“I know I waste half of my advertising budget, I just don’t which half.”
Marketing Measure
Truisms - you run the risk of settling your thoughts for life when you hear one that chimes for you. This one is usually attributed to Henry Ford. This is probably one of the most common ones we hear about marketing, promotion and advertising - they all mistakenly get lumped in to the same bucket by many. There’s the danger with truisms, they sometimes become lie-isms. Here’s one that stays pretty constant though…
Times do change, so welcome to the 21st century people! This is the golden age of measurement for marketers. Almost every call to action from any campaign will lead to a digital button being pressed. From a "click here" to a call on a unique 1300 number - it is no longer acceptable to waste campaign resources. Nine out of ten times, we know where someone is (to a reasonably accurate geography), when they click through from an on-line ad or an email link. We will also know if they are a returning visitor. We know how long they will spend on a page, and where they click to - or, just as importantly, when they click away. We can split test on the fly - constantly fine tuning our message to ensure the best cut through possible. We can nurture leads via automated processes that, when well thought out, tell us a bucket load about buying intentions and visitor habits. One-one marketing is here. It’s an exciting time for marketers. At last we can report back to clients with an accurate reflection of what the advertising spend is buying - and reduce the reliance on faith. Now if we could just drive more people to search for our stuff....well that's the next blog subject sorted!
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