Marketing is no Longer Business as Usual in the Digital Age

As marketers it is important to understand that Return On Investment (ROI) is not the ‘Holy Grail’ of determining the success of business goals. In a recent study published in Forbes.com, ROI is not what matters most in the business clime today. It seems that more and more companies are finding more success engaging in customer acquisition (42% of respondents) and continued customer service (36% of surveyed respondents) or maintaining happy customers. Big corporations are obviously putting more money here compared to companies who still focus on ROI as their gauge of success — which only registered 21% score.

Are you turning or straying?

Are you turning or straying?

The study is also saying that more and more business owners appreciate the purpose by which marketing is being conducted now unlike yesteryears where ROI is the main criteria for successful campaigns. Why the different trend? Competition. The market is now facing more choices and companies offering similar services will be against other businesses, which will compete for attention and retention of customers’ loyalty. You can say that customer preferences have become more complex given the amount of information where buyers compare brands and search for reviews on the Internet. This is especially true when our region in Southeast Asia will integrate and tariffs removed creating a huge outflow of companies competing for attention in a region of 600 Million citizens.

How can your company survive in such a climate? By studying data streams that can produce insights — data streams that Analytics will form to create information, which translates to a richer understanding of your market. Before, it used to be beneficial to reach millions of eyeballs to create brand awareness knowing after that a few can help your brand grow further. These few are called brand evangelists or to some, Super Fans, who has the ability to influence more customers and use their network of influence that can boost more awareness, more parity, and perhaps even more sales for the brand.

Business Owners, CMOs, Brand Managers, and those in-charge of communications should appreciate the importance of Analytics so metrics can be formulated to produce Key Performance Indicators (KPis) that will measure performance of online marketing efforts.  From Banner Ads, to Mobile Apps, to Search Engine Marketing, to Google AdWords, to Social Media — each one can be used to reach your desired market and potentially reach ROI.

The time to appreciate Marketing in this digital age is now. Businesses need to realize that being part of the trend to keep customers happy is more important than catching the trend after. I cannot emphasize enough the veracity of creating frameworks that will churn more customers in the process. Contact points consumers use today is evidently no longer exclusive to Television, Radio, and Print. Customers are now using Smartphones and Tablets — and soon Internet Television, Google Glasses, and others — as mediums where each one can carry your brand’s message through different touchpoints such as Social Networks, Search Engine Marketing, AdWords, Banner Ads, and Email Marketing to name a few.

Waste not. Register and join today.

Waste not. Register and join today.

So it is true today that the success of a brand to remain profitable in the future is hinged in using the right channels, which stems from analyzing mined data that we need to gather today in order for businesses to survive tomorrow.

I invite you to join the 7th Internet and Mobile Marketing Association of The Philippines (IMMAP) Summit this coming Thursday, 29th and Friday, 30th of August to take part in a conference where further discussions will center on Return on Investment (ROI) in this age of Digital Marketing. Register here for more details.

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Return On Investment: The Digital Age Challenge

Are you a Marketer who gets frustrated a lot when you didn’t meet the targeted Return on Investment (ROI) you promised your company? Or worse, when you can’t figure out why the results on the ROIs you projected didn’t come out the way you wanted it? In this day and age, marketing has become exciting and yet at the same time complicated because of the way our market is interacting with our brands. All of a sudden, our consumers react differently or they now buy based on informed choices. All of a sudden, you don’t know your customers. Like I said, it has become — complicated.

Before, with the help of some media measurement data, I would do Metrics and KPIs based on the objectives and execute them in all the materials my campaign needs:  I would perhaps just go for the most popular time slot, the most popular programs, and networks and dailies and expect a good result from it just because I have the budget for it.

That was before.

What I learned in the way I will do Digital Marketing from hereon is I will specialize my Metrics to determine my Key Performance Indicators (KPIs) for each tool I will use on the Internet. For example: I will use a different set of KPIs if I determined that Search Engine Optimization (SEO) is important to my campaign or using Google AdWords, Banner Ads, or even the use of Social Media is required. Each of these tools will have different sets of objectives — as each function differently — that will help your brand determine if it is on its way to your desired ROI.

It sounds complicated but doing so will provide realistic and tangible results that will make owners and brand managers happier. (Side Note: By the way, just because I named SEO, AdWords, Banner Ads, and Social Media doesn’t mean you have to use all of them. You need to find out where your market is at and only then you can determine what tool you will use to your customer’s advantage.)

We all want to hit our targets, as marketers, and this will all be made possible if we understand our customers better and understanding them means we will engage them wherever they are and this can only happy if you start gathering details about your customers over a period of time.

Register today!

Register today!

I invite you to learn more about Digital Marketing and how your company can take advantage of the information you will gather when you attend the 7th IMMAP Summit this 29th and 30th August. You will learn how to maximize the use of the Internet and boost your company’s productivity and efficiency. I hope to see you there.