- Buzzwords often move the discussion away from the real issues. People who rely on buzzwords tend to be posers, and they don’t generally have the ability to see the real causes of problems or key success factors. I’ve seen IT folks who committed to system re-platforming (yet another buzzword in some circles, like system migration was years ago) to achieve better customer experience and more accurate targeting. That could have been a good first step if their data were a complete mess; but in my opinion, there were other pressing issues and cheaper solutions for them. I wondered where they got the idea of re-platforming in the first place — some conference somewhere?
- Many buzzwords were created by software and solution providers in a quest to capture the essence of the product in the simplest way possible. The trouble is that blindly buying into such technology-oriented terms moves decision-makers away from business, marketing and target audiences (who, by the way, are people — not merely subjects with whom to experiment). Marketing, as we all know, is not just sums of technical solutions. Even with the rise of machines that are capable of self-learning (machine-learning being yet another buzzword du jour), customer experience management, as one example, should still be a combination of mathematics and human elements. Marketing challenges are not merely mathematical problems with concise, numerical solutions.
- Related to the previous points, many buzzwords are simplified marketing tags, as in: “If you buy our product, all your dreams will come true.” We all make slight exaggerations, but that’s bad news when it leads to false promises. There is no magic bullet that takes care of all issues in one shot. So, don’t hedge a bet on some latest buzzword-ridden product.
- False promises often lead to a false sense of security: “How can we have any analytics problems? We’ve bought state-of-the-art analytics software!” Well, state-of-the-art is another buzzword, isn’t it? I’ve seen cases where companies spent seven figures on CRM platforms, thinking that their revenue will match their unreasonable expectations based on false promises. But data and analytics are games of continuous small improvements, and favorable results do not suddenly appear just because you spent a lot of money on the problem.
- All of these issues lead to under-budgeting and over-spending, and blown budgets prompt the blame game. Who bought into the buzzword in the first place? Well, no one is stepping up, so let’s make that buzzword the scapegoat! A true Dilbert moment. I’ve seen companies where executives treated analytics as a bad word. I wonder who started that chain reaction? Could it have been a poser?
I’ve also seen cases where some shiny new buzzword became an absolutely dirty word within an organization in a matter of two years. The funny part is that the core concept may still be valid! Why? Because this data-based marketing is made of many components — much like the movie business. It is really the combination of ideas, data, analytics, contents, delivery and timely execution that gets the results, not just components with flashy brand names or subtexts.
It’s bad when such catchy names go viral and start gaining some sort of magical power. People with different levels of technical understanding will rely on magic power for shortcuts, and that often creates a chain reaction of meltdowns, blown budgets, missed deadlines and disappointing revenue growth.
A short answer to all of this? Let me finish with a cliché: If it sounds too good to be true, well, it probably is. Unless you have a degree in wizardry at Hogwarts.
In other words, if you are a Muggle, don’t buy into the magical power of any word.