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Showing posts from May, 2012

The Hardest Question You Can Ask a Marketer

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Tough Question "What would you do if I gave you another dollar?"
That's the hardest question you can ask a marketing professional. The answer varies for every business and it's difficult to figure out. Invest in a better customer call center? More ads on Google? A new direct mail piece? An ad in a trade magazine?
The question is so difficult because most marketers don't know the value each dollar across their different marketing channels (that's called return on investment). An entire industry within marketing called attribution modeling seeks to solve this problem. Yet, far too few marketers have attempted to tackle this problem.
Solving it starts with gathering consumer data. At a minimum, it requires excellent website analytics and a flexible customer database. The best companies are able to gather consumer data across channels and build models to know how to spend that extra marketing dollar.
The One Dollar Challenge It would be fun to gather stories of where m…