233: New Brand Business Models with Erich Joachimsthaler

On this 233rd episode of "Marketing Today," host Alan Hart interviews Erich Joachimsthaler, founder and CEO of Vivaldi Group. Joachimsthaler's company works to keep its clients ahead of the continually evolving marketing game by remaining innovative at the intersection of purpose and profit.Originally from Germany, Joachimsthaler shares how academia brought him to Kansas of all places, and eventually landed him in New York, where he lives today. He looked at the option of going straight into the workforce after school in Germany but decided that "success in life is to minimize the time between graduation and retirement." We then discuss how the marketing landscape has changed over the last 10 to 20 years. "The value shifts now the demand side where the consumers are," and can no longer be providing better service alone.Joachimsthaler then discusses the concept of his new book, The Interaction Field, and how "when everybody participates in an interaction field...everybody benefits." We found ourselves in agreement that "value is creation" and how the road to success involves many helping hands along the way. Nobody does it alone. Amid a global pandemic, collaboration amongst industry leaders is needed now more than ever!Highlights from this week's "Marketing Today": After graduation, Erich made his way to the US to further his education and experience the world. 1:20Erich chose Kansas because of his desire to expand upon his small amount of English language. 2:00After being a professor for 15-20 years, Erich decided to make his way to New York, thus leaving academics. 2:55Vivaldi Group works towards helping new companies grow through innovation in new directions. 4:06Erich felt there were new ways of creating values for other companies, and that belief led him to write his new book. 5:37Brand marketing recently shifted from the supply side to the demand side, now focusing on the consumers. 6:20Everyone in the world lives in an interaction field through network technology in a specific ecosystem. 7:11Value is no longer created solely on better service but heavily focuses on the demand side in companies such as Uber. 9:00It's no longer about how much money a company pumps into advertising. 10:10Around 2008, people began to realize that technologies that come together tend to mature at the same time. 10:42There are ways to be successful other than creating a platform by finding the right ecosystem, but innovation must remain successful. 12:35Many business models exist today that have proven successful, but these models evolve. 14:30McDonald's has evolved its business model from a pipeline model to a platform model because it can directly interact with consumers on their phones. 16:00Companies can collect data points through customer interaction on their platforms to increase productivity and profit. 18:56Interaction fields create value by sharing collected data with every participant in particular industries. 20:44Leaders today must collaborate to benefit everyone and solve significant industry problems. 22:45Erich found that motivation came from different sources between Germany and his time in the United States. 26:05It's vitally important to put love where your labor is; you will enjoy what you are doing for the rest of your life. 28:00 Become a member today and listen ad-free, visit https://plus.acast.com/s/marketingtoday. Hosted on Acast. See acast.com/privacy for more information.