September 4, 2015 · 8:45 am

Meatheads

It’s the last Foodie Friday of Summer.  Well, officially, at least.  Most of us will be grilling in the warmth for at least another month and then we’ll move the party indoors.  I don’t know what you’re grilling this weekend, but here at Rancho Deluxe some sort of meat will be involved.  While we have vegans and vegetarians in our household, some of us are unabashedly carnivorous.  I thought this might be a good time to put forth a few of the absolute truisms we all know about cooking meat.  There’s a business point too.

Beef and Corn on a Charcoal BBQ grill

(Photo credit: Wikipedia)

Let me just list a bunch.  These come from the website amazingribs.com which is focused on all meats, not just ribs and is well worth a few moments of your time:

Searing seals in juices. Pink pork is undercooked. If there is red in chicken it is undercooked. If you’re lookin’ you ain’t cookin’. Cooking time depends on the weight of the meat. The bone adds flavor. Oil the grates before putting food on them. Flip burgers only once. The Stall (note: – this is a BBQ term and is the point at which cooking seems to stop for a while) is collagen melting. High heat is the best heat. Whole chicken tastes better than chicken cut into parts. Beer can chicken is the best chicken. Melting fat penetrates the meat. Grilling causes cancer. Grill marks are important. Medium and medium rare are the same thing. Stainless steel grills are better. Cast iron grates are the best. You can rely on your grill’s built in thermometer. Ground beef is the riskiest food for pathogens. Barbecue sauce is always red. Marinades add a lot of moisture to meat.

I’m sure you’ve heard or said one of more of the above.  Here is the thing – none of them are true.  I know – it’s like I just told you the Easter Bunny is made up.  Sorry, but just because you believe it to be true doesn’t make it so.  When food scientists looked into these “truths” and others, they found the facts to be something quite different.  Which is the business point, of course.

We hear “truth” all the time in business.  I wonder how often we actually take the time to look into whether we’re just subscribing to a shared myth.  I think it’s incumbent on each of us to do so.  My guess is that we’ll find, more often than not, that the truth isn’t exactly as it’s been presented.  A word of caution.  You can expect people to react badly when you give them proof that their facts and THE facts aren’t the same.  Be judicious and tactful or do so wearing running shoes.

Enjoy the weekend and use a digital thermometer.  You really can’t tell how done something is my touch, you know…

 

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September 3, 2015 · 10:37 am

Programming Surprises

I come from the world of advertising sales. Strike that: I come from a world that no longer exists even though there is one with the same name still out there. It’s called advertising or media sales except there isn’t a heck of a lot of selling going on – just a lot of buying.

I dislike programmatic buying for a number of reasons, but the one I’m going to discuss today has implications for your business, even if your business isn’t media. Your brand may be using programmatic to purchase ads. Certainly digital ads and, soon if not now, TV, print, and even outdoor. I completely understand the efficiencies of this system and from the buy side the system is great. From the publisher or content distributor side, it has had the effect generally of pushing pricing down. Zero-sum games do that. However, that’s not today’s beef.

In a word – transparency, or lack thereof, is my issue. Many brands have no clue where their ads are served nor do they know for certain which creative is being used vs. which targets. They don’t really know how fees are being taken along the way and they’re not really sure what their budget is getting them in terms of placement. In short, the last thing you want as a marketer – or any businessperson – is a surprise, and this system has the potential to deliver many of them, most of which are bad.

If you think you can mitigate the surprise issue with a Service Level Agreement, think again. Most of those contain a cure period. Even if there is an hour during which your ads run on an unapproved site, the damage is done. Surprise!

When the bills come in and you find out that your $250,000 budget bought you $175,000 of inventory due to fees, causing your effective CPM‘s to rise significantly, surprise!

Ad spending in the US for programmatic TV will rise to nearly $4 billion in 2016 according to some estimates.  That kind of honey attracts a lot of flies, and I suspect we’ll see an even more fractured technical landscape supporting this buying.  No matter what your business, you can’t work with partners who are hiding something, at least I can’t.  Can you?

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September 1, 2015 · 11:00 am

CMO – uh oh…

I find research interesting. Maybe it’s my basic, curious nature or maybe I’m just nosy, but I enjoy reading studies of how businesses and consumers behave. Sometimes I’m pleasantly surprised. More often than not, I’m a little shocked. Today is one of those times. The folks at Duke University’s Fuqua School of Business have been conducting a survey of top U.S. marketers since 2008. You can read the latest CMO Study here. They released this year’s data and I found one section – the one on marketing analytics – particularly interesting. Let’s see what you think.

There are the headlines, as summed up in this analysis:

Just 31% of projects use available or requested marketing analytics, well within the 29-37% range seen over the past 3-and-a-half years, according to US CMOs responding to the latest edition of The CMO Survey. B2C product companies appear to be leading the pack in usage of marketing analytics, however, at twice the rate of their B2B product counterparts (45.6% vs. 22.8%). B2B product companies also give the highest rating to marketing analytics’ contributions to their firms’ performance. Overall, marketing analytics are most apt to be used for customer acquisition, customer retention, social media and segmentation, per the report.

Frankly, I’m not surprised but I am a little disappointed.  Two-thirds of the marketing work is still seat of the pants, basically, and it’s even worse when you’re marketing to other businesses.  I can sort of understand this last point – it’s hard to tell when a website or social visitor is a business target or just a random consumer that’s wandered on to your digital presence.  You B2C marketers, however, have no excuse.

What it really means is that companies lack quantitative metrics to demonstrate the impact of marketing spending.  That is a recipe for budget suicide.  It’s not just that they’re generally not using analytics.  The survey also asked about what data is being used.  Only 15% of firms able to prove the impact of social media quantitatively and four metrics dominate how companies show social media impact:  likes, general traffic, click-through rates, and hits/visits/page views.  In other words, the really broad, pretty useless measures.  I spend quite a bit of time with clients trying to get beyond those measures into data than can translate into actionable business decisions.  These generally can’t.

Any of us engaged in marketing need to become comfortable with analytics of all sorts.  They’re what’s for breakfast, lunch, and dinner.  Fail to eat them and you’ll starve.  Are you coming to the table?

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