01. Digital Disconnect
A recent article from eConsultancy (2010) finds that digital marketing will account for 24% of overall marketing spend this year. Despite the exponential growth in online advertising year on year, there is still a lack of accountability of marketing dollars.
From a client standpoint: We need to hit X volume of target and we should spend all our marketing budget into online.
From a media standpoint: Let us put all the money into performance networks and it will self optimises itself to generate the conversion required.
From the creative standpoint: Let’s do some creative testing, messaging and identify which message is more effective in converting.
I believe there got to be a changed in mentality of how digital marketing is executed. If I am the marketing head, I will be trying to gain more clarity and visibility in my marketing activities such as:
1) If I’m spending $150,000 in online marketing, I would be keen to know the reach and frequency of my campaign. Ultimately also correlate the media activities with my on site activity and identify if all the traffic that has been delivered from paid media is effective and ask (am i driving too much traffic to the site), (are traffic to my site resulting in high bounce rate)
There are so much insights when we start piecing data points together.
In short, see below my conclusion of why data is important.
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