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Tim Peter Thinks

Tim Peter

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February 15, 2018

Deal With It: Digital Makes Marketing Easier for Everyone, Which Makes Marketing Harder For Everyone (Thinks Out Loud Episode 213)

February 15, 2018 | By | No Comments

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Digital Makes Marketing Easier for Everyone, Which Makes Marketing Harder For Everyone (Thinks Out Loud Episode 213): Team collaborating on digital marketing

Deal With It: Digital Makes Marketing Easier for Everyone, Which Makes Marketing Harder For Everyone (Thinks Out Loud Episode 213) – Headlines and Show Notes

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Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 14m 5s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

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February 8, 2018

Want to Beat the Machines? Don’t Be a Machine (Thinks Out Loud Episode 212)

February 8, 2018 | By | No Comments

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To beat the machines, don't be a machine: Team collaborating to create customer experiences

Want to Beat the Machines? Don’t Be a Machine (Thinks Out Loud Episode 212) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 13m 46s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

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January 25, 2018

Where AI Will Affect Sales and Marketing First. And Most (Thinks Out Loud Episode 211)

January 25, 2018 | By | No Comments

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Where AI will affect sales and marketing first: Woman using AI to analyze data quickly

Where AI Will Affect Sales and Marketing First. And Most (Thinks Out Loud Episode 211) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 15m 23s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

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January 18, 2018

5 Top Digital Trends for 2018 (Thinks Out Loud Episode 210)

January 18, 2018 | By | No Comments

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5 Top Digital Trends for 2018 (Thinks Out Loud Episode 210): Company employees reviewing top digital trends

5 Top Digital Trends for 2018 (Thinks Out Loud Episode 210) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

You might also enjoy these past posts:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 15m 38s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

By

January 11, 2018

7 Ways You Can Use AI in B2B Sales and Marketing (Thinks Out Loud Episode 209)

January 11, 2018 | By | No Comments

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7 Ways You Can Use AI in B2B Sales and Marketing: AI in use

7 Ways You Can Use AI in B2B Sales and Marketing (Thinks Out Loud Episode 209) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 12m 32s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

By

January 5, 2018

AI Won’t Steal Your Job: Smart People Who Put AI to Work Will (Thinks Out Loud Episode 208)

January 5, 2018 | By | No Comments

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AI won't steal your job; smart people using AI will: Man interacting with artificial intelligence


AI Won’t Steal Your Job: Smart People Who Put AI to Work Will (Thinks Out Loud Episode 208) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 13m 39s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

AI Won’t Steal Your Job: Smart People Who Put AI to Work Will – Transcription

AI Won’t Steal Your Job: Smart People Who Put AI to Work Will – Introduction

Well hello again everyone and welcome back to Thinks Out Loud, your source for all the digital marketing expertise your business needs. My name is Tim Peter, today is Thursday, January 4, 2018 and this is episode 208 of the big show. Thank you so much for tuning and again I really do appreciate it. I think we’ve got really really great show for you.

AI Won’t Steal Your Job: Smart People Who Put AI to Work Will – Overview

Just before I took a break for the holidays, I recorded an episode called “Will this be the year of AI in digital marketing?” and I got an email from Dave in Orlando — Hi Dave, thanks for emailing — who is the head of sales for company. And he said that AI might be fine for marketing, and it might be fine especially for digital marketing, but it really doesn’t play a big role in sales. Or he really doesn’t see how it plays a role in sales. Because so much of what he does, so much what his team does is, about relationships. It’s about getting to know customers. It’s about spending time with them, building this really, really great relationship that enables you to close the sale. And, obviously, in B2B, it’s very true that relationships play a huge role in this — and likely will for a long time to come. It’s not terribly likely that we just can, in a really complex B2B type sale, say just go put this in your shopping cart or just let the AI handle it. At least not right away.

So, Dave, I agree with you completely on that part. I also think we want to take a step back and talk about what is the threat to you. What is the thing that really might cause you some concern? Because the fact is AI probably isn’t going to steal your job; however, smart people who’re making use of AI and who know how to use AI probably will steal your job and probably will steal your customers.

How AI is Changing Your Job Right Now

Now I want to take a big step back for a moment before I explain why this is, because there are a lot of moving pieces to this. A few weeks back I did an episode that asked the question “Will AI kill your brand?” I did another episode over a year ago that talk about “Voice, VR, AR, and AI and whether they were hype or hope.” And one of the first things I want people to be aware is AI is real, it exists today, it’s something that people make use of every day. You can make use of it right now.

AI is an enormous part of the way Google’s algorithm works and it’s an enormous part of the way YouTube’s algorithm works and it’s an enormous part of the way Facebook’s algorithm works. And if you think that Google and Facebook, for instance are putting a lot of effort into this for no particular reason, I would encourage you to think about that just a little bit differently. Think about all the ways we try to anticipate and analyze and adapt on behalf of our customers every day. Think about how often you do. There’s a lot you need to know about your customer. And a lot of that, a lot of those items that you know really is about data. now you might remember from some past episodes we had one called “why data matters for marketers” and even more importantly the one that was called “AI for marketers: AI makes big data little.” So there are three for four different areas that I can think of off the top of my head where in the sales today — and in marketing and operations and lots of other areas — you rely upon data.

For starters, think about lead scoring models: How effective is your lead scoring today? How quickly are you able to adapt that lead scoring to the needs of customers as they change? Do you understand all the inputs? Do you have a good sense of what actually drives people to make a purchase decision or to engage with you as they go forward?

Think about your content marketing: When you provide content to a customer — and I want to be really clear about this — if you’re a salesperson and you’re sending an email to a customer, do you know that that email is effective? Do you know that that email works? And when you think about your CRM tools, how do you know when it’s most appropriate to contact the customer? How do you know when it’s the best time to reach them? Or actually get them at the moment of need?

Now today we’re relying a lot on data analytics, and when I say today I mean if we look back over the last 10 years or so, there’s been an immense amount of focus around the data and analytics to make your lead scoring work better, to understand how people are engaging with your content, to look at your CRM and see if it is in fact helping drive people down the path.

How AI Might Steal Your Job

But what we see again and again and again as I go in to work with companies, as people I talk to work with companies, etc. we see this problem of they don’t really have a good sense of what data matters or which touch points played a significant role in terms of moving the customer further down the purchase path. That’s a really, really tough problem to figure out. When I should talk to my customer. When I should reach out to them. And with what message. Now smart salespeople do this really well today. They kind of get it intuitively. But they’re not perfect. We all know that, right? There is not a salesperson out there has a close rate of a hundred percent. And if you have one that does, that salesperson is not charging enough. Fundamentally if everyone says “yes” to your product, you’re probably not pricing it correctly.

There’s an opportunity here to understand what’s really working and what’s really helping customers connect with us in a way that says, yeah, this actually solves the problem, this actually helps them make the decision to buy from you. Now that’s where AI is going to play a big role. We’re not suddenly going to turn over sales and marketing operations and everything else to machines. We’re going to have people who understand how to make use of those machines to achieve the right business outcomes, to move people further down the purchase path. To get them to pick up the phone and call you. Or get them to reply to your email. Or get them to text or reach out to one of your salespeople to schedule that next dialogue. And that’s really where the threat — if we can call it that — of AI comes into play for people who are on the sales side or on the operations side. Because worrying about AI instead of seeing it as an opportunity is probably a mistake. When I’m in board rooms talking to C-level folks, they’re all talking about, “what is our company’s AI strategy?” And so the question I have for you is what you is yours? There are tools out there right now. So IBM makes a tool that they called Tone Analyzer that you can test right now. You go out there — I’ll put a link to the show notes — that will allow you to put in a whole bunch of text and it will tell you here’s how people are likely to respond to you, here’s how they are likely to feel after they read that message.

If you think about it, that’s a really powerful powerful tool, because it helps us understand, “yes, this is how we can expect our customers to respond when we say something.” Are we going to inspire them? Are we going to cause them fear? Are we going to make them feel more passionate or joyful about how we might be able to help them? Any of those can be really powerful emotions to move a customer closer to sale. Obviously that’s just a demo. But where that gets really interesting is when you take the data that says, “Wow! We saw people open that email. We saw people return that voicemail. We saw people get in touch with us after we left him a message.” And we use that to feed into the AI from all of our salespeople and show, yeah, this is really working — and build that into the CRM — then you’re going to see immense change. And we’re all ready starting to see it. Because Dave is right in his question: AI isn’t going to steal your job, not by itself. That’s not, we’re not there yet. You’re absolutely right. Dave’s question is spot on. But smart salespeople who know how to use AI to identify prospects and tailor messages to where they are in their buyers journey might steal your job — and frankly probably will. Smart marketers who know how to use AI to make their marketing more effective and more engaging will steal your job. Smart leaders who know how to use AI to identify talent and trends will steal your job. That’s the reality of where we are today. So the reality is AI won’t steal your job; but, smart people who put AI to work will. But only if you let them.

AI Won’t Steal Your Job: Smart People Who Put AI to Work Will – Closing

Now looking at the clock on the wall, we are out of time for this week. I would like to remind you that you can find the show notes for today’s episode — as well as an archive of all past episodes — by going to TimPeter.com/podcast; again, that’s TimPeter.com/podcast. Just look for episode 208. And while you’re there, you can click on the subscribe link in any of the episodes you find there to have Thinks Out Loud delivered to you in your favorite podcatcher every single week. You can also subscribe in iTunes or the Google Play Music Store or Stitcher Radio or whatever your favorite podcatcher happens to be. Just search for Tim Peter Thinks, Tim Peter Thinks Out Loud, or plain old Thinks Out Loud, we should show up for any of those. And if you can provide a positive rating on iTunes for the Google Play Store while you’re there, I would really really appreciate it. You can also contact me by going to Facebook.com/TimPeterAssociates, on Twitter using the Twitter handle @tcpeter, or just like Dave did, by email by sending an email to podcast@TimPeter.com. Again that is podcast@TimPeter.com. With that I want to say thanks again to him, it is very very much appreciated. I hope you have a great weekend, a great week ahead, and I will look forward to catching up with you here on Thinks Out Loud again next week. Until then, take care everybody.

Tim Peter

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December 14, 2017

What Digital Means for the Future of Brands (Thinks Out Loud Episode 206)

December 14, 2017 | By | No Comments

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What Digital Means for the Future of Brands (Thinks Out Loud Episode 206) - Man using touchscreen to interact with brand

What Digital Means for the Future of Brands (Thinks Out Loud Episode 206) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 15m 34s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

What Digital Means for the Future of Brands – Thinks Out Loud Episode 206 (December 14, 2017) Transcript

What Digital Means for the Future of Brands – Introduction

Well, hello again everyone and welcome back to Thinks Out Loud, your source for all the digital marketing expertise your business needs. My name is Tim Peter, today is Thursday, December 14, 2017 and this is episode 206 of the big show. Thank you so much for tuning in. I really do appreciate you hanging with me during the last handful of weeks. The show's been a little bit more irregular, but I will be back next week, then will be off the week after that — I’ll be taking a break for Christmas — and then starting up again full-time in the New Year with weekly episodes coming to you, so I appreciate you hanging around. I appreciate you coming back and listening to the show; I’m just really happy that you're here.

What Digital Means for the Future of Brands – Overview

Now I think we’ve got a really interesting show this week. There's some really cool stuff to talk about. And I want to start by talking about a bunch of random companies that have something in common. You may not have realized it, maybe you did, but you know if you haven’t, just think this through for second. Think about companies like eBay or Etsy or Yelp or Uber or Airbnb. What they all share in common is that they’re all ratings platform. They allowed people to post ratings and reviews and the like that makes it clear whether you want to do business with the person on the other side of that market. And I think that's critically important to understand in terms of how you're going to market your brand and how you market your business as you go forward into 2018 and beyond because, fundamentally, what were seeing from people like eBay, Easy, Yelp, Uber, Airbnb, and others is that they're going to destroy brands, at least in the traditional sense. At their most basic they’re challenging what the purpose of the brand is, what brands do for customers. And that's really important understand.

Now you've probably heard David Ogilvy's famous quote, “a brand is a promise.” You may even have heard it here; it's one that I’ve referred to many times. It’s such a crucial insight about why brands exist. Brands served as a proxy for trust. If you go back to some idyllic, 1950’s holiday with the family driving along Route 66 wouldn’t know where to eat, sleep, or get gasoline once they ventured too far from home. They only knew the products and the services in their local area. But if you put a McDonald's or Ramada or a Phillips 66 along the highway, the family was quite literally good to go.

Today? Your brand is only as good as your last review.

Were those products or those services luxurious? No. But that wasn't the point. They were consistent. The brand provided a proxy for trust. You didn't need to care about the individual restaurant, or the individual hotel, or the individual gas station. You could trust the brand. Again in Ogilvy’s terms, “a brand is a promise.”

Today? Well your brand is only as good as your last review.

What Digital Means for the Future of Brands – The Importance of Reviews

A generation ago, would you have willingly gotten into a stranger's car when he pulled up in front of you at the airport, or slept in someone else's home who you had never met, or — and credit where due to eBay here — bought someone’s used junk over the Internet? How could you be sure you’d receive the goods or the seller wouldn’t just take off of with your money or, God forbid, with the car or the house, something really terrible wouldn't have happened to you? If you think about things like classified ads or even Craigslist, they really just served a local area and depended on face-to-face interactions to complete the transaction.

Yes, you could get a lot of details, but once it was time to buy, you typically met with somebody face-to-face. And to be fair, things like vacation rentals have existed for years, but they really only represented a sliver of the market.

But now there are companies like Airbnb, companies like Uber, companies like Yelp and they’re becoming the dominant players in their respective industries. And if you think about the larger players the AGFAM folks (or, if you prefer, the “Frightful Five,”) Apple, Google, Facebook, Amazon, Microsoft, a lot of their success depends on that same thing.

If you think about Amazon, first as a bookstore and now as this complete e-commerce platform with independent sellers, fundamentally it depends on its ratings and reviews. eBay may have laid the groundwork but Amazon undoubtedly owns that space today. If you think about the Apple App Store or Google Play store, they serve very much the same function for apps or, oh I don't know, podcasts and things along those lines. You know, if you're like most people, if you're looking for a new utility to improve your productivity or or you're looking for something to provide you entertainment and information, I suspect you venture to the appropriate app store, you conduct a quick search, and then you choose the highest-rated app, or the highest-rated podcast, or the highest-rated movie or TV show that meets your needs. And we’re seeing this start to completely upend the traditional brand landscape that we've known for years.

For instance, take a look at McDonald’s. Now they’ve been having some troubles lately, and it's certainly true that healthier eating habits have taken a toll on the restaurant giant. But there's also no question that Yelp also did a number on Mickey D’s. Why would you choose the same old burger and fries when you have other healthier, tastier options and support some local business as well? To McDonald's credit they’re working really hard to revitalize their offerings and to make them more attractive to diners. And they’re starting to see some positive results. But there's little doubt in my mind that the local review scene has absolutely caused them some issues.

We talked about some of this a few weeks back in the episode “Customer Experience is Queen, What Does That Mean?” because it really impacts how people perceive your products and services and brings others to the fore who might have been seen as a competitor before.

What Digital Means for the Future of Brands – Impacts to Business Models

It's also changing business models dramatically. Now I think most longtime listeners know I do a fair bit of work in the hospitality industry and there's a very stark example there. In the hospitality industry we’re seeing a lot of what are called soft brands, where hotel owners use the platform provided by major chains but not the brand itself.

So most of these hotels tend to be franchised and instead of opening a new Marriott Hotel a real estate investor would open an independent hotel, call it whatever they want — the New York City Excelsior, right? — but they receive some support from Marriott behind the scenes. Almost every major hotel hotel chain has launched one or more of these over the last few years. Hilton with its Curio Collection and The Tapestry Collection, and Marriott with the Autograph Collection, the Luxury Collection, and the Tribute Portfolio have five between the two of them. Why? Because hotel owners demanded the ability to create a distinct experience in their local markets while still having access to the rewards programs that are so prominent and so powerful within the hospitality and lodging industries.

The question is how long will it be before that's all Marriott, Hilton, and their competitors provide to hotel owners at all — or worse find that technology platforms like Expedia, Airbnb, and others have taken their place?

You know, years ago these two authors, Carl Shapiro and Hal Varian, a couple of economists, wrote this wonderful and extraordinary book called Information Rules: A Strategic Guide to the Network Economy and they explained that digital only provides two avenues for success:

  1. You can either become the dominant firm in an industry or,
  2. You can become a differentiated product

But anything else is gonna hurt you. Ben Thompson at Stratechery calls it aggregation theory, it really leads to the dominant firm. They're all saying similar things and all the data that we've seen in the two decades since Shapiro and Varian wrote the book seriously suggests they were right. Though if you think about it that probably shouldn't come as a surprise. Shapiro holds an economics chair at Berkeley and Varian is the chief economist for a small firm you might've heard of called Google. So maybe these two guys were onto something.

But it comes back to something we've talked about in past episodes like “Customer Experience is Queen,” that you must differentiate yourself — especially if you're not in a position to be the dominant firm. And when we think about the folks who are the dominant firms, what they're doing is providing that platform that says these are the trusted reviews, these are the people you can trust, to say yes you can buy through us to get the product or the service that you're looking for. And that's why people like Amazon and Apple and Etsy and Yelp and Airbnb and Uber and Expedia and all the rest have positioned themselves so well. Because customers know they can trust the reviews there and then they can buy through those channels.

What Digital Means for the Future of Brands – What You Can Do

For you to succeed you have to be the kind of place that people want to write reviews about. You have to differentiate yourself. You have to say why is it someone would choose you in the first place and why would they would choose to tell their friends and family and fans and followers on social. Because if you don't do that, you’ll fall into that gray area in the middle and let me tell you that gray area in the middle is not a good place to be.

So when we think about the future of brands, when we think about the future of your brand, it really can come down to are you remarkable? Are you a brand worth telling others about? If you are, you’re going to be fine regardless of who the dominant firms are because customers will see that in the ratings and reviews that they see. They may buy the first time through a third-party, but you can convert them to a direct customer on a subsequent purchase. But if you're not they're going to choose you in the first place and that's going to put you in a very very ugly position. So I can't say for hundred percent sure that these these platforms, these trust proxies will kill all brands. But if you don't provide your customers with an experience that is truly remarkable and truly differentiated, it's a real safe bet that they will kill yours.

What Digital Means for the Future of Brands – Conclusion

Now looking at the clock on the wall we are out of time for this week. I will remind you that you can find the show notes for today's episode as well as an archive of all episodes by going to TimPeter.com/podcast again that's TimPeter.com/podcast. Just look for Episode 206. And while you're there, you can click on the subscribe link in any of the episodes you find there to have this delivered to your favorite podcatcher every single week. You can also subscribe in iTunes or the Google Play Music Store or Stitcher Radio or whatever your favorite podcatcher happens to be. Just search for Tim Peter Thinks, Tim Peter Thinks Out Loud, or plain old Thinks Out Loud, we should show up for any of those. And especially given the topic we've been talking about today, if you could provide a positive rating on iTunes or the Google Play Store while you're there I would really really appreciate it. You can also contact me by going to Facebook.com/Tim PeterAssociates, on Twitter using the Twitter handle @tcpeter, or via email by emailing podcast@TimPeter.com, again that's podcast@TimPeter.com. With that I want to say thanks again for tuning in, I very, very much appreciate it. I hope you have a fantastic weekend, a great week ahead, and I look forward to catching up with you here on Thinks Out Loud again next week. Until then, take care everybody.

Tim Peter

By

November 1, 2017

Digital is Like Gravity (Thinks Out Loud Episode 205)

November 1, 2017 | By | No Comments

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Digital is Like Gravity (Thinks Out Loud Episode 205)

Digital is Like Gravity (Thinks Out Loud Episode 205) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 15m 35s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

By

September 28, 2017

Will AI Kill Your Brand? (Thinks Out Loud Episode 204)

September 28, 2017 | By | No Comments

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Will AI Kill Your Brand? Graphic representing AI

Will AI Kill Your Brand? (Thinks Out Loud Episode 204) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 12m 23s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

By

September 20, 2017

Maybe Facebook’s Data Problem Is Your Data Problem (Thinks Out Loud Episode 203)

September 20, 2017 | By | No Comments

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Maybe Facebook's Data Problem Is Your Data Problem (Thinks Out Loud Episode 203)

Maybe Facebook’s Data Problem Is Your Data Problem (Thinks Out Loud Episode 203) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil Sound PR 30 Large Diaphragm Multipurpose Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Express 9 for the Mac.

Running time: 12m 11s

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Maybe Facebook's Data Problem Is Your Data Problem

Maybe Facebook's Data Problem Is Your Data Problem: Introduction

Well hello again everyone and welcome back to Thinks Out Loud, your source for all the digital marketing expertise your business needs. My name is Tim Peter, today is Wednesday, September 20, 2017 and this is episode 203 of the big show. Thank you again for tuning in, I really do appreciate it and I think we’ve got a terrific show for you this week.

Maybe Facebook's Data Problem Is Your Data Problem: Situation Analysis

So, a couple week’s ago, I made a reasoned, rational argument for why Facebook’s data problem is their problem, not yours. I set up my thesis, I built some supporting arguments, and I think, I nailed it. Brilliantly. Well done me, right?

Well, wait for it.

Because later that same day, the day I posted that episode, news broke that alleges Facebook sold ads to Russians looking to influence the US presidential election.

Um… whoops.

That same day, ProPublica proved that you could target Facebook ads specifically to anti-Semites using some horrific language on the site.

Um… Bigger whoops.

And, then, to add insult to injury, two days later, the Equifax news hit.

Which is just like “whoops” times infinity.

Now, I’ve mentioned a few times that data represents the crown jewels for your business. Right? Content is king, customer experience is queen, and data is the crown jewels. And if you’re somebody like Facebook or Equifax (or for that matter, Google, Amazon, Microsoft, and Apple), that’s putting it mildly. These folks live for data. These are massive companies, with massive influence in our lives, who choose the news we read, the ads we see, our ability to get credit and buy things and a whole host of other behaviors we engage in and rely upon every single day. That’s not just the crown jewels. That’s the whole bloody treasury, palace, and kingdom.

And while I’m leery of excessive regulation, a number of influential thinkers all across the political spectrum have begun to ask, rightly, whether these folks have too much power in our lives — and more importantly, whether they’ve demonstrated the ability to wield that power wisely.

The biggest threat facing Facebook and Google and Equifax and all the rest right now isn’t from their traditional competitors. And it’s not from a stereotypical couple of brilliant kids in a garage. Their problem, their biggest threat, is much bigger than that.

Because the real threat that Facebook and Google face is from consumers turning on them, losing faith in their ability to keep our data safe, and driving regulators to, well, regulate. Equifax underscores these dangers. Big. Time. And if customers begin to see the tech giants in a similar light, watch out.

According to TechCrunch, Facebook had to give testimony to special investigator Robert Mueller. The Atlantic Magazine published a series of articles detailing how and why Facebook should be regulated. Pierre Omidyar, who founded eBay and is nobody’s idea of a luddite, has been ranting on Twitter for the last several weeks about why Facebook should be regulated.

And it’s not just Facebook. Google faces increasing scrutiny in Europe for alleged anticompetitive practices. The New York Times in an article this past April asked, “Is It Time to Break Up Google?” Fortune Magazine suggested in July that Google and Facebook may need antitrust regulation.

And don’t get me started on Equifax. In this specific case, I agree they deserve almost anything that’s coming to them. But I don’t take pleasure in any of this. Nor should you.

Yes, there are editorials online, in newspapers, and in magazines. Yes, there will be hearings in Congress. And, yes, there will be consequences, at least in terms of additional regulation. The industry has done a terrible job taking care of the crown jewels. Others are getting set to step in to say how it should be done.

But that’s why you can’t take pleasure in this. Because at that point Facebook’s data problem might be your problem. Because those regulations might fall squarely on your shoulders too. Talk to anyone who’s beginning to deal with regulations such as the General Data Protection Regulation in Europe (better known as GDPR) and they’ll tell you what I’m talking about. It’s an onerous, complex process. And that’s before any of this happened.

This is a big, honkin’ deal, one you’ll likely have to deal with too.

Now, let’s be fair, this is larger than a marketing problem. But that doesn’t mean marketing shouldn’t care about it. We collect an extraordinary amount of data about our customers. And I have and will argue in the future that we should. But only if we’re:

  1. Clear in our intentions for data use and retention.
  2. Upfront with our customers about how we’re going to use that data.
  3. Prepared to let them opt-out if they don’t want us to use that data that way, and
  4. Ready to protect that data from the thieves and hackers, amateur and professional, who are looking to get their hands on that same data, whether for profit or for the lulz.

If you can’t say, “Yes, I’m ready” to each of those four items, it’s probably worth asking yourself whether you ought to be collecting that data in the first place. In the immortal words of Ian Malcolm in the movie Jurassic Park, “Your scientists were so preoccupied with whether or not they could that they didn't stop to think if they should.” Don’t be that guy.

Maybe Facebook's Data Problem Is Your Data Problem: Antitrust

Now, before you say, “This couldn’t really happen, though,” remember that it already has. There was no antitrust regulation in the US until the late 19th century. But once Senator Sherman declared "If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life,” we ended up with the Sherman Act of 1890.

And just as Sherman thought it was a bad ides to have a king over “the production, transportation, and sale of any of the necessaries of life,” some other enterprising politician could easily declare, “If our personal and private data about our lives and intentions truly represents the crown jewels, how can we entrust those jewels to any party unwilling to defend those jewels as if the very kingdom depends upon them?”

OK, so I’m not the orator John Sherman was. But you get the point.

Maybe Facebook's Data Problem Is Your Data Problem Summary

Equifax has shown just how dangerous it is to leave the crown jewels in the wrong hands. Facebook and Google have shown exactly how much the data they possess affects our day-to-day lives. And regulators have shown their willingness to act, at least when the public demands it.

You need to get ahead of the situation. You need to work with your IT team and your vendors to ensure that, just like I said before, you’re:

  1. Clear in your intentions for data use and retention. Why are you gathering that data? For what purpose?
  2. You need to be upfront with your customers about how we’re going to use that data. How’s it going to be stored? What’s it going to be used for? And ensure that they’re safe and secure
  3. Prepared to let your customers opt-out if they choose, and
  4. That you’re ready to protect that data from the folks who want to get their hands on those crown jewels for their own purposes.

Because, it’s a pretty safe bet that before too long, Facebook’s data problem — and Google’s data problem and Equifax’s data problem — are gonna turn out to be your data problem too.

Conclusion

Now looking at the clock on the wall we are out of time for this week. I do want to remind you that you can find the show notes for today's episode as well as an archive of all episodes by going to Tim Peter.com/podcast. Again that's Tim Peter.com/podcast. Just look for episode 203. And while you're there you can click on the subscribe link in any of the episodes you find so you get us delivered to your favorite podcatcher every single week. You can also subscribe in iTunes or the Google Play Music store or Stitcher Radio or whatever your favorite podcatcher happens to be. Just do a search for Tim Peter Thinks, Tim Peter Thinks Out Loud, or plain old Thinks Out Loud, we should show up for any of those. And if you'd be willing to provide a rating on iTunes, the Google Play Store, or Stitcher Radio while you're there, I would really appreciate it. You can also contact me by going to Facebook.com/TimPeterAssociates, on Twitter using the Twitter handle @tcpeter, or via email by emailing podcast@TimPeter.com again that's podcast@TimPeter.com. With that I want to say thanks again for tuning in, I really do appreciate it. I hope you have a fantastic weekend, a great week ahead, and I will look forward to talking with you back here on Thinks Out Loud again next week. Until then take care everybody.