Ef­fec­tive mar­ket­ing com­mu­ni­ca­tions

The Peterborough Evening Telegraph - - Business - Mike Hol­land of OlsenMetrix Mar­ket­ing

Here’s a quick tip for in­creas­ing the re­turn on in­vest­ment (RoI) from your mar­ket­ing ex­pen­di­ture – add an­other ‘chan­nel’.

A study by the Ad­ver­tis­ing Re­search Foun­da­tion (ARF) sug­gests that multi-chan­nel cam­paigns give bet­ter re­sults for the same bud­get.

A cam­paign that runs on so­cial me­dia and in printed mag­a­zines, for ex­am­ple, gives bet­ter re­turns than one which uses just one of those chan­nels.

The ARF found that you can in­crease RoI by 19 per cent on av­er­age sim­ply by go­ing from one chan­nel to two.

Each ad­di­tional chan­nel be­yond that fur­ther im­proves Rol.

Ad­ver­tis­ing is more likely to be “en­coded in long-term mem­ory” if peo­ple en­counter it in mul­ti­ple me­dia, says the ARF.

The re­search was mostly con­ducted with con­sumer­fac­ing brands which use TV ad­ver­tis­ing.

But if the un­der­ly­ing prin­ci­ples are sound then there are lessons for smaller cam­paigns – not just those sell­ing to con­sumers but those sell­ing to busi­nesses as well. Of­course, pick­ing the right chan­nels and man­ag­ing them ef­fec­tively is also im­por­tant. Re­cent re­search from Royal Mail says that 69 per cent of UK small busi­nesses pre­fer to de­velop and man­age all their mar­ket­ing in-house – and 16 per cent out­source it all. That leaves 15 per cent which use a mix­ture of ex­ter­nal agen­cies and an in-house team to man­age their mar­ket-ing. I think that this group has the right idea.

Mar­ket­ing is so fun­da­men­tal to a busi­ness that it can­not be en­tirely out­sourced.

By all means bring in some ex­ter­nal ex­per­tise, but se­nior man­age­ment in­volve­ment is es­sen­tial to set the strat­egy.

An ob­vi­ous anal­ogy is an overseas jour­ney.

You need to de­cide on the des­ti­na­tion and the de­par­ture date but you can out source the pro­vi­sion of the air­craft and the pi­lot­ing.

If you had to rely on your own skills and re­sources you might be re­stricted to walk­ing! Sim­i­larly with your mar­ket­ing. A small busi­ness may not have the skills to un­der­take multi-chan­nel mar­ket­ing.

If all you know how to do is place adverts in news­pa­pers, that is what will de­fine your strat­egy if you aim to do it all your­self.

Fol­low­ing the crowd (the 69 per cent who do all their mar­ket­ing them­selves) may mean get­ting lost in the crowd. The ‘stand-out’ busi­nesses are go­ing to be those that com­bine the best of in-house and ex­ter­nal re­sources across mul­ti­ple chan­nels.

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