How funnelling can aid your marketing effectiveness
The marketing funnel is fundamental theory detailing how customers move from being aware of your brand all the way down to conversion and sale. In this article we will discuss how stripping down your marketing to the basics can enrich your marketing effectiveness and set you up to get the most out of your analytics.
A recent article written by Mark Ritson details three funnels – Sequential, Simultaneous, and Singularity. It also encompasses a broad range of how long and short marketing should interact.
As the name suggests, this follows more of a sequential nature. The hypothesis dictates that people are at different stages of the funnel. Optimising media laydown would involve a long-term message (involving emotion and references to brand value), followed by a short campaign aiming at conversion. Incorporating this in to your planning needn’t be difficult! With optimisations fulling a custom calendar laydown available on our bespoke portal you can easily see, and plan, the sequence of long and short campaigns.
Simultaneous doesn’t assume that customers are at different stages of the funnel. It assumes that everybody is at different places on the funnel, so running long and short campaigns simultaneously will give you a perfect combination of each as well as improving the likelihood of conversion.
Why run two separate campaigns when you could combine the long and short message into one campaign? This is how Singularity works. Combining the message works to fuel both sides of the customer’s brain (brand imaging with a call to action in the same ad). Research from Ken Roberts – ‘The Funnel Alibi’ suggests that customers are rarely able to both remember an advert and link it to a brand, providing the perfect place for a singularity-based approach.
Implementing these ideas and what insight you can gleam from your data will be dependant on your analytics provider. Our latest dashboarding techniques have the capability and capacity to conduct this in near real-time. When data, analytics and visualisation interact seamlessly, effectiveness increases.
‘Funnel juggling’ is the answer to marketing effectiveness’ – Mark Ritson
Brightblue Consulting are a London based consultancy which help businesses drive incremental profit from their data. We provide predictive analytics that enable clients to make informed decisions based on data and industry knowledge. Through Market Mix Modelling, a strand of Econometrics, Brightblue has a proven track record showing a 30% improvement in marketing Return on Investment for clients’ spend. If you are interested to find out more please contact us through email by clicking here and one of our consultants will get back to you shortly.