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What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
What Do I Know About Failure? - Jules Epstein, Primary Design
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What Do I Know About Failure? - Jules Epstein, Primary Design

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Jules Epstein, President and CEO of Primary Design presents to the AIM Conference 2010 in Huntington Beach, CA.

Jules Epstein, President and CEO of Primary Design presents to the AIM Conference 2010 in Huntington Beach, CA.

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  1. AIM 2010 <ul><li>What Do I Know About Failure? </li></ul><ul><li>Jules D. Epstein </li></ul><ul><li>President and CEO </li></ul><ul><li>Primary Design, Inc. </li></ul>
  2. <ul><li>56 year old Jewish guy from Philadelphia who ignored family’s advice to become a doctor or a lawyer. Instead, insisted on a life in real estate marketing. </li></ul><ul><li>Bought my first 200 year old house at 26 and restored it singlehandedly over 10 years. Made my first $100,000. During the same period, my good friend, Steve, bought and flipped 5 homes without touching them. He made his first $Million. </li></ul>My Credentials
  3. <ul><li>Owned a 50% stake in a vacation home that I sold to my real estate partner for $375K to save my business in the recession of 1989. He held onto it and recently sold it for $3.25M. </li></ul><ul><li>Advised several friends to sell their Apple stock when it “topped out” at $80. I haven’t heard the end of this one. </li></ul>My Credentials
  4. <ul><li>A relative term </li></ul><ul><li>Without an occasional failure we would not know success </li></ul>What is Failure?
  5. <ul><li>With the exception of consultants who are always right, absolutely </li></ul><ul><li>As marketers we cannot help but fail on occasion because we “test” new ideas </li></ul><ul><li>And again, failure is relative. It’s inevitable when you have a great run of successes </li></ul>Is it OK to Fail?
  6. <ul><li>Failures fall into one of two buckets: </li></ul><ul><ul><li>Bad Ideas </li></ul></ul><ul><ul><li>Bad Execution </li></ul></ul>Analyzing Marketing Failures
  7. <ul><li>A Bad or Uninspired Idea with a great execution can be a resounding success. </li></ul><ul><li>Take for example… </li></ul><ul><ul><li>Lady Gaga </li></ul></ul><ul><ul><li>Subprime Loans </li></ul></ul>Analyzing Marketing Failures
  8. <ul><li>Or on the other hand, a great idea executed poorly can be a total failure. </li></ul><ul><li>Take for example… </li></ul><ul><ul><li>A Well-Done Filet Mignon </li></ul></ul><ul><ul><li>Insurance (any) </li></ul></ul>Analyzing Marketing Failures
  9. <ul><li>New Coke </li></ul>Bad Idea or Bad Execution?
  10. <ul><li>DeLorean </li></ul>Bad Idea or Bad Execution?
  11. <ul><li>Tropicana Packaging </li></ul>Bad Idea or Bad Execution?
  12. <ul><li>Windows Vista </li></ul>Bad Idea or Bad Execution?
  13. <ul><li>The Sawmer </li></ul>Bad Idea or Bad Execution?
  14. <ul><li>Refrigerator Pet Door </li></ul>Bad Idea or Bad Execution?
  15. <ul><li>Coffee and Doughnut in One </li></ul>Bad Idea or Bad Execution?
  16. <ul><li>We don’t </li></ul>How Do We Avoid Failure?
  17. <ul><li>Stick to what you know </li></ul><ul><ul><li>Utilize media sources and ideas that have a proven track record </li></ul></ul><ul><ul><li>Do not force ideas. Usually if it doesn’t feel right, it isn’t right </li></ul></ul>Minimizing Failure
  18. <ul><li>Avoid being the guinea pig </li></ul><ul><ul><li>Never stick your neck out too far. And if you do, only do so if you are willing to lose all </li></ul></ul><ul><ul><li>Maybe it’s better to be Burger King and let McDonalds spend the marketing dollars </li></ul></ul><ul><ul><li>Be cautious buying untested media. Let someone else be the guinea pig. You can always go in the next edition </li></ul></ul>Minimizing Failure
  19. <ul><li>Do your homework, ask questions </li></ul><ul><ul><li>Has your competitor already tried this approach and failed? </li></ul></ul><ul><ul><li>Is this executable and financially viable? </li></ul></ul><ul><ul><li>Why hasn’t anyone done this before? </li></ul></ul>Minimizing Failure
  20. <ul><li>Track your results </li></ul><ul><ul><li>Use unique call-in numbers and URLS </li></ul></ul><ul><ul><li>Use all analytic tools at your disposal </li></ul></ul><ul><ul><li>Talk to your customers </li></ul></ul>Minimizing Failure
  21. <ul><li>Nip it in the bud </li></ul><ul><ul><li>Keep on top of your results </li></ul></ul><ul><ul><li>Swallow your pride </li></ul></ul><ul><ul><li>If you are not getting the results you expected, cut your losses. Remember the Apple Newton? </li></ul></ul>Minimizing Failure
  22. <ul><li>If you get stuck with a bad or old idea, find a way to make it work </li></ul><ul><ul><li>Most ideas are mediocre at best anyhow </li></ul></ul><ul><ul><li>Think out of the box and take a fresh approach </li></ul></ul>Minimizing Failure
  23. <ul><li>If you have a good idea, don’t screw up the execution </li></ul><ul><ul><li>Be sure it’s properly funded </li></ul></ul><ul><ul><li>Be confident that its launch is timed properly </li></ul></ul><ul><ul><li>Make sure it is appropriately positioned to your market </li></ul></ul>Minimizing Failure
  24. <ul><li>Cover your bases </li></ul><ul><ul><li>It takes a “cocktail” of “drivers” to get your market where you want it to be… at your door </li></ul></ul><ul><ul><li>Resist putting all your eggs in a single media basket. These days, the media or website du jour is likely to be the failed media or website of tomorrow </li></ul></ul>Minimizing Failure
  25. In Summary Never forget the immortal words of NASA’s Apollo 13 Flight Director, Gene Kranz (or was it Ron Howard?) when he declared…
  26. FAILURE IS NOT AN OPTION!
  27. <ul><li>Thank you and may all </li></ul><ul><li>your failures be small! </li></ul>

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