The following is a guest post by Andrew Fischer, Co-Founder and CEO, Choozle
Any quality marketing strategy is an artful combination of creative, distribution and optimization. However, at every turn, there seems to be a new digital medium to understand and leverage. In the past five years alone, we’ve seen the rapid ascent of entirely new digital ad technologies such as programmatic advertising, as well as the rise of multiple scalable media platforms including Facebook, Twitter, Instagram, LinkedIn and Pinterest, to name a few. As the digital environment rapidly evolves, how should the core marketing mix change?
In short order, digital advertising has completely changed marketing strategies. With buyers 57 percent of the way through the purchase decision before even being in touch with sales, marketers are on the front lines now more than ever before, and are often responsible for everything from reducing cost of acquisition to driving measurable top-line revenue.
The increased marketing sophistication across all buyers in both online and offline channels requires an execution of an integrated marketing strategy with the goal to reach your target audience with the right message, at the right time, in the right place. Those goals will influence channel selection as well as what metrics to monitor and optimize. The marketing approach should be primarily driven by your overall goals (branding, direct response, conversion, awareness, etc.) but channel tactics should be tested and optimized to integrate the digital marketing plan with the broader marketing and advertising strategy.
The digital marketing mix can include SEO (search engine optimization), PPC (pay per click), affiliate marketing, display advertising, mobile web and in-app, social media, content marketing, and so much more. Each of these tactics can be leveraged and optimized to maximize the specific goals stated above. Utilizing an integrated marketing strategy is so important, especially since 60 percent of US online adults use at least two devices every day, according to an Econsultancy report.
Recently we worked with a partner to implement an effective integrated marketing strategy that used a combination of paid search advertising and programmatic advertising. When reviewing their results, they found that display advertising outperformed search advertising when comparing the return on ad spend (RoAS). The display ads generated a 12:1 RoAS, whereas our paid search ads came in at 2:1 RoAS. Not only were the revenue metrics better for the display advertising campaign but there was more than double the number of impressions creating an added value of the brand awareness. However, while display advertising outperformed search, using both marketing channels is vital in the overall marketing strategy, which aims to reach the desired target audience during the decision-making process.
Progressive marketers should always be willing to test new marketing mediums, technologies and tactics and be nimble in analysis and reallocation of budgets. Your digital marketing mix doesn’t need to include every strategy and by attempting to “be everywhere” you might end up stretching yourself too thin. To make sure your efforts and marketing dollars are invested wisely, be creative but intentional—and ensure that you can measure and evaluate the results. Flexible planning and execution combined with deft optimization will maximize results and yield the best returns for your digital marketing mix.
Andrew Fischer is the CEO and Co-Founder of Choozle, the leading self-service programmatic digital marketing platform which now powers media execution for over 800+ global advertisers. Connect with him on LinkedIn and @AndrewFischer_1 on Twitter.