Manage episode 275164539 series 2811318
The sunk cost fallacy is dragging down marketing. It's defined as continuing a behavior or endeavor as a result of previously invested resources (time, money or effort). Think: shelf-ware tools, poor marketing channels etc.
How many marketing channels do you know are not performing but you keep them anyway? How much tech do you have that isn’t producing the results you had hoped for, but you are continuing to use it anyway because of the large investment?
In B2B marketing, sunk costs are bound to happen. But don’t fall into the trap of letting them continue and get worse.
Tune in to see how common it is and the questions you can ask yourself to understand when to kill something in marketing before falling for this fallacy.