At Google’s ThinkFinance conference in Mountain View, CA the title of the keynote presentation was Digital Measurement is Broken, Let’s Fix It.
During the hour, I shared the concepts and case studies that have helped companies form a different framework for media planning and measurement – one that I hope will correct many of the limitations of current methods, to become the new standard. This goal of this new framework is to help business seek out maximum profit volume, on a market-by market basis. Profit by volume, as MakeBuzz describes it, is the ultimate measure of efficiency – and the ultimate measure of growth. I suggest that our marketing objectives have been disconnected from this fundamental business goal for too long.
An update: Since our time with Google, we have moved on to 1 to 1 marketing, via named addressable marketing. This removes 90%+ of the post cookie audience and over 50% of the non-human media. Thus, performance is truly impacted.
Think of Your Business Like a Lawn. And the blades of grass are your profits. When you’re watering and fertilizing, you’re making the grass grow- that’s your branding. When you’re mowing- that’s your Direct Response.
Your lawn needs both these efforts to grow it’s greenest and it’s best. By the same token, a healthy marketing strategy is made up of Branding and Direct Response efforts in perfect balance.