5 ms·
"The day I did something very very bad" can happen to marketers too. I owned a pay per click management agency from 2005-2009. In 2008 I decided to buy some En
by jameszol 14y ago
"The day I did something very very bad" can happen to marketers too.
I owned a pay per click management agency from 2005-2009. In 2008 I decided to buy some Enterprise software to help me better manage big clients in competitive spaces. I migrated these clients over to the software, set up a bunch of automated rules to change bids and called it good. Then Saturday hit and we suddenly exceeded a single account budget by $40,000.
That was the day that I lost $40,000. I took responsibility for every penny of that loss.
After a thorough internal investigation, we determined it was a bug in this Enterprise software. We took our records to the software company and they admitted or confirmed that it was indeed a bug on their side. Unfortunately, they were such a big company that we couldn't get anywhere when seeking a refund. They lawyered up real fast upon our request for our money back. I didn't have the means to pursue it at that point, so we took the hit as a business and continued on our way.
The lessons I learned: audit every automated task, find ways to lower your risk while implementing changes, and hire/retain a business lawyer for the duration of your business.
- laserDinosaur 14y agoje-SUS. I felt sick just reading that...
- jameszol 14y agoIt took a good year+ for me to get over it although I still try to persuade people considering this particular company to seriously consider alternatives.
- dredmorbius 14y agoUnless there's some very specific reason, with consideration, you're not naming and shaming them, I'm a little surprised you aren't still. That's quite a hit.
- jameszol 14y agoThe past few years have been incredibly good to me. I don't have the time or energy to name and shame. I just keep busy trying to hustle and do what's right. I will also try to never make that mistake again because I feel like I learned something valuable with that experience.
- dredmorbius 14y agoFair enough. I have had the experience of shaming a company with a little essay that, over the years, garnered a few responses from other customers, a few employees, a particularly irate investor. And eventually watched the firm file for bankruptcy liquidation. Fun, that.
- sefk 14y agoWhoa, that's a bummer story. Not quite that London trader who somehow managed to lose $2B on bad hedging, but still.
- jameszol 14y agoYou're right. It could have been much worse. It's all about perspective isn't it? I like to think I grew up a little in business after this incident.