The reality is that we live in an offline and online World. The trouble is many businesses either have no or very little online presence while others spend most of their time and money on their online marketing. From my observations, very few businesses have the right balance between online and offline marketing.
75% of Retailers Get it Wrong
If your business is predominantly B2C, particularly small value retail then you’re mad if you’re not investing in an online presence. The evidence is overwhelming (Amazon, eBay etc) that more and more consumers prefer to buy online. The fact is that only 46% of such retailers have a website and less than half of these have an ecommerce capability (Big Commerce Survey 2016).
80% of B2B’s Get it Wrong
As a Marketing and Printing Business I have a particular interest in the B2B space and get to see first hand how out of balance most businesses are. Here are some facts based on my own observations:
Email Vs Direct Mail
I receive over 300 emails (excluding spam which is a whole other story) every day while over the last month I only received on average 1.5 promotional mail pieces per day. A key aspect of marketing is to “Standout and Get Noticed” so you tell me…how much more effective is direct mail?
97% of B2B Sales are Made Offline
I recently surveyed a number of B2B businesses and observed the following:
* 35% didn’t have a website
* Of the 65% that had a website 87% of their websites where “cyber brochures gathering cyber dust”, in other words a total waste of time and money.
* Of those with an ecommerce capability (less than 2%) the average ecommerce revenue represented less than 3% of their total revenue
* On average 35% of their marketing budget went into online activities…for 3% of sales!!!!
Chasing Shiny Baubles
I’m like most people…I’m easily distracted by the bright shiny new object and have had to develop a strong filtering mechanism to ensure I place my time and money on the right mix of offline and online marketing. The above facts scream out at me that the overwhelming majority of businesses lack a similar filter and as a result are missing out on growth opportunities.
What are you doing to ensure you have the right balance in your business?