It is really quite fascinating how decisions are made. Something surprising to me is how many decisions are made by people who are completely unqualified to make the decision at hand.
Many due some form of diligence but then many don’t. Some seek out the advice of friends, where others first seek the help of an expert and the best decision makers seek out a team of experts. Then there are those that seek Dr. Googles advice, read 2 or 3 links, and then are so confident they are not going to make the correct and best decision and they set off to do so.
In my field, one of the most foolish decisions I see CEO’s and CMO’s make is with media purchases. They take the advice of a sales person or an ad agency that represents the media company, to buy ads in various formats of display, banner, native, and video.
Its called the spray and pray method. I will caution you, if you are making a decision about media buying, do not expect the results to pay for the cost of the insertion order. Media buys never generate sales that are profitable. If this were a mechanism for profitable sales growth, they would be able to clearly demonstrate so with supporting analytics.
I’m not taking views or impressions. I’m talking about click to conversion, click to purchase, average order value, cost of customer acquisition, close ratio, days to purchase, abandonment in the funnel. When you are drilling down to the analytics that really matter, then you can make the proper decision at hand.
Do you have the supporting analytics to make the decision at hand? If not, then why are you making the decision?
