Unilever’s rapid changes are mirrored by other customers, many of whom need to increase marketing ROI with fewer resources . You need to increase one of these three aspects: Effectiveness – getting more revenue from the same investment Efficiency – getting the same (or more) turnover from a smaller investment Optimization – a combination of the two through better resource allocation.
And do you know where to start?
With the data. With this framework in mind truemoney database and examples from our clients, here are three ways to use data to drive ROI in marketing. 1. Push digital (Effectiveness) At a time when we’re all spending more time than we’d like in front of a screen, digital channels are the best way to reach us. Many indicators, from time spent on mobile devices to time wasted, er, playing online games , show that much of our lives now happen online.
In addition to providing greater control
And from a business perspective, McKinsey says consumers “have made a five-year leap in digital adoption in the space of just eight weeks.” Marketers have also accelerated their digital transformation , expanding their investments in technology to effectively manage and use customer data. If you haven’t already, now is the time. over channels, data-driven investments include analytics to refine customer segmentation , message personalization, and targeting methods such as look-alike modeling .
Case in point
Despite an overall decline in corporate technology spending, Forrester predicts an increase in marketing technology investments.Orvis , an outdoor apparel retailer, saw multiple store closures due to the pandemic, resulting in tighter budgets and a need to improve engagement . So they used Einstein Content Selection to automatically choose when to send standard messages and when to send content from their “Giving Back” campaign, based on their company values.
AI to predict delivery times to align
They also leveraged Einstein Send Time the extra step was taken with the advent of the pandemic Optimization , which uses with when recipients are most likely to open the email. led to a 22% increase in click-through rate . 2. Send fewer messages (Efficiency and Effectiveness) Yes, that’s right: sometimes, in digital marketing, it’s better not to overdo it . We’ve all felt persecuted by a brand to the point that we stop interacting, gradually detaching ourselves until we completely distance ourselves (where’s the unsubscribe link?).
Using both approaches together
In a time of message saturation, ensuring global seo work your communications are clear, relevant, and not too frequent can cut costs (efficiency) and increase responses (effectiveness). In 2019, more than 40% of U.S. consumers said they felt “overwhelmed” or “annoyed” by the volume of marketing content they received daily, according to Gartner . This year, that reaction has only gotten worse. In fact, Gartner calls this message-stress syndrome “COVID fatigue.