Ira’s third video on storytelling is by far the most popular. He's describing the positive side of the Dunning-Kruger effect. I think this video speaks to: Linear, no-threshold thinking, Minimum Effective Dose, and Cumulative Effect.
The reality is that most of us fear that we aren’t turning our marketing dollars into profit. Not consistently. Not directly. Which is why we have advertising budgets. To limit risk.
Warren Buffet and Charlie Munger made money by using a strategy that passed the test of time. At 97 years old, Munger attributes two things to his success: patience and inversion.
For every IBM, there are 100 Blockbusters. For every General Motors, there are 100 Polaroids. You can bet the leaders in your category will one day be in trouble. You can catch and pass them.
The chase for instant gratification in marketing often looks like “sales events.” Knowing when to use a sale and when to use other methods to get customers in the door makes all the difference.
You’re thinking about buying something and an acquaintance says, “Don’t do it; I bought that / hired them and it was a total waste of money. I got screwed.” Generally speaking, we believe them.