During the Hermitage, Use Only Proven Marketing Techniques

When advertisers pull back during a war they lose longterm share to the advertisers that stay around And that39s what this is a war We are being attacked by foes too small to see So staying home has become a popular first line of defense We thought we were seeing insanely fast change before but this period of isolation and quarantine is accelerating media consumption There will be higher consumption of free home entertainment not just news which will grow revenues the mostThe shrinkage that Myers projects is a pullback in marketing which has always seemed like the fluffiest least defensible thing to most Csuites As such it39s often among the first line items they cutWhy would they think marketing is fluffy Because it is known to use unproven techniques that would never happen in any other part of a corporationThe media that will thrive in the hermitage besides news and free TV will be those that have been proven to specific advertisers These media brands will not lose those advertisers In fact they will gain more advertisers and thrive because those media make sure there is proof of performance and resultsThe fluffy ones will sufferOn the brand side who shall thrive and who shall sufferMarketers who depend on proven data will align with the proven media in a winwin partnership through which all will thrive Because they believe in and deliver proof of performance those marketers will thrive during this period of hermitageMarketers who have not validated the data and methods they depend on will sufferThe best way to prove validation to the Csuite is by pointing to cashregister measures that line up perfectly with marketing science ie showing the money Marketers who do that will thrive Marketers whose numbers do not align with the actual known sales who do not pretest an idea and then scale up Darwinianly will sufferWe39ve been relying on unvalidated audience and efficacy measurements amp8212 the best of it is audited but not validated amp8212 for too long Companies that have sought actual thirdparty validation are still rare But when things are tight methods have to be tightI recommend that you rate your methods one by one and rank them by how dubious they are From there decide where to cut And then reinvest in tighter more proven methods that have been confirmed by a disinterested third party amp8212 preferably more than oneLook forward to tight new initiatives from the ARF and the other forwardleading collaboration platforms In my mind these moves will fall under the rubric proven quotProfiting from Rigorous Operations Validation Empirical NaturalquotWhy natural To signify that the main data type will be naturally occurring such as settopbox data log files and frequent shopper cards The objective will be to validate the data against what the company knows its true sales to beAnd with the validated data types and validated techniques for creativemedia planting and harvesting marketers will never again be perceived as fluffy amp8212 except in our long tailDon39t stop now Stay in the know on advertising trends and ROI strategies with more from Bill HarveyClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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During the Hermitage, Use Only Proven Marketing Techniques

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Bill Harvey

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During the Hermitage, Use Only Proven Marketing Techniques

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