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1 Minute Advice: 5 Key Marketing Metrics to Track

Here are five key metrics every marketing executive should track, according to MarketingProfs:

1. Return on Investment
2. Customer Acquisition Cost
3. Conversion Rates
4. Customer Lifetime Value
5. Social Media Reach and Engagement

Read about each of these in more detail here: 
https://www.marketingprofs.com/chirp/2023/49296/metrics-every-cmo-should-be-tracking-infographic?

(Free registration required)

 

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: How to Create Effective Website Content

A recent article in MarketingProfs covers five important tips designed to help you "write and organize your website content so that it fulfills best-practices for on-page search engine optimization, pleasing not only search engines but also users."

 

Here are two excerpts from the article:

 

"Format your content for success. Large blocks of text with few-to-no breaks in paragraphs are often difficult to read, and they can turn people off from continuing to read. A well-structured page both supports SEO value and makes content easier for people to enjoy by clearly defining sections and messaging."

 

"Link internally to build your authority. A smart internal linking strategy helps search engines find your pages, understand the relevance of your content's topic, follow your intended page hierarchy, and calculate page authority. Internal linking can also give you more control over the path users take on your site."

 

To read more about the above two tips and get access to the entire article, visit: https://www.marketingprofs.com/articles/2023/49220/tips-for-writing-web-content?

(Free registration required)

 

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: How Marketing & Sales Should Collaborate

Only 29% of marketers are very confident in their current sales and marketing model/alignment, according to a study by the CMO Council in partnership with KPMG, as reported by Marketing Charts. Only a minority say that marketing and sales jointly own and implement customer strategy (39%).

 

While there appears to be room for improvement in marketing and sales alignment, respondents do indicate that each team is getting involved in the other’s strategic considerations. For example, when it comes to customer segmentation and targeting by marketing, 63% of respondents said that sales takes an active involvement. Marketing is most actively involved in the sales activities of sales enablement (61%) and upselling and cross-selling (61%). Half (50%) report that marketing teams are involved in sales strategy and planning, while close to half say marketing takes a role in account planning (47%) and opportunity management (47%).

 

Read more about this study at Marketing Charts: https://www.marketingcharts.com/business-of-marketing/internal-collaboration-229363?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: What the Latest CMO Survey Reveals

After rising to the highest levels in the last 15 years, marketing budgets dropped back to pre-Covid numbers, according to new data from The CMO Survey.

 

The biannual poll, a collaboration between the American Marketing Association, Deloitte, and Duke University's Fuqua School of Business, was conducted in March 2023 and collected responses from 314 marketing leaders at for-profit U.S. companies.

 

The findings show a return to pre-pandemic levels for marketing expenditures as a percentage of companies’ budgets. But the yearly growth in marketing spending slowed down 72% (10.4% to 2.9%), compared with the last survey.

 

A majority of firms indicated inflationary pressures impacted marketing spend. Results showed digital marketing spending also slowed, but its decrease was less dramatic than in overall marketing spending (15.0% increase in digital marketing spending in the past survey vs an 8.2% increase in this survey). On average, companies spent 53.8% of marketing budgets on digital marketing.

 

Among marketing areas predicted to decrease, firms say they will slow investments in customer relationship management systems, brand building, and customer experience, with the largest drop recorded in brand building (5.5% budget increase predicted vs 11.7% the previous year.) 

 

Marketers reported a higher use of tactical, short-term metrics like sales revenues, digital performance, content engagement, and lead generation, rather than strategic metrics such as brand equity value, customer insight usage, and brand differentiation. Compared with two years ago, though, firms are increasing the use of these key metrics, with brand differentiation jumping 111% from 2021.

 

For more on current and past results visit: https://cmosurvey.org/

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: Brand trust is hard-won and easily lost

Based on new research reported in Marketing Charts, "Trust is a key component of brand loyalty, but it’s hard-won and easily lost."

"According to a Razorfish and GWI survey of almost 1,700 consumers ages 16-64, 58% of respondents said it was a “'somewhat slow' or 'very slow' process to gain trust in a brand that they recalled building a relationship with. 

"By contrast, when thinking about a time they lost trust in a company, 70% said they lost that trust quickly.

"When asked which of various factors would cause them to lose trust in a company, a leading 64% of respondents said that the collection of their personal data without their permission would have that impact. By comparison, fewer (49%) said that a company mistreating their employees would cause them to lose trust..."

Read more here: https://www.marketingcharts.com/customer-centric/privacy-and-security-229090?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: How Consumers View Brands that Act Responsibly

According to new research reported in Marketing Charts, almost two-thirds (64%) of global respondents overall agreed that they try to buy products from brands that act responsibly, even if it means spending more, while 29% disagreed. Within the US a slim majority (53%) of respondents agreed that they try to buy products from brands that act responsibly, even if it means spending more, while one-third (33%) disagreed. Research also found that the majority of Americans prefer to buy from sustainable brands.

Read more here: https://www.marketingcharts.com/demographics-and-audiences-228837?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: Is There a Technology Backlash?

Is there finally a backlash coming against technology? That is the intriguing question addressed by the visionary agency/consultancy, Wunderman Thompson in an insightful post, "The New Luddites." The firm says "we’re seeing the emergence of a new movement of people, groups and brands who are questioning technology’s unchecked impact on our lives, with many championing a return to tactile, physical, off-line experiences." Research conducted by Wunderman Thompson on Gen Z indicates the following: "We found that 83% of American Gen Zers have a newfound appreciation for in-person interactions as a result of the pandemic and while 92% love seeing their friends online, they feel that seeing them in person is best. This sentiment is also fueling the revival of analogue practices and simpler technology from the past."

As one example, Wunderman Thompson cites recent data that indicates a renewed interest in physical instead of digital maps. According to the firm, "This is being linked to digital fatigue, with people looking for ways to disengage from their screens. But physical maps also bring with them a sense of adventure and spontaneity, delivering a very different experience to the efficiency and speed prioritized by digital alternatives."

Read more here: https://www.wundermanthompson.com/insight/the-new-luddites 

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: 5 Ways to Improve Your Email Marketing

An article in Marketing Profs offers five tactics to improve your email marketing strategy in 2023. It offers valuable examples as well. Two of the areas are:

1. Double-down on personalization
   "One of the best email marketing tactics for businesses is to get personal with potential leads by sending tailor-made messages. ...Although many brands now understand the value of personalization in email marketing, most still need to use it to its full potential. Email personalization should use data-driven insights to take a strategic approach to creating a personal experience for each subscriber."
2. Conduct A/B testing
   "Using A/B testing, you can find out what works best for your subscribers and, more important, test new ways to grow your email list. You can test content, layout, CTAs, subject lines, and functionality to attract more leads, get more engagement on your emails, and boost sales. It's one of the best ways to make email marketing more effective."

Read more about all five tactics here: (free registration required): https://www.marketingprofs.com/articles/2023/48843/email-marketing-strategy-2023?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: What Smart Content Marketers Know

Recent research reported in Marketing Profs indicates that smart content marketers are those who document their content marketing strategy, invest more of their marketing budget in content creation, employ paid channels for promotion and consistently measure ROI. According to the global report on the state of content marketing that surveyed 1,700 marketers and business owners, 80 percent of respondents who have a documented content marketing strategy say their companies are very successful at content marketing vs. 52 percent who say they are unsuccessful. When spending more than 10 percent of their total marketing budget on content, 79 percent of respondents say their companies are very successful at content marketing vs. 52 percent who say they are unsuccessful. 

See the report on the survey's results here: (free registration required):  https://www.marketingprofs.com/charts/2023/48747/what-the-most-successful-content-marketers-do-differently?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: Marketers are Watching These Consumer Trends

• A recent survey of marketers reveals the consumer trends they are watching, as reported by Marketing Charts. Asked to choose up to three of the most important consumer trends for 2023, 63 percent of brand marketers responding to the survey selected "TikTok/Social Video," 54 percent selected "CTV/Streaming," and 47 percent selected "E-commerce Everywhere." Additional trends mentioned were "Consumer Privacy" (35 percent), "Metaverse" (34 percent) and "Gaming." (30 percent). 

See the report on the survey's results here: https://www.marketingcharts.com/advertising-trends-228502?

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.