You only need a 93 to get an A.

As a card carrying perfectionist, I tend to have difficulty with closure.  Since I want everything to be perfect I fall into the trap of thinking that I need to keep working in order to produce a result that I can be proud of, even when I have already done a terrific job.

Perhaps it's because when I brought home a 98 on a test, my mother always asked me - what happened to the other two points?

But, time has shown that I am the one who relishes perfection in an imperfect world.

That's where the concept of diminishing returns comes in.  Simply put, in every project you reach a tipping point.  From that point on more work yields fewer rewards.  So, you should wrap things up and move on.  The trick of course recognizing when you have reached that point.  Easier said than done.

But when I began teaching, I realized something significant.  You don't need to be perfect to be excellent.  You only need a 93 to get an A.  ;-)

There are no winners in trade wars.

Persuasion research has clearly shown that the path to successful negotiations starts with getting to know the person you are negotiating with and identifying similarities between you before you begin.

Participants who skipped this step were successful 55% of the time; while participants who took the time to establish common ground before starting negotiations were successful 90% of the time and the outcomes of those negotiations were 18% better.  (Cialdini, 2017)

Because, people prefer to say yes to people they like. And they like people who are similar to them, cooperate with them, and pay them compliments.  Umm.  Are you starting to see the problem with Trump's approach to negotiations?

If you prefer history to research then consider the Smoot-Hawley tariff, which Herbert Hoover signed in 1930.  It led to a 66% decline in world trade, increasing the negative effects of the Great Depression.  (Nino, 2018)

As they say, those who don't study history are doomed to repeat it.

Cialdini, R. & Martin, S. (2017, June 8)  The Science of Persuasion.  Retrieved August 21, 2019, from

https://www.youtube.com/watch?v=kv0sOX6Alrk

Nino, J. (2018, March 11)  Tariffs: A History of Repeated Failure.  American Institute for Economic Research.  Retrieved August 21, 2019, from  https://www.aier.org/article/tariffs-history-repeated-failure

A size zero - really?

I went to do some back-to-school shopping recently and discovered that I am now a size 0.  Isn't that an oxymoron? 

I've seen people on the street who are smaller than I am.  What size are they -1?  Actually the answer is 00.  And that's it.  There are no smaller sizes.  Well I guess that's fair since only 2-3% of store inventory is size 14+ while 68% of American women are.  (George-Parkin, 2018)

Clearly the situation has gotten ridiculous.  But research shows that among people with low appearance self-esteem, smaller size labels evoke more positive self-related mental imagery.  And this in turn leads to more purchases. (Aydinoglu & Krishna, 2012)

Unfortunately, while I can, and usually do take three sizes into the dressing room, I can't do the same thing online.  I was amused to see that some of the online reviews on Speedo's site reflect the fact that they have not adopted vanity sizing.  Therefore I still wear a size 10 bathing suit.  It is also labeled 36.  I guess the reviewer didn't notice that. 

Personally I think actual waist and bust sizes are probably the best way to go.  But if you want to combine them with an arbitrary number that's ok with me.

George-Parkin, H. (2018, June 5) Size, by the Numbers.  racked.com.  Retrieved August 13, 2019, from

https://www.racked.com/2018/6/5/17380662/size-numbers-average-woman-plus-market

Aydinoglu, N. & Krishna, A. (2012, October)  Imagining thin: Why vanity sizing works.  Journal of Consumer Psychology.  Retrieved August 13, 2019, from

https://www.sciencedirect.com/science/article/abs/pii/S1057740811001148

Have you canceled your Soul Cycle membership yet?

Today Stephen Ross is raising millions of dollars to fund Trump's hate mongering.  That doesn't work for me.  Apparently it doesn't work for lots of other people too.  So we are doing the only thing we can do - letting our money speak for us and boycotting all the companies that Stephen Ross is involved with.

In response Ross has said he has been friends with Trump for 40 years.  Not helping.  So then his company - Related Cos. - blocked access online to its list of brands.  How silly.  Here's the list in case you want to join the protest. (Biron, 2019)

https://www.insider.com/trump-tied-stephen-ross-owns-funds-these-companies-brands-2019-8

Since I don't go Miami Dolphins games or spin at Soul Cycle I will contend myself with deleting Hudson Yards from my Instagram.  Because I refuse to fund hate.  It's really that simple

It's disingenuous of Equinox to suggest that since they don't have anything to do with the event they shouldn't be held responsible.  Unfortunately the money that people pay them is going to support the event.  Do they not get that?  Or do they think that we don't?

Edelman's Earned Brand 2018 report revealed that 64% of consumers around the world now buy on belief.  That's an increase of 17% versus the previous year.  Wow.  (2018)

In my last blog, I explained why - the proliferation of similar products has allowed shared values to emerge as a differentiator.

http://pjlehrer.blogspot.com/2019/08/cause-marketing-costs-less-than-good.html

And boycotts do work. 

Last month after eight artists threatened to withdraw from the Whitney Biennial, Warren Kanders - supplier of the tear gas used on migrants at the border protests - stepped down from the board.   (Pogrebin & Harris, 2019)

And, I was delighted to read that fashion designer Prabal Gurung is no longer considering Hudson Yards as a venue for his show. (Fung & Beaton, 2019)

Peaceful protests and boycotts ended the Vietnam War.  Now it's time to use that power to get this country back on the right track.  Stop the hate.  End the violence. 

And, Chrissy Teigen says you can come work out with her. ;-) https://twitter.com/chrissyteigen/status/1159192308077563904

Biron, B. (2019, August 9) 34 companies funded by Stephen Ross, the Equinox and Soul Cycle owner facing controversy due to ties with Trump.  insider.com.  Retrieved August 9, 2019, from

https://www.insider.com/trump-tied-stephen-ross-owns-funds-these-companies-brands-2019-8

(2018, October 2) Earned Brand 2018. edelman.com.  Retrieved August 8, 2019, from https://www.edelman.com/earned-brand

Pogrebin, R. & Harris, E.Warren (2019, July 25)  Kanders Quits Whitney Board After Tear Gas Protests.  nytimes.com.  Retrieved August 9, 2019, from https://www.nytimes.com/2019/07/25/arts/whitney-warren-kanders-resigns.html

Fung, E. & Beaton, A. (2019, August 8) Stephen Ross's Planned Trump Fundraiser Draws Calls For Boycotts.  wsj.com.  Retrieved August 9, 2019, from https://www.wsj.com/articles/stephen-rosss-planned-trump-fundraiser-draws-calls-for-boycotts-11565221093

Cause marketing costs less than good customer service.

A few years back, someone noted the proliferation of similar products and predicted that as the differences between various alternative options shrunk, companies would be forced to compete by providing superior customer service.  Sadly they couldn't have been more wrong.

These days complaint letters go unanswered - unless they are public tweets, customer service reps give conflicting information, and companies don't care about losing customers until they have already gone.  Apparently aided by software they can now predict your "breakpoint" and are determined to push you right to it. (Terlep, 2019)

How foolish can you be?  Any company seeking a long term relationship with their customers should consider the fact that pissing people off is not a good strategy. 

So which is worse -  endless stupid prompts, or reps from foreign countries who barely speak English?  Hard to say.  But both are better than simply being expected to interact with a poorly designed website.  Especially when the companies don't bother to test them to see if they actually function correctly.

But companies have decided that they don't need to worry about customer service because they can get more customers by aligning with customer values.  And they are probably right.

According to Nike, "Two-thirds of their consumers (66 percent) say it's important for brands to take public stands on social and political issues." (Stillman, 2018)

Wow.  That's impressive.  And clearly acting upon that data and partnering with Colin Kaepernick is a winning move for the company as revenue was up +4% (+10% versus year ago) in the last quarter.

But would it work for Verizon Fios?  According to the American Consumer Satisfaction Index, subscription television services, internet service providers, VOD, fixed-line telephone services and Internet social media are the five worst industries for customer service (Terlep, 2019)

But that may not matter, because all decisions are emotional. So if they could align themselves with a cause their customers care about they might be successful.   

But if I were them, I'd worry more about customer service.  When an interaction leaves you feeling ripped off, it's unlikely that you'll continue to be a customer for much longer, and with cord cutting accelerating, replacement customers could be difficult to find. 

On the other hand I will give a free shout out to two companies that I deal with that have made superior customer service part of their DNA - B&H and Bloomingdales.  Kudos to you both.  It's one of the reasons that I have been a loyal customer for over 40 years.

Such a shame the list is so short.  Perhaps we should start outing the companies who don't do right by their customers on social media.  As I noted in this blog, people do pay attention to online reviews.

http://pjlehrer.blogspot.com/2019/07/why-are-you-taking-advice-from-stranger.html

Terlep, S. (2019, August 3)  Everybody Hates Customer Service. This Is Why. wsj.com.  Retrieved August 7, 2019, from https://www.wsj.com/articles/everyone-hates-customer-service-this-is-why-11564804882

Stillman, J. (2018, September 5)  Here's the Data That Proves Nike's Colin Kaepernick Ad Is Seriously Smart Marketing.  inc.com.  Retrieved August 6, 2019, from

https://www.inc.com/jessica-stillman/heres-data-that-proves-nikes-colin-kaepernick-ad-is-seriously-smart-marketing.html

Thomas, L. (2019, June 27)  Nike misses on earnings, but beats on revenues as customers buy more sneakers and sports gear.  cnbc.com.  Retrieved August 6, 2019, from https://www.cnbc.com/2019/06/27/nike-reports-fiscal-4q-2019-earnings.html