If you’re finding it tough to figure out the tricks to Internet marketing, don’t think you’re alone. Even high-paid marketing executives have trouble finding time to learn new things. For you, as your own Chief Marketing Officer in a small or medium-size business, the problem can be worse.
Marketing smart has never been more challenging than it is today. Between looming quarterly bottom lines, the explosion of new technologies, and the bucking economy, you’ve got one of the hardest jobs in business. Who can blame you if caution and conservatism rule when so much is in turmoil around you? But when it comes to interactive, consider taking a cue from three of the biggest mistakes* CMOs are making today:
Spending only 6% of their budget on the Internet, when audiences are spending 14% of their time (as much as on television viewing) on the Internet.
Failing to understand--and take advantage of--the greater accountability of Internet advertising... Close to 75% trackability for the web versus 25% for, say, television.
Not realizing how incredibly targeted their advertising can be on the web. For example, an advertiser for ski vacations can display ads when the customer is searching for ski vacations, reading an article about ski vacations, browsing a website on ski equipment or watching an online video on improving your skiing skills.
Reports say about half the CMOs on the job today have a good command of promotional possibilities with the Internet, and the other half don't. And then there are those companies who have neither an executive marketing officer nor the resources to do all that research, strategizing, and testing.
It's becoming ever clearer that personalizing your advertising and promotions is powerful. But how to get there is another story. Never has such a vast learning curve been required for so many, just to do business effectively in our world today.
Don't be discouraged. There are interactive strategies that fit into integrated marketing approaches—and deliver measurable results.
