Should marketing’s goal be to acquire more customers or have more engaged customers?
Both – however I think having an engaged customer base brings much more value to businesses. People want to feel an emotional connection with the brands they buy from. If they feel a sense of community with your brand, they’ll be more likely to buy again, make referrals and advocate your products/services.
How do your sales and marketing teams prioritize leads?
We identify what the ideal customer looks like collaboratively before our marketing activity and qualify them. This can be done using a simple contact form with qualifying questions, or during the contact with the sales teams where they would ask specific questions. Once the qualification is done, you’d assess the customer need, budget and timelines to identify the most valuable leads and focus efforts.
Do you think it’s possible to have a direct correlation between marketing and revenue?
The notion that marketing is a cost centre is archaic. It’s evolved. Strategic marketing campaigns can have a huge impact on revenue. You can use marketing to improve brand awareness in your market, educate your audience and address specific pain points through content. You can then move into a more direct approach, targeting specific audience segments, across a number of channels, to generate sales. Marketing is a key driver of revenue and it will continue to gain more importance.
If you had to choose between social media and email, what would it be?
Social media. We’ve seen the enormous rise of social media and the impact it has had on people and businesses. It allows you to connect with existing and new audiences at scale. Paid social advertising allow you to hyper target audiences on Facebook for example, this allows you to test and learn at minimal cost. Combine that with huge organic reach on content deficient platforms like LinkedIn and TikTok (over 1 billion users daily) and the opportunity for growth is amazing. Having a strong social media strategy enhances your brand awareness, allows you to create an emotional connection with your audience and drives revenue. Email is powerful because you own your customer data and can create more personal one-to-one conversations with your audience, however if I could only choose one it would be social media.
How do you measure the success of your marketing activities?
A number of ways, it depends on the type of campaign and business model. You want your customer to do the action that you set for them. If they are completely new to your business, you may be raising awareness of the problem and educating them on your proposition. For customers who have more interest, you may want them to do something like book a meeting, download something or buy a product. For an awareness paid social campaign you’d be tracking metrics like views, impressions, view-through-rate, clicks etc. For a direct response paid social campaign you’d be looking at metrics like click-through-rate , leads captured and sales. Return on investment (ROI) is a clear indicator of direct campaigns. You can get deeper into the metrics by using cost-per-click (CPC) or cost-per-acquisition (CPA) if you’re in ecommerce. There are other success measures depending on the campaign such as email open rates and event sign ups.