With a world full of complexities like GDPR, social media algorithms, artificial intelligence, self-driving cars, and how many licks it takes to get to the Tootsie Roll center of a Tootsie Pop*, simplicity is your friend.
There's a unmet need for people who are able to take the complex and make it simple. And there's great talent in people who can make you feel like you've known it all along, without making you feel stupid.
This episode is a look inside the human mind – what causes us reflexively make things more complicated than they are, and why we're wistful for the past.
There's wisdom in simplicity and brevity; Dorothy Parker looms large (again); A.I. as a force for good; older Americans are getting into voice assistants; Apple is benefiting from Tesla's employees; get ready for Gen Z overload; the triumphant return of SEO; the world's oldest customer complaint; don't let your CEO tweet unsupervised; a whole section on content marketing; retail's excellent second quarter; direct-to-consumer models are everywhere and driving interest; the New York Public Library's unlikely story time; the Pew Center on whether social media can make people change their views; the #MoviePassing countdown continues; T-Mobile customer data got hacked; b's security chief thinks it may be too late to save the 2018 elections; Uber is focusing on scooters and bikes for short distances; Lyft is providing free transport for Election Day; how analytics will drive retail merchandising; curious minds and the limits of knowledge; plus the podcast pick of the week and more in the It's Simplicity Itself edition of The Full Monty for the week of August 27, 2018.
The Full Monty exposes you to virtually everything you need in business intelligence at the top of every week. Links are below with commentary in italics. Please sign up for our email updates to make sure you don't miss a thing. And check out The Full Monty on Flipboard.
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Top Story
In Hamlet, Shakespeare wrote:
"Brevity is the soul of wit."
It doesn't get much briefer than that, does it? More poignantly and in context the quote went like this:
"Therefore, since brevity is the soul of wit,
And tediousness the limbs and outward flourishes,
I will be brief: your noble son is mad."
Well, Lord Polonius certainly knew how to cut to the chase, didn't he?
In this week's podcast and on my blog, I'll be covering why the simple beats the complex and why the human mind yearns for the past.
One of the reasons The Full Monty (the newsletter) exists is to put a multitude of relevant links together in one place, with context. It's about simplifying the digital news and saving you time.
Similarly, I restructured the podcast The Full Monty so it would be approximately five minutes long each week. Again, short and to the point.
Does this work for you? I'd be interested in getting your feedback.
And because she was popular last week, we'll include another quote from Dorothy Parker, who paraphrased Shakespeare:
I hand-curate all of the content you see below (plus other stories on Flipboard that don't make the newsletter). If you've got something you think I should see, @ me on Twitter, Facebook, or email.
Artificial Intelligence / Autonomous
The latest in AI, machine learning, bots, and blockchain, mobility, and autonomous everything.
At a Transform 2018 breakout session in Mill Valley, executives explained that when considering A.I. solutions, companies should question the cost-benefit ratio. (VentureBeat) Avoiding GMOOT / shiny object syndrome is always a good idea.
Sony's robotic dog sold out almost instantly in Japan, and is slated to come to the U.S. next. (Quartz) All the loyalty and affection with none of the house-training or cleanup required.
According to a new report by the Center for the Digital Future, older users are embracing digital assistants. The study found that 31 percent of Americans over age 65 and 27 percent of those over age 75 use voice assistants on smartphones and smartspeakers. (USC Annenberg School) We're relieved to hear they're not living up to the stereotype (bonus if you remember this from the May 15, 2017 edition of The Full Monty).
Apple has hired 46 ex-Tesla employees this year. These include engineers, interns and global supply chain managers at a time when Apple is ramping up work on its stealthy vehicle initiative, Project Titan. (Investopedia) Last we saw, Apple's intention in the automotive industry was geared more toward a platform rather than vehicles.
Waymo has one of the most advanced systems of autonomous vehicles being tested today. And yet, there's still a huge team of humans involved. (The Atlantic) "It's still magic, even if you know how it's done." – Terry Pratchett
Communications / Marketing / Business Strategy
Industry developments and trends, including advertising & marketing, journalism, customer experience, content, and influencer relations.
Sᴛʀᴀᴛᴇɢʏ / Mᴀʀᴋᴇᴛɪɴɢ / Cᴏɴᴛᴇɴᴛ
Generation Z is set to outnumber Millennials within a year. (Bloomberg) Be on the lookout for marketers who do a find and replace in all of their materials.
Facebook's news feed was a firehose of traffic since about 2011. Now, attention is turning to Google and SEO is rising in importance. (New York Magazine) Good fundamentals should never fade. We're seeing a resurgence not only in SEO, but in email and newsletters as well.
IBM's Chief Marketing Officer Study has the modern marketing mandate. Summed up, it's this: growth and change. (IBM)
The world's oldest customer complaint was discovered, having taken place in Mesopotamia 3,800 years ago. (Quartz) No word on how many of those years they had to remain on hold.
Have you heard of the ketchup conundrum? It's the only condiment that doesn't have dozens (or any!) brand extensions. What that has to do with your content marketing. (Spin Sucks) Leave them wondering, but don't leave them wandering.
Retail Apocalypse
Humans are a transactional species, and the practice — if not the very notion of what retail is — is undergoing a historical metamorphosis.
Amazon's dive into groceries has kickstarted the grocery e-commerce world, forcing brick-and-mortar retailers to forge online partnerships with up-and-coming startups. (The Hustle)
Costco has rolled out Apple Pay at their 750 stories. (Macrumors) Having just wrestled the exclusive credit card rights from American Express, Visa must be livid.
It's the end of the summer, but it's not too early to think about the holiday retail season. Check out this 2018 Retail Forecast for Women's Footwear. It's got the most popular, searched-for brands, types of footwear, and retailers for the 2018 season. If you download it, it will help you determine the optimal weeks to begin your most aggressive marketing and advertising and have a measurable impact on sales.
Want to know what 500 marketers (budgets up to $10 million) believe and how those beliefs influence their behaviors when it comes to hiring and firing agencies just like yours?
Facebook has created a suite of tools to help advertisers make mobile videos, including a creation kit that transforms text and images into six- or 15-second videos using one of four mobile-optimized templates. (MarketingLand)
A YouTube couple is accused of faking evacuating their home amid the California wildfire. (Jezebel) On the surface, making such a video isn't a problem; when you're doing it for advertising dollars, YouTube just might view that as fraudulent behavior. The thumbnail for their video is below.#Ethics
The acquisition of new U.S.-based customers for some streaming services is slowing considerably, according to estimates from broadcast research firm Frank Magid & Associates. There are a number of reasons, but one is that traditional pay-TV from cable and satellite services are becoming more sophisticated and are adding streaming packages and integration into their set-top box deals. (Axios)
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Have you subscribed to Nick Quah's Hot Pod newsletter? It's a weekly email (and syndicated via Niebman Labs) that's chock full of news, gossip, moves, and developments in the audio business.
Program of the Week: Our pick this week is Household Name from Business Insider. The surprising stories behind our biggest, household name brands. Host Dan Bobkoff finds tales of tragedy, love, strange histories, unintended consequences, and accidental success. And in each episode, we find out how these brands changed our lives - for better or worse. Do you have a program to recommend? Add yours to our Google Sheet: smonty.co/yourpodcasts.
And don't forget about The Full Monty, our own brief weekly bit of business commentary.
This is what a filter bubble looks like. The middle is a lot weaker than it looks, and this makes public discourse vulnerable both to extremists at home and to manipulation by outside actors such as Russia. (MIT Review)
Verizon Wirelesstemporarily stopped throttling the data of firefighters and other first responders on the West Coast and in Hawaii and will soon introduce a new unlimited plan "with no caps" and with priority access for first responders. (Ars Technica) One example of the reasons Net Neutrality was needed
LinkedIn will begin allowing economics researchers to mine data from its vast trove of personal and professional information. Chief data officer Igor Perisic said the company is putting controls in place to protect user privacy, and will only allow approved researchers to view aggregate, anonymized data. (Bloomberg)
Just one in seven of the North American professionals polled said that they are able to identify audience members extremely well. The U.S. marketing identity sector will grow from $900 million in 2018 to $2.6 billion in 2022. (eMarketer)
Other links to help you reflect, improve, or simply learn something new.
"The cure for boredom is curiosity. There is no cure for curiosity." Allegedly said by the acerbic wit Dorothy Parker, the notion of curiosity as a defining trait was the theme of Episode 43 of The Full Monty.
Leonardo Da Vinci was the original curious mind, as showcased by his to-do list. (My Modern Met) Notice how many of his items were questions, as he constantly yearned to expand his knowledge.
Daniel Ellsburg on the limits of knowledge. A fascinating read that goes beyond you don't know what you don't know to you don't know what you know (and you don't know whom to trust). (Mother Jones)
Check out the Digital Futures Initiative, a digital citizenship training resource for educators and parents to help students overcome online challenges.
Do you like what you see here? Please subscribe to get essential digital news, hand-curated, and delivered to your inbox each week. We wouldn't even object if you shared this.
There's one attribute that will set you apart as a professional. It separates the creative from the dull, the leaders from the followers. It can't be taught, and it can't be learned. It's innate.
And if you have it, you'll find that you'll be inspired on almost a daily basis. You'll ask questions and absorb information. And through that process, you'll find that you can reach your greatest potential.
[If you're reading this on email, click through for the SoundCloud player.]
The power of strong links; the purpose of companies in the age of A.I.; more trust needed; autonomous submarines may rule the waves; the top 3 priorities of CMOs; influencers – regulating them, relating to them; the price of character; Walmart's grocery business is a juggernaut; the shift between Instagram Stories and Facebook Stories; TripAdvisor is struggling with many of the same issues as other Big Tech; much ado about Netflix; get ready for MoviePassing; Spotify's growth continues; a teenager hacked Apple's network; using data to improve customer experience; how Sharknado surpassed all expectations; plus the podcast pick of the week and more in the This Time, It's Personal edition of The Full Monty for the week of August 20, 2018.
The Full Monty exposes you to virtually everything you need in business intelligence at the top of every week. Links are below with commentary in italics. Please sign up for our email updates to make sure you don't miss a thing.
I wanted to let you in on a secret: I'm spending more time creating regular content on my main site. Well, it's not a secret per se, but I haven't talked about the purpose or the cadence.
Each Tuesday and Thursday, you can expect something from me on ScottMonty.com – Monday is a short post, designed to jump start your week and get you thinking. Thursday is a slightly longer piece on the same topic. I'd appreciate any comments or feedback on those, and I'd love to have you on my mailing list there.
Top Story
The top story this week isn't really a single linked article. But it is about the power of strong links.
For years, we've seen influencers, individuals and brands chase more followers. It became a numbers game – so much so that some people even gamed the system and used bots to seek out an follow more people. When Twitter purged its system last month, suddenly follower/following ratios got skewed because of practices like that.
I've always thought that getting the attention and trust of 10 percent of an audience of 10,000 isn't nearly as impressive as getting the attention and trust of 100 percent of an audience of 1,000.
And increasingly, I've been seeing discussions about people focusing on quality over quantity. Of moving past the "platform" mentality that focuses on reach, and rather putting efforts into the "community" mentality that focuses on engagement and strong connections. Because ultimately, those are the connections that are going to make a difference.
I hand-curate all of the content you see below (plus other stories on Flipboard that don't make the newsletter). If you've got something you think I should see, @ me on Twitter, Facebook, or email.
And thank YOU for being part of this community!
Artificial Intelligence / Autonomous
The latest in AI, machine learning, bots, and blockchain, mobility, and autonomous everything.
You think we have trust problem now? As more processes become automated and algorithms drive decisions, people will rightly question the validity of such actions. Ergo, the future of A.I. depends on trust. (strategy+business)
Google Home shipments outpaced those of Amazon’s Echo products for the second straight quarter as Google grows its smart home business and Amazon's lead shrinks. (AdWeek)
The World Economic Forum produced a report that concludes that A.I. will disrupt the financial industry by giving early adopters of the technology an advantage over competitors.
Google is reportedly developing a wearable health and fitness A.I assistant called Google Coach. Known internally as Project Wooden, it leverages a user's personal data to recommend workout routines, track progress, monitor nutrition, and generate meal plans and shopping lists. (Android Police)
CMOs want (and need) to deliver business growth. Their top three strategic priorities include securing long-term customer relationships, driving growth, and increasing margins. (MarketingCharts)
"Today, a CMO is not dealing with just marketing and advertising. They’re also dealing with issues of digital transformation, the changing media business and transparency. Everything for CMOs is nasty, tangled and complicated." (Digiday)
A smart and thoughtful piece on Social Musings about what's missing in digital and social that every executive should read. (Social 'n Sport - Jessica Smith) Help is here for executives who need to get a better grasp on digital/social.
Jᴏᴜʀɴᴀʟɪsᴍ / Cᴏᴍᴍᴜɴɪᴄᴀᴛɪᴏɴs / Rᴇᴘᴜᴛᴀᴛɪᴏɴ
The U.K.'s Competition and Markets Authority has launched an investigation on influencers and their relationships with brands. Once again, it's about transparency and the need to disclose – something that the U.S. has "required" since 2010, but where regulations seem to have no teeth. (Variety)
Humans are a transactional species, and the practice — if not the very notion of what retail is — is undergoing a historical metamorphosis.
Walmart reported impressive second-quarter results, showing a rise of 4.5 percent in the U.S. YoY. Traffic in its U.S. business was up 2.2 percent, meaning Walmart is doing a better job of luring shoppers to its brick-and-mortar stores. And its e-commerce business delivered a 40 percent gain in sales. (Investors Business Daily) Make no mistake: brick-and-mortar still matters. And the way Walmart – or any retailer – makes the digital-analog connection work for customers, means the difference between success and irrelevancy.
If you're in the retail sector, download a copy of the 2018 Retail Forecast: Women's Footwear . It's got the most popular, searched-for brands, types of footwear, and retailers for the 2018 Retail Holiday Season. It will help you determine the optimal weeks to begin your most aggressive marketing and advertising to maximize your ROI and sales impact.
Want to know what 500 marketers (budgets up to $10 million) believe and how those beliefs influence their behaviors when it comes to hiring and firing agencies just like yours?
Some of the results are going to really surprise you.
If you're seeing this, maybe you'd like to see your company's name here too. Let us know.
Platforms
News to know about relevant social, virtual, and augmented reality platforms that may affect your business.
Fᴀᴄᴇʙᴏᴏᴋ / Iɴsᴛᴀɢʀᴀᴍ / WʜᴀᴛsAᴘᴘ
Facebook has a plan to protect the 2018 U.S. midterm elections from election tampering. The social network says it’s moving quickly on its plan — which includes a physical war room to monitor the elections from its corporate headquarters and doubling the number of safety and security employees. (Recode)
Twitter cited “technical and business constraints” as it ends support for third-party apps like Tweetbot and Twitterific. (Techcrunch) Twitter was once hailed for its flexible and open API that allowed developers to be more creative and prolific than Twitter ever could. But there was a price to that.
Dorsey said he is rethinking core parts of the social media platform so it doesn’t enable the spread of hate speech, harassment and false news. One concept is to put context around false tweets. (The Washington Post)
LinkedIn is set to launch redesigned Groups by the end of August giving more visibility and control to mobile users. (MarketingLand)
TripAdvisor, the world’s biggest travel site, has turned the industry upside down – but now it is struggling to deal with the same kinds of problems that are vexing other tech giants like Facebook, Google and Twitter. (The Guardian)
The latest in the world of streaming video, audio, and the advertising, pricing and bundling models related to them.
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The Internet just about lost its collective mind last week when news reports said that Netflix was testing commercials that played between episodes of shows. The collective takeaway was that this would be the downfall of Netflix, that ads shouldn't be seen on a paid service (Hello, Hulu Plus? Cable?), and it would ruin the industry (debatable). (The Verge)
Turns out the fears were (mostly) unfounded: Netflix clarified that these are not commercials, but promotions for other Netflix shows. Crisis avoided.
MoviePass has less than three months of cash left. It has few options, as burn rate has a negligible effect and its stock price is near $0 after increasing the number of available shares by 9000 percent. (Business Insider)
Probably not the best time to be applying to be their CMO. (PRWeek) Although if they throw in unlimited movies six movies a month, I might consider it.
Amazon is in talks to acquire Landmark Cinemas, an indie 50-theater chain. (Quartz) Maybe they'll buy MoviePass while they're at it.
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For podcast discovery – and because you don't know whether listeners are using Apple or Google (or a variety of other services) – you need one podcast link to rule them all. (Pacific Content)
Spotify user growth continues upward, while Pandora's plateaus. At this pace, Spotify is set to surpass Pandora by 2022. (eMarketer)
Public-radio companies PRX and PRI are merging in a bid to capitalize on the surging popularity of podcasts and other digital formats as listeners and content creators migrate away from traditional broadcast radio. (Current)
Program of the Week: Our pick this week is Business Wars Daily. If you've heard the excellent episodic series by Wondery (first mentioned here in February), you'll enjoy this very brief daily update on business rivals and their progress. Do you have a program to recommend? Add yours to our Google Sheet: smonty.co/yourpodcasts.
And don't forget about The Full Monty, our own brief weekly bit of business commentary.
Business disruptions in the legal, regulatory, and computer security fields, from hacking to the on-demand economy and more. So many stories in this section this week – more available in our Flipboard magazine.
Upset over California cities deciding to prioritize Lyft and Uber for a pilot program, Lime and Bird have halted their scooter services. (CNET) I just returned from Mission Beach in San Diego. I'll have some thoughts on the scooter business soon. Make sure you're subscribed to get updates.
Measurement / Analytics / Data
The future is not in plastics, but in data. Those who know how to measure and analyze it will rule the world.
Automakers are figuring out how to monetize your data. The data provide feedback to improve the car's performance, but some OEMs are thinking about in-car advertising: What Your Car Knows About You. (WSJ) Let's just hope that it's relevant and personal.
Customer data platforms (CDPs) are the hot thing in marketing tech right now, but many of their functions are not that novel. (eMarketer) As with anything, it helps to understand history and human nature before jumping off of the shiny object bridge.
Here's another article (with some new twists) about what these screens are doing to our mind, focus, attention and evolution in relation to books and learning. (Slate) Count me as a fan of deep reading.
France seems to be getting to the heart of it: cellphones are now banned in all French schools. "Children don’t have the maturity" for smartphones, a French mother says. "Some adults don’t either." (WSJ)
For the truly mature among us: this weekend marked the end of the Sharknado series, with the self-aware and ever-campy Sharknado 6: It's About Time. (Twitter Moments) For all of its schlock and horribleness, the series was a cult favorite and reminds us of the power of risk-taking in thinking differently.
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