If you want to increase your success rate, double your failure rate. – Thomas J. Watson
Scott Galloway seems to claim that implicit targeting based on clickstream (i.e. observing a user’s browsing history and making recommendations) beats self-reports by a wide margin. While I’ve said before that I think doing so is a great idea, I’m not sure this will always be true. Google has done quite well for itself by demanding that users first type something into the search box.
When I look at the future of TV, I think it’s going to be on demand; it’s going to be mobile and cross-device; it’s going to be global; and it’s going to include a diverse set of content. – Susan Wojcicki, CEO YouTube
Sorting by a product attribute can diminish the importance weight of that attribute. When choosing is difficult, consumers may treat sorting as screening. Once options are sorted, consumers may form a consideration set comprising the options at the top. Because these options are more homogeneous with respect to the sorted attribute, consumers pay less attention to the sorted attribute in favor of a second attribute. This attentional shift emerges in a subsequent conjoint analysis, with less weight placed on the sorted attribute and more weight on a second attribute.
Adam Alter and Hal Hershfield have a study in the Proceedings of the National Academy of Sciences showing people search for meaning when they approach a new decade in chronological age.
- A.L. Alter, and H.E. Hershfield, "People search for meaning when they approach a new decade in chronological age: Table 1.", Proceedings of the National Academy of Sciences, vol. 111, pp. 17066-17070, 2014. http://dx.doi.org/10.1073/pnas.1415086111
European telecommunications company Orange partnered with Paris-based advertising agency Publicis Conseil and Toronto-based digital design agency Jam3 to create a surreal digital experience that allows users to speak with a simulated version of themselves 20 years in the future. The result, which is part of Orange’s 20th anniversary #futureself campaign, uses a combination of aging simulation and 3D rendering technologies to essentially allow folks to question their future selves.
Hal Hershfield, one of my closest advisors and mentors delivers a brilliant TED talk. You MUST check this out.
Link to video
Clinical Professor of Marketing at NYU Stern Scott Galloway predicts that “buy” buttons on Facebook may not be effective, as buyers may not be in the mood to buy. His comments raise bigger questions about mindsets more generally, and how they influence consumer behavior.