Marketing ROI: Why data is important

I can't tell you how many times I've worked on a project with bad data. It seems that no matter what size company, there are always gaps in the quality and level of data. Aren't we living in the information age?

The problem is that information is usually not tracked, updated or there is no sensible plan to manage it. Even my smallest clients seem to have a database. Unfortunately, time and time again it usually winds up being nothing more than an expensive Roladex. Under utilized and mismanaged, bad data management limits the ability to make sound Marketing decisions. Your sales team may have front line access to client needs, but can you back that up? A reliable database would help provide reporting to at least get you asking the right questions.

Another area that is problematic--tracking Marketing or PR programs. Do you know the lifetime value (LTV) of your client base? What is the response rate for the last campaing you ran? What is your definition of click thru? If you are not testing and tracking, you are wasting valuable time and money on a program.

Don't put your ROI at risk. Make a plan now.

An Old Story: Marketing or PR?

For the past 10-15 years, there has been a big merger of PR and Marketing. As this blog is entitled, "Integrated Marketing Communication" has evolved into a strong strategy for those who use it. Of course, there are still those organizations that STILL divide up PR and Marketing functions. They may barely even talk with one another, let alone coordinate efforts.

When I teach my PR class, I tell students about the benefits and trappings of integrating functions. Most of the time it is an advantage. Branding (Marketing) and image managment (PR) are a natural fit. Product launches or advertising can benefit from leveraging the PR side of the equation. Sales driven events often need PR support, as well. Now with the emergence of Web 2.0, blogs, streaming media and RSS feeds serve as both a PR and Marketing tool.

On the negative side, PR credibility and public interest can be watered down by Marketing efforts. So management must be reminded of the delicate nature of integrating functions.

http://adage.com/columns/article?article_id=115531

Branding: Who are you?

I always tell my clients to start with the Marketing basics. If you don't have a solid foundation, then anything you try to execute is going to crumble. With that said, branding is the essence of the organization. It starts with your corporate culture and mission. Then it extends into goals, communication, and visual identity. And, it extends to your employees and how they approach clients and deliver products or services.

Best Buy, Disney and Starbucks at some point have all had strong branding. There is an "experience" associated with them. That is the ultimate in brand gratification. However, the key is ensuring that it is lasting over time. Sometimes this brand "experience" gets pushed aside for the sake of growth, profitability or ego.

Small and mid-size businesses can benchmark these same strategies. In fact, once they develop a branding strategy, it may be easier for them to execute on it. Larger Fotune 500 organizations have so many layers that it often becomes a challenge to manage brand identity successfully.

Look at the recent problem at Starbucks. The CEO wrote a memo to employees that the brand had lost some of its appeal. His comments reminded staff that success is not an "entitlement." Good reminder to us all.

http://today.reuters.com/news/articlebusiness.aspx?type=ousiv&storyid=2007-02-23T221445Z_01_N23333341_RTRIDST_0_BUSINESSPRO-STARBUCKS-SCHULTZ-DC.XML&from=business

http://pqasb.pqarchiver.com/wsj/access/1222065041.html?dids=1222065041:1222065041&FMT=ABS&FMTS=ABS:FT&date=Feb+24%2C+2007&author=Janet+Adamy&pub=Wall+Street+Journal&edition=Eastern+edition&startpage=A.4&type=8_90&desc=Starbucks+Chairman+Says+Trouble+May+Be+Brewing

PR Online: Reputation Management

Web 2.0 is a major influence in Marketing and PR image management. From branding to crisis--blogs and other personal editorials on the Web have become a major issue for us Marketing folks.

One interesting turn of events is the online rumor mill. Yes, it sounds like high school, but the fact is people spread silly rumors which can impact the bottom line. One claim reported the P&G CEO went on TV and said he donated company profits to a Satanic organization. According to a Seattle Times article, one major source of correcting the problem was that the TV show stated the CEO never appeared on their broadcast. So, ultimately PR 101 works in the online world--with a twist. Get the truth out, but wait until the issue is becoming mainstream. No sense in publicizing something that only 12 people read. Use legitimate and credible sources to state your position. They may include websites, traditional media and even reliable bloggers.

Most of all, keep an eye out for what is being said about your organization online. You can't manage what you don't know. Surprises in reputation management are generally not positive.

http://seattletimes.nwsource.com/html/businesstechnology/2003599488_rumors04.html

Where is print headed?

Here is a thought. One I'm sure many of you have too. With the advent of mobile marketing, Web 2.0 and such...what is the fate of traditional Marketing Communication?

Newspaper readership is down. The children of today have grown up always knowing the Internet. More and more, companies direct potential clients to their websites instead of providing folders of Marketing materials. Yet, many of my clients still want traditional marketing materials. Junk mail is piling up in my mailbox. My recycling can has tons of paper in it.

For the short-term, I believe the Marketing mix will still contain plenty of collateral. The next 10-15 years may be a different story, however. While paper may not make a complete exit, it will most likely be reduced to a small percentage of Marketing efforts due to improving technologies, efficiency and environmental awareness.