Companies like Varick Media Management, recently profiled in the New York Times, are developing new ways to use statistics to measure the effectiveness of marketing efforts. In a recent ad campaign for Vespa scooters, Varick placed 27 different ads on a variety of websites. Some ads focused on price, while others highlighted the fun of owning a scooter. Some offered a free T shirt; others offered zero-interest loans. The ads used different shapes and different illustrations. After the campaign had been running for a while, Varick was able tell its client which ads were most effective by counting clicks.
This kind of statistical approach doesn
Marketers face some tough choices in these challenging economic times. How much of their budgets should they devote to new advertising options such as social media? Is this a time to cut back on marketing budgets, or should marketers spend more to compete for scarce consumer dollars?
A recent marketing survey conducted by Adweek provides some useful insights into what experts in the field are thinking and doing right now. Participants were given a menu of responses to the question,