Optimization. Is it a buzzword? I think it depends on who is saying it.
Optimization
definition: an act, process, or methodology of making
something (such as a design, system, or decision) as fully perfect, functional,
or effective as possible*.
That's the definition.
Rather than actually being relevant, companies often try to create products or manipulate the definitions of terms in an effort to instill an illusion of relevancy (ahem, CX and Forrester).
Here is how
one of the countless companies that claim specialize in marketing optimization
define it our word of the week: Marketing Optimization is the process of improving the marketing
efforts of an organization in an effort to maximize the desired business
outcomes. Marketing optimization is performed on each individual marketing
tactic employed, as well as optimizing the fit of those tactics into the
marketing strategy as a whole**.
Right off, the first sentence does not tell us anything. Apparently, they are applying a process of improving efforts, in an attempt to improve an effort that maximizes business outcomes. You get that? Every person working at a company is focused on maximizing business outcomes. The second sentence is also entertaining –
- Marketing optimization is performed on each individual marketing tactic employed…"
- They have yet to tell us what marketing optimization is but it is apparently applied to individual marketing tactics and not a greater strategy. That's ridiculous
- "…as well as optimizing the fit of those tactics into the marketing strategy as a whole." This isn't optimization. They are confusing efficiencies with optimization. If you intend to remove waste, you aren't optimizing anything
Marketing optimization isn't a thing. Period. Optimization, when appropriately applied discusses the processes and methodology of how marketing is executed and not how many Facebook ads you've purchased. Yes, you can argue that spending on advertising in only those periods when you see the best lift in engagement is a form of optimization but it isn't. It is still an exercise in driving efficiencies. The reason is, the same number of people are going to respond to your advertising as compared to conversion rate no matter how many extra emails you send.
Optimization is best attributed to the technologies you are using, as well as the processes and methods you are applying. And I'll write more on this topic, shortly.
Thanks for reading!
*https://www.merriam-webster.com/dictionary/optimization
**https://www.marketingoptimizer.com/marketing-optimization/#:~:text=Marketing%20Optimization%20is%20the%20process,marketing%20strategy%20as%20a%20whole.