Welcome to my blog. I document my adventures in travel, style, and food. Hope you have a nice stay!

A question about experimentation

In a 2007 session at ad:tech NY, Coca-Cola’s Director of Global Interactive Marketing John Stichweh said any company not devoting 10% of its marketing budget to experimentation will fall behind.There was an SNL skit where Will Ferrell, as Harry Caray, interviewed Jeff Goldbloom, who was playing an astrophysicist. There was a snippet of dialogue that went something like this:
Harry Caray: Hey! What about this?! If you had a choice between being the top scientist in your field or getting Mad Cow Disease, what would it be? Jeff Goldbloom, Astrophysicist: Well of course I would choose to be the top scientist in my field. Harry Caray: Oh good! I was worried you’d choose Mad Cow!
Anybody presented the choice between “being innovative” and “being stagnant” would choose innovative. Right? I hope? So how does your business manage experimentation? Do you? Do any of you have a formalized chunk of your budget allotted for it? Do you play it by ear, perhaps experimenting if a new idea falls under your radar? Do you limit your resources to the “Old Faithfuls” – traditional tactics you know have worked historically, and do not give your board heartburn? This week, Trabian client The Filene Research Institute is hosting a colloquium on credit union collaboration. Have a discussion point? Click the link and leave a comment in their blog post with your topic. They’re recording and publishing the discussions from the event later this year (or in early 08), for your consumption and pleasure.

Coffee shop poetry

Where's the "Wow Factor?"