Brilliant Reads: building a buzz, effective Facebook video and how many experts is too many?

Welcome to Brilliant Reads. This week we’re discussing how to avoid the pitfalls of digital transformation, how marketing turned an auction on its head and Facebook’s most effective video content.

Too many experts spoil the broth

Any innovation project needs experts (for example doctors know what products medical professionals need) but this needs to be kept in balance in the overall team. With too many experts on your team you can actually end up with a lack of innovation and an over-reliance on old ideas. Experts are invested in their field and often lack the ability to envisage new concepts.

Alongside this is the business side of things. It’s all well and good refining and perfecting a product or service but you have to know how to sell it. It comes down to ensuring the right roles are filled with the right people – a balance of experts, innovators and entrepreneurs. A diverse team will ensure that your product performs well and stands out in the market.

Too many experts can hurt your innovation projects
Harvard Business Review, 5 mins

How video is dominating Facebook

BuzzSumo have analysed 100 million Facebook videos over the last year, and identified how brands can make their video content even more effective. Video is the most engaging content format on the platform – the average video post reaches 12.05% of total page audience, compared to status updates that reach an average of 4.56%.

So what makes good video content? The most effective posts were short, with an average length of 115 seconds. Don’t linger on the text intro, the most successful posts go straight to the video content. Remember that people like to share content that they think is valuable or entertaining (as opposed to just liking a status).

Facebook video engagement: what we learned from analyzing 100 million videos
BuzzSumo, 6 mins

Brands, influencers and surviving the next decade

Brands are encountering new challenges with increasing frequency. The rise of influencer marketing is just one of them. If your organisation can adapt and move fast when it needs to you’ll at least be in with a chance of outliving the decade.

In this post Antony looks at what the approach to influencer marketing says about your organisation’s ability to outlive the current era of mistrust and complexity. The key to developing the necessary capability isn’t hiring an internal agency or even just building a new team. It’s about designing a marketing organisation that can adapt and move fast when it needs to. Capability starts with the mindset of the leaders. Then strategy. Then skills. Then execution.

Brands, influencers and surviving the next decade
Brilliant Noise, 4 mins

Avoiding the pitfalls of digital transformation

Digital transformation is inherently challenging. Arming yourself with a clear understanding of what matters to a successful change programme and the traps that many fall into can make all the difference.

McKinsey have identified the ten things to look out for:
1. Excessive caution: be bold, take risks – but always rely on the data.
2. Fear of the unknown: define what digital transformation really means for your organisation.
3. Lack of focus: find the right initiatives and don’t lose sight of them.
4. Running out of money: aim for quick wins to support the transformation.
5. Lack of talent: identify the skills you need and pinpoint these people.
6. Lack of discipline: ensure efforts are always channeled towards targets.
7. Failure to learn: don’t be afraid to take risks and reward experimentation.
8. Change fatigue: keep things simple with frequent milestones creating continuity.
9. Going it alone: understand the capabilities you have and the ones that you need.
10. Going too slowly: speed must be a way of life in order to react to market changes.

A CEO guide for avoiding the ten traps that derail digital transformations
Mckinsey, 12 mins

Breaking auction records with audience marketing

Leonardo Da Vinci’s Salvator Mundi has become the most expensive painting ever sold. It made $450million at auction by Christie’s, shattering the previous record by $150 million. Yet the last time it was sold, just four years ago, it went for $80million. What changed? Its quality was not reevaluated, no more evidence came out solidifying it as a Da Vinci. The only change came in the way it was marketed.

By making it a public auction and touring the painting worldwide, Christie’s built enormous hype around the artwork – resulting in over 27,000 people queuing to see it. How does this buzz help when only a tiny fraction of the audience can actually afford it?

The buyers felt like they were bidding on an iconic piece of cultural history. The cultural buzz around the painting enhanced the worth of the artwork, all bolstered by the huge audience. Addressing your target audience is essential, but wider brand and product recognition is also important.

Secret of record $450m Da Vinci sale: reach the audience beyond the audience
Campaign, 5 mins