6 Keys To Measuring Return On Investment In Marketing

marketing-return-on-investmentEvery entrepreneur knows that good demand generation marketing is the key to growth these days, but very few have the discipline or know-how to measure return in a world of a thousand tools and techniques. Even those things that worked yesterday may not work tomorrow, as the market matures, the culture changes, and competitors appear with new solutions.

Business success is all about meeting the needs of the modern buyer, who is more informed, has access to more choices, and is ever smarter about making purchasing decisions. In fact, we now live in a buyer-led digital age, where the traditional media push-marketing efforts just don’t work. Peter Drucker’s old comment that “culture eats strategy for breakfast” is more true now than ever.

In the classic book, “Driving Demand: Transforming B2B Marketing to Meet the Needs of the Modern Buyer,” top marketing consultant Carlos Hidalgo updates the old guidelines on how to set up demand generation processes, keep them current, and measure results. While his insights have come from large organizations, I give many of the same recommendations to every startup:

  1. Channel engagement performance. Selecting the right sales channels is one of the first strategic decisions that every startup faces. Understanding culture is paramount, but measuring results is even better. Hidalgo recommends a focus on engagement stage indicators including customers by channel, conversion ratio, and cost per revenue.

  1. Lead-stage content performance. The fuel for any good demand generation program is relevant, buyer-centric content. You need to track what content is resonating with your prospective customers, through metrics including submit rate by content offer, elasticity, velocity, cost, and ultimately revenue by content program.
  1. Nurturing stage email performance. The nurturing stage is the link between the engagement and conversion stages, and is most often the automated area of demand generation. That makes it easier to collect results indicators, including number of emails sent, open rate, click rate, and email bounce rates. Don’t just use these in isolation.
  1. Lead management performance. This area of demand analysis is also called the “sales funnel” or “sales pipeline,” used for tracking the overall process from initial prospect engagement to close. Metrics which must be tracked include number of leads, conversion rates by lead stage, velocity, growth rate, and total lead database size.
  1. Demand generation revenue performance. Revenue performance needs to be applied to each individual program, and also rolled up to show the overall performance per dollar invested. Individual measurements should include pipeline value by lead stage, closed revenue by program, pipeline growth, and overall win rate.
  1. Return on investment for demand generation. Obviously, you are looking for demand generation programs that have a positive return on investment (ROI). In addition, the best companies compare the negative and positive cash flows over a period of time to determine the net present value (NPV) of planned future marketing spending.

Instead of looking at demand generation as a pure cost center, smart entrepreneurs ask their marketing team to measure themselves as a line of business, and to report on their profit and loss just like other business groups in the organization. This approach has the additional advantage of potentially saving their budget from arbitrary cost cuts during downturns.

Overall, demand generation and other marketing efforts must move from being a “necessary overhead item” managed by a guru with a crystal ball to a vital business function, managed quantitatively, like the products you sell, and included in your continuous innovation mantra. Are you evaluating your marketing returns today with the same discipline as your product returns?

Marty Zwilling
Startup Professionals Musings

Content Marketing at low costs

Hi,

As everyone knows content marketing ist the way to go (usually).

As im not talented in writing texts or anything similar to this i thought about outsorcing this (like everything i do 😂)

Do you know similar sites like fiverr for example, where i can hire someine to give me some content based on my product?

Also i thought about a shirt content video 30-45 Seconds. My idea was to contsct the local media university and ask some students if they would like to do this…. any ither ideas?

Im as you maybe already know on low budget

Thank you for your help!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

#YouthMonth: Brands need to reverse-engineer the way they think about marketing – Bizcommunity.com

#YouthMonth: Brands need to reverse-engineer the way they think about marketing  Bizcommunity.com
“nigeria startups when:7d” – Google News

[BioCatch in Business Wire] BioCatch Appoints Mark Elliot Chief Marketing Officer

BioCatch, the global leader in behavioral biometrics, today announced that Mark Elliot has joined the senior leadership team as Chief Marketing Officer. In this role, Mark will lead all marketing efforts and grow the brand globally as BioCatch looks to broaden its product offerings and further support its expanding client base into new verticals following a $ 145 million Series C investment led by Bain Capital Tech Opportunities, the growth investing business of Bain Capital.

Read more here.

The post [BioCatch in Business Wire] BioCatch Appoints Mark Elliot Chief Marketing Officer appeared first on OurCrowd.

OurCrowd

Demandbase acquires Engagio to bring consolidation and ‘clarity’ to B2B marketing

Two business-to-business marketing companies are teaming up, with Demandbase acquiring Engagio.

Both companies focus on account-based marketing (ABM), an approach where marketing and sales coordinate their outreach to specific, high-value accounts. Engagio co-founder and CEO Jon Miller (who previously co-founded Marketo) told me, “Most people who aren’t super close to the category would have said we’re competitors.”

Instead, Miller said that Demandbase and Engagio have more than 30 shared customers. Similarly, Demandbase CEO Gabe Rogol described the companies as having “very much had a complementary partner strategy with each other.”

More specifically, Rogol said Demandbase’s strength is in helping marketers take advantage of third-party data, whereas Engagio was more focused on helping them utilize of their own first-party data.

The financial terms were not disclosed — Engagio had previously raised $ 32.5 million, according to Crunchbase, while Demandbase raised $ 158 million. As a result of the acquisition, Miller will become chief product officer at Demandbase, while his co-founder Brian Babcock becomes chief technology officer.

Demandbase

Image Credits: Demandbase

Rogol acknowledged that it’s going to be an “incredible challenge” bringing the two teams together during the pandemic, with everyone working from home and large gatherings in traditional offices currently off the table. However, he said unifying the companies and the technology will be “our strategic initiative for the second half of the year.”

Meanwhile, Miller argued that the pandemic hasn’t eliminated the need for what Demandbase and Engagio are offering. In fact, he suggested that where marketers may have previously seen the shift to ABM as something they could deal with later, their plans have accelerated: “It’s a now priority, because I [as a marketer] still have to create revenue.”

In fact, Rogol said that Demandbase “crushed” its advertising goals during its first quarter.

“We’re really confident that this will define what’s been a fragmented ABM market,” he said. “The market needs clarity here.”

Startups – TechCrunch

The Power of Your Marketing Message

We’re now calling post-COVID life “the new normal.” How long will this “new normal” last? What does the new normal mean for businesses, especially for startups? When attracting new customers or even when serving the ones you already have, there are several things that will remain true, no matter how the “new normal” evolves.

In order to re-open a business post-COVID, the key fundamental to keep in mind is mastering your marketing message. Your message is the backbone of marketing; it’s the bridge that connects you with your customers in order to find solutions to their issues or provide for their needs.

The goal of creating and offering a product or service is to provide for the needs of your customer. As the creator of your product or service, you know the product better than anyone else, including what is solves and how it works.

Sometimes, however, the communication and connection with the customer can get lost. Many entrepreneurs are so in love with their own product that they forget who needs to know about it and why. It’s kind of like going on a first date: you’re far more likely to get a second date if you keep the conversation focused on the other person rather than talking about yourself all night.

The same is true of your company’s marketing message: if you’re going on and on about how great your product is, it won’t matter to your target customer unless you show them exactly how it solves their unique problem or need.

So, how do you create the right marketing message?


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Connect with your customer

In order to connect with your customer, you first must fully connect with your own company mission or vision.

Ask yourself the following:

  • Why did I create this thing in the first place?
  • What am I trying to accomplish?
  • Who am I trying to help?

Knowing these answers may seem elementary, but in order to fully resonate and connect with your customer, you must connect the dots each and every day to why you’re doing what you’re doing and who you want to serve.

Once you’ve connected the dots with the mission and vision of your business, then you can connect the dots to your customers. Know their wants and needs, as well as their desires and frustrations.

Speak their language

The more you understand your customer, the easier it is to communicate with them.

Think about slogans of the brands that resonate well with you. Why do they? Other than being super catchy, I would imagine it’s because the slogan resonates with you on an emotional level, and the product probably solves a need you have.

In the book “Ogilvy on Advertising,” David Ogilvy states, “Tell your reader what your product will do for him or her,” and in the language people use in everyday conversation. Knowing what your customer needs, then translating that into everyday language, will enable you to connect with your customer.


Related: The Naming Book: A Lesson in Branding from Evol Foods

Know how to communicate depending on where the message is being displayed

Messaging is all about attracting people to your product, service or business. It’s about catching their attention, even if they were not specifically looking for you.

One way to ensure you’re doing this is to think about where your message is showing up and speaking directly to the customer at that particular moment. This means a lot of different things. Not only do you need to know your message and how to best communicate with your customer, but you also need to be able to tap into the customer’s state of mind.

For example, a few weeks ago, I was searching for a speciality item that only a few stores carry. Because I very much like to shop locally, I found a store 20 miles from where I live that carried this product.

Excited to drive there, I first checked the company’s Facebook page to see if they offered curbside pick-up. To my shock, the last post this business made on Facebook was nine weeks prior. Confused by the lack of communication, I was first concerned that perhaps they had permanently closed down. I didn’t believe this was true since the business had quite the reputation in the community and seemed to have been doing quite well, but COVID has impacted so many businesses, it was a possibility. I then checked their website: it looked the same as usual. I then called, but it went right to an answering machine. No message, no communication of the store’s status, no indication of how COVID was impacting the business.

I decided to risk the trip and drive there. When I walked up to the door to see if it was open, there was a tiny handwritten note on the door that dictated the same message as its last Facebook post nine weeks prior. Frustrated by the lack of communication, I had to find my specialty item elsewhere.

What could this store have done differently?

For starters, they could have updated their status online via their website and Facebook page, for starters. They could have offered suggestions for things to do at home using their products, or served my needs by anticipating my needs ahead of time. While of course no one can plan for natural disasters or pandemics, it’s important to always keep your customer’s perspective in mind in order to retain existing customers.


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Summary

Your marketing message doesn’t have to be complicated if you can just understand your customer. You should reflect on the dynamic of these relationships and how to best communicate with your customers.

The more you focus on the customer, fine tune your message and make crystal clear how you and your product will help them, the more your customers can relate to you and your brand.

Your messaging will surely evolve depending on the journey your customer takes. If someone has already purchased from you, your message will also adapt to the new relationship you have with a customer as it evolves over time. Do they still need your product, or can they refer someone else who does?

Messaging is the bridge between what you have and what the customer wants.

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StartupNation

I tested hundreds of marketing tools in the last three years and these 50 made it to the list. I’ll sum up my top 50 marketing tools with one or two sentences + give you pricings.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Whatsapp clone – For building successful marketing strategies

Have you ever thought why most businesses fail in spite of setting clear-cut goals and strategic plans? The reason for the failure is mainly due to the lack of a strong marketing strategy. This is because you may be offering the best services and products in your industry but you cannot shine in your business unless you educate your potential customers about your products.

Therefore, any product or service or whatever a business provides must be introduced and promoted efficiently among prospective customers. With such strong promotional activities, you can provide a golden opportunity for your business to be discovered by your customers. Also, it is essential to reinforce the bond with your customers. Only then, you can face the cutthroat competition and attain success

Product promotional activities of a business

So, each and every entrepreneur like you must realize that the heart of the business growth lies in marketing. But, how to do such effective marketing to beat the competition in your business sector?

Without any surprise, the messaging app like Whatsapp will be the perfect choice to meet the marketing needs of businesses. To say it simply, people nowadays widely use messenger apps. And so, there is no doubt that they will expect to find your business there.

So, if you still think that messaging apps are just for chatting with friends, then you are wrong. Apart from serving as a messaging solution, the Whatsapp clone app can act as an apt marketing solution for businesses.

As a striving entrepreneur, do you want to know about the crucial role of the messaging app in marketing activities? Then, continue to read the blog to know how a Whatsapp clone app can act as a powerful marketing solution; how to get the most out of Whatsapp clone in marketing

Whatsapp clone – as an integral part of a powerful marketing strategy

Let us now see how an instant messaging app can act as a comprehensive marketing solution for business promotional activities

Quality Two-way messaging

Customers of today prefer to have real-time conversations with the businesses to know about their products and services better. The instant messaging app can satisfy these user needs by acting as a reliable two-way messaging platform for the customers around the globe.

Customer communication with instant messaging app

So, businesses can directly chat and take orders from the users and can provide a personalized service to them. This will surely boost user engagement and will make them feel important and valued. Eventually, the customer bond will be intensified and customer buying pattern will be changed in favor of the business

Leverage enhanced functionalities

Businesses can update app status with relevant ads, quotes, and links of videos that were published on social media platforms. This can also serve as the best way to announce offers and flash sales to customers.

The right usage of status space with creative content will draw the attention of users and will boost curiosity among the customers. Also, owners can include multiple payment gateways in the messaging app in order to ease the payment process of the users. Similarly, advanced functionalities can be added to the messaging app to grab more eyeballs

Sending custom messages

People will tend to approach the service again and again where they felt more valued and wanted. So, businesses can kindle interest in the minds of customers by sending them personalized messages on festivals, on other occasions, etc through messaging app.

Whatsapp clone app for sending personalized content

Unlike an announcement to everyone, personal messages can amaze users to a greater extent.

Group targeting

You can engage your target customers by creating groups in the messaging app. It is also the best way to segment and target your potential customers. You can create a group for your business and add clients to it who are most likely to buy your service or product. You can then update users in that group regularly with useful and relevant content, media, and so on.

Thereby, you can reach the right customers easily and interact with them seamlessly. Another noticeable benefit of this feature is that when any participant shares the content with their family or friends, then there is an increased possibility for your message to go viral.

How to get most out of Whatsapp clone in marketing

Let us now see how businesses can get most out of the Whatsapp clone app for marketing tasks

Running campaigns

Business owners must understand that there are thousands of brands out there. And so, they must do something innovative in their marketing campaigns. So, entrepreneurs can create and run marketing campaigns through instant messaging apps.

Whatsapp clone app for running marketing campaigns

It is also essential to add a personal touch to the campaigns to give a pleasant experience for the customers. Users can also be kept engaged by carrying out contests and other similar activities through messaging apps

Personal customer service experience

Almost all users want a better way to get quick solutions for their requests. With instant messaging apps, businesses can provide quality customer support which each and every user will be looking for.

Quality customer support through messaging app

As the app supports rich media, any text, video, or audio can be used to reach out to the customers and solve their issues swiftly.

Create and run impressive ads

Is there any user who doesn’t want any excitement or fun? The answer is obviously no. So, as a proprietor, you can create attractive ads for any new product. You can also create teasers or sneak peek for any unannounced service or a product, etc.

You can then run those ads in your messaging app. This will impress users greatly and will make them expect more from you in the future. Thereby, you can easily popularize your product or service among your target customers

Collecting customer feedback

An instant messaging app like Whatsapp can provide a convenient way to do customer research and to collect feedback. So, instead of following a tedious process of calling customers individually for feedback, you can create a questionnaire and post it in the user group to get the required answers for your business. With this, market research can be done effectively for your business.

Instant messaging app for getting product feedback

Also, with the feedback collected, you can enhance the services and products you render. So, messaging apps provide a non-intrusive way to interact with your customers.

Building a modern and better messaging app

From the above sections, now you can understand how instant messaging app can serve as a marketing solution for businesses to promote their products and services in a better way. I hope now you will have an idea of developing a top-notch messaging app to streamline your business promotional activities

To build a robust Whatsapp clone app, you must carry out the below processes

  • Select the platform based on your business needs (Android, iOS, or both)
  • Decide on the features that need to be included
  • Choose the app development team that can satisfy all your quality, time and cost requirements

When we speak about the features of the messaging app, there are some significant and business-friendly inclusions. Listed below are some of the key features of the messaging app, so take a quick look at it

  • A dedicated business profile that allows you to add necessary data such as a physical address, email address, a short description of your business, etc. This will surely add a professional touch to your account
  • To secure the chat messages and other confidential data from unauthorized people, the messaging app must include modern cryptography technology
  • The app must support multimedia file transmission to launch or promote the products with rich media content
  • Save and send frequently used messages with Quick replies. As every business has some standard set of questions, those most asked queries can be quickly answered with this feature
  • The messaging app should allow for the inclusion of prominent payment gateways to impress users
  • With Labels, you can organize your chats or contacts and streamline the operations

Instant messaging app with advanced features

Like the above-mentioned functions, there are several other features that are needed to be considered when you want to build a messaging app. You can also refer the communication business blog in order to know more about the incredible features of the instant messaging app and different aspects of the messaging app development process

Final words

From the above sections, I hope you understand the vital role of instant messaging apps in the business marketing activities. So, it is a must for entrepreneurs like you to develop an impeccable messaging app that can serve as an ideal marketing solution to promote your products and services among your prospective and loyal customers.

Instead of developing the messaging app from scratch which involves a lot of time and money, it will be a good idea to make use of the readymade and adaptable online clone solution. Appkodes Hiddy, our ready-to-use and versatile Whatsapp clone solution will act as a perfect solution to build an amazing instant messaging app for your business.

Instant messaging app built with Appkodes Hiddy

Our chat app script can be customized to get a messaging app that can support the above-mentioned marketing activities. So, purchase a complete Whatsapp clone solution like Appkodes Hiddy and intensify the bond with your customers

Reach us Now..

Do you want to build an impeccable instant messaging app for your marketing activities?

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Paris-based Mediarithmics lands €8 million to take its data marketing platform to the UK

French startup Mediarithmics, a data marketing platform present in 16 European countries and the US, has snapped up €8 million. The funds from existing investors Jaïna Capital and Ventech, and new investors Alliance Entreprendre and Adelie Capital, will be used to take their technology to the UK market, and across more of Europe.

Founded in 2013, Mediarithmics is an end-to-end data marketing platform that allows brands to easily launch personalised, cross-channel marketing campaigns in real time using programmatic technologies. Fully compliant with the new European Data legislation, mediarithmics also enables publishers and e-commerce sites to protect, structure and leverage the value of their Data, helping them to create new profitable business models. 

With 60+ employees, the startup already has major clients like BlaBlaCar, Coca-Cola European partners, and Fnac Darty. They also provide services to Gravity, the largest Data Alliance in Europe, which consists of 16 French media and telco leaders, like Condé Nast and FNAC.

Stéphane Dugelay, Mediarithmics founder and CEO, commented: “mediarithmics was launched in 2013 to create an agile, scalable data marketing solution. The current environment, and particularly the scheduled end of third-party cookies, supports the mediarithmics vision: all market players have to rely on a flexible, open and scalable platform engineered to seamlessly adapt to technological evolutions”.

With offices already in Paris and London, the startup aims to use these fresh funds to boost its international expansion across Europe, with a special focus on the UK. In addition, the French team will be strengthened with around 20 new positions, which it hopes to fill by the end of 2020.

“Our successes in France are clearly exportable to other European and North American countries where the market dynamics are the same,” commented Grégoire Fremiot, Chief Revenue Officer of Mediarithmics. “At the same time, a strategy of partnerships with consulting companies and agencies should allow Mediarithmics to go more broadly to target B2C companies of varying size and maturity to expand its client portfolio.”

EU-Startups