I Am Tired of Bullshxx Surveys

Phil Herscht over at Horses for Sources  had a major rant about service providers subjected us to Powerpoint hell.

He rants,

I don’t believe I’ve ever witnessed a time our services “industry” has descended into such a mind-numbing pattern of meaningless marketing hype and unintelligible bullsh*t.  It was bad enough when everyone was painting pretty pictures of “transformation” to sugar-frost labor arbitrage deals, but at least we could understand the bullsh*t and detect its scent a mile away

Today, we’ve fallen even deeper into a trough of verbose desperation, as most service providers and advisors replicate each others’ sales decks to reel off an increasingly inane plethora of confused rubbish, that is transcending further and further away from reality.

See more of Phil’s rant here. - See more here

I had to laugh because I feel the same way of all the “survey” information out there that is depicted as fact when in fact what it really shows is that people are starved for data that matters.

See, there is a difference between true market intelligence that can help build a go-to-market strategy and market research that goes to support your view of the world so you can package into nice pie charts to show the world why your solution is the Best, I mean better than LeBron James (or Michael Jordan, depending on what era you are from).

They usually go something like this. Our survey examined more than 1,000 businesses on working capital and found:

  • 79% agree that non-bank lenders are perceived positively or very positively
  • 40% would like to use a SCF program
  • 75% believe banks are less active in the commodity finance space
  • 50% of more than 1,000 U.S.  are concerned with their ability to finance long-term growth

As my friend likes to say, the above and $4 buys you a latte at Starbucks.   Or as we said during Information Systems class in college – GIGO – Garbage In, Garbage Out.

Let’s stop the practice of using PR and marketing firms to do “research” using surveys to create nice pie charts that say nothing.  The bottom line, it doesn’t move the needle for anyone other than the firm pocketing the cash.  It makes the vendor look foolish to those that know it's all for soundbytes.

People wonder why businesses sputter and transactional finance is not where they think it should be.  Because it’s hard. There are complexities out there these surveys will never address.

Okay, enough of my rant, but I join Phil as well in saying lets nuke these Powerpoints.  You can read that rant done last year, Powerpoint’s Disservice to FinTech

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