It Depends on Which Metrics Matter to You
Why are advertisers starting to “ditch digital” in favor of returning to tried and true media that have proven the ability to generate return on investment?
Just the other day, we talked with a high-volume auto dealer in Mid-Michigan that suggested he’s ready to cut back his advertising budget currently invested in a digital marketing program. He explained that, over the last few months, he had stepped up his advertising dollars in digital after being on the receiving end of some very convincing presentations. He loved the idea of receiving more measurable data promised by these digital vendors.
In fact, he was very impressed by all the numbers put in front of him. Who wouldn’t be? He was impressed with nearly every data point…all the numbers except for one.
And that changed everything.
Are You Measuring What Really Counts?
While marketing people speak the language of “soft” metrics, business owners speak the language of “hard” metrics. Marketers want to focus on the open rates for their email marketing campaigns. They want you to believe large increases in Facebook likes actually equate to sales. However, business owners watch one thing — the bottom line.
Like many business owners, the high-volume auto dealer was the only one paying attention to the measurement that really mattered to him…sales! However, when marketing people are challenged on this being the true metric of success, many cry foul. Why?
Measuring advertising results is a hot topic in every industry, as digital, social and mobile advertising platforms churn out reams of data. Marketing people are quick to boast about all the “soft” metrics included in these reports. They glow over generating better-than-industry averages for open rates and click-throughs. But what good are clicks, opens and likes if you can’t even cover the cost of advertising to get them through increased sales?
Have we fallen so far into this deep dark hole of data to actually believe generating impressive “soft” metrics is more important than producing the “hard” metric, sales?
Nothing Happens in Business Until Something is Sold
Let us not forget nothing happens in business until something is sold.
Make sure you measure the right thing and hold all your media providers accountable.
For the aforementioned auto dealer, this meant ditching digital and reinvesting in traditional broadcast media. This may or may not be the right answer for your product and company. But if you’re not at least being honest about what the true measure of success is, you’re in danger of wasting hard-earned money chasing a shiny object.
Hold all of us accountable to the deliverable that pays the bills and puts money in the bank. Sales!
Contact us today at ALVE2549@aol.com or 989-752-8164 to continue this conversation or share your comments.