- The rise of engagement marketing: Takeaways from #MKTGNATION
- Reflecting on 2012 and looking forward to the year ahead
- Facebook’s inability to stay focused and be original
- Achieving exponential user growth: Marketing in the new age
- Twitter’s walls are going up! And soon.
- Technology Trends and Disruptions in 2012
- The Social Enterprise is here in full force! Profiling 3 Toronto startups in the space
- Reminder on why Business Blogging is essential
Monthly Archives: April 2011
Marketing ROI can be one of those arbitrary phrases that sometimes has no real meaning. It is kind of like trying to put a finger on what corporate culture means. How does one define it? Measure it?
Does the term only exist so that us marketers could prove our existence… our worth to the rest of the organization? Or does it even matter what the organization feels about marketing; since every other organization in the world seems to have some sort of marketing department? And so, often I would find marketing would mean creating flyers. Or worse, doing support tasks for sales teams.
Due to scenarios such as these, Marketing ROI quickly became the de facto standard for proving the value and worth of certain marketing activities. It became a quantifiable way to prove that what we did as marketers – mattered.
The problem however was that no one really knew what exact numbers and metrics to look at! What’s lacking, even to this day, is a good understanding of what metrics work for a business and what don’t.
Having been in B2B marketing for many years, I have come to understand that some activities can be tangibly measured and some cannot. I also believe that some things do not need to be measured at all.
Gartner says that in about 5 years, social networking services will replace email as the primary channel for interpersonal communications for 20% of business users.
Well, this has happened across many businesses and brands already. In fact, several large brands already use social networks to communicate with their customers, prospects and partners.
Think Air Canada’s new twist on customer service, Dunkin Donuts taking complaints and Dell computers giving out deals through Twitter. Not to mention the massive number of business and product pages on Facebook and the benefits that brands associate with being a fan of those pages. Theres a lot of communication happening through those. And more importantly, it is a two-way conversation, not just one-way communication like in email.