Love the fact that Google put together a value equation that allows its customers to use predictive analysis and GAAP accounting principles to demonstrate ROI for online marketing. Finally! It just makes sense to document and demonstrate the marketing ROI for continued investments.
We should also note – of course Google would put together the resources to consolidate a methodology that determines the negative effects on your online traffic when online advertising is paused and traffic to your website is solely dependent on your organic rankings.
Click here to view Google’s study.
Those of us wielding the precious marketing budgets of private companies for a career know that nothing that comes easy or cheap is repeatable or sustainable for long.
But, these opportunities do arise. Just like insider information in the stock market. And when they do the windows are closed within weeks or months due to human nature. If it is easy and cheap everyone will do it. And if everyone does it, then it becomes commoditizing in the eyes of marketing prospects when we are talking about brand, service or product marketing. And there are many companies that have found themselves chasing fleeting opportunities.
This phenomenon reminds me of a very simple, but profound, quote from a Stephen Covey, “The main thing is to keep the main thing the main thing.” And what is the main thing in marketing? Wait for it… ROI?
This is the question that must be answered every single day, week and month around the marketing table. How much did I invest to get back how much? It is that simple. The new tools and the new methodology to answer this question in real time exist. The best practices are being re-proven every day. Leaders have been deploying the new methodology for 5 years and running.
The complex part comes into play when we get into the variables for the “how.” In a sea of consumer alternatives for marketing prospects people must make a decision to go with one company over another. This decision, when it comes to the wheels of commerce, cannot come down to a chance pick by a consumer. The most efficient way to NOT leave your marketing ROI to the whims of chance is to create differentiation from the sea of competitors in a way that influences prospects to choose your brand, product or service over the others.
Therefore, going full circle in this discussion, we can see why the easy, cheap solutions leave a marketer to chance. And even if a vein is hit by chance, the window closes so quick due to commoditization. All of a sudden marketing activity success emulates a stock broker trying to predict the ups and downs of the stock market.
In the world of marketing with squishy or no meaningful ROI numbers, one good marketing investment provides a cover fog for years of consecutive and incremental loses. After decades of managing the precious marketing assets of our clients, we know this is no way to pilot a company’s future, nor sleep at night.
All of us in the marketing industry must strive to provide ROI on each piece of the marketing funnel, its independent tactical ROI and its aggregate marketing ROI. Only when each piece of an integrated funnel is measured in real time and reported on in aggregated dashboards can we even begin to think in these terms.
Then we must go to work as marketers. We must do what has been trusted to us. We must supply to the leadership of our organizations the REAL metrics, meaningful metrics that are not just counting the chickens once they left the coop. We as professional marketers must harness all of these new and emerging communications technologies to help us corral the prospective ROI of each and every dollar invested into our marketing strategies.
Nice work Google. Keep it up. It’s another piece of the puzzle our customers need and it’s nice to see a company like Google helping those of us on the front lines everyday deliver the ROI research and metrics for online marketing and advertising. The industry needs more hard science like this and less hot air!
View the full article, “Savvy Print Providers Help Colleges Reach Potential Students with a Personal Touch”, on Marketing Powers Activate!: http://marketingpowersactivate.com/2010/08/savvy-print-providers-help-colleges-reach-potential-students-with-a-personal-touch/
Excellent post on multimedia personalized communications, Shelley!
If I may, I’d like to add my perspective as a former printing company owner and the principal of a leading integrated marketing firm in the Southwest that is deeply committed to the future of one-to-one, cross-channel, personally-relevant marketing. In addition, our firm has a decade-long track record of success in targeting, reaching and communicating effectively with college-bound students. I think it’s important for the new technology early-adopters in the printing community to understand how partnering with the right strategic marketing firm can deliver tremendous benefits:
Improved results for printers and their clients
• Increased, Faster ROI from technology investments
• Increased efficiency through automation
• Progress from just “personalized” to hyper-relevant, real-time interactive, ROI-driven neuromarketing communications
In my new book, Neuromarketology: Harness Converging Technologies and Diverging Audiences to Create Dynamic One-to-One Marketing and Astonishing ROI, we introduce a new methodology of dynamic marketing called, Neuromarketology™. It is the study of reactions driven from the core brain based on the exposure to specific neuromarketing messages, imagery, and timing. It’s the science of knowing the emotional connection points for each of your target audience’s individual members and applying the methodology of configuring your marketing messages to connect your brand attributes with each target audience member in the most relevant manner for that specific target. It’s highly precise, dynamically-driven target segmentation that allows your clients to address every customer and prospect individually and relevantly — not just as a part of a large-slice demographic segment – in a fully-automated, end-to-end production and distribution system.
When deploying this new methodology, we use “brand mapping” to pinpoint those brand attributes that viscerally move the mind of your individual consumers across a range of segments, on a legitimate, one-to-one basis. Once you make this paradigm shift, the methodology that cascades from Neuromarketology enables ongoing communication through a dynamic one-to-one dialogue with target customers in the place and manner of their choosing.
Whether it’s a print piece for a senior at home, a text message to a teenager, or a robust online offer for a Baby Boomer, the point is, they pick the brand attributes, time, and channel through which they most want to interact.
Now, integrate the multiple marketing channels available today from TV’s new interactive capability, social networking, interactive online portals, the proliferation of interactive, real-time, connected personal communication devices, and beyond. These are amazing two-way dialogue platforms through which a client’s brand can directly interact with individual consumers. You can leverage all these media including Facebook, blogs, offline event communities, and whatever media channel is coming next, to carry dynamic, database-driven communications directly to each recipient in a client’s dynamically segmented audiences the way they want to receive them.
Neuromarketology will show printers how to align classical branding strategies with current conditions in order to maximize every facet of your client’s brand. You also learn how to leverage emerging technologies, including database, dialogue, and personalized variable capabilities, to achieve true one to one communications. And learn to deploy in all existing and emerging communication channels to create ultra-personalized relevancy. Based on first-hand experience at the leading edge of the industry, this book provides a clear perspective on the new neuromarketing landscape and step-by-step guidance on leveraging its unique opportunities.
To review a comprehensive case study of a college recruiting campaign employing this new technology, please visit www.FabComLive.com. Once you enter the site, click on “Brain Food” at the top right of the page and then select “Building the Alpha Geek Nation.”
As a former leading printing company owner, and now piloting a leading integrated marketing agency specializing in variable content development and dynamic sales funnel creation, I would be happy to answer any questions about Neuromarketology and how it can dramatically improve your results and Return-on-Investment for cross-channel, cross-media, variable marketing. Just email me at firstname.lastname@example.org.
7819 E. Greenway Rd. – Suite 5
Scottsdale, AZ 85260