complexity and abundance of options and data to optimize the marketing
performance most marketers rely on averages such as open rate, click-through
rate and revenue, when making decisions.
In fact research shows that 58% of marketers rely on gut feel half of the time.
However marketing based on averages creates average results.
Marketing is a bit like sport, some people do it to stay fit and make sure they live long and healthy lives and others do it to win big.
The ones that do it to win big analyze everything, Calorie intake, sleep patterns, distance run etc.
You don’t win Olympic gold medals without analyzing everything you do, and it's the same doing marketing.
When you purely are focusing on revenue and opens and clicks rate, then you need to stop and think, what is the real value of e-mail marketing and the e-mail in general, adding to the customer journey?
When it comes to converting customers in most of the cases the Brand will get much more value of their e-mail marketing by nurturing their existing customers based on segments instead of focusing on Standard KPIs such as revenue.
This can only happen when the entire
marketing team has access to a single set of KPIs and dashboards that
everyone agrees to, rather than each individually team using different
dashboards for tracking their own performance.
If the first party, based customer relationships and nurturing your existing customers is a priority for you as a brand, then you need insights on your existing customers. "Work smarter, Not harder"
How do you manage your marketing, and what do you want to improve in the next 6-12 months?
The typically five improvement opportunities are these:
The success is heavily dependent on having the right strategy in place and making sure that you are not trying to optimize
too many things at the same time. There are avariety of insights that any marketing organization should have at their disposal
and each of the insights should form a part of the marketing performance optimization strategy.
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