Making assumptions and marketing, part 2
A couple of weeks ago I talked about marketing assumptions or, in the vernacular, "drinking the Kool-aid." It's been rolling around in my head and I thougt I'd take it a little further, especially since this is this week's lesson for my tribe. The lack of accurate data is the source of failure for most companies and social media programs. The good news is adopting effective social media practices solves the bad data problem for both. Most companies begin with some good data that assumptions are based upon and direction is decided. What causes failure is when ll future assumptions are based on the original data and subsequent anecdotal evidence that validates the original assumption. That's a recipe for failure or, in the least, a continually contracting market. It used to be that companies would invest in some level for real market data, but falling revenues at all analysis firms shows that time has come to an end. For ...