The CEO's Guide to Marketing
By Hillary Bressler, Travel and Hospitality Marketing Lead, Pinch Hit Partners
Stats are the lifeblood of good marketers. The funny thing is that many marketers got into marketing because they thought they had a lack of solid math skills in school and thus went the route of the non-math related careers in school. This is a bad joke as we come to find out that the marketer’s entire career revolves around math. Budgets, column inch, pixels, impressions, conversions, percentages and the good old statistic.
Marketers have come to have a love hate relationship with math, except that of the statistic. The statistic drives us and gives us ideas. Marketers love statistics.
There are many statistics out there that are completely useless to marketers whose main goal is to increase sales or drive recognition of a brand. For example, global mobile ad spending is expected to reach 247.4 billion U.S. dollars by 2020. This stat is interesting to marketers, but it does not help us drive traffic to businesses or our clients. Yes, it tells us that the mobile industry is not going away, and we keep an eye on it to watch for major shifts, but it doesn’t fuel us.
I have compiled stats that fuel marketers and engage the thinking process. Each one can spark an idea or help marketers convince key stakeholders to move budgets around to support this ever changing digital landscape. If these stats are not a wake-up call, I don’t know what is.
The times in digital marketing are changing….rapidly.
So fast I would consider many strategies, like mobile, to be considered an emergency. With mobile now representing 69% of digital media time spent (comScore, 2017) the time to shift to mobile was yesterday.
In addition, 37% of all online spending in the United States and Europe is now made through Amazon. This figure is 57% for US consumers (Salmon 2017).
You may hate stats or love them, but you can’t leave them. Here are some of the most worthwhile:
Here Are My Takeaways..
Mobile will continue to be a major area of focus for advertisers on both search and display. As the price increases, ensure that your landing pages are optimized for load time and experience on mobile.
We see content marketing as the ‘engagement’ fuel that powers all digital communications from search to social to email marketing to creating website experiences which convert.
Speaking of major areas of focus…how ‘bout that Bing?! The unfortunately oft-forgotten search engine clearly became a bigger factor for many advertisers in Q4 2018; as you look to diversify your marketing channels in 2018, be sure to give Bing some serious consideration, particularly if you’ve had success advertising on mobile devices in the past.
I feel fortunate to have followed some of the amazing major changes in digital marketing and technology over the last 20 years. I am a firm believer that it is the companies that are 18 months ahead of the curve that will always be the winners and get the benefit like low CPC before the competition finds out. Looking back, we’ve seen a phenomenal growth in the importance of organic, then paid search, then social media and more recently, incredible worldwide growth in mobile and particularly smart phone usage. I always encourage companies to take a percentage of their budget and throw it to new and emerging marketing and see what sticks.
Reprinted from the Hotel Business Review with permission from www.HotelExecutive.com.
Pinch Hit Partners provides fractional marketing leaders to growth-oriented companies.