“Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.“
– A popular quote generally attributed John Wanamaker
US department store merchant (1838 - 1922)
The above quote emphasizes a major problem of marketing i.e. ROI. Despite of spending millions and hiring an army of associates, marketers realize that the returns on their marketing investments were not worthy. And they are unable to relate sales to various channels of marketing used by them.
Conversion Marketing is a very common phenomenon in online retailing for efficient conversions. But I think it can do wonders if it is applied in context of physical retailing, especially for brands dealing in necessities (FMCG)…….
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Rajeev Damani 
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November 4th, 2008 at 9:30 am
I will get the doc. I also remember Motorola CEO, saying we spend millions each year to be in the same place.
November 4th, 2008 at 3:01 pm
How apt, specially in today’s context!
Even going by the jovial comments quoted above, it may be safely assumed that “billions” are spent every fiscal, in experiments.
Unfortunately, will the stakeholders / owners ever realise why? It’s not really that difficult.
They just need to look at their “people”.
Before HR comes in with their annual “haul” of B-School scalps,
While the wise seniors are glazing their collective cataracted eyes over “too-good” powepoint slides churned out by the over-rated scalps, during their board-screenings,
When the selected “gods-gift-to-mankind” ivy-leagures shoot “visionary-quality” numbers on their annual projections
And also while the same guys announce, deadpan, that they have received an offer from another blue-chip corporation, which they simply cannot refuse!
Does any HR department have a list (black?) where they actually gather data about rela performances of high-flying execs? Either on their rolls, on others’?
It’s time they did.
Simply, as every such million dollar experiment either makes the thin-arrowroot biscuit get thinner or collectively pull the rug away from our finacial feet.
You and I always end up paying for these millions…..
November 7th, 2008 at 5:43 am
Thats what excatly we are trying here.we are into mobile couponing business,which help companies to improve conversion at retail outlets.for more info about us visit http://www.moneysaver.in