Moment 125: The Marketing Professor: The Biggest Business Mistake You’re Probably Making Without Realising It

Uh This is actually the great curse of a lot of modern business. Given the t title of your um podcast, which is that People generally over obsess about things which are immediately quantifiable and underinvest in things which are

Valuable, but hard to actually Put a figure on. Yeah. And so things like engagement or loyalty, of course. I mean, it's worth noting that customer loyalty is much, much slower to measure. Than for example conversion. Yeah. And so the extent that money is invested in performance marketing or the bottom of the funnel relative to, let's say, wider brand fame. Yeah. Uh it's a widespread problem in the whole business world, which is that the money isn't necessarily being spent in in the in the channels it is

because it's more effective there, but simply because it's more of it's easier to prove That it has an effect. The truth of the matter is, the world will always be too uncertain for us to know who our customers are in advance. And therefore, since You know, ninety seven percent of the potential customer base aren't in market at any given time and therefore won't be uncovered by search or you know, uh remarketing or whatever. Spending money on the ninety seven percent of people

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