Musings from the CU Suite

Compiled by Anthony Demangone, Powered by NAFCU

I love feedback. And I hate hidden data. Unfortunately, the two are often connected.

I love Twitter for example. Not the comments, mind you. But I follow certain people, and I’m interested to learn what keeps them up at night or excites them.

The comments and likes are a different matter. It isn’t uncommon for a Tweet to generate hundreds, if not thousands of interactions from around the globe – often anonymous and sometimes downright nasty.

This is a new phenomenon. Thirty years ago, you learn what others thought, you had to watch TV, read about it, or chat with someone at a watering hole, conference or other in-person venue.  

The back-and-forth process of a good discussion was limited. Television and written information didn’t allow the exchange of ideas. Giving feedback in-person was always held back by societal norms. They know me, my name, and my company. This tended to keep us civil.

Now, social media has crushed that model. Like I said, conversations are now world-wide, and feedback is often anonymous. It distorts the data.

A thousand likes or interactions – is that a lot? Compared to the population of a city, state, or country – no. And who are supplying the comments? People highly interested in the topic, and often those who want to debate.

Social media seems to favor the angry voice. I think that anger is over-amplified. How do you measure feedback from people who are in the middle of an issue? Or measure those who simply don’t care? Or those that understand both sides of a thorny issue?

That’s why it is important to meet people face to face. To talk with them and get to understand them. I don’t believe everyone is angry. I believe most are reasonable.

You just need to get away from the yelling.

Now, on to this week’s reading pile!

• Exactly what happens when the Fed raises interest rates? (Forbes)
• Biggest Banks Band together to measure and manage climate risk. (WSJ) If it happens there, there’s a chance it could happen here.
• 100 ways to slightly improve your life without really trying. (The Guardian)
• The tipping point: The subtle psychology and economics of taxi fares. (Insights by Stanford Business) A major finding: People do not like doing math. When you give tipping options (15%, 20% ,25%), people are likely to choose one of them. Do we make people do math in our advertising?
• People are reading fewer books. (Gallup)
• Looking ahead: 9 trends that will steer marketing in 2022. (Marketing Dive)
• A nation on hold wants to speak with a manager. (NYT)
• Have you seen empty grocery store shelves? Here’s four reasons why. (WP)
• A nice analysis of the “great resignation.” (The Guardian)
• CB Radio. (Godin)
• Three retail banking trends the industry still isn’t getting right. (FB)
• 15 questions that change the way people think. (Leadership Freak)