Good afternoon and happy Tuesday!
Welcome to the fifth edition of Ovative’s marketing/tech news digest – where we hope to keep you up to date on all things new and exciting within Marketing, Measurement and Technology.
Always informative, sometimes entertaining. Enjoy.
Fodder for the water cooler: Did you know that Ovative/group has a “cool office”?
Is Brick-&-Mortar Dead | The Atlantic | 2016
Quick pitch: Just like Wikipedia’s list of 166 cited predictions of the world’s end, the brick-and-mortar apocalypse scare may be a little farfetched…
Now I want the details: There has been plenty of hype about physical retail becoming a thing of the past. We’ve all seen the stats on the decrease in average square feet of new retail, holiday foot traffic, and the increase in showrooming (a customer researching a product in store and then purchasing online). What’s surprising, is that slightly more consumers engage in webrooming (a customer researching online, then purchasing in store) than they do showrooming (70% vs. 68%). These customers, especially in urban areas, compliment the decrease in store square footage by not needing to peruse aisles. They come in knowing what they want. Encouraging customers to buy online and pick-up/ship to/return to store will drive satisfaction and promote all channels new and old.
What we’re thinking: This is why we’re in business. Customers experience both brick-and-mortar and online, often at the same time. However, tracking the journey your customers take through introducing, influencing and closing (or exiting) channels is a little like wrangling an octopus. It’s more important than ever to make sure you have a holistic view of the way your customers are interacting with your business. Attribution models, testing and measurement give us the best tracking capabilities available – but, at the end of the day, this granular customer detail will place the onus on each organization to understand their customer and cater to them individually.
Getting Beyond Primitive Attribution Modeling | MediaPost | February 1, 2016
Quick pitch: We know last-click is out of style and everyone’s on board the cross-channel attribution train. But, now what?
Now I want the details: Over the last 10 years, last click had its time in the spotlight but then began dying a slow death. Although last click was far better than “media evaluation” from folks like Nielsen, cross-channel attribution came in with a far superior value-prop. Cross-channel attribution is no longer a luxury, though. It’s becoming a standard. What is a luxury, is a cohesive and consistent strategy to deliver value with this new wave of more granular information. Winning marketers in the future will have a deep understanding of their existing technology, what else is in the market, how that can be leveraged by big data science and how to stick to their strategy.
What we’re thinking: We see the Gartner hype curve working exactly as predicted. Most of our clients are in or around the phase of rubber meeting the road – it’s not easy. Putting in new systems that stress the status quo and deliver potentially controversial insights is difficult, but it’s what these tools were meant to do. Our approach is similar to the MediaPosts’ methods in that a combination of technology, clear roadmaps, interdisciplinary-expertise and data security unlock the greatest potential for each client. So, what may look like a crashing train, at times, will definitely send you into the future…
US Paid Search Declines – First Time in Six Years | Econotimes | April 11, 2016
Quick pitch: Paid search spend, in the U.S., dropped a full 5% YOY in Q1. Not to be confused with classic term ‘drop the full five’.
Now I want the details: Yesterday, IgnitionOne (global cloud marketing leader) released its Q1 2016 report. Highlights include: a decrease in search spend (being blamed on drop in CPCs in mobile and poor financial markets this year), mobile impressions/clicks are crushing it (up 73% and 86%), programmatic display rose 10% YOY with spend through Facebook growing 51% YOY while spend through Google dropping 10% YOY.
What we’re thinking: Keep calm and carry on. Fluctuations in pricing, competitive bidding and overall trends in paid search advertising will persist in the future. When “the market” is ‘on sale’ don’t be too quick to jump on the purchasing band wagon. Keeping a consistent marketing/messaging strategy allows a regular cadence of touchpoints with customers. Playing into market ups and downs will not bring victories in the long-term. We closely monitor trends in technologies and capabilities that are out there (like, who’s doing a better job at programmatic – the Book or the Googs) to ensure long-term customer engagement success vs chasing short-term cost savings.
Finally – for all you west-coasters out there: 228 years ago, today, Cape Disappointment got its name when John Meares rerouted his ship and missed the discovery of the Columbia river. Probably couldn’t see it through the fog… the cape gets over 100 days of it a year…