You’re about to breathe a sigh of relief that your holiday marketing plans have gone without a hitch. But don’t get too comfortable now – do you know what your New Year’s marketing resolution is?
Marketers are projected to spend $77 billion (or 26% of all advertising) on interactive advertising by 2016.1 For context, the 2011 marketing projection for interactive advertising is $35 billion. So take this opportunity to review this year’s marketing programs to determine how to improve your future digital advertising spend.
- Nail down your KPIs: By charting your Key Performance Indicators (KPI) quarter after quarter, you’ll be able to assess how each marketing channel is performing relative to advertising spend. This gives you the historical data necessary to tweak your marketing mix.
- Think holistically: Do you ever feel that your marketing programs are piecemealed together? Plan your campaigns and structure them around the anchors of digital marketing: display, search, email, TV, and social media to build a solid communication platform.
- The perils of last-click measurement: It’s been several years since attribution has been the buzzword, but have you moved away from measuring the success of your campaigns through click-through rates? Studies have shown that 4% of internet clicks account for nearly 70% of all clicks.2 This means that if you focus on clicks, you ignore the vast majority of your online audience. Thus, look for improved attribution solutions to allow you to measure lift in what really matters (engagement and sales), instead of a mouse-click.
Footnote 1: Forrester Interactive Marketing Forecast, November 2011
Footnote 2: iMedia Brand Summit, 2009