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Engineer Your Social Media Content to Engage Your Customers

Idea posted: September 2019
  • Marketing

A study of Facebook user response to more than 100,000 Facebook posts by companies and organizations reveal that in social media marketing, emotions engage customers, product information increases leads, and adding to the tsunami of holiday messages has no impact whatsoever.

Idea #752
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Eratosthenes Teaching in Alexandria, by Bernardo Strozzi, 1635 (Courtesy: Montreal Museum of Fine Arts)

Algorithms and Statistical Models Vs Human Judgement

Idea posted: July 2017
  • Learning & Behaviour

For businesses frustrated by algorithm aversion — the tendency of people to reject forecasts based on algorithms and statistical models in favour of less dependable human judgement — there is hope: a new study shows that people will choose to use algorithms if they can modify them, even slightly.

Idea #664
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Beware of Over-Optimistic Investors Skewing High-Risk Stock Prices

Idea posted: September 2015
  • Strategy
  • Finance

Investor sentiment has a, sometimes erroneous, effect on stock market valuations. There is evidence that higher risk stocks become overpriced in periods of optimistic sentiment and undervalued when sentiment is pessimistic. Optimism attracts equity investment by unsophisticated, overconfident, retail investors in risky opportunities while such traders are less active in pessimistic periods. Thus sentiment can wrongly influence company share prices, and both investors and CFOs planning financial strategy should be wary.  

Idea #549
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Alexander Graham Bell at the opening of the long-distance line from New York to Chicago, 1892 (Courtesy: Library of Congress)

Incentivizing Older Consumers to Adopt New Technologies

Idea posted: March 2015
  • Marketing

Companies traditionally ignore older consumers when marketing new technologies and innovations. While the non-monetary adoption costs to older consumers are high as previous research suggests, a new mathematical model — that looks at consumers over their entire lifecycle — reveals that monetary costs to older consumers actually decrease with age. 

Idea #502
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Gedränge vor dem Geschäft Thomas Prewein, by Josef Engelhart, 1941 (Source: Wikimedia Commons)

The Surprising Benefit of Long Queues for Customers and Business

Idea posted: October 2014
  • Innovation & Entrepreneurship
  • Marketing

The accepted wisdom is that long lines are bad for business. In fact, they can be very good for business, as long as they are not too long. Research shows that long lines help customers learn what’s worth waiting for, and help businesses attract uninformed customers.

Idea #446
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The Unexpected Impact of Click and Collect Retail Programs

Idea posted: June 2014
  • Strategy
  • Marketing
  • Operations

When retailers started offering the ‘buy-online, pickup-in-store’ option, also known as BOPS, the assumption would be that online sales would increase. New research shows, however, that BOPS actually reduces online sales while increasing offline sales — a surprising but positive result.

Idea #527
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How Competition for Customers Causes Unethical Behaviour

Idea posted: June 2014
  • Strategy
  • CSR & Governance
  • Operations

Do you encourage a culture of competition in your organization in order to motivate your employees? This Idea shows that doing so may also promote corruption and unethical behaviour. In the face of local competition, firms operating in the New York air-pollution testing industry were found to be more likely to behave unethically. Read on to find out the implications of this finding for your organization.

Idea #397
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Seminal Californian rock group The Mothers of Invention, Netherlands, 1968 (Source: Wikimedia Commons)

Mothers of Invention: Companies that ‘Spawn’ New Enterprises

Idea posted: February 2014
  • Innovation & Entrepreneurship
  • Learning & Behaviour

Many companies don’t try very hard to retain innovative employees who want to set up their own enterprises to develop ‘spin-off’ products. At first sight, this might seem like an unwise decision: when the employee leaves, commercial opportunities leave with them, and a new competitor ‘arrives’. There are circumstances, however, when ‘entrepreneurial spawning’ is preferable to exploiting ideas internally. Much depends on the fit between the ‘mother’ organization and the products under development.

Idea #318
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Search Engine Ranking: Consumer Behaviour and Revenue

Idea posted: January 2014
  • Marketing

New research shows that developing product search engine rankings based on best value factors — the logarithm for a hotel site search engine would be calculated not just on price but also on proximity to beach and/or proximity to shopping areas, for example — generates greater revenue than rankings based on one criteria, such as price. The research also explores a number of other issues related to product search rankings, such as how rankings impact click through rates for various classes of products or how consumers react to personalised rankings.

Idea #298
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Dance at Le Moulin de la Galette, Auguste Renoir, 1876, Musée d'Orsay, Paris

Crowdsourcing New Product Ideas Over Time

Idea posted: January 2014
  • Strategy
  • Innovation & Entrepreneurship

Is your organization thinking of using online crowdsourcing applications to collect ideas for new products and services? If yes, it is not the only one; a number of large companies have been turning to crowdsourcing in recent years, including the technology corporation Dell. Read on to find out what an analysis of their application can tell you about how to use crowdsourcing in your own organization.

Idea #296
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YWCA Mobile Club shop visiting an anti-aircraft site somewhere in Britain, 1943 (Source: Wikimedia Commons)

Managing Customer Relations When Demand Exceeds Supply

Idea posted: October 2013
  • Marketing

When demand outpaces inventory suppliers cannot fulfil everyone’s orders. Two academic researchers have developed a quantitative model that suppliers can use to make the right decisions on which orders to fill, and which to delay, while keeping the greatest number of customers happy in the short- and long-term.

Idea #249
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