In this episode of Talking About Marketing, Steve Davis and David Olney explore a range of topics that highlight the challenges and opportunities faced by small business owners in today's dynamic environment.

The Person segment delves into the current economic instability and its impact on small businesses. Drawing on Edward Chancellor’s book, The Price of Time, they discuss how economic policies designed to create stability often result in prolonged difficulties, and they encourage business owners to persevere despite these challenges.

In the Principles segment, the duo shares insights from Chris Anderson’s book, TED Talks: The Official TED Guide to Public Speaking. They explore the art of crafting impactful presentations, focusing on the importance of a strong core idea, engaging openings and closings, and the value of narrative structure and emotional engagement.

The Problems segment features an amusing yet instructive example of poorly executed automated marketing outreach. Steve and David dissect an email that highlights the importance of genuine engagement and personalised communication, offering valuable lessons for improving marketing practices.

Finally, in the Perspicacity segment, they examine the evolution of dating advertisements and the increasing role of AI in human connections. They discuss the potential downsides of outsourcing personal interactions to AI and emphasise the enduring value of genuine human engagement.

Join Steve and David as they blend practical advice with philosophical reflections, providing tools and perspectives to enhance both your personal and professional life.

Get ready to take notes!

Talking About Marketing podcast episode notes with timecodes

01:20 Person This segment focusses on you, the person, because we believe business is personal.
Navigating Economic Challenges: The Silver Lining for Small Businesses

In the Person segment, Steve Davis and David Olney address the current economic instability affecting households and businesses, with fluctuating interest rates and rising costs creating a challenging environment. Drawing on Edward Chancellor’s book, The Price of Time, David argues that there is a silver lining to these economic storm clouds, albeit a bitter pill to swallow.

Chancellor’s research reveals that efforts to maintain economic stability have paradoxically led to more significant crises. Historically, capitalism thrives on the concept of creative destruction, where failing businesses collapse, allowing more efficient and innovative entities to rise. However, since the early 20th century, policies aimed at stability have led to prolonged economic malaise, preventing necessary market corrections and fostering inefficiency.

David explains how these macroeconomic policies impact small businesses, which often struggle despite their passion and skill. Small business owners frequently express a love for their work and a belief in their ability to provide superior products or services. Yet, they also face constant challenges, teetering on the edge of success and failure. This dichotomy stems from a distorted economic environment that impedes their progress.

Steve reinforces this point with an example from his recent interview on The Adelaide Show podcast with three family-run winemakers - Leadership Drought: A Call To Wine Australia Amid Small And Family Winery Despair. These small wineries face competition from large, mediocre conglomerates that dominate the market with lower prices and inferior products. Consumers, under financial stress, often choose the cheaper options, unaware of the significant difference a few extra dollars can make.

The segment concludes with an acknowledgment that while the economic environment is tough, it’s essential for small business owners to persist. They should not take responsibility for the broader economic issues but continue to innovate and collaborate. The metaphor of Australian flora requiring fire to germinate serves as a reminder that out of destruction can come new growth and opportunities.

09:50 Principles This segment focusses principles you can apply in your business today.
Crafting Impactful TED Talks: The Art of Distilling Ideas

In the Principles segment, Steve Davis and David Olney delve into the art of crafting impactful TED Talks, inspired by Chris Anderson's book, TED Talks: The Official TED Guide to Public Speaking. The discussion begins with their personal experiences and evolving perceptions of TED Talks. While the sheer volume of content may have diluted their initial excitement, both agree that TED Talks reliably deliver valuable insights and inspiration.

Steve underscores the importance of the book, recommending it for its rigorous approach to crafting a compelling 18-minute presentation. The process of distilling ideas into a concise format can elevate one's public speaking skills, even if they never deliver a formal talk. He emphasises the significance of identifying a core idea or "through line" that threads the entire presentation together. This central concept should be clear and reiterated to ensure continuity, which our brains find satisfying.

David highlights the importance of a strong opening to grab attention, suggesting methods such as surprising statements, anecdotes, intriguing questions, or compelling images. Equally crucial is a powerful closing, which can include a call to action, a personal commitment, or a broader implication of the talk’s message.

The segment further explores the narrative structure of a TED Talk, comparing it to a tree with a strong trunk and branching stories. Engaging emotionally is essential, using humour, personal stories, and relatable experiences to make the speaker human and likable. Simplifying content and focusing on a few key points ensures clarity and impact.

Reflecting and revising the talk through rehearsals and honest feedback is a vital step. Steve shares practical advice on delivering the talk to someone outside the business to gauge its effectiveness. David likens this to explaining complex ideas to a taxi driver, ensuring they remain engaged and interested.

The segment concludes with the idea of hosting workshops or "Talk Camps" to help others develop their TED Talks, combining practical exercises with fun elements to foster learning and creativity.

23:40 Problems This segment answers questions we've received from clients or listeners.
The Pitfalls of Automated Marketing: A Lesson in Genuine Engagement

In the Problems segment, Steve Davis and David Olney discuss an amusing yet instructive example from their email inbox that highlights the pitfalls of poorly executed automated marketing outreach. David received an email with the subject line, "Great article about ChatGPT, Marketing Team," which immediately raised suspicions about its authenticity and quality.

The email begins with the generic greeting "Hello, Marketing Team," indicating that it was generated by a bot without any human oversight. The message proceeds with a series of generic compliments and an attempt to suggest a collaboration, all of which are laden with insincerity. The email references an article on their website titled "A Marketer's Christmas Message Written with ChatGPT," but the formatting errors and full URL inclusion further reveal its automated nature.

Steve and David dissect the email, pointing out several missed opportunities where a more thoughtful approach could have garnered their attention. The email's suggestion to add a link to a resource on using ChatGPT for project management was irrelevant to the comedic nature of their original article, underscoring the lack of genuine engagement with the content.

The email concludes with an offer to share their post with over 10,000 followers and provide access to a list of high-response sites, but the lack of initial genuine interaction and relevance renders these offers unconvincing. Steve and David critique the superficial flattery and generic approach, highlighting how such tactics fail to build meaningful connections or trust.

The key takeaway from this segment is the importance of genuine engagement and personalised communication in marketing. Automated outreach can be a tool, but it needs to be executed with care and attention to the recipient's context and content. Steve and David encourage listeners to be critical of similar emails and to strive for more authentic and effective marketing practices.

29:10 Perspicacity This segment is designed to sharpen our thinking by reflecting on a case study from the past.
The Evolution of Dating: AI vs. Human Connection

In the Perspicacity segment, Steve Davis and David Olney delve into the evolution of dating advertisements and the role of artificial intelligence (AI) in modern matchmaking. Steve starts by referencing a candlelit dinner as a metaphor for discussing dating ads and the changes in how people meet and connect over time.

The segment begins with a historical perspective, featuring a commercial from Match.com, one of the first online dating sites. The ad highlights how people, tired of traditional dating methods, sought new ways to meet potential partners online.

Despite the initial excitement, Steve points out the irony that these online activities often replicate the same old social interactions in a different format.

David shares insights on Bumble, a dating app where women initiate conversations, aiming to create healthier dynamics. He introduces Whitney Wolfe Herd, Bumble's founder, who envisions a future where AI acts as a "dating concierge," simplifying the process by pre-selecting potential matches. This concept raises concerns about outsourcing human interaction and losing essential social skills.

David expresses scepticism about relying too heavily on AI for such personal connections. He argues that the human aspects of dating—the challenges, the surprises, the emotional connections—are crucial and irreplaceable. Outsourcing these experiences to AI might result in people being ill-prepared for real-life relationships, as they miss out on the messy but meaningful parts of human interaction.

Steve and David explore the broader implications for small businesses. They suggest that as technology takes over more social interactions, both customers and employees may become less adept at dealing with people. However, they also see an opportunity for businesses that can maintain or reintroduce genuine human interaction, as people will eventually crave authentic connections.

The segment concludes with a humorous nod to a famous scene from When Harry Met Sally, underscoring the unique and irreplaceable nature of real human experiences. Steve and David emphasise the importance of fostering human skills and preparing for a future where these skills will be highly valued and necessary for personal and professional success.