This (longer) episode focuses on the latest research from the Ehrenberg-Bass Institute for Marketing Science.

The discussion delved into B2B marketing myths, emphasizing evidence-based insights from the Ehrenberg Bass Institute. We specifically analyze and debunk several marketing myths that are often wrongly applied to B2B,

• including the myth that brands should focus on retaining a loyal base of customers.
• Findings emphasize that in order to grow, brands need to reach a wider audience, and not just target their current customers.
• They also explore the importance of distinctive brand assets
• and the impact of category entry points, which can be leveraged to make a brand more readily available in a consumer's mind.
• Finally, we provide an overview of the Duplication of Purchase Law, which describes the tendency for customers to share across multiple brands,
• as well as the Double Jeopardy Law, which demonstrates the correlation between market penetration and loyalty.

References:
- "Advertising effectiveness and the 95-5 rule: most B2B buyers are not in the market right now | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/advertising-effectiveness-and-the-95-5-rule-most-b2b-buyers-are-not-in-the-market-right-now

- "Brand Rejection in B2B: Incidence, Reasons and Implications | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/brand-rejection-in-b2b

- "Category Entry Points in a Business-to-Business (B2B) world | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/category-entry-points-in-a-business-to-business-b2b-world

- "How do Business-to-Business (B2B) brands compete? | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/how-do-business-to-business-b2b-brands-compete

- "The Double Jeopardy Law in B2B shows the way to grow | Ehrenberg-Bass Institute for Marketing Science": https://www.marketing.unisa.edu.au/Ehrenberg-Bass-Institute/our-work/publications/the-double-jeopardy-law-in-b2b-shows-the-way-to-grow

"Scaling startups: shoot for the stars, but build your rocket first" uses the analogy of building a rocket to demonstrate the importance of understanding and mastering business fundamentals for startup success. We draws parallels between Francis Bacon's inductive reasoning and the evolution of naval engineering to highlight the importance of observation and experimentation in understanding underlying forces. We further uses the examples of Uber and Airbnb to emphasize that replicating a concept without understanding the core driving forces behind its success will not lead to sustainable growth. Just as space travel required an understanding of astrodynamics, the author argues that startups need to grasp the six stages of business growth described by the Greiner Curve in order to avoid potential pitfalls and ensure successful scaling.

References:

• https://medium.com/@alexandra.najdanovic/scaling-startups-shoot-for-the-stars-but-build-your-rocket-first-1221afe16580
• https://medium.com/@alexandra.najdanovic/scaling-startups-shoot-for-the-stars-but-build-your-rocket-first-1221afe16580

As Carrie Bradshaw says:
“the more words we invent, the harder it becomes to define things”.
She talked about relationships, I’m talking about innovation.

Another fav-of-mine: Larry Keeley's 10 Types of Innovation. It is not about post-its on walls (or Miro boards...)

We explore the 10 types of innovation- providing descriptions and examples of how companies have used them to achieve breakthrough success, and offers tactics for organizations to implement each type.

The discussion delves into the 10 types of innovation, emphasizing that true innovation is about sustainability and elegant integration rather than being first. Based on Doblin's research of over 2,000 innovations, the framework includes:

• profit model (e.g., McDonald's franchising),
• network (Google's ecosystem),
• structure (Google's 20% time policy),
• process (Amazon Prime's optimization),
• product performance (Tesla's electric cars),
• product system (Apple's ecosystem),
• and experience types like service (Amazon Prime's shipping),
• channel (Netflix's personalized recommendations),
• brand (Apple's emotional connection),
• and customer engagement (World of Warcraft's community).

Our conversation highlights that innovation is not just for large companies and encourages experimentation and platform thinking.

References:

• [PDF] https://www.deloittedigital.com/content/dam/digital/global/legacy/confidential---legacy-assets/dd-marketing/general/300---pr---communications/330_-_dd_com_website/051-offerings_detail/doblin-transition/10-types-of-innovation/design/pdf-updates/offering-20221202-doblin-10-types-brochure_download-02.pdf
• [URL] https://www.visualcapitalist.com/10-types-of-innovation-the-art-of-discovering-a-breakthrough-product/
• [Video] https://youtu.be/OUImLQ1lUXk?list=TLGG1qtgx2p82t0xODEwMjAyNA