often they choose, the expectations, memories, stories and relationships of one brand over the alternatives.
Seth_Godin  brands  branding  brand_equity  emotional_connections 
july 2012 by jerryking
Due diligence
Apr. 1997 | CMA - the Management Accounting Magazine. 71.3 (): p17.| James G. Webster.

...Woodgate's own process of due diligence started with market conditions and customers, and then worked back through the product line to manufacturing and technology issues and, finally, to detailed financial information, which he believes was the right sequence for someone coming in from the outside.

They conducted an in-depth analysis of the market, sales history, channels of distribution, competition, customer base, and growth opportunities. The profitability and cash flow generated by each product line was analysed, as was the need for product rationalization and investment in technology....After comparing the company's products with those of the competition and interviewing four of Allanson's customers, it was concluded that the company's products were competitive in terms of quality, cost and technology. In fact, Allanson dominated the Canadian market and had a significant share of the U.S. market....Analysis of the size and dynamics of the electric sign industry was based mainly on a detailed report contained in Woodgate's business plan. The report's findings indicated that the market for the company's electric sign products had stabilized and there was reasonable growth potential for Allanson. The statistics and premises of this report were confirmed by independent sources....Woodgate says his most important asset throughout the process was his team of consultants. "Perhaps the greatest test of their skills lies in the last five per cent of the due diligence process when important problems sometimes arise with the potential to kill the deal. The buyer, at this stage, has become emotionally committed to the deal and is in no position to assess danger in a balanced, thoughtful way.
buying_a_business  cash_flows  dispassion  due_diligence  emotional_commitment  emotional_connections  howto  RoyNat  unsentimental 
november 2011 by jerryking
The New Phrase for Indulgence: ‘Passionate Investing’ - The Wealth Report - WSJ
* May 17, 2010, 11:47 By Robert Frank

“Wealthy individuals still have money but now they are combining investment with improving the quality of their lives through investing in assets with which they have emotional attachments,” says Susan Ellis, financial analyst at Datamonitor. “It is a way to invest and spend simultaneously while adding to the richness of their lives,” she says.

She adds that the wealthy are seeking “safe havens” that they can also enjoy, like jewelry and art.

She concedes that “the line between investment in tangibles and luxury expenditure can sometimes be blurred, particularly in a period of market uncertainty.” Yet she says the jump in some luxury sales is owed in part to “passionate investing.”

I agree that some of the the wealthy, having watched their millions or more disappear in 2008, would much rather lose money on things they can drink, drive or wear. But I’m not sure they see it as “investing.” To them, it could be a more simple matter of spending being far more enjoyable than losing an equivalent amount in the markets.
high_net_worth  Robert_Frank  passions  assets  emotional_commitment  emotional_connections  investors 
may 2010 by jerryking
Op-Ed Columnist - The Limits of Policy - NYTimes.com
May 3, 2010 | New York Times | By DAVID BROOKS. As Brooks
notes, "The influence of politics and policy is usually swamped by the
influence of culture, ethnicity, psychology and a dozen other factors."
" So when we’re arguing about politics, we should be aware of how
policy fits into the larger scheme of cultural and social influences.
Bad policy can decimate the social fabric, but good policy can only
modestly improve it. Therefore, the rules of policy-making should be:
(1) don’t promulgate policies that destroy social bonds. If tribes of
people are exiled from their homelands and shipped to strange, arid
lands, bad outcomes result for generations. (2), try to establish basic
security. If the govt. can establish a basic level of economic and
physical security, people may create a culture of achievement — if
you’re lucky. (3), try to use policy to strengthen relationships. The
best policies, like good preschool and military service, fortify
emotional bonds."
David_Brooks  emotional_connections  limitations  policymaking  relationships  social_fabric  tribes 
may 2010 by jerryking
Whatever the pitch, aim for the emotions
Apr. 09, 2009 | Globe and Mail Blog Post | by Harvey
Schachter. There are nine types of stories that arouse people's
interest, according to author and consultant Lois Kelly. On the How To
Change The World blog, she advises when pitching to others - be it in
customer advertising, proposals to investors, ideas to the media, or
appeals to employees or partners - you should tap into the strong
storylines that we are predisposed to enjoy:
pitches  presentations  Communicating_&_Connecting  emotional_connections  storytelling  proposals  advertising  Harvey_Schachter 
february 2010 by jerryking
Too many pots
Sept. 2003 | Profit. | by Rick Spence. Abel and Cain fell
into a common trap: targeting the broadest market possible. By trying to
please too many people at once, they were unable to make deep
connections with customers and event sponsors. Sure, their potential
market was huge, but as Abel admits, "We weren't providing enough
value." Niche markets pay better than mass markets; it's a classic
entrepreneurial lesson, but one that many people learn the hard way. If
one were starting a beverage company today, find the niches Pepsi and
Coke don't own - as Cott Corp. did with bargain-priced house brands.
Unlike the markets Cain and Abel had previously wooed, the people who
attended these events had pressing information and self-development
needs, and were willing to pay for events that fulfilled those needs.
"Specializing opened up markets that we could never reach before," says
Abel. "There turns out to be no shortage of niche markets. The closer
you look, the more you see."
ProQuest  Rick_Spence  entrepreneur  market_segmentation  specialization  targeting  lessons_learned  partnerships  value_propositions  niches  Pepsi  Cott  Coca-Cola  customer_segmentation  mass_markets  emotional_connections  market_intelligence  private_information 
february 2010 by jerryking
Financial Adviser: A New Landscape Of Wealth Managers - Financial Adviser - WSJ
September 28, 2009 | Wall Street Journal | by Kevin Noblet.
"Some of the biggest winners were smaller old-line private banking
outfits, which benefited as last fall’s financial crisis rocked some of
the giants to their core. Bessemer Trust, formed more than 100 years ago
to manage the money of the Phipps family, partners of Andrew Carnegie,
shot up to No. 13 in the ranking from No. 20 last year. Northern Trust,
long a favorite home for Midwest fortunes, climbed from No. 13 to No. 8.
Fiduciary Trust, started during the Great Depression to serve the
anxious rich, leaped to No. 29 from 37."
wealth_management  high_net_worth  financial_advisors  Bessemer_Trust  boutiques  competitive_landscape  decreasing_returns_to_scale  economic_downturn  event-driven  emotional_connections 
september 2009 by jerryking
Top entrepreneurs talk about how to keep your customers, and find opportunities, in tough economic times
MAY 11, 2009 | Wall Street Journal | 5-person panel discussion
moderated by Gwendolyn Bounds. Wendy questions the group of
entrepreneurs under the theme "What’s the secret of being an
entrepreneur in these hard economic times?"....trying to stand out from the crowd. I think the best one we did, which we launched when it was about six degrees outside, was a marketing campaign that says, what this town could really use right now is a good bowl of chicken soup.

Chicken soup is one of the great comfort foods in every single culture, and we think that we need to be selling comfort right now. And chicken soup also is a way to define the restaurant. .....people are always looking for joy. They’re always looking to be connected. They’re always looking to feel generous. So Danny’s insight, which is so brilliant, is for the cost of a bowl of chicken soup, you get to feel generous. You get to feel connected. You get to feel part of the community. That story is easy to tell because we all have a memory of chicken soup growing up.......Marketing is not this blank check that lets you sell whatever you want. The challenge that we’re facing, as we enter this serious recession, is not how do we stop doing everything. It’s how do we create experiences and stories, interactions, that don’t necessarily cost a lot of money, but create value for everyone concerned.......I think that for an entrepreneur who is interested and passionate about creating something in the technology space, whether it’s a device or a service or a platform, this is an extraordinary time, because there’s an enormous lull in the Fortune 1000 with respect to innovation and new ideation. ........on the equity side, where they don’t have these types of opportunities, we look for innovative companies that actually create a disruption. The simple thing is, if you can offer the environment where we can lower your costs and improve quality, it’s a no-brainer.

But in general, we have to make certain that these entrepreneurs really know the industry, they know the customers, they know the competition and most importantly, they know thyself, they know what they can and cannot do.

So it’s interesting when you play across the capital structure, how you bifurcate this, and I think it all has to do with innovation and creating something that doesn’t exist, that fits a pent-up need.
disruption  self-awareness  Gwendolyn_Bounds  Seth_Godin  Danny_Meyer  entrepreneur  economic_downturn  hard_times  attention  innovation  ideation  ideas  underwriting  geographic_ingredient_branding  Buy_American  craftsmanship  soups  marketing  storytelling  lingerie  intimate_apparel  idea_generation  emotional_connections  small_batch  generosity  joy 
may 2009 by jerryking

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