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.