As you might probably gather from the general theme of this blog, I’ve tried to focus on what I view as the next frontier of online marketing, which is to drive, impact and measure offline customer buying behavior. I’m a huge fan and believe this is such a big opportunity missed by most retailers. I was recently invited to present at an online marketing conference in Las Vegas and had the opportunity to speak with a reporter who sat in on my session, in which I discussed how online marketing can drive and impact offline sales. He posted a great interview via video below, which you should check out if you have the time. Plus, he provided a solid write-up and some insightful commentary on his own blog, which you can read by clicking here. Please let me know what you think.
Archive for January 2009
A friend of mine in the online affiliate marketing arena recently developed a blog post that focused on the relationship between online advertising and offline sales, especially at bricks & mortar retailers. The statistics he references are very compelling and spell-out why this opportunity is so big. Don’t take it from me… read his post here and let me know what you think…
I was reading this blog post, click here, that describes Twitter and how various companies, retailers etc. use it to alert millions of people about special sales and promotions. One quote states that Dell alone generated $1 million in sales from twitter announcements. The odd thing is that Twitter is free for people and brands to use and cannot figure out a way to generate revenue. It’s another mobile / social networking / digital media company with a cool product and no revenue. The most interesting points was the discussion on technology that could help track in-store sales back to twitter in a more robust way to provide deeper analysis on how effective Twitter is on driving sales for retailers. Plus, RevTrax got a shout-out which was nice. Check out the blog posting if you get the chance. If you don’t even know what Twitter is, then feel free to pass on this.
Short answer: NO Longer Answer: I’ve been giving a lot of thought to this topic as I go to various online marketing conferences and network with business partners and professionals from the investment community. In general, I feel like the investment community that focuses on digital media still does not understand pay-for-performance marketing, which is by all means a subset of the vast digital media universe. The good news is that it’s growing at a phenomenal pace, especially as traditional advertisers are not paying the same CPM rates for banner ads that they once did. These advertisers are looking for better bang for their buck and more effective ways to drive ROI. I came across a great blog post by a friend of mine, Sam Harrelson, which can be found here.http://www.costpernews.com/archives/the-valley-still-doesnt-get-performance-marketing/ It talks about a similar dynamic, which only begins to explain why VC investors, who are supposed to be some of the smartest money guys out there, do not and cannot wrap their heads around why pay-for-performance marketing is a huge opportunity, especially in today’s day and age. Check it out if you get the chance.
A friend of mine just send me a link to this video which explains how we are in a rapidly changing world of technology, innovation and way way too much information… check it out when you get a chance. It left me kind of uneasy, feeling as if we’ll soon be in a world like that in Metropolis or Total Recall or something… Enjoy!!
For all of the folks who believe that branding is king and drives meaningful sales, you might want to check out the following article online at Promo Magazine (click here). Based on their recent study, it’s pretty obvious that while consumers may remember cool TV ads (which is the primary goal of branding advertisers), it was duly noted that it’s direct marketing and coupons / special offers that actually drive consumers in-store to buy. At the end of the day, TV ads are great for getting the message out, but special offers are the way to get consumers in-store. In today’s economy, people aren’t shopping because they love Wal-Mart’s TV ads. They’re shopping because the retailers are putting additional savings into consumers’ pockets. Having a cool / memorable TV commercial is just icing on the cake for consumers…