Measuring
Marketing ROI – How Low Can You Go?
Following a previous article on marketing metrics, many of you
raised the question of measuring marketing impact on the company
bottom line. While the general consultant answer – “it depends”
– would hold true here as well, my real answer to most of you
in the enterprise software world is simple but disappointing:
YOU CANNOT.
Accelerated
Proof
The happy 90's were all about speed. Speed is still important,
but it has taken on a different meaning. Where speed is most
important today is in proving your solution to potential buyers.
I call it Accelerated Proof. Put yourself in the customer's
shoes. When you make a major purchase, you want to try it
out first. Purchasing enterprise software is a major commitment
with financial, operational, and strategic implications. Fear
of failure could be the number one reason for people not to
buy your product. How can you help them overcome their fears?
Weighing
Risk and Reward
For years, one of my favorite quotes has been "you can't steal
second base with one foot on first." Too many direct marketing
users don't understand the risk involved in keeping their feet
on first base; they see only the risk of stealing second. An
even higher percentage of direct marketers don't seem to understand
the risk of not swinging for the home run occasionally. Let's
look at a few specific cases in which the risk vs. reward axes
are warped.
The
New Mature Market: How Mature Is It?
Today's "mature market" is not your father's "mature market."
It is, on average, healthier, wealthier, and more active than
any similar cohort in history. More than 80 million strong,
with another 40 million to be added to its ranks by 2020, Americans
who are 50 or older comprise a critically important market for
a number of categories—some of which may surprise you:
Selling
the Value Proposition
Pricing your product or service is one of the thorniest marketing
decisions you will make. Typically, you will consider the costs
of producing and providing that product or service, distribution,
advertising, and the competitive environment. And, of course,
profit. Maybe there’s a little wiggle room to make more or less
profit and still stay in business. And then you hold your breath
and hope the market finds your pricing acceptable, and hope
the competition doesn’t blindside you with an aggressive pricing
strategy. There doesn’t have to be such angst.
3
High-Impact, Low-Cost PPC Marketing Options
When it comes to advertising, too many webmasters are content
with paying thousands of dollars to place their ads with only
the most recognizable websites on the Internet. This is certainly
understandable, as the most recognizable websites in your industry
can add credibility and are certain to produce some results.
However, a truly successful marketing campaign will reach far
beyond advertising with the most recognized websites. A truly
successful marketing campaign will effectively harness the many
high-impact, low-cost opportunities available.
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Selling the Value Proposition
Pricing your product or service is one of the thorniest marketing
decisions you will make. Typically, you will consider the
costs of producing and providing that product or service,
distribution, advertising, and the competitive environment.
And, of course, profit. Maybe there’s a little wiggle room
to make more or less profit and still stay in business. And
then you hold your breath and hope the market finds your pricing
acceptable, and hope the competition doesn’t blindside you
with an aggressive pricing strategy. There doesn’t have to
be such angst.
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