At the end of each year, I like to play a game. I call it ‘Do I Feel Old Yet?’. The rules are simple: look at a list of the top movies, songs, albums, or news stories from ten years ago. Do they feel like they happened a long time ago? If so, you’re doing well! You’re keeping up, staying current. However, when the top song list starts feeling your favourite Spotify daily mix, and the news stories feel like current events, you know you’re slipping.
First, the hockey stuff. I just can’t help myself; sport is such a great metaphor for marketing, or business in general. It’s competition in its purest form. There’s a reason why game theory is so useful to economists and decision makers. Games are a way to explore and optimize decision making within a predefined framework, constrained by a set of rules. Sounds a lot like running a business, no?
A couple weeks ago, we talked about the importance of knowing what the correct thing to do is, at least as it pertains to marketing. In that post, I touched on the value of data analysis when making decisions. This week, I wanted to do a quick case study of what data-driven decision making might look like, as opposed to purely insight (or guesswork) based decision making.
How’s that for a title? Sometimes, inspiration comes from unexpected sources. Actually, I’d argue it usually does. This article is a great example of that. It all starts with hockey. I’m a subscriber to the Athletic, a premium sports reporting platform that’s made huge strides in the last couple years, poaching talent from all manner
Almost every business is somewhat active on social media. About 80 million businesses maintain a Facebook business page. Over 2 million businesses advertise on Instagram. Millions of businesses use Twitter to provide rapid updates and better care to their customers. But your time, energy, and marketing budgets are limited.
We’re less than two months away from the official legalization of recreational cannabis, but the land rush has already begun. All across Canada, hundreds of startups and currently operating medical suppliers are preparing for or retooling to enter the lucrative recreational market. Come October, each of these businesses will be battling for market dominance.