Invest Like The Best
Episode 191 Moonshots and Marketing
Invest Like The Best

Episode 191: Moonshots and Marketing

Invest Like The Best

Episode 191

Moonshots and Marketing

Rory is the Vice Chairman of Ogilvy & Mather Group. We cover how psychological moonshots can be successful and cheap, improving a company's business by using the magic of marketing, and asking dumb questions to reach intelligent answers.

This episode is brought to you by:

Canalyst. Canalyst is the leading destination for public company data and analysis.If you’re a professional equity investor and haven’t talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick

[00:02:12] – Why spreadsheets and logic kill magic

[00:05:42] – What a product/service is vs how it’s delivered and makes people feel (regular moonshot vs psychological moonshot)

[00:13:22] – Psychological anomalies – doing things faster, better, cheaper (Red Bull vs Coke)

[00:19:54] – Swiss army knife that companies should avoid

[00:22:50] – Don’t design for average

[00:24:39] – How do people approach improving their business through marketing

[00:27:30] – Case for direct mail 

[00:29:22] – Turning your weaknesses into a strength 

[00:34:29] – The seven deadly sins and how useful they are as guideposts

[00:37:38] – Most powerful sin for marketing

[00:39:14] – Reaching intelligent answers from dumb questions

[00:43:25] – Why the opposite of a good idea can sometimes be a good idea

[00:47:30] – Kindest thing anyone has done for him

Moonshots and Marketing

Maps and Miracles

Patrick
So Rory, I really toyed with where to start in this conversation, and I figured a neat place would be this idea that a spreadsheet leaves no room for miracles, and that the problem with logic is that it kills off magic. I'd love you to expand on those two great ideas because in my world of finance, we use a lot of spreadsheets.

Rory
I think that actually goes wider in a way, which is that most people want maps of the world. In fact, we need them because patently, simple human perception and decision making in evolutionary terms, in practical terms, requires that we develop these kinds of schemas because patently, we have to go from data to decision. And the amount of information we have, very large parts of which may be entirely irrelevant by the way, mean that we have to produce this kind of reduced map by which we operate. And I think the problem is that the maps we like to use are always kind of deterministic and they're kind of Newtonian, if you like, whereas reality is neither, it's both probabilistic and it's highly complex.

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