The Blackline Between Sales & Marketing Podcast

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Episode 35: Forecasting and the Null Hypothesis

Posted by Doug Davidoff on Jun 10, 2019 3:01:45 PM

If you could choose between one of the two options - you can have a higher open rate and click rate or you can have more opens and more clicks, which would you choose? Mike and Doug explore how this is a false question and other data driven issues.

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Show Notes

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People aren't addressing what outcomes or goals they have for their data. Why? Mike says it's because they don't know what they're trying to achieve while Doug says it's because everyone wants to skip that part because it's the hard work. So then what's the point of all this data and how we are using it? Well, what we need to know is what the point of diminishing return is because the majority of things marketers do are meaningless.

This falls into the technology realm and how it's thought that implementing new technology is attributed to new growth. This is why marketers jump from trend to trend, but we have to think would the increase of growth happen regardless? Ultimately, everything reverts back to the mean.

 

Topics: Trends, Marketing, Data