TimHere's a question about how to market small business in a privacy-preserving way, cunningly disguised as a blog post. I would LOVE comments and suggestions!
https://hodzilla.com/2023/07/11/marketing-that-respects-privacy/
Laura Ritchie 🌸@mindshoot if it's a local audience, is radio any good?
@lauraritchie hadn't really considered that, interesting thought. I should check if there are any really local radio stations - I'm thinking town level really, eg within a ten minute drive. Thanks, interesting!
wuerglerGood thoughts.
We should remember that with marketing, esp. advertising, it was never easy to determine "which half" was (not) wasted 😄
cf. https://staff.washington.edu/gray/misc/which-half.html
Advertising with #GAFAM may seem cheap, no effectiveness questions asked. And getting a message across is vastly different from triggering a buying decision ...
Btw, I still think the 10 years old eBay study has many enlightening aspects when it comes to paid ads.
@wuerglerit @lauraritchie I haven't come across the eBay study, would you happen to have a link to it? Sounds like it would be worth a read!
@mindshoot @lauraritchie
Here is a popularized, somewhat funny story about this, I think relating to a 2013 paper (I know I have a PDF, trying to find it and the original URL).
Its on Prof Tadelis' page: https://haas.berkeley.edu/faculty/tadelis-steven/
"Consumer Heterogeneity and Paid Search Effectiveness: A Large Scale Field Experiment. Econometrica. 2015"
Well, a paper, technical language etc. ... for me almost sufficient (from my 2013 preliminary PDF):
"Our findings suggest, however, that even incremental clicks do not translate into incremental sales."
"Nonetheless, the majority of these clicks did not result in incremental sales."
Steven Tadelis - Berkeley Haas
Steve Tadelis is a Professor of Economics and Sarin Chair in Leadership and Strategy at Berkeley Haas. His research primarily revolves around e-commerce and the economics of the internet. During the 2016-2017 academic year he was on leave at Amazon, where he applied economic research tools to a variety of […]
@wuerglerit @lauraritchie thanks, I'll dig in!
This reference to "incremental clicks" is interesting and highlights the "brand awareness" vs "we exist" distinction - we are still at the point where we are trying to create any awareness to create some initial clicks..!