ü Oughta Know is a combination of digital crib notes and marketers’ cheat sheet, bringing you important – and occasionally weird — stories and trends from digital marketing news.
Each week our hope is to help keep your knowledge sharp while providing a delightful craving of classic Alanis Morissette. Here’s what you oughta know:
Google Launches ‘Call Only” Ad:
Google has recently launched a new mobile search ad allowing only for click-to-call. For B2C brands still working on getting mobile-compatible sites, these ads may be worth experimenting with provided your sales cycle is very short or your offering is highly commoditized.
I’ve personally always hoped for another 1-800-I-Feel-OK, the dial-up entertainment marketing promo from Coca Cola’s pre-internet 1990’s that offered fortunes, trivia and other nonsense. I can’t believe there was a time I considered a phone tree ‘entertainment’.
Likely, this will be the domain of local businesses. Just be sure to use ad scheduling to show your ad only when your phone lines are manned.
Value to your business: Worth experimentation for local companies.
Facebook Introduces Product Ads:
If you’re an online retailer, Facebook’s new Product Ads will be of particular interest.
The refresh of their in-stream ad unit combines promoted posts with dynamic targeting and remarketing previously only available through select (and often costly) third-party platforms. The ad creative is made en masse from an entire product catalog.
Facebook highlights the case study of e-tailer NoMoreRack, which used the new platform to improve CTR by 42% while decreasing cost per acquisition by 45%.
Given the interaction these new ad units offers, and their simplicity in mobile, that’s not an unreasonable expectation for a well-targeted campaign.
The dynamic remarketing capabilities will feel right at home to those familiar with Google AdWord’s rule-based remarketing, but it does require some new code added to your website, the ‘Facebook Pixel.’
Value to your business: Highlight your products using Facebook’s incredible targeting AND remarket from the same platform? This is a must-include for ecommerce B2C.
The Future of Marketing: Research from Duke:
Duke University published the latest edition of their CMO survey last week and the findings indicate that digital marketing will continue to grow and may surpass traditional advertising spend in the coming years and for the first time since the recession marketing budgets are seeing huge increases.
Some of the more compelling data from the study:
- Brands will allot 11.7 percent of their marketing budgets for analytics by 2018, up from 6.4 percent currently.
- Mobile Advertising spend will rise from 3.2% of your marketing budget to 9%.
- Digital marketing spend should increase by 14.7 percent in the next year.
- Traditional advertising budgets to fall by 1.1 percent in the next 12 months.
- Social media will account for 22.4% of marketing budgets within the next 5 years.
- Marketing budgets overall will increase by 8.7%, the largest increase year-over-year since the recession.
The Duke University CMO survey is conducted yearly and CMOs from large corporations such as GE and Walgreens are interviewed. Do these facts sound like the plans you have for the future of your marketing strategy?