The
title of my book - Why Does It Make You
Want To Buy Something? is meant to
be a reminder for marketers that good marketing sells stuff. That is its purpose. If it doesn't sell stuff then someone gets
fired - usually the agency. Or the
company goes under.
So why
aren't companies aligning incentives with sales goals?
According
to TrackMaven's 2017 Marketing Leadership Survey, despite the fact that 61% of marketers
say their top objective is to increase sales, only 23% of compensation is based
on revenue. Instead marketers are being
evaluated based on engagement (91%), consumption (82%) and audience growth
(78%) despite the inability to show any correlation between these measures and
sales growth. (Loechner, 2017)
Yes,
that's right. 71% say their top
challenge is attributing the revenue impact of social and content
marketing. (Burney, 2017) So why assume that it is having any positive
impact on the bottom line at all?
It wasn't
such a big deal when digital costs were low, but these days a premium Instagram
campaign costs $1 million. For that
amount of money you could run a solid month of advertising on network
television, which is still the most effective marketing medium. And since Americans 18-24 are watching 15
hours and 36 minutes of traditional television a week, you won't lack
opportunities to reach them. (2017)
No
wonder I just saw a commercial for Harry's.
Loechner,
J. (2017, May 4) mediapost.com. Misalignment
Of Incentives With Goals Plagues Marketers.
Retrieved May 5, 2017, from
Burney,
K. (2017, April) What Marketing Leaders Think About Strategy, Technology, and
Data-Driven Change. trackmaven.com. Retrieved
May 5, 2017, from
(2017,
April 24) The State of Traditional TV: Updated With Q4 2016 Data. marketingcharts.com. Retrieved May 5, 2017, from
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