Failure to attribute every referred action is a big issue for performance marketers. The numbers whispered in private conversations cite between 5-30% lost. That’s a big, expensive problem. But a bigger problem is that somewhere along the line we’ve all grown to accept the breakage. We believe that technology deficiencies can’t be overcome. The message “this-is-as-good-as-it-gets” is not only a big problem: it’s a big lie.
In the summary of our #2012Marketing Challenges Series, we referenced our plans to post solutions for each of the topics listed in the series. We’re pleased to announce the publication of our 2012 Marketing Solutions e-booklet. It’s available for free from our resources page.
I’ve spent over 25 years in managerial roles and learned early in my career to ask anyone presenting me with a problem or issue to also recommend a solution or next steps. Otherwise, every problem becomes my problem. And that scenario quickly cripples organizational effectiveness.
After a while, this rule becomes part of the team’s culture. So, when we conceived of the “#2012Marketing Challenges” series, we planned to include a “solutions” piece right from the start.
Earlier this fall, at Digital World Expo, we conducted an informal survey asking marketers about their biggest challenges. Nearly everyone described a common scenario: Managing their many priorities with too few resources. Getting it all done with less. Less budget. Less headcount. Less time.
Whether or not marketers actually need to squeeze more from their budgets, staff or daily schedule, the perception is getting it all done is an increasingly difficult goal. Why? What’s changed in recent years to challenge marketers with the fairly straight-forward goal of generating leads and closing sales?
Does social media generate new business? Are the customers buying more because of activity in the channel? Or should we even be asking performance related questions of our social media efforts? Whatever the answers – “social” remains a buzzing topic among marketers.
The case for social media as an engagement tool and customer retention strategy is undeniable; however, many companies question whether or not social media drives new customers to buy. Should marketers invest in the channel, and if so, what amount of budget is the right amount of budget?
Robert Collier, an early pioneer of direct response marketing, often said that one of the most powerful ways to influence people to buy is to present them with a novel offer. Consumers crave novel experiences, and if they have never seen the offer before they will buy in throngs. But, as he warned, don’t rely on the trick to last long. Novelty has a short shelf life after all.
In 2010, consumers found novel offers through the explosion of deal sites. They could use their collective bargaining power to get ridiculously cheap products and services from their local merchants. And they bought. Groupon grew from $33 million in sales the year before to $760 million in 2010. Yet, in 2011, it looks like the novelty is wearing off. Since July 2011, according to Experian Hitwise, Groupon has seen a 50% dip in its web traffic.
Last week Impact Radius was ‘exposed’ to the inaugural Digital World Expo (#DWEXPO) – a next gen marketing conference held at the prestigious Las Vegas Mirage resort. Ignoring the “What happens in Vegas stays in Vegas” rule, we’re going to share a little about what happend on our trip.
The Las Vegas strip will be filled in a few days with legions of digital marketers all arriving for the inaugural Digital World Expo, held at the MGM MIRAGE, September 25-27, 2011.
One man that knows a thing or two about Las Vegas (and next gen advertising) is conference organizer, and former Interactive Marketing Director of Cirque du Soleil, Cox Communications, Wynn Resorts, and the MGM MIRAGE, Shawn Rorick.