Fitzcarraldo, sanity-checking 2016 predictions, and Ardath Albee's quote of the week
Friends,
It's downright poetic and appropriate that edition #17 of the World's Best Newsletter is my first of 2017. Happy New Year to you and yours - may it be filled with moments of zen, bursts of brilliance, and mounds of patience and empathy.
Did 2016 marketing industry predictions come true? I ask this question in my latest post on LinkedIn.
In this edition of the Katie Martell Weekly:
Fitzcarraldo, and other obscure sorrows
160k articles published weekly on LinkedIn
Death of the unicorn
Only 21% of marketers can prove what they do matters
Meaningless data correlations
Venezuela's currency value depends largely on one guy at an Alabama Home Depot
Why you bought so much during the holidays - psychology
Quote of the week - Ardath Albee
Who's hiring
1. Fitzcarraldo, and other obscure sorrows
This incredible (fake) word (n.) means "an image that somehow becomes lodged deep in your brain - maybe washed there by a dream or smuggled inside a book, or planted during a casual conversation - which then grows into a wild and impractical vision that keeps scrambling back and forth in your head like a dog stuck in a car that's about to arrive home, just itching for a chance to leap headlong into reality."
This sensation happens to me all. of. the. time, and now, I have a word for it. Peruse hundreds of other hard-to-define sensations in The Dictionary of Obscure Sorrows.
2. 160k articles published weekly on LinkedIn
The Drum ran an article about the Top Writers on LinkedIn in 2016 list, in which I'm quoted. Take a look.
Within, they note that 160,000 articles are published every week on the network.
That's an incredible amount of content. Information industry analyst Michael Levy wrote recently he hopes LinkedIn will provide long-tail access to posts and updates. "If a service cannot support long-tail research, then it is falling short of its potential." I couldn't agree more.
3. Death of the unicorn
Chris O'Brien speaks truth when he says "tech's dumbest trend may have finally died in 2016."
"The term may have been briefly useful, back when one or two private companies exceeded $1 billion in valuation on paper a few years ago. But, as with so many things in the tech world, the industry has a way of taking a moderately interesting concept and running completely amok with it. When it seems every startup is a unicorn (or at least 183 of them by CB Insight’s current count), they are no longer what you could call rare creature. The word has become meaningless."
This is why we can't have nice things.
4. Only 21% of marketers can prove what they do matters
I have a really great client, Allocadia, who makes software for Marketing Performance Management. They deal with the side of marketing that really doesn't get enough attention... the planning, budgeting, and measurement side that sometimes takes a back seat to the sexy new tactics in the world.
I love them because they have serious name-brand clients (hello Microsoft), are solving a serious problem (marketing performance / trust), and were founded by two seriously badass twin sisters. They rock. Keep an eye on them.
We just released some really interesting research findings. Only 21% of companies are able to fully measure marketing's contribution to revenue, and companies that get it right are 3X more likely to align Marketing with Finance.
Shoutout to Sam Melnick (former IDC analyst), Allocadia's VP of Marketing and my tennis buddy for driving this research. Check out the results.
5. Meaningless data correlations
Love this. What's the correlation of the number of letters in winning word of Scripps National Spelling be to the number of people killed by venomous spiders? Surprisingly strong. Eeeek.
6. The power of information
Venezuela's currency value depends largely on one guy at an Alabama Home Depot
"In Venezuela, the government officially sets the currency rate and it’s illegal to publish exchange rates for black-market dollars. But Díaz’s website does just that, basing the rate on actual street prices that Venezuelan consumers are paying for food, medicine, cars and everything else."
They've tried to blow up his car, harass his 9 year old son, so he's come to the US. But from here, he can seriously do harm to the dictatorship within Venezuela. With information. Amazing.
This is a beautiful lesson in the power of information, stronger than that of government institutions who run state-controlled media.
7. Why you bought so much during the holidays - psychology
When customers are happy, they purchase more. When there are consequences for not buying, like holiday deals ending, it creates an urgency to buy. When there is anticipation, and excitement (buzz, like the Santa Tracker) it creates a perfect environment for shopping. Appeal to reciprocity. Personalize products and messages. Read all about why you spent so much of your paycheck this holiday season, with real examples.
8. Quote of the week
"By the time they catch up to my next book, I'll be dead."
Ardath Albee - sought after speaker, consultant, and author of two books on B2B marketing - published her first book in 2009. Her second, Digital Relevance, was published in 2015.
She said this hilarious quote on a recent phone conversation, causing me to nearly spit out my coffee with laughter. We'd been discussing the maturity of many organizations who aren't caught up with the hype of the industry. The fact is, her first book still serves as an appropriate guide for a majority of companies fixing their lead generation processes, even seven years later. Truly hoping Ardath sticks around for folks to catch up to her advice. If you haven't read either... what are you waiting for?
9. Who's hiring
New in my inbox this week (happy to make introductions!)
Digital Lumens content marketing lead
Digital Lumens marketing operations lead
CabinetM is looking for a biz dev / sales leader (nontraditional role, ping me if interested)
RedPoint Global is hiring a brand manager
I'll leave you with one more thing as we all embark on the wild ride that 2017 is sure to be:
Best,
Katie
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