Hidden Cost of Mismanaging Your Digital Advertising With Less Than Ideal Marketing Funnel Strategy

Advertising Reads Mar 25, 2020

Excerpt

Digital advertising must focus beyond the initial click. And consider and plan for anticipated user interactions across the marketing funnel. Any breakdown and inconsistent user experience will have unrealized hidden costs.

Introduction

In this competitive world, dealing with customers with the mentality of wanting everything right now, companies are challenged with the permanent task of keeping phase with their target audience expectations at all levels.

Because of this uncertain and fluid situation, the company's digital efforts are facing undue pressure while managing any digital initiatives aimed at engaging customers.

And the problem is compounded for the marketer with the whole host of the digital ecosystem to negotiate, and is not making their life any more comfortable either; the sheer amount of channels and methods to analyze - from finalizing platform choices to the type of content. And not mention the option and, in some cases, the necessity of reaching out through email and short messages, etc.

No wonder, the job of the marketer is not that easy to plan and execute digital campaigns today.

Hidden Cost of Mismanaging Your Digital Advertising With Less Than Ideal Marketing Funnel Strategy - renttheant.com

The challenge

It's hard enough to take in all the needs of your company and methodologically plan for the marketing campaigns. And any failure to correctly measure and understand the outcome to adjust and respond will only compound the problems going forward.

Marketing is the function of prediction from coming out with a baseline expectation of audience reactions to your offer, and continuously in real-time update your understanding based on the updated fact coming out of incoming raw data while executing a campaign.

As you can see, the effective execution of any marketing project is not only getting your planning part right, and more importantly, but also to have an array of responses ready, and to make sure that which are in alignment with campaign stated objectives.

While you may be ready with your planning to handle any expected outcomes, life in the real world may throw surprises at you. And must be prepared and agile enough to react to any eventuality, to see the full potential of the investment.

Any failure in fulfilling any part of these expectations not only results in a loss of marketing spend without seeing any return in the short term, but it may also cause longer-term impacts silently in the form of opportunity cost.

I see this failure coming in three levels throughout the digital marketing lifecycle.

Not much planning

In this case, blind spending money on an advertisement with let's see what sticks approach, you are not only risking the marketing dollars, and also diluting brand identity and perception about your company values and standing in the marketplace.

When you are in doubt about what you are doing and readiness to mount on effort like digital advertising, try to convince yourself that there is an option to wait.

Your customer will take out that phone tomorrow and tap, no matter what. And you can always reach them at the ideal time and place.

So, take time and get your ducks in a row before deciding to plunge into that deep digital ocean.

Poor Response

This level of readiness is the dangerous territory and might cause your brand more damage and sustained financial penalty for doing it anything less than spectacular.

Mainly because you have already proved that you have done homework in planning, and there is a certain amount of expectations created among your target audiences.

For instance, you have pressed all the right buttons while communicating in your promo and explaining the proposition.

And, now that convinced prospect or existing customer responding with the signal, only to see you don't have expected response in place to satisfy them.

A situation like these will leads to an increase in churn rate and a decline in customer growth. And all of this means a financial loss today and into the future.

Customer retention is the most cost-effective way to increase the frequency and lifetime value of the customer. Unsatisfied and less than the thrilled customers will more likely to jump ship with an alternate in the market.

Additionally, this must highlight the need for integrated marketing initiatives across the department in your organization. And the need for everybody knows in advance about the role might play during all phases of that campaign.

Absence of consistency

This part shows the maturity level of your marketing team'  's and their ability to provide a consistent experience for your customers.

Having a system in place to understand each time what channel worked and message resonated with the audience and document them would be highly beneficial. And use the learning in the next one as a feedback loop only serves to gain the confidence and loyal base among customers.

Failing that will create an impression of lack sincereness on your part and inadequate response to your call to action.

Final thought

As you can see, any digital initiative is not to start and end with getting creative ready. Sure, that's one of the main parts without that will not be able to tell the story effectively.

Like in any storytelling, marketing has there part start, middle, and end of it. So, it's imperative that for any successful digital campaign, one has to plan for all three phases and execute well consistently.

Inner Voice

I am "Rent The Ant" Inner Voice. The collective voice of our team both in-house and partners.