Emerging from the shadow -- Vol. 1
Unless you were one of the seemingly thousands of manufacturers of hand sanitizer or maybe the provider of video conferencing technology that rhymes with Boom, your performance marketing business probably underperformed plan throughout the summer. But now as things begin to approach a new status quo, it will be critical to convert your hard-earned prospects with efficiency, impacting topline and margin at the same time.
Performance marketing entering 2020 had been driven by complex, data-informed algorithms leveraging search engine analytics to model purchase likelihood driving one size fits all solutions. What it was not, was distinct, efficient campaigns targeting well defined segments of prospects.
Highly targeted, sophisticated, data-driven conversion marketing is one of the most effective – and under-utilized – pathways for boosting productivity and yield.
Performance marketing begins with demand and lead generation and ends with sales conversion. The process begins in one group, marketing, and gets handed off somewhere down stream to either a contact center, a sales team, or a franchisee/retailer. Unfortunately, this critically timed organizational hand-off results in conversion inefficiency. Each side feeling like their job is done and done well but leaving clear performance gaps because of generic KPI’s averaging across the process. No matter where the responsibility lies, the truth of the matter is that more can and should be done to improve conversion and drive down customer acquisition costs. By avoiding averages and applying a regimen of treatment differentiation, we have been able to drive performance and positive ROI for our clients.
Data Tech Concepts’ integrated, dynamic, decision support tools have improved conversion rates by as much as +350%. By observing and applying machine learning to the cumulative impact across touch points, not only does the solution become increasingly smarter, but the prioritization assigned to individual leads can be continuously updated as the relationship matures. As a result, clients have the insight to redirect marketing investment and content in real time, capturing substantial value from leads that might otherwise have been considered worthless, or saving investment planned for sure conversions. And no less important, the solution is fully compatible with commercial off the shelf CRM solutions and IT infrastructures.
We would look forward to sharing more about our integrated, dynamic approach, the impact it could have on your direct to consumer performance and why now is the right time to make it a reality…
By Jack Bowen & Bill Keller
© 2021 | DataTech Concepts, Inc