We sit together in a roller coaster and we are just cresting the tippy top tip of the Monster Marketing Mega Roller.
Hang on to your hats and your bits because the crazy, exciting, amazing cool stuff is just about to knock your socks off.
Now let’s go over the event horizon of our roller coaster and zip forward 2 years from now…
Test Case: The Bathroom Renovation Co
The Bathroom Renovation Co is a business turning over $3 million per annum and employing 15 staff which includes full time management / sales, office staff and tradies.
They have a showroom / office located in an industrial estate which predominantly gets visitors from referrals or their advertising rather than passing trade.
Their marketing activities generate approximately 80 percent of their new sales with 20 percent from referrals and return customers.
They invest $169,000 per annum in marketing as follows;-
- Web Marketing Paid – $48,000
- Web Marketing Organic – $36,000
- Radio – $25,000
- TV – $30,000
- Print – $20,000
- Direct – $10,000
They are able to login to an Oracle Digital dashboard that provides them with data that is updated regularly throughout the day.
The Oracle Digital system interfaces with their CRM system.
So let’s have a look at how they manage their marketing spend to get the best return from their investment.
Web Marketing Paid – Google Adwords, Bing, Social Media Advertising
70% of their paid web marketing spend is on Google Adwords with 20% on Bing and 10 percent on Social Media Advertising.
From within their Oracle Digital dashboard they are quickly able to see the following;-
- How many leads have been generated from each paid marketing channel
- How many leads from each marketing channel came via a form on the website and how many came from a phonecall to the business
- How each channel performs each month (allowing for planning for seasonal variations)
- How each channel performs each day of the week (allowing for budget planning – if Bing performs better historically on weekends then we will place a higher budget for weekends and restrict the budget on other days of the week)
- How each channel performs hourly (allowing for budget planning – if Adwords performs better historically between 7pm and 9pm on Tuesday through Friday then we will place a higher budget for this period and restrict budgets in times of the day / week that do not perform so well)
- The average age group of the people that are becoming leads from each channel (allowing for tailoring of landing pages specifically to a demographic e.g. if Bing leads predominantly come from users in the 50 to 70 age group then landing pages developed specifically for paid traffic from Bing search advertising can be tailored to communicate with this age group thereby improving the conversion rate on the page and gaining more leads)
- The geographical spread of leads (allowing for targeted landing pages specifically to the style – and price – of home in that sort of suburb PLUS telling the company where they should focus their direct and print marketing campaigns)
- Other interests that the demographic who is producing the most leads are interested in (allowing for more targeted promotions and cross selling with other companies e.g. the leads from Adwords are predominantly in their 30s and they also like consumer technology and kitchen renovations)
- and finally, through an interface with their CRM, how many of those leads that are coming from the web advertising are being closed (which channel they come from, which age group, which geographic location has what percentage close rate, how quickly does each one close, which promotions encourage a better / quicker close rate, do people that come into the showroom close at a higher rate than those that do not and what is that rate etc etc etc???)
This company above is a small business just like yours, however, they now have access to a data collection, collation, analysis and decision making platform that cannot fail to help them fine tune their sales and marketing activities to a level that currently can only be matched by much, much larger corporations.
Of course we have only touched on the capabilities for digital marketing above and the sceptical amongst you may be thinking that bringing all of our sample customer’s marketing into one system is more than a few steps away.
In our next article we will go into more detail on the financial and strategic value of integrating our sample company’s offline marketing into the Oracle Digital reporting and decision making system….
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