Thought Leadership presented by Comcast Spotlight.
We can all agree that “big data” had a moment in 2015. You’d be hard-pressed to find a marketing magazine or conference that ignored the data mining trend, and more marketers than ever are starting to apply consumer data to inform their marketing campaigns. This shift has led to a substantial increase in pressure to identify a direct correlation between return on investment (ROI) and every marketing dollar that’s spent, holding your marketing efforts more accountable than ever. If you want your campaign to perform in this new media landscape, there are three keys to success:
Know your customer: To really know your customers, dive into all that information you’ve been storing. Who are they? What are their interests? Once you’ve got a clear picture of your current client base, apply that same profile to identify individuals with similar attributes and work to convert them as customers.
Measure your campaign effectively: Next, decide on your campaign metrics in order to set expectations and measure success. In this new accountable marketing world, gone are the days of broad demographics – and hyper-targeted marketing is here to stay. Your campaign needs to shift from a focus on typical measurements like “reach” and “frequency” to more tangible actions such as website visits, lead conversions and – of course – sales.
Choose mediums that make sense: Identify advertising mediums that are going to make an impact. There’s no need to guess – your media partners have access to great research resources that can help you figure out what mediums are directly influencing the decisions of your target consumer. Don’t hesitate to push for an informed media proposal from your vendors – in the end, your campaign success is in their best interest in this new world of ROI accountability. And some of the data insights might surprise you! For example, we wanted to find out what mediums influence the brand perception of young millennials – a group that’s constantly talked about and notoriously hard to reach. Using data from a third-party partner, we learned that TV is the most powerful medium influencing their perception of a brand, or introducing them to a brand they may try, followed by social, online display, video, and mobile:
Does that surprise you? In spite of all of the melodramatic proclamations that “TV is dead,” our research would argue that TV ads are still surprisingly persuasive. And as a marketing consultant, we’d suggest a targeted approach to make a medium like TV work for you. We can tell you what, when and how (on which screens) your target customer is consuming TV content. After all, TV is everywhere!
On the other hand, if you are more concerned with e-commerce metrics, you’ll want to learn about your consumer’s path to your website. Using a different research resource, we can take a look at which marketing methods are performing. Natural search engine results, not surprisingly, are the leader in this case. Simply optimizing your website for search engines is going to earn website traffic, especially if consumers are specific in their terms. Friends sharing and posting about an advertiser’s product or service on Facebook is also high on the list. Coming in third? Ads on television – notably above word of mouth and print. And why are so many companies still investing heavily in search when it is not driving results?
The point is, your media strategy will be much more effective when you have relevant research to back it up – and this also helps you defend your plan and expenditures should you need to. Take the time to decide on your campaign target and define your desired outcome, then lean on your advertising partners for consumer insights to inform your media plan. A smart strategy is a great starting point for an effective campaign.