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.
By 2016, Forrester predicts that online advertising spend will overtake TV. Advertisers will spend almost $77 billion online, comprising 35% of overall ad spending.
And with the next evolution of digital channels such as Microsoft’s Kinect, Apple’s iAD, and social gaming platforms such as Zygna taking the centre stage, marketers will have to try a little harder than a QR code, a mobile website, or a social media web 2.0 campaign to keep up in the digital age. The emerging media platforms are racing to amaze their customers with innovative and novel experiences. And marketing has to keep pace.
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?
Last year, Microsoft released a study on the evolution of a 3-screen media environment. The premise of the study was that marketers need to be aware of the behaviors and attitudes of consumers towards each screen, how consumers expect their different media to work together, and what consumers expect from their media and advertising experiences. As we move into 2012, here at Impact Radius we have been talking to our clients and thinking about the challenge of marketing to the evolving “multi-screen” consumer.
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?
The Performance Marketing community is filled with people providing advice. Some of the advice is exceptional while some is not. With all of the changes in the industry, the demand for quality content and actionable insight is essential for people that want to stay ahead. So we decided to do the research for you.
After our exhaustive research in the performance marketing industry, we discovered an elite group of people providing extraordinary advice. Their advice is influencing the industry today and as importantly shaping the future. These are the proverbial movers and shakers, the influencers, the leaders and the motivators. Without them, the industry would be less transparent, less trustworthy, less important.
Tracking marketing campaigns used to be easier — TV, radio, and print were the three primary media channels and if people came to your store, or ordered from your catalog, it was relatively easy to trace their purchase path. These days, customers come to us from a myriad of sources: display ads, QR codes, email campaigns, media partner sites, TV ads, comparison shopping engines, organic search, PPC ads, etc.
Attribution reporting is a relatively new technology designed to help you understand the many different ‘touch points’ that consumers have with your brand.
One of the biggest draw towards digital for marketers is the ability to track and generate performance data. Everyone needs data, and today even the most amateur of digital marketers have access to a combination of databases, software interfaces and analytic tools to manage campaigns, study web analytics, track media partner conversions and create reports about social influence. The trend towards data has however made data collection and reporting more complex: suddenly, we are all using a myriad of software interfaces, reporting tools and good old fashioned spreadsheets to manage, measure, track and optimize our online marketing campaigns. The challenge becomes the ability to aggregate this data and extract it in meaningful ways for all stakeholders across the organization.