What can marketers learn from Robert Downey Jr?
- Failure to admit there’s an obvious problem = bad things.
- Believing there’s a better way + deciding to change = great things.
From 1985-1990, the movies he stared in grossed an inflation-adjusted $529 million. But as his drug and alcohol problem persisted, movies he starred in grossed less and less.
In 2003 he hit rock bottom; finally admitting there was a better way…and decided to change.
Then his box office gross rose 11.5x
The same is true for modern day marketers. For those who admit there’s a better way (cross-channel attribution versus last click/single channel attribution), great things happen.
12 months after using C3 Metrics for attribution , ROI of media spend increases by a median of 15%.
“There’s a saying we have in attribution…you’ve got to go down to go up,” said Mark Hughes, CEO of advanced advertising attribution measurement firm C3 Metrics “once you see everything in a data cleansed, x-device joined, and cross-channel funnel, you can’t ignore unprofitable tactics which have to be removed. But then, you begin to rebuild and scale the profitable and healthy tactics.”
In the second year of using C3 Metrics attribution, marketers spend more. 30% more. In the third year of using C3 Metrics, marketing spend goes up 39%.
“We call this the Robert Downey effect,” said Jeff Greenfield, COO of advanced advertising attribution measurement firm C3 Metrics “after you admit you have a problem …last click, viewability, X-Device, rampant click fraud, single channel siloed measurement…and decide to change, things get much better.”
Just like Robert Downey’s career, the results of hard change are obvious.
But what’s obvious isn’t always apparent (before you decide to change).