In the old days of traditional marketing, you conducted some research, consulted with your colleagues and agency partners and in the end, decisions were often made on gut feeling. I mean there were what 3 TV stations, a local newspaper or 2 and some trade pubs. How hard could it be?
The promise of Digital Marketing was going to change all that. Because it brings a ton of metrics we can use to make better media buying decisions, right? We can test offers and creative and then optimize our campaigns as we go. I mean that’s how it works in your organization, right?
The Biggest Mistake Marketers Make
A few weeks back I wrote about how the top mistake marketers make was not putting customers first. Too often, we make our campaigns and our content all about us.
Don’t Label Your Audience
Similar to the “biggest mistake,” the next B2B Marketing Mistake I discussed was labeling. Not to be confused with the good practice of targeting content to a buyer based on their immediate need. This mistake talks about not using the customer’s own words to tell the story.
To avoid this mistake, we need to execute strategic content marketing programs by:
- Defining our market segment based on buyer behaviors
- Establishing buyer personas
- Mapping content to buyer stages
Want an example? Following the best practices of search engine marketing and SEO shows you exactly what words a customer uses when looking to solve a problem. It also tells us what content they engage with when they find an answer. If you aren’t convinced, check out this AdAge article that recently asked whether the lack of digital marketing skills would result in search geeks taking over advertising.
The Digital Marketing Ego Trap
The next biggest mistake marketers make is in media selection. If you look across the marketing landscape today, too many of the media decisions are still based on the ego-driven “I know better syndrome.” We define our objectives, we brief the agency, if we’re lucky the agency scours the media landscape and brings their expertise to driving an amazing media plan. And when they present it, we say “Nahhhhh!” I think we should be in these other publications because I think that’s where our audience hangs out. (Moan! Sigh.Yawn.)
This report from Comscore shows us that in digital advertising, more than half of the effectiveness is based on the quality of the ad creative, around a third of effectiveness is based on the offer. Only 13% of ad effectiveness is based on the media.
The bottom line: focus on great creative and compelling offers and let the agency do their job in picking the right media.
Alternatively, Chris Kane from iMedia reports that when we do approve our media plans, we should utilize a real-time-bidding approach. In the chart below, Chris shows that this approach to media buying can yield 52% greater reach at 59% of the cost of traditional media site selection.
I hope I’ve given you enough evidence to fight off the digital marketing ego trap. But also, I think all this is good reason to pause and consider:
- Is today’s digital marketing landscape requiring a new marketing skill set?
- Can traditional marketers stay in the game or are the “search geeks” really taking over marketing?