Ever feel like determining marketing objectives somehow always become a brand vs. direct marketing competition? Who would you place your bet on? Can awareness and engagement objectives live in the same playing field as monetary conversions?
The unfunnel methodology provides a new approach to solving this historical battle. We are challenging this traditional grouping of dispirit and siloed goals – N.F.L (Not For Losers) Conversion Bowl 2014 .
My bet is on both – working together to make sure ROI meets a mid-field blended ROI.
The “bottom of the funnel” direct response tactics and messaging may bring in the final click, but you can’t ignore the other players. Things like banner ads, social shares and organic search are growing – and their growth as big impact players on the bottom-line numbers come from their relevance to the user and the marketer’s ability to capitalize on this using blogs or lead generation landing pages.
This the N.F.L. Conversion Bowl infographic shows industry standard conversion rates by marketing goal (awareness, engagement & monetization). As you can see, a more balanced approach is necessary since some channels like display banners and media will get you high click through rates (CTRs) but paid search ads and loyalty programs will get you the higher monetary conversion rates and give you the business case for more marketing dollars.
These first-touch channels and tactics might not come in a tidy uniform all dressed up ready to play with the big dogs and get that 12:1 ROI, but is that even the case? Most of them cost little-to-no budget to implement, and they each provide a significant lift in revenue when implemented correctly.
At the end of the game, that’s what counts. Converting enough revenue to be able to fund the awareness and engagement content that only scales more when integrated with your more traditional, old-school advertising or marketing tactics.
- The bread and butter
- The meat and potatoes
And in this analogy…
- The front line
…making sure that the customer has the least path of resistance to making the final conversion. If you don’t understand what I’m saying, here is the high-level strategy.
Each team practices broken into different specialized units – optimizing for maximum effectiveness, refining operations, streamlining effectiveness, etc. But then once you hit the field – the winner of any game is almost always the team who can pull together all the players and work toward one final goal (no pun intended) – to win.
It’s the mental game that overcomes the brawn. We see it time and time again. The underdog’s will to win – outplaying, outperforming raw talent.
Plan the work, work the plan. Execute flawlessly and score – it doesn’t always work that way. You see, there is an emotional element – let’s call it the “e”-factor.
Marketing and Sports draw significant parallels and I am not just talking about the X’s and O’s. Within each business unit, you have to navigate through egos and personalities and emotions. Unless some people are willing to back down on their ego and “take one for the team,” you won’t get far.
Everyone has a role – from the Director to the individual contributor and just one weak link can mean a losing season filled with product failures and defeat in your campaign. From a metrics and tactical implementation focus, this means that a formula of success exists.
Too strong on the awareness side = #FAIL = Too soft on the Call to Action (CTA)
You need to have a clear, integrated channel strategy that incorporates all of your KPIs – not just conversions and revenue. Why is that? Because each touchpoint, tactic, channel and message should exist solely for the purpose of maximizing the effectiveness of others.
So when you watch the SuperBowl this year, and watching those 1 million dollar ad spots… appreciate the work that went behind the scenes to give you that reaction.
Whether bad or good, the ones that were “sticky” and memorable creating buzz the next day at work – are the real winners. Be prepared, they will hit you up two weeks later with an “ASK” to buy their product – but who cares – they won. Everyone has vulnerabilities.
Look out for awareness, engagement AND monetization components – all working together to get the viewer engaged and then later associate their product with an memorable emotion. Don’t underestimate the value of subtlety and a strong, clear message – it doesn’t always have to be the “shocker” ad.
The campaigns that can effectively blend this mix, appeal to multiple demographics and audiences, and most importantly, get an action and walk away with some sort of 1:1 ROI – did their job. Don’t be a loser – take a chance and try this approach! Unfunnel has the free marketing tools to show you how.
So tell us which SuperBowl Commercial won the N.F.L. marketing conversion bowl this year in your mind. Who executed the MVP (Most Valuable Partnership)? We want to know.
P.S. Now all we have to do is solve how to pixel and cookie ourselves so we can track TV ad watchers to online conversion. :)
But that’s another omni-channel blog post in itself. Subscribe to free updates and make sure you don’t miss it in the near future.