INNOVATION COMMERCIALIZATION THROUGH DIGITAL DIRECT MARKETING
As I have mentioned throughout The Digital Innovation Playbook, innovation has gone digital. I believe the term “digital innovation” will soon become as common as the term “open innovation” has been over the past decade. You can probably describe innovation in its totality of having three phases:
1. Listening to your customers, the market, and technology trends.
2. Creating or developing.
3. Commercializing with layered customer value (this is where digital direct marketing comes into play).
Innovation, product, and service marketing are now a digital phenomenon. One of the world's experts in the area of direct marketing is Ken Robbins, CEO of Response Mine (www.responsemine.com). In this chapter, through Ken's expertise, we look at how conventional direct marketing has now become digital direct.
Direct Response Marketing: Advertising's Measurable Cousin
Over the last 40 years a scientific form of marketing, direct response marketing or DR, has grown to consume more than half of all U.S. advertising dollars. This alternative to more traditional brand advertising uses rational arguments to elicit real-time responses from the consumer. DR's objective is simple: increase sales and profits by maximizing marketing return on investment, rather than by maximizing general audience awareness.
How does DR maximize ROI? It tests different ads and media placements against one another, measures the results, ...