Marketing is simple in one way. The recipe of how to become successful is scientifically proven, over and over (the 10-point checklist is coming in the next post). Still, few listen and act accordingly. Instead, many modern marketers tend to jump into “the-cool-of-the-day” marketing ideas without evaluating what pros and cons it will provide to the long-term strategy and objectives.
It might be called “business-to-human”, “the 360 approach”, “content drips strategy”, “leverage user-generated content”, “data driven approach”, and so on. Whatever new idea, it’s often mis-understood and mis-used, but obviously gives a cool and modern impression when the marketer talks to management and colleagues. Where do this “trendy” marketing ideas originate? And why do so many jump into them and change their marketing strategy? Maybe they have fallen for the Goalkeepers Paradox…
This interesting case is built on studies of how goalkeepers act during penalty kicks. Studies show that 29% of all penalty kicks are placed in the middle of the goal, but in only 9% of the cases the goalkeeper remained standing. The study concluded that if you compare how the penalties were shot and how the goalkeeper acted, the goalkeeper would save 1 penalty out of 3 if he stayed in the middle of the goal, but if the goalkeeper took a chance and dived towards one corner, the chance of saving was only 1 penalty kick out of 7.
Since the study is public and most major teams have lots of statistics about opposing teams and players, the obvious question is why don’t more goalkeepers stay in the middle of the goal when a penalty kick is coming? The answer lies in how the goalkeeper is perceived by others. If he stays in the middle of the goal without diving, he will look passive on two penalty kicks out of three, which is not good for the goalkeeper’s career – even if he saves every third penalty kick. On the other hand, if the goalkeeper takes a chance and dives, this is a fairly risk-free strategy even if goals are scored on 6 penalty kicks out of 7. The normal/expected thing is that there will be a goal, and there is no shame for the goalkeeper to be outwitted.
So, before jumping into a new cool marketing idea, think about why you are doing it and how it will affect your total marketing strategy. There is nothing wrong with trying new things, on the contrary, but a good advice is to use the 70/20/10 rule. Use 70% of your budget for activities that you know works, 20% of the budget for newer possibilities that you have tested and want to expand and 10% for experimental initiatives.
This might sound a bit boring and traditional, but you will create results – and maybe even save more than 1 of 3 penalty kicks…
If you want to discuss marketing strategy the creates results, just reach out to ulf.vanselius@comprend.com