Chapter
The Efficiency Game: A Misunderstanding of Marketing
1:07:04 - 1:14:07 (07:03)
The obsession of using data to make marketing more efficient has caused a misunderstanding of what marketing truly is, a nuanced approach to delivering a message to the market.
Clips
Advertising's meaning lies in the costly signaling of talking to a large group of people simultaneously through perceived expensive media using scarce and valuable resources like celebrities, creative talent, and storytelling skills.
1:07:04 - 1:10:12 (03:08)
Summary
Advertising's meaning lies in the costly signaling of talking to a large group of people simultaneously through perceived expensive media using scarce and valuable resources like celebrities, creative talent, and storytelling skills. The misunderstanding of advertising as an efficiency game is a mistake by many in the tech and marketing industry.
ChapterThe Efficiency Game: A Misunderstanding of Marketing
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
This podcast episode talks about the different ways to create wedding invitations that convey true commitment to the partnership.
1:10:12 - 1:11:17 (01:05)
Summary
This podcast episode talks about the different ways to create wedding invitations that convey true commitment to the partnership. It compares conventional methods, using craft and effort, humor, and avoiding the pitfalls of impersonal emails to create invitations that will ensure a high turnout rate for your big day.
ChapterThe Efficiency Game: A Misunderstanding of Marketing
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
The podcast discusses how data-driven marketing may not always be the most effective approach especially in areas where the correlation between efficiency and effectiveness is low, such as creative copywriting and military strategy.
1:11:17 - 1:13:03 (01:46)
Summary
The podcast discusses how data-driven marketing may not always be the most effective approach especially in areas where the correlation between efficiency and effectiveness is low, such as creative copywriting and military strategy.
ChapterThe Efficiency Game: A Misunderstanding of Marketing
Episode#049 - Rory Sutherland - Psychology In The World Of Advertising
PodcastModern Wisdom
This episode discusses the power of persuasion through music.
1:13:03 - 1:14:07 (01:03)
Summary
This episode discusses the power of persuasion through music. The example of a military man who got away with a crime by writing love songs addressed to his victim and posting them on YouTube is discussed.