Traditionally, digital marketing teams have measured themselves against social media linked KPIs. Earlier this year, Bango conducted research that showed the board room is becoming disillusioned with these “performance metrics” and is keen to see results beyond ‘clicks’, ‘likes’ and ‘retweets’. They want evidence their marketing budgets are having an impact on the bottom line – and who can blame them?
The report was titled ‘Board to Death’ and has been widely covered by Forbes, Marketing Week, VentureBeat and New Media Age among others.
What’s more, in the past month we have seen our research backed up by two industry heavyweights. First, Forrester Research reported their own research that confirms Bango’s findings. CMOs must connect their investments with direct business benefits, the report argued, following in the footsteps of Bango’s research.
Now, LinkedIn has decided that focusing advertising on buyer intent is vital, because most online advertising is seen by browsers that are not in buying mode, and many never will be.
However, if a correlation between marketing spend and acquiring payers could be established, 77% of the CEOs we surveyed said they would be happy to allocate more budget to online marketing activities.
At Bango, we are pioneering purchase behavior targeting as the correct method of driving revenue outcomes from digital marketing campaigns. When there is a way of directly accessing known payers, it becomes difficult to justify why marketing spend should be allocated elsewhere. It seems the voice of the board room is getting louder, and the rest of the world is starting to join the purchase behavior targeting parade.
