tag:blogger.com,1999:blog-32202893.post5125596971184112787..comments2023-10-18T08:32:17.510-07:00Comments on Kevin Hillstrom: MineThatData: 16 Multichannel Marketing MythsUnknownnoreply@blogger.comBlogger21125tag:blogger.com,1999:blog-32202893.post-65907561975914000322013-04-16T03:19:12.341-07:002013-04-16T03:19:12.341-07:00Everyone knows how to important Facebook has becom...Everyone knows how to important Facebook has become. Facebook is the most popular social network in the world. So <a href="http://www.getnewfans.com/" title="getnewfans.com" rel="nofollow">buy Facebook fans</a> for your business and get more traffic. Thanks for nice information.Anonymoushttps://www.blogger.com/profile/15572507005873544073noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-78496404806512386172010-08-01T14:43:22.456-07:002010-08-01T14:43:22.456-07:00Thanks for the comment, Richard!Thanks for the comment, Richard!MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-64736872687661354942010-08-01T13:44:09.702-07:002010-08-01T13:44:09.702-07:00Excellent list.
"Testing whether to use a l...Excellent list. <br /><br />"Testing whether to use a large green button or a small yellow button..." will make someone inside the company or outside the company feel important but it will not be the customer. I always hear and read about people who talks about the colours of buttons.Richardhttp://www.butik21.co.uk/noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-76320020019683186102010-07-30T20:40:50.998-07:002010-07-30T20:40:50.998-07:00Thanks Kevin, definitely looking forward to it!Thanks Kevin, definitely looking forward to it!Alvin Tanhttp://zuupy.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-9729052496995477742010-07-30T08:17:19.786-07:002010-07-30T08:17:19.786-07:00Interesting readInteresting readSterling Mckinleyhttp://mckinleymediagroup.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-88923729400610275432010-07-30T07:49:39.065-07:002010-07-30T07:49:39.065-07:00Ok, I'll put something up next week about half...Ok, I'll put something up next week about half-life, thanks!MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-28591560558144785402010-07-30T06:04:41.672-07:002010-07-30T06:04:41.672-07:00Excellent article, Kevin. I would really love for ...Excellent article, Kevin. I would really love for you to elaborate more on this: "Testing and optimization works when you are testing strategies that have a long "half-life"."<br /><br />A future blog post, perhaps?<br /><br />Keep it up anyhow, and thanks for the insights.Alvin Tanhttp://zuupy.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-6434572690916497542010-07-12T15:56:30.126-07:002010-07-12T15:56:30.126-07:00No, the numbers from the DMA are accurate, they ar...No, the numbers from the DMA are accurate, they are just highly, and I mean HIGHLY misleading!<br /><br />When you take either sales or profit, and divide it by the cost of the activity, you completely mislead your audience.<br /><br />Using their findings, you get $7.32 for every dollar spent mailing a catalog, whereas you get $43.62 for every dollar spent sending a e-mail message. However, as all marketers know, e-mail is so close to free as to essentially be free.<br /><br />So, when I visit clients, I continually see the following story:<br /><br />Story #1: Mail 1 catalog, get $3 in sales on $0.60 of cost, yielding about $0.60 of profit.<br /><br />Story #2. Mail 1 e-mail message, get $0.20 in sales on $0.002 of cost, yielding $0.08 of profit.<br /><br />Now, from an ROI standpoint, e-mail is better (0.20 / 0.002) than catalog (3.00 / 0.60).<br /><br />From a profit standpoint, e-mail delivers peanuts compared with a catalog. I want profit dollars, because profit dollars pay the bills, not ROI.<br /><br />That is where the DMA misleads the audience. They do not focus on profit dollars, and they should, because CEOs focus on profit dollars.MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-67657270433143453932010-07-12T14:42:22.578-07:002010-07-12T14:42:22.578-07:00Hi Kevin,
A pretty thought provoking post! I thin...Hi Kevin, <br />A pretty thought provoking post! I think it's true that companies need to choose the channels that are right for them and their customers, not just do something because everyone says they should. <br />One comment on your first point: it's not the e-mail marketing community saying e-mail has the highest ROI, it's the Direct Marketing Association, which also measures catalogs. The 2009 report stated e-mail's ROI at $43.62 and catalogs at $7.32 (as seen in this article: http://directmag.com/magilla/1020-e-mail-roi-still-slipping/)<br />Do you think the DMA figures and/or methodology are incorrect?<br />Full disclosure-I work for an ESP. :-)<br /><br />Thanks<br />LizLiz Lynchhttp://www.e-dialog.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-52330289401005479212010-07-07T10:34:14.441-07:002010-07-07T10:34:14.441-07:00Yup, campaign metrics are not a proxy for customer...Yup, campaign metrics are not a proxy for customer measures, so true!MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-28198868311190370642010-07-07T10:04:57.946-07:002010-07-07T10:04:57.946-07:00CHURCH!! :-) This is definitely one of my favorite...CHURCH!! :-) This is definitely one of my favorite posts of yours, Kevin! Although I must say it's also probably one of the scariest. Knowing the truth is much easier than living the truth, especially as an employee. Presenting both information AND context completely honestly (e.g., explaining to executives how your results can vary) is usually punishible by blank stares (or worse), even for the "rock star" analyst. Even so, it's heartening when an expert like yourself tells it like it is (that's right people, campaign metrics are not a proxy for customer measures, for the love...) Analysts of the world, have courage!Lorinoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-10957973276156823892010-07-06T09:40:14.552-07:002010-07-06T09:40:14.552-07:00The good thing about your team, George, is that th...The good thing about your team, George, is that they are willing to point out positives and negatives, and are willing to do what is right for the client.<br /><br />At your summit in May, the thing that impresses me was when you pointed out that allocation outcomes vary based on the statistician who is doing an allocation analysis ... most folks would say their results are what they are, not that they can vary.MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-7291719340902210122010-07-06T06:04:45.097-07:002010-07-06T06:04:45.097-07:00Kevin,
Great stuff as usual. I think the volume ...Kevin,<br /><br />Great stuff as usual. I think the volume of "marketing pap" out there is a product of two human weaknesses: laziness and boredom. <br /><br />Humans are suckers for quick fixes, be they diet pills, or marketing ploys. Fixing the real problems are hard work, and no one wants to hear that the way to lose weight is to stop eating like a pig and get some exercise.<br /><br />People also don't want to listen to marketing talks about "blocking and tackling," even though focusing on the core fundamentals is the key to success. They want to hear about the latest and greatest, even if they don't execute the fundamentals well.<br /><br />Ah well, it keeps the conferences busy :-)George Michiehttp://www.rimmkaufman.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-37804553807515127262010-06-30T21:36:15.843-07:002010-06-30T21:36:15.843-07:00Thank you David & Jason!Thank you David & Jason!MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-38634595154538140592010-06-30T20:49:09.277-07:002010-06-30T20:49:09.277-07:00Excellent myth busting. Sometimes the emperor has ...Excellent myth busting. Sometimes the emperor has no clothes and we need to be willing to say so... even if we're huge fans.jason schubringhttp://www.twitter.com/jasonschubringnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-42004966731626096142010-06-30T10:45:45.445-07:002010-06-30T10:45:45.445-07:00One of the implications of your post, Kevin, is ho...One of the implications of your post, Kevin, is how our industry trade press struggles to report real data, rather than print stuff some self-interested party wants to say. <br /><br />Many, if not most, of the myths you've identified have been promoted by people who sell the services which will benefit from the myth.<br /><br />Thanks for the reminders.David P Himeshttps://www.blogger.com/profile/18362353234349984085noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-58779284444187417692010-06-30T08:49:10.090-07:002010-06-30T08:49:10.090-07:00Thank you Ernie & Casey.
You do tend to see l...Thank you Ernie & Casey.<br /><br />You do tend to see lasting impact on the audience and merchandise front.MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-7574690122109805252010-06-30T08:37:10.854-07:002010-06-30T08:37:10.854-07:00Very insightful and entertaining post - I always e...Very insightful and entertaining post - I always enjoy a nice blend of pragmatism and sarcasm<br /><br />I would like to echo your site optimization myth. We see a lot of companies testing and optimizing design elements like hero shots, buttons, text layout, often with impressive results. The longer-term strategy and greater overall benefit come from testing and optimizing audiences (segmentation) and offers (products and pricing). The lives of these elements are much more enduring and focused efforts here will provide greater strategic insights and actions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-30382739531951566752010-06-30T08:18:43.259-07:002010-06-30T08:18:43.259-07:00Incredibly valuable wisdom, Kevin. Thanks very muc...Incredibly valuable wisdom, Kevin. Thanks very much for that!Ernie Schellhttp://www.schell.comnoreply@blogger.comtag:blogger.com,1999:blog-32202893.post-18437602034087923912010-06-30T06:54:26.881-07:002010-06-30T06:54:26.881-07:00Thank you sir!Thank you sir!MineThatDatahttps://www.blogger.com/profile/14014200122021988374noreply@blogger.comtag:blogger.com,1999:blog-32202893.post-39395015627457812462010-06-30T06:15:19.334-07:002010-06-30T06:15:19.334-07:00Great post Kevin! I don't have much to add, as...Great post Kevin! I don't have much to add, as you covered a great deal in this post. I agree with your Social Media conclusions. If you cannot directly attribute profit to your tweets and facebook wall posts, then call it what it is: <br /><br />Having fun at work while maybe increasing your business exposure and reach.<br /><br />I'd rather put the energy into a blog, PPC long-tail search ads that have great ROI, and improving customer service and the product you offer. Works wonders for the true industry leaders. :)Rob Mangiaficohttp://www.lexiconn.com/blog/noreply@blogger.com