When you evaluate the performance of your marketing campaigns, are you reviewing each aspect? It can be tempting to look at only your ROI, but if you stop there, you won’t know what’s really working. Successful campaigns target the right people at the right time with a strong offer. As you evaluate everything from your marketing list to channel mix, don’t forget to ask if you are creating compelling offers.
Evaluating Your Offers
What do your customers value?
In order to create compelling offers, you need to know who your current customers are. Where do they come from? What are they interested in? What was their first purchase? Data analyses can provide an in-depth look at your customers, so you know how to create offers that will interest prospects who look just life them.
What can you offer customers?
Identify your goal and what you are hoping to accomplish with your campaign. Next, see what you are able to offer those on your marketing list. Based on what you have learned about your current customers, which option is the most compelling? Don’t forget to establish if the offer is only valid for new customers, returning customers, or both.
Which offer do people respond to more?
When possible, test different offers to see which one people respond to more. A data analysis can also study the people who responded to each offer and see if there are any key differences to the campaign responders and different test groups. This will give you the information you need for more precision targeting.
Compelling Your Audience
Why should your audience buy from you now? You’ve targeted the right person through the right channels, and you’ve presented a great offer. Are you giving them a good reason to act? If you are not compelling your audience to respond quickly, they will stall, get distracted, or even forget.
Create offers that are available for a limited time and stick to that time frame. You can also try adding in additional complimentary products or services or giving a special deal to the first 500 people who respond. These stipulations will create a sense of urgency. Your audience will be more motivated to evaluate your offer and act.
Evaluating the Process
You can target your top prospects and have a wonderful offer, but if your transaction process is painful, you will lose business. Not only will your clients abandon their carts, but they may also warn people to avoid you. As you evaluate the buyer’s journey, try asking these questions:
- Is the offer easily accessible or do people have to work hard to redeem it?
- How easy or difficult is the transaction process?
- Are the requirements for the offer easy to understand?
- Do you have clear next steps throughout the experience?
- How good is your customer service?
- Do you answer potential customers’ questions?
A great way to do this is to walk through the entire process from beginning to end and step into the shoes of a brand-new customer. Or have a team member who is not familiar with the campaign and offer go through the process and give you feedback. Does everything make sense? Was the process enjoyable? Were any parts frustrating or confusing? Were they ever surprised or delighted during their experience?
Next Steps
Marketing campaigns are complex and built with many different components. As you evaluate each campaign’s performance, don’t just evaluate the total response, but take time to dig a little deeper and look at each factor – audience, channels, message, design, process. As data analytic specialists, we can help you target your best prospects, analyze your campaign results, and even recommend the next most likely product your customers will buy. Have questions about creating compelling offers? Let’s connect.