Friday afternoon across the United States there was a resounding chorus of “Ugggg! There goes my bracket!”. The social media channels lit up with posts, tweets, snaps and memes! Even my 9 year old lamented “There goes my Lambourghini!”. How could the numbers have been wrong? How did 15th seed Middle Tennessee Blue Raiders defeat #2 seed Michigan State in the NCAA Men’s basketball tournament? It’s March Madness at it’s finest!
For weeks leading up to “The Big Dance”, fans are consumed with analysis of players and teams. There are endless discussions of statistics, game theory and bracketology. Everyone has a theory on how to use the numbers to predict the outcomes. The odds, the overs, the unders, the spread, the best bets, the dark horses, the Cinderella stories…. and in the end 9.2 BILLION DOLLARS will be wagered.
All of this number frenzy is in pursuit of the perfect bracket to win money, prizes and bragging rights. This year, Warren Buffet upped the anti in his company pool to give the winner one million dollars a year for life! The Car Lister Bracket Challenge is offering a new Lamborghini. DraftKings, Yahoo, CBS, ESPN are each offering cash prizes and, of course, everyone wants to dominate the office pool. Truth be told, however, the odds of picking a perfect bracket are 1 in 9,223,372,036,854,775,808.The odds of picking a perfect #MarchMadness bracket are 1 in 9,223,372,036,854,775,808. Click To Tweet
Upsets like the one on Friday are not uncommon. My family will never forget the 2012 game when 15 seed Lehigh University beat #2 seed Duke University. The big upset was even immortalized in a YouTube video. In 2006, 11th seed George Mason won game after game and shockingly made it to the Final Four! How could these upsets happen? It’s totally inconsistent with what the numbers predicted. The numbers!?!
Perhaps, THIS is the fun of watching March Madness each year? The games are fast and exciting. These basketball teams are comprised of players who are playing the biggest game of their lives or, in many cases, the last game of their basketball career. They play with heart and give 150%. Here we encounter the most important number and the reason why the other numbers aren’t consistent predictors of the outcomes.
This got me thinking about numbers and outcomes. The effectiveness with which numbers CAN predict outcomes in digital marketing is what makes THIS GAME so exciting. In business, however, WE are the teams and consumers pick us. The good news is that we can easily define the selection criteria based on data and then use specifically targeted and placed content to seal the deal.
So let me simplify it in basketball terms. It just takes a little bracketology. Here’s what I would put in my Final Four winning marketing madness data bracket. Measure these and use the data to predict the winning game outcome.
Yes, it is all about conversion, isn’t it? Be the team everyone wants to pick. Consumers in the end will go for the team that will do the most for them. Use your data to outline your company’s Customer MVP. Once you know who your MVPs are you can identify how to best fill their needs, overcome hesitations and be where they are to get them to engage and convert. Slam dunk!