THE ART OF BUSINESS JARGON

 

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Business jargon – the buzzwords, catchphrasesclichés and mantras of corporate life – manages to be perennially fascinating and endlessly irritating. Many of the better-known expressions have an air of novelty despite being in existence for many years, and survey after survey lists the same serial offenders as the triggers of office rage, headdesking and facepalming. The very latest take on this subject, visualising the metaphors we take for granted, is provided here, courtesy of Citrix ShareFile‘s illustrator David Doran, writer Kevin Hill and by kind permission of Search Laboratory’s Senior Media Specialist Jennie Lindehoff…

 

https://www.sharefile.com/blog/illustrated-business-jargon-by-david-doran/

 

BUY-TO-LEAVE

Another recent buzzword highlights the impacts of commercial innovation upon urban infrastructure and on the lifestyles of both rich and poor in the metropolis…

 

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In 2015 I wrote about the fact that estate agents, journalists and grassroot activists were using the phrase lights-out London to describe the phenomenon whereby parts of the UK capital, especially those super-prime districts in the centre, have been deserted by ‘real’ people and are in the hands of absentee landlords (the government’s term is non-resident landlord, NRL) or absentee owners. There were then around 700,000 empty properties across the UK: in London 75% of buyers of new-builds are foreign, many of whom practise not just the buy-to-let tactics favoured by a generation of small domestic investors, but buy-to-leave. Wealthy non-doms are keeping around 20% of accommodation unused (units referred to colloquially as empties or more formally as vacant assets) in the knowledge that their investment will simply grow in value; other properties are unoccupied for most of the year, meaning that local economies in these areas are suffering a triple whammy. Spiralling house prices prompt private individuals to sell up and move out, at the same time the cost of office space is driving businesses further and further from these prime locations: once thriving shops and restaurants find themselves half-empty.

25% of investors coming from Gulf states to buy property in London planned purely to gain from rising prices without living there, according to the Guardian in 2016, who also reported that a quarter of all those who planned to buy a property in London were targeting capital gains rather than looking for somewhere to live or to let out. Even those buying second or third homes for their own families did not reveal how often or for how long the properties would be occupied.

The Grenfell Tower fire in June 2017 has refocused attention on the issues arising from absentee landlordism and official laxity – or possibly official collusion: many of Kensington and Chelsea Borough’s councillors are themselves landlords and active in the ambivalent regeneration projects which are supposed to provide both public and private housing, but which many see as vehicles for gentrification and, when housing poorer tenants, guilty of poor safety standards. 72 of the Conservative MPs who voted against a parliamentary motion to make homes ‘fit for human habitation’ were landlords; one was the newly appointed Police and Fire Minister, Nick Hurd.

Regulators haven’t been completely inert: the Bank of England’s Prudential Committee intends to crack down from September 2017 on portfolio landlords – those with four or more mortgaged buy-to-let properties – subjecting their businesses to stress tests to ensure that they have income streams and business plans in place.

Global, and local turbulence goes on, however. The company – a consortium of Malaysian investors – redeveloping the huge and iconic Battersea Power Station site on London’s riverside (‘the Everest of real estate’) promised in 2011 to include 636 affordable homes among its final range of ultra high-end housing units. In Summer 2017 it reduced this number to 386, saying the original commitment was based on lower construction costs and a seemingly unstoppable boom in newbuilds which since the Brexit vote has calmed considerably. At the Greenwich Peninsula site on the other side of London Hong Kong-based Knight Dragon have reduced the number of affordable homes from 35 to 21 percent.

 

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At the beginning of August 2017 The Labour Party condemned as ‘simply unacceptable’ the revelation, stemming from the accidental disclosure of council data following the Grenfell Tower fire, that 1652 properties were unoccupied in the London Borough of Kensington and Chelsea.  A Guardian report drew on the same information to publish the names of owners of vacant properties, among them oligarchs, foreign royalty and business speculators. This prompted the Liberal Democrats to demand increased surcharges on long-term empty homes, and London Mayor Sadiq Khan to promise to tackle the issue before the end of the year.

 

You can find more examples of the official jargon used in the field of development and regeneration here (I was particularly struck by one of the listed entries: 

Community Cohesion

There is currently no universally accepted definition of this.’)

http://www.jargon-buster-directory.com/development-regeneration-jargon.php

 

…and the latest from Battersea here, courtesy the Telegraph:

http://www.telegraph.co.uk/business/2017/07/22/inside-battersea-power-station-everest-real-estate-test-case/

 

 

NEURODIVERSITY – and NEUROLEADERSHIP

The jargon and new terminology I collected for my Bizwords column used to highlight exciting trends in marketing and management, often featuring versions of the ‘hero-boss’ or ‘digital leader’. Many more recent buzzwords relate to complex issues affecting social, cultural as well as commercial stakeholders. Here are examples of both tendencies in one short article…

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In the last few years society has, thankfully, come to focus increasingly on the needs of those individuals categorised as neurodiverse. This umbrella term, dating from the 1990s, refers to differences in neurocognitive functioning among humans and encompasses conditions such as dyscalculia, dyspraxia and dyslexia, attention deficit hyperactivity disorders (ADHD), bipolarity and types of autism, including Asperger’s syndrome, extending to take in epileptics, anxiety sufferers and savants. ‘Neurodiversity’ describes both the spectrum of conditions and a philosophical stance (the neurodiversity paradigm) which claims that the ‘normal’ neurocognitive functioning of the neurotypical (NT) is a social, not a scientific construct and that the issues around the so-called neurodivergent, especially the inequalities they may be subject to, should be approached in the same way as gender, ethnicity or cultural issues. The noun has thus become the label for activist movements working for social justice for ND minorities.

The business world, having first adopted inclusion and anti-discrimination strategies to cater for the neurodiverse, has come more recently to appreciate the special benefits of employing individuals whose unusual attributes can help to enhance and transform an organisation. As Charlotte Rogers wrote in Marketing Week in May 2017, ‘From leading new innovations and helping marketers achieve true diversity of thought, to enriching the wider company culture, having a neurodiverse workforce makes strong business sense.’ Harvard Business Review in the same month referred to neurodiversity as ‘a competitive advantage.’

Those working with ND colleagues often make simplistic assumptions, both negative (‘if you are dyslexic you won’t be able to handle complex language’) and positive (‘if you have autism you will probably be highly numerate’) which need to be questioned. ND employees may – or may not – have developed insights, tactics, skills and forms of resilience that are novel, exciting and useful: those on the autistic spectrum can for example be capable of focused attention to detail beyond a ‘normal’ capacity, be hyperarticulate or possess enhanced memory or spatial awareness. Equally they may exhibit behaviour that seems eccentric, they can sometimes struggle to empathise and need ‘buddy’ programmes and mentoring to enable them to integrate socially within a conventional organisational culture.

A related n-word, neuroleadership, marking a ‘top-down’ rather than ‘bottom-up’ tendency in transformative management, began trending nearly a decade ago. At the time it was defined somewhat crudely as ‘managing the mental wellbeing of fellow-workers.’ In a business environment where toxic organisations are said to foster emotional contagion, therapists and counsellors began selling mental fitness programmes, brain-based coaching and highlighting the senior manager’s responsibility to promote mind-based performance. Self-styled futurists began in the early noughties to posit a post-informational neurosociety, and drawing on developments in neuroscience and psychology, the first world NeuroLeadership conference, organised by US thought leaders David Rock (who coined the term) and Al Ringleb, was held in 2007. Participants in this still-fashionable sector (they have claimed ‘the birth of a new business discipline’) refer to the neural challenges facing decision-makers, priorities such as moral cognition, cultural intelligence, and emotional regulation, and are fond of psychobabble like ‘foiling amygdala hijack’ (the amygdala being the brain’s anxiety switch) and ‘reclaiming the fire after the burnout’. Critics also point to the danger that these approaches cross the boundaries between the professional and the private spheres and lend themselves to quasi-scientific quackery.

In debates on neurodiversity and in the marketing of neuroleadership, language plays a crucial role. Not only in defining and encoding new ideas and new practices but in embedding or uncovering, through discourse, the hidden prejudices and the complex power relationships that exist in organisations and in the wider society. ND activists want to ensure that variations in the human genome and resulting differences in the nervous systems of individuals are no longer spoken of as ‘pathological’, no longer defined simply (as they still are) as ‘disorders’. Colloquial expressions like ‘differently wired’ can come to have special resonance, and ‘politically correct’ formulations such as ‘differently abled’ become essential to a more nuanced awareness of the subject.

Autistic UK has more information on neurodiversity, including notes on terminology and definitions:

https://autisticuk.org/neurodiversity/

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BUZZWORDS AND BIZWORDS – 3

Keep abreast of ideas and innovation in the commercial, corporate and digital spheres by tracking the language generated by professionals. Here is another batch of – depending on your stance – picturesque neologisms, amusing buzz-terms, sinister obscurantist jargon… 

 

CREATIVE DIRECT MARKETING

 

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The marketing profession, obsessed as it is with sophisticated digital strategies, has woken up to an uncomfortable truth: significant groups of potential consumers are either hard to target via electronic channels or temperamentally resistant to its tactics. Older children still in the family home (aka fledglings), students living in flat-shares, young couples who have only just moved in together and empty-nest pensioners all represent life-stages and demographics who are susceptible to a radical new way of promoting brand engagement. Creative Direct Marketing or CDM is the fancy label for a strategy more simply defined as putting envelopes through letterboxes. For younger digital natives an old-fashioned letter is an intriguing novelty while a door drop is the best way to reach groups of students who may not show up on official registers, young partners on tight budgets who welcome offer leaflets, coupons and vouchers and nostalgic empty-nesters, for whom the postal service remains the most familiar and trustworthy way to receive information.

 

PRICE ANCHORING

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Sometimes the oldest tricks are the most effective, like the psychological technique familiar to salespeople, but to very few consumers, known as anchoring. The anchor effect (sometimes also known as focalism) works by introducing a striking piece of information (a financial opportunity for instance) or powerful memory (of a previous desire for something or a sense of satisfaction with ownership for example). This then dominates the subject’s subconscious thinking, pushing aside all the other factors that should influence their decision-making, while they are exposed to a real-life opportunity. At its simplest you present potential customers with a much-too-high figure – a spectacularly overpriced car or TV set for instance – then offer them the opportunity to buy at a lower price which may still be more than they could normally afford. ‘Setting the anchor’ (skilled practitioners can gauge its success by checking the purchaser’s body-language) exploits a so-called cognitive bias: humans tend to rely much too much on the first piece of information, or induced state of mind accessed when making subsequent decisions.*

 

INDUSTRY AGNOSTIC

 

Illustration by Rob Donnelly. Click image to expand.

 

Industry-agnostic, meaning associated with no particular branch of business, is term du jour for opportunistic investors who take advantage of perfect storms of economic and internal turbulence to put money into distressed assets; high-profile but vulnerable companies. These people talk about moving from value investing (i.e just- for-profit) to values investing (i.e still-for-profit, but focusing on projects with social aims), but crucially have no personal attachment to whatever branch of business they have selected. Adjectival industry agnostic or sector agnostic typically appears in marketing pitches (‘Industry Agnostic Practices for 360 Degree Business Consulting and Execution Facilitation’) or on the cvs of those – in IT, HR, finance – claiming universally applicable skills. Agnostic itself dates from 1869, then meaning unattached to any particular religious creed, formed from ‘a-‘, not and ‘gnostic’, believer in esoteric knowledge. In the last year or so, though, it has caught on right across the commercial spectrum in its new, broader sense. Cloud computing is said to be location-agnostic, applications are touted as platform agnostic, display agnostic, device agnostic. In just the last couple of days I have come across battery agnostic in the case of an electric car, not to mention vendor agnostic, storage agnostic and silicon agnostic.  A rarer recent synonym, BTW, for this sense of agnostic is atheist.

 

Send your exotic new terms to tony.thorne@kcl.ac.uk

All informants will be gratefully acknowledged in print – unless they prefer anonymity.

 

* Anchoring and other cognitive biases are described in this article from Mental Floss:

http://mentalfloss.com/article/68705/20-cognitive-biases-affect-your-decisions

 

IT’S GETTING DARKER

It’s officially Spring now and we are emerging from the gloom induced by short days and long nights (or, from another perspective, by disruption to circadian rhythms and melatonin levels). The darkness (adjective ‘dark’ is from Old English deorc, used also as a noun from the 13th century) clears – literally – but metaphorical darkness is pervasive…just  after posting the paragraphs below I became aware of dark money, defined by The Observer as ‘an undeclared donation from an impermissible foreign donor’ (see below) and Dark Justice, a group of anti-paedophile vigilantes who pose as children online…

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We have marvelled at the notion of the invisible dark matter said to permeate the universe and physicists have supplemented this with the concept of dark energy; not directly detectable either but necessary to explain expansion and the appearance of life in the multiverse.

On a slightly more mundane level there are in 2017 consultancies advertising their services in uncovering dark data (information collected during business operations but not actually used) and helping organisations to exploit it. The d-word has been trending for some time. The dark web (aka the deep web or darknets), we are nervously aware, is inaccessible by standard searches, a mysterious zone where illicit products and services are traded and illicit vices practised.

Most professionals have heard by now of dark pools, (the image is of hidden areas of liquidity) where off-market trading of stocks, also known in banking jargon as internalisation, takes place, where large blocks of shares can be bought and sold anonymously and prices are only made public after deals are privately concluded. But other kinds of opaque transaction, though quite legal, also threaten to distort markets, masking true levels of market scarcity or surplus and hiding real levels of indebtedness, thus creating information asymmetry between insiders and outsiders. A more recent buzz-term in the fields of finance and commodities is dark inventory (shadow inventory is sometimes used for real estate), describing assets placed off-balance-sheet. These may be equities, contracts, undeclared hoarding – of metals, for example – or other pre-sold commodities which may or may not actually exist (fictitious quotations of steel and nickel are ghost inventory) but which remain beyond public scrutiny. The same term can stretch to include toxic, debt-encumbered or otherwise sinister elements in a portfolio. Dark social, meanwhile- the term was coined in 2012 by former deputy editor of The Atlantic Alexis Madrigal – refers to information exchanged in the workplace by private individuals via channels such as instant messaging programs, messaging apps and email rather than on public platforms like Facebook and Twitter. This so-called outbound sharing alarms the corporate world for two main reasons: it sidesteps company restrictions on the timewasting or subversive use of social media at work, and it so far isn’t possible to track, analyse or turn into marketing opportunities.

Far more disturbing is the notion of a coming digital dark age (not to be confused with the techno music and futuristic/fantasy artworks dubbed dark digital) which some pundits have been predicting. This refers to the potential loss of huge quantities of culturally important data, particularly old manuscripts, memoirs, mementos and images preserved electronically, if technological advances make their storage-formats obsolete so that they are no longer recoverable.

In 2018 overheated enthusiasm for blockchains and bitcoins gave way to fears about the sustainability of cryptocurrencies and the ways in which they could be manipulated. At the same time financial data-reporting on a national scale can be deliberately subverted, or can be skewed by the sheer complexity of the processes involved. One result is the phenomenon of dark GDP: economic activity not captured by current estimations. This is said to amount to 10% of US GDP, and who knows how much in secretive, bot-infested Russia?

Back in the everyday ‘Mr Slang’ Jonathon Green reminds me that from the 1990s dark has also featured in multiethnic youth vernacular in the UK. As with some other key slang terms it can have contrasting meanings, pejorative and appreciative, in this case signifying both ‘harsh’, ‘unfair’, ‘unpleasant’, and ‘impressive’, ‘edgy’.

 

 

*Latest updates: May 17, from George Monbiot, on ‘Dark Money’

https://www.theguardian.com/commentisfree/2017/may/17/dark-money-democracy-billionaires-funding

…and from The Conversation on August 24, ‘Dark DNA’

https://theconversation.com/introducing-dark-dna-the-phenomenon-that-could-change-how-we-think-about-evolution-82867?utm_term=Autofeed&utm_campaign=Echobox&utm_medium=Social&utm_source=Twitter#link_time=1503571067

…and as the skies darken at the outset of Autumn, here’s The Conversation again, this time on ‘Dark Tourism’ 

https://theconversation.com/dark-tourism-can-be-voyeuristic-and-exploitative-or-if-handled-correctly-do-a-world-of-good-81504

 

 

 

BIZWORDS AND BUZZWORDS – 2

Back in the 70s and 80s ‘Val-speak’ or ‘Valley-speak’ used to refer to the modish slang of the well-to-do girls living in and around the San Fernando Valley in Southern California. Now it is more likely to denote the jargon circulating in Northern California’s Silicon Valley and beyond, the language of startups, digital entrepreneurism and tech innovation.  This language has now, characteristically, itself been commodified, packaged and sold by some of its users (see below). In the UK I have also been tracking the new language of technology, digital marketing and finance, and the terms thrown up by so-called hipster culture. Here are three examples…

 

FLAT WHITE

 

We all know that the finance sector is a major driver of UK growth, especially and disproportionally in London, but there’s another sector currently outperforming it, a sector that as yet doesn’t even have a name. Douglas McWilliams of the Centre for Economics and Business Research reported in 2016 that ‘the firms that are driving growth are all those businesses that you can’t easily describe…a mixture of IT, culture and marketing – you can’t define them by any Standard Industrial Code.’ The catchiest catch-all term for this phenomenon is the Flat White Economy, so called because the bicycle-riding hipsters supposed to be coordinating it favour Flat Whites, a coffee style imported from Australia, over Lattes or Cappuccinos. This motley collection of creatives, digital marketers and start-up entrepreneurs, many centred on East London’s Silicon Roundabout hub (based on Old Street and Shoreditch, the third-largest technology startup cluster in the world after San Francisco and New York City) is not uncontroversial, with some commentators doubting its capacity for longer-term growth, others seeing it as part of an overheated, overrated London-centric bubble.

 

ULTRA-URBAN

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The hipsters who have been steadily colonising our inner cities over the last decade haven’t actually given us much new language: too precious for street slang, too cool for corporate jargon, they tend merely to over-use existing terms like ‘craft’, ‘artisan’, ‘vintage’ and ‘pop-up’. Two recent exceptions, however, are the expressions UltraUrban (as it is often spelled) and Epicentral. Both are being used literally to denote central areas (ultra-urban is a technical term from planning and waste–management) like London’s Silicon Roundabout,  Berlin’s Kreuzburg or Budapest’s VII District, but also as adjectives with approving overtones of edginess (if that’s not a contradiction), authenticity and cultural dominance, applied to clothing, galleries, avant-garde music, etc. Should you, however, be allergic to ultra-urban first movers and all they represent, the Yelp website has used word maps to identify hipster hot zones to avoid in a range of cities across the US, Canada and Europe. In related news the Office for National Statistics (ONS) announced in 2017 that non-dairy milk such as soya, rice and oat milk now features on the list it uses to track prices. The list is used to calculate CPIH, the headline measure of inflation. Gin also returns to the product basket after a 13-year absence following a rise in consumption and a growth in the number of ‘artisan’ gin producers. The ONS also said that their list will now include bicycle helmets.

 

LASTING SPACES

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The dynamic – and often precarious and ephemeral – nature of the latest retail operations has been symbolised by the term pop-up. Temporary outlets spring up in unexpected places and disappear, while the urban landscape is potentially blighted by the high-speed turnover of small traders and obsolescent businesses. Now, however, the first signs of an opposing trend have yielded a very different expression. Lasting spaces may refer to newly established green zones, to boutiques, markets and drop-in welfare centres intended to stay put and reinforce permanent communities, also to novel interpretations of living accommodation such as container homes. The notion of lasting spaces forms part of what has been dubbed the local love or love local phenomenon, taking hold in the US, Australia and the UK. As well as simply showcasing local produce and promoting local enterprises, trendspotters see this as an important innovation in consumerism allied to the SoLoMo (‘social-local-mobile’) movement bringing together smartphones, social media and hyperlocal commerce.

 

Promoters and marketers of Silicon-valley language can be found at:

 http://www.siliconvalleyspeak.com/

And here is one of the very few articles to highlight the language of innovation from a UK perspective:

http://www.bbc.com/capital/story/20170313-the-secret-language-you-speak-without-realising-it?ocid=twcptl

BIZWORDS AND BUZZWORDS

For more than twenty years I wrote the Bizwords column for British Airways’ Business Life magazine. The series, which  highlighted examples of the most topical, colourful or outrageous jargon circulating in the corporate world, has just ended, but in its memory here are some of the last items published…

 

REPLICABILITY

What had once been a technical term – for the successful reduplication of test results – or a neutral definition – the ability to recreate a product, service or environment – threatened to become a dirty word in 2016. Replicability came to symbolise second – or perhaps third – thoughts by many progressives concerning the hipster design aesthetic and its global spread. Retro logos, distressed decors, artisan micro-brands and wired-up, gentrified workplaces, copied and imitated across markets and cultures have resulted in what columnist Kyle Chayka dubbed ‘AirSpace’, a faux-authentic, frictionless zone through which an affluent mobile elite can travel (checking for local recommendations from apps like Fourspace or Yelp, then Instagramming their discoveries to friends) without ever really leaving home territory. The replicated style, which, though much-mocked since its inception, once defined a desire for difference and originality, has morphed into a new all-enveloping mainstream.

 

 LEAD-MAGNET

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 Digital Marketing is a non-stop – and seemingly unstoppable – generator of new terminology, so agencies must help novices to keep up by posting glossaries of the latest buzzwords. Turning prospects into leads into actual customers involves, in the jargon, directing traffic to your landing page (ideally frictionless) or welcome gate which is likely to feature a lead-magnet, aka opt-in bribe, a benefit such as a free consultation, free trial, discount offer, or a content-upgrade like a toolkit or guide to induce the visitor to give you their contact details. That is a conversion, the start of a relationship with the site visitor who should then go on to register with you, follow you on social media and/or purchase something. (Measure success by your conversion rate, failure by your bounce-rate). The series of steps you use to draw in the customer, from ads via webpages through interactions all the way to payment is known as the funnel.

 

W.E.I.R.D

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If a colleague tells you that your target demographic is WEIRD, will you know how to react? The letters of the acronym stand for ‘western, educated, industrialised, rich, democratic’ and are used to point up a crucial flaw in the studies of human behaviour underpinning much global marketing. The problem is that the samples on which assumptions are based are not representative: ‘Westerners’ are thought to make up around 96% of respondents in psychological studies, US citizens at least 68%. W.E.I.R.D subjects tend to be outliers, exceptions, in terms of many traits such as visual and spatial perception, notions of fairness, cooperation – even in how to design and respond to survey questionnaires. Differences between so-called traditional or collectivist societies and the individualist west are well-known, but even within a modern multiculture like the US, UK or Australia ‘human’ responses vary according to ethnicities, microcultures and niches. Still searching for universals, analysts now have to grapple with the much more complex reality evoked by their latest buzzword: superdiversity.

 

CLIMATARIAN

A raft of novel foodie expressions reflects the huge impact of the gastronomy economy (not to be confused with economy gastronomy which is one such term meaning luxury cooking on a budget). The progressive connoisseur and the green militant have recently come together in the form of the climatarian, an activist consumer who combats climate change by favouring poultry, pork and sustainable fish instead of CO2 culprits beef, lamb or venison, insists on unfrozen produce from sources close at hand to counter refrigeration and transport emissions and uses 100% of every meal by processing skin, bones, vegetable offcuts, etc. In his lexicon entitled ‘Eatymology’ US author Josh Friedland has collected more examples of the new food-speak, including carrot mob, a so-called reverse boycott whereby crowds of enthusiasts descend on an outlet in order to celebrate its healthy credentials, and – less healthily perhaps – gastrosexual, an individual who uses cooking prowess in order to seduce. In a similar vein militant locavores (promoters of local produce) if male are now known as brocavores, while food porn is flagged by the hashtag #foodspo.

 

I’m always collecting jargon, buzzwords and new and exotic usages like these. Please contact me to donate examples (and you will be credited in upcoming articles and publications!)

 

 

MOMENT MARKETING ….and COMPARISONING

Two more recent buzzwords, to reignite the debate that I delight in: are these ludicrous and redundant formulations, designed to bamboozle and bemuse, or are they valid – even laudable – examples of creative lexical innovation? 

 

MOMENT MARKETING

 Inspired by the 34 minutes in 2013 during which Oreo cookies seized on a power cut at the Super Bowl to tweet ‘…you can still dunk in the dark’, moment marketing, also known as adaptive or reactive marketing, is advertising’s current obsession. The concept stretches from running digital campaigns off the back of real-world events (Paddy Power and Mini cars capitalising on the horse meat scandal, Warburtons bakery on a royal birth) to personalising customer relationships by tracking what consumers are doing at particular times of day – accessing different media, planning journeys or caring for kids for instance – and recording significant dates in their lives. Brands can emphasise authenticity and spontaneity by reacting speedily to trending topics – not just sports but showbiz, politics, weather – cutting to a minimum the time it takes to get from ideation to posting. In the jargon this is described as moving from real-time marketing to right-time marketing, linking offline to online to exploit hype-cycles and micro-moments.

The notion’s topicality is captured in TVTY agency’s new year message for 2017…

“As we have seen in 2016, careful moment planning – the process of deciding which moments matter most to a target audience – can lead to exciting results…we’ve seen the Germans and Italians win gold at the Olympics, the FMCG sector scored big at the Euros and there was a huge surge in ad-jacking during the Super Bowl. But 2017 is set to be even bigger and marketers need to ensure moment planning is a top priority…we have highlighted the events that will capture the attention of millions of consumers across the globe in our new tent pole event calendar.”

 

COMPARISON

‘Before making buying decisions millennials prefer to comparison on digital media’ is an example of ‘nerbing’, the converting of nouns into verbs (conference, signature and caveat are other recent examples), which business jargon delights in. In the same way hero has morphed from familiar noun to trendy verb in the last couple of years, as in ‘we will hero the women who align with our brand values’. Verbs may also become nouns, witness the ask, the build and the recover, while some jargoneers have turned solve into a noun and made solution a verb. Incentive was transformed first into incentivise and later abbreviated to incent. Another twist is to create new plurals, for example ‘practitioners will share practical learnings and advice on how brands can scale their operations across geographies.’ Egregious errors or desperate attempts at novelty depending on your take, these innovations may sometimes signal a subtle shift in meaning, so that comparison as verb refers not to comparing in general but specifically to online sites.

More on ‘nerbing’ from an early piece in Buzz Feed:

https://www.buzzfeed.com/jwherrman/the-verb?utm_term=.spvE8aXO8d#.cdEQYNK7YA

 

TONY THORNE

 

Send buzzwords, jargon and new and exotic usages to tony.thorne@kcl.ac.uk

SHARP NUMBERS AND STATUS SPHERES

 

I’m interested in the extent to which the trendy jargon of business and lifestyle really is transient, as it’s often presumed to be. Many of the buzzwords which I discovered and tried to analyse back in the noughties decade are no longer current. Some of them never managed to escape the rarefied circles in which they were invented and briefly exchanged. Others, however, still resonate  – and still, remarkably, are seen as innovative and novel. Here are two examples of what I mean: can you decide in which years the following words were written?

 

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SHARP NUMBERS

I’m almost certainly in the top category – a so-called high skeptic – on Obermiller and Spangenburg’s grading of consumers’ resistance to advertising claims. I’m endlessly irritated for instance at prices that end in 95p or 99p rather than go the whole hog. This tactic is crude and familiar, but other forms of number manipulation and the quasi-technical terms describing them increasingly crop up in commercial conversation.

Theorists of customer behaviour and information load describe my bugbear as the (positive) nine-ending effect, closely related to the (negative) left digit effect – if increasing the price causes the leftmost digit to change, the sale may well be lost. In analysing consumer inference and the processing of brand information the experts cite a numerical superiority effect. This simply means that claims expressed in numbers (‘78.6% effective’) appear to be objective  – based on empirical data – while claims expressed in words (‘finished to the highest technical standards’) tend to be judged as subjective. The same distinction operates between round figures or round numbers, often suspected of being approximations or guesstimates, and sharp numbers, assumed to demonstrate verifiability. This quirk of human psychology the experts describe as precision heuristics. Round numbers incidentally don’t always have to end in zero: given our system based on tens, fives are also salient (i.e more memorable and processed more readily).

Mathematician Stanislas Dehaene highlighted these and other psychological features of number-perception a decade ago, (and Proctor and Gamble’s claim that their Ivory soap was ‘99 and 44/100 per cent pure’ is a century old), but only recently have they begun to cross over into public awareness. The housing market in particular has woken up to a related phenomenon, that buyers have an innate tendency to treat sharp numbers as lower than round ones. They may for example unconsciously perceive £725,000 as higher than £725,647. Sharp numbers play a key role, too, in the pique technique, also known as mindful persuasion, whereby a request is made in an unusual way to pique the subject’s interest, usually illustrated by the simple example of a beggar asking for 97p instead of a pound. Such requests have been shown to have a potential 60% success-rate as opposed to 10% for round figures.

In US financial journalism, by the way, the phrase sharp numbers has another, predictable, sense: it means the numbers that hurt.

 

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STATUS SPHERES

According to research by Standard Life Bank two out of three Brits in their 30s and 40s are now suffering from status anxiety about their homes, prompting TV consumer psychologist Benjamin Fry to attempt a more detailed diagnosis. They are apparently experiencing improvenza, which sounds like another affliction, but is touted not as the disease but the potential cure, involving as it does reconfiguring the work-life balance and, as often as not, renovating rather than moving. The notion of status anxiety as a defining modern malaise has been around for some time, but was popularised by UK philosopher Alain de Botton in his 2004 book of the same name. US trendspotter Faith Popcorn has since argued that it is moral status anxiety which increasingly defines our attitudes. She and others have been predicting the end of conspicuous consumption, to be replaced by conspicuous austerity (slogan: ‘less is the new more’), thrifting (opting for low-cost, low-profile living) or conscientious consumption, whereby our individual standing is defined by how far we manage to combine spending and leisure pursuits with self-improvement and charitable works.

Amsterdam-based Trendwatching.com, who also single out status as the key driver of new consumer behaviours, this year upped the stakes by coining the expression status despair to describe the awful realisation, for example, that a fellow oligarch has a more sumptuously fitted-out private jet than you. Journalists have identified other manifestations of this new angst, ranging from yacht-envy to bag-envy. The latter, according to media strategist Tracy Hofman, can be countered by what she calls status flair, ‘the thrill that resonates when you realise that the quilted Chanel handbag you acquired in 1990 is now back in fashion!’

Trendwatching claim that, in an experience economy, hierarchies based purely on spending power are outdated, supplanted by so-called status-spheres; different areas of activity such as ‘participation’, ‘giving’, ‘experiencing’ from which individuals derive self-validation and peer-recognition. In the same way those physical status symbols – visible, tangible purchases for display – are giving way to status stories, told not by manufacturers but by consumers bragging to other consumers, presumably by word-of-mouth and by way of blogging and viralling, about their personalised adventure holidays, their web-presence, not-for-profit investments, eco-credentials, etc.