Is Your marketing campaign a black-hole?
The method by which you inform people about your products directly affects on how people view your product, business, and future marketing efforts. Poorly considered marketing efforts can have haunting consequences for your business. A careful hand cannot be overemphasized.
Several years ago, Timothy’s Coffee launched a marketing campaign to promote it’s new coffee product. In an attempt to create more awareness about their coffee, they broadcasted an advertisement on various social media sites offering a coupon or free samples of their coffee. However, the company failed to account for the impact of their offer and the power of social media. Three days after launching the campaign, Timothy’s depleted their supply of free K-cup coffee packs. After attempting to clean-up the mistake by re-offering the product on a first come first serve basis, Timothy’s ended up resorting to posting apology videos and offers of free coupons in the mail. The backlash from social media was almost as colossal as it’s response to the initial campaign.
When it comes to running a marketing campaign, a businesses cannot be too careful. Poorly considered advertising campaigns can quickly ruin a business’s reputation and can be a haunting memory for years. Here, we will see how you can avoid the mistakes other businesses have made.
Have you ever visited a website that had links that didn’t work or products that weren’t available? Although vast numbers of businesses market their products and services online, too often their “up-keep” of these sources falls short. Email marketing is a useful method of educating your customers about your products or services. Offering coupons is another tactic useful for attracting customers. However, if the emails you send out carry information on products that will expire quickly, or if your coupons are no longer available, customers who follow these links only to be led to a dead-end web page will quickly get discouraged. Market teams should routinely walk through customer acquisition and engagement channels to see if there are any flaws in the process which could frustrate and discourage customers from visiting your website.
Emailing can be an effective and cost-efficient method of advertising. Statistics actually show that email marketing for mid-sized businesses has a 246 percent return on investments. However, caution and moderation should be considered when sending out these emails. If you send out your emails to mass numbers of customers without considering the various market segments and groups of people in your target audience, your email recipients could begin marking your emails as spam. If large numbers of your emails are marked as spam, your email provider could temporarily or permanently disable your email account. According to complainmonitor.com “The industry standard for an acceptable percentage of complaints per email campaign is less than 0.02%.” Thus, the importance of sending out emails that hold useful information to your target audience (and not over-selling your company) should be emphasized.
Coming up with an effective company promise or slogan is not difficult. However, consistently following through with this promise can be a challenge for some companies. Companies who offer promises and raise expectations of their customers only to disappoint will quickly develop a reputation for themselves.
OPERATING A CAMPAIGN BASED ON BAD DATA
Data that you gather about your customers holds high importance when you are designing your promotions. If this data is wrong, you may end up spending large amounts of company money with little results from consumers and a low ROI. According to Econsultancy, inaccurate data affects 88% of companies with an average company losing 12 percent of its revenue.
Data is usually gathered from control groups. Within these control groups, some data will show that certain promotions drive encourage positive consumer engagement and high returns on investments. Often companies will push to create promotions that appeal to these groups of consumers and will lose focus on other groups. However, some companies have found that although the data shows high engagement among certain groups of consumers, the audience’s willingness to convert and actually make purchases is very low. Thus, the idea of not putting all your eggs in one basket applies to the world of advertising campaigns.