The research findings are consistent: senior executives want proven ROI from marketers. This is not only the new mandate for marketers it applies to agencies as well. (78 per cent) CEOs do not trust their advertising and media agencies to create effective campaigns because they have lost faith in their ability to deliver performance-driven results, according to a report. More than three quarters (76 per cent) of chief executives feel agencies are too “inward looking” and talk too much about “creativity as the saviour” without being able to quantify the impact their work has had on business results, according to the Fournaise Marketing Group. It reveals bosses believe their advertising partners are “too quick” to take credit for results they can not prove they have had a direct impact on and are often “too opportunistic. Add it up it means the “business” of marketing has to change.
More and more I am reading that marketers are demanding more accountability from digital marketing which is ironic because there are already a lot of ways to measure everything you do online. However the Web Analytics 3.0 mind-set and strategy call for robust qualitative and quantitative analysis in your web analytics approach with specific goals: to understand the customer experience explicitly and to then influence customer behavior on your site. It also calls for people who understand online behavior and can turn online marketing into a business driver.
If the business of America is business than we are in a hell of a lot of trouble. It seems sometimes that some of the best and brightest people are the ones being shown the door while the established empty suits understand that they can get away with not performing if they make some changes ore get their names in the trade press. The amount of money companies wasted on hiring big consulting companies staffed with MBA’s whose job it is to recommend changes based on their ideal of a business is staggering sometimes. Then there are businesses who try and sell us stuff via the free whitepaper which is shallow at best. Here are 5 dumb things that businesses are doing today …
The theory that big data is bullshit coined by journalists or consultants who love to pontificate while never actually having to produce real results. It doesn’t matter where you went to school or what company you worked for, what makes a great marketing person is a keen understanding of today’s consumer along with the ability to tell a story and believe in what you’re marketing.
McCann Worldgroup EVP Vipin Mayar has contributed to a new book for digital marketers and advertisers, Digital Impact: The Two Secrets to Online Marketing Success and frankly it is the best book on digital marketing I have ever read. Take all the other books written by social media experts and throw them away because this one is a keeper. Here are the authors take on Magnetic Content. To consistently create and deliver Magnetic Content that captures consumers’ attention and engagement, you need a framework, or a set of criteria, to direct your efforts. In your initial steps toward developing the framework, look at other content and subjectively classified them into five broad rankings: Breakthrough, Excellent, Good job, Me too, and Failure.
With an estimated $2.1 trillion in spending power, moms influence 85% of all purchase decisions and buy nearly everything for everybody. Based on consumer neuroscience, a growing area for marketers looking to better understand consumers in more depth and with greater detail and precision, we know that moms and women in general use more areas of their brains to process information than men do, giving them enhanced multi-tasking, especially when it comes to shopping activities.
Macy’s reported today that sales and profit are down. The company blamed weather and increased competition for the slump. But the most disturbing reason business is declining could be the state of the average Macy’s consumer. “The consumer has not bounced back with the confidence that we were all looking for,” CEO Terry Lundgren said at the Goldman Sachs Annual Retail Conference in September.
“Mass marketing is making the same product for everyone, putting it in every store, then shouting its features and benefits to everyone. And shouting is the correct word.Your first goal in mass marketing is to be heard above the cacophony of thousands of competing messages. That’s far from what your goal should be—to generate sales and loyal customers. What’s the opposite of this noisy mass-media system of marketing? It’s to communicate directly with customers, individually, rather than blaring at them in groups. It’s to use media that permit this (and the slow and cumbersome postal system isn’t the only way). That’s the future and it’s upon us now.