vineri, 26 iulie 2013

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Funniest and Most Absurd Real Estate Promotion in Years

Posted: 26 Jul 2013 11:00 AM PDT

Those attending the iProperty.com International Property Expo in Singapore, to learn about "the best property in Asia" can win a free house by attending.



Guess where the house is located.

One might think somewhere in Asia because that's the focus of the expo. But No! The free house is located in the mother of all choice spots, Detroit, Michigan.

Check out the image.



Note the creative description: "Yes, it's true we are giving away a home! This is a gorgeous 3 bedroom brick home located in an excellent neighbourhood just a stone's throw away from key facilities like the Triumph Hospital and the Bel Air Shopping Centre. It boasts a garage and basement and has just been newly furnished. It's Freehold Landed U.S property with 3 bedroom and 1 bathroom. A lot size of 4,225 sq ft with Garage, basement and tenant included! This property has a net selling price US $38,000."

Is this ad supposed to entice people to attend or scare them away?


It's Too Late

The iProperty promotion clearly needs a nice corresponding "better buy now before it's too late" message.

And I have just the right promotional idea in mind. It's from my December 13, 2005 article It's Too Late.
I think it's too late.
In fact I know it's too late.
How do I know?
The following Email I received tonight should explain it nicely.
When you see stuff like this, not only is it too late, it's way too late.


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

Spain Levies Consumption Tax on Sunlight

Posted: 26 Jul 2013 01:03 AM PDT

Proving that idiocy truly has no bounds, Spain issued a "royal decree" taxing sunlight gatherers. The state threatens fines as much as 30 million euros for those who illegally gather sunlight without paying a tax.

The tax is just enough to make sure that homeowners cannot gather and store solar energy cheaper than state-sponsored providers.

Via Mish-modified Google Translate from Energias Renovables, please consider Photovoltaic Sector, Stunned
The Secretary of State for Energy, Alberto Nadal, signed a draft royal decree in which consumption taxes are levied on those who want to start solar power systems on their rooftops. The tax, labeled a "backup toll" is high enough to ensure that it will be cheaper to keep buying energy from current providers.

Spain Privatizes the Sun

Via Google translate from El Pais, please consider Spain Privatizes The Sun
If you get caught collecting photons of sunlight for your own use, you can be fined as much as 30 million euros.

If you were thinking the best energy option was to buy some solar panels that were down 80% in price, you can forget about it.

"Of all the possible scenarios, this is the worst," said José Donoso, president of the Spanish Photovoltaic Union (UNEF), which represents 85% of the sector's activity.

Before the decree it took 12 years to recover the investment in a residential installation of 2.4 kilowatts of power. Following the decree, it will take an additional 23 years according to estimates by UNEF.
Petition of the Candle Makers Revisited

And so the "Petition of the Candle Makers" comes to pass.

I have written about the "petition" on many occasions, but here is the latest reference: Extremely Difficult to Keep Up With Economic Stupidity
Reflections on "Unfair Competition"

Corporations always consider it "unfair" when any other company can do things faster, smarter, or cheaper than they can. The buggy whip industry once protested cars.

Today, land-line telecom companies have to compete with wireless and they don't like it. Now, we see protests about VOIP (voice over internet protocol).

Technology marches on. But France does not like it. The French solution is to tax Skype because it has an "unfair advantage".

This is an age-old unwinnable argument.

Petition of the Candle Makers

The ultimate irony is France's preposterous "unfair advantage" argument was lampooned by French economist Frederic Bastiat back in 1845 when he penned 'Petition of the Candle Makers'.

In his article, candle makers were incensed that the light of the sun could be had for free. The sun's unfair trade advantage was to the "detriment of fair industries" who could not compete against the sun's price.

Something had to be done to "shut off as much as possible, all access to natural light, and thereby create a need for artificial light" so that "industry in France will encouraged".
The moral to this story is "Don't propose something purposefully stupid hoping to make a point. Some idiot might actually think it's a good idea and do it".

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

Thousands Joined In. Did You?

The White House Friday, July 26, 2013
 

Thousands Joined In. Did You?

President Obama is fighting to build a better bargain for the middle class -- one that ensures that everyone who works hard can get ahead in the 21st century economy. And this week, he asked you to add your voices to the debate.

The response has been amazing. We've already received tens of thousands of submissions, and we're getting more every day.

There's just one problem: We didn't see your name.

Click here to add your name in support of the middle class.

Thanks to the grit and resilience of the American people, we’ve cleared away the rubble from the financial crisis and begun to lay a new foundation for stronger, more durable economic growth. But we’re not there yet. We need a strategy that builds on the cornerstones of what it means to be middle class in America, and what it takes to work your way into the middle class. Good jobs. A good education. Homeownership that’s based on a solid foundation. Affordable health care that’s there for you when you get sick. A secure retirement even if you’re not rich. More chances for folks to earn their way into the middle class as long as they’re willing to work for it.

The President thinks that some in Washington haven't been focused on what really matters to middle-class Americans. Join the thousands who have already signed their names and help bring clarity to this debate. Let us know that you think the middle class matters, and that our economy grows best from the middle out, not the top down.

So if that's something you believe in, if you think we need to make our economy work for working Americans, will you add your name?

Stay Connected

 

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President Obama's Busy Week

Here's What's Happening Here at the White House
 
 
 
 
 
 
  Featured 

President Obama's Busy Week

This week, the President Obama traveled to Illinois, Missouri, and Florida to lay out his economic vision for the economy. The President also hosted the NCAA Champion Louisville Cardinals and the President of Vietnam, and he pressed for the passage of comprehensive immigration reform.

Click here to watch the latest installment of "West Wing Week."

Watch this week's West Wing Week

 
 
  Top Stories

President Obama Talks Infrastructure at the Jacksonville Port

In Jacksonville, President Obama continued making the case for his vision for an economy that grows from the middle out, not the top down.

READ MORE

Vice President Biden Meets India's Future Scientists and Engineers

At the Indian Institute of Technology, Vice President Biden met a group of women he called “India’s future”—the country’s next generation of scientists and engineers.

READ MORE

President Obama Meets with President Truong Tan Sang of Vietnam

President Obama met with President Truong Tan Sang of Vietnam, the first bilateral meeting between the two leaders and an opportunity to further strengthen the relationship between our countries.

READ MORE

 
 
  Today's Schedule

1:45 AM: The Vice President meets with Prime Minister Shinzo Abe of Japan

2:30 AM: The Vice President meets with President Tony Tan

3:00 AM: The Vice President meets with Prime Minister Lee Hsien Loong

3:45 AM: The Vice President and Prime Minister Lee deliver statements to the press

4:15 AM: The Vice President meets with Mr. Lee Kuan Yew

9:30 AM: The President departs Joint Base Andrews en route Camp David

7:00 PM: The President arrives at the White House

11:55 PM: Vice President Biden Speaks to Workers WATCH LIVE

 

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The Key to Empowering your Marketing Team - Whiteboard Friday

The Key to Empowering your Marketing Team - Whiteboard Friday


The Key to Empowering your Marketing Team - Whiteboard Friday

Posted: 25 Jul 2013 06:17 PM PDT

Posted by randfish

What holds marketing teams back from accomplishing great things? In today's Whiteboard Friday, Rand tackles the big challenges many internal marketing teams face, and outlines a way to bring structure and empowerment back to your marketers.

Have something to add? Leave your thoughts and questions in the comments below!

For reference, here's a still of this week's whiteboard.

Video Transcription

Howdy, Moz fans, and welcome to another edition of Whiteboard Friday. Today I'm going to be talking to you a little bit about what holds marketing teams back from being able to accomplish great things inside of companies, and for external marketing teams that are on an agency or consulting basis, but really oftentimes internally.

So this, I've got here my six little friends. This one, this guy is kind of awkward. His back is a little out of whack. But that's okay. He's just a stick figure. He's probably feeling just fine.

The challenge for these guys is that they constantly need their work reviewed. They're kind of in the weeds, in the trenches doing marketing activities, building content, trying to get that content shared and linked to, trying to earn rankings and traffic, trying to buy advertising, trying to influence the website and the marketing materials, make the conversion rate higher, do all these things to promote the marketing funnel improving. Yet they're constantly changing course, sometimes daily, sometimes even hourly. Boss comes in, it's sort of like, "No, no, no, don't do that anymore. Focus on this thing. No, wait, I know I told you to do that, but we don't need that anymore. We need this other thing."

They're not empowered to make decisions, not even about their own work. They really have to get constantly reviewed. Someone comes and gives them feedback on everything they do. I've been this marketer myself before. Especially as a consultant, you're oftentimes in this position. You don't have that empowerment to make great decisions.

But there's a way to fix this, and it's an architecture I want to share with you that's been really powerful for me and for a number of other companies that have adopted this and that have shared it too. So the idea is basically that what we want to do is we want to take all the things that the company wants to accomplish today, in the future, in the far, far flung future, and we want to connect that all the way down to what the marketing team is actually working on today, right now. But it takes a little bit of work, and it takes a lot of transparency, and it takes some thinking. If you don't have this architecture yet, you should give it a try. Let me show you what I'm talking about.

A big company vision is a great starting point. I know many small and medium businesses don't even really have a great big company vision. But if you can imagine one, if you can put one on there, "We want to be Cleveland, Ohio's best marketing agency, and we define best as our clients are the happiest, we have the most clients, and we have the highest revenues in the city." Okay, great, now you've got a company vision. Moz's vision, for example, is to help people do better marketing. Tesla's vision is to transform how the world is transported. NASA has an organizational vision to explore space. So you can get a company vision.

So let's say it is, "Help people do better marketing." From that flows things that you're going to do over the next few years. It could be five years, it could be just two or three years, but the mission that you have. I'm going to go back to Tesla again because I love Tesla's five-year mission. Tesla's five-year mission is to "Power the transformation from gas to electric vehicles and to become the world's leading car company by doing that." So become the world's leading company by powering the transformation from gas to electric.

Okay. Then, based on that mission, that thing that you want to accomplish over the next few years, you have a BHAG. A BHAG is Big Hairy Audacious Goal. I know it sounds a little funny, but this acronym is actually quite important, and so are all the letters in there. Big because you want it to be hard to achieve. My favorite thing that people say about a BHAG is,
"It's out of reach, but not out of sight." A goal that is out of reach, I can't see us accomplishing it today. My God, it's almost hard to imagine that we accomplished it, but not completely out of sight.

So perhaps Tesla would say that their BHAG is to be the world's number one auto manufacturer in ten years or in five years. That means that they have to build so many cars and sell so many cars that they are the world's leading car company through number of cars on the road. For Moz, our BHAG is one million people subscribing to our platform. For your Cleveland, Ohio consulting agency, it might be successfully keeping and maintaining 100 paying customers at $5,000 a month or more for a full year, nonstop. Whatever it is, it has to be definable, easily definable, easily measurable, and powerful, something that people can get behind.

I'll go back to NASA again. That moon mission that they had, in the 1960s NASA had the moon mission and the BHAG for the moon mission was, "Put a man on the surface of the moon and return him safely to the earth." Super measurable, super definable, incredibly powerful to get behind. If you're doing marketing for that, you can see that big vision and that big goal very clearly. Then from there, from these two, I'm going to take our mission and our BHAG, and I'm going to define a list of strategic goals, things we need to accomplish in order to get these things done. But they're going to be things that we do over the next 6 to 12 months, just 6 to 12 months, just the next little while. This is really powerful because those strategic goals should flow down to everything else that the company does.

So if, for example, I say, "Hey, in order to sell more cars, Tesla needs to open Tesla dealerships in 500 cities over the next 12 months, and here's the list of cities." Okay, that's a strategic goal. Now we've got to go get that done. We need to figure out people who know how to open stores and people who know about real estate, and we need to have a bunch of investment dollars that we can put it in these things. We need to figure out how long it is before we open a dealership before that actually turns into sales for us. We need to hire all the salespeople. We need to build a process for that. Huge list of things that come from those, but the strategic goal is very simple. "Open stores in 500 cities."

At Moz, one of our strategic goals is to increase the retention of our Pro subscribers. Build stuff. Make stuff in the product that makes people want to stick around and use Moz longer. Okay, these are strategic goals.

Then, from there, now we really start to get into the nitty-gritty with the marketing goals being tied to these company goals, and this is such a powerful architecture. It just removes all kinds of barriers, because now I can go and I can build a process like this, right here. So I take a goal that the team is trying to accomplish, and I translate that into what my actual marketing task is around it. Then I have the process and the people that I need for that goal. So actually, I'm going to use my checkboxes that I actually made.

I define my goal, I get the process and people I need, I figure out how we define success, what the measurable elements are. Maybe it's, "Hey, we need to broaden our brand's reach." We want to have more people exposed to the Moz brand, and so therefore, we are going to define a goal as half a million people following our Twitter account and 100,000 people following our Google + account, and maybe a million people following us on Facebook and whatever those things are.

Then you have those metrics-based targets. So those could be website visitor statistics. They could be conversions. It could be an ROI number. It could be a cost number. Many times a strategic goal will be to reduce cost to a certain amount, and then you have these goals. "Hey, we need to reduce customer acquisition costs. We need to find channels that don't cost as much." Oftentimes, inbound channels don't cost as much, things like SEO and email marketing, opt-in email marketing, community building, and content and those kinds of things, that's a great way to reduce customer acquisition costs. It could be a marketing goal, and you figure out who the process and people are behind that. We may need a writer. We're going to need someone who is a marketing analyst to do all the statistics work. We're going to figure out how we measure success. That's going to be measured through number of people acquired through these lower-cost channels. We're going to have metrics-based targets. We're going to say we want to acquire 20% of our customers through non-paid channels by the end of 2013.

Great. Now you have something so amazing. You have marketers that can see the big picture. They can see all the way. They know everything that's connected here, and that means that they know how their work matters. I can't tell you what a change in attitude you get when you understand how your work matters versus wondering why you're pushing buttons. It's just a remarkable change. Now, those same people can navigate project complexity without needing someone over their shoulder, looking all the time at their work, making sure that they're doing the right thing, reviewing, because they can see that full connection.

You might have someone who reviews the work at the end of the cycle or is in a project planning meeting with them, maybe a manager or a senior leader or something like that, and that's fine and that's a good thing. But you don't need to be in the weeds with your team anymore, and because they're empowered, they can choose how they work best, figure out what makes them most effective, and then they can execute on projects.

I urge you to give this a try. It won't take that long, especially if you've got some of these bigger things already defined, and it can really move the needle on how your marketing team works.

All right, everyone. Hope you've enjoyed this edition of Whiteboard Friday. We'll see you again next week. Take care.

Video transcription by Speechpad.com


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Seth's Blog : "People like us do stuff like this"

 

"People like us do stuff like this"

There is no more powerful tribal marketing connection than this.

More than features, more than benefits, we are driven to become a member in good standing of the tribe. We want to be respected by those we aspire to connect with, we want to know what we ought to do to be part of that circle.

Not the norms of mass, but the norms of our chosen tribe.

       

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