Friday Five, early (and lite) edition

Friday — Independence Day in the USA — will find this blogger far from his computer keyboard, celebrating the birth of the nation in the fine American tradition of outdoor grilling and pyrotechnics. That means this week’s Friday Five is delivered a day early and with 40 percent less bloggy goodness. Call it the Thursday Three.

Today’s topic is books. Back when my summers were more leisurely, I would read books (novels mostly) for pleasure. These days, if I don’t see some sort of vocational connection to a book, I rarely read it. Maybe you’re the same way. But that felt need to justify my reads by linking them to work doesn’t mean I can’t enjoy a good book along the way. Here are three recent reads that not only taught me something I didn’t know about PR, communication or some other work-relevant aspect, but also gave me good, if not great, pleasure.

Three books that marketing, PR and/or web types may find worth reading

An Office Power Ballad, by Dan KennedyRock On: An Office Power Ballad, by Dan Kennedy. An amusing memoir of the author’s 18-month tour of duty doing marketing for a big record label while the music business was in free fall. (BTW, it’s not getting any better for the recording industry.) Kennedy, a regular contributor to McSweeney’s, is a clever writer whose book offers insight into what happens when an industry flat-out refuses to accept market realities and continues to push product the way it did two decades earlier. A great review of the book from March describes Kennedy as “a Walter Middy in reverse” who “constantly retreats from an absurd corporate environment — equal parts tyranny, vanity and fecklessness — into neurotic internal-reality checks even funnier than the folly all around him. He attends a meeting about Jewel’s song ‘Intuition,’ which she has licensed to a line of women’s razors, also called Intuition. ‘Anyone in the room who knows the irony of a song about not selling out being used to sell razors,’ Kennedy writes, ‘displays a perfect professional poker face. I, on the other hand, am most likely doing the thing where I stifle disbelief and then start getting paranoid that I totally don’t understand what’s going on and that it’s showing on my face, and then I get paranoid that you can get cancer this way.'” Of the three books on this list, Rock On is probably the most suitable for on-the-beach reading.

Predictably Irrational, by Dan ArielyPredictably Irrational: The Hidden Forces That Shape Our Decisions, by Dan Ariely. The author, a behavioral economist who until very recently served on the MIT faculty (but now, according to his blog, has joined the faculty at Duke), strings together the results from a string of experiments and research projects that confirms we humans are not as rational as we like to think we are. We fall for gimmicks like Amazon’s “free shipping” for orders of over $25 (who else in the room has ordered an unneeded item just to qualify for the “free” shipping?), we order the second-most-expensive item on the menu thinking we’re getting a deal when actually we’re putting more money in the eating establishment’s pockets (the savvy restaurant deliberately includes a high-priced item to induce us to order the profitable runner-up), and we tend to think a more expensive drug will be more effective than a less expensive alternative. Ariely’s engaging book shows that humans act irrationally in predictable ways. It’s a disturbing insight, but also valuable to anyone interested in human behavior — ergo, any marketer.

Super Crunchers, by Ian AyresSuper Crunchers: Why Thinking- by-Numbers Is the New Way to Be Smart, by Ian Ayres. This is a book any data-driven blogger (read: Kyle) ought to love. Ayres, a law professor at Yale, looks at all the many ways number-crunchers are going up against the intuitive experts in a variety of fields — from sports (think Bill James and “moneyball”) to entertainment (dataset analysts are working with movie companies to “script” the next blockbuster) to the rarefied pastime of wine collecting (Ayres begins his book by describing how one statistician, crunching weather data, can out-perform the world’s most sophisticated oenophiles in determining the quality of Bordeaux vintages — long before the wine leaves the casks). Like Predictably Irrational, this book is disturbing, especially if, when it comes to man-vs-machine competitions, you favor the experience and intuitive knowledge of humans to the cold calculations of data. But keep in mind that, for the time being at least, humans are still needed to interpret the data. But after reading Ayres’ book, I’m thinking it wouldn’t hurt those “intuitive experts” among us who have gotten this far relying on our “instincts,” “artistic eye,” “experience” or whatever to brush up on statistics.

So, those are my three. Any good reads to recommend? Discuss in the comments.

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Now playing: Talking Heads – The Book I Read
via FoxyTunes

Give it away, give it away, give it away now*

I’m not the world’s biggest Nine Inch Nails fan. In fact, until last night, I only owned one NIN album, Pretty Hate Machine. And only because, as a indiscriminate musical gourmand I figured out, through reading reviews and listening to samples of various NIN recordings, that Pretty Hate Machine pretty much epitomized the best and worst NIN had to offer. (But for the absolute best of what this band (or at least front man Trent Reznor) has to offer, watch this video of Johnny Cash’s cover of “Hurt.”)

nin-theslip.jpg

But last night I downloaded the new NIN album, The Slip. Not because I’m a big fan, or because I had to have it, but because it was free. As CNet’s news blog reported earlier this week, Nine Inch Nails is offering The Slip exclusively online — for free. On their website, NIN says they’re offering the work “as a thank you to our fans for your continued support.” And presumably those “fans” include curiosity-seekers like me.

So I’m listening to The Slip this morning and thinking about the notion of free.

What is it about this idea of free that draws us in? Dan Ariely, a behavioral economist at MIT, writes about this notion of free — or FREE! as he calls it — in a new book titled Predictably Irrational: The Hidden Forces That Shape Our Decisions (More info at preditablyirrational.com.) “What is it about FREE! that’s so enticing?” he wonders. “Why do we have an irrational urge to jump for a FREE! item, even when it’s not really what we want?”

The answer, Ariely believes, is this:

Most transactions have an upside and a downside, but when something is FREE! we forget the downside. FREE! gives us such an emotional charge that we perceive what is being offered as immensely more valuable than it really is. Why? I think it’s because humans are intrinsically afraid of loss. The real allure of FREE! is tied to this fear. There’s no visible possibility of loss when we choose a FREE! item (it’s free). But suppose we choose the item that’s not free. Uh-oh, now there’s a risk of having made a poor decision — the possibility of a loss. And so, given the choice, we go for what is free.

Would I have purchased The Slip as a physical product — say, as a CD? Not on your life. Or even as a digital album at a reduce price? Not at all likely. There’s too great a chance I might not like it, and I might feel cheated.

But when the product is made available for free, then there’s no risk. What have I got to lose? Other than some time listening to some music I may or may not like. (So far, through nine of the 10 tracks, the album’s decent in a techno/industrial/ambient sort of way. I don’t feel cheated of my time, since it also gave me a topic to blog about.)

The fact that Nine Inch Nails offered me something for free, at seemingly no risk, makes me feel pretty good about Nine Inch Nails. In my mind, these musicians are now somehow altruistic. At this moment, I feel better about NIN, even, than I felt about Radiohead after they let me purchase their In Rainbows at a price I chose.

This exchange between me and NIN seems like nothing but a win for me.

But it’s also a win for NIN. As Kneale Mann points out, this exchange isn’t quite as free as it seems. Like me, Mann downloaded free or discounted music from NIN and Radiohead. He also downloaded a new single from Coldplay. (Not me. Some free stuff just isn’t worth it.) “All three now have my email address. I’m now in the database. If you ask most marketing people, they would say that each participant in a study is worth about $10-15 which is about the price of (say it with me) a CD!”

Still, in my mind, a worthwhile exchange.

So what does this have to do with higher ed marketing? A lot.

Selecting a college is a risky proposition. Will I be happy here? Will I fit in? Can I make the grade? Will a degree from this school help me get a good job?

So is giving money back to your alma mater. How can I be sure the money will be used according to my wishes? What is their investment track record? Should I give my money to some other worthy cause?

Are there any free options, incentives or services we can offer prospective students, prospective donors and others that would help to lessen the perceived risk of investing in higher education?

What about waiving the application fee for a limited time as an incentive to get students to apply early in the admissions process? That’s a form of free, isn’t it?

What about giving alumni a special “third year free” in the alumni association for two years’ worth of annual dues?

What are your thoughts about free?

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Now playing: Nine Inch Nails – Demon Seed
via FoxyTunes

* Apologies to Red Hot Chili Peppers