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How much is
enough?
In a detailed
study with 102 regional marketing decision makers late
last year, we asked them - what is their biggest barrier? Some of the
answers surprised us.
44% of marketers mentioned a lack of ROI - And this, with the
medium where every click, impression and pathway leaves a trail.
We believe there’s some important steps marketers should go through to
optimize their investment.
1. Start with your customer - and how they
consume the media
As in all great marketing endeavours - the customer is king , and
understanding how digital works for them is critical. Microsoft,
Intel and Coca-Cola have all made important moves to this end recently
- see Coke's www.expedition206.com
as a great example.
2. Find a partner, not
a concubine
While it's tempting to test out different agencies on projects, you
will get a far better return by running a rigorous review to find a
true partner, and then leveraging their strategic talent on a long term
basis.
3. Digital is not just
a percent of media spend
The real question is not looking at your spend as a percent of media,
but rather, is your business as a core philosophy truly aligned on
digital principles? Digital is a way of life, not just a
media plan.
4. Sales is no more the metric for digital
than it is for TV
Cost Per Acquisition is no more relevant than CPRP per Sale for TV.
Again, the critical thing here is to establish the right metrics, and
build enhanced measurement tools over time.
To read the
complete article, please click here
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