Archive for January, 2009

The Truth About Display Advertising

January 16th, 2009

If you are reading this, you’re probably expecting to another pundit to start bashing display ads.  Sorry to disappoint you but I’m actually going to defend the proverbial step-child of online media (while 3rd party email as the proverbial adopted child).  If you are a step (as I am) or adopted (as my sister is) don’t take it personally.  This is just a metaphor…

Now back to my rant… with the meltdown in the economy and paralysis that has gripped consumers, display ads are taking a beating due to their perceived lack of effectiveness. According to AdWeek, “Forrester Research expects display ads to come under the scrutiny of tight-fisted marketers uncertain of their effectiveness.”  IMHO, the experts are taking a myopic view of the value of display.

I am not proposing that you invest heavily in display as your first buy.  Your first online ad dollars should go to paid search; that’s where you’ll get the biggest bang for you buck.  But if you are in a limited category or geographic area, Search alone may not help you make your revenue goals.  There are only so many searches every day.  And these days there are fewer than there used to be.

This is where Display ads can work very well.  As we’ve seen firsthand, adding display to your mix, after optimizing paid search, is an effective way to increase awareness and create demand that eventually results in more site traffic, leads and sales.  But unlike Search, you probably won’t see the direct link via click-thrus and conversions.  Just as billboards (though we may hate them) create awareness, so do banner ads (when properly targeted.  While Display ads may create awareness, they usually produce poor click-thru rates and even lousier conversion rates.  Most often, the impact of a good display campaign will show up in the form of a lift in branded searches, SEM click-thru rates and direct visits.  So you have to take a holistic view. Here is a chart (from a 1/09 client report) that demonstrates this concept:

For this campaign we quickly learned that search impressions were very limited. So to supplement search we started running display ads (4 weeks ago).  While some ads had decent CTRs, most of the increase in traffic came from Direct navigation, branded search and paid search.  As shown, the increase in impressions had a direct impact on site traffic. As long as conversion rates hold up, we’ll continue to invest in display. And given that Display Ad prices are falling faster than Wal-Mart closeout prices, this should become an even more attractive opportunity over time.

Caveat Emptor!  While Display does have a place in the mix, you have to make smart buys.  You need to target (demo, geo, behavioral, contextual, etc.), cap frequency and daily impressions, specify where they will (and will NOT) be served and have a good ad serving / web analytics system for reporting.  If not planned and executed well, it can be a waste of time and money.  But if done correctly, you can expand your category, increase awareness and preference, and extend ROI from your scarce marketing budget.

If you’d like to discuss or debate, comment below, contact me or look me up on Facebook or Twitter.

Peace!

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Posted in Advertising, Measurement, Our Favorites!

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Goal Setting for 2009

January 4th, 2009

Since it’s a new year, it’s a great time to think about our goals, both business and personal.  Our professional success is impacted not only by what happens at work, but how we manage our personal lives are well.  The more organized and on track we are in our personal lives, the more effective we can be at work.

Most are aware that people who write down and review their goals are much more likely to be successful than those who do not. But if you’re like me, it’s probably been a while since you did it.

Last year I decided to write down my goals, review them regularly, and track my accomplishments.  While 2008 was a pretty tough year (thanks recession!), I feel it was one of my most productive and fulfilling years to date.  I achieved most of my goals for 2008, and the gratification that came from it helped me deal with many unexpected challenges.  I believe my focus on goals, combined with frequent review and assessment, made a big difference for me in 2008.

If you’d like to do the same, feel free to use my Goal Setting Template (click to download via google docs – select “choose other application” for .doc version).  The categories are organized based on what made sense to me.  But everyone is different so feel free to edit as you see fit.

In addition to defining your goals, you should also define the steps required to achieve each goal.  Goals are great but you need an action plan.  For each goal you can add the steps for achieving it.

Next, you’ll also see some activity logs you can use to track how often you review your goals as well as your progress in achieving them. Each time you review your goals record the date.  Each time you achieve a goal mark it down.  Track your progress against each goal throughout the year.

Print and keep your goals and activity logs and keep them handy. I keep mine by my bed so I can review them each morning.

Writing down your goals is an important first step.  Of equal importance is that you review them frequently. It’s easy to get caught up in the day-to-day; if you review your goals at least once a week, you can rise above the daily hassles and keep your eye on the prize.

I hope this is helpful and that you see great results in 2009.  Feel free to share with others and let me know what you think!

Best wishes for 2009!

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Posted in Marketing

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