A Little Knowledge Increases Odds of Bracketology & Marketing Success
“March Madness” is underway. So, as the NCAA Men’s Basketball Tournament unfolds, reducing 64 teams to the “Sweet 16” and ultimately to the “Final Four,” how may times do you think you’ll be asked, “How’s your bracket doing?” Don’t you wish as many people were concerned about how your business is fairing as wonder about your bracketology endeavors?
Groups who survey these things estimate between 45 and 68 percent of Americans fill out at least one bracket for the NCAA’s trademarked March Madness. Amazing. That’s somewhere between 141 and 204 million people. And many of them fill out multiple brackets. Talk about a marketing campaign that’s caught on – bracketology is it.
On a purely mathematical basis, the odds of filling out a perfect 64-team bracket are big. Make that huge. Thank heavens for computers, because it would have taken an actuary somewhere, grinding on an old-time adding machine, a long time to figure out the odds of purely guessing a perfect bracket are 1 in 9.2 quintillion. That’s 9.2 with seventeen zeroes behind it.
The man behind these numbers is Professor Jeff Bero at DePaul University. His YouTube video shares the geekster formula used to calculate bracketology odds. He also reveals if you have some knowledge of NCAA Men’s Basketball and the teams in the tournament, then your odds of filling out a perfect bracket improve dramatically; to 1 in a mere 128 billion!
I hope that improvement in the odds doesn’t convince you you’re going to win your pool. After all, the odds of selecting the winning numbers for a Powerball Lottery jackpot are a 1 in only 195,249,054 and, according to the National Weather Service, your chances of being struck by lightening in an 80-year lifetime are a frighteningly high 1 in 10,000.
However, increasing the odds of completing a perfect bracket from 1 in 9.2 quintillion to 1 in 128 billion by using just a little bit of passion and knowledge should be inspiring to small business owners everywhere. Knowledge is power to succeed and excel.
For companies in the “outdoor world” the right marketing team on your sides is a huge odds booster. Thoughtful, expert development and delivery of your marketing message is key to sales and profits. Increase your knowledge, even by a little bit, of brand identity, marketing, search optimization, email, social media … and the odds of success suddenly change from the longest of long shots, to more likely than not.
Enjoy the season’s bracketology flirtation with astronomical odds, but when you need a “sure thing” for your business … it’s time to contact Primer180!