Is Marketing Really Worth It?
Is Marketing Really Worth It?
Whether you’re a college student or someone who wants to transition into a marketing career, there are a few key questions you should consider before making your decision.
First, consider whether or not you’re truly passionate about the field. If you’re not, then you may want to take a look at other options.
Cost-Effective Acquisition Marketing
As a business owner, you need to know how much it costs to acquire a customer. This metric, called customer acquisition cost (CAC), can be calculated by dividing all of your marketing expenses by the number of new customers you bring in.
Using this calculation, you can find out which marketing channels are most effective at bringing in paying customers and optimize your budget accordingly. This can be especially helpful if you want to improve your customer lifetime value (LTV), which measures the monetary value of a customer over time.
In addition to this, CAC can also help you understand which channels are costing you more than others. This can allow you to cut back or eliminate investments that aren’t bringing in a high return on investment.
Advertising Blindness
While there may be a few lingering myths about the effectiveness of online advertising, the truth is that it’s still an important part of driving traffic to a website. However, the problem with this type of marketing is that it’s not always effective.
One of the biggest problems is advertising blindness, which is a habit of web users that causes them to consciously or subconsciously ignore information presented to them in online advertisements. Banner blindness, which was coined in 1998 by psychologist Jan Panero Benway as a result of website usability tests, can lead to a decrease in ad clicks and revenue for both advertisers and publishers.
The main reason why this happens is because of human cognitive schemas, which essentially guide our minds to areas that we expect to find certain kinds of information. This is especially true when we’re on a new website, which is why many people skip over traditional ad locations like the top-right corner of a page or the right sidebar.
Email Marketing Isn’t Dead
Email marketing is one of the most effective, inexpensive and efficient ways to reach customers. It’s also a great way to establish yourself as an industry authority and build a strong following of loyal fans.
As long as you follow good email marketing practices – design, lists, send, testing, integration and analysis – email remains a powerful digital marketing tool for small businesses.
Moreover, it’s also very affordable and easy to scale up as your business grows. Plus, you can automate your campaigns to save time and money.
However, to keep your email list engaged, you need to make sure that the content you’re sending is high quality. That means sending out regularly updated newsletters that include industry news, tips and tricks, new products, blog roundups and more.
Live Television Isn’t Dead
There’s a lot of talk in the industry about the death of live television, but it’s not happening quite yet. After all, people still watch live TV, especially for news and sports.
Moreover, even streaming services have been testing their own live television offerings, like Netflix and Hulu.
For example, Hulu recently launched its own live-streaming feature, and it’s working to make it easier for viewers to navigate the interface and find their favorite shows.
However, there’s a key difference between live TV and streaming. In addition to its cost and convenience, live television has a certain level of quality that streaming doesn’t have.
For example, NBC aired two live broadcasts of an episode of ER in 1997. The program became one of the most watched episodes of a medical drama ever. Similarly, live television is a great way for advertisers to get in front of their target audiences by allowing them to interact with the show’s cast and producers during production.
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Is Marketing Really Worth It? Whether you’re a college student or someone who wants to transition into a marketing career, there are a few key questions you should consider before making your decision. First, consider whether or not you’re truly passionate about the field. If you’re not, then you may want to take a look…