Feel free to ignore this podcast episode - Richard Shotton
Uncensored CMO29 Maalis 2023

Feel free to ignore this podcast episode - Richard Shotton

A return for podcast guest number 1, Richard Shotton, following the launch of his brand new book "The Illusion of Choice: 16½ psychological biases that influence what we buy".

"Every day, people make hundreds of choices.

Many of these are commercial: What shampoo to pick? How much to spend on a bottle of wine? Whether to renew a subscription?

These choices might appear to be freely made, but psychologists have shown that subtle changes in the way products are positioned, promoted and marketed can radically alter how customers behave.

The Illusion of Choice identifies the 16½ most important psychological biases that everyone in business needs to be aware of today – and shows how any business can take advantage of these to win customers, retain customers and sell more.

Richard Shotton, author of the acclaimed The Choice Factory, draws on academic research, previous ad campaigns and his own original field studies to create a fascinating and highly practical guide that focuses on the point where marketing meets the mind of the customer.

You’ll learn to take advantage of the peak end rule, the power of precision, the wisdom of wit – and much, much more."

What we covered in this episode:

  • Why the podcast 4.9 star rating is the best one
  • The meanest tweet Uncensored CMO ever had
  • Social proof gives you wings
  • Why the new book has 16 ½ chapters
  • Feel free to ignore this chapter in the book
  • Why biases affect professionals as well as consumers
  • The Russian tank effect and how AI can be misled
  • How AI design a better pair of Nike Trainers
  • Recency, primacy and the peak end rule
  • How behavioural science supports the laws of marketing
  • Jon ranks the biases
  • The Zuckerberg t-shirt principle (red sneaker effect)
  • Why breaking convention is associated with higher status
  • Always use concrete phrases not fluffy marketing nonsense
  • The more visual the phrase the easier to remember
  • Relatable stories beat cold hard statistics
  • Telling one persons story well is better than trying to represent a group
  • How well can experts predict a successful Super Bowl Ad
  • Experts are trained to see novelty rather than broad appeal
  • We are all rewarded based on sophistication and complexity rather than simplicity
  • How thicker paper led to more charity donations
  • Why marketer can’t predict how well their own advertising will do
  • Professional forecasters are no better at predicting than the average person
  • Why freedom of choice leads to much greater perceived value
  • Why we would rather suffer a loss if we now someone else has done better
  • Adverts aren’t trying to be funny anymore even though the funny ones work
  • Why making a joke would increase your tips
  • Making it easy is the best way to make someone do something
  • We radically underestimate the impact of removing friction
  • Removing friction beats customer benefits every time
  • How to frame your pricing so people buy your preferred product
  • What colonoscopies can tell us about the peak end rule
  • Why ads with a peak end perform better overall

Links

Jaksot(232)

Olympics CMO on Olympic glory and a Paralympic legacy

Olympics CMO on Olympic glory and a Paralympic legacy

Greg Nugent was the CMO for the London 2012 Olympic and Paralympic Games, one of the biggest events ever to take place. The entire world was watching as Greg’s work came to life. Before working on the Olympics, Greg oversaw the move of the Eurostar to St Pancras, which included creating the world’s longest champagne bar.Timestamps:00:00:00 - Intro00:00:51 - How did Greg get into marketing00:10:02 - Greg’s time at Eurostar00:17:47 - The longest champage bar in the world00:22:43 - Becoming the CMO of the London 2012 Olympics00:29:49 - How the team was pivotal for putting on the Olympics00:34:13 - The importance of the legacy of London 201200:37:53 - Why the Paralympics became so prevalent in 201200:45:38 - What happened after London 201200:50:37 - From Olympics to Rising Pheonix01:01:05 - How to execute on big ideas - Magic and Logic01:16:35 - The power of persistence01:23:24 - Telling powerful stories about those with disability

24 Heinä 20241h 30min

How CMO’s get a seat in the boardroom and not get fired - Chris Burggraeve

How CMO’s get a seat in the boardroom and not get fired - Chris Burggraeve

I often get asked why are there not more marketers on boards of companies? It turns out that only around 2.6% of board positions are filled by marketers, so I'm joined in this episode by somebody who really knows what it's like to be a marketer on a board, Chris Burggraeve. Previously he was the Global CMO of AB InBev, he's since been on many boards and has even written a book explaining the playbook for being a successful CMO on board.Timestamps00:00 - Intro01:00 - Chris’ marketing background01:43 - What makes a great CMO05:08 - Making the case for marketing in the boardroom09:48 - How many CMO's have a seat at the table14:36 - Why every board should have a marketer24:06 - Is there a language problem for marketers in the boardroom?30:03 - Stakeholder outreach37:00 - What makes a successful board member40:00 - Skills that CMO’s need to retain a board seat46:26 - How to find board seats to get on49:44 - Chris transistion from large to small companies

17 Heinä 202459min

From F1 to Manchester United: How marketing drives success in the worlds most elite teams - Ellie Norman

From F1 to Manchester United: How marketing drives success in the worlds most elite teams - Ellie Norman

Ellie Norman has been at the top end of some of the biggest organisations in the world, having held senior marketing roles at Formula 1 and Virgin Media. Most recently, Ellie has been the Chief Communications Officer of Manchester United, one of the most high-pressure jobs in the world. In this episode I talk to Ellie about what it takes to drive success at the very top of your game.Timestamps00:00 - Intro00:48 - Celebrating Southampton FC03:12 - Ellie’s marketing background07:29 - Virgin Media campaign with Usain Bolt12:09 - Why Ellie moved to Formula 115:12 - How Formula 1 owns the brand17:51 - The Drive to Survive partnership with Netflix25:59 - Moving to work for Manchester United29:51 - Goals for the CMO of Manchester United31:23 - When do people choose the club they support32:59 - What role does social media play for Manchester United35:01 - Dealing with scrutiny as a huge brand37:10 - How Manchester United work with huge sponsor deals41:39 - How do you do a great brand partnership47:59 - Ellie’s one peice of advice for marketers

10 Heinä 202449min

The Marketoonist on why humour is good for business - Tom Fishburne

The Marketoonist on why humour is good for business - Tom Fishburne

In this episode I speak with Tom Fishburne, better known as the Marketoonist. Tom likes to poke fun at our industry through his entertaining cartoons saying what we're all thinking. We recently had him join as as our cartoonist in residence at Cannes Lions, where he shared his experience through a cartoon each day. We also discuss some of Tom's greatest cartoons and why humour is good for business.Timestamps00:00 - Start01:16 - How Tom Fishburne became a cartoonist05:00 - Why is humour so important in the workplace06:29 - Going full time as the Marketoonist12:42 - Humour in the creative process19:21 - Outdoor ads22:30 - Discussing some of the Marketoonist’s greatest hits23:17 - IoT cartoon26:59 - Customer funnel cartoon33:05 - Shiny new things cartoon34:13 - Covid Cartoon36:32 - AI cartoon39:44 - The Marketoonist at Cannes42:37 - Day 1 Cannes cartoon45:39 - Day 2 Cannes cartoon49:31 - Day 3 Cannes cartoon53:46 - Day 4 Cannes cartoon54:25 - Day 5 Cannes cartoon57:59 - Jon’s own podcast cartoon

3 Heinä 20241h

How e.l.f built a billion dollar beauty brand - Kory Marchisotto

How e.l.f built a billion dollar beauty brand - Kory Marchisotto

Kory Marchisotto is the Chief Marketing Officer of e.l.f Beauty, a beauty company that surpassed over $1b in annual sales. They're digital first brand builders, taking the internet by storm and connecting closely with their customers. In this episode we talk about why Kory invests heavily in their brand, how every employee is a shareholder and why they collaborated with Liquid Death.Timestamps:00:00 - Intro01:15 - Kory’s background06:11 - Founding story of e.l.f08:39 - How do e.l.f make their products so affordable11:30 - Why e.l.f are investing in brand building15:15 - Staying close to your consumer19:44 - Bringing customer insight into the business21:23 - Staying agile as a large business23:43 - Where have e.l.f invested marketing spend27:28 - The e.l.f customer demographic30:57 - e.l.f’ x Liquid Death collaboration33:24 - e.l.f x Chipotle37:01 - The e.l.f culture and why it’s important41:00 - Kory’s advice to younger marketers44:08 - Why Kory shares her learnings so much on LinkedIn

26 Kesä 202446min

How Gymshark built a unicorn with influencers - Noel Mack

How Gymshark built a unicorn with influencers - Noel Mack

We're again talking about one of my favourite topics; challenger brands. In this episode we've got one of the most successful challenger brands in the world, Gymshark. They're one of the original influencer and social media creative brands, growing to be Britain's fastest growing Unicorn. I'm joined by their Chief Brand Officer, Noel Mack, to give me the inside scoop on exactly how they did it.Timestamps00:00 - Intro02:29 - Gymshark Origins04:49 - How Noel Mack bet Ben Francis07:59 - What is a Chief Brand Officer?09:28 - How Gymshark do influencer marketing differently15:17 - Growing the Gymshark community20:38 - The benefits of being a newcomer22:59 - Working at a founder-led company25:36 - When Ben Francis met the Prime Minister29:09 - The challenges of scaling up fast37:21 - Launching the Gymshark flagship store in London43:22 - What’s it like working with Ben Francis?46:46 - Career advice from Noel Mack

19 Kesä 202450min

B2B brand building in the era of AI with Jon Lombardo and Peter Weinberg

B2B brand building in the era of AI with Jon Lombardo and Peter Weinberg

Listeners of have shown me time and again that you want more B2B content, so in this episode I'm joined again by the Les and Peter of B2B, Jon Lombardo and Peter Weinberg (previously of the LinkedIn B2B Institute). We discuss why B2B marketing departments need to put their focus on building brands rather than talking about product features, why distinctive assets continue to be an essential part of any brand, and we find out what the B2B boys will be doing now they've left LinkedIn.Find out more about Jon & Peter's new company here:https://www.evidenza.ai/Timestamps00:00 - Start00:49 - The Les and Peter of B2B02:34 - The biggest B2B revelations03:52 - Is B2B really different to B2C?06:28 - Determining buying cycles08:25 - The brand building opportunity in B2B20:05 - Why B2B companies need to create fluent devices30:48 - Why Jon and Peter left LinkedIn to start a new company33:37 - What does Evidenza do38:19 - Why AI-powered market research is going to be revolutionary

12 Kesä 202450min

Cannes Lions CEO on the power of creativity, the creator economy and making connections - Simon Cook

Cannes Lions CEO on the power of creativity, the creator economy and making connections - Simon Cook

Every year, the advertising industry descend upon the south of France to meet up in Cannes over a glass of rosé to celebrate the power of creativity. So I thought it was about time that I caught up with the CEO of Lions, Simon Cook, to discuss why creativity matters.The conversation ranges from how can you make the case for creativity in business while budgets are strained, to what you can expect this year from Cannes Lions.Timestamps00:00 - Start01:37 - Origins of Cannes Lions03:38 - The scale of Cannes Lions05:19 - Creative marketer of the year07:16 - State of the Nation research09:30 - Friction between agencies and clients12:47 - Jon’s two Cannes Lions with Lucozade15:15 - The return of humour at Cannes17:46 - Trends and themes for Cannes Lions 202418:39 - Will we see an AI category at Cannes?20:01 - Big names at Cannes Lions 202421:14 - Cannes for creative effectiveness, or just celebrating the craft?23:56 - Cannes embracing creators25:27 - Jon’s pitch for a low budget category27:57 - Advice on how to win a Lion30:20 - How Simon Cook got the CEO job at Cannes Lions32:40 - Challenges Simon has faced as CEO35:09 - Dealing with criticism of Cannes Lions37:02 - The Cannes Lions legacy38:06 - Simon’s proudest moment

5 Kesä 202440min

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