This shocking map shows exactly how politically isolated hipster enclave Brighton and Hove truly is

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Take a look at this, Brighton and Hove residents. You are living in an island of hipsterdom. No wonder Dave Hepworth calls it England’s Portlandia.

“My wife comes from Hove,” he tells Furthr.  “In the early 70s it was the most conservative place I had ever visited. Now it’s the capital of bien pendant. It’s where Mixmag readers went to have children,” says Dave. Thanks for the map, Dave.

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Sin stocks leap after Tories get in

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Shareholders in the UK’s gambling, tobacco and pub companies are betting that a continuation of Conservative rule will be better for these companies than an alternative government would have been.

Shares in bookmakers have leaped this morning, with Britain’s two largest bookies, William Hill and Ladbrokes, up 5.34 per cent to 394.6p and 9 per cent to 115.2p respectively.

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Wages are growing faster at big companies

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Pay at the bigger companies outpaced compensation at the smaller ones by a cumulative six percentage points between 1996 and 2009. After that, the split grew to 14 percentage points. Goldman Sachs, who published the report, blames post-recession regulation.

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How to network when you are as shy as David Bowie

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Sometimes it seems Silicon Valley can’t shut up about the “Power of Serendipity.”

Unexpected interactions is supposed to be a key to creativity, say the princelings of the tech scene.

Indeed, in a recent study, a quarter of entrepreneurs traced their success to embracing serendipitous encounters.

Which is fine. Unless you are shy. For many of us – myself and David Bowie included –  initiating awkward conversations with people you don’t know can be excruciating.

Here’s some tips to help take away the worst of the pain, while still getting out there and meeting interesting new people.

Be the speaker at events. There’s really no better way to dodge having to don the name badge and sidle up to strangers at the refreshment stand. If you are like me or David Bowie, you’d rather address a crowd of 100 than have to get a conversation going with one or two strangers on your own. If you are the one speaking, they come to you.

Bring a pal. As a father of twin girls, everyday I see the confidence boost provided by knowing one other person at any gathering.  Perhaps your friend can introduce you to people? And maybe you can do likewise for them? But once you get going, don’t use them as a crutch – that defeats the object of the enterprise.

Have a few openers ready. Don’t be too clever, or cheesy, these are just to get the conversation rolling. For instance: What’s the coolest thing you’re working on right now? How do you spend most of your time? How did you hear about the event?

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Look for commonalities. A little light research before the event might reveal the panel moderator went to the same school as you or once worked at the same company.  As a journalist, I learnt early that a gentle question about someone’s hobby or interest can really open them up. The fact that REM’s Michael Stipe is a photography buff or that Neil Young collects model trains really helped me establish a rapport with them fast.

Good luck.

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These three charts show what the Supermarket Wars are doing to food prices

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UK grocer J Sainsbury is expected to post its first annual loss in a decade today.

Like many of the other chains that built up vast estates of out-of-town hypermarkets, only to find more Britons are now doing smaller shops at local convenience-style stores, Sainsbury’s are taking a write down of their property portfolio.

But the figures are also set against a fierce price battle as the more established supermarket groups plough millions of pounds into lowering prices in order to compete with the German discounters Aldi and Lidl, who have won over middle class shoppers to their discount produce.

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Food inflation has fallen dramatically since the beginning of last year.

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That in turn has seen changes in the UK’s benchmark inflation rate, the consumer price index (CPI).

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This is how the market shares of the major grocers have changed in the last decade.

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Try this sniff test to see if your business strategy is DIFFERENT enough to win

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There are really only two business strategies where you can expect success.

You are either cheaper than the competition or you are distinct.

When drawing up a business strategy a lot of folks will give some thought to how their business is distinct to their competitors.

But how do you know if your strategy really is different?

Roger L Martin has developed this clever sniff test.

He says if the opposite of your core strategy looks stupid, then every competitor is going to have more or less the exact same strategy as you. You will not be differentiated in the market and your chances of success will be approaching zero.

Imagine a wealth management company who decided their target market would be wealthly people who were willing to pay for comprehensive wealth management services. They claim they would win by providing excellent customer service across all their services.

What’s the opposite position?  Target poor individuals who don’t want and aren’t willing to pay for comprehensive wealth management services. Then provide them with crappy customer service.

No one in their right mind would offer that, would they? Exactly.

Two of the most popular strategies are service excellence and operational effectiveness.

The problem is that no company will offer the opposite – that would be bonkers –  so it stands to reason by offering it you are not widening customer choice.  And so you are not differentiated.

The best strategies, says Martin, are where your competitors are doing things opposed to what you do — and they make money doing them.

That means that you have made a distinctive choice.

American investment management company Vanguard made a real choice when it said it would not sell managed funds. We know it was a real choice because competitor Fidelity focuses on selling managed funds, and makes enormous sums of money doing that.

Of course, choosing to define service in a way that is different than others define it is also a legitimate strategy.

Four Seasons defines luxury as service that makes up for what you left at home or the office. Its luxury competitors define it as grand architecture and décor and obsequious service. That is a real difference.

When next you mull strategy, ask yourself, Is the opposite stupid ? Have most of my competitors made the same choice as me?

If the answers are “yes,” back to drawing board.

Related stories

Many brands are not distinct from one another – and by using natural language processing we can now prove it

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6 undeniable reasons why Power BI is a good skill to have for any marketer

Everything you need to know about advertising on one annotated slide

About the author

My name is Andy Pemberton. I am an expert in data visualization. I guide global clients such as Lombard Odier, the European Commission and Cisco on the best way to use data visualization and then produce it for them: reports, infographics and motion graphics. If you need your data visualized contact me at andy@furthr.co.uk or call 07963 020 103

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Marketeers! This is What’s Next For Social Media

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Ask most marketers and they will tell you that customer engagement has never been more important.

But real engagement isn’t happening on traditional channels. It’s on digital platforms such as Twitter, LinkedIn, Pinterest, Youtube, Instagram and Snapchat.

What is the future of these channels – and what do they mean to marketers?

Here are six ideas currently gaining traction on a foresight website near you.

1. It’s a conversation which won’t be dominated by brands

The difference between a channel and a platform is that channels are one way pipes, while platforms are two-sided networks.

So while Netflix has an audience and adds content incrementally, Youtube is a community and adds content exponentially.

Marketeers need to understand this.

According to Danielle Tiedt, CMO of Youtube, the goal is not “how do I create a viral video” but “how do I use video to create an ongoing conversation that builds a relationship?”

Historically, marketers have wanted to dominate the conversation, but it is now all about participating. The days of dominating are over.

2. Personalization will get way smarter

There is a ton of content on most platforms. Most of it we don’t need to see.

Platforms do the work of making the experience more personal for us. They will get better at this, filtering out the stuff you don’t need to know about and making sure you can discover new stuff you will like.

Google think a social media platform will be like “ a friend that knows you.”

3. Products and platforms will blur

Uber (a platform) is now offering customers the opportunity to select music for their trip directly from their playlists on Spotify (a product).

Things will travel in the other direction too. Products such as your fridge, will soon pop up on your Facebook page to tell you to buy more milk.

The internet of things will soon be the social network of things.

4. Companies will start to use social media platforms to manage their organizations

Facebook won’t be banned at work, it will be the means by which companies organize business processes such as employee communications, performance management and professional development.

Leaders who want their customers to engage with their brands on platforms must participate themselves.

In a social age, says Harvard Business Review, “you get what you give”.

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5. Frictionless payment via social media

Paying for stuff is changing. Already, with digital wallets, we can download an app, pay our Uber driver or order a Frappuccino without touching our wallet.

Next we can expect even greater integration of e-commerce and social networks.

So while it might now feel odd to make a payment via Facebook, the invisible nature of digital payments is making this new era of social commerce possible – and more popular.

6. Customers won’t want to use more than one platform for any given purpose

How will your connected car integrates with your Twitter feed?

Platforms and providers are going to have to work together to deliver this kind of seamless customer experience.

As digital platforms get smarter and more relevant customers will benefit.

But businesses with traditional mindsets structures and practices will find it increasingly challenging.

Customers are setting the pace, its up to us to keep up with them.

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92% of brands are wasting their time online

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1. E-commerce in 2014 accounted for 6.5 percent of total retail sales.

2. 96% of video viewing is currently done on a television. 4% is done on a web device.

3. In Europe and the US, people would not care if 92% of brands disappeared.

4. The rate of engagement among a brand’s fans with a Facebook post is 7 in 10,000. For Twitter it is 3 in 10,000.

5. Fewer than one person in a thousand clicks on a standard banner ad.

6. Over half the display ads paid for by marketers are unviewable.

7. Less than 1% of retail buying is done on a mobile device. 

8. Only 44% of traffic on the web is human.

9. One bot-net can generate 1 billion fraudulent digital ad impressions a day.

10. Half of all U.S online advertising – $10 billion a year – may be lost to fraud.

Sources:
1.  U.S. Dept of Commerce, Feb 15, 2015
2.  Nielsen Total Audience Report,  4th quarter of 2014 
3.  Havas Media
4. Forrester Research 
5, DoubleClick 
6 The Wall Street Journal
7. US Dept of Commerce and MarketingLand 
8. Incapsula
9. Yahoo
10. Adweek 

I nicked these from the Ad Contrarian by the way.

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LinkedIn just reported its earnings and this is now the stock market reacted

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It’s been the week from hell for social media.

TUESDAY

Twitter shares dropped as much as 26 per cent after it missed revenue expectations and lowered its guidance after warning that user growth was off to a “slow start” and that changes to its advertising formats had reduced click-through rates.

THURSDAY

Yelp closed 23 per cent lower on Thursday after it missed revenue and earnings forecasts for its first quarter, as well as cutting its outlook.

FRIDAY

LinkedIn saw some $7bn wiped from its market capitalisation in after-hours trading, as it warned sales in the current quarter’s revenues would be $45m below Wall Street’s forecasts at $670m-$675m, in part because of currency fluctuations.

 

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