3 Ways To Optimize Your Digital Marketing Spend
By Tashmeet Kaur, Business Development Manager, Innity
As the markets mature, more companies have given serious considerations to the role that digital advertising plays in overall marketing strategies. Previously, consumers relied on word-of-mouth to gather information however, now, information is readily available through online reviews, websites and social networking websites.
Inspire consumers to stretch their marketing budget – as per research conducted, traditional marketers spend more than half their marketing budgets on paid placement media and the remaining budget creating content and on agencies/employees.
In digital, however, marketers spend half of their marketing budgets on content thus consumers are allowed the flexibility to decide what exactly to look at, have a hand in the content and pass the relevant message to online communities (Fink, 2011).
Greater use of technology – marketers require the ability to use and assess intelligence in real time to drive performance by using it. For example: One news company in Singapore tracks the volume of consumers viewing its video ads on various websites to estimate sales.
These insights can prove to be helpful provided marketers know what they are measuring and analyze the data generated. Clear processes need to be implemented to act upon insights, track insights and follow up with action (Fink, 2011).
Adopt a publisher’s discipline to curb costs – most marketers fail to realize the impact of rising costs within their operations, inconsistent quality of content and unnecessary duplication. Marketers should inculcate discipline to ensure reusable and reliable information. Switching perspectives may simply improve customer experience and efficiency (Fink, 2011).
So marketers, take this opportunity to review the various perspectives and what needs to be accomplished. If hitting the reset button is required, please do so!
Fink, R, 2011, ‘Four Sure Ways To Get More From Your Digial Marketing’, viewed 19th January 2011, < http://www.strategicdriven.com/marketing-blog/bid/24117/Four-Sure-Ways-to-Get-More-From-Your-Digital-Marketing >