Interesting (and Some Surprising) Marketing Data
I love real data derived from statistically-significant research from real business owners...
On marketing in general...
- 60% of business executives lack confidence in their marketing decisions and list it as the biggest reason for their lack of growth
- Only 30% of mid-sized companies feel they are competent in branding, advertising, print collateral, and direct mail
On different types of marketing...
- Newspaper readership has declined by 22% since 1990. To recoup losses, newspapers have doubled advertising rates [NVL comment: speeding up their demise, no doubt! Try cutting costs and pivoting your plan instead?]
On the importance of advertising and keeping it up...
- Companies that advertised aggressively during the '80-'85 recession had sales 256% higher than those that stopped advertising
- To cut costs, US milk producers pulled ads in the early 1990s. As a result, milk sales were drastically lower and once advertising resumed, it took 18 months for sales to rebound from an ongoing rapid decline
- On average, companies that eliminated ad spending had revenues drop 75% and took 5 full years to recover
On new product launches...
- 51% of the roughly 21,000 new brands introduced worldwide per year will fail
- In 2005, 156,000 new products were introduced globally and 75% of them failed
On email marketing...
- 30% of Americans change email addresses annually
- 69% of emails are deleted based solely on the subject line, while another 30% of email is blocked by spam filters
On consumer preferences...
- Consumers prefer to receive promotional offers by direct mail, rather than by online banner ads, email, or telemarketing
- Consumer response to advertising is five times higher when companies have advertisements that are relevant and make a compelling offer
- Consumers prefer to respond to an advertisement or promotion online, rather than by mail, telephone, or in-store
On direct mail in particular...
- Direct mail advertising ROI has continued to increase year-over-year and is currently estimated to return $11.73 for every $1 invested
- Direct mail influences 76% of internet users to buy a product or service online
Source: The Association for Corporate Growth survey
- February 11, 2011
- Sales and Marketing
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