EDWARD S. SUCHERMAN & ASSOCIATES LTD.

I read an interesting Editor’s statement in the latest Adweek.  The article was based upon the famous quote from retail pioneer John Wanamaker: “Half the money I spend on advertising is wasted.  The trouble is, I don’t know which half.”

The article goes on to talk about the “tectonic shift to online media consumption” caused by its ability to measure ROI (Return on Investment).  Well, say the editors, it actually cannot measure ROI. “We can count clicks, impressions, unique streams, digital feedback, and online buzz. ..In the furious efforts to measure ROI, we’ve created a quagmire of data that obscures the bigger picture more effectively than it paints it.”

Think about it – you are measuring the number of people going to your site.  What about the other key parts of marketing?  What if you want to “shift the perception of your brand…within a certain demographic?  You are still out of luck.  Branding and all its nuances is really no more measurable than it was” for Wanamaker. 

I’ll go one step further.  How about measuring SALES?  Here is what you really want to know: how much you spent vs. how many sales that expenditure created, and how much profit came of the effort?  First, there is still no accurate measurement for this, unless you do direct marketing (more on that in a moment).  Second there is no way to measure marketing efforts and the sales they created because so many other factors need to be considered: the product; the market; the economy; the sales force; company philosophy; service before and after the sale; if retail, store placement and shelf space; reputation; recent articles; etc.

I always think of an old, classic print ad from McGraw-Hill business-to-business magazines.  It makes the case for advertising in McGraw-Hill publications.  This is perhaps the most famous B2B ad ever created.  It shows a serious businessman in a suit and bow-tie, sitting on a chair and looking directly at the reader.  He seems like a busy decision maker with no time to spare, who is giving you a quick meeting – you have one chance to deliver. Here is the copy:

“I don’t know who you are.

I don’t know your company.

I don’t know your company’s product.

I don’t know what your company stands for.

I don’t know your company’s customers.

I don’t know your company’s record.

I don’t know your company’s reputation.

Now – what was it you wanted to sell me?”

And there you have it in a nutshell.  There are so many facets involved in marketing and selling every product, that you really cannot measure what parts are most important and their payoffs.  The exception is direct marketing (direct mail, actual sales off of a web site, coupon responses, etc.).  And even these media choices and direct sales are based upon the message, how it is written, the company’s image, identity, differentiation, competitive advantages, position (in the mind of the consumer), and brand, plus the quality of the photos and graphics and, in the case of direct mail, coupons, and direct response ads, the quality of the paper itself (the touch, feel, and look of it). 

In other words, everything comes down to your message.  

Please send me your feelings about this blog.

Ed Sucherman

THE MARKETING MACHINE

www.edsucherman.com

http://www.edsucherman.com/edsblog/

 

 

Tags: Advertising, Uncategorized, Websites, marketing message //