<< by on November 15th, 2011
Hello, Good Morning and Welcome to live coverage of SES Chicago 2011 (#seschi). Assuming that the conference internet connection stays as strong as the Starbucks coffee I’m drinking, I’ll be providing live updates from the SES Chicago sessions over the next three days. Through the live updates you’ll gain the valuable information provided by the search experts as they discuss new techniques and tips for search engine optimization (SEO), pay-per-click advertising (PPC), and social media. So sit back, enjoy, and don’t forget to follow the twitter hashtag #seschi.
Kicking off the SES Chicago conference is none other that Mickel Chertudi, SES Advisory Board & Senior Director of Marketing of Adobe. Guilty Marketers: Wasted and Wishful Multi-Channel Marketing Spend, was the topic that Chertudi launched us into the conference with.
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” John Wanamaker, The Father of Modern Advertising
What a bold way to begin, but boy did it get everyone thinking about the way they spend their own marketing dollars, even in their search engine marketing budgets. Chertudi urges us, as marketers to begin talking about marketing dollars as investments and not spends, helping us to not burn money but rather to invest it and grow it as a hedge fund manager would do.
How do we invest it? We track and measure from the beginning to the end, from the click to the close. What should not be done is simply wish a marketing strategy to work.
Chertudi gives us the Top 7 Alleged Counts of Guilty Marketers:
- Lack of Clear Strategy and Objectives: Chertudi suggests that we focus less of the individual tactics and more on the overall objective, with a clear understanding of the objective, we’ll figure out what tactics are necessary to reach it.
- Sloppy in Efforts to Track and Measure: Sure you track, but do you over track??? The majority of companies are NOT de-duping their leads and information causing a huge problem of over counting.
- ASSUME Too Much: Chertudi says that the average marketer assumes the sales numbers after certain actions are taken without tracking down to the actual close.
- Too Much Art / Right Brain: Sorry designers and artsy marketers, Chertudi comes down hard on the marketers that look at the colors and the “look” without taking into account the numbers.
- Too Much Science / Left Brain: Oh no, Chertudi also comes down hard on people who support the long formed landing pages, with blinking banners and 40 point red font because it converts at a higher rate… this is where he says brand needs to be assessed. Do these landing pages represent the company well?
- Short-term vs. Long-term Oriented: Are your marketing efforts making customers jump through hoops? Is it hurting your brand in the long run?
- Unauthentic: Are you showing your competitive advantage? Don’t take the easy road and copy your competitors’ tactics.
- 3 Reasons for Cluelessness
- Misunderstanding Our Businesses: Where does the investment need to be made? Knowing where the investment needs to be made, whether it be sales, processing or management will help you increase the return seen on that investment.
- Organizational and Tactic Silos: This is where the tracking and measuring really comes in to play as we look toward the BIG picture, the main objective.
- Improperly Attributing Attribution Models: Last click, first click, all-even, weighted… what should we use?! Chertudi urges the weighted attribution model.
Chertudi on How We Fix Wasted and Wishful Marketing Spend:
- Use the Right Words - Chertudi again reminds us to focus on “investment” and the return on that investment.
- Validate What We ASSUME to Know – Validate that you are tracking correctly, look to other departments, especially finance, to validate your numbers.
- Have a Clear Way to Measure and Track
- Measure Real Results – What are the Financial Outcomes?
- Attribute Attribution Correctly – Do you have the right tools in place?
- Avoid the Silos of Marketing
- Make Sure Marketing is Behaving Like a Team
- Balance the Right and Left Brain