Metrics matter now more than ever. As a six-time CMO over a 16-year career, I’ve tracked dozens (actually hundreds) of metrics and found that many measures are ultimately meaningless or only matter to marketers.
Thu, Jun 21, 2018 — This is the third in a series of articles focused on helping executives in small- and mid-sized businesses utilize digital technologies effectively to assist in accelerating revenues and profits. If you missed the first two articles, you can find the first one here and the second one here. The previous articles included an introduction to four major ways digital technologies can help your business, described a spectrum of technologies and a possible implementation roadmap, and associated digital proficiency with enhanced business performance. The second article also took a deep look at how business process needs and priorities should help guide your digital paths. In that article, I also introduced the “USA” model for digital transformation.
Mon, May 14, 2018 — This is the second in a series of articles on helping executives in small- and mid-sized businesses utilize digital technologies effectively to assist in accelerating revenues and profits. The previous article included an introduction to four major ways digital technologies can help your business, described a spectrum of technologies and a possible implementation roadmap, and associated digital proficiency with enhanced business performance. It also included a 10-question survey to help you set an internal benchmark for your digital programs. In this article, I’ll provide practical guidance on where to start a journey for those businesses with a minimal digital growth path today.
Thu, Apr 19, 2018 — There are many ways to think about growth, and many models to help stimulate your thinking. One of the more traditional, best known, and still effective models, is this one:
Sun, Jul 28, 2013 — Maybe it’s happened to you: your board looks at your budget for web marketing and asks about key performance indicators. As the CFO or CEO, you boldly look over the data from your marketing team and condense the complexity to a quick test: How are we doing on these five keywords? One of your board members measures the effectiveness by doing web searches: Are we ranked in the top 3 on Google for this one? And as the wind shifts, Marketing starts to focus on a few keywords, looking at rankings instead of results. Meanwhile, the OTHER 500 search terms that are driving traffic go under the radar, and the bounce rate (one page visits) doesn’t budge. While one search term can look like the prize because it has high volume, it doesn’t necessarily convert into new business. And more traffic doesn’t necessarily mean more sales. Top rankings don’t matter if they’re the wrong search terms.
Wed, Jul 17, 2013 — How much sould a CEO spend on a marketing budget? Whether or not it is the first question asked, it is usually one of the first questions a CEO thinks about when discussing his or her marketing efforts: how much should I spend on a marketing budget? Well, the average company spent 10.4% of its revenue on marketing in 2012. And according to Gartner, that marketing budget is scheduled to go up by 6% in 2013. Now this includes salaries of the marketing people, but it doesn’t include things like software licenses or servers for the data. And this spend widely varies for the types of companies from IT at 3.5% to over 12% for media companies.
Sat, Feb 16, 2013 — For many companies in both the B2C and B2B markets, selling online is a must. Whether selling digital goods like downloadable software, SaaS-model subscription offerings or actual physical goods, in my experience there are a few straight forward and basic economic pillars of selling online that are often overlooked. While your products, pricing and promotions are important, I’ve seen that a renewed focus on the intersection of these four pillars delivers significant increases in sales. These pillars are: • Traffic • Close rate • Average order value (AOV) • Retention
Wed, Nov 28, 2012 — Diana Kyser McNeff is our guest blog author this week 100 Year Old Bakery Uses 21st Century Cloud and Social Technology to Improve its Customer Experience and Expand its Business.
Mon, Jul 16, 2012 — What About Some Lessons? Many CEOs/CMOs have been persuaded (some dragged kicking and screaming) to the value of social media and other inbound marketing techniques. However, being persuaded of the value and knowing what to do are entirely different issues. It's overwhelming. It's a bit like persuading your "unmotivated" teenager of the value of a college education and then getting them to actually study. You have successfully persuaded them of the long term value, but the short term work it is going to take is a different story.
Wed, Jul 11, 2012 — What does it mean to Iterate? Wikipedia defines it as "the act of repeating a process, usually with the aim of approaching a desired goal or target or result. Each repetition of the process is also called an 'iteration,' and the results of one iteration are used as the starting point for the next iteration."