In today’s competitive marketing environment, firms place various strategic bets on different channels (hence the term “omnichannel”), rather than spending the entire budget on a single campaign and hoping for the best. In the age of data, traditional channels such as radio and print advertising typically have little impact and produce small or hard-to-measure ROI. Marketing departments are being forced to become wiser with their dollars, which has led to the current trend of running smaller, more focused, micro-campaigns.
Micro-campaigns have become commonplace in modern firms’ marketing playbooks. Companies now run many, small, hyper-targeted promotions, simultaneously to better reach key demographics that are valuable to their business. This omnichannel effort helps concentrate dollars across channels that are performing well, allowing brands to increase the effectiveness of their spend.
A prime example of an effective micro-campaign was a promotion run by Shoes of Prey, an online women’s footwear startup. They partnered with a 16-year old YouTube personality for a giveaway, and this resulted in hundreds of more clicks and views, and a permanent sales lift of 300%. This goes to show that zeroing in on the right market and running a small but focused campaign can end up paying dividends for a brand.
While many firms have embraced this paradigm shift, they are not utilizing data to drive micro-campaigns to their full potential. Many modern companies are still living in the past; while they do employ micro-campaigns and find some success, it is like a game of chance. Marketers are using antiquated technology and cannot objectively measure the success of their work, leading them to make guesses when it comes to figuring out what actually worked.
Marketing departments need to be able to measure how effective their micro-campaigns were, and manage them accordingly. If they can’t do this, then these innovative micro-campaigns can become as wasteful as their predecessors. Micro-campaigns, when executed properly, can help brands and marketers engage and connect with key customers to help generate sales and relationships.
With micro-campaigns starting to play such a large role in a company’s overall marketing strategy, firms must have a tool that empowers them to make smart decisions. Qoints offers such a tool, allowing organizations to both manage and measure their micro-campaigns in an effective manner. Qoints can show a firm how well each campaign performed, looking at a campaign’s key performance indicators such as cost or conversion rate. With these insights, companies can adjust their spending across channels, getting more for their money and running more successful promotions. This extra help can aid brands and agencies when they call the shots and allow for them to be more precise, instead of a utilizing the traditional one size fits all model.
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