Just like the age-old saying- what came first…the chicken or the egg, in the world of marketing, we often question what comes first- marketing strategy or product innovation.
Marketing strategy refers to a plan, determined by customer’s needs, so companies can assure they are marketing a product that is of interest to their company. Marketing is the underlying, constant source of getting a product known about, and seen by those interested.
Marketing innovation, refers to a ‘big idea’ or piece of technology, within the original product, such as an update or launch. Of course, you might think this comes first, with the launch of a new product, which to an extent it does…however, how would you know there was a space in the market for your product without conducting market research?
It’s all very well conducting thorough marketing research, but how would you know what to research without an innovative idea or concept to start with? This is the age-old question within marketing, where exactly does it all start?
Honestly, it would be really difficult to define the exact point that can be established as the first step in developing and marketing a new product. The important element to consider thoroughly, and continuously throughout the very early stages of marketing and innovation, is that these aspects work side-by-side, and one simply won’t work as well without the other.
The closeness between marketing and innovation, is what allows them to change and evolve quickly according to consumer trends; what one lacks, the other excels. This concept applies to all industries, from tech to hospitality and retail to transport. It’s an industry wide trick, that can ensure a product maintains success and lifespan, keeping the marketing campaign innovative, and developing innovation according to marketing results.
A benefit of using online advertising techniques, as opposed to traditional printed methods, is the fact that digital methods such as display ads allow users to accurately track the success of a campaign, and know that the results they are seeing is a genuine reflection on how well the campaign has run. This then lead to more successful innovation, as market testing
The key is to maintain close involvement of innovation in marketing processes, and marketing in innovation processes, to ensure the two can work together to optimise the strength of your product, and increase its longevity within the market.
When it comes to using videos within your online advertising campaign, it can often be difficult to understand and record how successful this has actually been in terms of views. According to Marketing Land, both Facebook and Twitter regard a video view as only 3 seconds, whereas YouTube regards a view as anything over 30 seconds.
The difference between these considerations is huge, and can cause a lot of confusion when it comes to advertisers.
Essentially, how can you accurately measure how many people have properly viewed your video, is near enough impossible. If a view counts as as little as 3 seconds on Facebook and Twitter, regardless of the overall length of the video itself, what is the most effective way of tracking the success of your video?
The answer is, there isn’t! Until these platforms recognise that 3 seconds is far too short to count a review, you have no real way of measuring how many people have actually seen your video. The chances are, most people are viewing your video for more than 3 seconds, but there is no way of monitoring this, so how are you meant to know for sure?
However, if you have a video that is short, perhaps only a few seconds long, this probably isn’t an issue as 3 seconds may be the majority of your video. The key, is to ensure your important information is as near to the beginning as possible, to ensure that even if people aren’t viewing it for very long, your message is still getting across in that time. Alternatively, if you have too much to say in only 3 seconds, make the start of your video as intriguing as possible, so people want to stay and watch it for longer.
So there are ways to optimise using videos, and to work around the extremely short viewing time. There is no reason to suggest that just because the views counted are very short, that people are not viewing videos for longer, perhaps even the entire length. The issue though, is how this can be measured for advertisers, in order to measure effectiveness of videos for future reference. YouTube regard a view as anything over 30 seconds, which may seem too high, as often we view parts of videos to find the information we want, which could, and should, be available before the 30 second mark. Attention spans can be extremely short, so maybe a time in the middle of these would be a more effective way of measuring, for example 10-15 seconds.
Regardless, email marketing can be a very tricky tool to use, simply because measuring it’s effectiveness is not always accurate. However, it has been shown that videos do get more engagement than static images, so all in all they are a great way of getting your message across in a creative way. It is important to just be aware of how your views are counted, and that they may not be entirely accurate every time.