Monday, June 28, 2010

Why us Finance Folks are Needed by Creatives and Marketers

Marketers are like Politicians. Its style and fluff over substance. It's about creating an image because that is their job. And for both when you peek under the hood it can be pretty scary. Remember a marketing or advertising agency is used to spinning things for their clients to get people to try a product, service or brand. Once that occurs their job is done. If the consumer tries something and the product, service, or brand does not fulfill expectations no marketing in the world can fix this.

Finance people don't like the fluff. We tend to be direct. We analyze numbers fast. We will use cost basis justification (proving superior value or return or investment). So when the news, marketers and politicians were spinning Health Care reform costing $1 trillion over 10 years, Finance folks immediately said: That is only $100 billion per year and less than our wars and only 15% of our Military Budget.

This week it was announced that Facebook users watched 250 million videos last month. The head of a BDA (see George Parkers Ad Scam link to your left to know what a BDA is) touted this milestone. I am a finance guy. I immediately took that number and divided by Facebook's 450 million active user number. And Whammo....0.6 Videos per active user per month. That is like me spitting in the Ocean and telling you the Ocean now has my spit. Its un-newsworthy. Period.

To see other Facebook Facts that are Un-newsworthy see my blogpost on analyzing the data:


Apple Sells 1.7 IPhone G4's first week:


Immediately I only care about how many units replaced old I Phones that were this taken out of service. See my comments on the Media Post Article.

So us Finance folks are needed to ensure our clients or the people we work for don't get taken in by spin and cut through to the reality. And it goes both ways. A Finance person is more likely to tell their client the truth, that their product or service or operations will impact our work. We won't promise sales to go through the roof just to win business. When I bid to consult on Social Media I do not bring up crazy numbers. I give them reality. But often they prefer the crazy numbers, and that means they aren't usually a client I should work with.

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