Now that we’ve debunked the myths of targeting the right customers, delivering personalized offers, acting in context and creating valuable offers, there’s just one more to dispel…leveraging the results. More often than not, marketers initiate a campaign and then following its completion analyze the results, but the real value lies in between these two steps. In the world of mobile, you no longer have to ‘accept’ the end results – you can continually impact them along the way.
THE MYTH: Results and lessons learned drive future campaigns
Have you ever been fishing and used the same rod and reel, the same lure, and casted to the same spot only to catch a few inedible fish? At the end of the day when you’re counting your less than impressive catch, do you make mental notes of what you should try the next time?
Sounds like an ineffective way of upping your results but this same method continues to be utilized by marketers. Decide what to measure, launch the campaign, gather results, interpret results, and apply to the next campaign…sound familiar?
Although with traditional channels the waiting game was a necessary evil, with mobile marketing the waiting period from execution to results has essentially been eliminated. But marketers must make a shift in their techniques and technologies to be able to ‘act now’. Otherwise they might as well sit back and say, “we’ll get em’ next time”.
THE REALITY: Results and lessons learned optimize CURRENT campaigns
Most fishermen – even amateurs like me – have the smarts and impatience to alter their approach to drive better results. And this is beginning to ring true in the world of mobile marketing as well.
There’s a lot of data associated with mobile customers – usage, purchases, social graph, etc. – and those data points are continually changing. What marketers are realizing is that this slew of data can lead to a slew of insights on how their customers behave. And with that understanding and the right tools in place, you have the ability to impact results versus reading them.
Essentially, there are three key elements which will impact your results:
• The rod and reel: How you engage each customer
• The lure: What message or offer you deliver
• The casting location: The context of when you engage with each customer
The key is having a solution that’s agile and smart enough to (1) understand individual customer behaviors over time, (2) compare those behaviors to those associated with driving your KPIs, (3) identify the best combination of the three elements above for driving the desired change in behavior, (4) act intelligently, and (5) automatically optimize the campaign based on results.
WHY IT MATTERS: Time is money (and customers)
Let’s face it. Nearly every marketer faces pressure to improve their marketing performance, and in attempting to do so, they are always looking for the next best approach – including how they leverage results.
For most marketers a shift in leveraging results to optimize current campaigns (versus applying lessons learned to future campaigns) can have a significant impact on your marketing ROI. Marketing is all about changing behaviors so if you can determine that a rubber worm is more effective than a shrimp, why not make the switch now versus losing your opportunity at the catch?
By continually evaluating how best and when to engage with each customer and most importantly acting dynamically based on the right contexts, marketers are able to continually improve their performance results. Customers benefit from increased relevancy and value, and businesses realize increased revenues and loyalty.
So grab your reels, stock up on bait, and be ready to cast where the data guides you. Most importantly, get ready to brag about your results – that is, your actual results, and not just fish tales!