Marketing Intelligence, nothing new
The idea of media convergence is not anything cutting edge; back in the 1990’s, barely at the onset of the digital revolution, the debate had started and the older media tycoons started putting up a fuss. Budgets were moving from print and into digital, media and publishing houses had to change.
It was an exciting time in the industry as we approached the early 2000’s when digital started competing and influencing technology for the first time. Now over two decades later we start to see Media Convergence popping up in conversations around boardroom tables and coffee shops.
Owned, Earned and Paid Media
For the uninitiated, it is all about combing your three forms of marketing (in a digital sense). In other words:
On-site (i.e. your website) activities such as SEO and blogging
Social awareness and community interaction (e.g. Facebook, Twitter, Instagram)
The digital marketing that you pay for (e.g. AdWords PPC/CPC or Social PPC)
The great thing about these channels is that they speak to the maturation of a company. Initially, the company needs awareness, so a good website and SEO are important. Once that works, they move onto things like social channels and continue to increase their community base. Finally, paid marketing is the final evolution of their Brands media awareness as they shift to a KPI or ROI based marketing model.
The problem, although compounded by the amount of different agencies/suppliers these companies would now have to work with, is that all of this is ultimately doomed by the lack of insight into how these channels affect each other. Marketing convergence ultimately relies on clarity across all your data sources/reports to gain any kind of insights.
Brands are more than likely working across multiple reports, from their different agencies/suppliers, across the three forms of media – all using different metrics and no common KPI’s.
How beautiful data in the digital space would be were it not for the lack of a single view into how these channels perform alongside each other or how they influence each other.
At the heart of this lies Media Convergence. For a well-established company, it can mean the re-structuring and re-alignment of all reporting sources. Or for the new business in the online space; a chance to get it setup right from the start.
At which point does a user, having seen your Brand advertised somewhere, go through another method to find you or to learn more about you? Perhaps they go find you on Facebook for the Brand community sentiment or look for your products or services on Google instead?
How can we clearly see what patterns and what habits our consumers have? Are my efforts paying off or is the return not worth the resources.
Having come from a background working with large corporations on these challenges, Trend Digital can help you align with global practices at any end of the scale.