Direct-to-Customer Commerce

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Strategic insights into the direct commerce industry, including ecommerce, direct marketing and related fields

How to improve the ROI on your marketing expenditures

Try to eliminate marketing expenditures, which reach non-buyers.

A huge percentage of your marketing expenses reach people who will never buy your merchandise or services.  While you may be able to ignore that fact, if your profit margins are high enough, you’ll do better if you know how to avoid spending marketing dollars sending your message to people who are not interested or have rejected your products.

We read a lot in the trade press about how to identify prospective buyers.  Maybe we should spend some time thinking about identifying known non-buyers.

If you can eliminate non-buyers from your target audience, the ROI on your marketing expenditures will automatically improve.

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Filed under: Direct Commerce, Ideas, Opinion, , ,

The State of Social Marketing — a report

Awareness Social Media Software has just released a set of three white papers under the heading of The State of Social Marketing.  You can register and download the reports at their web site.

Of course, the purpose of the reports is to promote their Social Marketing Hub, an integrated solution for social media marketing management.  I’ll leave you to evaluate that.

However, these reports are pretty interesting reading.  And informative.  They’re worth a look.

Overall, the reports tell me that social marketers still have not figured out what this is about.  There seems to be a tendency to measure things that are relevant to social media, but not relevant to increasing sales.  One of the reports, entitled “New ROI Framework” presents some real world formulae for calculating meaningful measurements of social media.  Very useful.

I continue to believe that too many businesses engaged in social media don’t know why there are there … they just believe they need to be there.  Which is probably true, but without a rationale and strategy — a point-of-view — a business can spend a lot of money without knowing the value.

I continue to believe social media should be viewed as private publishing — subscribers, content/editorial, advertising — it’s all under your own control.

Developing content may be the most difficult for a business to get their hands around.  But just as in any publishing business, content is the reason for the channel’s existence — from a business’ point of view.

Filed under: Ideas, Opinion, , , , , , ,

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