For the first time it’s been reported that more money is flowing into digital media than offline channels. As more and more “experts” tell you why you should be increasing your digital marketing budgets very few actually are talking about the primary objective of ANY marketing initiative: to drive bottom line results.
A new study has lambasted marketers’ financial skills and the marketing programs run by education providers, claiming that as many as 90% of marketers are not trained in marketing performance and ROI, partly due to the fact that nine out of 10 marketing courses don’t have a unit focused on the topic. Because of this educational void, 80% of marketers struggle to properly demonstrate the business effectiveness of their marketing spending, campaigns and activities to their top management, the report says.
POST SUMMARY: The emperor has no clothes! After years of marketing hype around social media, big data and content marketing it seems that consumers will only purchase from us if they like our products and we deliver on all aspects of the brand promise. More than ever, marketers need to view new technologies as tools which may or may not play an important part in conversion and execute on all marketing initiatives.
Rob Carpenter recently said “every couple of years there seems to a new marketing darling, innovated by big brands, that will change the face of marketing forever. Today’s belle of the ball is real-time marketing. The beginning of any marketing craze is fraught with insta-experts that rush to be a thought-leader and resource on the subject. You see this often when new technologies launch, and within days experts are already providing in-depth advice and best practices for success. What’s worse is that so called “analysts”, who are actually journalists, get up at a marketing conference to talk about the latest buzzwords without in fact actually working in marketing. Here we go again.
Has the social media “spin cycle” finally run it’s course? Now before you get your bowels in a snit hear me out. There is no doubt that social in part of our everyday online life. Everytime I mention something bad about social media the social media consultants and promoters throw back irrelevant numbers of people who use social media in my face. My position has been, and continues to be that social media, as a marketing channel, is way over-hyped simply because consumers don’t have time to engage a lot of brands and use social media mostly for news and to stay in contact with friends and family.
POST SUMMARY: Apple VP of Worldwide Marketing Communication Allison Johnson said the two most “dreaded, hated” words at Apple under Steve Jobs were “branding” and “marketing. “In Steve’s mind,” she recalls, “people associated brands with television advertising and commercials and artificial things. The most important thing was people’s relationship to the product. So any time we said ‘brand’ it was a dirty word.”
It seems that over the last few years, with the rise of social media, branding is being redefined over and over. While some brands do very well (Apple, Trek Bikes, Subaru,Starbucks) other brands are struggling to stay relevant to empowered consumers. So what does it take for a brand to stay relevant today?