Marketing Adjacent

In this episode of Marketing Adjacent, Mike and Garrio have a short discussion on the topic of country specific top level domains (TLDs) and their impact for marketers. They cover how small countries can generate significant revenue from popular TLDs, risks associated with using certain country TLDs, factors to consider when purchasing domains for your brand, and how domain strategies may evolve in the future.Key Discussion Points:- The country of Anguilla is poised to make $30 million in 2023 from AI TLD registrations due to high demand. (00:01:49)- Some countries like Libya and Syria shutting down internet access or being sanctioned in the past has caused issues for companies using their TLDs. This demonstrates the geopolitical risks associated with certain TLDs. (00:03:39)- Generational differences in domain name expectations - will future customers still prioritize dot com? (00:21:07)- As search evolves (ex: searching TikTok for reviews), how important will domains be for branding & discovery? (00:21:49)- The exercise of weighing the cost vs. benefit of purchasing a premium domain can be useful before actually spending the money. (00:27:58)The Value of Premium Domains and Risks of Country-Specific ExtensionsInvesting in a premium domain name can have long-term benefits for a company, shaping its brand image and market positioning. While there is no technical reason to invest in a specific domain, it can greatly impact a brand's recognition and credibility.However, when considering domain investments, marketers should account for the potential risks associated with country-specific extensions. 

In this episode of Marketing Adjacent, Mike Grinberg and Garrio Harrison discuss the creator economy, decentralized social networking, AI mode, luxury retail brand dupes and fakes, and issues surrounding ESG.The conversation was recorded on May 15.[00:02:29] BuzzFeed Leverages Creators for Content as Creator Economy GrowsBuzzFeed's new residency program will give creators access to its tools and distribution in exchange for cross-promoting content. With the creator economy expected to become a $500 billion industry in a few years, two major aspects to consider are the changes in revenue models and the potential increase in disinformation.The creator economy is changing the unsustainable revenue model that currently exists for news publishers with hiring talent to a more rev share model with creators.[00:09:38] Discussing ActivityPub and its impact on social networkingActivityPub is a set of protocols that aim to make web and social networks interoperable, allowing users to bring their identities, audience and social graph to new platforms. With larger companies like Meta and Automattic working on these protocols, there may be potential for a significant impact on social networking business models.When discussing the concept of decentralized social networks, the notion of affinity becomes central. Affinity refers to the spontaneous liking of someone or something, and can happen on a more one-to-one basis. With decentralized social networks, built-in affinity can be possible at scale as users move from network to network, making it easier for creators to connect with their audience. This idea, combined with businesses seeking more decentralized systems to avoid being beholden to companies like Google, Apple, and Facebook, could drive growth in the decentralized social network space.[00:20:17] Is There An AI Moat? Exploring Ecosystems and Data OwnershipConcerns raised by a Google engineer about open-source potentially overcoming major players in the space. The discussion highlights the need for businesses to stay within established ecosystems like Google Workspace and Microsoft Office, as well as larger players still having an edge in the enterprise space.[00:27:06 - 00:27:33] "Google has all your information from your business from its inception, right. Because you're a Google shop. So if a new employee comes on board, the model can now help them go sort through who's been emailing with this person the most, who's the best person to give me this information and it can look at who owns the docs and point them in the right direction."[00:29:36] Lululemon's Offensive Move to Combat Fake ProductsLululemon combats knockoffs by offering customers an exchange program where they can trade in fake products for the real thing. Other retailers collaborate with fast fashion chains to disincentivize buying knockoffs.It aims to convert knockoff buyers into loyal Lululemon customers in the long term and to influence the influencers in the short term, rather than just defending the brand against knockoffs.[00:39:11] Navigating ESG and Corporate Political TheaterThe hosts discuss how companies often participate in corporate political theater, basing their ad campaigns on highly politicized issues. This may raise questions about whether the approaches are sincere or just virtue signaling to generate attention. They use the recent Bud Light campaign as an example of such marketing tactics.[00:40:56 - 00:41:22] "It's literally corporate political theater. It is individuals within organizations, the leaders usually of said organizations, that are taking it upon themselves to take their political views, no matter whether they're relevant to the business or not, and making it part of the business."There are considerations CEOs and executives should weigh when responding to social and political issues. There are obvious negative effects of making poor judgments, like Budweiser's politically charged commercial, and there is positive impact of appropriately aligning with a brand's identity, like Nike's Kaepernick campaign.[00:43:38 - 00:44:00] "So if you're a leader of an organization and you're backing the and you want to make a statement or you want to weigh in on something, your decision to do that has to be tied to the economic value of the organization for it to be worth the disruption that it's probably going to cause."

What's going on in the world of business and technology? Here are some of the top stories from this week: Fake, AI generated Drake song is taking the world by storm, and stirring up some copyright issues The speed of AI innovation is causing problems for regulators Identity is becoming a hot topic and Clear + LinkedIn have struck a partnership Also on the show this time: Rebrands - are they helpful? Vertically integrated business models for agencies and consultancies This is Marketing Adjacent April 20th

SummaryIn this episode, Mike and Garrio discuss the top current events impacting business, tech, and marketing, addressing issues such as legislation, AI, and banking technology. They also critique recent marketing campaigns by Coca-Cola and Twisted Tea, suggesting that successful campaigns should establish a lasting connection to the brand, rather than just generating momentary buzz. The podcast ends on a positive note, with Mike and Garrio discussing possibilities for renewable energy, advancements in technology, and the younger generation’s potential to make positive changes in the future.HighlightsTikTok ban and technology regulationMeta's layoffs and investment in AI toolsAgile legislation for technological advancementDownstream impacts of technological changeSpeed of decision making in digital eraTwisted Tea and Coca-Cola marketing campaignsGenerational shift in the workplaceTakeaways[00:05:06] Looming TikTok ban sparks debate over tech regulationThe proposed TikTok ban and the Restrict Act that has been proposed to restrict the use of certain technologies and websites has sparked a larger conversation about the regulation of technology. While some believe in more government oversight and regulation, others argue that corporations should be trusted to police themselves when it comes to data and privacy concerns.[00:07:36]-[00:08:31]"I actually don't think you can ban it. I don't think that's the way to go. I think a different form of regulation needs to be in place. And I don't think...allowing corporations to a certain extent police themselves, and if the concern is proprietary IP and data and things like that, let corporations do it rather than banning this at the national firewall level or whatever."[00:10:58] Layoffs at Meta and the Impact of AI on EmploymentMeta's announcement of layoffs and increased efficiency through investment in AI tools has sparked discussions about the rapid pace of technological advancement and its impact on employment. A recent open letter signed by prominent figures called for a slower approach to AI development to better understand its potential consequences.[00:12:24]-[00:13:12]"Literally it's everything. We're going to dive into a topic at a bigger level here. But when we think about what's happening, I think it's this again, the rate of change is the issue and I don't know if anybody saw was it yesterday? I think that open letter came out from a whole bunch of big names saying, hey, can we slow this down?"[00:14:55] Agile Legislation Needed to Mitigate Risks of Rapid ChangeOur current laws and institutions are not equipped to keep up with the rapid rate of change we are experiencing. Agile legislation needs to be put in place to mitigate risks and plan for worst case scenarios.[00:15:08]-[00:15:49]"That framework, I think, needs to get put into place so that we can mitigate some of the risk of all the stuff that's coming at us, because there's not enough worst case scenario red Teaming taking place that people are looking at all the good that it can do, but not enough people are going, okay, but what's the worst case scenario?"[00:16:15] The Downstream Impacts of Rapid Technological Change on JobsThe rate of technological change is accelerating, and the downstream impacts on jobs and other areas are going to be huge. Retraining historically has been poorly executed, and it's not realistic to solve this problem in six months. Additionally, current regulations may not be equipped to handle the potential flood of new drugs and other products created by rapidly advancing technology.[00:18:02]-[00:18:22]"Usually the answer is, well retraining. Well retraining has been really awfully done historically, and that's when things were slower. Who's going to spin up a retraining right now that's going to solve this problem in six months? Is this not even realistic?"[00:19:10] The aftermath of Svb and the rate of change in the banking systemThe aftermath of Svb has highlighted the speed at which decisions are made and coordinated using messaging apps in a digital era, as seen in the first Twitter-fueled bank run. The current banking system was not designed to cope with the technological advances and the unexpected downstream consequences it brings, affecting due diligence and adding to the cognitive load of individuals, businesses and entrepreneurs.[00:20:07]-[00:22:22]"The current banking system was not designed for the two main things that caught my attention during this whole saga....It gets back to what we're talking about, the rate of change that's happening and the technology being used in unexpected ways and our regulatory systems and just the way we think about doing business, not being prepared for the downstream consequences."[00:25:00] Lazy marketing campaigns: Twisted Tea and Coca ColaTwo recent marketing campaigns by Twisted Tea and Coca Cola have been criticized for their lack of strong ties to the brand and business outcomes. The Twisted Tea campaign drew a connection between iced tea and vasectomies, while the Coca Cola campaign used AI to create crowdsourced art. Both campaigns were deemed predictable and lazy.[00:27:08]-[00:29:59]"The twisted tea campaign drew a connection between iced tea and vasectomies. Nobody asked the secondary question of whether this adds economic value to the organization long term. The same goes for Coke, they could have pushed the AI art campaign further than the most obvious solution."[00:33:35] Maximizing ROI Through Longevity of Brand MomentsCreating lasting brand moments can provide a longer shelf life for a brand and maximize return on investment. Ads during major events, like the Super Bowl, can be costly for just one moment, but creating a brand moment during everyday activities, like doing laundry, can result in ongoing returns.[00:35:14]-[00:35:17]"That literally goes directly to the bottom line."[00:35:38] Improving Podcast Transitions and Dad JokesIn this segment, Mike and Garrio discussed their need to improve their podcast's transitions while acknowledging the surplus of dad jokes in their previous recording. While recognizing the need for improvement, they also agreed that they will get better with time.[00:35:38]-[00:36:01]"I got to work on my transitions... That was a lame, not the visual. The visual is fine. I had a different transition plan. We took the conversation in a different direction. I was like, Next segment, please."[00:36:23] The Rapidly Changing White Collar Work LandscapeThe global economy is in a downswing, there's a generational shift happening in both leadership and subject matter roles, remote work is a significant force, and AI is revolutionizing the job landscape - all these four things are causing a significant change in the work landscape.[00:38:11]-[00:38:30]"Remote work is all of a sudden a big thing, I haven't looked at the latest stats, but a large portion of the workforce is working remote, and now companies are trying to force people back to the office."<...

Trailer episode where Mike and Garrio discuss what you can expect from the show, including the three segments: The Rundown - a selection of the top 3 most interesting and impactful topics from the past week. Is It Helpful? - a dissection of a recent marketing/advertising campaign or public business decision. Perspective - Mike and Garrios perspective on a trend they have recently been observing in their work. Mike and Garrio also discuss how the concept for Marketing Adjacent came about.