“How Long Until My Ads Start Working?”

July 22nd, 2015

At a recent lunch with a colleague, the topic of digital advertising and the immediate nature it affords of seeing results, came up.  That was followed by a commiseration of how people (clients) have come to expect “immediacy” from all of their advertising investments whether online or via traditional means.

So, for all you “readers” (and client types) out there—here are a few things to think about when advertising your product or service…anywhere (and yes, even online).

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Revenue from Social Media? Less than 10%

July 22nd, 2015

According to a new study from Regalix, social media marketing today is largely used to build awareness and exposure, though 80% of respondents say revenue generated from social media marketing is less than 10%. However, the budget for social media marketing appears to be allocated more generously, with 28% of respondents claiming their social media spend to be between 10% and 25%.

The study spoke to senior B2B marketers to understand current trends in social media marketing and the challenges faced by them in implementing a social media strategy. The research was done globally with a fair mix of product and service companies.Key findings of B2B mobile marketing 2015 are:

  • 94% respondents choose increasing brand awareness as key objective of their social media marketing efforts
  • 93% marketers choose Twitter as the most used social media platform
  • 88 % respondents say they have integrated their social media marketing with their overall marketing program
  • 82% respondents say their organizations invest in social media marketing
  • 52% respondents say they expect their social media budget to go up in the next 12 months

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Existing Customers Spend 2/3 More, Cost 10 Times Less

June 24th, 2014

A joint study by BIA/Kelsey and Manta found that, for the first time, small businesses truly grasp the impact their customer base has on their long term business viability. The study surveyed nearly 1,000 small business owners (SBOs) and found they now spend more than half of their time and budget focused on existing customers, recognizing that it can be up to ten times more costly to acquire a new customer. Further, a repeat customer spends 67% more than a new one.

There are nearly 28 million small businesses in America, and they are making a formidable impact on the U.S. economy. Small businesses provide 55% of all jobs and account for 54% of all U.S. sales. Read the rest of this entry »

Insights From An(other) Digital Cave Dweller

June 24th, 2014

I am a social media skeptic.  There, I said it…again.  I believe it has it’s place in the marketing mix but sometimes it’s all anyone wants to talk about and honestly, I just don’t believe it warrants all the attention given it. My primary concerns are that a) the reach of social media for everyday brands is over-estimated and b) the enduring effectiveness of “old” media is under-estimated.

That’s why I always love finding someone smarter than me who agrees.  It’s the “agreeing” part that I love.  (It’s really not that hard to find people smarter than me.)

Professor Mark Ritson, in a recent column wrote about his thoughts on social media.  Here are some of the highlights.

The problem with Twitter is it’s basically clutter

“The average click-through rate for a corporate tweet is around 0.5 per cent. If only one in every 200 followers click on a hyperlink, it represents a depressing proxy for how many people actually notice your tweets in the first place. Second, given the poor general number of followers many brands have achieved on Twitter, the reality, when you multiply out this already small potential audience by 0.05, is a “whole lot of nothing.” Statistically speaking” Read the rest of this entry »

Grand Theft Auto V – Criminally Successful Marketing & What You Can Learn From It.

November 22nd, 2013

For better or worse, both of my sons are huge video gamers.  And after a recent trip away from home, I returned to be regaled with praises of how good those games looked on my new flat panel television.  But one in particular stood out.  And it stands out for other reasons as well.  Because you see,  the world’s most successful entertainment franchise is not a film, not a pop artist, not even a musical.  It’s a video game.

The launch of Grand Theft Auto-V last month was simply breathtaking.  Not because of the controversial criminal storyline or the über-realistic immersive graphics (that happened to look so great on my television), but because of its staggering sales.  With a marketing budget of around $150m, it took in over $1bn in the first three days, over half a billion of which was in the first 24hrs alone.

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