Marketers spent 9% of their budgets on websites, the most out of 14 spend categories surveyed. Website spending increased to 14% of the budget for marketing leaders from media, including publishers and entertainment companies. This is consistent with a broader trend of replatforming websites to provide richer, more responsive, more personalized experiences.
VCs know finance, and many startup founders are software engineers – and both typically understand and value only immediate metrics. They need to show fast results. Concepts such as brand building are foreign to them.
The VC model condenses a company’s entire life cycle into an artificial 10-year lifespan with the goal of a quick exit. In marketing terms, this means being low-rent media companies that distribute cheap “content” to generate clicks to a website, tracking and targeting people with direct response, and maximizing lead conversions through bait-and-switch tactics.
For VC-funded startups, it is sacrilegious to think about sacrificing one sale today for five sales tomorrow by allocating 60% of resources to brand building and 40% to activation for the greatest long-term success. When this mentality travels down the food chain from the VCs to the founders and to the staff, marketers focus only on immediate conversion rates even though digital metrics have significant faults.
Just on the ClickMeeting platform in 2017 alone, there were 595,095 webinars organized, which gives us 1,630 events a day. They gathered nearly 17 million attendees.
“Many people, when they talk about CRM, or ERP of old, they referred to them as systems of oppression, they captured data,” said Alysa Taylor, Microsoft corporate VP for business applications and industry. “But they didn’t provide any value back to the end user — and what that end user really needs is a system of empowerment, not oppression.”
Consumers in the US have increasingly turned to larger cars such as crossovers and sports utility vehicles.
Volkswagen, in the wake of the diesel emissions scandal and huge investment in electric vehicles, says it will look to slim down its model range with a greater focus on family and electric cars.
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