This is actually the great curse of a lot of modern business given the title of your podcast,

which is that people generally over obsess about things which are immediately quantifiable

and underinvest in things which are valuable but hard to actually put a figure on.

And so things like engagement or loyalty of course, I mean it's worth noting that customer

loyalty is much, much slower to measure than for example conversion. And so the extent

that money is invested in performance marketing or the bottom of the funnel relative to let's

say wider brand fame. It's a widespread problem in the whole business world which is that

the money is necessarily being spent in the channels it is because it's more effective

there but simply because it's more of it's easier to prove that it has an effect. The truth

of the matter is the world will always be too uncertain for us to know who our customers are

in advance. And therefore since you know 97% of the potential customer base aren't in market

at any given time and therefore won't be uncovered by search or you know remarketing or whatever.

Spending money on the 97% of people in advance ahead of times is still a very effective thing

to do. The reason people do too little of it is that it's hard to quantify. On that particular

point then having worked in the advertising industry this is a conversation we have all the time

of clients which is you'll meet a certain type of client who's very religious about the bottom

of the funnel. If I can't track it and I don't know exactly. I won't do it. Then you'll sometimes

meet the opposite which is someone who just loves to spend on brand and I don't necessarily think

it's wrong. I mean Mark Ritz very good marketing professor always talks about the importance of

both ism and he says it's vitally important that when I actually speak about the importance of

brand marketing that you do not interpret this as denigrating digital marketing. In fact I go a bit

further and say the bottom of the funnel in many respects is the thing you have to optimize first

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