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Once unsolicited emails and spam exhausted target audiences, marketers turned to search marketing. But as search marketing grew in popularity, elevated SEO sophistication and higher SEM bid prices increased competition and decreased efficacy.
Today, it’s all about personalized marketing...which, interestingly enough, is spawning a revival in direct mail advertising. In fact, we’re seeing record response rates for snail mail now exceeding the response rates and ROI of their corresponding digital marketing efforts!
Businesses must innovate to keep up with their markets, but the best leaders anticipate how and when is the right time to invest in new technologies, methods, and ideas.
Lesson: As leaders, we should be futurists and make decisions based on our informed predictions. Don’t shy away from taking risks, trying new approaches, or innovating on old methods to increase returns – but know that the key to success is walking the tightrope between lagging behind and over-investing in something before its time.
Everything that goes around comes around in business, but with new twists in each iteration. The progression of a cycle can either knock you off balance or present a unique opportunity – but ultimately, emerging leaders can stack the odds in their favor by understanding how cycles work and preparing for the future.
You can find Steve Pao on LinkedIn, or at TAO Executive in Residence supported events throughout the year.
Find more at the Technology Association of Oregon.