Hope Thanksgiving was great!
This is a post-thanksgiving secret sauce for digital marketers to detox from the digital-only or digital-first mantras that lets tactics get in the way of real brand strategy.
It was partly inspired by a recent post by Kundle&Co, titled “You’re only reaching 20% of your market”, which is ipsis verbis an actual key best-practice advise we experience and share with our WebSpectator clients — and we’re 100% digital!!!
In a nutshell, Kundle&Co state the problem well: “by only reacting to customer demand instead of stimulating and creating it, marketers enter a price-driven, zero-sum arena that inevitably becomes a race to the bottom.”
So, here are a three pieces of critical information from the referred post and our take on them.
“Digital channels are, in many ways, good for transactions but not always good for brand building. Bain & Co. recently released a study documenting why. The study showed that consumers’ recollection of an ad was 3 times stronger in traditional media, and that purchase intent increased by 80% with multiple exposures to different types of media — not digital alone!”
True on “old digital advertising” but not true today. WebSpectator is the leader of the digital attention economy with the only MRC accredited time-based metric that guarantees 100% brand exposure — and the respective and much expected brand lift! Yes, the days of wasteful impressions and irrelevant clicks are long gone…
“Even though consumers might change their mind in the consideration phases, brands that are part of the initial consideration set convert 3–4 times more often in digital and physical sales channels, as highlighted by McKinsey & Co.”
True, cross-channel consumers convert more and the upper funnel continuously needs fresh new customer or soon you’ll be lost in your own pool of “supposedly active customers”.
The online brands are investing heavily in simple awareness measures to become the default online choice of their category. By having a strong position in their potential passive market, they short-circuit the whole zero-sum game of price comparison sites, affiliate marketing and AdWords.
True, which is why awareness-will-always-drive-performance. Pareto’s law is still right — 80% of the effects may still come from 20% of the causes — but don’t neglect your passive audience, waiting to be made aware of your brand.
So our recipe for digital success only takes 4 steps:
- Tie offline to online campaigns. Sounds simple but many don’t do it. Audiences are omni-channel, so learn to take advantage of that!
- Use awareness to pre-boost your performance — even if it’s just conversion you’re going after!
3. Don’t underestimate 80% of your market — it’s unmet demand waiting to be stimulated.
4. Add WebSpectator’s secret sauce to the mix and bake for success!