Advertising must not only capture the imagination of the consumer, but make them buy the products and services advertised.
On November 26 will see the awarding of the Effie Awards, which evaluate the strategy, creativity, execution and results of advertising campaigns.
"The Effie judges campaigns using an effectiveness index, which evaluates strategy and objectives, creativity, execution and results, which is the most significant part.
Business to business advertisers which objectively measure the return on their investment in online marketing, believe it is more effective than traditional marketing.
According to a report from AMR International, among B2B advertisers who measure the return on their advertising investment, 64% say the Internet is the media which has given them better performance (ROI). Only 32% that do not measure the ROI, expresses the same opinion.
Marketing Managers are applying financial engineering methods to optimize their portfolio of marketing campaigns.
The growing concern from Marketing Managers about return on advertising is making them look more and more like financial managers.
Many millions are spent on advertising (in Central America about $ 1.8 billion per year), usually in a mix of different types of media and to apply expense optimization methods of portfolio investments, will lead to better rates of return on investments.
In this new breed of marketing to the “4Ps” (product, placement, price, promotion) the following been added: flow, functionality, feedback and loyalty (“4Fs” in Spanish).
The Internet, new information management tools and methodologies, combined with globalization, are redefining the way products are marketed.
Cristina Vílchez, writing for Americaeconomia.com, comments that, “new tools are available for companies to use to reach customers.
A modern marketing manager must not only worry for building brand value, as it must also be killed in digital communication and have comprehensive knowledge of the industry.
Future marketing managers will have to speak the same language as the rest of their organization, to be able to understand how their actions fit in a larger whole.
Marketing managers must view the company from a CEO’s point of view, establishing effective communication with salesmen and the other areas of the company, to develop the best possible marketing plans, in an environment of constant change where those with agility and speed of change will prevail.
Online video and display advertising are effective at driving significant uplift in site visitation and advertiser search queries, even in the face of minimal clicks on ads.
Fox Networks and comScore, a leader in measuring the digital world, unveiled the findings of a U.K. study:
-Video and display advertising both successfully increased brand engagement in each of the four campaigns analysed.
Advertising online is not an option anymore but a necessity, and requires stricter planning than traditional advertising.
Every cent spent in an advertising budget must be carefully planned. These are though times, with fierce competition in all fields. Preparing successful advertising campaigns requires a lot of work, and actions in several fronts. A balanced online marketing plan is much more than just spending some dollars on Google’s Adwords.
Much too often, advertising designers emphasize visual appeal too much, forgetting the most important: efficiently communicating a message.
And that translates into wasting money. With the crisis forcing us to reduce costs in every front, we must demand results from our advertising investment.
If they tell you "What a beautiful ad!", and ask you "Who's your designer?", then you should worry.
A great concern for marketing chiefs is how to measure the return on investment of online advertising, especially brand impact.
When reviewing result data of online advertising, one must separate its two basic components:
• Was the target market successfully and effectively reached?
• Did the campaign influence consumer attitudes, perceptions and behaviors in relation to the brand?
Advertising on the web is not only cheaper, it is also much more effective because its impact will be known quickly and it can be changed to optimize it.
Do not spend too much time thinking about “THE big idea” for a campaign. Put different banners on the web in different shapes and sizes, in different mediums, with different ideas and concepts.
Within a week, analyze all the numbers together and find out which banners had the greatest impact. Now simply rearrange your online campaign in accordance with these results.
The first to go will be traditional marketing specialists, who speak only of the brand, buy non- measurable advertising and organize events that do not generate prospects.
These jobs only survived in good times, because the money was plentiful and it seemed not to matter that it was spent unnecessarily.
But these challenging times have created a demand for accountability.