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Please consider this free-reprint article written by:
Jim Estill
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Article Title: The Fallacy Of Return On Investment In Marketing
Author: Jim Estill
Word Count: 691
Article URL: http://www.isnare.com/?aid=75766&ca=Marketing
Format: 64cpl
Author's Email Address: jime[at]synnex.com (replace [at] with
@)
Easy Publish Tool: http://www.isnare.com/html.php?aid=75766
================== ARTICLE START ==================
Return on investment in marketing cannot be measured
accurately.
Do you buy a Coke because it is on the billboard; because you
saw the ad on television; because you saw the Coke truck; or
because the Coke machine is convenient? Was it the ad this
month or last? Or was it the ad you saw when you were 10? Or is
it the fond memories you have of drinking Coke? Or the nice
logo?
The answer is � you probably don�t know exactly why you buy the
Coke at the particular time that you do. It is a combination of
all these factors that make up marketing that cause the
consumer to take action.
Marketing is the battle for perception. Good marketing can
create the perception needed to cause purchasers to buy.
The only type of product that can have an instant return on
investment in marketing is something that is truly
commoditized. If you are selling water and there is no
perception that your water is any different than anyone else�s
water, then if you do a marketing campaign or a promotion or a
price reduction, you can shift share from a competitor. Most
manufacturers should actually be spending their marketing
dollars differentiating their product. It is much easier to
sell �Clean Glacier� water over �bottled city� water if Clean
Glacier can sell the refreshment and health benefits of their
brand.
The only companies that should want to commoditize their
markets are ones that are truly the lowest cost to produce (not
to be confused with lowest price). To sell at the lowest price
without the lowest cost is a recipe for failure.
There is a great book called Tipping Point, by Malcolm
Gladwell, that talks about mavens (product experts) and
connectors (natural networkers who spread the word). The thesis
in the book is that getting products known by enough mavens and
connectors can cause a product to �tip� and become pervasive
and successful.
I sit on the board of Research in Motion (RIM). When RIM was
first introducing their products, they spent most of their
marketing budget on giving samples of their product to people
they identified as mavens or connectors. Most stockbrokers
qualified. Because the product worked well, they evangelized it
and eventually that lead to more adoption and ultimate success.
A single influencer can persuade hundreds of customers to buy
over a long period of time.
The purpose of marketing, then, can be to influence the
influencers. Design any program with that in mind.
Marketing is also best done with multiple media. It is best to
not only send a flyer but to telemarket, email, fax, press
release, demonstrate products in trade show, advertise etc. The
different messages reinforce each other and different people get
different things from different media.
All marketing tends to be more effective if it is repeated
often. It has been said that the first time a person sees
something about the company, they don�t see it; the second
time, they are vaguely aware of it; the third time they look at
it; the fourth time, they read it; the fifth time, they absorb;
and the sixth time, they buy it. All marketing effects occur
over time.
Because of the difficulty in measuring ROI, some companies will
just stop marketing. This is great news for those that keep
marketing. In time share will shift to those that continue to
invest.
I am a time management person. I pride myself in using my time
well. I even authored an eBook and audio CD on the topic.
People ask me why I Blog and do I get a return on the time I
spend blogging. I do know it has given me a higher profile. It
has added to the traditional press I get (I have been written
about in the Globe and Mail, Forbes Magazine and many computer
trade journals like CRN). Can I measure the ROI? No � but no
long term company can measure ROI accurately.
About The Author: Jim Estill is the CEO of SYNNEX Canada. You
can learn more about his views on marketing and corporate
management at http://www.jimestill.com. You can also find
information on his new ebook, Time Leadership.
Please use the HTML version of this article at:
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================== ARTICLE END ==================
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