So Jim Hedger nicely commented on my recent interview with Richard Zwicky over at Enquisite. I have a little riff on Jim Collins' hedgehog concept, rolled in together with some statistical viewpoints about the overall size of the SEM spend in relation to marketing and advertising as a whole - something I try to convey in seminars, book, etc. Labels: advertising budgets, hedgehog concept
Jim mentions this as "injurious" and "potentially limiting". On the injurious front, especially since his name is Hedger, I'll take that as tongue in cheek, of course :) . But the idea that the sum total of SEM does indeed have its limits is important, in my view. Advertising spend outside our realm is indeed seemingly limitless. I think it's important to talk about limits, though. If all you can spend on relevant clicks in a year is $1,000,000 - even as a large company with a big budget - then that's all there is here. I think it's important to admit that. SEM is a large and growing field that does specific things for a large number of companies. It's approaching 50% of online ad spend, depending on how you measure. But it's finite, and the daily and weekly impact can indeed be quantified.
I do think we could do to dig in with a bit more research about the thus-far underquantified impact of search listings in driving offline revenues and choices, though. Especially when it comes to local and long tail research.
Posted by Andrew Goodman
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