Everyday I am online aggregating information. I am continually amazed how many people (a.k.a. storytellers) throw out numbers/marketing data without a point of reference. Makes me think about the relevance of what I am reading. Relevance, a concept I learned from the Heath Brothers.
Relevance (noun) – the quality or state of being closely connected or appropriate.
The Heath Brothers enlighten me regarding the concept of relevancy in their book titled: “Made to Stick.” The story I remember was the truth about movie popcorn. Art Silverman who worked for CSPI (Center for Science in the Public Interest) analyzed the nutritional value of movie popcorn. CSPI learned that the typical medium size bag contained 37 grams of saturated fat. He then realized few people really knew what that nutritional data point meant. Was 37 grams good or bad? To communicate Mr. Silverman’s findings and make them relevant, the CSPI created a visual: they laid out on a table demonstrating how one bag of popcorn was equivalent to the saturated fat from a bacon-and-eggs breakfast, a Big Mac and fries for lunch, a steak dinner with all the trimmings — combined! Relevance!
In 2019 I aggregated information about influence marketing that lead to some interesting engagement with members of my Tribe. One individual referenced an article touting the future growth of influence marketing, therefore projecting $8 billion was going to be spent on Instagram influence marketing in 2020. My Query: What percentage of total marketing dollars worldwide is $8 billion? Answer: 1.4 % of the $563 billion. Earlier this week an article I read indicated that by 2023 brands will be spending 20% of their marketing budgets on influence marketing. What is the relevancy of that number in comparison to the $8 billion dollars I read about in 2019? In addition, 20% is a quantum budgeting leap from 1.4%!
Maybe it is time to question the true relevancy of content published online.