These days, algorithms have gone from a phrase only people who like math used to know, to something we talk about every day. On social media in particular, algorithms define us as users. They show advertisers what we like, what we purchase, what we support and believe in. And they’re solely responsible for whether or not we get 500 dog videos in our feed every day! If we show that we “like” something, we are then fed things some computer generation says we should like. Sometimes it’s that simple, sometimes it’s not. For example, I do like dogs, but not in the way that I want to see them dressed as ballerinas or swimming with an otter. If I click on one dog video, the algorithm says I need 500 more dog videos, and, for me, that’s simply not accurate.
But what if I told you that I have a free algorithm that can predict which of your brands have the greatest potential to expand with an 80% accuracy?
Alongside statisticians and a panel of brand experts, my colleague, Mark Di Somma, and I created the LASSO (lateral, addictive, storied, scalable and own-able) Method, as a way to provide a repeatable, widely deployable, and inherently objective method for executives to evaluate their brands. Through our algorithm, you can immediately assess your brand’s expansion potential by comparing it to 56 failed and successful brand extension efforts, including those of Coca-Cola, Mickey Mouse, the NFL, Chupa Chups, FIFA World Cup, Nerf and more.
Answering just five questions could change the course of your brand! Take the survey here.
P.S. If you’d like to see the behind-the-scenes ways in which we constructed this algorithm, which comes from a chapter in my book, Expand, Grow, Thrive, click here. My LASSO method can be found here.