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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:00,089 --> 00:00:06,178 You know what can other brands learn from this particular case study, you know in the you know we stand for this 2 00:00:06,730 --> 00:00:11,219 People like us do stuff like this. So let's talk about the anything a logo and a brand 3 00:00:11,620 --> 00:00:18,180 Alright because companies spend way too much time on their logo. Just like people on YouTube spend way too much time on their hair 4 00:00:18,250 --> 00:00:20,340 I'm told they spend way too much time in there 5 00:00:22,180 --> 00:00:29,429 If Nike owned opened a hotel I think we would be able to guess pretty accurately what it would be like 6 00:00:30,580 --> 00:00:33,509 If Hyatt came out with sneakers 7 00:00:34,239 --> 00:00:35,950 We'd have no clue 8 00:00:35,950 --> 00:00:39,779 Because Hyatt doesn't have a brand they have a logo 9 00:00:40,629 --> 00:00:44,429 if I swap the signs on a hotel at that price point 10 00:00:44,770 --> 00:00:50,999 It couldn't tell if you were to marry it if you were a Hilton or the Hyatt the hallway the room 11 00:00:51,000 --> 00:00:53,399 I don't know. Where am I no brand 12 00:00:54,070 --> 00:00:56,309 So what it means to have a brand is? 13 00:00:56,980 --> 00:01:01,169 You've made a promise to people they have expectations. It's a shorthand 14 00:01:01,180 --> 00:01:05,369 What should I expect the next time and if that is distinct? 15 00:01:06,100 --> 00:01:07,479 You've earned something 16 00:01:07,479 --> 00:01:13,829 If it's not distinct, let's admit you make a commodity and you're trying to charge just a little bit extra for peace of mind 17 00:01:14,650 --> 00:01:21,959 The problem that Hyatt and Hilton and Mary it and the rest have his sort by price 18 00:01:22,630 --> 00:01:27,269 Because if I go online now to find a hotel, it's really simple sort by price 19 00:01:27,369 --> 00:01:31,649 Why would I pay $200 extra to go a block away? I don't 20 00:01:32,380 --> 00:01:37,619 So what's the value of a brand the value of a brand is how much extra am I paying? 21 00:01:49,682 --> 00:01:52,071 It's that time again, it feels like every year we 22 00:01:54,272 --> 00:01:57,471 Had a little you're like Santa Claus but with wisdom and insight 23 00:01:57,842 --> 00:02:02,691 Once a year you show up from like Jimmy and we have a conversation. I was looking forward to this 24 00:02:04,501 --> 00:02:07,821 I'm not gonna ask you how you got this job this time because after 25 00:02:09,722 --> 00:02:13,552 Half a dozen times, I think I know the story, but I do want to know 26 00:02:14,582 --> 00:02:20,721 About this book. I want to know I mean, I've always thought of you as the godfather of 27 00:02:22,022 --> 00:02:25,462 Marketing, you know if if Peter Drucker is you know 28 00:02:26,462 --> 00:02:27,781 old-school 29 00:02:27,781 --> 00:02:34,551 Not outdated but just like, you know, he came before he's the previous generation. I always think of Seth as the new generation 30 00:02:35,281 --> 00:02:37,281 kiss the ring and so 31 00:02:38,162 --> 00:02:43,012 Help me understand this seems to me to be like the quintessential book on marketing 32 00:02:43,012 --> 00:02:48,232 well, what's your take the thing is I don't do any consulting because I don't have the patience for it and 33 00:02:49,832 --> 00:02:56,061 What I love to do is find people I care about who are doing work that I'm proud of it gives them free advice 34 00:02:56,822 --> 00:02:59,091 How can they achieve their goals? 35 00:02:59,702 --> 00:03:04,521 Bringing their work to people who need it and what happened was after the 50th time 36 00:03:04,522 --> 00:03:06,501 I heard myself saying the same things again 37 00:03:06,501 --> 00:03:14,181 And again, I started this seminar the marketing seminar which lives online and it's not inexpensive, but it's really effective 38 00:03:14,182 --> 00:03:15,602 it's a hundred a 39 00:03:15,602 --> 00:03:17,401 seminar with 40 00:03:17,401 --> 00:03:25,341 So far six thousand six hundred people have taken it and what happens inside it is I was watching people interact 41 00:03:25,862 --> 00:03:33,631 With my lessons, but fifty lessons together and seeing how they interpreted them and watching them change and watching their work get better 42 00:03:34,362 --> 00:03:40,442 So it occurred to me, I don't know why I took so long. Oh, I know how to make books. Maybe I'll turn this 43 00:03:40,992 --> 00:03:44,341 Into a book for people who don't necessarily want to commit the time 44 00:03:44,622 --> 00:03:50,611 To being part of a seminar and one thing led to another and the book became the book that it is now 45 00:03:50,612 --> 00:03:52,612 which is yes my version of 46 00:03:53,832 --> 00:04:01,141 If advertising had never existed if David Ogilvy had never existed if the old model which was so magical 47 00:04:01,902 --> 00:04:07,501 Wasn't available because I don't think it is if I could teach marketing to someone what would I teach them? 48 00:04:07,752 --> 00:04:13,712 So there's nothing it I think the word Twitter might appear once in the whole book is not about social media 49 00:04:13,712 --> 00:04:17,462 It is not about growth rating points or even conversion 50 00:04:17,862 --> 00:04:24,362 it's about work that matters for people who care so break it down for me kind of what's 51 00:04:24,852 --> 00:04:25,902 What's the path? 52 00:04:25,902 --> 00:04:26,522 You know 53 00:04:26,522 --> 00:04:31,682 What is the method to the madness of laying out the chapters in the order that you did or? 54 00:04:32,052 --> 00:04:33,582 Does the order or not matter? 55 00:04:33,582 --> 00:04:40,351 So the order we you have to begin by undoing the marketing of marketing you have to undo 56 00:04:40,722 --> 00:04:46,711 This idea that marketing is selfish. That marketing is a scam that marketing is this short-term interruption thing 57 00:04:46,711 --> 00:04:50,071 So I spend a bunch of time on that. I wish I didn't have to but I do 58 00:04:51,012 --> 00:04:58,682 Because I'm saying to you you're a marketer and it's not an insult. It's a compliment because what marketers do is we make change happen 59 00:04:59,742 --> 00:05:02,191 Okay, which change for who? 60 00:05:02,832 --> 00:05:09,451 so the first third of the book is what marketers do is we decide who we are seeking to change who's it for and 61 00:05:10,032 --> 00:05:17,732 What's it for and I'm amazed at how often people don't even consider this they think they're making average stuff for average people 62 00:05:17,982 --> 00:05:22,711 And if they just yell at about it enough then their Kickstarter will hit 19 million dollars 63 00:05:23,132 --> 00:05:26,102 Well, yeah every once in a while I Kickstarter needs to do that 64 00:05:26,352 --> 00:05:31,862 But almost none of them do that the truly successful ones or the truly successful 65 00:05:32,352 --> 00:05:38,372 Online stores are local bakeries or the person is trying to raise money for their charity are specific 66 00:05:38,862 --> 00:05:44,251 They're not general. So the first part and then I get to this idea that culture 67 00:05:44,982 --> 00:05:51,061 Defeats everything if you've got culture at your back what you're doing is easy and you're trying to change the culture 68 00:05:51,102 --> 00:05:58,621 It's difficult. So what is culture culture is people like us do things like this? How do we break that into pieces? 69 00:05:58,622 --> 00:06:01,111 Who are the people like us? What are the things like this? 70 00:06:02,262 --> 00:06:04,262 Then I do 71 00:06:04,271 --> 00:06:11,221 A turn into something that some people think is distracting but is in fact at the core of some of the big ideas here 72 00:06:11,222 --> 00:06:12,581 which are 73 00:06:12,581 --> 00:06:15,331 Human beings make decisions based on status 74 00:06:15,882 --> 00:06:19,352 Not the status of I have a fancier car than you that's part of it 75 00:06:19,782 --> 00:06:25,021 But the status of who eats lunch first and the status of who's moving up and who is not moving up 76 00:06:25,021 --> 00:06:28,201 and what does that even mean to us that informs culture and 77 00:06:28,722 --> 00:06:30,102 then I talk about 78 00:06:30,102 --> 00:06:33,811 Affiliation versus dominance because I see that more and more everywhere. I look 79 00:06:35,141 --> 00:06:41,221 Ok, so now that we've laid that out now we can get into some of the tactics the tactics of are you a brand marketer? 80 00:06:41,222 --> 00:06:48,632 or a direct marketer because they're fundamentally different things and most people were brand marketers before the internet, but the internet 81 00:06:49,482 --> 00:06:53,491 Rings a bell and says if you're a direct marketer, this is here for you 82 00:06:54,132 --> 00:06:58,501 and then I can we round hole circle and I end with a bit of a 83 00:06:58,812 --> 00:07:02,761 Rant about is the work. We do evil. Are we responsible for it? 84 00:07:02,761 --> 00:07:08,431 and if we are responsible for it, what are we doing here with this super powerful tool and 85 00:07:09,581 --> 00:07:15,151 This tool we each have is more powerful than the assembly line was in 1925 86 00:07:16,152 --> 00:07:18,482 Partly because we all have it if you have a keyboard 87 00:07:19,002 --> 00:07:24,301 You can touch the culture. What will you do with that keyboard what we do with that camera 88 00:07:24,822 --> 00:07:26,562 Because we're not victims 89 00:07:26,562 --> 00:07:29,401 We're creators and I care very much about 90 00:07:30,222 --> 00:07:36,632 Helping people take responsibility for the change they seek to make and if it makes you a living, that's fine 91 00:07:36,641 --> 00:07:43,501 It doesn't make you a living that's a choice, but don't do it because you're making a living making a living because you're doing it 92 00:07:44,502 --> 00:07:47,701 Yeah, well said, can we go back just a second and maybe? 93 00:07:48,761 --> 00:07:50,652 delineate or clarify 94 00:07:50,652 --> 00:07:55,742 Brand marketing versus direct marketing. I think I know what you're saying to me. If I were to say it, I would say 95 00:07:56,532 --> 00:07:58,532 brand marketing or advertising 96 00:07:58,662 --> 00:08:01,052 Because to me one is a push 97 00:08:01,602 --> 00:08:04,322 Button, and the other one is a pull lever 98 00:08:04,662 --> 00:08:10,292 You know brand marketing being a pull or it's pulling people in drawing them in with a tint, you know 99 00:08:10,292 --> 00:08:14,282 trying to build attention and Trust while advertising is more about 100 00:08:14,742 --> 00:08:19,111 Getting a return on the investment and getting someone to jump through a hoop, but maybe in your own words 101 00:08:19,112 --> 00:08:22,952 Yeah, I I've that's legit, but I'd do it differently 102 00:08:22,952 --> 00:08:30,421 Yeah, because there are direct marketing ads and their brand ads. It's not the advertising that differentiates them. It's one simple thing you 103 00:08:31,662 --> 00:08:33,432 Can't measure a brand 104 00:08:33,432 --> 00:08:39,812 You can measure direct you must measure direct right Lester Wunderman who was a friend of mine is a friend of mine 105 00:08:40,062 --> 00:08:44,611 The elder statesman invented the term direct marketing was on the board of Yoyodyne 106 00:08:45,162 --> 00:08:47,612 Direct Marketing is measured marketing 107 00:08:47,612 --> 00:08:55,231 If you can measure it, you're gonna act differently because you can see what happened Tuesday and change what you do on Wednesday 108 00:08:55,842 --> 00:09:00,931 Brand marketing is a Cheetos commercial brand marketing is the Airbnb logo 109 00:09:01,122 --> 00:09:05,822 They don't you can't test their Airbnb logo every day. It's the logo 110 00:09:06,402 --> 00:09:10,021 That's part of the way you tell the story of who you are. So 111 00:09:10,722 --> 00:09:11,742 a 112 00:09:11,742 --> 00:09:13,892 Lot of individuals who don't own the company 113 00:09:14,262 --> 00:09:20,941 Like brand marketing cos can't get in trouble for a long time because no one knows if it's working and it's this magic 114 00:09:21,432 --> 00:09:27,962 Alchemy the Absolut Vodka ads in the back of the New Yorker for all those years. They didn't work. They didn't work 115 00:09:27,962 --> 00:09:28,472 They didn't work 116 00:09:28,472 --> 00:09:35,761 They didn't work and then one day you're a genius right so know very few people make an Apple Superbowl commercial that changes everything 117 00:09:36,672 --> 00:09:39,812 Generally what happens is people show up 118 00:09:40,182 --> 00:09:45,781 Put their brand in the world with or without an ad right Brad marketing is where did you put your store? 119 00:09:45,782 --> 00:09:47,882 Is it on the corner or in the middle of the block? 120 00:09:48,072 --> 00:09:51,512 You can't measure that because you can't open two stores one on the corner and one in the middle 121 00:09:52,452 --> 00:09:55,501 Direct Marketing though is the secret of Google and Facebook 122 00:09:56,082 --> 00:09:59,431 Google gets all of its revenue 100% 123 00:09:59,832 --> 00:10:02,731 from people who are buying clicks that they measure and 124 00:10:02,892 --> 00:10:06,571 the reason they make so much money is they sell the clicks for a nickle and 125 00:10:06,852 --> 00:10:12,411 If work they tell your competitors that they could buy it for six cents and so an auction takes place 126 00:10:12,842 --> 00:10:15,711 So you are making a little bit of money and Google's making a lot 127 00:10:16,112 --> 00:10:18,891 But you're still ok with it because it's better than making zero 128 00:10:19,262 --> 00:10:23,362 so as we switch to this world of Direct Marketing we have to realize 129 00:10:23,972 --> 00:10:27,862 The metrics of brand marketing aren't appropriate and vice versa 130 00:10:28,802 --> 00:10:29,751 What does that mean? 131 00:10:29,751 --> 00:10:36,921 It means if you're an individual and you're counting your facebook likes or your YouTube views you're making a big mistake 132 00:10:37,472 --> 00:10:42,771 Because you're doing direct marketing in that sense you're measuring it, but you're measuring the wrong thing 133 00:10:42,772 --> 00:10:43,532 and 134 00:10:43,532 --> 00:10:46,011 That's gonna undermine your brand because we all know 135 00:10:46,082 --> 00:10:51,561 That the best way to get a lot of clicks is to act like a porn site and left to its own devices 136 00:10:51,962 --> 00:10:56,271 If it does nothing, but optimize sooner or later direct marketing on the internet 137 00:10:56,941 --> 00:11:02,240 Races to the bottom because you're just trying to get a few clicks from a few people dumb enough to pay you something 138 00:11:02,881 --> 00:11:08,151 And my argument is we need to race to the top. So we need to use Direct Marketing when we should and 139 00:11:08,852 --> 00:11:14,151 Brand marketing the rest of the time. Yeah. I think it's a really good point, you know when? 140 00:11:15,212 --> 00:11:17,602 Back-to-school timing hits and I hear those ads 141 00:11:18,121 --> 00:11:24,591 Start pinging. Hey, you know you can get jeans that are usually 40 bucks for five bucks just for this week of time 142 00:11:24,871 --> 00:11:30,771 I'm being hit with direct marketing and that's ringing my bell the trouble with direct marketing or advertising like that is 143 00:11:31,501 --> 00:11:35,481 you know, it's can be expensive and sometimes it misses the mark and 144 00:11:36,332 --> 00:11:38,391 We're being trained to ignore it. Oh, yeah 145 00:11:39,032 --> 00:11:46,461 Yeah, I mean Lillian Vernon l.l.bean the reason you've heard of them Lands End because every time they spent 50 cents on stamps 146 00:11:46,501 --> 00:11:48,352 They made a dollar 50 in profit 147 00:11:48,352 --> 00:11:55,281 So they get it to infinity and that's the direct marketers dream get it right turn the dial 148 00:11:55,772 --> 00:11:59,391 But when we think about the marketing that makes our culture better 149 00:12:00,121 --> 00:12:05,631 It might have a little direct marketing piece to it. But mostly it's a brand marketing exercise 150 00:12:06,452 --> 00:12:09,592 It also kind of reminds me of The Tortoise and the hare, right? Yeah 151 00:12:10,952 --> 00:12:15,412 Brand marketing is the tortoises race. The hares is direct marketing or advertising 152 00:12:16,231 --> 00:12:18,381 That's right, you know it can be quick and you know 153 00:12:18,392 --> 00:12:23,482 You could spend five million dollars on a Superbowl ad and read everyone in one day 154 00:12:24,512 --> 00:12:27,621 You know, but how long do we remember that or how's that resonating? What's the risk? 155 00:12:28,262 --> 00:12:30,182 exactly 156 00:12:30,182 --> 00:12:33,532 Can you weigh in on what seems to be the quintessential? 157 00:12:33,752 --> 00:12:38,452 Brand marketing play today as we talk about it the Nike play and Colin Kaepernick 158 00:12:39,422 --> 00:12:40,712 okay, so 159 00:12:40,712 --> 00:12:43,131 There are a few things that need to be understood about Nike 160 00:12:43,712 --> 00:12:48,981 Biggest one you are not a key. I am NOT Nike. Nike is a bit of a special case 161 00:12:49,472 --> 00:12:55,671 Number two the vast majority of Nikes future and its present is overseas sales 162 00:12:56,132 --> 00:13:02,661 So they're showing up and they're saying we're not Puma. We're not a ddos. We are Nike 163 00:13:02,762 --> 00:13:09,712 Well, you don't you can't say that by pointing to your sneakers because in a blind taste test the sneakers are all the same 164 00:13:09,992 --> 00:13:13,312 Right, unless you're an elite elite athlete. It's about something else 165 00:13:14,072 --> 00:13:22,012 Well, Colin Kaepernick is a signal he's a symbol he stands for something and the other sneaker companies have been 166 00:13:22,012 --> 00:13:28,311 Afraid to stand for what Colin Kaepernick stands for so is it risky? 167 00:13:28,652 --> 00:13:34,491 Feeling to go into a divisive area of politics that I don't think should be divisive but has become divisive 168 00:13:34,492 --> 00:13:37,041 Of course, it feels risky, but it was brilliant 169 00:13:37,472 --> 00:13:44,601 It was brilliant because at the level Nike is playing now the number of ways that they can stand for something anything 170 00:13:44,972 --> 00:13:48,291 Is very small and here with just two words 171 00:13:48,752 --> 00:13:56,481 They were able to say us him we stand for something when you talk about Nike you are standing 172 00:13:56,852 --> 00:13:59,482 You're talking about standing for something, right? And 173 00:14:00,962 --> 00:14:08,451 The stock market has reflected that their market share has reflected that it's not easy for a brand to do something that singular 174 00:14:08,462 --> 00:14:12,021 What's interesting is if Seagram's had done it where? 175 00:14:12,902 --> 00:14:18,051 Mattress firm had done it or some other advertise. It wouldn't worked because they didn't have the DNA 176 00:14:18,842 --> 00:14:20,822 To match it. It would have been stopped 177 00:14:20,822 --> 00:14:27,322 This wasn't a stunt that people who knew Nike said, of course, it was very natural for them to do that. Yeah, you're right 178 00:14:27,322 --> 00:14:31,822 They've they've been seeding the market from the beginning, you know from youth sports although an eye 179 00:14:32,462 --> 00:14:34,462 and and they've also been 180 00:14:35,232 --> 00:14:40,262 you know the disrupter if you want to use that buzzy word in their industry trying to do stuff differently and 181 00:14:41,232 --> 00:14:45,812 Shake-up. Yeah when you and I were kids sneakers cost eight dollars, right? So as a 182 00:14:46,362 --> 00:14:53,462 citizen I am thrilled that they've given this brave individual a platform to speak his mind as a 183 00:14:53,712 --> 00:14:55,112 marketer a brand marketer 184 00:14:55,112 --> 00:14:56,442 I look at that and say 185 00:14:56,442 --> 00:15:00,871 If this is what the people at Nike truly believe is this is where they are going and it's a non 186 00:15:01,002 --> 00:15:06,572 Cynical act on their part. I have to applaud it because the kind of person that 187 00:15:07,512 --> 00:15:08,922 is 188 00:15:08,922 --> 00:15:10,922 decrying this 189 00:15:12,372 --> 00:15:13,572 Psychographically 190 00:15:13,572 --> 00:15:18,272 Isn't their core audience. It's not what they look like. How old they are their income? 191 00:15:18,272 --> 00:15:24,031 it's what they believe and they tend to not be an early adopter of fashion that 192 00:15:24,402 --> 00:15:29,822 Person, well Nike is selling to the early adopter of fashion by the time their shoes are at Payless 193 00:15:30,132 --> 00:15:32,161 They're not making any money at that end of the curve 194 00:15:32,162 --> 00:15:36,122 They make money at the front of the curve and the front of the curve the early adopters 195 00:15:36,672 --> 00:15:40,591 There are people who are playing with new ideas in the culture 196 00:15:40,902 --> 00:15:44,132 They're not people who are trying to preserve old ideas in the culture 197 00:15:44,232 --> 00:15:51,151 Let's talk about what could could go wrong or could have gone wrong and maybe if we try this on another brand? 198 00:15:52,002 --> 00:15:58,111 You know what can other brands learn from this particular case study, you know in the you know, we stand for this 199 00:15:58,692 --> 00:16:03,181 People like us do stuff like this. So let's talk about the anything a logo and a brand 200 00:16:03,582 --> 00:16:10,141 Alright because companies spend way too much time on their logo. Just like people on YouTube spend way too much time on their hair 201 00:16:10,202 --> 00:16:12,332 I'm told they spend way too much time in there 202 00:16:14,142 --> 00:16:21,392 If Nike owned opened a hotel I think we would be able to guess pretty accurately what it would be like 203 00:16:22,512 --> 00:16:25,471 If Hyatt came out with sneakers 204 00:16:26,172 --> 00:16:27,852 We'd have no clue 205 00:16:27,852 --> 00:16:31,741 Because Hyatt doesn't have a brand they have a logo 206 00:16:32,592 --> 00:16:36,362 if I swap the signs on a hotel at that price point 207 00:16:36,732 --> 00:16:43,891 It couldn't tell if you were to marry it to Hilton or the Hyatt the hallway the room. I don't know 208 00:16:43,892 --> 00:16:45,892 Where am I no brand? 209 00:16:46,032 --> 00:16:48,422 So what it means to have a brand is? 210 00:16:48,942 --> 00:16:51,332 You've made a promise to people they have 211 00:16:51,881 --> 00:16:57,331 Expectations it's a shorthand. What should I expect the next time and if that is distinct? 212 00:16:58,062 --> 00:16:59,442 You've earned something 213 00:16:59,442 --> 00:17:05,791 If it's not distinct, let's admit you make a commodity and you're trying to charge just a little bit extra for peace of mind 214 00:17:06,612 --> 00:17:13,892 The problem that Hyatt and Hilton and Mary it and the rest have his sort by price 215 00:17:14,590 --> 00:17:19,350 Because if I go online now to find a hotel, it's really simple sort by price 216 00:17:19,351 --> 00:17:23,611 Why would I pay two hundred dollars extra to go a block away? I don't 217 00:17:24,340 --> 00:17:29,581 So what's the value of a brand the value of a brand is how much extra am I paying? 218 00:17:30,432 --> 00:17:31,452 above 219 00:17:31,452 --> 00:17:37,021 the substitute and if I'm not paying extra, you don't have a brand so when we think about 220 00:17:37,632 --> 00:17:45,422 What brands ought to do to move forward the most important thing is to not worry about your slogan your spokesperson 221 00:17:45,942 --> 00:17:49,442 They're wrapping. It's to worry about the substance 222 00:17:50,112 --> 00:17:55,981 work that matters for people who care find the people who care the smallest viable group you can live with 223 00:17:56,442 --> 00:17:59,702 And figure out how to give them work that matters 224 00:18:00,432 --> 00:18:06,841 So if we compare if we're stung the hotel thing there are hotels these new chains of mini boutique hotels 225 00:18:07,332 --> 00:18:09,252 That charge double 226 00:18:09,252 --> 00:18:11,582 What a Hayat might charge for less 227 00:18:13,152 --> 00:18:16,591 But it's only less by the Hyatt measure it's way more 228 00:18:17,652 --> 00:18:19,601 by the measure of someone who 229 00:18:19,601 --> 00:18:25,681 Cares about with the people in the lobby look like who cares about how hip it feels to walk into the bar 230 00:18:25,721 --> 00:18:33,301 They're investing not in. Oh you get a room with three power outlets. They're investing in throwing a party in a place 231 00:18:33,302 --> 00:18:35,371 Where you also can sleep while you're on the road? 232 00:18:36,162 --> 00:18:43,591 Those hotels have a brand and those hotels are some that some people pay extra for but almost no one in the scheme of things 233 00:18:44,442 --> 00:18:46,442 Yeah, can we talk a little bit about? 234 00:18:46,961 --> 00:18:53,191 Demographic versus psychographic. Yeah, I love that. Yeah, okay, so they're only used to be demographics 235 00:18:53,471 --> 00:18:56,101 The only thing a marketer could pay attention 236 00:18:56,682 --> 00:19:02,222 What kind of car do you drive? How old are you? What's your income? You could buy all of those things for mailing this company? 237 00:19:03,132 --> 00:19:09,331 But once the internet showed up particularly Google but mostly Facebook we could say 238 00:19:10,272 --> 00:19:12,661 This is for people who like that 239 00:19:13,602 --> 00:19:19,892 This is for people who dream of that. This is for people who believe this. Those are psychographics 240 00:19:19,892 --> 00:19:25,591 It doesn't matter what your skin color is. It doesn't matter what your income is. It's what's your narrative inside? 241 00:19:25,872 --> 00:19:30,902 So going forward the old-school marketer still talks about demographics 242 00:19:30,912 --> 00:19:35,432 They're wasting their time what we need to understand is in every zip code 243 00:19:35,442 --> 00:19:39,272 There are people of almost every psychographic perception 244 00:19:39,372 --> 00:19:43,861 And what we have to do is brand marketers to say it's for you and it's not for you 245 00:19:44,102 --> 00:19:46,471 I didn't separate you because of who your parents were 246 00:19:46,472 --> 00:19:47,112 I 247 00:19:47,112 --> 00:19:51,992 Separated you because of what you believe and what you dream of if you want to switch what you dream and what you believe of 248 00:19:52,062 --> 00:19:57,002 It might be for you. So I guy walk by the Supreme store. I see these people are idiots 249 00:19:58,332 --> 00:20:05,732 Good because it's not for me. It's for them. Perfect. I like that. I like that a lot. So 250 00:20:07,302 --> 00:20:14,492 You know search engines and social media websites are collecting data on us whether we know it or not whether we like it or not 251 00:20:14,712 --> 00:20:19,441 but if so if I'm a marketer and I've got and I'm trying to build a brand then how do I 252 00:20:20,502 --> 00:20:24,272 how do I find out who my audience is because I think sometimes 253 00:20:25,602 --> 00:20:33,482 We think it's one audience exactly. We might be completely missing the mark exactly. Okay, so let's start with the data collection thing 254 00:20:34,032 --> 00:20:36,032 Every time I go to Amazon 255 00:20:36,072 --> 00:20:38,941 they rearrange the whole store for me and 256 00:20:39,822 --> 00:20:43,622 Every time I go to a regular bookstore, I am frustrated because they don't 257 00:20:44,382 --> 00:20:46,951 It but like what is what are the cat books? 258 00:20:46,952 --> 00:20:51,272 I don't like cats every time you know, I'm coming just take all the cat books out of the store 259 00:20:51,272 --> 00:20:56,491 They don't do that for me Amazon does so when this is done properly 260 00:20:57,062 --> 00:21:04,712 People are happy it's being done because it's being done for them not to them when it's done improperly 261 00:21:05,322 --> 00:21:09,992 It's when you get a phone call from your credit card company and they say we noticed you've been going to 262 00:21:10,062 --> 00:21:14,921 A lot of singles bars and strip clubs. Here's a coupon for free venereal disease testing 263 00:21:14,922 --> 00:21:21,791 You don't want that phone call because you didn't ask for that engagement with them, right? So it's not about privacy 264 00:21:21,942 --> 00:21:23,662 It's about being surprised 265 00:21:23,662 --> 00:21:27,281 Okay. So now we go to serve some people 266 00:21:28,192 --> 00:21:31,482 I'll begin by saying I don't think you have any business being a marketer 267 00:21:31,732 --> 00:21:34,571 Unless you have empathy for the people you are seeking to serve 268 00:21:35,362 --> 00:21:38,081 So what do I mean by empathy? I mean 269 00:21:38,722 --> 00:21:43,091 You don't know what I know. You don't want what I want. You don't believe what I believe 270 00:21:43,822 --> 00:21:46,572 Here I made this it might be for you 271 00:21:47,572 --> 00:21:51,191 now the best way to begin as an amateur marketer is to 272 00:21:51,862 --> 00:21:56,921 Start with people who believe what you believe and want what you want great. Do you know who those people are? 273 00:21:57,162 --> 00:21:59,162 Can you imagine them start there? 274 00:21:59,662 --> 00:22:04,212 You will find some people in that segment because you made it for you, right? 275 00:22:04,212 --> 00:22:09,191 So if you love to surf and to be on social media than inventing the hero camera 276 00:22:09,532 --> 00:22:13,212 Probably a good idea because you knew what it's like to be one of those people 277 00:22:14,242 --> 00:22:15,292 but 278 00:22:15,292 --> 00:22:17,982 Sony should have invented to hear our camera and they didn't 279 00:22:18,412 --> 00:22:23,952 Because there wasn't a professional market around the scene who said I don't surf I don't want to be on social media 280 00:22:23,952 --> 00:22:25,952 but I could imagine what that would be like and 281 00:22:26,602 --> 00:22:30,791 So we begin with that we begin by asserting what a group 282 00:22:31,492 --> 00:22:35,201 Who believes a thing might want to do how do you do that? 283 00:22:35,302 --> 00:22:41,291 Well, you can learn a lot by noticing you can learn a lot by thing. Why is there a line at the supreme store? 284 00:22:41,362 --> 00:22:47,681 Why are people buying pokeballs right why are people doing this? Why are people doing that and those people? Who do that? 285 00:22:47,752 --> 00:22:50,592 They're also doing this which has nothing to do with that 286 00:22:51,232 --> 00:22:58,151 but they're all doing it is because they're all doing it or because there's something those things have in common a feeling and 287 00:22:58,762 --> 00:23:06,251 So what our job is as marketers is to suss out that feeling make an assertion and then present it to those people 288 00:23:06,742 --> 00:23:11,622 Not spend a lot of time in focus groups because people don't know what they want. They just know what they dream 289 00:23:12,712 --> 00:23:15,881 So is your recommendation then you know? 290 00:23:16,642 --> 00:23:18,352 Let's say I am 291 00:23:18,352 --> 00:23:24,611 The GM right and and I'm looking just to create this product. Would you recommend then? 292 00:23:25,162 --> 00:23:29,381 seeking out someone who has expertise in that area and bringing them on the team is like a 293 00:23:29,782 --> 00:23:34,511 Consultant or full-time hire or should we all just eat drink and breathe 294 00:23:35,212 --> 00:23:39,852 that subculture, you know for the next year and figure it out like 295 00:23:42,622 --> 00:23:44,422 You know when I was 296 00:23:44,422 --> 00:23:46,722 Building Yoyodyne. We were hiring a lot of people 297 00:23:47,272 --> 00:23:49,842 So we took out a full-page ad in The New York Times 298 00:23:50,422 --> 00:23:54,521 Which was super fun to do and 500 people showed up and we interviewed them in groups 299 00:23:54,762 --> 00:23:56,482 It was really cool 300 00:23:56,482 --> 00:24:01,242 And we sat around the table the groups of eight and the question I asked the group of eight is working together 301 00:24:01,372 --> 00:24:04,092 There was no Google that no smart phones working together 302 00:24:04,792 --> 00:24:07,241 Figure out how many gas stations there are in the United States? 303 00:24:07,972 --> 00:24:13,301 And what would happen around that table? Every time two people would say I'll take notes 304 00:24:14,212 --> 00:24:16,212 two people would say 305 00:24:17,872 --> 00:24:21,432 Whatever anyone else suggested no, that's wrong. We don't know the answer 306 00:24:22,042 --> 00:24:26,621 Two people would say not much of anything and then two people would lead this conversation 307 00:24:26,622 --> 00:24:29,412 It's really fascinating and you can guess who I hired 308 00:24:30,922 --> 00:24:32,922 But every once in a while 309 00:24:32,992 --> 00:24:36,672 Someone would say I don't know. I don't have a car 310 00:24:37,462 --> 00:24:44,621 And that was really frustrating to me. It wasn't a question of how many guest agents. Have you seen in your life? 311 00:24:45,142 --> 00:24:46,882 it was 312 00:24:46,882 --> 00:24:54,102 Figure out how to be wrong on the way to being right how to make this series of assertions about where to go. So 313 00:24:56,452 --> 00:25:02,952 When you think about the people who built I don't know dropbox dropbox 314 00:25:04,372 --> 00:25:06,402 was built to solve a personal need 315 00:25:07,042 --> 00:25:11,052 That's great as far as it goes, but if you want to be a professional marketer 316 00:25:11,182 --> 00:25:14,651 You got to do it again for somebody else's need 317 00:25:15,082 --> 00:25:19,781 And the way you do that is by gaining the empathy to imagine what it is to be in their shoes 318 00:25:20,062 --> 00:25:23,592 Don't have to be a woman to make pantyhose. You just have to be empathic 319 00:25:24,142 --> 00:25:28,001 Let's shift gears and talk a little bit about mission driven companies. I 320 00:25:29,182 --> 00:25:31,812 mean, it's been a 321 00:25:32,572 --> 00:25:38,621 slow burn so TOMS shoes and Warby Parker and you know 322 00:25:38,622 --> 00:25:42,311 These are some of the standout kind of cliche case studies. We talk about all the time 323 00:25:43,461 --> 00:25:47,591 But mission driven or Purpose Driven or maybe what you're saying work that matters? 324 00:25:49,071 --> 00:25:51,071 Maybe they're one in the same 325 00:25:51,502 --> 00:25:57,132 how do we how do we get there and if we're not thinking about this should we and 326 00:25:57,502 --> 00:26:01,032 If we should then how should we reframe or re? 327 00:26:01,821 --> 00:26:03,821 Configure what we've already got going 328 00:26:04,581 --> 00:26:06,052 well, I 329 00:26:06,052 --> 00:26:08,052 think the words matter so I mean 330 00:26:08,482 --> 00:26:15,492 I've known you for about almost ten years. Now, you are running a mission-driven organization. I know what your mission is and you have 331 00:26:16,132 --> 00:26:17,931 kept - your mission 332 00:26:17,931 --> 00:26:19,642 through thick and thin 333 00:26:19,642 --> 00:26:23,802 That doesn't mean you are giving shoes to kids in Rwanda 334 00:26:24,012 --> 00:26:28,361 It means you seek to make change you are changing 335 00:26:28,882 --> 00:26:31,121 group of people who do work with leverage 336 00:26:31,522 --> 00:26:36,461 You can visualize who those people are and the people who aren't those people you're not trying to change them 337 00:26:36,922 --> 00:26:42,941 you have a mission the medium could change you could stop using video and switch to podcasting, but your mission would be 338 00:26:43,252 --> 00:26:50,142 Consistent and so I begin there which is too often. We get hung up by reverse engineering our mission 339 00:26:50,142 --> 00:26:55,032 We say I'm making money doing X, so I will come up with a phrase that will let me keep doing X 340 00:26:55,402 --> 00:26:57,402 That's not what you or I are talking about 341 00:26:58,191 --> 00:27:00,881 When I think about someone like Blake at TOMS shoes 342 00:27:01,581 --> 00:27:04,271 Blake wanted to have a business that made money 343 00:27:04,821 --> 00:27:10,991 But also cared very much about the footprint that he was leaving behind. No pun intended with Tom's and 344 00:27:12,591 --> 00:27:20,021 So then yes, they can make coffee and they can make sunglasses and they can make the other things that they've tried to make 345 00:27:20,691 --> 00:27:23,081 Because it's not about shoes 346 00:27:23,752 --> 00:27:28,481 It's how do I get an early adopter of fashionista? Who wants a story? 347 00:27:28,482 --> 00:27:33,402 She can tell her friends to be able to buy a product. That's gonna have a better 348 00:27:33,831 --> 00:27:36,461 Positive impact on the world than the one she's currently buying 349 00:27:36,532 --> 00:27:41,141 That's the mission back to psychographic exactly and you know 350 00:27:41,142 --> 00:27:46,291 So Warby Parker, they don't make a big deal of the fact that every time you pair by a pair of glasses 351 00:27:46,291 --> 00:27:49,891 They give one away. That's not why they want you to buy a pair of glasses 352 00:27:50,412 --> 00:27:52,412 what they've said is 353 00:27:53,201 --> 00:28:00,690 For the kind of person who has better taste than they have a bank account right more desire to impress then they have cash 354 00:28:01,301 --> 00:28:03,871 how do we use the Delta between 355 00:28:04,421 --> 00:28:09,451 What luxottica would charge for these glasses and what we would charge for these glasses to create? 356 00:28:10,122 --> 00:28:16,351 convenience and a vibe of fitting in alright because it's interesting if you couple things I could say about war be 357 00:28:18,581 --> 00:28:20,581 Before war be open retail stores 358 00:28:21,012 --> 00:28:26,071 They didn't know a what a retail store would look like that would work for them and be where to put it 359 00:28:26,471 --> 00:28:30,871 So what they did was they bought a school bus and they outfitted the school bus 360 00:28:31,601 --> 00:28:33,252 like a store and 361 00:28:33,252 --> 00:28:39,871 then they would go on social media and say the store will be here and they would park the bus in different places and 362 00:28:40,061 --> 00:28:43,501 Any place the bus did well, that's where they knew a store would do 363 00:28:43,502 --> 00:28:47,911 Well like a food truck right, but it was brewing because it wasn't a food truck just to be a food truck 364 00:28:47,911 --> 00:28:55,351 it was intended to be a test of the store direct marketing thinking there a direct marketing company, but the other thing that's interesting is 365 00:28:55,992 --> 00:29:02,671 the cost to Warby to have 10 times as many glasses as they have would be zero to have every you know, 366 00:29:02,671 --> 00:29:07,261 They don't sell these I'm glad because I'm the only one who has them, but they could sell these why don't they? 367 00:29:08,291 --> 00:29:09,612 because 368 00:29:09,612 --> 00:29:12,152 We'll be saying people like us wear glasses like these 369 00:29:12,732 --> 00:29:15,482 You don't have that many choices and so you can't screw up 370 00:29:16,032 --> 00:29:21,751 There's only 20 or 30 looks to look to choose from that's exactly how many the slightly insecure 371 00:29:22,301 --> 00:29:26,040 fashion-forward glasses shopper wants to look at and 372 00:29:26,351 --> 00:29:30,871 Wore B's bet is that they can sell that person a new pair of glasses every three to six months 373 00:29:31,242 --> 00:29:36,961 Whereas if it was looks odd, okay, you can't afford right. So again, the psychographic is what's baked in 374 00:29:37,632 --> 00:29:44,341 Warby isn't busy running ads of people who live in foreign lands who don't have glasses. That's not their story 375 00:29:44,652 --> 00:29:47,821 That's not the story that resonates with the people they seek to serve 376 00:29:48,041 --> 00:29:54,331 Yeah, and if I can add to that, I think that they use a user experience company exactly 377 00:29:54,331 --> 00:29:59,041 So it's one of the smoothest user experiences I've ever had on the West super-convenient down respect 378 00:29:59,202 --> 00:30:07,031 Yeah, and it's quick and and they have a Zappos Amazon like, you know customer service return policy. There's lots of things going for them 379 00:30:08,932 --> 00:30:10,822 That's awesome 380 00:30:10,822 --> 00:30:13,211 How about the the white space? 381 00:30:13,211 --> 00:30:18,161 I like to talk about the white space, you know things that we're missing in marketing what our marketers missing 382 00:30:18,162 --> 00:30:21,042 I mean if you're a career marketer, you've done it all and 383 00:30:21,711 --> 00:30:24,971 You know, I've been on the client side. I you know, I worked for a big company 384 00:30:25,042 --> 00:30:29,501 we had a big P&L and I did everything radio and TV and 385 00:30:29,662 --> 00:30:33,162 billboards and I took over the internet and spent gobs of money, but like 386 00:30:35,211 --> 00:30:42,611 What what don't I know about right now that I'm missing well, I think the two biggest things are connected number one 387 00:30:43,312 --> 00:30:45,312 Your factor isn't worth much anymore 388 00:30:45,892 --> 00:30:50,261 It used to be worth everything so you had to defend the factory 389 00:30:50,601 --> 00:30:53,891 You got to say this is what we know how to make so this is what we sell 390 00:30:54,622 --> 00:30:56,122 but now 391 00:30:56,122 --> 00:31:01,752 Everything's a click away so you can sell anything you want. So don't come at this as the customers wrong 392 00:31:01,752 --> 00:31:08,562 I have this briefcase full of stuff. This is what I have to sell. It's how can I solve this person's problem? 393 00:31:08,572 --> 00:31:15,491 How can I market with them instead of at them and the second thing is attention used to be cheap. I 394 00:31:16,221 --> 00:31:18,641 Think about it the phrase CPM 395 00:31:19,792 --> 00:31:22,182 Damn doesn't stand for a million. It stands for a thousand 396 00:31:22,182 --> 00:31:29,411 I'm not sure why cause per thousand we're buying people's lives a thousand at a time for pocket change and 397 00:31:30,201 --> 00:31:37,811 Since it's so cheap what the hell put a talking bear up do this interrupt this crazy, Eddy, whatever it's cheap 398 00:31:37,812 --> 00:31:39,812 We'll just try something else tomorrow 399 00:31:40,492 --> 00:31:42,471 and now it's not 400 00:31:42,471 --> 00:31:44,921 Like all of a sudden now, it's not now 401 00:31:44,922 --> 00:31:49,692 It's really expensive a thousand two fans ten thousand true fans 402 00:31:50,182 --> 00:31:54,701 It's enough to build a whole company a hundred thousand, true fans. You're all it's a homerun 403 00:31:55,221 --> 00:31:56,902 100 thousand, that's it 404 00:31:56,902 --> 00:31:59,081 so the mindset of oh 405 00:31:59,331 --> 00:32:05,200 I don't have to just show up arrogantly saying I insist I can show up and listen and assert and 406 00:32:07,732 --> 00:32:11,832 Everyone is not the goal cannot be the goal someone so 407 00:32:12,792 --> 00:32:17,971 How is then that helped you with your marketing channels, you know 408 00:32:17,971 --> 00:32:24,901 You've got these products or services whether it's the LT MBA or the the marketing seminars that what we're calling it 409 00:32:24,902 --> 00:32:31,861 Yes marque semenovka or your podcasts akimbo or your ongoing blog or new books? 410 00:32:31,992 --> 00:32:33,992 So I got super lucky 411 00:32:34,062 --> 00:32:36,062 because I decided I 412 00:32:36,642 --> 00:32:38,292 Didn't want more 413 00:32:38,292 --> 00:32:41,731 I'm looking over your shoulder. And Tom Peters book is on you right over your shoulder 414 00:32:41,832 --> 00:32:48,151 And I talked to Tom he was my hero. I actually met him in 1983 when I was 23 years old and 415 00:32:48,732 --> 00:32:49,872 I 416 00:32:49,872 --> 00:32:51,872 Was on stage he was coming on 417 00:32:52,362 --> 00:32:54,032 After we were doing our tech check 418 00:32:54,032 --> 00:32:59,312 I was holding my three-year-old because he had come down with me for the weekend and 419 00:32:59,652 --> 00:33:04,292 At the time tom was doing between 90 and 105 speeches a year. I 420 00:33:05,202 --> 00:33:12,301 Have a picture of him sleeping on a park bench in Siberia to the Siberian Airport. I said Tom 421 00:33:14,262 --> 00:33:20,491 What how did you like what and he said I used to be able to do a great Tom Peters invitation 422 00:33:20,492 --> 00:33:21,702 I can't do it anymore 423 00:33:21,702 --> 00:33:27,271 He said I had no choice. I have no choice. This is what I do. So it's like a shark 424 00:33:27,272 --> 00:33:29,142 it's like what he does and 425 00:33:29,142 --> 00:33:35,401 I looked at that and I said I don't want more I don't want what Tom's got. I don't want the biggest blog 426 00:33:35,401 --> 00:33:41,521 I don't wanna have the number one best-selling book. I am NOT interested in whatever I would have to do to get more I 427 00:33:42,042 --> 00:33:45,271 Am happy with enough to do it for the people 428 00:33:45,792 --> 00:33:49,292 Who want me to do it with them because I made that decision 429 00:33:49,332 --> 00:33:53,821 I was able to stumble on this idea of the smallest viable audience. So 430 00:33:54,582 --> 00:34:00,301 The all 10 be a which is one of the most successful program of its kind has had three thousand graduates 431 00:34:00,642 --> 00:34:02,372 That's all three thousand 432 00:34:02,372 --> 00:34:08,851 So yes, it's many times bigger than Stanford Business School, but no, it's not three hundred thousand fine 433 00:34:09,460 --> 00:34:16,050 The marking seminar. My blog is read by I guess like a million people six thousand. I've taken the marketing seminar 434 00:34:16,112 --> 00:34:22,741 Could I have goosed it to sixty thousand of course I could but that I wouldn't be me and so my posture has been 435 00:34:23,232 --> 00:34:27,142 Don't level up on staff don't level up on spend 436 00:34:27,722 --> 00:34:34,162 Put all of it into better not more because if you can make better and afford to make better because you have true fans 437 00:34:34,742 --> 00:34:36,951 maybe they'll tell their friends and 438 00:34:37,472 --> 00:34:39,862 maybe you can do this work and 439 00:34:40,411 --> 00:34:42,530 doing this work is my privilege and 440 00:34:43,081 --> 00:34:49,940 So I'm totally fine. If it's not for you great, please don't come I have there's no squeeze play 441 00:34:50,331 --> 00:34:55,881 There's no lowering the price for 12 hours metabolic why I don't need to do that don't want 442 00:34:56,581 --> 00:35:00,862 Well, and that's how you've built your brand. So I guess the follow-up question to that is 443 00:35:01,472 --> 00:35:08,482 How can we use what should be our guiding principles, you know, is it our personal value system as a quality of life? 444 00:35:08,672 --> 00:35:13,881 What can be the compass to know how to build our brand because you've you said you got lucky 445 00:35:13,882 --> 00:35:15,922 I mean, I don't know about that. I mean it seems 446 00:35:16,832 --> 00:35:21,112 Like it was pretty calculated and very strategic, but you went and I've gone down this path 447 00:35:21,752 --> 00:35:26,602 And I'm sure there's been some twists and turns whatnot. But how can then the rest of us? 448 00:35:28,862 --> 00:35:30,682 Create the compass. What is our compass? 449 00:35:30,682 --> 00:35:37,461 Well, I think you got to tell yourself the truth and it's so like author so many authors have been to see me 450 00:35:37,462 --> 00:35:41,002 I love authors. So what's your goal? I want to make change happen 451 00:35:41,312 --> 00:35:43,791 So do you care about being in the New York Times bestseller list? 452 00:35:43,832 --> 00:35:47,271 Well, yeah, I need to because then they'll help me make change ever really 453 00:35:47,822 --> 00:35:51,021 Really because I could tell you how to be on the New York Times bestseller list 454 00:35:51,152 --> 00:35:54,231 but you have to trade this this and this for it and 455 00:35:55,352 --> 00:35:57,092 many of them do 456 00:35:57,092 --> 00:36:04,791 Because they're not actually keeping track of what got them started. They're using other people's metrics to do their work and 457 00:36:05,972 --> 00:36:07,402 That's as bad as having a boss 458 00:36:07,402 --> 00:36:13,581 It's worse because now you're in this cycle so we know how to double your the number of Twitter users 459 00:36:13,582 --> 00:36:19,521 We know how to make sure that there's more of this or more that and you justify but you know 460 00:36:19,522 --> 00:36:22,701 I have to make my editor happy and I have to do this and it no you don't 461 00:36:23,282 --> 00:36:29,422 What you need to do is get clear about who's it for and what's it for and if you are clear 462 00:36:29,882 --> 00:36:32,061 Like Howard Schultz was clear. He said I 463 00:36:32,732 --> 00:36:35,961 Need America to drink better coffee 464 00:36:36,752 --> 00:36:38,752 Well, that's your mission 465 00:36:38,881 --> 00:36:44,751 Then yes, you need 19,000 Starbucks. Yes, you need to serve things throughout the day in the night 466 00:36:44,792 --> 00:36:50,211 Yes, you have to be ok with you know still quest off because you can't figure out how you get the supply chain, right? 467 00:36:50,252 --> 00:36:54,322 That's all comes with I want all of America to drink better coffee 468 00:36:56,042 --> 00:37:00,471 But on the other hand, there's a guy who's got, you know, four coffee shops in New York City 469 00:37:00,692 --> 00:37:05,212 He says I want to make better coffee period for people who want it 470 00:37:05,762 --> 00:37:10,191 He works with people he cares about his cashflow is positive 471 00:37:10,232 --> 00:37:16,012 he does the craft he wants to do and it's not someone else's agenda because he's not a public company and doesn't want to be 472 00:37:16,381 --> 00:37:18,381 So both are available 473 00:37:18,722 --> 00:37:24,921 But be consistent and the mistake that happens is someone has four little coffee shops 474 00:37:24,922 --> 00:37:26,572 They say that that's what they want to do 475 00:37:26,572 --> 00:37:33,171 But then they keep compromising so they can have 18 coffee shops that are now pretty sucky. I don't know why you did that 476 00:37:33,992 --> 00:37:37,042 well zooming out then I mean it sounds like and 477 00:37:38,042 --> 00:37:42,622 I love this idea of business being so personal it sounds like to be 478 00:37:43,141 --> 00:37:48,201 The quintessential brand marketer, it really has to start right here has to start with us 479 00:37:48,202 --> 00:37:53,812 We have to be clear about what we really want. So Phil Knight is saying, you know, we want to be the company 480 00:37:54,452 --> 00:37:57,171 the brand that stands up for 481 00:37:57,932 --> 00:38:01,042 People that is on the right set of history that does the right thing 482 00:38:02,192 --> 00:38:05,782 So I'm sure he knows profits and I'm sure he did some math 483 00:38:06,092 --> 00:38:13,161 I'm sure it's not all altruistic. But those are the types of like value based decisions. We're making right the quality of life 484 00:38:13,161 --> 00:38:18,981 How much time we want to spend at home versus traveling a hundred days out of the year? Yeah, well 485 00:38:20,641 --> 00:38:27,681 Whatever job you do whether you're a brand marketer or an accountant, I hope at some point you said what's in here? 486 00:38:27,682 --> 00:38:30,411 I don't think we need to be altruistic 487 00:38:30,411 --> 00:38:36,951 But I think we need to be some true istic meaning we are true to some people for some people 488 00:38:37,532 --> 00:38:40,161 They can't believe how great this thing 489 00:38:40,161 --> 00:38:47,271 We made is for some people they would cross the street to get it and if I go down the list of modern brands 490 00:38:48,182 --> 00:38:52,272 That is true all of them. So Procter & Gamble 491 00:38:53,002 --> 00:38:57,581 Unilever brands not so much because they own shelf space and they own 492 00:38:57,922 --> 00:39:03,131 Acres of TV the TV's getting too expensive they could probably hold on in the shelf space for a while to come 493 00:39:03,532 --> 00:39:05,532 But that's not most of us 494 00:39:05,661 --> 00:39:12,070 most of us are not seeing they're saying crystal like crystal like Crystal Light because the fact is there aren't that many people who are 495 00:39:12,291 --> 00:39:14,771 bound up in the story of Crystal Light 496 00:39:15,801 --> 00:39:21,011 But if you wanted to build an important new brand if you want to grow the brand 497 00:39:21,012 --> 00:39:25,691 You've got you can't use the old technique because we know it doesn't work anymore 498 00:39:26,361 --> 00:39:31,840 And so what can you do to make a bigger impact which is you can be some twisted you can be obsessed with 499 00:39:32,032 --> 00:39:34,032 some people and 500 00:39:34,131 --> 00:39:36,641 Make them so happy to hear from you that 501 00:39:36,801 --> 00:39:41,531 They open your email that they call you on the phone that they wait in line to see you at the booth that they tell 502 00:39:41,532 --> 00:39:44,741 Their friends and tell their friends and tell their friends that begins with someone 503 00:39:44,841 --> 00:39:49,601 Caring enough to have the grit to say we're gonna make good stuff not lousy stuff 504 00:39:50,121 --> 00:39:52,901 So how is it being back and sort of traditional publishing? 505 00:39:53,212 --> 00:39:59,141 You know back to sort of blocking and tackling making books like you've done in the past. Yeah, so of course, I'm a hypocrite 506 00:39:59,141 --> 00:40:00,291 I have 507 00:40:00,291 --> 00:40:02,351 Repeatedly said it's my last book 508 00:40:02,351 --> 00:40:08,560 I've repeatedly said the publishing industry is so crippled by the shift that I have to 509 00:40:09,801 --> 00:40:15,071 Respect the people in it, but politely decline but here I am back with my friends at penguin portfolio 510 00:40:15,202 --> 00:40:22,901 The first reason is because as the seminar developed I realized I needed a book and I know how to publish my own books 511 00:40:23,182 --> 00:40:30,821 but when I thought about the mechanics of that I realized I needed a team of people who would do it justice and 512 00:40:31,581 --> 00:40:33,232 These were the best people 513 00:40:33,232 --> 00:40:37,901 But I couldn't help myself. So the other thing that we did which we haven't announced at all 514 00:40:38,242 --> 00:40:41,171 Which is we're going to talk about after the book comes out is I actually made 515 00:40:41,692 --> 00:40:46,901 19 extra covers for the book. Okay, and here's a couple of them 516 00:40:47,212 --> 00:40:53,081 Can't show them to you in too much detail because it's sort of a secret but what we're going to do 517 00:40:54,032 --> 00:40:57,421 like my creative director and I did them all ourselves all 518 00:40:58,182 --> 00:41:04,861 18 of these covers. So there's like an alternate cover like in a magazine like you write Sports Illustrated does exactly several different athletes 519 00:41:04,932 --> 00:41:10,982 Right same magazine different cover. So what's gonna happen is if you buy an 8 pack of the book from 520 00:41:12,012 --> 00:41:15,391 800 CEO Reed who I'm working with. They're gonna put in the 8 pack 521 00:41:16,002 --> 00:41:21,542 Eight of these covers. You don't know which 8 you're gonna get collect and trade them kind of thing plus like 522 00:41:22,092 --> 00:41:24,092 800 or $1000 worth of 523 00:41:24,822 --> 00:41:30,181 free slots or discounted slot discounted slots in the videos from the seminar 524 00:41:30,432 --> 00:41:37,952 So you get all this juicy stuff for the cost of the 8 books and I got to tell you after the book was done 525 00:41:38,891 --> 00:41:43,651 Yeah, because you could there's lead times and publishing. So now you like you have all this energy, but the books done 526 00:41:44,202 --> 00:41:46,562 so it was months of work to 527 00:41:46,842 --> 00:41:52,321 Make the envelope and the custom covers and the flip side of the posters and I loved that 528 00:41:52,322 --> 00:42:00,181 I was just such joy because I'm only making 2,000 of them and I knew that only 2,000 people are gonna touch this 529 00:42:00,732 --> 00:42:03,032 but that made it even better because it was like 530 00:42:03,032 --> 00:42:08,851 Okay, we get to roll up our sleeves and be craftsmen to celebrate this other thing we're doing 531 00:42:09,401 --> 00:42:13,021 So we didn't announce it in advance because we don't want people to just wait for it 532 00:42:13,391 --> 00:42:19,801 But it's gonna come out right after the book launches. That's so cool. You are the master of creating scarcity 533 00:42:20,442 --> 00:42:24,181 You you love this idea, right? Yeah, I love it because it creates value 534 00:42:24,611 --> 00:42:29,311 yeah, it does, you know limited time or there's I'm only making 10 of these or 535 00:42:29,861 --> 00:42:31,861 Yeah, it does right so part of it is 536 00:42:32,141 --> 00:42:38,701 Tension, which is what we know is before anyone says, yes, they get like this in any field you 537 00:42:39,341 --> 00:42:46,171 have to as a marketer willingly dance with that tension because you're creating it right and 538 00:42:46,812 --> 00:42:49,051 Then on top of it scarcity creates value 539 00:42:49,212 --> 00:42:54,062 but what it does for me is the Creator is it lets me off the hook from infinity and 540 00:42:54,341 --> 00:42:57,511 Infinity has never been my friend because if you are 541 00:42:58,302 --> 00:43:00,601 Making YouTube videos and you get a million 542 00:43:01,542 --> 00:43:03,542 Visits you say well, why didn't I get two million? 543 00:43:03,732 --> 00:43:08,852 Why didn't I get four million and what I get satisfaction out of the same 544 00:43:08,852 --> 00:43:14,491 Sorry so that cuz now I know I couldn't have gotten any more cuz I don't have anymore. It makes me 545 00:43:15,102 --> 00:43:21,001 Emotionally more connected to the work than having to say, this is for everyone and I need six billion 546 00:43:22,901 --> 00:43:24,901 Somehow that makes a lot of sense 547 00:43:25,512 --> 00:43:31,621 Can I get a little bit personal too and just ask you? You know, I know you always say when I ask you 548 00:43:31,621 --> 00:43:36,001 So what's next you know next is what I'm working on right now. This is what I'm most interested in 549 00:43:36,612 --> 00:43:37,752 You know 550 00:43:37,752 --> 00:43:41,131 I've been there and I've done that that's fine. But like at some point 551 00:43:42,852 --> 00:43:45,602 Share a little bit of the Seth dream with us 552 00:43:45,641 --> 00:43:53,491 Like are you I mean we're out here sort of, you know, upstate, you know up up the traffic halfway to sing-sing prison. Yeah 553 00:43:54,512 --> 00:43:55,422 is 554 00:43:55,422 --> 00:44:00,661 the goal to like retire in Italy at some point or like you're gonna have this, you know, 555 00:44:00,792 --> 00:44:07,441 Seth part two and you're gonna be some gourmet chef or create a chocolate factory like what are some of the 556 00:44:07,842 --> 00:44:10,201 What are some of the dreams and aspirations that you've got? 557 00:44:11,082 --> 00:44:15,751 You know, I won the dream and aspiration Lottery a long time ago 558 00:44:15,792 --> 00:44:19,741 So if I wanted to live in Italy I could live in Italy and the internet makes it even easier 559 00:44:20,742 --> 00:44:24,481 I almost started top elite company. I was four days away from it 560 00:44:25,002 --> 00:44:26,802 when I 561 00:44:26,802 --> 00:44:31,802 Tasted rogue chocolate I met Sean asked a nosy I said, I can't make chocolate better than rogue 562 00:44:31,802 --> 00:44:33,762 And I can't be a better person than Sean 563 00:44:33,762 --> 00:44:38,161 So all it would be as a marketing project and I'm already doing marketing project. Let these guys 564 00:44:38,682 --> 00:44:40,682 sell chocolate 565 00:44:42,161 --> 00:44:48,301 Every once in a while I play with the idea of starting a significant entity a software company or something like that because I see 566 00:44:48,852 --> 00:44:51,721 The niches in the market but more and more 567 00:44:51,722 --> 00:44:57,961 I'll just call somebody up some CEO of the public companies they used to go through this so I don't have to 568 00:44:59,682 --> 00:45:03,151 Have that conversation today, I hope that works, but the 569 00:45:04,391 --> 00:45:06,391 essence of it is this 570 00:45:06,672 --> 00:45:11,282 For someone who's lucky enough to be able to do almost anything. He wants this is what I want to do 571 00:45:11,282 --> 00:45:15,721 I want to be a teacher. I want to be somebody who helps turn on lights and 572 00:45:16,242 --> 00:45:21,341 helps people not everybody some people see things that they can't unsee and 573 00:45:21,952 --> 00:45:26,712 It's always in the service. How do I make this place? 574 00:45:26,712 --> 00:45:30,462 I'd rather live with my kids than it was yesterday 575 00:45:31,252 --> 00:45:38,591 Because if we could all figure out how to do that that positive cycle, I think that's what makes culture matter 576 00:45:39,141 --> 00:45:44,501 So yeah tomorrow morning. I will wake up and I've done what I'm supposed to do for my publisher 577 00:45:44,502 --> 00:45:49,871 I'm off the hook, and I haven't written anything new and I'm not building a new course right now 578 00:45:49,871 --> 00:45:54,401 I've got the courses we run because they work and I want to run them again 579 00:45:54,502 --> 00:45:59,381 And I've got the team of people in 40 countries who worked with me on various projects 580 00:45:59,381 --> 00:46:01,991 And I trust them and I love them and I want to do it again 581 00:46:03,022 --> 00:46:05,022 but 582 00:46:05,091 --> 00:46:09,161 It would be very hard for me to stop doing this right now I 583 00:46:10,042 --> 00:46:12,042 Gave up. The airplanes has been 584 00:46:12,351 --> 00:46:15,340 Hard, but I've mostly done it now. I'm down to one a month 585 00:46:15,952 --> 00:46:20,952 But other than that everything else about what I do is a privilege our true privilege 586 00:46:28,592 --> 00:46:30,592 You 62891

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