The Sleeping Barber - A Business and Marketing Podcast Sleeping Barber

Boy, do we have a treat for you today!

On this episode of the Sleeping Barber Podcast, we are joined by Eddie Obeng, CEO and learning Director of the Pentacle Virtual Business School.

Metaverse pioneer, even before the “metaverse” was a thing, Eddie talks to us about what happens when the pace of change is faster than our ability to learn, 3 rules to consider when trying to keep up with change, what do high-performance organizations do in a world with excessive amounts of data, the 'productive weirdos' and so much more!

This episode is a wild, and the energy levels are off the charts. Consider yourself warned.



Enjoy the show!



Our Guest

Dr. Eddie Obeng

CEO & Learning Director of the Pentacle Virtual Business School

MetaVerse Pioneer, Software Developer

Ambassador for the Association of Project Management

Professor Henley Business School, Duke - Growth, Innovation & Entrepreneurship

Author & TEDtalks alum & in-demand speaker



Linkedin: https://www.linkedin.com/in/prof-eddie-obeng/

Qube.cc: https://home.qube.cc/





Our Hosts:



Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



Links & Research:



TEDtalk: Smart Failure for a fast-changing world: https://www.youtube.com/watch?v=EjSuaeVfE9I

Eddie’s Website & Books: https://www.eddieobeng.com/

HBR - 3 Ways to Prepare for The Future of Work: https://hbr.org/2023/09/3-ways-to-prepare-for-the-future-of-work

McKinsey - 6 Ways to Create a High-Performance Culture: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/6-elements-to-create-a-high-performing-culture

5 Monkey’s Fable: https://www.youtube.com/watch?v=QhBv1kEGUeE



Timestamps



0:44 - Introduction to Eddie Obeng

3:07 - Why Eddie started an online consulting metaverse 30 years ago

7:09 - Why remote work failed

9:41 - What happens when the pace of change is faster than our ability to learn?

16:56 - Policies and processes run irrespective of reality

20:10 - 3 rules to consider when trying to keep up with change

23:20 - What do high-performance organizations do in a world with excessive amounts of data

26:55 - Modern high-performance cultures don’t look back, they look forward

28:52 - Why organizations need weirdos but don’t have any

30:44 - How leaders can harness innovation by converting normal staff into productive weirdos

35:19 - The collaboration lessons we missed during WFH remote work

41:14 - Why is it hard for existing companies to become high-performance organizations

44:03 - Why corporate purpose is about orienting toward a customer, not ESG

47:29 - Success with diversity also depends on creating new ways to function

52:13 - The tooth fairy story: how KPIs can lead to bad behaviours

56:22 - AI - everyone is doing it but they don’t know why

1:01:08 - The 3-phase approach for transforming into high-performance organizations

1:05:24 - Find out more about Eddie

1:06:52 - The problem with “saving the planet”

1:07:42 - 5 methods for figuring out what’s not real aka “the truth”

1:12:43 - Post-pod with V and Marc





Where to Listen:



Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-sleeping-barber-a-business-and-marketing-podcast/id1609811324

Spotify: https://open.spotify.com/show/4v0kaM350zEY7X2VBuyfrF?si=7083317d5afd488b ⁠⁠

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy84MWVjYWJhNC9wb2RjYXN0L3Jzcw?sa=X&ved=2ahUKEwji_oSOopP-AhXnlo4IHTZKBgYQ9sEGegQIARAC

Youtube: https://www.youtube.com/@sleepingbarberpodcast





© 2023 Sleeping Barber

Welcome to another episode of the Barber’s Brief. A segment where we cover news that caught our eye, a marketing moment where we highlight a case study, and our ad of the week.

Enjoy the show!



Our Hosts:

Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



In the news

Marketing Week - Mark Ritson Effectiveness:

American and Canadian marketing fall behind in effectiveness, with a lack of engagement in key discussions like eSOV, distinctive assets, attention theory, 60/40 rule, and mental and physical availability. The perception that effectiveness principles originated outside the US leads to skepticism. Notable figures include the B2B Institute (Peter Weinberg, Jon Lombardo, Ty Heath), Koen Pauwels, and Roger Martin.

Search Engine Land - Barry Schwartz:

Google will be announcing significant changes to their search algorithm. Danny Sullivan, Google's Search Liaison, hints at upcoming adjustments but cautions that those generating "good content" will not be affected.

Marketing Letters - Brand Growth Potential:

Challenge to the 80/20 rule: Top 20% of customers contribute 50% of sales. Emphasis on targeting light and non-category buyers for sustained growth. Sales potential depends on the number and frequency of category buyers. Simulation and real panel data analysis conducted in the toothpaste category.

Marketing Dive - Coca-Cola's AI Activation:

Coca-Cola utilizes AI to create a futuristic cityscape at Las Vegas Sphere, promoting Coca-Cola Y3000 Zero Sugar. Transformation of Exosphere inspired by Y3000 AI Cam. The activation period began Nov. 13.

The Drum - Huge Bets on Productization Model:

Creative agency Huge, under IPG ownership, shifts away from traditional practices, abandoning RFPs, free creative, and rate discounts. Adopts a productization model with set prices and timelines in experience transformation, technology realization, and growth creation. Global talent pool of 1200+ employees accessible globally.

Marketing Dive - Google's Generative AI Features:

Google introduces generative AI features in Performance Max ad product. Advertisers generate campaign assets by providing a URL. AI-populated assets, including stock and unique images, guaranteed to be non-repetitive.

FastCompany - IDEO's Restructuring:

Leading design firm IDEO undergoes layoffs and restructuring, reflecting a shift from traditional design thinking. Industry trend moves towards agile, external innovation sources. Downsizing raises questions about the industry's future efficiency and innovation potential.

Marketing Highlight: Oreo Case Study

As one of Kantar's top 10 penetration powerhouses, Oreo's success is driven by the product flywheel effect—a positive feedback loop that fuels sustained growth. While cookies remain their core business, strategic expansion into new categories, like frozen treats, has introduced Oreo to 26 million new global shoppers, with 5.7 penetration points in India alone, equating to 19 million new buyers.

The #StayPlayful global brand campaign has been instrumental in Oreo's triumph, celebrating the brand's playful elements and fostering a nostalgic connection to family moments. Running for over a year, the campaign reached audiences across 27 Central and Eastern European countries, including key markets like Germany and Russia.

Results:


93% Global Presence: Oreo has solidified its footprint on a global scale.
8% CRP Growth: Demonstrating sustained consumer relevance and engagement.
26 Million New Shoppers: A testament to the effectiveness of their product flywheel strategy.
+1 Global Rank Position: Reflecting Oreo's ascending position in the global market.

Ad of the week

https://www.youtube.com/watch?v=5y0fGsQU5zg&t=4s



Coming up next week:

Eddie Obeng - Building High Performance Organi

Net Promoter Score (NPS) has been a crucial part of the business world for nearly two decades. It was initially presented as the ultimate metric, the one to rule them all. Its simplicity and focus on customer satisfaction made it a darling of the industry.



However, with the evolution of customer research and feedback analysis, the idea of NPS as the singular, all-encompassing metric is being questioned. Even though two-thirds of Fortune 500 companies still employ NPS, it is no longer considered the only measure of customer satisfaction.



In this episode, we are joined by John Dawes, a professor at the Erenburg-Bass Institute, who will share his research on NPS. This episode will likely challenge what you know about NPS and shed light on some of its flaws.



Our Guest

Webpage: https://johndawes.info/

LinkedIn: https://www.linkedin.com/in/john-dawes-059bab10/



Our Hosts:

Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



Links & Research:

HBR - The One Number You Need to Grow

https://hbr.org/2003/12/the-one-number-you-need-to-grow

HBR - Where NPS Goes Wrong

https://hbr.org/2019/10/where-net-promoter-score-goes-wrong

Qualtrics - THe Ultimate Guide to NPS

https://www.qualtrics.com/experience-management/customer/net-promoter-score/

Int. Journal of Market Research: NPS - What Should Managers Know?

https://journals.sagepub.com/doi/10.1177/14707853231195003

A longitudinal Examination of NPS and Firm Revenue Growth

https://www.researchgate.net/publication/228660597_A_Longitudinal_Examination_of_Net_Promoter_and_Firm_Revenue_Growth

Byron Sharp - NPS does not predict growth

https://byronsharp.wordpress.com/2008/08/08/net-promoter-score-nps-does-not-predict-growth-its-fake-science/

Fred Reichheld - The Ultimate Question 2.0

https://www.amazon.ca/Ultimate-Question-Revised-Expanded-Customer-Driven-ebook/dp/B005E8AKVM/ref=sr_1_1

Why NPS is a bad tool and what to use instead

https://archive.researchworld.com/why-net-promoter-score-is-actually-a-bad-tool-and-what-to-use-instead/

Brand Growth Potential

https://link.springer.com/article/10.1007/s11002-023-09682-7

How Brands Grow

https://www.amazon.ca/How-Brands-Grow-What-Marketers/dp/0195573560



Timestamps

0:44 - Intro to John Dawes

2:24 - What NPS is and how it’s measured.

3:50 - Why NPS benefits from extreme scoring

5:48 - The downside of the NPS scoring method

8:38 - Why 66% of Fortune 500 companies use NPS

10:40 - The false promise of high NPS scores

13:44 - The trouble with NPS-based incentives

16:46 - The disconnect between NPS scores and business performance

19:30 - The challenges of NPS with growing vs established brands

21:28 - The effectiveness of NPS vs. past sales as a predictor of future growth

26:02 - Are NPS detractors actually bad?

29:50 - Is NPS a superior metric to CSAT scores for predicting growth?

33:17 - What is NPS good for & what to ask instead

37:56 - Can Google Reviews replace NPS?

39:25 - Metrics better than NPS for predicting growth

42:53 - Can we put the NPS genie back into the bottle?

46:47 - If not NPS for growth, then what?

49:32 - 50 years of brand performance disproves loyalty as a growth driver

52:19 - How to find out more about John

54:01 - Post-pod with V and Marc



Where to Listen:



Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-sleeping-barber-a-business-and-marketing-podcast/id1609811324

Spotify: https://open.spotify.com/show/4v0kaM350zEY7X2VBuyfrF?si=7083317d5afd488b ⁠⁠

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy84MWVjYWJhNC9wb2RjYXN0L3Jzcw?sa=X&ved=2ahUKEwji_oSOopP-AhXnlo4IHTZKBgYQ9sEGegQIARAC

Youtube: https://www.youtube.com/@sleepingbarberpodcast





© 2023 Sleeping Barber

Welcome to another episode of the Barber’s Brief. A segment where we cover news that caught our eye, a marketing moment where we highlight a case study, and our ad of the week.

Enjoy the show!



Our Hosts:

Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



In the News:

Unilever promotes internally to appoint new top marketer.

Source: Marketing Week - https://www.marketingweek.com/unilever-appoints-new-top-marketer-promotes-internally/



What B2Bs Need to Know About Their Buyers.

Source: HBR - https://hbr.org/2022/09/what-b2bs-need-to-know-about-their-buyers



Nestle promises an across-the-board increase in marketing spend.

Source: Strategy Online - https://strategyonline.ca/2023/10/19/nestle-promises-an-across-the-board-increase-in-marketing-spend/



Synthetic data is suddenly making very real ripples - Mark Ritson

Source: Marketing Week - https://www.marketingweek.com/synthetic-data-market-research/



Amazon upgrades ad suite with new data clean room, AI image generator

Source: Marketing Dive - https://www.marketingdive.com/news/amazon-unboxed-advertising-data-clean-room-ai-image-generator/697825/



Unilever thinks purpose is pointless for some brands

Source: The Message - https://the-message.ca/2023/10/27/new-unilever-ceo-downplays-purpose-and-hikes-adspend/



The Marketing Moment:

ZGM: AB is Calling

Background

In order for Alberta to thrive now and in the future, we need skilled, young labour. Labour that we just can’t pump out fast enough organically. So, we need to attract skilled workers from other parts of Canada. Workers who may not realize the career and lifestyle opportunities, along with the affordability advantages that Alberta has to offer.

Challenges

Focus group research found that Alberta is portrayed by some as lacking in culture and diversity. We knew this version of Alberta wouldn’t appeal to skilled, young workers living, for example, in the urban centres of Toronto and Vancouver. We would need to address their misconceptions of Alberta head on by using publicly available and completely defensible data to compare Alberta’s advantages in affordability, career opportunities and lifestyle to other strategic Canadian cities.

Strategy

Saying that “Alberta is diverse and rich in culture” could easily be dismissed as marketing language. The messaging needed to focus on jobs, housing and lifestyle, with imagery showcasing a diverse, culturally rich province.

Lead with The Cost of Living targeting Toronto & Vancouver

Execution

Launched Summer 2022: Website, Radio, Audio, Digital & Social in Van + Tor featuring AB advantages including affordable homes, liveable city, family friendly, career opportunities

Fall 2022 - OOH takeover at Yonge-Bloor in Tor + Granville-Robson in Van + Wrapped Vancover Sun paper

Results

AB had the biggest positive net migration from other provinces

Alberta's population grew by 60,000 in the quarter following the campaign– more than any other year since they began estimating populations in 1951.



Ad of the Week

The King & The Viking - Beats by Dre

The Norway international features alongside the one the Los Angeles Lakers superstar in a new promo campaign entitled "The King and The Viking," in which the pair connect with their families on the day before a big game.

In the promo, Haaland receives a heartfelt message from his father and agent, former footballer Alfie. Meanwhile, the man known as "King James" receives a pre-match pep talk from his wife, Savannah.



AD Link: https://youtu.be/EuUXiJW2HjY







© 2023 Sleeping Barber

Right on time for the final sprint!

Q4 marks the high-pressure season for countless advertisers and industries. While most are busy putting the final touches on their campaigns for the impending "cyber 5" period, we urge you to take a moment to tune in.

This week, we're joined by Samantha Kelley, CEO of Touché! Canada and Omnicom Media Group (OMG) Montreal, Canada's largest media agency. Samantha shares valuable strategies that advertisers should be considering as they head into this incredibly "scrappy" period.



Enjoy the show.



Our Guest

Samantha Kelley: https://www.linkedin.com/in/samantha-kelley-7809b11/

Touché!: https://www.touchemedia.com/en/



Our Hosts:

Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



Podcast Literature:

Amplified Intelligence: https://www.amplifiedintelligence.com.au/dr-karen-nelson-field/

Impact of Creative on Advertising Effectiveness: https://www.kantar.com/inspiration/advertising-media/the-advertising-multipliers-that-matter-are-not-what-marketers-think

The Markov Curve: https://channelmix.com/blog/markov-chain-marketing/



Timestamps

0:44 - Introduction to Samantha Kelly, CEO of Touché! Canada and Omnicom Media Group

3:12 - Q4 has become more of a marathon than the sprint it used to be

4:10 - Shopping habits of consumers

6:45 - How media consumption habits are affecting media buyers

7:56 - Applying viewer attention to ad platform impressions

9:16 - The impact of viewer attention on the measurement of long v. short term activations

11:03 - Pandemic and Inflationary affects on consumer shopping behaviour

13:55 - SportChek case study

16:50 - AI-based tech to build ad creative and increase speed to market

18:30 - Ad units to leverage in Q4

19:52 - The growing opportunity with Retail Media Networks (RMNs)

23:24 - How media buyers can integrate RMNs with brand s

25:05 - Splitting media budget between brand with activation ads in Q4

26:15 - Advice for winning Q4

28:55 - Planning holistic campaigns versus splitting budget between traditional v. digital media

30:53 - Audio placements: radio and podcast opportunities

32:22 - Media Mix Modeling and optimization of media spend

34:00 - The rule of thumb for splitting budget between media and creative

35:07 - Balancing reach with personalization

36:30 - Reaching loyal versus light customers

38:20 - Tips for small and medium-sized businesses

40:10 - Setting budgets for the holiday season & the Markov curve

42:44 - How to maximize ROI during the cyber 5

44:41 - Should companies hide online products to steer people into a store?

48:22 - Why retailers shouldn’t force customers into a sales channel

50:37 - Marketing metrics to focus on

54:04 - Why measurement is a big challenge

55:43 - Incrementality is the game, not ROAS or ROI

58:14 - Things to avoid in Q4

59:40 - Post-pod with V and Marc



Where to listen

Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-sleeping-barber-a-business-and-marketing-podcast/id1609811324

Spotify: https://open.spotify.com/show/4v0kaM350zEY7X2VBuyfrF?si=7083317d5afd488b ⁠⁠

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy84MWVjYWJhNC9wb2RjYXN0L3Jzcw?sa=X&ved=2ahUKEwji_oSOopP-AhXnlo4IHTZKBgYQ9sEGegQIARAC

Youtube: https://www.youtube.com/@sleepingbarberpodcast









© 2023 Sleeping Barber

Welcome to another episode of the Barber’s Brief. A segment where we cover news that caught our eye, a marketing moment where we highlight a case study, and our ad of the week.



Enjoy the show!



Our Hosts



Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠

Get in touch with our hosts:

Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/

Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠



In the News:



Eddie Bauer Changed its logo because Gen Z doesn’t read cursive:

https://www.fastcompany.com/90963252/eddie-bauer-new-logo-ditches-script-and-adopts-a-goose

Source: Fast Company



‘Trust your gut’: Marketing leaders on prioritizing wellbeing when job hunting.

https://www.marketingweek.com/marketing-leaders-prioritising-wellbeing-job-hunting/

Source: Marketing Week



Marketing enters its Taylor Swift era: Here’s what the numbers say!

https://www.marketingdive.com/news/taylor-swift-era-marketing-ads-numbers-statistics/695775/

Source: Marketing Dive



AD Platforms are Dropping New Toys for the Holidays

https://marketingnewscanada.com/news/new-toys-from-meta-pinterest

Source: Marketing News Canada



Canadian Survey of Consumer Expectations—Third Quarter of 2023

https://www.bankofcanada.ca/2023/10/canadian-survey-of-consumer-expectations-third-quarter-of-2023/

Source: Bank of Canada



Ads don’t wear out, Only marketers do

https://www.marketingweek.com/consumers-tired-ads-marketers/

Source: Marketing Week



The Marketing Moment

Sprite: Heat Happens, Stay Cool.

Literature links:

Marketing Interactive: https://www.marketing-interactive.com/sprite-launches-global-campaign-to-urge-people-to-keep-cool-in-the-heat

Ogilvy: https://www.ogilvy.com/work/heat-happens

Kantar: https://kantar.turtl.co/story/brand-footprint-2023-p/page/6/5



Ad of the Week

Cadbury - Garage

https://www.youtube.com/watch?v=JHEJfRnWyBM



© 2023 Sleeping Barber