The Great Debate: Digital Vs Traditional Marketing

The Great Debate: Digital Marketing vs The Letter Box DropI attended a Sydney Marketing function in June this year held by the popular Real Estate platform, RateMyAgent, and led by CEO, Mark Armstrong. His presentation was aimed at addressing the evolution of communication with an audience based on how quickly the commercial environment is changing today. This is both a relevant and tough debate, indeed!While this event was Real Estate specific, it is a topical discussion being held across every industry and every market around the world in all boardrooms and strategy meetings: digital vs traditional marketing.Where do we spend our precious budget to get the most cut through to engage our audiences and achieve our organisational goals?So, it’s finally time to analyse both sides and get to the bottom of this debate.Where Are Our Customers?Effective Marketing is all about your audience. This is never up for dispute as we all know it to be true. Knowing that, it may be time to take a step back and consider that age old question: have we thought about our customer?Recent research shows that 87% of consumers now search online for reviews to determine the quality of a local business, and I’m sure that statistic is pretty similar for how people are researching product information too. This is a big shift in behaviour from only a couple of years ago. Organisations didn’t start this- consumers did. We did. We, as people, changed the game, and organisations today are hugely naïve if they don’t think people are already doing most of their research before even contacting your business.As An ExampleMark Armstrong said his son needed an internet router for his house the other day, and at first, he had no clue what a router even was. In about ten minutes online, he become a pro with all of the brands, prices and specifications, then went straight into a local store, went to the shelf and purchased it without speaking to anyone in store.This is very indicative of the modern customer.The Digital InterviewToday, it’s all about ‘the digital interview’- in other words, searching online to find more information about a person or business without actually contacting them. Online dating, LinkedIn, Facebook, websites- it’s all about research before meeting in person. Around 70% of customers make up their mind before that stage, which is something businesses need to accept and adapt to.While statistics are always fickle, all you need to do is think about your own customer’s behaviour, and you instantly know this to be true. Hardly ever does a customer go in unprepared or uninformed.They’re All OnlineHow often do we go to a bar or a restaurant, and find everyone looking at a screen? It’s a sad reality, but a reality none the less. That is where your customer is! On their digital device.People aren’t looking for reviews and information in your physical office or in your marketing collateral – they are looking online. So, being there for your audience is absolutely crucial for your business success.
It’s all about your audience, after all.The Three Arguments: Digital vs Traditional MarketingThere are the three main considerations when deciding the pros and cons of new digital marketing versus more traditional methods, like the letter box drop or print.(1) Cost
(2) Effectiveness
(3) AccountabilityCOSTAs a general rule, more traditional methods tend to be far more costly in so many ways. It’s expensive to design, print and physically deliver materials like these. Now look at digital methods: it’s almost instant, requires little design due to templates, and the reach is not physically limited, meaning you can get ten times the exposure for around one-tenth of the cost.They seem to be light years apart on the cost front.For example, a client came to me recently and told me that the only advertising he was doing was on the back of local shopper dockets, which wasn’t giving him any tangible results, but was still costing him a few hundred dollars a month. For a fraction of this cost, I put his adverts onto Facebook and Google, and he immediately noticed the difference in leads generated!EFFECTIVENESSHow long do letterbox drops, print media and even mainstream advertising last?
Think about a letterbox specifically. The printed material sits in an office, then in a mail box all day. Then, when your audience gets home, are they truly engaged when they check their letterbox, stumbling in from work? They are coming home with the shopping, or wrangling the kids. This material has literally one second to capture them in amongst the rest of the clutter, and is so easy to ignore. That’s not to say it doesn’t occasionally work, but the chance of engagement is very low.Now, consider digital ads. It stays online for a much longer time, and due to the customisable nature of online targeting, it can pop up when the customer is more engaged and in the right headspace. It meets them on their terms, like when they are on their phone killing time, or browsing on a website, and so on. They can also interact with it by clicking on it, watching it, zooming in on it, saving it and much more.In comparison, think about when you hear a radio ad or see a TV ad: you have to remember and recall the advert at a later time for it to have any impact. This means your audience has to spend the effort to remember to act on it at a later time when it’s more relevant, such as when they get out of the car. Making this worse today is that we are constantly bombarded by ads and messages, which means that it’s very hard to keep one specific advert in your mind. You can’t rely on your customer recalling the message – you need to make it easy and at their fingertips.Digitally, your customer can fully interact at the very point they experience the piece of content, meaning engagement is far greater.ACCOUNTABILITYWhich technique truly works? What really has cut through and metrics to measure it? If you ask most organisations who spend budget yearly on letterbox drops, for example, they will say things like “$50,000 a year”, and then if you ask them “does this work?”, all they do is shrug their shoulders.The problem is, some businesses get into a rut of “it’s how we’ve always done it.” This represents a concerning shortfall in our perspective and our priorities. Our industries are too tough and our competitors too smart for us to be thinking this way anymore.On the digital marketing side, with retarget marketing and tracking cookies, online communication and adverts are able to serve up your communication to more defined and far better aligned demographics. Your adverts are more intelligent because they learn about the behaviour of your audience and adapt to how they consume content, then works out where and when to best display your marketing.The Three Battlegrounds of MarketingFrom the 1960ies, there has been an evolution of Marketing and communication battlegrounds based on how we built our customer database.(1) The Physical AddressOrganisations clambered to obtain the physical addresses of customers to communicate with them physically, either with a sales person, door knocking or letter box communications.(2) The Email AddressNext, emails went through an effective stage and businesses rushed to fill their databases with everyone’s @.com address. However today, we have found this to be far less effective do the quantity of spam everyone receives daily.(3) The Computer AddressPeople live on their mobiles and tablets now- this is where they are today. The battlefield has become exposure based on IP address online. Building a database of tracking cookies has become the Marketing battleground of today.While these IP addresses are kept private due to Privacy Laws and you never get the actual details, it doesn’t matter as you can rest assured that this technology is getting your message in front of the right people. Then tracking success comes from the metrics and analytics behind these interactions.
The core essence of Marketing hasn’t changed across any of the above battlegrounds: it’s always been about reaching your audience. The only thing that has changes is how- and this is a direct result from how the marketplace and consumer behaviour is evolving.What is it about Digital Marketing then?Digital Marketing is effective because it is customisable. It can target specific demographics to ensure that the best audience is getting your adverts and content at the right times.The following are three combined ways of how digital marketing finds your audience.(1) LocationGoogle tags computers with a geographical location. While letterbox drops can do the same, location is where the comparison ends. Digital is able to combine location with the following two qualifiers to ensure that your message is tailored, rather than mass distributed to just anyone.For example, in the Real Estate industry, around 70% of residences are investor controlled, which means letterbox drops are ineffective because the people receiving the materials are not the decision makers and therefore not finding themselves in the hands of the right people. Digital equivalents would use location and the following two to ensure it is being fed to the right customers.(2) Browsing HistoryIt is the fact above that allows digital marketing to take it one step further. The history of your browser paints a picture of the type of person your customer is and their interests, which means that adverts can be served up to match this. It’s not a perfectly accurate science, however due to the cost effectiveness of digital marketing, it has a far better cut through and success rate.(3) Remarketing and Tracking CookiesAs you move from website to website, tracking cookies embed themselves into your web browser to allow the content be catered specifically to you, so you are not receiving irrelevant messages. This allows advertising content to be shown to a relevant audience rather than just anyone.Where is Marketing Heading Next?Given that digital marketing is following around your ideal customer and delivering them relevant content, it seems to be working effectively at the moment. However, if I know Marketing the way I think I do, the next stage will be empathetic retarget marketing, which means showing the advert not just anywhere on any website, but when the person is browsing material that is contextually relevant.For example, when your customer, who has already been identified as interested in Real Estate, reaches a Real Estate or property website, the ad will be displayed, as opposed to how it is now, where it comes up on any website they may be looking at.It’s all about being in front of the right customer when they are in the right frame of mind.

It’s Never Too Late to Get Back into Health and Fitness

Hello people,At this time of the year many of you go on holiday, or have the children at home, and adding to this the warm evenings, barbeques, and enticing beer gardens, many people find that they are slipping out of their good habits, and starting to feel sluggish. It is an often repeated scenario that effects many of you, including myself, that just when you seem to be getting somewhere, improving fitness levels, and losing unwanted weight, life takes over, holidays loom, work tires you out, babies are born, and suddenly it seems as if you are back to square one. Many people feel that when they have taken time out from their exercise routine, or when social engagements and holidays have sabotaged their healthy eating habits, that they have to start from scratch again. This can seem daunting and unfair, and often is enough to put you off altogether. We feel that all the hard work is useless if you can loose it all so easily, and that it is easier not to bother, and that we have failed. This may lead us back to bad habits and spiraling low-self esteem, where it becomes harder and harder to get back into fitness and health.It is never too late to get back into health and fitness.I think that we should take a leaf out of the government’s book and replace the word FAILURE with DEFFERRED SUCCESS. Slipping out of your health and fitness routines is merely a normal part of the journey towards changing your lifestyle for the better for ever (no that is not an excuse for deliberately slipping out and buying that chocolate gateau). We should view these little excursions from out healthy routine as minor blips. Do not allow them to continue, don’t think about having to start again, just think about continuing with your good work. Try to see the bad times as an exception to the rule, and the good times as normal life, rather that the other way round.Last week I was talking to my dad and he explained that they have had lots of visitors staying and provided them with lots of lovely (and naughty) food, and that next week they were having a dinner party and so he would be dropping out of his healthy routine yet again. He told me that he would start again after the dinner party, but I reminded him that he could continue to eat well until the dinner party, and then just take a day off. I think that this illustrates the way that many of us think about our healthy lifestyles, often it seems something that we can put off until later, but sometimes later becomes a lot later and sometimes it never happens. I am afraid that we have to be a little strict with ourselves, pick ourselves off the sofa, turn off that TV and get out there, book a badminton court, turn up to a class or go for a walk.Summer is such a great time to take a look at your exercise routine and what you eat and make some more effort. If you go on holiday do not see it as a time to do all of the things you would never dream of doing at home, look at it as an opportunity to try some new pursuits such as fitness walking, sea swimming, pony trekking, skiing etc Take in the scenery whilst being active, visit markets to sample local fruit and vegetables, and if you are close to the sea, go to seafood restaurants and eat loads of fresh fish. If you are at home with kids, try some active pursuits with them, get down the farmers market and get them to choose some interesting seasonal fruits and vegetables. Go out into the garden and do some gardening, use the better weather to stay active, and then when the Autumn comes and most people are feeling remorse for the damage that they have done to themselves over the Summer, you will know that you calmly carried on living well and healthily.If you find that you are struggling to fit everything in, then write down the way you feel when you are eating well and exercising regularly; more energy, sleeping better, feeling confident, feeling less stressed, having a more positive body image, feeling physically strong, feeling proud of yourself. Remind yourself of these things, and then continue with this healthy happy path. Forget the period of relapse, don’t feel bad about it, don’t let it put you off making the effort to get back into health, just calmly take the steps needed to get you back on track. Clear the rubbish out the fridge, telephone a squash partner, pick up a timetable from the gym, put a note in your diary and make an appointment with yourself to get fitter and feel better.Health and fitness is about progression not perfection, don’t look back at where you went wrong, look forward and think about the things that you can do today to progress.Nag over, cheerio until next time, and have a healthy happy week.
Vikki.Do you have any friends and family who could benefit from getting fitter and feeling better? If you do, then treat them to free copy of this newsletter, forward it to them, and get them to e-mail me with a request. E-mail [email protected] subject: newsletter request. Would you like to bring health into the workplace? Getfitter now offers a corporate package, including yoga classes/courses, Massage, Nutrition and Stress Management seminars, team-building events, conference breaks, Company Wellness days and Healthy Friday a monthly wellness event. Please visit www.corporatechill.com or ring Vikki on 0117 3300655.

Statistics Programming – Easing the Pain

Different sets of software are being developed everyday just to ease man with some of his technical works such as in the field of business. These programs are specially designed to make high speed calculations and analysis of the data and come up with a soft copy of information output that can be used instantaneously after the software processes it. Statistics is one of the most complicated clerical works of anyone who is studying or working in the field of economics, politics and even social matters. Statistics is deemed to be of importance because it gives a type of descriptive conclusion or interpretation that can be very precise depending upon the quality of data that has been gathered and the competence that is given to organize, interpret and represent that data. But even with the level of competence that a person has with regards to his statistical skills, there is still a probability that a miscalculation might be made and alter the holistic outcome of the statistics.

However, because of the rapid advancements of technology and the evolution of the functions that can be performed by the humble computer software developers has come up with a certain software program that can make ease any statistician of all their statistical tasks. The development of a program that is able to perform the task of organizing and interpreting statistical data was q revolutionary breakthrough when it comes to statistical analysis help. Statistics programming is defined as the systematic calculation of all the numerical data that has been downloaded into the system wherein it is organized basing upon the categories. These categories are classified upon the nature of the data that has been downloaded. After the process of organizing the data, it will be then interpreted numerically. This function of statistical programming helps to lessen the burden of work and also to maximize the output of a statistician.

Statistical program is composed of sets of languages. There are a total of 17 categories in a statistical program and these are the following;
• Analytica, ADMB
• Gretl, GAUSS
• Mathematica
• OxMetrics
• Quantum (Programming Language)
• Programming Language, SPSS, Symbolic Data Analysis, Sysquake, SAS (software and language), Speakeasy(Computation), SHAZAM (Software)
• World Programming System
• XLispStat

Each of these categories of Statistics Programs has their own unique sets of functions. Each one of it is capable of performing specific functions about statistics. The MATRIX LAB is one of the statistics programs that are widely used today. It is a program that is provided by a certain company that is said to be fully capable of solving ad coming up with solutions with regards to any mathematical or numerical problems that are fed into it. The MATLAB assignment helps not only statistics but also other aspects that majorly require the use of mathematical equations and solving. Because of these software programs, statisticians are given more time to pay attention to other details of the data and leave the organization and the interpretation of it to the statistics software.