From the pulpit
The Editor’s introduction
Issue 49 | December 2018
What we were doing in advertising 50 years ago still works today. We know that.
What we were doing 10 years ago still works today. We think.
What we are doing right now works. We hope.
But that's no reason to head back to the past. In fact, it's every reason to keep innovating in advertising and design and simply to get faster at measuring effectiveness.
Eric Schmidt wrote in "How Google Works" about the 70-20- 10 principle.
If you're a marketer, 70% of your spend should be on what you know works, 20% on what you think works and the last 10% on taking a punt, trying something new and radical.
Data from Deloittes seemed to show that companies operating to this principle outperformed their competitors.
Now I see fresh evidence from Deloitte's Digital Transformation leader, Geoff Tuff, that companies that live by the rule are getting inverse returns. In other words, 70% of their profits are coming from their experimentation, 20% from steady innovation and just 10% from sticking to their knitting.
For 49 issues, Directory has concentrated on those 10% and 20% ideas. Because while traditional advertising does work, it is expensive to make and slow to measure. The sort of work you will find in the next 103 pages has, for the most part, cost relatively little but has generated both massive return-on-idea and substantial return-on-investment.
A thank you to subscribers from Laria Collister
Directory is a labour of love. It's also a family business.
I edit the magazine with the help of Deputy Editor Julie Charlton and my wife, Dorte, does all the behind-the-scenes stuff. She calls herself the Chief Bottle Washer though she is more the Chief Worrier, Chief Organiser or, more generally, Chief Rottweiler.
The magazine just about breaks even.
Our one indulgence is to sponsor our daughter Laria, who with her horse Nia, has grand ambitions to compete at the Olympics.
Her job as a stables manager pays way below the legal minimum wage in the UK. So, Directory gives her a bit of help. Not much. Less than a subscription per month. Nevertheless, without your help, dear subscribers, she would not be able to pursue her dream.
She has asked me to thank you on her behalf and I am very proud to do so.
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