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.
Impact Radius will be back in New York next week for ad:tech NY, one of the largest events for digital marketers. From November 8th to 10th, we’ll be at the Jacob K. Javits Center New York to showcase the latest Impact Radius technology. So whether you’re an advertiser, media partner or agency, we would love to meet you to tell you about some of our exciting new products. Drop us a note at firstname.lastname@example.org to schedule a time with our team.
The promise of digital marketing is that metrics, measurement, and data-driven decisions will help marketing executives to produce a higher ROI. And yet, as most top-performing marketers know, the proliferation of campaign data and tracking analytics has actually made our jobs harder, not easier. Layer on top the convergence of offline and online marketing campaigns and the issue further complicates itself. Consider that in a 2011 study by Forbes nearly half of respondents reported increasing their spending on business intelligence and 78% reported that they were placing more scrutiny on what channels performed.
In September 2011, Facebook was hit with a viral storm of angry status updates from its users, protesting the social network’s proposed new monthly fee. It was a hoax, of course. Facebook never intended to charge its users, stating on their login page that Facebook is “free and always will be.” And it wasn’t even a new hoax. The same one spread in 2010, and resulted in 300,000 users signing a petition against the new fictional charge.
The lesson, though, for marketers is how little the average person understands about companies like Facebook and Google. As any marketer knows, the prime movers in the digital economy are not user fees: the real prize comes from the control and harvesting of data from vast audiences.
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.
At the Web 2.0 Summit, eBay CEO and president John Donahoe said “[The] boundary between online and offline is blurring. Consumers are embracing this, and retailers need help.” Clearly, the buzz around the importance of integrating online and offline deserves its place in conversations. At the same time, though, integration isn’t easy. To achieve true integration of online and offline, we need to think beyond simply including URLs in TV and radio ads, or placing a QR code in your print ads.
In the first quarter of 2011, more than 1.11 trillion display ads were delivered to US Internet users. With recent advancements in remarketing and behavioral targeting technology, it’s clear that display advertising is making a huge comeback. And according to Forrester’s recent US Interactive Marketing Forecast, by 2016 advertisers will spend as much on interactive marketing as they do on television advertising today. Display ads in particular will grow from $10.9 billion this year to $27.6 billion in 2016!
There are two consistent trends in mobile marketing. The first is that consumers are adopting mobile and tablets faster than marketers can adapt to. The second is that marketers announce every year that THIS is the year of mobile.
So why is all the buzz surrounding mobile based on projections rather than execution? Perhaps it boils down to the reality that this exciting and potentially profitable channel is filled with some pretty complex technical, strategic, and creative challenges.
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.