Why your previously successful marketing will soon no longer work
Posted: Wed Dec 04, 2024 10:08 am
Do you know the return on investment of your marketing expenditure including wage costs? Do you know why your previously successful marketing will soon no longer work? Today's CEOs' expectations of marketing are the same as for every department, but how can you meet them in the future? More and more CEOs have become accustomed to transparency and expect numbers, data and facts to show where the marketing franc, including wage costs of the marketing department, also leads to inquiries or sales.
Measuring marketing ROI is particularly challenging in B2B due to the long sales cycles. Many have also become accustomed to 1990s technology such as cookies, which will soon no longer work: Worldsites Managing Director Beat Z'graggen explained at the SME Success Congress how to achieve greater transparency about marketing ROI despite fewer cookies and what will specifically change.
Do you want to know why many of the statistics you receive from Google, agencies or others are misleading? Do you want more transparency about where marketing dollars lead to inquiries and sales?
Marketing ROIFrom 2.77% to 4% Marketing ROI in B2B
In today's business world, marketing is expected to deliver ROI. As an example, a marketing manager was mentioned who had to increase the marketing ROI including personnel costs from 2.77% to 4.0% within one year . This was in a service company with sales cycles of several years.
In the B2B field in particular, it is becoming increasingly difficult to show such figures and present them correctly. In Switzerland, unlike abroad, most companies are still at a point where they ignore personnel costs and concentrate on campaign ROI (ROMI). Most of the time, they only show how much revenue was generated by the campaign budget. The margin or wage costs, internal or agency costs are often not taken into account.
Before you can really talk about a marketing ROI, the entire marketing budget, including personnel costs, must be put in relation to the profit the company has made as a result of the marketing investment.
marketingTrend towards online continues to rise
An analysis by The Sunday Times shows how less and less is being invested in traditional media and how performance-oriented online marketing measures have progressively received more budget (see also Global spending on online advertising: Google dominates ). This trend will continue to grow, because where marketing ROI is required, these online measures perform massively better than traditional offline measures. At the same time, there are so many options for what, how and where you can invest online that the question remains: where is the best investment ?
Global ad spend of various channels between 1992 and 2020. Source: The Sunday Times
marketingTracking becomes more difficult
In recent years, more and more hurdles have developed that have made it Argentina Phone Number Resource difficult to measure marketing ROI. This development began after Edward Snowden revealed how Google cookies can be used to make a person transparent. This had some effects that helped the EU, GDPR and other restrictions break through.
Since 2015, it has become increasingly difficult to track the opening rate of emails. Despite this, many tools still indicate how high the opening rate of emails was. However, the opening rates shown are now based on such a small proportion of users that the question arises as to whether they still mean anything at all.
The situation with cookies has become even more serious, especially since Google announced that cookies would be deleted in Chrome and Apple has even severely restricted first-party cookies . Simply relying on alternative technologies such as fingerprinting or single sign-on, which will only be available for a limited time, is not a long-term strategy either.
marketing
Measuring marketing ROI is particularly challenging in B2B due to the long sales cycles. Many have also become accustomed to 1990s technology such as cookies, which will soon no longer work: Worldsites Managing Director Beat Z'graggen explained at the SME Success Congress how to achieve greater transparency about marketing ROI despite fewer cookies and what will specifically change.
Do you want to know why many of the statistics you receive from Google, agencies or others are misleading? Do you want more transparency about where marketing dollars lead to inquiries and sales?
Marketing ROIFrom 2.77% to 4% Marketing ROI in B2B
In today's business world, marketing is expected to deliver ROI. As an example, a marketing manager was mentioned who had to increase the marketing ROI including personnel costs from 2.77% to 4.0% within one year . This was in a service company with sales cycles of several years.
In the B2B field in particular, it is becoming increasingly difficult to show such figures and present them correctly. In Switzerland, unlike abroad, most companies are still at a point where they ignore personnel costs and concentrate on campaign ROI (ROMI). Most of the time, they only show how much revenue was generated by the campaign budget. The margin or wage costs, internal or agency costs are often not taken into account.
Before you can really talk about a marketing ROI, the entire marketing budget, including personnel costs, must be put in relation to the profit the company has made as a result of the marketing investment.
marketingTrend towards online continues to rise
An analysis by The Sunday Times shows how less and less is being invested in traditional media and how performance-oriented online marketing measures have progressively received more budget (see also Global spending on online advertising: Google dominates ). This trend will continue to grow, because where marketing ROI is required, these online measures perform massively better than traditional offline measures. At the same time, there are so many options for what, how and where you can invest online that the question remains: where is the best investment ?
Global ad spend of various channels between 1992 and 2020. Source: The Sunday Times
marketingTracking becomes more difficult
In recent years, more and more hurdles have developed that have made it Argentina Phone Number Resource difficult to measure marketing ROI. This development began after Edward Snowden revealed how Google cookies can be used to make a person transparent. This had some effects that helped the EU, GDPR and other restrictions break through.
Since 2015, it has become increasingly difficult to track the opening rate of emails. Despite this, many tools still indicate how high the opening rate of emails was. However, the opening rates shown are now based on such a small proportion of users that the question arises as to whether they still mean anything at all.
The situation with cookies has become even more serious, especially since Google announced that cookies would be deleted in Chrome and Apple has even severely restricted first-party cookies . Simply relying on alternative technologies such as fingerprinting or single sign-on, which will only be available for a limited time, is not a long-term strategy either.
marketing