Opening Doors Blog

What kind of return do you expect from your marketing campaign?

Thursday, May 04, 2017
Return on investment (ROI) has been the gold standard measurement of a marketing campaign’s success. But these days, when sales conversions take more time, a return on objective (ROO) may be a more realistic standard – at least to start.


It’s true – marketing is all about results. And at the end of the day, the goal of marketing is to drive sales. However, instant sales could be a thing of the past. In fact, many businesses – especially software as a service (SaaS) based businesses – have created “freemium” versions to let prospects test-drive the product prior to purchasing. In hopes they can’t live without, the theory is that prospects will eventually convert to paid users. A trend that suggests ROO is becoming equally important as ROI.


ROO enables teams to prove campaign impact when it’s not possible or feasible to tie them directly to sales. Common marketing objectives include increasing factors like awareness, brand favorability and purchase intent. By starting with these objectives in mind, campaigns can be better designed to measure these factors. 


Be sure your marketing strategy includes multiple marketing channels with specific objectives. By looking at things from a (ROO) perspective, you’re forced to take a closer look at the effectiveness of all your marketing methods and how well your tactics work with one another. In just a short time, and with the proper analytic tools to differentiate the efforts and measure the program, you’ll know what’s working – even if sales don’t spike instantly.


The point is, you have to look at your marketing programs holistically. Does your marketing program have follow-up by a sales rep? Do you add your new leads to an email campaign and/or newsletter list? Does your marketing plan have accountability for all leads? Recent studies show that it typically takes anywhere from 12-25 marketing “touches” to get that customer to pay attention to your brand. It used to take only 3-5 marketing “touches” before you could close a deal. 


Regardless of whether you take an ROI or ROO approach, integration of all channels is crucial. The Internet has changed the way people consume information and mobile technology has disrupted that. Buying behaviors continue to change and the market is growing more complex as new channels and technologies emerge.


A lead is a lead is a lead. And a customer, whether paying or not, is now in your lifecycle. Treat them as if they matter and they will likely respond as so – eventually adding to your revenue.


Let me know your thoughts.


No matter what your business is or who your customers are, The Contrino Group team can help you in all facets of communication. From acquisition and retention strategies, to segmentation, formats and touch strategies – we’ve done it all and have some great success stories to share. 


BIO 

Joe Contrino is CEO of The Contrino Group, a direct marketing agency located in Lafayette, CO.

Joe is an award winning direct marketer with over 32 of years of experience.   Prior to founding The Contrino Group, Joe was a Senior Partner at Suite 700 Direct, Integrated Marketing Solutions Manager at Henry Wurst, Inc., and CEO and owner of Contrino Direct Marketing, Boulder, CO.

Joe is a Direct Marketing Association Certified Direct Marketer Professional, Industry Co-Chair of the Denver Postal Customer Council Board of Directors, and speaks regionally and nationally on direct marketing topics and trends.



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