Do Marketers Want ROI or Just CYA?
Tracking the Bingo lead.
This entry is for PWLA (people who like acronyms). Many marketers (at least in tech, when I am) chant "R-O-I, R-O-I, R-O-I" whenever a salesperson is present. And woe to the salesperson that wants to talk about PRINT! They claim to need Return On Investment, and of course the only way to provide that is with online marketing (measuring clicks, click-thru percentage and lead generation). Marketers want a Silver Bulletâ€“something that turns their art into a science. They think theyâ€™ve found it. Until you start asking questions.
Remember good-ole Bingo cards? Oh, I meant â€śReader Service Cards." How did we handle claims that another magazine outpulled ours? You broke them down with questions. What is the quality of the leads? How closely do they track results? If someone calls in six months later, do they link that back to the Bingo lead? In 90 percent of the cases, the marketers did not track leads adequately.
Same is true today with online marketingâ€“at least with smaller or medium-sized companies. They donâ€™t track whether the clicks became leads. Or later, sales. Their salespeople only follow-up on a lead once. The leads donâ€™t get followed up on at all. Nowadays, many marketers simply have a number of leads they must generate per quarter. Period. If those leads donâ€™t turn into sales, well, thatâ€™s the sales teamâ€™s fault. So, many times, when they tell you they want ROI all they really want you is CYA (Cover Your Ass). You should call them on it. And when you do, you can introduce another acronym to them that will also open the door for you to sell them badly needed print advertising. Itâ€™s ROMO, and weâ€™ll talk more about that in the next post.
-- Ted Bahr founded BZ Media, a technology-focused media company, with Alan Zeichick in 1999. Before that, Ted held numerous positions at Miller Freeman, finally as a Group President and member of the Board of Directors. At Miller Freeman, Ted launched 8 magazines, plus many conferences and ancillary products. He has managed magazines in many markets including computers, electronics, music, video, travel, real estate, interior design and manufacturing.
Post Comment / Discuss This Blog - Info/Rules