It’s (hasn’t) been a while since I drug Disney through the wringer, but Disney is mayhap the best example of what not to do in business.
Specifically with Lucasfilms, the division that owns the IP to George Lucas’s Star Wars, and who has absolutely tarnished said IP because they seemingly despise their core audience.
First anti-lesson: Having contempt for your audience, fans, and customers fast-tracks your growth.
But I want to talk about something more applicable to your business and the world of email marketing in general.
Because, yes, while hating their customers is Disney’s biggest business mistake, most business owners don’t actually hold contempt for their customers. If anything, it’s the exact opposite: They’re too grateful for their customers—which makes it easier for their customers to dupe them into lengthy, time-consuming and money-wasting mistakes. Story for another day.
Anywho:
Last time we chatted about Lucasfilms, I made the case that their movie and show announcements (most of which have resulted in no new content—and even ones that resulted in new content have been dog poop) have shattered their audience’s trust in what they say.
But Lucasfilms seemingly doubled down on this mistake.
In fact, if I didn’t know any better, I’d even say that they foolishly think the best way to make revenue and revive their dying company is to … well … pretend to be a thriving brand and base all of their business decisions on vanity metrics instead of what actually matters—no different than marketers who obsess over open rates instead of the real metrics that actually move a business forward.
Here’s what I mean:
Lucasfilms seems addicted to announcing Star Wars projects. They just announced a new Rey trilogy, featuring the lead female Mary Poppins figure from the latest trilogy.
They’ve also announced a movie from Kevin Feige of Marvel. And Taika Waititi. And Rian Johnson. And several others I don’t care to look up to fluff out this paragraph even more.
All of these announced movies are untitled. And there is not a real chance any of them see the light of day.
But Disney announcing projects just to do nothing with them is a symptom, not a cause. It doesn't even have anything to do with wokeness, though that does not help.
The real problem?
They rely on vanity metrics (untitled projects in the “can” that makes them seem like a thriving production company even when they aren’t) instead of the metrics that matter (which, in their case, is simply respecting the IP they bought and making films that fans enjoy).
Tis a recipe for disaster.
And I’ve seen a similar story play out inside the email marketing platforms of many brands.
Listen up cully:
A brand obsessed with vanity metrics can’t be as successful as it could be. Vanity metrics are often in a zero sum game with metrics that matter. Now, this isn’t to say that an email that gets opened at a higher percentage will always make less revenue. That is absurd.
However, what I am saying is this:
A strategy that overinflates the value of vanity metrics will never be as successful or profitable as a strategy that obsesses over real metrics, e.g. revenue generated.
The former will send your business the way of Disney—where, if you live long enough, you’ll see yourself become a villain where you despise your customers.
The latter?
Well, the latter will send you down the road of more profit, more freedom, and more influence.
Your choice bucko.
But if’n you need the help of a professional, then, well, you came to the right place.
Hit reply and let’s set up a call.
John
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