Meeting of the Minds webcasts

Meeting of the Minds will feature a world-class group of professors from leading business schools, assembled to share their thoughts and observations from experience in the boardrooms and the classrooms of the world about how marketers can better demonstrate the value marketing creates for shareholders.

Now hurry and sign-up for these free webcasts starting at the end of October and running through till July 2010.

5 reasons marketers hate web analytics

The continuing theme in the above reasons why some marketers seem to hate web analytics is inertia. Many companies suffer from complacency — folks not wanting to make a fuss, not wanting to get at the real root of things. (I have heard web analytics called “the smoking gun” that you can bring to either creative, editorial, or IT depending on the measurement.) This reveals the real strength — and weakness — of web analytics in general. Here is the link.

Emperor’s new cloths torn apart

I am completely and utterly amazed that people can get away with such BS and even get paid for it! Watch for yourself and then read how the bogus is dismantled by following this link to Anna O’Brien’s blog “Random acts of data”.

2009Q1 marketing budget 20% down: ROI time!!!

Forrester put out a report last week:

“Our (Forrester) Q1 2009 Global CMO Recession Online Survey reveals marketing leaders under pressure to deliver results.”

Whether they like it or not, the CMO’s are under a bad moon. Budgets are down seriously by 20% consequently leading to cost-cutting on mass media by 60%. Ouch!!!!

Special attention (bold emphasis by me) for Forrester’s first  recommendation (out of four):

1) The report showed renewed focus on return on investment measures for marketing — this is a healthy development that will help you post-recession. ROI analysis will eliminate, or at least minimize future marketing nonsense.

Do Social Media friends influence buying?

The basic outcome; yes people influence each other through their networks. On the other hand; what’s new? Humans are social animals that live in groups. In this research there are leaders (12%), followers (40%) and laggards (48%). Leaders keep moving on (revenue -14%), the followers imitate (revenue +5%) and the laggards (revenue change 0%), well, just lag unaffected. “Keeping up with the Joneses” is as always the game being played by customers and this can play tricks on your ROI from marketing.

As the researchers point out there is still a lot of groundwork to be done. The last paragraph of their conclusion:

Our findings are relevant for social networking sites and large advertisers. The members in high status group have an influence on those in the middle status group for the diffusion of a new product. However, a successful diffusion in the middle status segment may make high status members lose interest in the new product. This interplay of product diffusion and customer segmentation leaves much room for future research.

To my knowledge this is the first scientific research done on the effects of social media in terms of revenue effects. The  research and report “Do friends influence purchases in a social network?” is crafted out by Raghuram Iyengar, Sangman Han and Sunil Gupta. It is a free download from Harvard Business School.

10 Things Your CFO Should Know About Measuring Marketing Effectiveness | MarketingNPV

10 Things Your CFO Should Know About Measuring Marketing Effectiveness | MarketingNPV.

Een hechte relatie met Finance is niet bepaald gangbaar in de meeste organisaties. Waarom daar meer aandacht voor zou moeten zijn en welke agenda je zou moeten hanteren wordt in dit artikel uitgelegd. Het is natuurlijk logisch als je het hebt over de feiten van Marketing en de financiële consequenties voor de ‘bottom line”.  Je kunt er meer budget door krijgen!

Profit Driven Marketing

From one of the best consultancy agencies (Booz) this new book is published. It offers a framework for implementing processes and structures within companies that aspire to reap the best profits through ROI Marketing.