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How to Create Content Unicorns and Ignore the Donkeys

How to Create Content Unicorns and Ignore the Donkeys 351x200 How to Create Content Unicorns and Ignore the Donkeys

What Metric Can Tell Us Our Content is a Unicorn?

NATHAN: What are the metrics you’re going to use for the content to know whether it’s quality?

LARRY: Great question. In baseball, you’ve got hundreds of different metrics. Same thing in marketing. There are hundreds of different possible metrics for your content. However, when I think about the objectives of marketers and why they’re producing all this content in the first place, they typically fall into one of four categories.

Category one would be they’re trying to drive awareness. So, this is your typical blog content. You’re just trying to get a lot of people to be familiar with your brand. Another one could be they’re trying to drive conversions. It could be like a special offer or something like this, so that it’s very compelling and turns leads into actual sales and customers. Another one is advertising. So, content could be like a really great ad. And another one could just be SEO and social, like just trying to rank really great in either Google search or to generate a lot of engagement in Facebook.

There might be more, but those are the big four I typically see. Now, what I’ve noticed is that when you look at the really, really high-performing content ― I’m not talking about just the stuff that you think is so great, I’m talking about every company ― if they’ve got 1,000 blog posts, there’s going to be like one or two that really stand head and shoulders beyond the other 999.

When you isolate those real outliers, they’re not just 5 percent better, 10 percent better; I’m talking about 10 times better kind of campaigns. They do have one thing in common, and that is they have high user engagement rates. So, user engagement rates … that could be things like in Facebook they’ll have a high engagement rate in terms of people clicking on the post, or liking, or commenting, or sharing it. In SEO, that could be a high ranking. And, by the way, Google SEO rankings take into consideration things like click-through rates. So, if you have an unusually high click-through rate for a given spot, Google will reward you with even better positioning.

We’ve also found that the content that converts best in terms of ads and offers tend to also have high click-through rates and low bounce rates. Because, quite frankly, if you can get people excited enough to click on something, that excitement tends to carry through to a purchase or a sale. My point here is, the metric, the one key metric that we should be focusing on more and more these days is engagement rates.

So basically click-through rates and engagement rates seem to be the key to unlocking all of those objectives, whatever your objective is. Why? It’s because all of these systems ― like the Facebook news feed algorithm, or the organic search algorithm, or Google AdWords quality score, or Facebook ads ― they all employ machine-learning algorithms that greatly reward content that has unusually high engagement rates with tremendous visibility within those platforms.

My point is, continuing the analogy, that engagement rate in content marketing is essentially the on-base percentage of baseball, which was the one key metric Billy Beane wanted to focus on. Because he believed that in order to win games, we need to get on base. Same idea here. In order for us to make our objectives, our content has to be consumed.

It seems simple, yet we still have 99 percent of these content marketers talking about checklists of what makes for great content and 10x content. It’s all attribute-based quality definitions, as opposed to outcomes.

What Do You Do Once You Recognize You Have a Unicorn?

NATHAN: Once you identify that outlier and you see the kind of content that the audience is engaging with, do you then just keep on doing that type of content and just make that sort of your standard at that point in time?

LARRY: We’re talking about strategy here. We’ve got this metric, what do we do with it? Well, you’ve got to optimize for it. There are two things you need to do in your strategy. The first thing is you need to spend less time with the donkeys. Because your time is finite. You only have certain amount of hours in the day and certain amount of resources to allocate towards content creation. And the big mistake that people are making is that in the past content marketers would get a lot of value just for showing up. Meaning, if you could just blog three times a week, or run Google AdWords, or Facebook five posts a day, or something like this, there was a certain value in just being present.

Now, what I’m saying is these new algorithms are kicking in, and you no longer get points for showing up. These posts get no shares, no links, no reads. It’s only the outliers that do. It’s basically you’re getting bigger winners and fewer of them. It’s like the difference between playing scratch tickets and Powerball. Fewer winners, but bigger jackpots.

What I’m saying is, you really need to stop wasting your time pushing donkeys. Donkeys are the opposite of unicorns. Unicorns are these great mythical things – your top 1 percent, your outliers. And the donkeys are basically everything else.

The mistake people make is they’ll keep pushing on the donkeys because they can’t overcome their own biases. They think that, ‘Oh well, this campaign didn’t do well on an email blast, but let’s do another email blast.’ Well, my point is just to say that if it didn’t do well in the first 5,000 emails, it’s not going to do any better in the next 10,000 emails.

What you really should do is just drop it and stop wasting time and energy on these things that are going nowhere, because it’s not going to change. The organic rankings aren’t going to improve. It’s not going to do any better if you share it again on Facebook, if it’s still a donkey. So just take a different shot.

The other mistake people make in terms of strategy when it comes to Moneyball is that when they do have a winner, they don’t milk it for all it’s worth. It would be like if we’re playing poker, and if I dealt you a very unusually strong hand ― like a full house or four aces ― are you going to play that hand in such a way just to grab the blinds and go to the next hand? That’s what a content calendar does. A content calendar says: We’ve got to just blog post every day, and there’s no flexibility because we scheduled the next month. But what I’m saying is, this one unicorn post, the one outlier, will generate 50 times, 100 times more value than all the other posts combined.

Content marketers are just too eager to jump back on the content marketing treadmill to produce the next thing on the calendar rather than milking the hand that they should play for all it’s worth when it’s valuable. I call this ‘making unicorn babies.’ So, if you have a unicorn, what are you going to do with it? Are you just going to play it once and then move on to the next donkey? No. What you need to do is go all in on it and make unicorn babies. You’ve got this one outlier piece of content. You should spend all of your quarter’s budget on promoting that one piece in paid social. You should cancel all the webinars that you have planned for the month and just do this one topic.

It’s a little bit like how CNN goes all in whenever there’s like a plane crash that’s a mystery. They clear the decks. They don’t care what else was on the calendar. And they just go all in on that one really engaging topic. And you might think that this is like, ‘Well, duh, that makes sense.’ But that’s not how people actually do things. I’ll give you an example with paid social, Facebook advertising. A company will say, ‘Oh, I’ve got 10 posts a month, and I’ve got $ 1,000 to spend on social advertising. Let’s equally divide the budget $ 100 per post.’ That’s what 99 percent of these companies are doing.

What you really should be doing is just spend nothing. I guess this is kind of like having the budget stay on rollover, if you will, and spending nothing on any post. And when you finally find that post that’s like, you know, the outlier, you should then go all in. You should spend the entire year’s budget on that one post. That’s what you should be doing, but that’s not what content marketers are doing today.

Two Types of Unicorn Content

NATHAN: When you wring everything out that you can from that piece of content, what happens next? Do you then go back to the grind of creating 10 more pieces of content, or 100, or 1,000, to see what is the next unicorn? How do you get your next unicorn?

LARRY: There are two ideas here. One, there are two types of unicorns I’ve noticed. One is an evergreen unicorn and the other one is a temporal unicorn. A temporal unicorn could be like the time I did a story about the Facebook IPO that generated 10,000 pickups in, like, every newspaper. I created a news cycle, basically. I was interviewed by dozens of radio stations and television stations, and generated over 10,000 pickups. But I can’t talk about that story anymore, because it’s not news anymore. The reason why it did well was because it was new and novel. And the reason why it stopped doing well is because the news cycle moved on.

You can make unicorn babies like that by transposing the same idea to the next item. So, the Twitter IPO, or the Snapchat IPO. We basically took the same play, but generated content for every … insert big brand IPO. And we just recreated the story.

The other idea is, with these evergreen stories, there are certain types of content that just never die. They’re like zombies. They just keep on living forever. I’ll give you an example. I once created a piece called the most expensive keywords in Google AdWords. It’s a great topic for me because I sell AdWords and pay-per-click advertising. This thing just generates, like, a million clicks every year. And it’s a gift that keeps on giving. And so, what do you do with this? You just keep sharing it. You instruct your social media manager: Once a week I want you to share this thing. And it’s like, ‘Really? It’s like five years old.’ And I’m like, ‘Yep.’ Because this five-year-old unicorn does substantially better, and, even today at five years old, will do better than the average new piece of content.

So we’re talking about not only maximizing the output, but also minimizing the effort. Because a known unicorn that’s evergreen will outperform an unproven new piece of content. So you just keep promoting it. You have an auto responder to all your new emails that come into the system. Send that evergreen unicorn to them forever. And send it to them twice ― once when they come in, and once at the six-month mark. For ad campaigns, just set a budget for $ 100 a day and just keep promoting it to that audience forever. These things are just so rare and so valuable that you really need to maximize the winnings when you have a winner.

NATHAN: Absolutely. If anybody wants to learn more about you or Mobile Monkey, what should they do?

LARRY: The easiest way to do this is to follow me on Twitter. Or go to my website, mobilemonkey.com. There isn’t a ton of information up there right now, but hopefully, God willing, we’ll close a round of venture financing sometime this summer and have more to share about that.

NATHAN: Well, we’re looking forward to it.

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7 SEO Tactics Most Marketers Ignore

Search engine optimization has a reputation for being hard and brutally competitive. But is that really true?

Sure, there are millions of web pages competing for any given keyword, but how many companies have made a sustained, strategic effort to rank? How many companies have even done the basics of SEO?

Ends up, not so many. SEO is in some ways one of the most neglected parts of a content marketing program, or any online marketing program.

Don’t believe me? You only have to look at how much budget SEO gets. There are three different studies that support this:

So not only are there a lot of SEO tactics that most marketers ignore – most marketers are ignoring SEO entirely.

Given what good search engine optimization can do, this is downright depressing. Search engine traffic matters – it makes up 51% of visits to most sites, according to BrightEdge. And search engine traffic converts: “SEO leads have a 14.6% close rate, while outbound leads (such as direct mail or print advertising) have a 1.7% close rate,” according to Search Engine Journal.

We want to get you some of those goodies. So if you’ve been putting off your SEO work, or you’ve only done a little here and there, any one of these tactics can help. They’ll get you far more traffic to your site and give you a nice edge on your competition, too.

1. Write your title tags and meta descriptions as if they were ad copy.

You know what click-through rate is, right? And you know how important it is. That’s why we all obsess over the click-through rates of our emails, our pay per click ads, and our social media updates.

But what about the click-through rates of your pages in the search results? Are you doing anything to improve them? Because that’s the single easiest way to drastically improve your search engine traffic – without doing one smidge of other SEO work.

To find out what the click-through rates for your pages are, log into your Google Search Console account. Go to the “Search Traffic” > “Search Analytics” report. Select to view “Impressions”, “CTR” and “Pages”, as shown below:

That will show you the click-through rate for your pages. The next step is to click on the double arrow in the far right of each page’s row. This will bring you to a sub-report where you can analyze each page individually. You’ll be able to see which keywords the page is showing for and what the click-through rate of your page is for each of those keywords.

It’ll look a bit like this:

To see what your competition for these keyword terms is, just click the little gray square right after the keyword. It’ll show you the search results for that term.

Compare what you see in the top search results to what’s in the title and meta description tag for your page. Pay particular attention to any paid ads. These are often split-tested relentlessly to get higher click-through rates, so you might want to borrow some words and phrases from those ads to use in your title and meta description tag.

One caveat for this technique: Don’t write title and description tags for your pages that don’t accurately reflect what’s on the page. And you may want to circle back to the content of your page and rewrite/update it so it better matches searchers’ intent.

Once you’ve rewritten the title tag and meta tag description,

  • Take screen shots of the Google Search Console reports and search results you used to make the changes.
  • Let the page accrue impressions and clicks for at least two weeks.
  • Go back and see how it’s performing.
  • Rinse and repeat for as long as you have patience for, to see how the page performs over time.

You can probably double or even triple your click-through rates over time with this technique, but it will take a couple of months to get results.

2. Use keywords and dashes in the file names of your images.

You have to use something for a file name for your images – so why not use a few keywords? Some sources say you’ll get even more results if you use dashes between the words in the file names, like this:

Keyword-Rich-Image-File-Name.jpg

This one tactic isn’t going to catapult your page to the top of the SERPS (search engine results pages), but it gives a little lift. And if probably won’t take you more than two minutes per page to implement.

Bonus: Take the time to write out keyword-rich descriptions for the Alt tags of your images, too. This is easy to do in WordPress or most other content management systems.

3. Beef up your pages that show up on pages 2-3 of the search results.

The Google Search Console also lets you see where pages tend to rank in the search results. Go to the Search Analytics report again and choose this setting to see that information.

Any pages with an average position of 9.5 to about 13 have been lingering near the top of page two in the search results. Very few people will see your pages there, as the vast majority of searchers don’t bother with results beyond page one.

But with just a little bit of SEO, you can nudge those page-two listings on to page one, and thus get far more traffic to them. Here are a few techniques for doing that:

  • Add links to these pages from some of the high-authority pages on your site
  • Update these pages – make them more valuable to your visitors
  • Apply the title tag and meta description tag trick mentioned in item #1 above

4. Write long form content.

Several studies have shown that “long form” content (more than 1,000 words) does better in the search results. In fact, pages with 2,000 words or more tend to dominate the top 10 search listings for any given keyword.

Last year Moz and BuzzSumo discovered that

85% of content published (excluding videos and quizzes) is less than 1,000 words long. However, long form content of over 1,000 words consistently receives more shares and links than shorter form content. Either people ignore the data or it is simply too hard for them to write quality long form content.” 

While 85% of marketers are missing out, this can be an opportunity for you: Write more long form content. And, as corollary to this: spend more time creating it. According to a 2016 survey of bloggers from CoSchedule, only one in ten bloggers is spending more than five hours on each post.

Does spending that much time on a blog post seem out of reach? Consider publishing less often, but with higher quality content. You may get better results.

5. Go beyond the Google Keyword Planner for keyword ideas.

While keywords work a little differently in SEO than they used to, they’re definitely not obsolete. And choosing the right ones can make all the difference in your SEO work.

We’ve recommended using “long tail” keywords in the past (they’re search terms made up of three or more words). But often, the trick is how to find them.

Google’s Keyword Planner is notorious for giving inaccurate search counts, especially for keywords with lower search volumes. It’s even worse at surfacing long tail keywords and related terms.

So what to do? Well, consider thinking outside the box, or in this context, outside the Keyword Planner. Here are several ways to find long tail keywords to optimize your content for:

  • Product reviews (including Amazon book reviews)
  • Forums and LinkedIn groups
  • Blog post comments
  • Reddit
  • Paid search tools like SEMRush, RavenTools, Moz and SpyFu
  • WordStream’s free keyword tool
  • WordTracker’s free keyword tool
  • UberSuggest (a free keyword tool)
  • Google Search Console’s list of keywords that your pages are appearing for
  • The “related terms” search at the bottom of each page of Google search results
  • Your site’s internal search records
  • Your competitors’ sites
  • Google Trends’ related searches
google trends 7 SEO Tactics Most Marketers Ignore

Google Trends’ related searches section will show you the top related searches for a term. It’ll also show you which keywords are seeing a spike in searches.

Google’s also added some tools to help with rich answers and schema markup in Search Console. They appear to be serious about making schema setup easier for everyone.

7. Update old pages.

This is a major opportunity, and almost no one’s using it. Updating old pages – particularly old blog posts – can almost double the traffic those pages are generating now.

Several sites have published case studies on how they got this to work.

The results from those case studies are so good, you might want to take a break from publishing new content – just so you can go back and optimize a few choice pages.

Conclusion

It’s too bad so few marketers are practicing SEO. But it can be good news for you. Even a little bit of time and money invested can put you at the head of the pack – and maybe near the top of the search results.

So please: Don’t fall for the rumors that SEO is hard or impossibly competitive. Leave it to your competitors to keep believing that.

What do you think?

Have you used any of these SEO tactics and techniques? How did they work for you? Tell us about it in the comments.

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Act-On Marketing Action Blog

5 fundamentals you can’t ignore with mobile marketing automation (webinar)

Missed it? Access this valuable webinar right here on-demand


Whenever you can automate an aspect of your business, you can generally expect to achieve a hefty speed increase in how your company completes that process. However, when you’re talking about mobile marketing automation (MMA), that improved speed also brings high-quality results.

MMA is all about eliciting data that your marketing team can use to make real-time and future engagement decisions. It helps you engage with your logged-in customers as well as those tricky anonymous users that you haven’t wrangled…yet. With mobile being high growth as well as high churn, how you talk to mobile users can be a critical part of your profitability.

To get some additional MMA insight, we spoke to Marissa Tarleton, chief marketing officer for North America at RetailMeNot, a marketplace platform that helps retailers and brands connect with millions of active shoppers.

Tarleton’s also a panelist at this upcoming webinar and she’s seen more than a few MMA mistakes that companies are committing — and provides some hotspots that your mobile-marketing team should focus on to help boost the quality of your company’s customer conversations:

1. Put mobile first: “As you plan your strategy, as you allocate your dollars, as you leverage your data, you need to start with mobile first, and there are a lot of brands that are failing to do so. Prioritizing your spend in other categories ahead of mobile is likely a poor investment.”

2. Watch all channels: “Mobile is a vehicle that includes a lot of channels — e-mail, push, geo alerts, in-app messaging. You need to think about all of those, and not just mobile in and of itself.”’

3. Consider scale: “A lot of advertisers and brands use geotargeting to enable some of their mobile strategy, which has been very successful, but if there’s no scale and the batches are too small, you can find it’s not an effective vehicle, because you don’t have a large enough audience.”

4. It’s personal: “Critically important is the lack of mobile being personal. A lot of brands and retailers think of mobile as push and blast. I think it’s really important to leverage your data, to understand what customers need and where they need it, and be specific to them, so that all of your mobile communications are as relevant and personal as possible. For instance, if someone works at a mall, you should avoid blasting your message to them; you should be able to identify someone shopping as opposed to an employee driving past the workplace.”

5. Turn consumers into customers: “A lot of brands spend in national advertising for mobile from an awareness perspective, but they don’t translate that into commerce. Geotargeting is a good way of doing that. Building the right mobile destination — even if it’s an “M” website — is also a great opportunity to do that, as well as partnering with an app that enables the in-app commerce experience and in-store transactions.”

MMA is new technology, with even the biggest players only having started to focus on it in the last year or so. That means the best tips and tactics are being rewritten every day. If you want to stay on top of this rapidly changing landscape, you’ll want to get in on the valuable information this webinar has to offer.


Start watching now!

Access the webinar on demand right here.


In this webinar, you’ll:

  • Learn how to increase your effectiveness and your MMA ROI
  • Better target those whales with strategic focused actions via mobile
  • Avoid costly mistakes by buying a luxury solution that looks pretty on the shelf but doesn’t do a lot of good in the trenches.

Speaker:

Stewart Rogers, Director of Marketing Technology, VentureBeat

Marissa Tarleton, CMO, RetailMeNot

Moderator: 

Wendy Schuchart, Analyst, VentureBeat

Check out VB Insight to access the latest research on Marketing Technology.


This webinar is sponsored by Leanplum.

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

VentureBeat » Big Data News | VentureBeat

5 fundamentals you can’t ignore with mobile marketing automation (webinar)

Missed it? Access this valuable webinar right here on-demand


Whenever you can automate an aspect of your business, you can generally expect to achieve a hefty speed increase in how your company completes that process. However, when you’re talking about mobile marketing automation (MMA), that improved speed also brings high-quality results.

MMA is all about eliciting data that your marketing team can use to make real-time and future engagement decisions. It helps you engage with your logged-in customers as well as those tricky anonymous users that you haven’t wrangled…yet. With mobile being high growth as well as high churn, how you talk to mobile users can be a critical part of your profitability.

To get some additional MMA insight, we spoke to Marissa Tarleton, chief marketing officer for North America at RetailMeNot, a marketplace platform that helps retailers and brands connect with millions of active shoppers.

Tarleton’s also a panelist at this upcoming webinar and she’s seen more than a few MMA mistakes that companies are committing — and provides some hotspots that your mobile-marketing team should focus on to help boost the quality of your company’s customer conversations:

1. Put mobile first: “As you plan your strategy, as you allocate your dollars, as you leverage your data, you need to start with mobile first, and there are a lot of brands that are failing to do so. Prioritizing your spend in other categories ahead of mobile is likely a poor investment.”

2. Watch all channels: “Mobile is a vehicle that includes a lot of channels — e-mail, push, geo alerts, in-app messaging. You need to think about all of those, and not just mobile in and of itself.”’

3. Consider scale: “A lot of advertisers and brands use geotargeting to enable some of their mobile strategy, which has been very successful, but if there’s no scale and the batches are too small, you can find it’s not an effective vehicle, because you don’t have a large enough audience.”

4. It’s personal: “Critically important is the lack of mobile being personal. A lot of brands and retailers think of mobile as push and blast. I think it’s really important to leverage your data, to understand what customers need and where they need it, and be specific to them, so that all of your mobile communications are as relevant and personal as possible. For instance, if someone works at a mall, you should avoid blasting your message to them; you should be able to identify someone shopping as opposed to an employee driving past the workplace.”

5. Turn consumers into customers: “A lot of brands spend in national advertising for mobile from an awareness perspective, but they don’t translate that into commerce. Geotargeting is a good way of doing that. Building the right mobile destination — even if it’s an “M” website — is also a great opportunity to do that, as well as partnering with an app that enables the in-app commerce experience and in-store transactions.”

MMA is new technology, with even the biggest players only having started to focus on it in the last year or so. That means the best tips and tactics are being rewritten every day. If you want to stay on top of this rapidly changing landscape, you’ll want to get in on the valuable information this webinar has to offer.


Start watching now!

Access the webinar on demand right here.


In this webinar, you’ll:

  • Learn how to increase your effectiveness and your MMA ROI
  • Better target those whales with strategic focused actions via mobile
  • Avoid costly mistakes by buying a luxury solution that looks pretty on the shelf but doesn’t do a lot of good in the trenches.

Speaker:

Stewart Rogers, Director of Marketing Technology, VentureBeat

Marissa Tarleton, CMO, RetailMeNot

Moderator: 

Wendy Schuchart, Analyst, VentureBeat

Check out VB Insight to access the latest research on Marketing Technology.


This webinar is sponsored by Leanplum.

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

VentureBeat » Big Data News | VentureBeat

’70 percent of CRM installs fail’ and other crappy stats you should ignore

Now and then, you’ll hear a statistic or fact that is so striking, it’s hard to ignore.

“As many as 70 percent of CRM implementations fail,” one Butler Group analyst said, according to analyst Michael Krigsman, who quizzed The Butler Group about this very stat back in 2009.

The media grabbed hold of those words like a bulldog on a new bone and, without checking the quoted report (or even checking if the quoted report existed) ran with it. You know the sort of thing … like when John Lennon was asked whether he considered Ringo Starr to be the best drummer in the world and he supposedly answered: “he’s not even the best drummer in the Beatles.”

The problem is this: Lennon never dissed Ringo, and the Butler Group never reported that statistic.

You won’t find it in any report. The closest we can get is a study in July 2001 (Real CRM: Pitfalls and Potential), and that doesn’t state anything of the sort. But it is the kind of statistic CRM consultants love to quote, as it aids their case when selling services.

In a new report launched today, we’ve discovered — with high accuracy and confidence — that this oft-quoted number couldn’t be further from the truth.


logo placeholder ’70 percent of CRM installs fail’ and other crappy stats you should ignore

sneak peek SoMT 160x140 ’70 percent of CRM installs fail’ and other crappy stats you should ignore

New from VB Insight: The State of Marketing Technology Winter 2015
 — the most complete report on cost, payback, and ROI for marketing tech


Before revealing the results, allow me to explain how we got where we are now.

The State of Marketing Technology report from VentureBeat’s research arm, VB Insight, is our view on the entire martech landscape — all 1,800+ products. With updates four times per year, we are keen to ensure that we approach the industry from a number of new perspectives, because much of the existing research in the space left us wanting.

With some reports, for example, the focus is on one type of marketing technology, such as marketing automation, or conversion rate optimization. With others, the focus is on looking at survey responses or interview data conducted with just a few of the largest companies in the world.

These types of reports produce massively skewed results.

If you believe one of the “Big 4″ analyst firms, nearly 70 percent of businesses are either using a marketing automation platform or currently implementing one. The fact that this study takes in data from 199 respondents that are employed by “best-in-class” companies (read “Fortune 500″) is lost on most people that choose to quote the stat.

In contrast we know that, by looking at data from 3 million businesses in our Fall 2014 report, that the truth — a statistically significant number across all sizes of business, and 151 industries — is much harsher. Marketing technology (as a whole) only has 4.1% penetration, let alone marketing automation.

logo placeholder ’70 percent of CRM installs fail’ and other crappy stats you should ignore

Slide07 300x225 ’70 percent of CRM installs fail’ and other crappy stats you should ignore

It seems that if you want to get your crappy stat some attention, set it to 70 percent.

In our Winter 2015 report, available today, we have again taken data and responses at both ends of the spectrum. We combine big data from partners such as G2 CrowdDashlaneAOL Platforms/ConvertroGlassdoorPayScaleRazorSocial, and Skimlinks with respondents to our own surveys that represent what we call the ‘Fortune 30 million,’ and we look at the entire industry instead of just a sector.

In the process of analyzing all this data, we discovered that the failure rates were much lower than those typically quoted.

Of 2,119 respondents from G2 Crowd’s data, only 77 (3.6 percent) stated that they had received no payback on their technology investment. A lack of payback could be for a variety of reasons. Maybe the technology isn’t working for them. Maybe it isn’t implemented properly. Maybe it was installed recently, and while it will gain a return, it is too soon to tell.

Without going into all the math (I do that in the report), it means that we can state the following: With a high level of confidence, between 1.47 percent and 5.73 percent of marketing technology implementations fail to provide a return on investment over a 3.5-year life cycle. It might not sound as sexy and compelling as “70 percent fail” … but at least it is the reality.

Getting payback on an investment is critical in marketing. If everything you do as a marketer, including buying technology to help you do it, doesn’t add to your organization’s profitability, you should probably not count it as a success.

So what we’re seeing is a far cry from the 70 percent CRM failure everyone loves to quote, and note that the “failures” we did find are in Marketing Automation, CRM, Email Marketing, Social Media Management, Customer Support, Content Marketing, Analytics, and ecommerce. Not just CRM.

You can find out more about VB Insight’s State of Marketing Technology: Winter 2015 report here.

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VentureBeat » Big Data News | VentureBeat

Companies ignore social business strategy at their peril

Listen to part one of this podcast.

Over the past couple of years, trends like social business, the sharing economy and the Internet of Things have had serious impact on enterprise information management. Social business and the collaborative economy have brought customers into company operations like never before, enabling customers to voice their preferences, provide input on production innovation and even contribute to company processes. And the Internet of Things and wearables promise to generate massive amounts of data about customers and how they use products in ways we can’t envision today.

Companies that don’t acknowledge trends like these do so “at their peril,” noted Ron Miller, an enterprise technology reporter and content management expert, who weighed in on these trends in a recent podcast on SearchContentManagement.

Social business. This trend has been making an impact for a couple of years and has changed a much about how companies interact with customers. In the old days, Miller said, “You wrote your marketing copy, your ads and people would come to you. But with online, it’s all turned around. With online social tools, they do their own research and talk to one another. Companies out there who are not taking this seriously do so at their own peril.”

The collaborative economy, customer economies. Miller said that the power of the crowd is self-policing for companies and individuals. It can also help generate a host of new ideas “Community members … let someone know when something isn’t cool. They provide an unfiltered view of customers. They can also act as your help desk. They can even help you to find your product roadmap.”

IoT, wearables. Miller noted that these new data streams will probably trigger new ways of doing business and the need to manage ever-larger streams of data. The impact of these trends is still yet to come, Miller said, but “one thing we know is that sensors will be providing tons of data moving forward. How this data will be managed will also be a major theme next year. “Some will probably be managed by a [content management system], some by other platforms. We could start to see certain types of information trigger certain types of business processes.”

For more, click on the podcast link above or download the podcast.

Next Steps

The CDC on social going viral

Is the sharing economy always good?

Modernizing collaboration software

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