Tight budgets and the lack of a clear online strategy have marketing executives concerned about losing business in the digital age. Even though companies are investing in their online marketing operations, chief marketing officers (CMOs) say there is still too big a gap between the expectations of consumers and the digital manpower they have available to deliver a satisfying online experience. Welcome to digital marketings world of hype that waste hard to come by digital dollars.
Looking at digital marketing options is like a kid in a toy store with his parents Visa card. Too many agencies are willing to step in and take your money to build whatever you want but how many actually are going to take the time to really understand your business and customers so you can drive brand objectives ?
Here is my list of some of the biggest charades broadcast to marketers…
1ne: We have to do mobile because everyone is using mobile.
Reality: While it’s true that a lot of people are accessing the Web via mobile devices 71% of eCommerce orders are with PC’s. What you should be doing is ensuring your website is optimized for mobile to provide a great online experience but if you are thinking of developing an app or mobile advertising you are probably going to see diminished returns unless you do the legwork to really understand your audience’s needs.
2wo: We need to develop a Facebook page and sponsored stories.
Reality: Less than 1% of Facebook users see your posts even if they liked your brand page and now Facebook has the chutzpah to tell marketers to invest in Facebook ads to increase reach. I’m not saying you don’t need a Facebook page, what I am saying is that of all the digital tactics available to us we there are others that can provide a higher ROI and the purpose of any marketing is to get business so we can pay the bills.
Research from the e-commerce analytics company Custora suggests that a a very small percentage of online retail sales results directly from social. Just 2% of unique purchases made from Nov. 1 and onward this year began as social posts that people clicked on, according to aggregated customer data from more than 100 U.S.-based retailers. The research is taken from 70 million online shoppers who accounted for more than $10 billion in spending in November/December of last year and November/December to date this year.
3hree: We need paid search
Reality: It depends on your product category and the characteristics of your market. Forrester, in its annual report on how consumers found websites during the past year, discovered that 54% of respondents found websites through natural search results in 2012, up from 50% in 2011. Social networks were the second-most preferred discovery resource, with 32% using them in 2012, up from 25% in 2011 and 18% in 2010.
4our: Investing in content marketing is a win-win scenario.
Reality: Yes, I do believe brands are media today but users can still access your content, use it and purchase from your competitor. Again it all comes down to an understanding of your customers and prospects and which content will drive brand objectives. Just purchasing content for content’s sake is a waste of money.
I predicted that in 2014 marketers would be getting back to basics and that included less data and more insights that drive conversion. Never ever do something because of numbers always ask “why?, How?” and “what does this mean for our brand?”
