April 6, 2014 1:21 pm
While the digital age has changed the rules of marketing, a panel of experts at the recent Wharton Marketing Conference… more>>
Perhaps the biggest challenge to any interactive marketing manager is trying to get the budget dollars to execute a great digital marketing strategy. Even when you can prove a positive ROI digital manager’s are often told that there is no more money to expand digital marketing tactics or provide a great online brand experience.
Even though data clearly shows that digital marketing is effective and that consumers are flocking to the web in droves digital marketers often are told that they can’t have more dollars because “the budget is the budget”. I recently heard a story of an interactive manager who proved positive ROI with a mobile campaign only to be told that there were no more budget dollars to do more. In essence her manager was telling her that “I don’t believe your ROI and I want to invest dollars on other media”.
Here are the 10 reasons that digital is still under funded:
1ne: The perception that digital marketing is less expensive than other marketing channels. This is not true in most cases, especially if you want to do it right.
2wo: Executives within your organization do not believe in digital marketing despite all the data. They may talk about digital but to them it’s just having a website and doing some SEM.
3hree: They are too close to their ad agency who pushes them towards mass media channels.
4our: They don’t believe your ROI analysis. They may say things like “great job” but when they fail to give you dollars to do more they are saying “I don’t want anymore customers”.
5ive: Organizational influencers are working behind the scenes to undermine digital marketing.
6ix: Your digital agency is charging you a lot of money. Too many big agencies are too damn expensive and their goal is simply to get you to sign off on new proposals. When you do an ROI analysis you need to integrate agency fees and if that leads to a negative ROI you have a problem. Also beware of agencies that have people who have never worked in a marketing org or have actually done it.
7even: They want to be marketing stars and are in love with TV. Just look at those repetitive Geico and Progressive commercials for proof that it’s still happening.
8ight: To them digital is just a website and they won’t fund a great online brand experience.
9ine: They don’ understand digital marketing complexity.
10en: All they want in an analytics dashboard is numbers such as website visitors. To them marketing is just a numbers business.
You would think, today, that digital marketing would be finally coming into it’s own with dollars and staff but a lot of interactive marketers are still fighting for budget dollars even when they prove digital marketing works. This in turn leads to a high level of frustration and brands loosing talented marketing people. Either they get it or their competitors will force them to get it.