Apparently, most marketers still think that one-night stands are better than long-term relationships:
According to the accompanying article,
“Nearly three-quarters of companies have guidelines to measure the success of their marketing programs, and for one-half such measurements are a requirement for obtaining marketing funding.”
This statement implies that more than 25% of the marketers polled don’t measure marketing success in any way.
To make matters worse, the majority of those who do measure their marketing see new acquisitions as the ‘best’ indication of success.
I don’t understand; it’s no secret that nurturing existing customers delivers better ROI than trying to attract new ones all the time.
I recognise that growing the customer base is important, but surely their retention, or even satisfaction, gives a better indication of marketing success?
Oddly, in the same article, the report’s author notes:
“Marketers have been aware of the effectiveness of building relationships and trust with content since long before the Internet…”
So why are those same marketers ignoring opportunities to build relationships, and instead resorting to transaction-based, ‘groundhog’ marketing?
Perhaps it’s not just ad measurement that needs to evolve; perhaps it’s all marketing measurement.
Then again, maybe the real problem is a lack of understanding of fundamental marketing principles.
Maybe it’s time to go back to basics…