Archive for April, 2016
Let’s be honest. Marketers are obsessed with turning every possible phrase into an acronym. Having said that, sometimes we use these acronyms with only a general idea of what they are about. Let’s take the mystery out of some of the most obscure acronyms in our industry.
Let’s start with an easy one: CPM. That’s cost-per something, right? We use it without even being sure what the M stands for, and we get away with it because most of the people we are talking to don’t know either. The fact is that CPM means cost per thousand. The M stands for “mille,” the Latin word for thousand.
HTML is another one we understand well enough to use without having any idea what the actual letters stand for. If you quizzed most marketers, they would get close. L obviously stands for language. So we basically use this as the language web pages are written in, and leave it at that. The rest means hypertext markup. And don’t confuse this with XML, even though the last two letters mean the same thing. We take the X from the second letter in eXtensible for that one. XML is important because that’s the stuff of RSS feeds. Ah, RSS is another good one!
Unfortunately, the acronym RSS has multiple correct meanings. To avoid confusion, we like to stick with Really Simple Syndication. After all, that’s what RSS actually does. However, when the acronym was first coined, it referred to RDF Site Summary – although you’ll probably never need to know that unless it comes up on the Jeopardy game show.
Now, we get into a meatier acronym. Analytics rule the digital marketing world, and that makes KPI a vital acronym. We treat KPIs like they are the objective, whereas they are actually a metric upon which you base your objectives. KPI stands for Key Performance Indicator. This identifies a metric as one that is vital to business growth. For example, an app developer may establish download count as a KPI. The goal they are striving for is number of downloads, not the KPI.
Yes, we use a lot of these acronyms without knowing what they mean. Sometimes we still get the right idea across, but “close enough” doesn’t count if you are dealing with someone who actually knows all the acronyms, so studying up can avoid a big miscommunication.
|No comments||This entry was posted by EIC Social Media Team on April 27, 2016 at 4:30 pm, and is filed under Marketing Strategies. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
Ad fraud is a hot topic in the digital marketing world. Add that to major concerns like visibility, ad blocking, and ad waste, and it almost seems crazy the way digital ad budgets continue to rise so sharply. The fact is that despite the challenges, digital advertising is still the future. So the only real question is how to move forward despite the potential pitfalls.
Factors That Limit Growth
Make no mistake, despite increases in industry figures, the murky waters of digital advertising are still limiting the amount of money businesses are willing to sink into online campaigns. And the problem is really being exacerbated by both sides. Advertisers clamor for transparency and a desire to create more relevant ads that intrude less on user experience, while at the same time, publishers see their profits cut by ad fraud and other intangibles.
So if advertisers and publishers alike are both in the dark as far as how much money could actually be made if all of these issues went away, where do we turn to implement industry reform?
The Role We All Play in Advertising
Every aspect of the marketing industry has a role to play in fixing the problem. As advertisers, our first responsibility has to be to the consumer. And ultimately that is in our best interests anyway. If you hit the right audience with the right ad during the right moment, you maximize your profitability.
For publishers, it is all about regaining the trust of advertisers. And, again, this benefits everyone. Reputable publishers will make more money because advertisers will have more to spend. Better-performing publishers mean better-performing campaigns. When campaigns do well, everyone benefits because advertisers don’t feel the need to push quantity instead of quality. Goods ads in the right place at the right time increase conversion rate. Higher conversion rate means the consumer gets bothered less frequently by intrusive ads.
Of course, this isn’t going to happen overnight. On the plus side, when something is to everyone’s advantage, the likelihood of it happening increases. As transparency gives way to better advertising, consumers, advertisers, and publishers all get what they want.
|No comments||This entry was posted by EIC Social Media Team on April 20, 2016 at 4:30 pm, and is filed under Online Advertising. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
If you want to maximize the profits of your online retail business, a couple of things are absolutely necessary. Let’s take a look at the importance of mobile—and the need to promote special offers and discounts in the right manner and at the right time.
Mobile Is the Only Way
Mobile isn’t just your best chance at making it in online retail; it’s the only way. Two in three customers shop online, and many of those customers are using smartphones and tablets, which means a few things for your store.
- Mobile Responsive Site – Your site has to work across devices and platforms. If the site loads too slowly, isn’t optimized for mobile, or bogs down when users go to their cart on a mobile device, you can kiss that sale goodbye. No one is going to put down a phone and walk over to a desktop to complete a purchase. They will find a competitor with something comparable for sale.
- Mobile Application – Providing a mobile app for even easier mobile use is another great way to increase online sales. Again, the app must be cross-platform and be able to perform on various devices. Screen size should not affect the user experience. Images need to be high quality, and the app needs to be simple to use – especially when completing a purchase. Otherwise, you will see many items left in carts.
Online Promotions and Special Offers Need to Drive Profit
The ways you decide to provide offers and promotions should depend on how your target audience wants to receive them. A simple email to remind a customer that they left something in the cart may be enough to get someone to come back and complete a sale. Perhaps the item has now gone on sale, making this a great time to remind a customer she was looking at something. Does your customer often make purchases at a certain time of day or a particular day of the week? Sending a special promotion that specific day or time will make it more likely for the consumer to open the email, follow the link, and make a purchase.
|No comments||This entry was posted by EIC Social Media Team on April 13, 2016 at 4:30 pm, and is filed under Mobile Marketing, Online Sales. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
We are continuing our list of the current trends in the digital marketing world. See if you agree that ads are going in the following directions.
Your Marketing Should Tell Us a Story
The consumer has spoken, and we are listening. People want to be taken on a journey that tells them about your brand. Ads that highlight brand values continue to gain momentum.
Tell Us a Story, in Segments
People love to binge watch their TV, but they don’t seem to mind a cliffhanger ad that continues later on. Releasing ads in little mini episodes is really starting to take off, especially since the average viewer is clamoring for shorter and shorter ads. Sure, write that perfect 30-second ad spot, but then split it in half—and consumers will eat it up.
Efficient Ad Buying
Last time, we mentioned programmatic moving into the world of TV ad buying, but we also need to give it an honorable mention here. Programmatic ad buying already has its fair share of the market, but it’s a very efficient process that’s likely to become even more popular.
Did Someone Say VR?
Virtual Reality is starting to become a more attainable experience. As more households begin to have a VR device, you can bet ads will become a part of that immersive world. After all, the advertising possibilities become endless in that medium.
Watch Out for the Blocking of Ads
The fact is that ad blocking won’t end the benefits of online video advertising. While maladvertising is pushing the trend to block ads to a whole new level, plenty of consumers are still willing to watch ads in order to ensure that their favorite free content doesn’t become premium content with a monthly price tag. The key for advertisers is to reach the user’s emotions with digital ads so as to create an atmosphere where people feel like they are missing out if the ads are not there. The secret to overcoming the ad-block phenomenon is to produce better ads that people don’t want to block.
So there you have it. We’ve discussed some of the biggest trends in the digital marketing world. What do you think? Are there marketing trends that should have made the list that didn’t? Comment below and be heard!
|No comments||This entry was posted by EIC Social Media Team on April 6, 2016 at 4:30 pm, and is filed under Digital Advertising, Marketing Strategies. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|