Digital Marketing Post #1

My name is Eric Ritter and I am currently in my senior year on pace to graduate next winter quarter. I am taking this class because I see it as one of the most important marketing electives. Digital marketing is increasing each year and it looks like that trend isn’t going to stop considering the marketing forecast article predicts that in 2016 advertisers will spend as much on interactive marketing as they do on television advertising. To me, this should be one of the required marketing electives as it seems relevant to any job in the marketing capacity. I would like to learn how to effectively and efficiently market through social media and the do’s and do not’s of it. I want to know how and why certain companies market the way they do digitally and what makes those techniques so successful and others not as successful. I want to be able to come out of this class being able to notice changes I would make to a companies digital marketing platform to make it more efficient and effective in the ever changing digital market.

The first article about the knowledge and skill requirements for marketing jobs in the 21st century showed the importance of what knowledge and skill sets are useful in today’s marketing jobs. This article talks about a research study aimed to analyze three questions that included level of position and what skill sets each position is required to know and whether those positions differ in different types of geographic areas across the countries. One interesting stat that I saw from the data were how important it is for an entry level position to know technical skills such as office and outlook since 57.8% of entry level jobs included them as a requirement. This was a lot different than an upper management job where only 25% of listings had those skills required. The upper management jobs focused a lot more on personal skills as 75% of listings had team, relational, or leadership skills as a job requirement. It was interesting to see differences like these and how they can affect the marketing curriculum. I agreed with the article where they recommended to incorporate more technical skills in the marketing department. I also thought after reading the article that marketing curriculum’s should teach more of real life scenarios using the technical skills that also incorporate other meta-skills. Since technical skills are a growing requirement in entry level positions, knowing those while having good meta-skills seems the most important. The article explains how an earlier study showed “marketing graduates rely more on skills than marketing knowledge for their jobs.” So, it seems like having good team skills and being able to build relationships while also applying technical skills to real life experiences would be the most successful for a marketing curriculum to best prepare their graduates for jobs in the marketing field.

The second article shows just how important digital marketing has become and how it will continue to grow in the future. This just tells me how important this class will be in applying these skills to marketing jobs. By 2016, various types of digital marketing will cost $77 billion and represent 35% of all advertising. This makes it the second biggest platform now. Although I could ramble on about all the interesting stats about the growth of social media marketing, here are a few I found really interesting:

  • How social media management is relatively low-cost. Listening platforms only cost about $5,000 – $10,000 a month where as a paid search budget could range between $500,000 and $3 million per month.
  • How email connects just about everything and works as the “workhorse” but is also very cheap. Travelocity increased their bottom line by 12.3% by simply just customizing email offers to lapsed customers.
  • At the end of 2009, 60% of marketers had fewer than 10 people dedicated to interactive programs. Now, only 17% have teams this small and 20% have more than 100 people on this staff.

Based off reading the article and the facts given, it seems to me that social media would be the most efficient way for a smaller business without much advertising dollars to market. Before reading this article, I didn’t realize how much more effective a successful interactive marketing campaign can be in terms of dollars spent. Just look at Oreo’s successful 2013 super bowl commercial during the blackout. They put an image online that said “you can still dunk in the dark” which got nearly 15,000 re-tweets and more than 20,000 likes on Facebook. This turned out to be very cost beneficial in terms of how successful it was since they only had a 15 person social media team ready to respond to whatever happened during the Superbowl. Here is a link for more information:

http://www.wired.com/2013/02/oreo-twitter-super-bowl/

Overall, this article proved to me the importance of the growing interactive media and although spending is going up for it, it is proving to be more successful than ever with the increase usage of the internet.

The third article is all about the state of digital marketing and about the talent gap between current digital marketers and what they need. The first section talks about the substantial gap between the need for strong digital marketing talent, and the skills in that people currently in the field bring to the table. It talks about how their isn’t sufficient focus on grooming this talent as 22% of people say that the need for specialists is growing. This tells me how important digital marketing classes are in a marketing curriculum and the importance this could have on future jobs. The biggest talent gap is on the analytics side of marketing, where there is a 37% in what skills are very important for applicants to have. Another part of the article I found important was the skill assessment attitudes and plans for implementations. The article says how just 32% of employees are satisfied with their company’s efforts at assessing new hires and how just 28% of larger enterprises plan to introduce a formal training program to improve digital marketing skills. If there is such a big talent gap, then why not introduce a formal training program? If 76% of employees say that access to an on-demand library of classes would be valuable to them in the digital marketing field, then why not have more of those? It seems to me that the training and education has not caught up to the importance of the digital platform. Having a social media failure can lead to negative talks about the company. KFC’s 2013 #IAteTheBones twitter experiment was a massive failure and showed that the need for a better digital marketing team was needed and the talent gap was large. They invested approximately $50 million in their campaign, however, it went terribly wrong. They had an 81% positive sentiment on Twitter, but after their campaign, they had a positive buzz around 51%. Here is a link to this article for more information:

https://www.linkedin.com/pulse/20141002125255-10940683-social-media-and-digital-marketing-epic-fails

In the end, the talent gap proves to be large in the digital marketing segment of the marketing department. However, this is something being looked into and should improve in the future.

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