March 2, 2009
The Downturn Compass | prove it works or we’ll slash it…
I was reading yet another interesting article (yes! it’s Monday morning) from eMarketer on Marketing strategies in this downturn turmoil.
Interestingly seems that we’re finally getting to the critical point i.e. resolving the famous equation that wants 50% of your Marketing budget wasted without you knowing which half. Marketers in the US are finally facing that is time for accountability.
The downturn compass: accountability
At Kineo we’ve been preaching this for quite a while now and I’m actually quite excited that over 50% of the based interviewed in this US survey is clearly looking in the right direction. What amazes me is that we need to get to budget slashes to finally seek accountability. It’s a bit like you have to break an arm in order to understand how important is to have them both.
ROI driven strategies: something that everyone nowadays fills their mouth with, but what does it actually mean?
For us ROI means:
- creating visibility (a granular picture of where your marketing dollars are going and how they influence the sale’s funnel)
- leveraging real time data generating
- Actionable Insights (if data talks about the past it’s too late to do something about it)
- empower Marketers with useful technology/tools to be in control of the Marketing levers without and engineering degree
- drive technology to serve Marketing
In a nutshell removing the guess work from Marketing.
Nico Abbruzzese
For further info: info@kineo.com.au
Written by: Nico Abbruzzese
Filed Under: Online Marketing
Tags: ROI Driven Strategies
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March 2, 2009 at 1:17 pm
Hey Nico – completely agree. Fingers crossed that the shift happens in Australia like it has in the US though. My fear is that marketers across Australia are still more focussed on traditional though, and while they like the notion of measurement and having an ROI focus, they have limited knowledge of how to go about it.
March 2, 2009 at 1:32 pm
There is a reasonable argument that ‘online’ will be sheltered from the downturn better than most other industries.
The key of this shelter being growth – The rising tide floats all boats.
Adspend is scheduled to grow 14% this year in APAC alone.
eCommerce spend in the Australian market is scheduled to grow 25%. Even in the face of a downturn.
Clearly there is ROI in the online space, whilst other mediums are under-delivering or even shrinking.
Take the concept of growth, combined with the increased sophistication and availability of web measurement tools and there is a very clear cut testimony for well planned and efficiently executed online spend and boosted marketing programs.
The key challenge in any of this, is of course to find the right people to formulate strategy and get the execution right. Easy said. Not easy done.
March 3, 2009 at 12:09 pm
In the current economic climate, I think there is a lot of fear in changing the way you do things. In a traditional offline marketing department, it takes a lot of guts to stick your hand up and be held accountable for spending money in the great digital unknown. As the great saying goes, “No one ever got fired for hiring IBM”.
Marketers who are willing to take the chance will be their company’s hero in 2009. Our goal here at Kineo is help marketers on their digital journey and show them how just how successful their campaigns can be.