Changing the Marketing Mix

2012 is finally here and marketers are using a combination of innovative efforts to impact their target base.  We know that when crafting and executing marketing strategies, we need to keep in mind the changing PR, media and market landscapes and their relationship to human behavior.  With this in mind, new and time-tested marketing initiatives are taking the forefront in this years marketing mix:

Photo from luigi diamanti

Direct mail is making a comeback. We have seen a steady decline in direct efforts in the realty and credit card areas over the last 12 to 18 months. However, effective direct mail (for the right products) will once again take an active place in the marketing mix.  Consumers are being inundated with electronic communications so marketers are trending to use direct mail in strategic ways to increase visibility.

Digital takes new front role in the marketing mix. While direct mail may be making a comeback for targeted efforts, marketers are seeing a big shift happening – a shift that will most likely continue throughout next year. Companies and organizations are now, finally, giving digital marketing channels precedence over traditional, analog media. Of course an integrated marketing approach remains key, but digital comes first, both in strategy and in budget.  Social media will continue to increase in importance, and the use of items such as QR codes will continue to be explored as venues to target digital.

Bundling will increase as marketers get smarter about pre-packaging products and services based on customer needs and problem-solving opportunities.



Video usage among B2B companies will increase, with far more value-added content and fewer boring demos. Cisco predicts that 80% of all Internet traffic will be video by 2015.   If you’re not learning about how to use video to grow your business online, it’s time to get started.  Consider video presentations about your business and services.  Go for quality and differentiate yourself from your competition early in the game.  Video brochures, video newsletters, and regular video communications on your web site will identify your business as progressive and “in touch.”  

 Mobile continues to impact how people interact with companies.  Over the past year, mobile devices have led both technological and marketing innovation. Google states that 79% of smartphone owners use their mobiles to aid in shopping and 74% make a purchase as a result. Smartphones have revolutionised how we interact with content on-the-go and in 2012 the mobile device will continue to play a significant role. In particular, mobile devices could reinvent the remote control for connected TVs.

Inforgraphics is becoming more important in strategy formation.  Infographics is the way we consume information.  Analysis of consumer segments is becoming forefront in creating marketing strategies that are more efficient.

Here's to pushing our efforts forward and becoming more valuable to our organizations.

Other Resources 

15 Business and Marketing Trends that Matter by

2012 Technology trends in Marketing

Kathryn_anastasio@yahoo.com



True Value: Measure Your Marketing Effectiveness (Part I)

Photo from Renjith Krishnan

Marketing is not just an expense to an organization – it is an investment.

(Part I of a two-part post)

Over the last 20 years, the range of marketing options and opportunities for marketers has expanded dramatically.  Once there was only a limited choice - print and TV.  Now there is a whole range of media from direct mail to video to new technologies (social media, QR codes, etc.). As marketers, we know that executives are asking us to justify the effectiveness of our efforts - demonstrate the ROO (return on objective) or ROI (return on investment) of how we spend a company’s marketing dollars.  With the proliferation of new marketing mediums to invest in, marketers struggle to understand which options deliver the greatest returns. So, how do marketers approach measurement?

As a marketer, my success with measurement is in defining relevant metrics and measurement criteria to demonstrate the value of my efforts to help advance business objectives.  The metrics must correlate the marketing activities (cause) with the marketing performance, financial results, and customer impact (effect). 

The Foundation

A successful metrics framework is used to understand the correlation of marketing campaigns to defined corporate goals and objectives. For any measurement to be meaningful, you first must define goals and objectives of the business and determine how marketing can build strategies and tactics to help advance the businesses objectives.  Prior to embarking on new marketing initiatives, develop a plan with specific, quantifiable objectives, e.g., achieve $5 million incremental sales, 10,000 inquiries, 10 percent of coupon redemption, receive 15 percent increase in web traffic, sell-in displays at XYZ account, etc.

Second, ensure you have a way to “measure” your efforts.  Develop and utilize a customer database that captures promotional responses, website registrations, advertising and trade show inquiries, etc.. Ideally, the database should integrate with your corporate information systems to report sales transactions, purchase history, new customer gains and losses (acquisition and retention), and other detailed information.  Consider testing your metrics to ensure you can gather the information that will be beneficial to driving business.

Third, to improve the effectiveness of marketing you need to not only improve the measurability of your marketing programs, but also ensure you are measuring the right things. Don’t simply look at how much is spent.  Look at how the activity has helped you reach a goal that leads to bottom line revenue. Remember to figure out how to value a customer and how much to invest in acquiring and maintaining that customer.

Finally, ensure that you are reporting back on the effectiveness of your efforts - in aggregate and at a campaign/initiative level. Includes lessons learned and quantify, as you can, revenue that is connected to the efforts. Remember, it's not always a straight line between marketing and revenue, but measuring your efforts can help determine efficiencies of your efforts to help drive business. Marketers can't always draw a line between content creation and financial return. An investment in words, visuals and online media that drive site visits, Facebook fans, retweets, video views and positive ratings is not reflected on the balance sheet. But, that doesn't mean these activities are without measurable value. Instead, they are leading indicators that the brand is doing something to create value, and that can drive financial results in the future.

As there is a lot of meat to this topic, I plan to continue my thoughts in Part II (next week) - examples of what can be measured.

Here's to planning and analyzing the effectiveness of your marketing efforts.

Other Resources

• Measurement Cheat Sheet - great overview of B2B marketing measurements. 
• For a great “toolkit” for measuring marketing, visit  marketo .com  
• Marketing ROI Calculator for measuring the marketing ROI for direct mail or e-mail campaigns 

 kathryn_anastasio@yahoo.com

Marketing Trend - What’s The Scoop with QR Codes



Photo from UCView

It all started in Japan, 1994.  Quick Response (QR) codes were created by Toyota subsidiary Denso Wave Inc. for tracking vehicle parts. These two-dimensional bar codes are more useful than standard barcodes as they can store (and digitally present) much more data - thousands of alphanumeric charters of information, including url links, geo coordinates, and text. The code spread as more than just an inventory tool.  When you scan a QR code with your mobile devise, you can save information to that devise (like contact information) or access various portals on the web. Today, QR codes connect people with each other and content in a very efficient way.

Many marketers are including QR codes in their marketing mix.  They are increasing in importance as they provide a direct link between a consumer’s mobile phone and your company’s marketing message (e.g. your contact info, a sales message, a coupon offer, etc.) – more instant access to disseminate information that can lead to increased revenues. 

According to a study by comScore, a leader in measuring digital work, in June of this year, 14 million Americans scanned QR codes on their mobile phones, that’s 6.2 percent of the total mobile users.  “For marketers, understanding which consumer segments scan QR codes, the source and location of these scans, and the resulting information delivered, is crucial in developing and deploying campaigns that successfully utilize QR codes to further brand engagement,” stated Mark Donovan, comScore senior vice president.

Studies have shown a younger, affluent audience, but the age range is expanding.  Current trends of use are younger crowds (25-34), but those in the 35-44 age range are gaining momentum.  Trends also show males and those  who make more than $100k are more likely to scan a QR code.  As QR codes are still considered a new technology, there are a considerable number of consumers who are unaware of the QR code technology.  Some education may be needed with your target groups if you are going to use this as part of your marketing mix.

Samples of QR Code Use

Many top brands are using QR codes to reach their customers including, Ford, Audi, Pepsi, Starbucks, McDonald’s, Best Buy and Ralph Lauren. Starbucks has had success with the use of QR codes, enabling users to pay for their purchases via mobile - 3 million Starbucks customers have already tried it.  QR codes are being used in a variety of marketing mediums:

• Advertisements/Billboards (linking to service/product information, special offers, call-to-actions)
• Business Cards (linking to a company’s website, a biography, directions to business)
• Brochures and other marketing material (linking back to more details on a product/service, special offers)
• Sides of trucks and trailers (information on company or product)
• Product tags and packaging (get installation instructions, special promotions, source for replacement parts and service)
• Convention and event name tags (download contact information to your mobile devise)
• Restaurant menus (to get more information on the restaurant or food preparation)
• Event ticket stubs (valuable coupons and special offers from vendors)
• Point-of-sale receipts (customer feedback)
• Other creative uses: T-Shirts, on promotional items, in powerpoint presentations, city park benches, on real estate signs, on invoices

 QR Codes as Part of Your Marketing Mix

The future of QR codes is limitless.  Innovative brands can embed videos, websites and more to build out the contact a client has with their brand.  Approximately 22% of Fortune 50 companies are using a QR code to impact consumers. As you evaluate this new trend, determine how and if it fits into your overall strategy (marketing mix, channel marketing initiatives, and appropriate for the demographics of your target consumers). 

The next generation of barcodes will hold even more information – so much that an Internet connection may not even be necessary to access - as the content will be effectively embed in the code. 

For examples of companies using QR codes, visit socialwayne.com.

For insights into QR codes use in Europe, visit comScore Data Mine.

If you do not have a reader on your Smartphone, visit Jumpscan.