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Business Ideas – 3 Business Lessons From David Ogilvy
Today we’re going to look at how a young man who had never written an advertisement in his life started an advertising agency with only $6,000 to his name and went on to become one of the most sought after marketers in the world. This is the story of advertising legend David Ogilvy and the top 3 lessons that you can learn from his success.
“Don’t bunt. Aim out of the ball park. Aim for the company of immortals.” – David Ogilvy
David Ogilvy (June 23, 1911–July 21, 1999) was the founder of Ogilvy & Mather and is known as the “father of advertising.” He took the long road to success working as a hotel chef, a British Intelligence officer, and a traveling salesman selling kitchen stoves door to door. He had success in sales and thought he could help other companies improve their marketing efforts so he started his own advertising agency in 1949. He was 38 years old, had never written an advertisement in his life and only had $6,000 to his name, but he had a big dream and wanted to see it through.
Attracting clients was a challenge in the beginning but he focused on getting results for his clients and he firmly believed that the best way to get new clients was to do outstanding work for his existing clients. The few clients he was able to get loved his approach. They rewarded him with larger budgets and referrals to other potential accounts. After building up his business in New York he decided to merge with the London based agency Mather & Crowther in 1965. It gave his firm an international reach and the next year Ogilvy & Mather was the one of the first advertising agencies to go public.
His company was acquired in 1989 for $864 million after Ogilvy built up a reputation for being “the most sought-after wizard in the advertising industry” according to TIME magazine. He was elected to the U.S. Advertising Hall of Fame in 1977and was inducted into the Junior Achievement U.S. Business Hall of Fame. His legacy continues to leave a mark on everyone in the advertising world and his story provides lessons in marketing that we can all learn from.
Action Item #1: Get Your Clients Results
Action Item #2: Test, Test, Test
Action Item #3: Hire Great People
In his ads, Ogilvy would often make the company logo twice the size — “a good thing to do because most advertisements are deficient in brand identification.” He would also show his client’s faces “because the public is more interested in personalities than in corporations.” Other Ogilvy techniques included studying and imitating graphics used by editors, since “it has been found that the less an advertisement looks like an advertisement, and the more it looks like an editorial, the more readers stop, look and read.” He would place photographs at the top of his ads, given that “people have a habit of scanning downwards,” and also learned that there is little value in saying something without illustrating it because “the viewer immediately forgets it.”
“The most important decision is how to position your product.”
“The psychiatrists say that everybody should have a hobby. The hobby I recommend is advertising.”
“Raise your sights! Blaze new trails!! Compete with the immortals!!!”
The End of Advertising: Thomas Koch
Thomas Koch is 61 years of age and has been in the media business for 41 years. He spent fourteen years as media planner and head of media in ad agencies such as GGK and Ted Bates Worldwide. In 1987, he founded “thomaskochmedia” in Dusseldorf, which eventually became the largest media independent in Germany.
In 2002, Koch merged his agency with Starcom Germany and was appointed CEO of tkmStarcom, then 7th largest media agency of the country. In 2008, he joined the independent media agency Crossmedia as member of the board. Koch then co-founded “Plural Media Services” in Berlin, supporting independent media in emerging markets. Since 2011, Koch consults agencies, advertisers and media houses with his business consultancy “tk-one”.
The leading German business magazine, Capital, described Thomas Koch in 1995 as “most profiled mastermind in German advertising”. At the occasion of the 10th anniversary of the German Media Award in 2008, Koch was announced Media Personality of the Year. In 2011 he received the Signs Award for his engagement in crisis regions.
Today Thomas Koch argues for a change in perspectives on classical advertising. In his talk at TEDxMünster he predicts “the end” of advertising as we know it and illustrates why brands and companies should approach their customers in a more sincere way.
Privatise the profits, and socialize the costs: Wouter van Dieren
Wingham Rowan: A new kind of job market
Plenty of people need jobs with very flexible hours — but it’s difficult for those people to connect with the employers who need them. Wingham Rowan is working on that. He explains how the same technology that powers modern financial markets can help employers book workers for slivers of time.
Wingham Rowan is the founder of social business Slivers-of-Time, which runs online markets for microworking and micro-volunteering.
WHY YOU SHOULD LISTEN TO HIM?
Wingham Rowan is the Project Director of Slivers-of-Time Working, a UK government-funded initiative that uses advanced (but easy to use) trading technology to help individuals who need to work (on their own terms and at times of their choosing) connect with employers who need their labor. Employers expanding their workforce in this new way include local authorities, housing associations, NHS Primary Care Trusts, retailers and caterers.
Rowan is the former producer and presenter of the UK’s longest running television series about the Internet, cyber.cafe, and the presenter of the children’s TV program Rowan’s Report. He’s is the author of two books about the social potential of online markets.
Is Your Business Card a Bore?
In this brief 2 minute video, Creative Communications Strategist Victoria Labalme shares tips for turning a boring business card into a unique and memorable souvenir. From her groundbreaking series, “Stage & Screen Secrets to Transform Your Business”, Victoria shares with you some festive, invaluable insights. Great for sales, entrepreneurs and anyone who’s got an ounce of creativity in their bones…which is YOU. Creativity, innovation, communication, speaker coaching and keynote speaking.
How Many Text Messages Are Sent Each Year?
Dec. 3, 2012 (Bloomberg) — In today’s “Bloomberg Big Number,” Bloomberg’s Betty Liu reports that 8 trillion text messages are sent every year. Today marks the 20th anniversary of text messaging. She speaks on Bloomberg Television‘s “In The Loop.” (Source: Bloomberg)
Marketing Guru David Aaker, “Brand Relevance” – Berkeley – Haas
Marketing guru and Haas Professor Emeritus David Aaker talks about his new book, Brand Relevance, as part of the David Aaker Distinguished Speaker Series. In this event at the University of California, Berkeley’s Haas School of Business, Aaker describes a competitive strategy of developing innovative offerings that make competitors irrelevant.
The University of California Berkeley Haas School of Business is one of the world’s leading producers of new ideas and knowledge in all areas of business – which includes the distinction of having two of its faculty members receive the Nobel Prize in Economics over the past 15 years. The school offers six degree-granting programs. Its mission is to develop innovative business leaders – individuals who redefine how we do business by putting new ideas into action, and who do so responsibly. The school’s distinctive culture is defined by four key principles – question the status quo; confidence without attitude; students always; and, beyond yourself.