Does your weekly marketing reporting dashboard still looks the same with acronyms like CPM, CPC, CTR etc.?
Are the strategic discussions in your marketing team still hovering around reducing cost per acquisition?
If any of the above is true, then you should definitely fire few people or the agency because the world has moved on from these archaic goals & matrices. With the tsunami of smart devices hitting the shores of our digital world, there is a massive change in the adjacent marketing landscape. Last I heard:
PC sales were at an all time low & following a negative growth trend,
Smartphones & Tablets sales was expected to overshadow PC sales by the end of 2013 (read IDC report on Connected Device Projections by 2017 & Tablets sales forecast)
Google had started doing mass production of its next generation wearable tech Google glass - Read this
And guess what , in the middle of all this phenomenon change, your client servicing & digital marketing teams are still discussing about how to optimize your cost per acquisition.
Frankly speaking, it is not your mistake, most of the digital teams around the world are still obsessed with making your brand a super successful social brand on the Facebook, twitter & pinterest but deep down inside your heart says that all this is nothing but a wild goose chase. Having said that, I am not out-rightly denying the importance of these tried & tested cost effective marketing tools. It is just that the thought process needs to adapt with time.
In my opinion, mobility will soon force the brands to change their brief to the servicing teams so that they can successfully achieve the long term marketing objectives. Ideally, the new brief would surely have below 2 components:
- Find out ways to catch & engage with the target audience while they are on the move. In short, make the brand adaptive to mobile environment.
- Optimize the marketing plan across all current & foreseeable devices (PC was yesteryear story, Mobile & Tablets will easily cover next few years. This is very important because off late pace of growth in the digital device industry has just gone exponential. Keeping the integrated Acquisition, Engagement & Retention plan ready which is connected across all devices & platforms would become the next big thing among brands( Read about Cross Screen Marketing )