Advertising campaigns are a powerful tool in your brand marketing arsenal to reach potential customers as well as clients. However, to acquire customers, brands keep rolling out an infinite number of campaigns without a precise target audience. Such unmeasured approaches lead to increased cost per acquisition (CPA), at a later stage.
On the contrary, CPA is not the only king in this territory. Lifetime value (LTV) has greater power. When advertising campaigns are rolled out for existing customers to provide LTV, it eventually unlocks the door to acquiring new customers. Investing in marketing campaign management for existing customers is wanting. Brands often overlook the LTV phenomenon to avoid spending more on the acquisition.
Brands have just one goal in the mind to sell their products or services. In achieving this goal, they often overdo visual and verbal communication in their advertising campaigns. Here arises the need to focus on intangible solutions such as establishing emotional connection and respecting a customer’s immediate need or want.
Even today, the majority of businesses neglect the need and value of transparency. Advertising campaigns are rolled out without taking in consumer insights. There is a dire need to involve real people in the campaigns to bring transparency.
Misunderstanding consumers’ silence or the absence of negative feedback aDoes your marketing campaign really require a celebrity endorsement? Most of the brands do not have a concrete, evidence-based answer to this question. There is a lack of understanding of how much and what type of resources are needed for a particular ad. Businesses need to rethink their advertising processes.s a sign of satisfaction can be detrimental. A recent PWC report finds that 1 in 3 customers leave a brand they love after only one bad experience.
Plagiarism easily takes place in a competitive marketplace where campaign rollout numbers rise exponentially day and night. Very few brands are able to come up with a unique solution and creative advertising strategy to convey authentic brand messaging.
Improper planning leads to spending money on unnecessary advertising campaigns or running paid ones on the wrong platforms. Companies require systematic advertising processes to move forward effectively.
Many businesses fail in measuring campaign performance effectively. This happens due to a lack of understanding of the measurement standards of each social media channel. Each platform has a varied set of KPIs that need to be analyzed and interpreted to gain deep insights for increasing brand engagement and ensuring tangible returns on investments.
Post pandemic, 63% of users have been purchasing groceries online by phone. Even after social distancing measures are removed, 86% of users are likely to continue shopping online by phone. Businesses are yet to understand this scenario and optimize their space for mobile users. Awareness is required for rapidly changing viewing habits relating to advertising campaigns performance.
Owing to budget limits as well as knowledge limits, brands play safe and avoid trying new advertising techniques which are cost-effective and result-oriented. The same mindset doesn’t allow them to connect with the best advertising agencies that can help in reaping surprising results.
The purchase funnel is a common top-down approach used by thousands of businesses across the globe to describe their buyer’s journey. However, today, this approach is no longer helpful. It only determines sales in the short term and focuses on acquiring customers instead of retaining them.
Instead, understand your customer’s journey using the loyalty ladder or the Brand Commitment Scale (BCS) as introduced by the marketing legend Marty Neumeier. This ladder measures how a business can move from satisfying to empowering customers. Once your customers are empowered, they become completely loyal to you for a lifetime.
Take your brand on the path of multiply and conquer with the loyalty ladder instead of divide and conquer with the purchase funnel. Moving through the bottom-up approach is today the most viable option to up your game of retaining customers.
You can’t achieve your goals unless you identify where you want to end up.
At the very beginning of planning advertising campaigns, you need to find out what you want to accomplish. Do you want leads or more sales? Do you wish to increase customer satisfaction or increase brand engagement? It is important to narrow in and focus on your top priority to make a campaign successful.
Set macro and micro milestones so that you can identify success as you achieve it.
For example, the first million sale you make through an advertising campaign can be a milestone. This helps in identifying whether you are on the right track or you need a diversion for improvement.
There are hundreds of channels where you can run your advertising campaigns.
However, you need to identify your goal and choose a channel strategically. For example, if you wish to sell your products, you may opt for a Facebook ad campaign or Google AdWords campaign. If your goal is search-based you may want to run a Google AdWords campaign. Identify the channels your target audience is consuming.
Set the complete schedule for your advertising campaigns, from the launch date to the end date.
Stay true to the defined time and begin in the same direction, at the same pace. Avoid rushing to produce mediocre verbal and visual communication. We follow content calendars that enable us to execute every stage from planning, design, development, and distribution with success.
Brands always need to be in control of their finances.
Hence, identify the amount of money you need to invest in individual marketing campaigns or multiple ones as a whole. This allows us to focus all our energy where it really needs to be. Identifying the amount of time and money you want to spend on a campaign significantly helps in B2B or B2C lead generation.
After determining the budget and identifying the correct marketing channels, you are ready to launch an ad campaign.
If your goal is set, the execution takes place effectively. You witness reach, impressions, clicks, consideration and eventually lead generation with your ads. Identify where the customers are on your sales ladder, engage and follow up on them.
Businesses need to keep track of where their finances are going.
Ensure the money spent for each marketing initiative is spent wisely. Identify the amount you want to spend and how much should result in the ROI. This results in optimization of your finances and the overall marketing campaign for B2B lead generation and B2C lead generation.
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