INBOX INSIGHTS, November 29, 2023: Dealing with Failure, Video Viewing Sites - Trust Insights Marketing Analytics Consulting

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Perspectives on Failure, Part 1

Earlier this week I wrote about a failure I had recently. I didn’t share the story to get reassurance, but to remind people that failure happens to all us, and then we move forward from it.

But here’s the thing. Failure happens to all us, but we don’t all move forward. Many hide it, refuse to acknowledge it, or even recognize it.

In business, we equate a lack of failure with being risk adverse. We see companies and leaders who seemingly never fail. They make all the right moves at all the right times.

I call bullshit.

This is a lie. Everyone, every company, fails. But we don’t talk about it. Well, we talk about it theoretically, but we don’t share what really happens. We give lightweight examples where we have a resolution.

Admitting failure means being vulnerable. Owning failure means dealing with the fallout. It’s scary. It’s unpredictable. It can feel unsafe.

There is no shortage of content about failing. Freakonomics just released a new podcast series that you can listen to here.

I asked KatieGPT what I would say about failure. This is the response she gave me:

“Reflecting on Katie’s perspective, failure is not just an inevitable part of the journey; it’s a necessary one. She would likely emphasize that failure is a critical component of learning and growth. It’s through the challenges and setbacks that we gain the most valuable insights and develop resilience. Katie would probably encourage embracing failure as a stepping stone rather than a roadblock, viewing each misstep as an opportunity to learn and adapt.

In her approach, failure isn’t a reflection of personal inadequacy but rather a normal part of any process, especially in areas like business, analytics, and personal development. She would advocate for a mindset that sees failure as a source of actionable feedback, guiding future strategies and decisions. The key is not to dwell on the failure itself, but to extract lessons from it and move forward with greater knowledge and experience.

Katie’s advice would likely include practical steps for dealing with failure, such as conducting a thorough analysis to understand what went wrong, adjusting strategies accordingly, and maintaining a positive, growth-oriented mindset. In essence, she would view failure not as a defeat, but as a vital component of the path to success.”

That’s not too bad, actually. But it’s incomplete. It makes me wonder, why are we ok talking about failure, but not admitting that we do it? And the answer is, I don’t know. Sure, it’s scary as stated above. But there is more to it, right? There has to be.

So, I’m going to do something I don’t normally do and leave you with a cliffhanger. Eeek!

To get to the answer, I want to hear from you. I want to do more digging. I want to gather more perspectives than just my own.

I end every newsletter with a call to action to reach out to me. And I always hope you will. I don’t say it to say it. I mean it.

Reply to me to tell me your perspective on failure or come join the conversation in our Free Slack Group, Analytics for Marketers.

– Katie Robbert, CEO

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In this episode of In-Ear Insights, the Trust Insights podcast, Katie and Chris discuss rebuilding a restaurant’s social media presence. They focus on establishing basic consistency first before considering more advanced tactics. They cover the importance of predictability for building trust and meeting audience expectations. You’ll learn an effective approach for realigning your social media with your ideal customer journey.

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Originally, this week I had the idea of trying to visualize whether the entertainment industry strikes had any impact on video viewing habits. To that end, I pulled website visit traffic data from a dozen popular sites like YouTube, Playstation.com, Twitch, etc. using Semrush’s API to see if there was any pattern discernible.

All that went out the window the moment I looked at the first chart, which was a linear graph of visits to this basket of sites:

That brownish-red line? That’s YouTube. The blue line beneath it – FAR beneath it – is Instagram. That gives you a sense of the scale and power that YouTube commands. Everything else in entertainment is basically a rounding error compared to YouTube’s dominance.

When we rescale the chart to logarithmic just so that we can see ANY detail about the other services, here’s what we see:

YouTube is in the lead with more than 100 BILLION visits a month on average. In second place is Instagram with around 7 billion visits a month, followed by Tiktok with about 3.5 billion visits a month. Below that is Twitch, with about a billion and a half visits a month, and then finally Netflix with also about a billion and a half visits a month.

Think about that for a moment.

Netflix – the service that’s synonymous with streaming video – earns about 1% of what YouTube earns in terms of monthly visits.

If you’re producing video content, or you aspire to produce video content in the coming year that you want socialized, there is one platform you cannot do without, and that is YouTube. No matter where else you put your video, if you’re not putting it on YouTube, you’re missing the boat.

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