August 26, 2019
From Deepak’s neuroscience desk, a look at how happier brains are better equipped to respond to negative things. And if you need a way to address those negative happiness-preventing emotions, new research shows that meditation and yoga are effective for doing so.
BRAND & MARKETING
- HBR shares a fantastic deep-dive on the dangers of categorical thinking, with real implications for everything from decision-making to segmentation efforts.
- Two researchers from MIT’s Leadership Center outline three ways to build a culture of collaborative innovation, and recent neuroscience research from Harvard yields eight best practices for creating a culture of trust.
- One brand consultant observes that the struggles and declines cereal brands are facing are self-inflicted and due to marketing mistakes.
- New McKinsey research finds that executives at exactly zero companies that disregarded an analysis of employee mind-sets during a change program rated the transformation as “extremely successful.” More on their recommended approach to leading and driving large-scale organizational change here.
- Kantar’s Jeremy Sy provides insight on Asia’s rapidly ageing population, which represents a golden growth opportunity for companies who can learn how to properly surf what many are calling the region’s “silver tsunami.”
- Facebook is opening coffee shops – “Facebook Cafés” – in the UK later this year, which speaks to the branded city of the future we may soon be living in.
- Just as you can’t make a cow grow just by weighing it, what gets measured gets done – for better or worse. Two experts cite Wells Fargo’s fate in warning against letting metrics undermine your business. Related, the case for better measurement around values-based marketing, given its predominance.
- Entrepreneur explains why execution is more important than strategy.
- Kantar’s Graham Staplehurst cites BrandZ and US Monitor research to demonstrate the growing role of purpose in driving brand and business value, and recommends circularity efforts as an effective and appropriate tactic for embodying it.
- One industry leaders believes that any marketer wishing to succeed should get their “doctorate in pop culture” to what’s really motivating for and matters to the masses
RETAIL, SALES & SHOPPER
- Wayfair has leaned into its digital DNA to create its first brick-and-mortar store, including its Room Planner VR headset tool which helps customers visualize home designs with the company’s furniture.
- DTC brand Beauty Pie combines the psychology of consumer behavior and qualitative research to gain rich user insights that power its subscription model.
- Through establishment of a new “Ikea Home smart” business unit, Ikea has made a major bet on smart home tech as a source of new revenue.\Amazon is testing a ‘Top Brand’ badge for select sellers. If eventually scaled to all products on the platform, it may become more attractive to both consumers and big brands, but may alienate smaller sellers.\Everything old is new again as even DTCs embrace omnichannel solutions to servicing customer needs, meeting shoppers where they are (i.e. offline), and delivering great experiences.\Recognizing that a personal touch and customer service remain critical to retail experiences, shopping platform Shopify has launched Shopify Chat, a new tool that allows business owners to more easily chat with their customers, with plans to scale to mobile and text interfaces in the future.
- eMarketer explores what’s behind the emergence of re-commerce, as evidenced by The RealReal’s recent growth trajectory.
- Target has just introduced a new high-quality private food line, Good & Gather, to build its food business, build customer loyalty, and bolster its presence within grocery. This comes as Target’s pickup and same-day delivery offerings are propelling its digital sales.
ON THE HORIZON
- Chief executives from the Business Roundtable, including the leaders of Apple and JPMorgan Chase, issued a provocative statement last week, arguing that companies must also invest in employees and deliver value to customers. But it lacks any meaningful call to action, leading one Harvard professor to wonder whether these companies actually mean it. And, will shareholders really make way for other stakeholders? Still, that companies must exist for something more than enriching shareholders is supported by findings of ongoing research on corporate purpose, which proves that purpose and profit tend to go together.
- Also, the case for data analysis, privacy and security as the most critical skills for tomorrow’s CMO. That said, author Bradley Staats reminds us that the key to professional success is to never stop learning.
- JetBlue now offers Pepsi products on its flights instead of Coca-Cola’s, and has made changes to an iconic sign to celebrate this new partnership.
- Amazon has invested in India’s Future Coupons to expand its presence in the country’s brick and mortar space, which drives much of the sales in the nation.
- New Glassdoor research confirms that employee and customer satisfaction are inextricably linked.
- AB InBev’s ZX Ventures unit prioritizes investments in premium but accessible brands in big but stretchy categories.
- A reminder on branding best practices in the ever-proliferating and fast-moving age of social media.
- John Lewis, Ikea and M&S top YouGov’s latest UK brand health ranking.
- CMOs are losing interest in CX…but that’s mostly because separate roles are emerging to own this critical driver of growth.
- Telcos offer helpful lessons for nailing brand strategy.
- As WeWork pursues an IPO, NYU professor Scott Galloway calls the company WeWTF, and says that any Wall Street analyst who believes it’s worth over $10 billion is lying, stupid, or both.