Perception is reality

Perception is reality. An often frustrating, but no doubt valuable lesson for anyone attempting to convince or persuade.

US restaurant chain, Cracker Barrel, learned that lesson the hard way this week. A change in the company’s logo, from something The Cave would describe as “bad” to something it would label “worse” caused a national uproar.

The brand lost $100 million in market value as a result, and quickly reversed course, reinstating the old logo. Unfortunately, no news outlet has yet reported on the reaction of the designer who spent months going through 186 versions, only to see their work despised and dumped within a week.

The perception - that the company had abandoned its loyal customers - drove reality, ignoring the actual fact that Cracker Barrel shares had fallen from $180 in 2018 to $55 before the crisis hit. The real truth was that those loyal customers had long since abandoned the brand. It matters not.

In Australia, a new student evaluation system has University of Sydney academics on edge, with pupils’ perceptions set to play a bigger role in the reality of their careers. Among the many concerns expressed by staff was that those with accents would be marked down by students. Which does seem unfair - after all, if you grow up in Australia, you can’t really help but have a silly accent.

Meanwhile, a new study shows that perceptions around CEO pay are way off. Given the vast differences between perception, preference, and reality, the misconceptions may be the only thing standing between us and a full blown socialist revolution.

There has always been a gap between what we believe and what is evidently true. But this is becoming larger and more impactful than ever as trust in experts and universally shared truths give way to whatever the vibes are in your own echo chamber.

We all suffer from this. But this week, no one more than that poor Cracker Barrel logo designer.