In this YouTube video The Backwards Bike, they refer to the old saying “It’s as simple as riding a bike”. In the video, they made one slight modification to the mechanics of the bicycle and it took months of training for the brain to map over the way that we leaned how to ride a bike as a kid.
In the same way, many companies are using backwards thinking regarding their integrated marketing plan. In recent decades, we’ve been trained that each of the elements in an integrated plan should work in harmony to accomplish a certain goal. The most common of which was the “Top of Mind Awareness”, or the first brand that comes to mind when a customer is asked an unprompted question about a category.
Like riding a bicycle with handlebars that have been re-geared, marketers need to relearn what they should expect from an integrated marketing plan. Top of mind awareness is important, but falls short of the real objective: Conversion. Today, each media plays a very unique role in driving the customer toward a conversion to a sale.
The AdScience® platform proves it. This powerful technology provides the ability to aggregate customer data from various sources and append demographic, brand affinity, and customer intent data to garner new insights into a client’s customer base, ultimately mining for new customers more effectively.
Once integrated campaigns are developed based on these real-time insights, this platform measures the interrelationships between each media channel (both online and offline) and its overall impact on the cost per lead and conversion to a customer.
The more integrated the marketing plan, the higher the conversion (close rate). A recent example for one of our clients quantifies the effects of an integrated marketing program on close rate. The markets that used an integrated marketing program where each medium played a unique role in creating customer conversion (using direct mail, SEM, out-of-home, broadcast and other traditional and non-traditional media) produced a close rate almost three times that of markets using direct mail alone. This is perhaps one of the most important measures of brand equity. What is even more impressive, is that the cost per contract varied only slightly even though more money was spent on the integrated program.
This may seem “as simple as riding a bike” but many marketers are not thinking about the unique role each medium could be playing in the marketing mix to improve conversion. The Advertising Science™ platform makes this process easy by quantifying the Interrelationships between each media channel (both online and offline) and its overall impact on the cost per lead and conversion to a customer. When marketers have a system in place to measure the true effect of their integrated marketing program, those programs are optimized to generate the most efficient sales possible. Rethink your integrated marketing program.