Fear for many marketers appears when reporting campaign effectiveness and proving return on investment.
Recently an Australian Marketing Director told the board that for every dollar spent on marketing, they got $1.10 back. The questions that followed caused great concern for all. Could the Marketing Director provide data to support the claim?
Measuring campaign effectiveness is the biggest challenge facing B2B marketers globally. Over 20% identify it as their top concern, according to new research from LinkedIn.
The problems include multiple data points reporting is inconsistent—different reports – widely different reporting of results— a lack of one source of truth.
Marketing Week’s Language of Effectiveness survey found that almost half of 1,610 B2B and B2C marketers (48.4%) say ROI is the most important metric for their CEO, CFO and other board members.
Marketing has been in disarray for years.
Whilst (67%) of respondents plan to increase or maintain their brand spending over the next six months, 48% do not believe it will drive long-term sales. A further (58%) believe it will not keep their brand top of mind. They are making it challenging to discuss ROI.
How to improve campaign effectiveness
1) Brand strategy
The brand strategy falls from the business’s strategy. The following steps must be scrutinised and tested.
2) Unique value proposition – your strategic pitch. It is how you differentiate yourself from your competitors.
The most crucial step – over 60% of businesses globally fail at this point.
3) Purpose – mission -vision: Your ideal buyers are very interested in your purpose – it’s not about making a profit – it’s about telling a bigger story than just your products and services.
4) Core values: What does your business stand for?
Your brand values may be partly informed by what your ideal customers value. Consider Patagonia – it lives its brand’s values.
5) Strategic Narrative: Start with your ideal buyer as the hero in their quest to solve their most pressing problem – your solutions. Tell your narrative in the same format as the best-selling books and movies. On average, this lifts your business recognition 22x more.
6)Brand personality: Brand personality shapes how your company makes people feel. At a high level, a brand personality defines the direction of your messaging and all copywriting.
7) The ideal buyer:
Know your niche and ideal buyers, which increases performance and simplifies growth and messaging. There are generally three key considerations.
- Pain points: What is your buyer struggling with that provides an opportunity to challenge them? How aware are they of that struggle?
- Desired transformation: In their words, what does your customer want? What do they value?
- Failed attempts: What other solutions has your customer already tried? What solutions exist, and how do those solutions fail to serve your ideal customer?
It is time to ACCELERATE communities of PASSIONATE NEW BUYERS by fuelling and facilitating their insatiable hunger for authentic content and conversations – so your business captures enormous attention and engagement – influence and sell more.
Now the most valuable asset in the world today is attention.
The FASTEST growing businesses have one thing in common they get more attention on multiple social media platforms – every day.
- More attention first
- Next More engagement
- Influence and Sell More.
Our business reflects the human truth: we are a social and human-first digital agency built on strategic narrative and pitch across platforms.
We accelerate powerful buyer insights gained through micro-content that ultimately influences actual business results.
Your ideal buyer truth is our lifeblood – we are loyal to it, defend it and accelerate it.
There is no longer a single, generic message served to a mass audience – now drive buyer attention and revenue growth by speaking specifically and differently based on who they are, by listening and understanding more.
If you have read this far, thank you for your attention.
There are over 160 free previous newsletters – like this one at accelerateyourbusiness.today – look for the tab – How to Influence and Sell More.
It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please, share it with a friend who might also benefit from it.
Thanks for reading,
David
