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Outsider Insights | You Can't Measure AI ROI If You Can't Measure Marketing ROI
Outsider Insights
Across Chief Outsiders, we talk to hundreds of CEOs every month. In this series, we explore the trends and challenges we’re hearing from these discussions – and what you can do if you’re facing the same issues in your business.
4 Tips to Achieve Quantum Growth with Expansion into Retail
Wed, May 29, 2019 — Whether your brand/product is sold purely on-line, through healthcare professionals or other professional channels, retail offers an opportunity to achieve quantum growth. Indeed, the rewards of selling through retailers can be enormous. Depending on the outlets you pursue, a successful retail launch can generate opening orders of 200,000 units or more. I recently launched a medical product primarily into the big three drug chains and Walmart that achieved that delightful opening order size. And, appearing in front of millions of consumers on retail shelves couldn’t hurt brand awareness. Some experts estimate that retail shelf presence alone can increase brand awareness by 20% or more.
Maximizing your Digital Marketing Channel Mix
Wed, Apr 17, 2019 — “Going digital” with your marketing mix has never been more essential. Most advertisers continue to increase their digital marketing spend in 2019 as billions of consumers are using online social media as a jumping off point into purchase decisions. With more money flowing into digital marketing, the digital channel mix continues to grow in complexity. Though search marketing, display advertising, social media, and mobile remain the mainstays of a digital advertising footprint, each has its role in supporting a particular business objective. When integrated properly, they maximize how we attract consumers, and turn visits into revenue. But before you leap into the digital marketing fray, it’s critical to understand your enterprise’s goals and objectives: Are you seeking to simply educate the public about an innovative offer (market education)? Do you want a target audience to gain greater awareness of your offering as a viable alternative (Brand Awareness)? Are you simply looking for more people to buy your product (raw traffic)? Or, do you want to motivate your current consumers to buy more of your product (higher net per sales)?