Thursday 17 January 2013

Facts not Fame should be the measure of Marketing ROI

It has become a major trend in Marketing and business in general that what is well known, pervasive and accepted by these very criteria must be inherently better, more effective than a less known, cheaper and possible unheard of tool, strategy or product.  The reality is Marketers like the proverbial man with a hammer tend to see all problems as nails.  Marketers have to be careful when evaluating new services, strategies and techniques to minimize the affect of  branding, product placement and industry acceptance from coloring their judgement of the effectiveness of  new offering.
Case in point several new methods of radically improving app adoption have sprung up lately, but my informal survey of my extended marketing circles find very few other martketers in the B2B arena from adopting these tools.  Having recently read Professor Dan Areily's book on Behavioural psychology, called the Upside of Irrationality,  inwhich he explains the all too common problem of countries/groups/companies/indivduals reluctance to adopt ideas that where developed by others which he refers to as the 'Not Invented here' affect.  Or more humorously as the 'tooth brush' affect in that everyone needs one, everyone has one but no one wants to use anyone else's.
What I would add to this excellent theory is the idea in industry and marketing the affect is also more pronounced to the risk adversion associated with being the 'Guinea pig' for novel tools, techniqies or campaigns.  So many great ideas and campaigns are stifled due to the hunt for ROI measures to justify the expenditure.  Given the difficulty in many B2B marketing efforts from print ads, tradeshows and direct mailers its extremely difficult to gain support and finances to try things outside the box.  Saddly, Marketing priniciples almost scream that differientation and authenticity are the keys to building Brand recognition in the first place.  So paradoxically, playing it safe is a form of industry herding (again paraphrasing Dr. Ariely's limiting concept of self -herding), inwhich differientation is attempted within a incremental range and no further.  Truly, if we are to generate real ROI we need to attempt to implement new ideas from wherever they arise and to measure them solely on whether they work or not.

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