Elon Musk has just bought Twitter for $44 Billion a fact that will almost certainly not have escaped your attention.
It will also be clear that he had a severe case of buyers remorse half way through the transaction and tried to trash the financial reputation of the platform in order to back out, or at the least lower the asking price.
You’d probably try and get out of a deal that was clearly over-priced in a world where tech-stock prices were nosediving all around you. The question is, would you do that at the cost of devaluing the very asset you’d leveraged yourself to the hilt to own?
For those that don’t recall the story of Gerald Ratner, it’s a good place to start when considering the place Musk now finds himself in.
In the session I covered:
– What is an insight?
– The difference between insights and data
– The formula for creating perfect insights
– The traps and mistakes people make with insights
– Insights in B2B and B2C
– My favourite examples of great insights
– My favourite examples of bad insights
Lots a very clever and probing Q&As from participants
insights are multi-faceted and can be used to create products or to engage and connect with consumers through communication. If we can reflect how our target is feeling and behaving in our advertising, they should see themselves and say “that company really understands me!”
I’m often asked to give great examples of insights being used effectively in advertising and communication and this is my top 5 list of favourites. These are personal preferences as I relate to the ideas and behaviours within the communication.
Setting up and running a start-up or small business is never easy. There are lots of tricky decisions and things that you need to consider and work on to reach the success that you hope for. Whilst it may be tricky; there is some good news!
One of these top tips is value proposition; it might sound like another bit of jargon, so what is value proposition and what makes it something you want to have?
In my latest post on Insights vs Observations I’m going to focus on a Hungarian doctor called Ignaz Semmelweis In 1846 the pervasive belief amongst the general population (including most … Read more
Lets analyse the Value Proposition of the Osman Can Ozcanli and Batu Manoğlu for Eczacıbaşı Vitra.
At first glance it seems like a cool idea, but a good Value Proposition coach needs to look beyond the initial ‘Wow’ factor and ask the difficult questions. So here goes…
1) Who is this targeted at?
2) What problem does it solve?
3) Why is it better than any number of existing alternatives?
3) Why is a sink that is initially hidden add any benefit?
I regularly engage with organisations where the #officeboor in senior management believes that they are on the lookout for universal insights. Unfortunately for that to actually happen, we’d need to imagine we operate in a soulless homogenous market place and believe that all our customers value the exact same thing, hold the same priorities and speaks exactly the same way about them. Which is a little tricky to believe.
Henry Ford said – “If I’d asked them what they wanted, they’d have asked for a faster horse!” – Fake News – Find out why. How to debunk the myth:
Henry Ford never said that, there is no record of that quote until 2006.
It is not the customers job to tell you ‘how to solve’ the problem but to define the problem that needs solving. Tell the office boor that if they are asking the target to specify the technology, they are doing innovation wrong!
If you and your team work through these questions you should be able to quickly tell whether you have approached the value proposition from a true customer/consumer perspective and whether your idea is too complicated or over engineered to explain. These 7 sets of Power Questions for innovation expert Mat Shore will help