Marc Duke, Marketing Consultant Marc Duke Consulting, tells us why measurement is so important in marketing.
Why brands are getting tangible results from advocate marketing but need to do more.
And how it’s essential that consumers are targeted in the right way, especially with the all-pervasive rise of technology.
Where are your clients' budgets currently going?
It depends on the context and where their customers are based – if it’s high B2B spend the focus is much more on earned. If it’s more consumer driven, it’s more paid. We’re trying to keep the cost of acquisition down, with earned we’re trying to reduce that cost.
The beauty of paid is it’s so trackable, quantifiable and measurable. By using paid, I’m almost completely reducing the risk because it’s so programmable – it’s quick – you know what you’re going to get.
Adblocking is a concern though. Consumers are getting much more savvy and millennials are making purchasing decisions in a new way.
There’s still a lack of trust in terms of peer reviews. There’s more work brands need to be doing to get advocates on non-branded platforms such as Amazon, Trust Pilot, Trip Advisor.
Brands could have people in these spaces.
What type of advocate marketing activity do you see brands undertaking?
Sony is the best example – they invest hugely. They have power gamers and spend tens of thousands each year per power user. They can quantify that in terms of sales.
They can track people posting/blogging on different forums. They see this crucial to the business and fundamental to their marketing.
How do you think this will change in 12 months and why?
Many brands have been slow to see the value because they still don’t understand the impact of tech on relationships. They don’t understand two people can have a direct relationship with a brand, which was not possible before.
I think it will gradually change. The challenge of major brands is the new tech is an endless arms race – and new tools are creeping up all the time. The challenge for any brand is to understand who are my customers, where do they live, how do I target them? Tech is more pervasive than ever before.