I’ve never been very good at gardening, even though I still try each year. I till my little patch of land so that I can sow my vegetables, spending far more on plants and preparation than my meager harvest would ever come close to paying out.
While recently reading ‘On the Near Impossibility of Measuring the Returns to Advertising’ by Randall A. Lewis and Justin M. Rao, it was stated that the average American sees 25-45 minutes of tv commercials, multiple billboards and an array of internet ads per day. They go on further to say that industry reports place annual advertising revenue in the US in the range of $173 billion, or about $500 per American per year. In order for advertisers to break even they need to net about $1.50 in profits per person per day – translating into about $3,500 -$5,500 per household per year. So is this possible? Is it possible to measure the exact return on investment metrics of an advertising campaign?
As I often do when writing these blog posts, I harken back to early in my career. This one in particular made me laugh a bit to myself because it reminded me of something I said to my mother when I was desperately trying to figure out what to do for a living.
So many companies focus on identifying their brands by sitting around their own conference room discussing what they think their customers value about their brand. Few step outside the office to truly figure out what resonates from an end user perspective.
Marketing automation is an exciting topic these days. Very few other management platforms combine both marketing, sales and analytics functions effectively into one package. When done correctly, marketing automation can save time, automate routine operations and provide analytics.
Knowing how far your claims may reach
In doing some research for a client about the role of safety in manufacturing environments, we came across a very interesting piece of news…a major manufacturing company had appointed the first ever safety advocate, designated to oversee worker health and safety. Wow! Nice work protecting the little guy, Corporate America.
One of your most powerful business marketing tools is simple: your website. It can help you stand out from your competitors and defines you as a company. It is a direct reflection of you and can give people an idea of how you conduct business. Your website can be what makes the first impression, so make it a good one!
It seems only logical that most business-to-business companies consider LinkedIn to be the most effective and successful social media platform for content marketing; after all, it is built on business relationships and networking. But what about its runner up – Twitter?
When Google Glass came out, we kind of did a shoulder shrug—it seemed to carry with it a pretty hefty point of entry with a $1,500 beta price tag and Clark Kent-looking frames. Thanks Google, for a carrot we just can’t seem to reach.