Monday, July 6, 2020

4 Ways Marketers Can Seize the Chance to Prioritize Investment Data

With COVID-19, businesses shouldn’t just expect things to just go back to ‘normal.” Gartner predicts that over a third of companies expect reduced levels of business operations for the foreseeable future. Acting like nothing has changes is a recipe for disaster.

But the outlook for marketers shouldn’t be all doom and gloom. In fact, during this time, the smartest organizations are seizing the chance to fix problems of operational efficiency and marketing agility that have been brought to light by the economic upheaval.

Fewer resources and uncertainty demand marketers prioritize efforts like never before. Marketers should be more strategic with their time, people, and dollars right now. But unfortunately this is a huge blind spot for most, as 63% of marketers cannot determine which investments drive results. And if you don’t know what’s working, how can you prioritize it?

COVID-19 has forced marketers to double down on understanding where they were driving impact and becoming more efficient in how they do it. This means developing a clear understanding of where you’re investing your financial and human resources. Most companies have at least a basic way to assess their people’s time or their campaign outcomes, but the one element most companies are missing in order to assess efficiency is an investment data set, including how much budget they planned to spend on certain programs and how much they actually spent on various programs and technologies. 

How do you get started on this critical data set? Optimizing your investments is similar to how you optimize any other resource—it calls for flexibility, accessibility, and to be aligned to strategy. Here are four key places to start as you look to gain a better understanding of your investment data:

Simplify

Your budget hierarchy should mirror the marketing organization itself. How are the teams of people organized, and how do they align around investments? Within what structure does your team already naturally spend money, such as campaigns or regions? Structure the budget as naturally as you can, based on how funds are allocated, so there are clear ways to tie investment data to performance data.

Standardize

Investment data needs to be centralized in order to paint a clear picture of where and what you’re spending on. This enables teams to drill into investment data by product line or region, but also roll it up an organizational level for marketing leaders. Categorization is also key. Investment hierarchies aren’t the sexiest topic of discussion, but if you want to start understanding which channels are the most efficient, you need to understand what ALL marketing groups are spending on advertising, not just one group. 

Accessible

Do you only check on investment data when someone asks a question? If so, it’s time to change. An accessible system that a) encourages marketers to keep their investment data up-to-date and b) pulls in actual spend data will dramatically reduce the amount of time your team has to spend hunting for investment data, while giving you a data set you trust. An accessible data set also enables your team to be proactive about investments rather than reactive.

Connect

Like any other data set, investment data should be easily combined with other data sets for actionable insights. That means connecting it to your ERP system for automated actuals and your CRM for revenue impact and performance measurements. And all data sets need aligned fields, meta-tags, and hierarchies, so they can actually drive useful insights that will guide marketing decisions.

For a long time, marketers measured success based on the sheer volume of output. But in today’s world the measure of success needs to be on quantifiable business impact, and that means prioritizing all invested resources against the activities that drive business impact. Businesses that have clear investment strategies and clean investment data will have the foundational knowledge to know where they should focus their time, money, and people. 

Our new normal has given marketers the opportunity to innovate and test new things. Think about those tests with an eye to fixing the foundational challenges the crisis exposed, so your future plans have an even greater impact on the next normal. 

Julia Steadman, CMO at Allocadia

                                                                                                           

For more insights in marketing budgets and planning, subscribe to the CMO Spark Newsletter.

 



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Sunday, July 5, 2020

Get Higher Quality Referrals Using LinkedIn

On the Fly is our video series with small bites (two mins or less) of marketing and customer experience advice and training from experts, given to you during disruption. This week’s featured expert is Viveka von Rosen, Chief Visibility Officer with Vengreso. Viveka is a LinkedIn expert and has tips to help you get more quality referrals using LinkedIn. 

92% of consumers trust referrals from people they know, and people are four times more likely to buy when referred by a friend, shares Vivekak. LinkedIn is a great way to find your prospects, but how do you start that initial conversation? Watch this full video to learn Vivekak’s method which was had a 100% success rate with booking time with prospects. 

Visit OnTheFly.Expert to see all episodes. 

 

Better teamwork between marketing and sales serves to better help customers with solutions and information that can make a difference at their jobs. You may also want to read 7 Ways to Tighten Up the Teamwork Between Marketing and Sales



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Saturday, July 4, 2020

Weekend Favs July 4

Weekend Favs July 4 written by Jocelyn Stillwell read more at Duct Tape Marketing

My weekend blog post routine includes posting links to a handful of tools or great content I ran across during the week.

I don’t go into depth about the finds, but encourage you to check them out if they sound interesting. The photo in the post is a favorite for the week from an online source or one that I took out there on the road.

  • Clicks in Context: Audit your Google Ads to make sure there are no red flags that are causing them to pour away cash for zero return. This report immediately gives you PRACTICAL detail you can action and improve performance right away.
  • Plooto: Focus on strategy by simplifying your financial processes; pay, get paid, and manage your finance operations from a single online tool.
  • Canva: User-friendly drag and drop tool to design presentations, social media graphics, and more with thousands of beautiful layouts; design anything and publish anywhere.

These are my weekend favs, I would love to hear about some of yours – Tweet me @ducttape



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Friday, July 3, 2020

B2B Marketing News: COVID19 Impact on B2B, Boost in Online B2B Purchasing, Google Combines Search Console & Analytics Data

Consumer Recommendations Study

Consumer Recommendations Study Which Recommendation Types Do Consumers Find Most Compelling? “Based on your favorite” is the most impactful recommendation type, study data shows. MarketingCharts Google Expands Access to its Business Messaging Tools from Search and Maps. Expanded brand reach to customers via maps and search listings are among features in a new tool rollout.  Social Media Today COVID-19’s Impact on the B2B Industry. B2Bs are figuring out how to stay in business, operate and recover. This often requires a digital transformation of marketing and sales efforts. eMarketer B2B Influencer Marketing Research Report Google to pay some publishers for content; others dubious. Alphabet’s Google on Thursday took a step towards resolving its spat with publishers, saying it would pay some media groups in Australia, Brazil and Germany for high-quality content and expects to do more deals, but others were skeptical.. Reuters Study Reveals Surge in Demand for Online B2B Purchases as COVID-19 Slows Direct Sales. Wunderman Thompson Commerce’s B2B Future Shopper report shows nearly half of all B2B purchases are now made online. MarTech Series Facebook Adds Custom Audience Creation Options Based on Shopping Activity. With Facebook and Instagram Shops on the way, Facebook has this week added some handy new Custom Audience creation options to align with increasing eCommerce activity. Social Media Today The Evolution of Sales and Marketing Alignment. Much has been said about the benefits of aligning sales and marketing teams, as well as the many challenges that organizations can face. A new report from InsideView looks into what’s stopping companies from taking key steps towards alignment. MarketingCharts Google Combining Search Console & Analytics Data Into One Report. Google is giving site owners advance notice of an upcoming beta test where data from two platforms is combined in a single report. Search Engine Journal
Facebook tests Forecast, an app for making predictions about world events, like COVID-19. Forecast, a new project from Facebook’s internal R&D group, NPE Team, is launching today to build a community around predictions. The iOS app will allow users to ask questions and then use in-app points to make predictions about what might happen in the future. TechCrunch
TOPRANK MARKETING & CLIENTS IN THE NEWS: Have you found your own top B2B content marketing or digital advertising stories from the past week of news? Please let us know in the comments below. Thank you for taking the time to join us, and we hope you'll come back next Friday for another collection of the most relevant B2B and digital marketing industry news. In the meantime, you can follow us at @toprank on Twitter for even more timely daily news. Also, don't miss the full video summary on our TopRank Marketing TV YouTube Channel.

The post B2B Marketing News: COVID19 Impact on B2B, Boost in Online B2B Purchasing, Google Combines Search Console & Analytics Data appeared first on Online Marketing Blog - TopRank®.



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Thursday, July 2, 2020

Ad fraud prevention firm CHEQ enters PPC market

The company says it offers the first cybersecurity-based platform for paid search and paid social ad fraud prevention.

Please visit Marketing Land for the full article.


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Create TikTok ads that convert by embracing the platform’s storytelling style

In-feed ads are a great place to start with TikTok advertising but don’t just reuse ads from other platforms.

Please visit Marketing Land for the full article.


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Google Analytics for Small Businesses

Google Analytics for Small Businesses written by John Jantsch read more at Duct Tape Marketing

Marketing Podcast with John Jantsch

Today’s topic is Google Analytics, one of my favorite items to talk about. It isn’t the sexiest topic, I know. But it’s an important one. Closing the loop on your marketing investment, on your channels, on your customer engagement, those are important. This allows you to focus, to spend less money, and to invest in what really works.

Google Analytics I work with a lot of small business consultants and small business clients and this is one of the biggest challenges to get them excited about. It’s a lot like telling people they need to like math. Especially when you go to this tool, one that I believe is one of the best tools on the planet, and it’s free, but it’s really easy to get lost. In this podcast, I’m going to spend some time trying to simplify this.

Listen and learn:

  • Why should you care about Google Analytics?
  • How do I set it up?
  • What goals to have when setting up Google Analytics

 

Google Analytics

Like this show? Click on over and give us a review on iTunes, please!

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