Monday Inspiration (October 2023): Zero-sum thinking, MarTech trends, the business of creativity and a knockout technique for happiness

At the end of September, revised data from the Office of National Statistics (ONS) showed that Britain’s economic performance since 2019 had been stronger than previously thought. This is good news and it reminded me of the concept of ‘zero-sum thinking’.

A zero-sum game is one in which someone’s gain is equivalent to another's loss, for example dividing a cake. If you get a bigger slice, mine will be smaller. However, economic growth is an example of a non-zero sum game. Instead of success coming at the expense of others, economic growth done right means we grow the cake and everyone prospers.?

But research from a group of Harvard economists indicates that in the US zero-sum thinking is higher in younger age groups. This means they believe that gains for some come at others' expense - between countries, racial groups, immigrants vs. non-immigrants and income group:

A zero-thinking mindset or bias can be problematic because it can lead to decreased cooperation, increased conflict and cloud our ability to make objective assessments of information. From a marketing perspective it reminds me of, among others, the ongoing debates around differentiation versus distinctiveness and brand building versus performance marketing.?

The truth is that there is often room for multiple approaches that can work well together. But if we adopt a zero-sum mindset and assume it’s always one way or the other, we will lose out on opportunities to learn from another and find new ways of working.

The evolving MarTech landscape | The Chartered Institute of Marketing

In August I presented an exclusive webinar from the CIM | The Chartered Institute of Marketing about MarTech and the trends we should be keeping an eye on in the next 12 months. Although the webinar is behind a paywall, I’ve linked to the video below and you can read some of the follow-up questions from the CIM blog in September:

I really enjoyed working on the webinar and deep-diving into the world of MarTech. I owe the brilliant Scott Brinker a huge debt of gratitude for all the excellent research and insights he has shared in the recent months and years that I stole borrowed for the presentation!

The Business of Creativity with Sir John Hegarty | The Uncensored CMO

Jon Evans and the Uncensored CMO podcast continues to deliver great marketing guests, discussion and insights. It really is a treasure-trove of great marketing thinking and I learn something new from every episode.?

In September Jon interviewed Sir John Hegarty , one third of the agency Bartle Bogle Hegarty and an advertising legend. It was refreshing to hear a creative’s take on marketing and Sir John’s appeal to develop better creative briefs and foster more productive relationships between agencies and clients.

A knockout technique for achieving more happiness | The Atlantic?

To have an ambitious goal in life is a good thing. It provides structure and meaning and leads to higher satisfaction - assuming you can make progress toward your goal!

However, the “arrival fallacy” means that this is not always the case. For many people there is an emotional drop after they hit a goal or reach a destination. Like a drug, the only way to reach that feeling of achievement again is to aspire to an even greater challenge. But what happens when we run out of road?

In this excellent article from Dr. Arthur Brooks in The Atlantic , it turns out that research shows that people who concentrate on intrinsic professional goals are significantly more satisfied with their jobs than those with extrinsic goals. In other words, people who have an ambition to foster deeper friendships, a better marriage and closer connections with their children and their parents tend to be happier than people working for worldly rewards.

“Having goals in life is human and healthy. To provide direction and purpose, a journey requires a destination. But the journey, not the destination, is what gives us the satisfaction and meaning we truly need”