Early Birds: Robert Sandberg was not the first to arrive today. We suspect he is at the hospital awaiting baby #2. That left it to Dick Anderson and Mark Arnold to meet the members as they arrived.
President Mark Arnold brought the meeting to order with a ring of the brass bell.
Guests: Leslie Palmer-Ross of Artforce was brought by Tony Rubin. Tom Donnelly brought his daughter, Katherine. Susanne Bonfe brought Cindy from Bonfe’s Sales and Marketing group.
Honorary Members: Mark Simon, Dick Nelson, Russ Bremner, and Tom Donnelly were all in attendance today.
- The boat cruise is set for next Wednesday with 70+ persons departing on a 3 hour tour of Lake Minnetonka (no stopping at deserted islands) leaving from the Wayzata dock at 5:30 PM.
- Next Wednesday, Breakfast will be at CHS Field in St. Paul hosted by the St. Paul Saints. They just had a dry run for hosting dignitaries by hosting the All-Star Game last week.
- Kudo’s to Susanne Bonfe for the “Tee it Up for the Troops” event last week.
- In two weeks at ECC, Jerry Olson is bringing a guest speaker on Life Credo.
- In three weeks we will have a joint meeting with the Ham ‘n Eggs group and Have Congressman Dean Phillips speak courtesy of Jim Erickson.
- Jim Erickson shared an inspiration from David Brooks how we live our life in tension within a pentagram where the 5 points are Family, Vocation, Friends, Community, and Faith.
- Dave Mitchell had (as he said) his FIRST Hole in one while golfing.
Business Exchange: Tom Donnelly started us off and was followed by Jim Erickson, Dave Mitchell, Chuck Shreffler, John Winston, and Mike Palm
Table Introductions: None today
Pot of Gold: Dick Nelson drew 5 cards and today’s winner was Bob Alexander. A few members need to rethink about registering weekly with the speaker.
Mark Arnold introduced our speaker, Terry Wu, PhD of Neuromarketing Services.
Terry talked about traditional marketing where you focus on facts, logic, and reasoning to persuade some one to buy your product or service. He then pivoted to speak on the role of emotions in the purchasing decision by the customer.
He had some nice examples about how background music affected wine sales and how Coca Cola’s iconic brand was affected when they made “New Coke”.
The point being that you need both traditional and emotional marketing to close the sale. In fact, if you do not have an emotional component, you may not be able to make a decision.
Another topic was the concept of Loss Aversion Bias being stronger than the opportunity to win. His example was flipping a coin where you could win $20 for a heads or lose $20 for a tails.
He also talked about the power of free stuff in marketing. Which of the following seems like the best deal to you.
Price Shipping Revenue
$15 $5 $20
$20 $0 $20
$0 $20 $20
Many people gravitate towards the get-something-for-nothing approach.
For more information you can find his TED talk by searching for Neuromarketing Terry Wu.
Register to Mark Arnold at email@example.com or call 651-295-7619.
August 7 is the Wayzata Boat Cruise
August 7 is St. Paul Saints at CHS Field
August 14 is Life Credo (brought by Jerry Olson) at ECC
August 21 is US Congressman Dean Phillips (brought by Jim Erickson) at ECC