Jul 2, 2016
Aydian Dowling: International Grand Sex Symbol
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Aydian Dowling: International Grand Sex Symbol
#FeesMustFall Solidarity in London
The 5 Inbound Marketing Trends Every CMO Should Know
Did you know that some have termed “Chief Marketing Officer” (CMO) as the most dangerous title around? How do you keep up with the dynamic nature of the job in an ever shifting and evolving digital market place?
One starting point is to look at trends and not data points. Taking guidance from the words of the great Wayne Gretsky who said, “I skate to where the puck is going to be, not where it has been,” you need to move to where the market is going, not where it has been.
Trends are our best predictor of where a market is going. Here are 5 key marketing trends on where you are heading as a CMO based upon HubSpot’s report, “State of Inbound 2015.” These insights are the result of surveying nearly 4,000 marketing and sales professionals in 150 countries, primarily in the SMB market.
Trend # 1: Inbound marketing continues to surge in popularity and effectiveness over outbound marketing.
This trend has occurred over the last few years; however, only now is it more predictable. 75% of companies selected inbound marketing to be their preferred marketing approach vs. 25% who preferred outbound marketing. Survey respondents across industries, including B2B, B2C and Nonprofit organizations, agree with this preferred approach.
Paid advertising is ranked as the #1 most overrated marketing tactic. In fact, this was the primary response from companies favoring outbound marketing strategies. Under certain circumstances, it might be a good option to consider outbound marketing. If you have extra marketing dollars to burn, throw some at outbound marketing. Even if you do so, you must have an effective inbound marketing strategy to implement in order to effectively grow future company revenue.
Most of you reading this article understand this thought process and are already moving in that direction. If not, you need to take action quickly and move in that direction.
Trend #2: More marketers are using outside resources to help write compelling content that feeds the marketing engine for lead generation efforts.
Inbound marketing requires consistent creation of compelling content that your ideal buyers seek throughout their evaluation journey, or buying cycle. It needs to be created in a variety of forms and delivered through different marketing channels. In addition, your content must be high-quality.
39% of companies use outside sources to write their content. That’s because it is very difficult to produce the volume and quality of content in the different formats needed and promote it through key marketing channels using only internal resources. The top outside resources used for content writing are guest writers, freelancers, agency partners, writing panels and curation.
Trend #3: Leading marketers with the highest marketing ROI continue to invest in marketing automation software and have more involvement in sales software decisions.
How can you know if you have a positive marketing ROI if you are not tracking it? Marketing automation software allows you to track your marketing ROI so you can make informed marketing and sales decisions on what is working and what is not working.
In the past, CMOs have had to cobble together their website content management system (CMS), blog software, social media publishing and monitoring software, email marketing software, analytics software, CRM software… and still not have everything needed to make smart decisions.
None of these software programs are designed to talk to each other or share data. They are software silos of the past. While you get data from each silo, there is no actionable intelligence on what’s working or not, much less any information on your marketing ROI.
It’s time to consider a more effective platform that delivers most, if not all, of these capabilities for you.
Many CMOs understand this now. In fact, proving the ROI of marketing activities is the top marketing challenge year after year for CMOs. According to the 2015 Chief Marketing Officer Exchange for Middle Market, 84% of CMOs will be investing in marketing measurement, accountability and ROI in the next 24 months. 57% will be investing in the next 6 months.
Trend #4: The emergence of integrating marketing and sales teams into a Revenue Team.
We are quickly moving away from the “throw it over the wall to sales” approach. It’s losing its effectiveness and something needs to change – quickly.
According to the HubSpot report, the top two challenges for the sales team are closing more deals and improving the efficiency of the sales funnel. Overcoming both of these challenges is heavily dependent upon the volume and quality of the leads generated through the marketing channel.
In the same report, the top two priorities identified by companies are converting contacts/leads into customers and increasing the total number of contacts/leads. CMOs play a key role in both of these priorities.
While marketing may not be closing deals or “selling” directly to clients, they must develop a strategy and plan that is implemented effectively to help maximize the opportunities for the sales team. That’s because the sales team is no longer in control of the sales process – the buyer is in control.
The buyer will use online marketing channels including search, social media and email to research their options before they decide who to contact. The Google ZMOT study reveals that the average buyer consumes 11 pieces of content before they decide who they are going to contact.
Do you know what those 11 pieces of content are for your ideal buyer? If so, are you providing it to them right now through their preferred marketing channel?
Marketing has to deliver the compelling content your ideal buyer seeks throughout their evaluation/buyer’s journey in order to be in the game.
In addition, most companies’ marketing and sales departments operate with no set rules. Each team has its own ideas and expectations for how things should work, and typically they are vastly different from each point of view.
However, a service level agreement (SLA) changes that.
An SLA is an internal contract between the two departments that aligns their goals and identifies their agreed-upon expectations. These are goals and key performance indicators (KPIs) that can be tracked and measured. The SLA typically outlines how each department will define, measure and engage with marketing-qualified leads.
Companies that have a service level agreement between the marketing and sales departments have one of the highest return on investments (ROI) for the company.
Trend #5: The emergence of the New Best Practices model for CMOs who want the highest ROI on marketing dollars.
The top performing CMOs with the greatest ROI commonly do these 5 things:
Focus on Inbound Marketing – Inbound marketing achieves a higher ROI than outbound marketing regardless of company size or total marketing budget. This includes resisting the allure of paid advertising.
Track Marketing ROI – Best-in-class marketers invest in marketing automation software and marketing methodologies to track, report, and optimize ROI. They prove its effectiveness in increasing leads and sales every year and they secure the budget they need as a result.
Secure budget increases through successful inbound marketing results – Past success with inbound marketing is the single biggest factor that drives budget increases for marketers.
Use both internal and external resources for writing content – Typically a CMO does not have the ability or resources to produce the volume of compelling content needed to drive inbound traffic, convert that traffic to leads, and nurture those leads until they are sales-ready opportunities for your sales team.
Check your marketing analytics at least 3 times per week –You need the capability to track your marketing efforts to recognize what’s working and what’s not working. You cannot wait until the end of the month to find out what happened. But, you also need to be receiving actionable intelligence, not just volumes of data.
CMOs have a very hard job in an ever-changing digital market place. Don’t continue to remain where the market has been. Move to where the market is going.
Get more details on what you need to do by downloading this free-research report on the “State of Inbound 2015” by HubSpot.
This article was syndicated from Business 2 Community: The 5 Inbound Marketing Trends Every CMO Should Know
More Sales & Marketing articles from Business 2 Community:
Business Marketing Online: Strategies for Retail or Real Estate
Why Your Small Business Needs an Inbound Marketing Strategy, Like Yesterday
Stop Focusing on SEO & Pay Attention to This Instead
Goal-Directed Marketing: How Marketers Can Help Buyers Achieve Their Goals
Time To Rethink Content Marketing Approach
Author Scott Lambert
Type article
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LinkedIn Apps Keep You Connected
Everyone loves a great app, right? We often ask for app recommendations and share the apps that make our online experience (and sometimes even our life) just a bit easier to manage.
LinkedIn’s app comes up in so many conversations and I find that people either love it or they don’t. Some even use the app as their main way to interact on LinkedIn. This is also why many people we talk to don’t realize that LinkedIn on your desktop has so much more power and options to engage.
LinkedIn continues to add to their app portfolio. Each serves a specific purpose, keeps you focused and takes only minutes to navigate. Over the next two posts I’m going to cover LinkedIn’s suite of apps and share observations and tips.
Many people have mentioned that they are frustrated with LinkedIn’s apps because they are so different from the experience on LinkedIn on their desktop/laptop. Please remember that very few, if any, apps represent the actual platform. Apps are light versions, it’s really their intent. LinkedIn’s individual apps, or channels if you will, may help to ease the frustration. The general LinkedIn app has a lot going on. LinkedIn’s single focus apps help members to focus on one need and manages expectations.
If you are going to work on your Profile, export Connections, guarantee you’re going to personalize your invitations and really use the new Inbox, then you DON’T want to use the app.
They each serve a purpose. Let’s look at what you can do with each one that may enhance your LinkedIn experience. In fact, I think you may be able to master LinkedIn more confidently if you consider the apps a way to create good LinkedIn activity and habits. (Want to read more on habits? Read JamesClear.com, a great blogger who really focuses on habit building).
If you are new to LinkedIn, I recommend getting comfortable with LinkedIn on your desktop (laptop) first. Their apps are designed to do particular functions and does not give you the access you need to see the full potential of how you can leverage LinkedIn.
Let’s look at how you can increase your LinkedIn activity, get more views and know more about who and what is happening in your network.
LinkedIn for Mobile Phone
Remember, it’s not LinkedIn in full, but it does allow you to catch up, be in the know and even check someone’s profile on your way into a mee. (Note: Remember, people enjoy looking at who’s viewed their profile so if you are headed into a meeting try to look at them the day before, if possible).
12 Ways to Use the LinkedIn App
Log in and click on the LinkedIn logo. In the top left corner, notice the list of options:
Home: This will show you what your network is liking, posting, sharing and commenting on. Pay attention to this and when appropriate, like, comment, and share your Connections’ content.
Your Name will show your Profile and will even let you edit your profile. Unless you have a quick edit or are very proficient with your phone or your Ipad, we do not recommend editing here. Additionally, you can take a look at “Who’s Viewed Your Profile” and your own “Recent Activity.”
Companies will show you the Companies you are following. (You are following companies, right?) If you want to be up-to-date, follow your clients’ and prospects’ companies. If they are posting jobs and content, you will see it quickly. You will also see similar companies which could be a sales lead or potential job opportunity.
Connections will show you your network in alphabetical order. If you click on a Connection’s profile, you can check their Profile or message them. You will also see some “People You May Know” at the top of the screen.
People You May Know will show you a more complete list of potential Connections. Remember, I think it’s important to invite people with a personalized invitation, not just the default. You can personalize your invitation to Connect from the iPhone (but not an iPad) by going to someone’s Profile and clicking on the three dots next to the Search bar at the top. When you do that, a popup will appear to let you customize your invite or forward the Profile. Personalize 99.9% of the time. Context is crucial.
Jobs will show those jobs you have saved or applied for. Organization is key when you are in a job search. Use LinkedIn to help you out.
Pulse is all the content that is trending and gives you an idea of what people on LinkedIn are interested in. If you have clients, prospects, movers and shakers posting content, don’t forget to pay attention and comment, like or share it.
Groups will provide a quick look at what’s happening in some of your Groups.
Your Recent Activity shows how you’ve participated on LinkedIn. The more you engage, the more opportunity you can create. If you don’t have much activity in this area, I suggest focusing on that in the upcoming weeks. Be active and show your expertise.
Who’s Viewed Your Profile shows you who’s viewed you and how you rank among your Connections. A long play is to be an influencer in your network. Who are the connectors in your network?
Add a Shortcut: This feature may suggest Groups You May Like, which can be beneficial. You can join up to 50 Groups. Groups help you gain access to other members without Connecting to them. (At least initially).
Settings is not nearly as robust as it is in the desktop version. I’m particular about reviewing and knowing your Settings; it’s so important and shapes your LinkedIn experience. On this app, you can sync your Connections (be careful with this). You can also Download your Connections to your iPhone Address Book. If you have a large network I would not recommend this. It will just make your iPhone Address Book unwieldy.
If you are headed to a meeting or an interview and receive an email saying a couple of other people are joining in the meeting, you can use the LinkedIn app to look at their Profiles. Look for common Connections, common ground, school connections, similar Groups or Volunteer Experience. Check out what’s happening in their company, as well. Knowledge is a powerful thing.
LinkedIn for iPad
The iPad app is similar to the iPhone app. One of the main differences is simply the orientation and obviously, the screen size. Most folks are going to view their iPhone app in a portrait view and, on their iPad, in a landscape view. Don’t let this throw you off.
You are not going to be able to edit your LinkedIn profile from the iPad app. If you want to work on your profile, go to Safari and type in www.linkedin.com and it will prompt you to log in to the app. Make sure you click the x in the top right corner which should then allow you to log in to the full (desktop) version of LinkedIn.
If this does not work you may want to clear your viewing history and try again.
Stay tuned for Part 2 of this post, where we will dive into each of the specific LinkedIn apps including Connected, Job Search, Pulse, Sales Navigator, SlideShare, and Recruiter. Until then, think about whether LinkedIn’s app will help you engage better on LinkedIn.
Source: Photo images from LinkedIn
This article was syndicated from Business 2 Community: LinkedIn Apps Keep You Connected
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Longform or Shortform? How to Decide on the Right Format of Content
There are many long-winded, passionate debates that go on within the marketing world. As is natural in online debate, they tend to lose in nuance what they gain in vocal members of each opposing camp.
One of these debates that has become very in vogue recently is the question of longform or shortform content?
For the (luckily) uninitiated, the debate is whether longer more in-depth content is better or shorter more bite-sized content is more worthy of your marketing efforts.
Opinions abound on this topic, and it’s frustrating just how many of them arrive at conclusions that are less than satisfactory.
The two main pitfalls in breaking down this debate are that people recommend one over the other definitively, or they only evaluate the utility of either in a very narrow context.
The purpose of this piece is to show that longform and shortform content are equally valuable, and the utility of either is maximized when you know where, when and how to use each.
Enjoy the SlideShare version of this article.
The Consumer Decision Journey
Counter to the traditional funnel approach to viewing marketing, David Edelman instead proposed a circular process with a few key departures from the “whittle-down” methodology of traditional marketing called the Consumer Decision Journey.
The most important takeaway is that audiences actively evaluate and add or subtract potential sellers from their decision-making as they progress throughout the buying cycle.
In addition, the modern, millennial consumer is much savvier than their mid-century equivalent. Given the access to information and the heightened degree of competition amongst sellers, this evaluation process can be deep and can occur in multiple phases over long periods of time.
These multiple phases of brand discovery and consideration are what truly matter when it comes to deciding on content length and depth.
Customers might begin by first getting acquainted with a series of brands. In this case, engaging, shortform content will likely work best to draw in the curious and uninitiated.
Whereas shorter, more socially-optimized content can be a powerful tool for gaining inclusion within a customer’s “initial consideration set,” it will likely fall short of helping you stand out within the active evaluation process.
Roughly speaking the top half of the consumer decision journey will be best suited towards longform content, while the bottom half will be more suited for shortform.
This will certainly vary by industry though. In-depth content will factor much more strongly for a B2B’s audience, while shortform content will likely be better suited to addressing impulse-buy items such as snack-food or toys for a B2C organization.
Knowing your industry will allow you to change the below diagram as you see fit, but what I am attempting to do here is give you a rough sense of what the middle of the road industry might look like.
Having in mind what your content’s ultimate goal will be can give a big clue as to where it falls on this consumer decision journey. Once you understand where it falls, you can start to have a pretty strong indication of whether or not it would do best as longform or shortform content.
Platform Sensitive Content
In addition to taking the phases of consumer decision journey into account when deciding on shortform or longform content, platform appropriateness is also a crucial consideration.
One trend that has been gaining more and more traction within the content marketing industry is direct-to-platform publishing.
Tailoring your content to each individual platform is now absolutely critical (although many will argue that this has always been the case), and every platform will require content of differing lengths and objectives.
These additional considerations can be paired with your understanding of where in the consumer decision journey you want your content to fall to further help you decide on whether you should pursue longform or shortform content.
In a previous article, I developed an idea I called the “Social Longevity Spectrum.”
This diagram I created shows roughly how long a social post will last, and I’d argue that this factor pretty closely maps to the correct distribution of long/shortform content.
Since that article was published, I would say that LinkedIn and Medium have become serious contenders that would occupy space to the right of Google+ (which has become less of a factor). Although the specifics might have changed the key takeaways remain roughly the same.
For example, Twitter requires ultra-shortform engaging content in high volume, whereas (on the other end of the spectrum) LinkedIn Pulse requires in-depth longform content intended to educate and is much more evergreen.
Lining these factors up alongside where each piece of content will fall within the customer decision journey can provide a great deal of initial direction on not just whether the length of content, but what the specific objective of each piece should be and where they all fall within a broader plan.
Connecting the Content Dots
A third flaw of the traditional approach to the “longform or shortform?” question is the implied notion that these pieces of content live in isolation.
Because I am arguing that both are equally valuable, and that this value is highly dependent on their situation within a broader context; the necessary conclusion is that all of these forms of content need to be linked.
Beginning with the consumer decision journey as a blank slate, pair specific channels to each section depending on which marketing channels your brand invests in.
After you have mapped different platforms to your customer’s journey, the next crucial step is to map out what each piece of platform-appropriate content will look like and how it will nudge the consumer along to the next phase of the journey.
For example, if you have a shortform piece of content meant to insert your brand into a consumer’s “initial consideration set”, this piece of content should be optimized to quickly and efficiently move that customer along to a piece of longform content that helps to better facilitate the “active evaluation phase.”
Although it is very difficult to tell if successful brands are using this approach outright, many cohesive, well-executed marketing strategies map pretty well to the formula I have outlined so far.
One such brand that does this well is the endlessly savvy and sharp folks over at Jack Erwin, a men’s shoe company. Their marketing strategy and content mix are exactly what I am referring to.
Beginning at the top left, they begin by using strong shortform Facebook content (in the form of sponsored posts) to act as the trigger and then follow up with retargeting to enter into the initial consideration set. Shortform copy and photography is exactly what fits into our model of the beginning of the consumer decision journey.
They then seamlessly ramp up into their own self-produced longform content which takes the form of well-written copy, video and additional product photography. This effort is further supported by longform affiliate content that ranks high for relevant keywords.
Post-purchase is further supported by the same social channels as well as a solid email campaign. All of which is meant to edge a consumer along towards ongoing brand loyalty.
Even though this content mix is fairly diverse (photos, video, copy, articles, social posts etc.) it all seems obvious and inevitable. That’s because all the while, the consumer decision journey was (either consciously or unconsciously) taken into account.
Variety Keeps People Coming Back
A much less technical argument for organically mixing longform and shortform content is that relying too heavily on either makes your brand dull and might alienate customers.
The last bit of the Consumer Decision Journey I haven’t yet mentioned is the possibility of nudging users into a “loyalty loop” where they no longer re-consider new brands before each purchase (within a specific product category) and stick to your brand for all similar future purchases.
Fostering this kind of positive feedback loop requires an ongoing relationship that feels natural.
Focusing on building content that is appropriate for each channel, sticking to best practices, aligning messaging with your brand and being generous will all ensure that you maintain a healthy and natural mix of long and shortform content.
Just think about how much easier Jack Erwin’s job is after combining multiple content types along a coherent and organized consumer decision journey.
Instead of potential customers receiving a scattershot slew of messages (any of which might rub them the wrong way), they are instead carried along a seamless and inviting series of quality content.
This makes winning loyalty less of a daunting proposition. That’s because over the course of this entire process they have earned that loyalty.
The Long and Short of it
The key takeaway of this article is to not look at the question of “longform or shortform?” as a black-and-white question, it’s far more ambiguous than that.
The approach one should take when deciding on the right format of content: • Decide which phase of the Consumer Decision Journey you are targeting. • Choose what platform will best fit the content type and need you’re addressing. • Link each piece of content to the next phase of content in the Consumer Decision journey. • Use a healthy mix of long and shortform content to facilitate strong customer relationships and brand loyalty.
This article was syndicated from Business 2 Community: Longform or Shortform? How to Decide on the Right Format of Content
More Sales & Marketing articles from Business 2 Community:
Business Marketing Online: Strategies for Retail or Real Estate
Why Your Small Business Needs an Inbound Marketing Strategy, Like Yesterday
Stop Focusing on SEO & Pay Attention to This Instead
Goal-Directed Marketing: How Marketers Can Help Buyers Achieve Their Goals
Time To Rethink Content Marketing Approach
Author Brian Honigman
Type article
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And… You Suddenly Became a SUPERSTAR. What Next!
You had no expectations.
You just started your business.
You were hoping it would take off.
But, not so suddenly!
So now what?
As a start up, you have so many other things to worry about. Getting investors, managing day-to-day operations, dealing with production and management issues. Then there is marketing… and now social media has made you a Superstar before you had time to blink.
With all that you have to do just to get through the day how on earth are you going to manage this?
This is not the first time we have heard this “complaint” at our office. Many times, companies come in with a new brand and they usually don’t know what to expect from social media. They hear of viral campaigns and they hope theirs will be the one. This does not happen often. But, when it does, it can be overwhelming.
Next steps. Examining the tasks ahead.
First, create a management strategy that outlines all the objectives. A hard look at priorities is in order to keep organized. Social media has many moving parts and important pieces can fall through the cracks.
Managing the fan-base.
When there is an onslaught of activity on your social channels, you have to address it in a timely fashion. But, we can’t all work all day and night 24/7. Watch your social media channels to get an idea of how your followers interact with your brand. So we start by thinking about our fans. The first thing to look at is what are a follower’s needs? What makes them tick and what do they like about the brand? This brings me to the next section.
Create the right content to encourage continued interest.
If it’s a particular food or image that got their attention, then we create more images that impact in the same.
For example, we launched a new vegan product for a client that was well received. This viral activity led us to create a contest. Users would cook their own pizza using the product and share via Instagram or Facebook. This again got viral of engagement as fans “ate up” the contest!
As a general rule, I am only a fan of contests when they are on topic. However, it’s best to test out a few simple posts to see if there is any engagement before taking the time to create a work intensive contest.
Answering customer service questions via social media.
Often customer queries can create a viral traffic stream. It could be anything from a simple question about the product or the availability in their area. We personally acknowledge all posts. Then a general more in-depth answer is written and posted for all followers. Emoticons and stickers are also good means to show appreciation keep the conversation lively.
Chats and other forms of communication.
Twitter is an excellent platform to engage consumers. I follow the hashtag #custserv on Twitter for more feedback from a general audience. This enables me to check sentiment from customers. This feedback is also a goldmine of information and is helpful in understanding general needs. Other forms of communications that we analyze include email, Facebook comments, and Twitter chats.
Don’t forget to say “Thank you”:
Your social media presence has made you a mini celebrity. The biggest takeaway in my opinion is to acknowledge your fabulous friends and followers. We are big advocates of giveback programs and re-posts from fans (with their permission).
When a die-hard fan spends lots of time interacting and engaging with the brand, we usually encourage our clients to write personal notes to thank them. Product swag is also a great idea to send them, plus it’s free advertising.
Final thoughts
This new era of social marketing gives many a small business an opportunity to get noticed, make an impact and promote products and services. Brand ambassadors, bloggers, active social media channels and a good marketing strategy to tie it all together will get you lasting coverage and increased brand awareness to drive sales. It’s a shame not to take advantage of it.
This article was syndicated from Business 2 Community: And… You Suddenly Became a SUPERSTAR. What Next!
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Author Janette Speyer
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The Emoji Infographic: Stats to Back Up Your Obsession
A couple of years ago, emojis were the exclusive language of teenage girls. Today, everyone’s using them.
… everyone.
A new study from Emogi, “a real-time emotional intelligence platform that decodes sentiment,” brings new statistics about emojis to back up your obsession. Their first surprising discovery is that almost everyone uses emojis:
4% mobile users use emojis several times a day
5%: several times a week
9%: several times a month
5%: several times a year
6%: once a year or less
While emojis used to be predominantly texted and Tweeted by teens, today there are more 25-29-Year-Olds identifying as “frequent users” (75.9%) than Under-25-Year-Olds (72.2%). More than six out of 10 in the age 35+ crowd self-identify as frequent users.
Why Do We Love Emojis? Frequent users tell us that it’s because they feel emojis express their feelings more accurately than words. This statement was accepted by 84% of female frequent users and 75% of male frequent users.
Dr. Owen Churches, a psychologist who has studied the uses and effects of emojis, found that “people reacted to emoticons the same way they would react to a real human face,” reports Mashable. Over time, as our brains become accustomed to perceiving a symbol as “happy,” “sad,” or “excited,” we gain an ability to actually feel the same emotion that we would feel by looking at a real face. Emojis give us the unique ability to make digital communications feel and act more human.
Brands Are Turning to Emojis… With their recent Grand Prix win at Cannes, Dominos is the standout example of brands turning to emojis. Dominos built a system that allows users to text a pizza emoji and place their regular delivery order. (The company’s ‘Anyware’ platform allows users to order via their TV, voice command, car, smart watch, or Twitter – in addition to text.)
Emojis are trendy, and they probably won’t be going away anytime soon. Should brands use them? Sure. They offer a great way to connect with your audience. More importantly – emojis remind us about something even bigger: people are constantly looking for better, more human ways to connect with each other digitally. Brands that can streamline that experience will win.
Emoji Statistics Infographic Check out the full infographic below, then tell us in the comments what you like – or don’t like – about emojis. Will you use them professionally with your brand?
This article was syndicated from Business 2 Community: The Emoji Infographic: Stats to Back Up Your Obsession
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Are CMOs Putting Too Many Eggs in One Media Basket?
According to recent research, U.S. digital advertising revenues rose 16% last year, and the trend indicates another double-digit percentage rise this year as well. As the economy improves and marketing budgets increase, the dollars are flowing disproportionately to online ads.
Marketers last year spent $19 billion on search advertising, $7 billion on social media ads, and almost $4 billion on display (primarily banner ads).
But are these increases the best way for CMOs to spend (still hard-earned) marketing dollars? Or would a different allocation across channels contribute more to long-term brand success? And how can CMOs make such decisions?
There are several reasons for CMOs to take a hard look at digital advertising, particularly non-search ads, in the coming year.
First, as the IAB research also notes, increased competition for limited ad space has led to “higher prices in the cost per click for ads.” More bucks will be required to get the same bang.
Second, ad blocking software is a growing concern. A quarter of all Internet users, and 41% of millennials, now use ad-blocking browser plugins. That’s a lot of eyeballs not seeing ads.
Third, and most importantly, spending on digital advertising needs to be balanced against other channels, as paid presence is just one pillar of a paid-owned-earned-shared media strategy–and not always the best for achieving long-term brand objectives.
Image credit: Pear Analytics
As noted here previously, the KPIs most important to CMOs fall into three groups: brand, competitive, and website performance measures.
Digital advertising can increase brand awareness, but must be created and targeted very carefully to have a chance of improving brand preference. Ads viewed as stalking or annoying (a significant concern, given the growing use of ad blockers noted above) can actually reduce brand preference.
Online ads can improve webshare (the competitive share of a brand’s web presence within a product/service category)—but it’s an expensive way to do so. And they can actually decrease website engagement, as ad landing pages often have high bounce rates.
None of this is to suggest brands should spend less on digital advertising, or even necessarily that they shouldn’t spend more. But CMOs do need to focus on the most revealing, future-looking KPIs in order to make the optimal decisions for their specific circumstances.
This article was syndicated from Business 2 Community: Are CMOs Putting Too Many Eggs in One Media Basket?
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Business Marketing Online: Strategies for Retail or Real Estate
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Time To Rethink Content Marketing Approach
Author Tom Pick
Type article
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