Carolyn Hansen |
on March 2, 2009 |
category: integrated marketing |
Shifting marketing budgets from offline to online.
It’s easy to use this forum to poke at what others do. Making fun is fun -- and I indulge that guilty pleasure here often enough.
So, please note: I just read a recent interview that made me want to stand up and cheer. And I am telling you about it here, hoping this kinder, gentler post will provide contrast to those meaner, snarkier ones I usually write.
Beverly Thorne, SVP at Century 21, was interviewed by eMarketer about why and how she shifted budget from TV to digital.
It took some time and patience, but she and her team were able to measure her advertising’s ROI. She says:
We used both internal metrics and tools and external third-party measures. We made media investments in 2008, and each week and each month we measured what came from them in terms of leads generated. The most important metric we have is an internal proprietary tool which tells us what kind of leads are being generated.
This sounds like a lot of work, including building proprietary tools and waiting week after week for the analysis to be done. But here’s the payoff:
From December 2007 to December 2008, we improved the efficiency of our lead generation by reducing our cost per lead over 60%. At the same time, we multiplied our number of leads by over 235%.
I congratulate Ms. Thorne for pulling it off.
