The four habits of highly ineffective marketers

Splitting the buy: In the broadcast world, marketers often allocate media dollars across several TV networks, hoping that vast reach will capture the audience they are after. But for digital campaigns, it’s often better to consolidate campaign spend. Why? Data. The more data that’s put through a single buying platform, the smarter marketing becomes. The bottom line: data + technology are driving big shifts in how marketers need to approach their media buying strategies.

Compartmentalizing data: Too many marketers separate mobile, social and desktop strategies just like they do with TV, outdoor and print. People engage with multiple channels (sometimes even simultaneously) throughout the day, so why are marketers isolating data in siloed buckets?

When digital data is integrated and used to inform big picture, multi-channel decisions around reach, frequency and even creative strategy, its value increases exponentially.

Static media planning: The days of creating a stagnant media plan at the beginning of the month will soon be over. With access to dynamic, cross-channel insight, creative and media strategies can and should be optimized in real-time, allowing brands to take full advantage of “right time, right place, right message.”

Manual processes: We conduct online stock trades and make dinner reservations online. Yet, it takes dozens of faxes and multiple phone calls and meetings just to make a single ad buy. Astonishing.

It’s far time for marketers to embrace “mechanization.” Mechanization means that machines replace manual planning and buying processes (including multi-page RFPs and insertion orders) that waste time and money. Big efficiencies will be realized as more marketers embrace programmatic ad buying technologies to execute campaigns.

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Bob Lord

Excerpted from Stop Old School Digital Media Buys on Economistgroup.com by Bob Lord Global, CEO, AOL Networks on http://www.economistgroup.com/leanback/collaborators/stop-old-school-digital-media-buys/

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