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Tag Archives: data-driven marketing

Your Marketing 101 Guide by the Numbers…

20 Tuesday Aug 2019

Posted by Malcolm Auld in Advertising, B2B Marketing, Branding, Content Marketing, Digital marketing, Direct Marketing, Email marketing, Marketing, Marketing Automation, Media, Mobile marketing, Remarketing, Sales, Sales Promotion, Social Media, social selling, Telemarketing, Viral marketing

≈ 11 Comments

Tags

advertising, B2B Marketing, branding, catalogue marketing, contact strategy, content marketing, data-driven marketing, digital marketing, marketing, selling, social selling

Hello again. I’m currently writing a book on B2B marketing – adapted from my training courses. The B2B category has a lot of executives in marketing roles who have no prior marketing qualifications. They have sales, product or technical backgrounds. Some even call themselves social sellers.

So, I’ve put together a little “Marketing 101 Guide by the Numbers”. Keep these in mind when planning your marketing executions, as they’ll keep you focused.

The three goals of your marketing communications – and there are only three…

  • Acquire new customers
  • Get customers to spend more money with you more often
  • Get customers to keep spending with you for as long as possible.

If your marketing communications are not helping you achieve one or more of these goals, you’re probably wasting your money, regardless of the media channels or vanity metrics you use.

The two ways of marketing – and there are only two…

  • Mass marketing
  • Direct marketing

Mass Marketing – you communicate with as many consumers* as possible for the lowest media cost, to position your brand in the mind of the consumer, so they consider it when they are in the market to buy – online or offline. Generally used in broadcast, print, outdoor and some online channels.

Direct Marketing – any marketing communication delivered directly to individual consumers* or to which they respond directly to you. All responses are measured and there is always an exchange of either data or dollars – online or offline. Generally used in broadcast, mail, email, telephone, print, events, social, search, mobile and online channels.

*Consumers is generic for both prospects and customers

The two reasons people use the internet – and there are only two…

  • To save time
  • To waste time

That’s it. You need to design your website, landing page, email, social channels, apps etc to make it easy for your customers and prospects to either save time, or to waste time, depending upon their reason for visiting.

Saving or wasting time?

There’s no such thing as a customer journey – just two contact strategies…

People don’t go on customer journeys. This is a marketing buzzword designed to make the user sound sophisticated – it’s complete bollocks. There are only two contact strategies to use, and they’re linked to the most relevant touchpoints. After all, a prospect isn’t a customer until they buy something:

  • Prospect contact strategy – to generate new customers
  • Customer contact strategy – to keep profitable customers and generate referrals

Marketers determine the most appropriate touchpoints to reach prospects and customers, then communicate as necessary in the most effective channels for those touchpoints. These touchpoints can be mapped for easier visual interpretation.

For example, a prospect may identify themselves by responding to an advertisement by telephone, downloading a white paper from a website, or at a trade show. This is the beginning of the prospect contact strategy designed to get them to either request a presentation (if required), to trial the product/service, or to buy. This can involve lots of channels, some of which can be automated.

Once the prospect becomes a customer, they join the customer contact strategy. This involves communicating with personal messages designed to create a positive customer experience, encourage loyalty, obtain referrals and generate further sales.

The customer contact strategy can also be divided into two separate executions. One execution is linked to the date the product or service is bought and includes messaging around warranty, service, renewal, upgrade and the like.

The other execution is linked to time of year and includes messaging such as monthly newsletter, seasonal offers, event invitations and more.

Obviously, the customer contact strategy uses more personal media channels including; face-to-face meetings, mail, telephone, email and social channels. And all the while, there is the 24/7 continual flow of marketing content on blogs, websites and social channels, as well as advertising.

People DON’T go on customer journeys…

The numbers that matter when budgeting…

There are a few key numbers to understand when budgeting your marketing activity:

  • Lifetime value – how much revenue you customer is worth over their lifetime of buying from you
  • Cost per lead – how much you can afford to spend to generate a qualified lead
  • Cost per sale – how much you can afford to spend to generate a sale
  • The advertising allowable – what you can afford to spend to generate a sale at either break-even or a pre-determined profit percentage

When you know how much a customer is worth, you can determine how much to spend to generate a qualified lead and therefore how much you can afford to spend to get a sale – based on conversion rates. This helps you determine the most appropriate media channels to use, as they are defined by your advertising allowable.

Remember:

Marketing creates the need, while sales fulfils the need…

Your marketing activity helps to create the need for your brand by building desire for it and reinforcing your decision after you’ve bought. Your sales people use selling techniques to fulfil the need and complete the sale.

Your direct marketing activity can both create and fulfil your prospect’s needs in a single execution. It also integrates your marketing and sales teams to ensure they both work together successfully.

So now you know, what you need to know, about you know, that thing that everyone thinks they know – marketing…

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Here’s how personalised magazines always over-engage readers for an outstanding CX…

13 Thursday Sep 2018

Posted by Malcolm Auld in Advertising, B2B Marketing, BIG DATA, Branding, Digital marketing, Direct Marketing, Marketing, Media, QR Codes, small data, social selling

≈ 3 Comments

Tags

BIG data, branding, customer engagement, data-driven marketing, digital marketing, media, small data

Please accept my apology for the jargon overload in the headline. Back in pre-history, around 2004, I helped a number of competing print companies launch their Variable Data Digital Printers via a series of seminars, trade shows and other marketing activity.

This disruptive technology delivered what many now call data-driven marketing. It was simply the use of relevant data to digitally print personalised publications and link readers to personalised landing pages. An undigi-believable omni-channel breakthrough. But let’s just pretend data-driven marketing is only five year’s old like most digital marketers believe it to be, so as not to confuse them.

One of the most successful promotions and product demonstrations we did, was to personalise the cover of a number of Marketing magazines for individual subscribers. We also personalised the accompanying advertisement to the subscriber inside the respective issues, as well as the landing page.

At the time, the Editor of Marketing magazine said the covers were the most talked about in the history of the publication. They had never had such a positive response. He said subscribers were ringing and writing to congratulate them. It was massive engagement to use today’s jargon.

Leap forward to 2018 and a few months ago I was asked by Kellie Northwood, the Publisher of VoPP magazine, to be the Guest Editor. I readily accepted and suggested the magazine be customised for those on the database. Kellie agreed.

Well VoPP has just hit the streets, and this customised version demonstrates the power of print when it comes to engaging susbcribers via personalisation.

Here’s the outer envelope:

Here’s the personalised magazine cover:

There is a customised message on the cover for each of the key subscriber groups, as well as a custom background colour. If you scan the QR Code it takes you to a PURL where you can complete a survey. There is a segmented group title printed below the code – mine is Agency/Retailer on this edition. And to add some polish there’s a spot fluoro ink printed on the QR code too. The story of how it was produced is in the magazine.

Here are examples from 2004/5:

Fuji Xerox – personalised message on the screen:

Personalised ad on back cover:

Personalised ad inside the front cover:

PURL – Personalised URL:

Direct Smile font printed via HP Indigo:

Personalised advertisement on back cover:

.Another issue:

Penfold Buscombe printed these versions with personal message written on the street sign and the image of the relevant capital city in the rear view mirror:

Customised versions by State printed using postcode data:

VoPP stands for Value of Paper and Print. If you’d like to get a FREE copy of VoPP Mag, visit the website to subscribe: http://valueofpaperandprint.com.au/subscribe/

I’m off to read this issue, there’s an interesting guest editor…

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