HiPPOs still hand down most decisions in a company – even when surrounded by piles and piles of reports with metrics galore. Marketers still use the “funnel” to imagine and allocate budget, people, actions – even when there is multi-decade data that the funnel is a lie. Company after company misses trends and goes kaput – even after investing in multi-million dollar data projects to build clean rooms, unified consumer view cloud-based business intelligence platforms. ☹️ The core challenge isn’t data scarcity; it is insights latency. Which impacts your ability to follow my advice to deliver IAbI, and not data.…
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There’s a scary Giant hiding in your closet. It imposes hidden costs that, when accounted for, transform your claim that advertising is adding business profits. Short-term, long-term. The scary Giant changes your OMG! to omg? There’s an incredible return from investing time and love in identifying your Giant costs. Ex: Identifying non-working media costs, by calculating them for the core and sub-components. There is only one other thing more important in Advertising (incrementality). [Note:Newsletter Premium Subscribers: If you can’t locate TMAI #437: Compute Non-Working Media Costs and TMAI #411: Proving Marketing’s Incrementality, just hit reply.] This got me thinking about…