For the first time it’s been reported that more money is flowing into digital media than offline channels. As more and more “experts” tell you why you should be increasing your digital marketing budgets very few actually are talking about the primary objective of ANY marketing initiative: to drive bottom line results.
As a digital marketer, I understand the need for an integrated digital marketing strategy because no matter how much you spend to develop a great branded website that alone is not enough to turn consumers into customers. Marketers need to ask some basic questions when it comes to digital marketing:
1ne: Do consumers have the time, or want to, have a digital relationship with my brand/product?
2wo: Are prospects really going to research my product online before purchasing?
3hree: Does my audience want to be interrupted with online ads, especially on mobile devices?
Of course, there are some products where the answer to all three questions is yes. For example, consumers are probably going to research products like appliances, insurance and cars before purchasing, but the same cannot be said about 99% of products and brands that we purchase everyday or week. I mean, do women have time to research tuna fish while managing their families?
I am reminded of a client who increased sales 150% by moving their gourmet chocolate from the candy aisle to the front registers and adding POP information about the health benefits of dark chocolate after spending well into six figures to redo their website which did not improve any web metrics like time on site or pages viewed.
As CPG marketers, we have to better understand where consumers are most likely to become customers and allocate budgets accordingly. We can’t afford soft metrics like engagement, conversations or developing apps if they don’t drive brand objectives. The fact that 64% of marketers use brand awareness as their top marketing ROI KPI is a clear indication that something is clearly wrong.
Before you follow “the crowd” and spend a lot more money digital marketing make sure that it’s going to provide conversion because everything we do, as marketers, has to be accountable. Sure, you need to develop a great branded experience online, but not at the expense of other channels.
Originally published at www.newmediaandmarketing.com on April 16, 2014.