luni, 15 decembrie 2014

How You Can Build a Meaningful Brand

How You Can Build a Meaningful Brand


How You Can Build a Meaningful Brand

Posted: 14 Dec 2014 04:16 PM PST

Posted by Hannah_Smith

Earlier this year I wrote a post about the future of marketing. In it, I made a handful of predictions; arguably the most 'out there' of which was this: in the future, only brands which 'mean something' to consumers will survive. 

In today's post I'll be exploring what it takes to become a meaningful brand, and how you might go about building one.

SEO is not dead

Just so we're clear, I'm not saying SEO is dead, or that organic search is not an important channel :)
These stats speak for themselves:

However, what we're being asked to do as SEOs is constantly evolving. 

It used to be that you could build a very successful business online just by being great at SEO. But today, the SERPs are changing, and ranking first doesn't mean what it used to:

The BBC still rank first organically for 'weather'—but their listing is pushed beneath the fold. Plus, given the that the information the searcher is seeking is displayed right there in the SERP, I'm guessing they're not receiving as much traffic from this term as they once were.

But it's not just informational queries:

Skyscanner still rank first for the term 'flights to paris', but again here their organic listing is pushed beneath the fold thanks to paid search listings and the proprietary Google flight product.

Google is even going so far as to show its proprietary products against branded searches (hat-tip to  Barry Adams for pointing this out):

MoneySuperMarket's organic listing is above the fold, but Google is nonetheless being very aggressive.

As a consequence of these changes, as SEOs, we're being asked to do different things. Clients of yesteryear used to say things like:

Get us links!

But today they're saying things like:

Get us press coverage, social shares and exposure [links] on sites our target audience reads.

Whilst they may not explicitly be asking us to build a brand, nonetheless much of what we do today looks a lot like brand building. But where do we start?

What does 'brand' mean?

Before we kick off I think it's worth exploring what brand really means. We have a tendency to use 'brand' and 'company' or 'organisation' interchangeably, but in reality they are two distinctly different things.

Here's a definition:

brand - to impress firmly; fix ineradicably; place indelibly

Therefore a brand is not a brand unless it leaves a lasting impression, and of course, it needs to be a favourable impression. Essentially companies or organisations need to build brands that mean something to people.

However, right now companies and organisations are struggling to do this effectively:

"In Europe and the US, consumers would not care if 92% of brands ceased to exist" 
source

That means that consumers would only miss 8% of brands. 

Clearly we have a mountain to climb. How do we go about building meaningful brands? Particularly on SEO retainer budgets?

You can learn a lot by deconstructing the success of others

Like many in the search industry, I'm a fan of taking stuff apart to figure out how it works. So, when trying to figure out how to go about building a meaningful brand, I started by looking at what meaningful brands are doing right now.

I uncovered three core principles—some meaningful brands do all three; some just do one or two—I'll deal with them each in turn.

1) Meaningful brands find opportunities to delight customers

Most people's interactions with brands suck. But great interactions stand out and are shared. Let's take a look at some examples:

@smartcarusa

Here's how @smartcarusa responded when someone suggested that a single bird dropping would total one of their cars:

Now the takeaway here is not to rush out and make a bunch of infographics on disparate topics.
Out of context, the infographic is neither remarkable, nor particularly interesting, and I don't think it would have garnered coverage had it not been created in response to this tweet.
But I think a lesson we can take from this is that going the extra mile to respond in a novel way can yield out-sized returns.

@ArgosHelpers

This is how @ArgosHelpers responded to a customer asking when PS4s would be back in stock:

The takeaway here is not people love brands who use slang—I think this is actually a very artfully worded response. See how the brand has taken care to use the same language as their customer without being in any way condescending? That's what you need to shoot for.

@TescoMobile

This is how @TescoMobile responded when someone described their network as a 'turn off':

Whoa! 

The lesson here is definitely not 'be a dick to people who are dicks to you'; I think the lesson here is that a well-judged, cheeky response can travel.

Ultimately you need to tread carefully if you want to use this type of tactic. I think @TescoMobile got away with this one—but it is really close to the line. To do this sort of thing you need to have a deep understanding of your audience—what's considered funny and what's just plain rude? This can vary hugely depending on the niche you're working in and the public perception of your brand.

Moreover, if you're a brand engaging in this sort of activity, you need to consider not only your own response, but the potential response from your audience, too. Some brands have an army of loyal advocates. But if brands aren't careful, they may unwittingly encourage said army to attack an individual with a response like this.

Of course it's not just interactions that have the capacity to delight—sometimes being nimble is enough:

@Arbys

When Pharrell turned up to the GRAMMYs wearing *that hat* here's how @Arbys responded:

The takeaway here is not that you need a bit of luck, instead it's that you need to be ready, willing and able to take advantage of opportunities as and when they arise. I think that if @Arbys hadn't tweeted that, then someone else would have done and their brand wouldn't have benefited.

Hopefully you can see where I'm going with this; let's move on to principle two:

2) Meaningful brands give people the ability to define themselves to others

Have you ever thought about why you share what you share on social media? Most of us don't think about it too much, but The New York Times did a study on the psychology of sharing in which 68% of respondents said they share things via social media to give others a better sense of who they are and what they care about.

For example, I might share an article from hbr.org because I want you to think I'm the sort of person who reads Harvard Business Review. Or I might share an Oatmeal comic because I want you to think I have an excellent sense of humour. I might share something about the Lean In movement because I want to let you know where I stand on important issues.

If you're seeking to create a meaningful brand, this can be an excellent space to play in because brands can give people the ability to define themselves to others. Now I don't necessarily mean by creating content like this which literally allows people to define themselves:

Brands can also help people define themselves by creating things people 'look good' sharing—let's take a look at some examples:

GE's #6SecondScience

The takeaway here is to create things which are tangentially related to your brand, that people 'look good' sharing. When people shared this content they were sharing stuff that was more than just 'cool'—by sharing this content they were also able to express their enthusiasm for science.

In a similar vein meaningful brands create commercials that don't feel like commercials—again, these are things that people 'look good' sharing:

Wren's First Kiss

This film definitely got people talking. To date it's received over 94 million YouTube views and coverage on over 1300 sites. But this isn't just a video content play...

Oreo

When Oreo turned 100, they created 100 pieces of content over 100 days:

This campaign got over 1m Facebook 'likes' and thousands of pieces of press coverage. 

But actually, I think the smartest thing about this campaign was that it was highly topical content which put the cookie right in the centre of people's conversations without being self-serving.

Still with me? Let's move on to principle three:

3) Meaningful brands stand for something above and beyond their products or services

This is difficult to explain in the abstract, so I'm going to shoot straight to some examples.

BrewDog

BrewDog is a craft beer company. Their brand values are drawn from punk subculture—they're anti-establishment and believe in individual freedom.
So when Dead Pony Club ale was 'banned' because the phrase "rip it up down empty streets" was printed on the label, their response was to issue a press release apologising for 'not giving a shit' over the marketing rules breach.
Their fans loved their response:

The takeaway here isn't that sweary press releases get attention (although they undoubtedly do)—by refusing to take the ruling lying down BrewDog showed people they were a brand which stood for something beyond great beer.

Nike

A core value for Nike is "if you have a body, you are an athlete", and these values have inspired incredible creative like this:

I think that this advert is powerful because Nike isn't talking about how their trainers enhance your performance, they're talking about celebrating everyone's athletic endeavours. It's about more than just their products. 

OKCupid

I think that taking the decision to stand for something is perhaps most potent when it could actually cost a brand customers. When Mozilla appointed a new CEO, OKCupid showed this message to Firefox users:

They went on to say:

The takeaway here is not 'align your brand with a cause and win the the Internet', but rather, taking a bold stance on a relevant issue, even if it could actually hurt your business, can create a lasting impression.

What do I mean by 'actually hurt your business'? Sadly, not everyone believes in equal rights for gay couples, as such, taking this stance could cost OK Cupid.

Using these principles day-to-day

The reality for me is that right now, much of this I can't affect—sadly no clients have dropped several million into my lap and asked me to create them an ad like Nike's :)

That said, I do think that it's helped me to clarify my thinking on what it means to be a meaningful brand and how to figure out how to get there. At Distilled (the company who is good enough to employ me), the place we play most frequently is principle two—we create content which allows people to define themselves to others; things that people 'look good sharing'. 

Perhaps more importantly, we're taking the time to understand the companies we're working with better so that our creative work is better aligned with their brand values. 

And so, dear reader, over to you—I'd love to hear what you think it takes to build a meaningful brand, and what's working (and not working) for you, do let me know via the comments.

This post is based on a session I presented at SearchLove; those who are interested can view the full deck below:


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Seth's Blog : The annual plan construction set

The annual plan construction set

It's that time of year, when big companies race to put together their annual plan for the coming year. These documents, even though they're now digital, involve thousands of hours of analog meetings and discussion and compromise. To save you time, here's a simple list you can use. Just pick one or more phrases, string them together using words like, "using," and a bit of reconjugation and you're on your way.

  • Act in collaboration
  • Break existing paradigms
  • Commit to quality
  • Define new aspirational goals
  • Deliver on opportunities
  • Develop and align talent
  • Develop the optimal portfolio of differentiated brands
  • Differentiate the product base
  • Enable technology
  • Engage globally
  • Enhance the digital experience
  • Focus on our strengths
  • Grow through innovation
  • Identify new opportunities
  • Innovate through growth
  • Invest in people
  • Juxtapose complementary opportunities
  • Key partners
  • Leverage existing assets
  • Maximize returns
  • Normalize customer expectations
  • Operate more efficiently
  • Position the organization for future growth
  • Recharge the culture
  • Structure the organization for effective performance
  • Test new hypotheses
  • Understand new innovations

The problem with plans created by committees is that they are built on vague. That's because vague is safe, and no one ever got in trouble for failing to meet a vague plan. But vague is singularly unhelpful when it's time to make a hard decision.

       

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duminică, 14 decembrie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Tired of the Bears? Get Bearcrow!

Posted: 14 Dec 2014 05:58 PM PST

This is a non-economic comedy post, but I think you will enjoy it.

In the video below, I take a big swing at the Chicago Bears football team and secondarily Obamacare. Watch the video to see the tie-in.

Best Played Full Screen - Control in Bottom Right of Video



Link if video does not play: Meet BearCrow.

If you like this video, please pass it on!

Dysfunctional Bears

Video was produced before Chicago Bears offensive coordinator Aaron Kromer admitted he was the source of a Cutler "absolutely killed" the bears comment.

Kromer issued a tearful apology late last week.

In the past few weeks there have been reports of locker room fights, talk of "buyer's remorse" about Cutler, and now a blubbering offensive coordinator crying in the locker room.

Select Still Captures From Video

Jay Cutler Wanted "Sacked or Alive"



Introducing BearCrow - Guaranteed to Cure Your "BWA"



Buy Our Sister Product "BearNausea" ... "You've Got Mail"



More Inside a "Ding Dong" Than Cutler's Head



BearCrow Supports Local Schools



Buy BearCrow - Do It For The Kids



"BWA" Recognized Disease Under Obamacare



Dr. N.E. Thingoes Sure to Prescribe BearCrow and BearNausia



Hot Off the Press Announcement



Phone Operators Standing By



Mish Production



Film Credits

  • Mish: Script, Props, Announcer
  • Friend Kathy: Phone Operator
  • Neighbor Mike: Afflicted with and Cured of "BWA"
  • Mike's son Cole: Top Investigator Homer Sherlock
  • Mike's son Noah: Support the Kids
  • Liz, my Wife: Videographer
  • Friend MaryBeth: Stage Assistant

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Draghi About to Quit ECB?

Posted: 14 Dec 2014 05:32 PM PST

Rumor has it that Draghi is so fed up with German opposition to everything he wants to do with stimulus and sovereign debt bond buying that he is about to leave the ECB.

The Fiscal Times asks Why the Hell Does Mario Draghi Want to Leave the ECB Now!?
What would happen to Europe's prospects for recovery if Mario Draghi left his job as president of the European Central Bank? Would Draghi's plans to implement an ambitious policy of monetary stimulus get bulldozed by German inflation hawks and others favoring continued austerity across the Continent?

Even a week ago there seemed little reason to ask such questions. Not anymore. Draghi appears set to leave Frankfurt and return to his native Italy the first chance he gets.

This could be as soon as January, depending on a variety of circumstances in Frankfurt and Rome, according to well-placed sources who include a prominent private investor and a senior journalist in Rome. "Draghi wants out, fed up and stymied by Berlin," one of these sources wrote in a note just before the weekend. In a subsequent message: "I am hearing from several [official] sources that he is entirely fed up with the monetary politics he confronts."

Some observers in Italy reckon that Draghi thinks he has done all he can at the ECB. But it's some and some on this point.

"There are others here who say Italy now needs a president who can reassure Europe as to the direction of Italian reform policies," my journalist colleague in Rome tells me. "Draghi rates high in this respect."

Why would Draghi cash in a position of considerable international influence to take up the figurehead presidency of a mid-sized European power?

Again, no simple answers. Contrary to appearances, Draghi may have concluded recently that he won't prevail against his austerian adversaries, some sources suggest. It is more likely that, as everyone has already concluded, he recognizes that there are no promising alternatives to succeed Giorgio Napolitano, who is expected to step down as president early next year. "Draghi's a last resort for Italian politicians," in the estimation of one informed source.

For his part, Draghi denies that he has any presidential ambitions—or any plans to pack up in Frankfurt, for that matter. But my sources advise that we assign these assertions zero credibility. Draghi went home in mid-November to deliver a speech on ECB policy to students at the University of Rome, and the occasion was widely taken to be a toe in the water prior to a full-dress presidential candidacy.

Another factor evident here is Prime Minister Matteo Renzi. One, sources say he appears to think he can make more use of Draghi in Frankfurt than at home. Two, there are indications he doesn't want a figure of Draghi's weight and international stature crowding into his picture frame.

The weakness of other candidates—Romano Prodi, a former prime minister, and Giuliano Amato, a former interior minister and now a member of the constitutional court—again comes into play. Even with the failed speech and Renzi's probable resistance in view, a source in Rome concludes, "If Draghi opens the door it won't be difficult to reach the needed consensus. He'll get it if he wants it."
Draghi's "Small" Tactical Retreat Ahead of QE

The Financial Times discusses Draghi's Tactical Retreat Ahead of QE.

The ECB made some statement changes ahead of the much ballyhooed QE program expected next year, so much so that it appears the ECB does not have any real target.

But there is a difference between a "small" tactical retreat and being so fed up that Draghi is about to leave. So which is it?

I picked up the above links from ZeroHedge Mario Draghi: Goodbye ECB, Hello Italian Presidency?

I offered my own opinion on a possible move of ECB president Mario Draghi back to Italy way back on November 13.

Next Phase: Currency Wars, Deflation, Yuan Plunge

Please consider Next Phase in Currency Wars: Yen Plunge, Yuan Devaluation, and "Tidal Wave of Westbound Deflation".
Deflation Shockwave Thesis

  1. Next phase of currency wars is underway.
  2. Abe will "do whatever it takes" to produce inflation in Japan.
  3. Abe will soon "lose control of the situation".
  4. Yen sinks to 145 to US dollar.
  5. China will respond by devaluing Yuan.
  6. "Tidal Wave of Deflation" heads West.
  7. US brands China a "currency manipulator"
  8. Global currency crisis ensues
  9. Gold soars

Points 1-6 from Albert Edwards at Society General. I added points 7-9.

It may play out this way, but if so, perhaps it takes longer than March. I will give a big tip of the hat to Edwards if it plays out that way within a couple of years (whether or not my points 7-9 happen).

My only disagreement with Edwards is on a tangential issue. The problem in the eurozone is not Mario Draghi or Germany.

Draghi cannot do "whatever it takes" to spur credit and inflation because the primary problem in the eurozone is structural, with the euro itself. A key secondary problem is productivity issues between member states. The secondary issue cannot be resolved (except at the expense of Germany and the Northern states) if every country remains on the Euro.

There is little Draghi can do to spur credit creation in Europe given the above constraints, productivity issues, bank leverage, the Maastricht Treaty, and increased infighting among member states, some of which want to violate the treaty and others not.

Draghi's Next Move - Back to Italy?

Neither Draghi, nor Germany, nor any Asian countries will be pleased by Japan's attempt to boost exports by driving down the Yen. This will make it all the more frustrating for Draghi. Calls will mount for Draghi to "do something".

I suggest Draghi might just quit, then head back to Italy, perhaps as next president, perhaps to run for prime minister. If Draghi is smart, he will get out of the way before crisis hits rather than during the next crisis.

Currency Crisis Coming Up

When China reacts (and China will react if the Yen hits 145 to the dollar, perhaps before that point), the US will scream and the protectionists in Congress will call on Obama to label China a "currency manipulator".

Political necessity ensures the largest screams will not be about Japan, but about China, when China reacts to pressure from Japan.

Labeling China a currency manipulator would of course make matters much worse, but that is precisely what I expect from Congress should China devalue. Global trade would then collapse amidst competitive currency debasement. Finally, under such a scenario, gold would likely soar.
Albert Edwards pinged me with a comment agreeing with points 7-9 regarding currency manipulation, a global currency crisis, and gold.

Everyone is guessing of course. But Keynesians, led by Paul Krugman are all screaming for still more stimulus even though it clearly wrecked Japan.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Hugo Salinas Price Asks Mexico for Silver Coin to Calm the National Tantrum

Posted: 14 Dec 2014 10:36 AM PST

My friend, Hugo Salinas Price is on a mission to get Mexico to adopt a silver coin as legal currency. It's a mission I endorse 100%. His plea to the government in Mexico was written in Spanish but I asked Hugo for a translation.

In English, please consider A Silver Coin that is Money To Calm the National Tantrum in Mexico.
When a baby is having a tantrum because he's tired or sleepy, the best thing to get baby to forget what bothers him is by distracting him with anything you may have at hand: a pair of glasses, a rattle, or a bunch of keys.

The Mexican people are tired and angry, and they are having a great tantrum. It is impossible to correct or eliminate in short order the causes of their anger. What we need is to distract the angry population with some good news that will catch the popular attention and imagination.

For nine years I attempted to convince the Federal Congress of Mexico to approve legislation that would monetize the "Libertad" silver ounce, which is minted by the Mexican Mint; the coin would then have value for a given number of Mexican pesos, by means of a quote on the part of our Central Bank. The quote would be a floating quote, somewhat higher than the value of the silver ounce on the international markets, and would increase with increases in the value of silver on the markets, but never fall (in Mexican pesos value) if the price of silver should fall.

My efforts did not meet with success, but the project gathered quite a bit of support in the Congress, both on the part of Federal Congressmen as well as on the part of Federal Senators. An insignificant dispute between the PRI and the Leftist PRD caused the PRD to withdraw its support, which the PRI required to pass the legislation. ....
Hugo's Silver Currency Idea Explained

For a detailed explanation of how Hugo's silver currency proposal would work, please see Silver, liquid and illiquid, the 'modified open mint' and gold & silver as parallel monetary systems by Hugo Salinas Price.

Role of Gold in Trade

For a discussion of trade imbalances and the role of gold, please see Hugo Salinas Price and Michael Pettis on the Trade Imbalance Dilemma; Gold's Honest Discipline Revisited

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Consumer Price Deflation for 15 Consecutive Months in Spain, CPI Now -0.4 Percent

Posted: 14 Dec 2014 08:50 AM PST

Spain is in the midst of consumer price deflation going on 15 months. Inflation is -0.4% and falling. El Confidential reports Deflation is Cast in the Spanish Economy ... and No Disasters (For Now).



It is rare to see publications looking at the bright side of deflation, but here you have it.

Via translation ...
The data speak for themselves. And leave no shadow of doubt about the collapse of prices. The Consumer Price Index (CPI) ended in November yoy at -0.4%. But what is more important: far from having touched the ground, continue to fall in the coming months. Func considers in particular that the CPI will end 2014 at -0.8%. In the first two months of 2015, the index will continue to plummet to -1% in February. A general fall in prices over a significant period of time constitutes deflation.

If the analysis is done taking into account not only the IPC, which covers only the rate of change in consumer purchases - but all the prices that influence inflation (as producer prices), the result is likewise significant.

Core inflation, which excludes from the calculation energy and food products, in November stood at -0.1%.

The upside is a recovery of purchasing power. And indeed, according to Social Security, pensions have earned 713 million in purchasing power this year because they were up 0.25%, when the CPI in November to November stood at -0.4%. Therefore, a gain of 0.65% purchasing power. Between 2013 and 2014, the government estimated the gain purchasing power of pensions was 2.085 billion euros. Also, wages have risen agreement 0.6% above the CPI.

Deflation positively influences the competitiveness of the Spanish economy. While the HICP in Spain stood at -0.5% yoy, the HICP in the euro zone is 0.3%. The favorable price differential Spain continues to consolidate.
HICP vs. US CPI

HICP is the Harmonized Consumer Price Index. It differs from the US CPI as follows.
The HICP differs from the US CPI in two primary aspects. First, the HICP attempts to incorporate rural consumers into the sample while the US maintains a survey strictly based on the urban population. In actuality, the HICP does not fully incorporate rural consumers since it only uses rural samples for creating weights; prices are often only collected in urban areas.

The HICP also differs from the US CPI by excluding owner-occupied housing from its scope. The US CPI calculates "rental-equivalent" costs for owner-occupied housing while the HICP considers such expenditure as investment and excludes it.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Seth's Blog : What kind of customers do you want?

What kind of customers do you want?

Do you want customers (donors, backers, voters, members, vendors) who are:

  • Litigious
  • Price shoppers
  • Loyal
  • Bureaucratic
  • Demonstrative
  • Followers
  • Leaders
  • Luxury-focused
  • Skittish
  • Trusting
  • Bottom fishers
  • Eager
  • Confident
  • Easily amused
  • Uncomfortable talking about money
  • Part of the crowd
  • Afraid
  • Outliers
  • Desperate
  • Rich
  • Easily distracted
  • Secretive
  • Joyful

Here's the thing: you get what you reward. You attract the customers that respond to the way you act. You end up with what you tolerate. You build what your audience demands.

You might not get the customers you deserve, but you will probably end up with the customers you attract.

Sure, you can swoop in and make the numbers by attracting a certain kind of customer. Is it worth it?

Choose.

       

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sâmbătă, 13 decembrie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


France Goes After Actor Salaries; Sunday Shopping "Reform" French Style

Posted: 13 Dec 2014 01:19 PM PST

A move is underway in France to cut aid to movies if the salaries of the stars is too high a percentage of the cost of production.

The Wall Street Journal reports In France, Popular Actors May Pay for Change in Funding for Films.
Effective Jan. 1, the Centre National du Cinéma, the government agency that funds film production, will shun films in which the pay to the star actors exceeds a certain percentage of production costs. The limit varies depending on the budget; it is set at 5% for films costing between €8 million and €10 million.

"Public money isn't meant to pay salaries exceeding that sort of amount," CNC spokeswoman Françoise Pamps said.

In recent years, rising pay for top French actors such as Mr. Dujardin, who won an Oscar in 2012 for his performance in "The Artist," has claimed a bigger portion of movie budgets in France, forcing producers to rein in other spending. The trend has sparked controversy in France, where, excluding state financial support, the industry loses money, according to data from the CNC.

The attempt to cap the pay for the likes of Mr. Dujardin, Gérard Depardieu, and Marion Cotillard points up how the government's system to protect France's film industry from world competition is becoming less sustainable as the domestic economy stagnates.

The cherished French model insulates the country's film producers from market pressure through a complicated cross-subsidy managed by the CNC. The aid is generated by a levy on each movie ticket sold in the country, as well as payments imposed on TV channels and DVD sales.

In trade negotiations, the film subsidy has been targeted by the U.S. and other countries as an unfair market intervention, but France has stuck to its guns. During recent talks for a free-trade agreement between the U.S. and the European Union, the French government insisted, successfully, on keeping culture off the table.

According to an annual ranking compiled by Le Figaro newspaper, the best-paid French actors—mainly popular local comics little known abroad like Dany Boon —charged in excess of €1.5 million ($1.85 million) per movie in 2013. Mr. Boon's agent didn't answer emails seeking comments.
Preposterous Film Setup

The entire process is preposterous from start to finish. France should get out of the movie-making business altogether. Instead it pays subsidies to films that the free market would never create, then to pay for that boondoggle it charges a tax on every ticket, every DVD, and every TV station.

With all that graft, it's no wonder some actors are overpaid.

Yet, it's highly likely that some are actually underpaid. The problem is government would have absolutely no way of knowing. With all the subsidies and taxes, it's impossible to know who is overpaid and who isn't.

What we do know is that dozens of bad films are subsidized in the name of "preserving culture". It's the same setup in France's agricultural industry, and everywhere else one looks as well.

For example, please consider Sunday shopping rules.

France Seeks to Liberalize Sunday Shopping

France-24 reports France Wants to Increase Sunday Shopping.
The French government wants shops to open on more Sundays, according to a proposed reform to be unveiled this week, but the measure is running into opposition.

In a country where stores are currently subject to tight restrictions on opening hours, the move is seen as a spur to much-needed consumption in an economy badly in need of a boost.

Town halls would be allowed to grant trading licences on 12 Sundays a year, compared to the current five Sundays annually. In addition, local officials would be obliged to grant five Sundays a year whereas currently they can decide to grant none.

But the measure has run into opposition in France where, unlike in many of its European rivals, the idea of Sunday as a day of rest still attracts considerable support.

Opposition to the Sunday opening comes from all points of the political spectrum, as well as from the Catholic and union lobbies.

An opinion poll published on Friday showed that 62 percent of respondents were in favour of shops opening on Sundays, although 60 percent said they would be reluctant to work on that day.
Sunday Shopping "Reform" French Style

  • Towns halls could approve shopping on 12 Sundays up from the current 5
  • Local officials would be obliged to offer 5 Sunday shopping days

This is so controversial, debate is at the highest levels. Prime Minister Manuel Valls said "Paris in particular was at risk of seeing visitors go elsewhere to spend unless retail laws were loosened." Nonetheless, Valls noted "there will be a debate" about the proposal.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Seth's Blog : Costs before and after

Costs before and after

Before you finish your new idea or launch your new project, it's worth taking a few minutes to realize that two costs are dramatically underestimated:

1. The cost of selling. How much will it cost you to sell this to an agency, a nation, a customer? How much will it cost them to sell it to the next user?

2. The cost of maintenance. How much will it cost you to stick this project out until it pays for itself? How much will it cost your users to maintain this idea over its useful life?

Hint: It took a decade to sell most people on the personal computer. And the cost of a PC out of the box is less than 1/6th of what it costs to keep it running and in use over its life...

       

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