The biggest myth facing digital (and all the activities from social media, advertising, and marketing that fall under that title) is that it is still viewed as something that cannot fully track sales, being incorrectly lumped into the same categories as print, television, and radio.
In reality, 100% all digital activities can be tracked down to a dollar and cent value via 1×1 conversion pixels that can be placed at the conversion/thank you page for any client, selling any product, on all major ticketing systems.
Most verticals outside of the arts have realized this for years, and have adjusted their spends accordingly.
Looking at Lexus (a decidedly “older” car), recent data showed their spend allocation at 50% traditional and 50% digital/emerging technologies. For the always progressive Virgin America plan, 70% went to digital and 30% for traditional. Looking at Converse, 90% of the spend went to digital and content development (which, inevitably, is distributed via digital avenues) with only 10% left for traditional advertising means.
The arts, meanwhile, appear to be hesitant about shifting dollars. Read the rest of this entry »