π€π§βπ€π ROI: Not the Whole Story!
ROI doesnβt tell you marketingβs real impact.
Why it matters: People throw around ROI like Oprah giving out cars.
What to know: ROI often leads people to focus on the short-term.
Last-click attribution is a dangerous hole that many marketers fell into due to being rewarded by the algorithms.
Last-click attribution fails to account for:
Brand power
Brand building
Pricing sensitivity
Research shows that investing in short-term sales activation at the expense of long-term brand building will cause your sales to crater.
It isnβt one or the other, but both.
Use this: Invest in your brand and sales activation.
Example: A theatreβs season subscription should focus on their vision of theatre. Not the specific shows.
Those specific shows, help.
The big win is creating a brand that your audience trusts and buys: no matter what.
Example: Why do legacy acts sell better than newer musicians?
Brand Power: Pearl Jamβs fan club has spent 30 years building a brand for the band.
Another way: Billie Elish seems to pop up everywhere.
She sells tickets.
Brand power.
It isnβt chicken or egg, attention drives brand power. Brand power drives ticket sales. Everything else is luck.