By Mark Magic Eberra M.A.
Out of all the buzzwords in Marketing and Advertisement in 2015, “Big Data” has to be my favorite! Because it sounds really, really important! But is it really that big of a deal?
Keith Weed, Chief Marketing Officer at Unilever recently stated,
“We talk about big data, but it’s about big insights.”
l would tend to agree here with Mr. Weed. However the insight that every CMO should ultimately be focused on is sales. This is even more pertinent when it comes to justifying Marketing and Advertising expenditures which can easily top several hundred million dollars per year for a single Fortune 500 Company.
After all, during quarterly earnings calls, Analysts don’t ask the CEO about Big Data. They ask about increased sales.
That’s because investors, the people that purchase the company stock that feeds those big advertising budgets, are looking for a return on investment. Investors know that a true ROI comes from rising profits, which can only happen with increased sales, not from stats, clicks, likes, or views.
And favoring data over sales, or profits becomes even more counterintuitive when you realize how much value is given to counting the number of views a video receives. Companies like Google have created multi billion dollar enterprises by charging advertisers for the number of views a video receives on Youtube. Yet, as l pointed out in a previous article, how many views can you deposit in the bank?
I recently watched a video of senior executives at one of the largest brands in the world explain with pride that 70% of the online video Ads they purchased thru a programmatic video platform were viewable. According to the Internet company that sold them the Advertising, the industry standard is 50% of online video Ads are viewable for 5 seconds, so apparently these gentlemen must have been told they were getting a great deal to have 70% of their Ads seen. To which my immediate reaction was, and you are happy with that?
First of all, If l have to pay for 100% of the Ads l buy then 100% better be able to be seen!
And in what world is getting only 70% of something you pay for acceptable?
Let’s take such thinking to it’s logical conclusion.
You order a “meal” deal at your favorite fast food restaurant, pay full price, but you only get your drink and fries, no burger. Or you buy a large bottle of soda pop and the bottle is only 70% full.
No consumer in their right mind would accept such standards when spending their hard earned dollars and neither should businesses when buying advertising. And even when the “viewability” issue gets fixed, the problem is still only halfway solved. Because no matter how many views, ratings, eyeballs, clicks, or likes Ad technology can generate, it doesn’t really count unless you can spend it.
There is really only one solution; whenever you buy advertising, make sure you get a GSI™, Guaranteed Sales Increase for every product you advertise, whether it’s online, or on TV.
For example, if you spend $1 million dollars on Advertising, then ask for and get a Guaranteed Sales Increase of $2 million dollars. That way you would make your $1 million dollars back and an additional $1 million in profit as ROI. That’s every investors dream, and the technology that makes it possible exist today. When you conduct your advertising business this way all the risk and problems of Big Data go away. Just remember, before you buy get a GSI™!
Attend a live lecture and Q&A by pioneering inventor Mark Eberra titled
GSI™ THE WORLD’S MOST VALUABLE EQUATION: Why Your Job Depends On It
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