Customer Lifetime Value

Increased ROI: How our Customer Lifetime Value model boosted profitability and customer loyalty

The Customer Lifetime Value (CLTV) is one of the most important metrics in the marketing and loyalty strategy of any company. Through the CLTV calculation, companies can understand how much each customer is worth throughout their life cycle and therefore optimize their customer retention and acquisition strategies.

In this post, we will share a success story in which CLTV was extracted to improve the marketing strategy of a company, which resulted in a significant increase in profitability and customer loyalty.

Discover how the use of customer lifetime value can be the key to the sustainable success of your business.

What is the Customer Lifetime Value (CLTV)?

The Customer Lifetime Value (CLTV) is a metric used in marketing to measure the total economic value that a customer brings to a company during the entire time they are a customer of the same.

The CLTV is calculated taking into account the monetary value that a customer contributes to the company throughout his life as a customer. It takes into account the amount he spends on each purchase, the frequency with which he makes purchases, and the time spent remains as a customer of the company.

This metric is very useful for companies, since it allows them to know the real economic value that each customer contributes. And, therefore, focus their efforts on retaining the most valuable customers and loyalty, instead of spending only on acquiring new ones.

The client

A renowned retail company that sells all kinds of products, from textiles to home and appliances, among others. With a presence in different Latin American countries.

The business challenge

Within a sample of 10% of the consumer portfolio selected by our client, four types of consumers were identified:

1. Those who were inactive for more than 6 months

2. Those who presented a very sporadic transactional behavior and low ticket, with purchases between 3 and 6 months.

3. A third group with a high transactional behavior from the point of view of the value of the ticket and with purchases in the last three months.

4. The highest value group, where there were customers with at least one purchase per month in the last 6 months, with medium and high ticket values.

The challenge posed by the client was to carry out campaigns through three channels (mobile phone, email and physical mail) that would increase the RFM (Recency, Frequency, Value) in each of the identified groups.

Solution GBA Smart Marketing®

Initially, we collected all transactional information from the four customer groups for the last 24 months. Understanding their consumer categories, points of sale where they made purchases, payment method, and, of course, the details of the products purchased.

We carried out analyses that allowed us to understand the correlation of the points of sale with the places where the consumers lived. We analyzed the correlation that existed between the campaigns to which these consumers were exposed during this period of time and their actual purchases for each of the categories and PLU’s/SKU’s.

In the same way, we study the response to the different messages and define the “Best Time to Contact” for each one in order to differentiate the results from the dimension of the contact rate. Likewise, the response of the campaigns and the purchases were actually achieved.

With the Attribute Set by GBA Smart Marketing®, and information from our client, we built a CLTV model that contributed to the prioritization of each of the consumers according to their segment. The budget that was worth investing in each of them, identify those consumers with high potential, and optimize the budget by calculating the ROI of each of the campaigns we manage. All of them were analyzed from four dimensions: Point of Sale, Product Category, RFM, and Consumer Segment.

The comprehensive solution also incorporated the Social & Mobile Data of the target we are targeting. It was possible to segment and sub-segment all the consumers by their tastes in more than 300 categories, profiles, and geolocation.

The result

  • We built a solution that allowed us to have, in one place, the complete and necessary information to plan a successful campaign.
  • We make it possible to measure the ROI of each campaign just hours after it is executed.
  • We optimize the communications budget by generating fewer contacts with greater effectiveness.
  • We increased recency globally in the four groups by 8.76%.
  • The frequency increased, on average, for the four groups, with 0.65 monthly transactions per consumer.
  • The average ticket of the four groups increased by 11.54%.
  • The ROI of the solution, at the end of the project, was 21.98% higher than the customer’s historical ROI.

For GBA Smart Marketing®, the value and interpretation of the data have a fundamental role in the development and innovation of our portfolio of customized solutions for each of our clients. Contact us for more information about our services.

Marketing basado en cuentas - MBA

Account-Based Marketing Insights – ABM: Why Is It Critical For Your Business?

Account-based marketing has become increasingly popular in recent years, especially among B2B (business-to-business) companies that have a limited target group and need to focus on generating sales with some high-profile accounts, worth.

Instead of waiting for customers to come to them, companies using ABM go directly to the accounts they want to reach, offering personalized content and solutions specific to their unique needs.

What is Account-Based Marketing – ABM?

Account-Based Marketing (ABM) is a marketing strategy that targets specific accounts or leads rather than a broader audience.

Instead of creating blanket marketing campaigns that try to appeal to a large audience, ABM focuses on identifying and targeting specific accounts that are considered high quality and have high sales conversion potential.

How to implement this strategy?

To implement an ABM strategy, you first identify the accounts that have the highest potential to become customers. Then, personalized content is generated and focuses on building long-term relationships with these specific accounts.

ABM often involves close collaboration between a company’s marketing and sales teams to ensure that the highest-value accounts are being targeted effectively. In general, the goal of ABM is to increase marketing effectiveness and revenue generation by targeting accounts that have the greatest potential to become long-term, profitable customers.

But what are the prospects for account-based marketing this year?

The outlook is very positive for this year, and it is expected to have an increasing impact on marketing and sales in the years to come. Here are some of the trends and prospects expected for ABM in the coming months:

Increased adoption

More companies are expected to adopt ABM this year as there is increasing evidence of its effectiveness in driving results. In fact, according to a report from the B2B Marketing Association, 92% of marketers consider ABM to be a very important strategy for their business.

Personalization

Personalization will continue to be a key trend in ABM this year. Businesses that can personalize their messages and experiences for each account will have a competitive advantage in the marketplace.

Data integration

ABM requires a large amount of data and analytics to be effective, so more and more companies are expected to invest in analytics tools and technology to improve their ability to collect and analyze data.

Focus on quality

Instead of operating on the number of leads generated, companies that adopt ABM will focus more on the quality of the accounts and their ability to generate long-term revenue.

Automation

Automation is expected to play an increasingly essential role in ABM as companies look for ways to improve the efficiency and scalability of their campaigns.

How can we integrate ABM with current marketing strategies?

By integrating ABM with your existing marketing strategies, you can create a more targeted and personalized approach to engaging with your target accounts. This can help you build stronger relationships with your most valuable customers and generate more revenue for your business. Here are some steps to help you integrate ABM with your current marketing strategies:

  1. Identify your target accounts – Start by identifying the key accounts you want to focus on with your ABM strategy. Use data and analytics to prioritize your target accounts based on the potential value to your business.
  2. Align sales and marketing: ABM is most effective when it’s aligned with your sales team. Work with your sales team to identify key accounts and devise a plan to engage with them.
  3. Develop personalized content – ​​that speaks directly to the needs and challenges of your target accounts. This can include blog posts, case studies, videos, and landing pages, among other types of content.
  4. Leverage Targeted Advertising – Use targeted advertising to reach your target accounts through different channels. This may include advertising on social networks, Google Ads, and other forms of online advertising.
  5. Use account-based analytics – To measure the success of your ABM strategy, this can include tracking engagement rates, lead generation, and conversion rates for your target accounts.
  6. Integrate ABM with other marketing strategies: ABM is most effective when integrated with other marketing strategies, such as content marketing, social media marketing, and email marketing. Use ABM to complement and enhance your existing marketing efforts.
  7. Continually optimize your ABM strategy – As you implement your ABM strategy, continually monitor and optimize your approach based on the data and feedback you receive. This will help you refine your approach and achieve better results over time.

Finally

At GBA Smart Marketing, we understand that each company is unique and requires a personalized strategy that fits its specific needs. For this reason, our approach is based on carefully listening to the needs of our clients and designing customized solutions that allow them to achieve their business objectives.

If you are interested in learning more about our different ABM One-to-One, One-to-Few, and One-to-Many services, do not hesitate to contact us. We will be happy to discuss with you your needs and how we can help you achieve your goals. Don’t wait any longer to boost your business and grow your sales with GBA Smart Marketing!

B2C demand generation

Importance, advantages, and benefits of B2C demand generation

The B2C demand generation process is a crucial part of the customer acquisition process in any company. It helps companies and organizations to collect information about their target audience, attract them with content and convert them into customers.

The demand generation process is also known as lead generation or lead nurturing. The main goal of this process is to generate leads for your business so that they can later become paying customers.

What is B2C demand generation?

B2C (Business to Consumer) demand generation refers to the process of identifying, attracting, and nurturing individual leads for a company’s products or services. In a B2C demand generation strategy, companies use a variety of marketing and advertising techniques to attract the attention of consumers and convert them into customers.

Some common B2C demand generation techniques include online advertising, search engine optimization, email marketing, social media, content marketing, and promotions. These techniques are used to attract the attention of consumers, educate them about the company’s products or services, and persuade them to make a purchase.

In B2C demand generation, it is understanding the important needs and desires of consumers and developing messages and offers that resonate with them. Companies must also measure and analyze the results of their demand generation campaigns to identify which techniques are most effective and adjust their approach accordingly.

What is the importance of B2C demand generation?

The importance of B2C lead generation has increased over time as it helps companies increase their revenue and profit margins. Attracting more customers through various marketing strategies such as telemarketing, email marketing, and social media marketing.

Increases sales: Effective demand generation can help a company increase its sales, since consumers who are interested in the company’s products or services are more likely to make a purchase.

Improves brand visibility: Demand generation can also help improve brand visibility in the marketplace. By promoting the company’s products or services through different marketing channels, the company can increase its exposure and attract more potential customers.

Build customer loyalty: Demand generation can also help build customer loyalty. If the company offers high-quality products or services and provides a great customer experience, customers are more likely to return to buy in the future.

Helps segment the market: Demand generation can also help companies segment their target market and better understand the needs and wants of their customers. By better-understanding customers, the company can tailor its marketing and sales strategies to better meet their needs.

Advantages of B2C Demand Generation

B2C demand generation has several advantages over other types of lead generation, such as:

  • Target Audience: Focuses on targeting a specific audience rather than targeting everyone in the market. This makes it easier for marketers to better understand their target audience and build trust with them over time. This also helps them improve their marketing strategies and tactics so that they can easily reach more people who are interested in their products/services without spending time or money on them.
  • High Conversion Rates: If you’ve worked on B2C lead generation before, then you know how important it is for marketers to get high conversion rates, so they can make more sales from their efforts.
  • Helps Businesses Generate Large Numbers of Leads Quickly with Minimal Effort: With the help of B2C lead generation tools, you can easily generate many leads quickly without spending too much time on it. This makes it an effective tool to attract more customers in a short period of time.
  • Helps businesses target the customers most likely to buy their products or services: You can target the people who are most likely to buy your products or services based on their demographics.
  • Reaching new customers: You can use the tools to reach new audiences that you might not otherwise reach through traditional advertising channels, such as print ads and television ads. These tools include search engine optimization (SEO), social media marketing, and paid advertising on social media such as Facebook, Twitter, LinkedIn, and YouTube.
  • Build credibility: When people visit your website after clicking on one of your ads or coming across one of your online posts, they’ll see that you’ve invested time and money in promoting yourself online, which shows them that you care. This way, they are more likely to do business with you in the future because they will trust you more than someone who has no digital presence at all.

Lead Generation Benefits

One of the most important benefits of B2C demand generation is that it helps increase the sales of the company. By promoting your products or services through different marketing channels, you can attract more potential customers and increase the likelihood of making a sale.

This has an impact on improving the visibility of the brand in the market. By promoting the company’s products or services through different channels, the brand’s exposure can be increased to a wider audience.

In a sort of cascading effect, customer loyalty is fostered; If the business offers high-quality products or services and provides an excellent customer experience, customers are more likely to return to purchase in the future.

Finally, it improves profitability, by reaching a broader audience and increasing sales, generating higher income, and improving its profitability.

How can you measure the effectiveness of a B2C demand generation campaign?

The effectiveness of a B2C demand generation campaign can be measured using a variety of metrics and analysis tools. Here are some of the most common ways to measure the effectiveness of a B2C demand generation campaign:

1. Conversions: The number of conversions is an important metric to measure the effectiveness of a demand generation campaign. A conversion can be any action the customer takes, such as purchasing a product, downloading content, or requesting information.

2. Conversion Rate: This is the percentage of website visitors who convert. This metric is useful for evaluating the effectiveness of demand generation efforts and the quality of website traffic.

3. Cost per conversion: it is the amount of money that is spent to obtain a conversion. This metric is useful for evaluating the efficiency of a demand generation campaign and determining whether the costs of the campaign are justifiable.

4. Return on investment (ROI): it is the relationship between the income generated and the costs of the campaign. This metric is useful for evaluating the profitability of a demand generation campaign and determining if the investment made has been effective.

5. Google Analytics: It is a web analytics tool that allows you to measure website traffic, conversion rate, user behavior, and other important data related to the effectiveness of the demand generation campaign.

Summary

B2C demand generation is a key process for companies selling products or services directly to consumers and requires a carefully planned and executed marketing strategy to be successful.

If you are looking for an effective B2C demand generation strategy to boost your business, our team of digital marketing experts have extensive experience designing and implementing B2C demand generation strategies for companies of different sizes and industries.

At GBA Smart Marketing, we understand that each company is unique and requires a personalized strategy that fits its specific needs. For this reason, our approach is based on carefully listening to the needs of our clients and designing customized solutions that allow them to achieve their business objectives.

If you are interested in learning more about our B2C demand generation solutions, do not hesitate to contact us. We will be happy to discuss with you your needs and how we can help you achieve your goals. Don’t wait any longer to boost your business and grow your sales with GBA Smart Marketing!

Estrategias comerciales y marketing

Emerging trends in business strategies and marketing for this 2023-2024

2024 promises to be an exciting year for sales and marketing, with new technologies and approaches emerging that will enable companies to deliver a more personalized and effective customer experience. Therefore, we will analyze some emerging trends in business strategies and marketing for this year.

The biggest trend we are seeing is that companies are becoming more and more customer-centric. As customers become more demanding, it is important that companies provide them with the products and services they want.

Perspectives in business strategies and marketing

In the next five years, companies will focus on building long-term relationships with their customers, offering them better products and services at lower cost. This means that the customer experience is critical and must be considered in all aspects of businesses.

In a recent Forrester Research study, 80% of B2B buyers said they would stop doing business with companies that did not provide a great customer experience. Businesses that offer remarkable experiences will be rewarded with loyal customers who will recommend them to others and spend more money over time than those that don’t offer a seamless experience.

Customers no longer like to be treated like numbers, they want to be treated as individuals. Personalization means giving customers exactly what they need and want at every step of their journey through your website or app. This can be something as simple as offering them a discount if they share their email address. Or something more complex like offering them different options based on where they live or what device they use to access your website or app. It’s all about personalizing the experience so that it feels like it’s designed just for them.

• The rise of AI-powered marketing automation: Artificial intelligence (AI) has been around for decades, but it’s only recently that companies have begun to integrate it into their marketing strategies. By 2024, AI will be used by 80% of B2B companies to personalize their campaigns, create better content and increase ROI.

• Social networks as a sales tool: social networks are no longer just a place where people share photos and videos or comment on other people’s posts, but have become a valuable sales tool for companies that want to interact with your audience before they even get in touch with them by email or phone.

Competitive edge

As the global economy continues to evolve, businesses must stay ahead to remain competitive and successful. This includes understanding how business strategies, marketing strategies, and other trends will affect your operations. By having a clear understanding of these trends, companies can ensure that they are prepared for any changes that may arise in the future.

For this reason, we cannot lose sight of the fact that the digital revolution will continue apace. Technology will become more advanced, consumers will demand more from brands, and people will stay even more connected than ever before.

What are those emerging trends?

These are some of the trends that we foresee will be present in business and marketing strategies by 2024, among which the following stand out:

1. Content Marketing: Content marketing continues to be a key strategy to generate engagement and loyalty among consumers. In 2024, brands are expected to continue producing quality, relevant content adapted to the different channels and formats, such as videos, podcasts, and infographics, among others.

2. Personalization: Consumers increasingly expect a more personalized experience, and brands are embracing technology and tools to offer personalized products and services in real-time.

3. Artificial Intelligence: AI is transforming the way companies do business, and brands are expected to continue investing in this technology to improve efficiency, personalization, and customer experience. AI can also be used to improve audience segmentation and purchase behavior prediction.

4. Omnichannel: Consumers expect a seamless and consistent shopping experience across all the channels they use, from physical stores to social media. This indicates that brands continue to adopt an omnichannel strategy to improve the customer experience and increase retention.

5. Sustainability: Sustainability continues to be a major concern for consumers and in 2024, brands must continue to adopt sustainable practices in their supply chain, production, and distribution. Companies can also use sustainability as a competitive differentiator.

6. Influencer Marketing: Influencer marketing continues to be a relevant trend for brands looking to reach specific audiences and build trust in their products and services. In 2024, influencer marketing is expected to continue to evolve toward more authentic and lasting relationships between brands and influencers.

7. Marketing automation: Marketing automation allows companies to make the lead generation process and campaign management more efficient and effective. Investing in marketing automation tools to improve the efficiency and effectiveness of your campaigns will be an irreversible trend.

8. Augmented and virtual reality: Augmented and virtual reality are being increasingly used by brands to improve the customer experience and increase interaction with their products and services. For example, some stores are using augmented reality to allow customers to virtually try on items like clothing and makeup before buying. In the case of virtual reality, some brands are creating immersive experiences for their customers, allowing them to virtually explore their products and services in a simulated environment.

9. Conversational commerce: refers to the use of chatbots and virtual assistants to interact with customers and facilitate purchase and support. Additionally, chatbots can be programmed to learn from customer interactions, improving their ability to provide accurate and helpful responses over time.

10. Immersive brand experiences: are those that seek to involve customers in an experience that goes beyond the simple purchase of a product or service. This technique can generate greater engagement and loyalty in your customers. For example, some brands are creating physical or virtual installations that allow customers to interact with their products and services in a unique and memorable way. These experiences can be shared on social networks and generate greater reach and engagement with the brand.

11. Values-Based Marketing: More and more consumers are looking for brands that share their values ​​and social and environmental concerns. In 2024, companies are expected to continue to take a more conscious and sustainable approach to their business practices and to effectively communicate this to their customers. Brands can use their commitment to sustainability, social justice, or gender equality to differentiate themselves from the competition and build a deeper, more meaningful relationship with their customers.

12. Voice Marketing: With the rise of virtual assistants and voice recognition technology, voice marketing is emerging as a new way to interact with customers. Brands can use voice to provide product recommendations, make reservations, or answer customer questions. Additionally, brands can use voice to create personalized brand experiences, using the tone of voice and language that best suits their target audience.

In a recent Accenture report, it is mentioned that “the digital age has reached a point where it affects all aspects of our lives”.

As companies evolve and adapt to changing environments, so must their strategies. To succeed in business, it is essential to keep pace with changing times. Companies that do not adapt their strategies and practices to the latest trends run the real risk of falling behind the competition.

New technologies are transforming the way companies do business. It is important that customers are aware of the latest innovations in their area of ​​business. You must be willing to experiment and try new tools and technologies to improve efficiency, personalization, and the customer experience.

Understanding these trends is essential for any business looking to continue to succeed for years to come.

Marketing subcontratado

The power of outsourced marketing services and how can help a business grow

Outsourced marketing services allow businesses access to experts in their field who can help them create content that resonates with their customers, optimize their campaigns for maximum efficiency, and develop strategies that generate more leads and conversions. With these services, companies can focus on what they do best and leave the rest of the work to professionals who specialize in marketing.

The power of outsourced marketing services lies in their ability to provide expert guidance and support for all your marketing needs. With a team of experts on hand, you can ensure that all aspects of your marketing campaigns are handled correctly and efficiently.

What is the outsourcing of marketing services?

The outsourcing of marketing services, also known as marketing outsourcing, refers to the contracting of third parties specialized in marketing to carry out activities related to the promotion of a company’s products or services. In this business model, a company hires a marketing agency or marketing service provider to perform specific marketing-related functions, such as social media management, content creation, online advertising, and research market, among others.

Marketing outsourcing has become increasingly popular among businesses as it allows them to access specialized skills and knowledge without having to invest in hiring in-house staff or purchasing expensive marketing technologies and tools.

In addition, it allows companies to continue operating in their core business and other critical activities, while marketing service providers are in charge of planning and executing effective marketing strategies.

What benefits do companies obtain when outsourcing marketing services?

Outsourcing marketing services can provide various benefits including:

Cost reduction: By outsourcing marketing services, companies can save on staffing costs, training, infrastructure, and equipment. Instead of having an in-house marketing team, they may hire an outside agency that already has what it takes to carry out marketing activities.

Access to experts: Marketing agencies usually have a team of experts in different areas of marketing. Like advertising, public relations, digital marketing, market research, among others. By outsourcing marketing services, companies can access this specialized knowledge without having to hire in-house experts.

Flexibility: By outsourcing companies can easily adapt their marketing strategies as market needs or business objectives change. If more staff or resources are needed, the outside agency can quickly provide them.

Quality improvement: By hiring an experienced marketing agency, companies can improve the quality of their marketing campaigns. Marketing agencies often have tools and resources that allow them to run high-quality campaigns that can help businesses improve their brand image and attract more customers.

Time savings: By outsourcing marketing services, companies can save time planning, implementing, and monitoring their marketing campaigns. This allows them to focus on other areas of their business and be more efficient overall.

What type of marketing services are the most common to outsource

There are various marketing services that companies can outsource, some of the most common include:

1. Graphic design and creativity: Companies can outsource graphic design and creativity services, such as logo creation, packaging design, and design of advertising materials, among others.

2. Advertising: Companies can outsource advertising services, such as the planning and execution of advertising campaigns in mass media, online advertising, and advertising on social networks, among others.

3. Public Relations: Companies can outsource public relations services, such as reputation management, crisis management, and the creation and distribution of press releases, among others.

4. Digital Marketing: Companies can outsource digital marketing services, such as website creation and management, SEO strategies, email marketing campaigns, and online advertising, among others.

5. Market research: Companies can outsource market research services, such as surveys, market studies, and data analysis, among others.

6. Events and promotions: Companies can outsource events and promotions organization services, such as trade fairs, product launches, and promotions at points of sale, among others.

In general, any marketing service that is not a core business activity or that requires specialized skills or specific resources can be outsourced. It is important for businesses to carefully assess their needs and choose a trusted and experienced marketing agency to ensure they get the desired results.

What are the benefits of outsourcing marketing services instead of doing them in-house?

Outsourced marketing services offer a number of important benefits for businesses. Including cost reduction, access to experts, flexibility, quality improvement, and time savings. Other additional ones are the following:

Greater scalability: Companies can increase or decrease the amount of marketing services they need based on their needs, without having to worry about hiring or firing internal staff. Marketing agencies can provide the resources needed to accommodate these fluctuations in demand.

Better measurement of results: Marketing agencies often have the tools and experience to measure and analyze the results of marketing campaigns. By outsourcing marketing services, companies can gain a better understanding of the results of their marketing campaigns and make more informed decisions going forward.

Risk reduction: Businesses can reduce the risk of costly mistakes in their marketing campaigns. Marketing agencies have experience creating and executing successful marketing campaigns. This reduces the probability of errors and increases the effectiveness of the campaigns.

What are the trends and best practices in outsourced marketing services for 2023

Regarding trends, the most relevant in the field of outsourced marketing services can say:

1. Increased use of automation technologies: Automation of marketing processes has become increasingly common. Marketing automation tools help businesses automate tasks like sending emails, scheduling social media posts, and content personalization.

2. Increased focus on customer experience: Companies are realizing that customer experience is a key factor in marketing success. Therefore, they are looking to outsource marketing services that focus on improving the customer experience.

3. Increased use of data analytics: Companies are using more and more data to inform their marketing strategies. Companies that outsource their marketing services look for providers who can help analyze and use data effectively.

Regarding good practices, some recommendations are:

1. Set clear objectives: Before outsourcing marketing services, it is important to have clear objectives in mind. This will help ensure that the selected vendors can meet the company’s goals.

2. Open and frequent communication: Communication is key to a good relationship with marketing service providers. It is important to maintain open and frequent communication to ensure that objectives are being achieved and to address any issues that may arise.

3. Careful selection of suppliers: It is important to select suppliers carefully to ensure that they have the necessary experience and skills to meet the objectives of the company. It is also important to make sure that the providers have a good reputation and references.

4. Set Clear Expectations: It is important to set clear expectations with marketing service providers. This includes setting deadlines, deliverables, and any other relevant information.

5. Measure success: It is important to measure the success of outsourced marketing services to ensure that the objectives of the company are being met. This can also help inform future decisions about outsourcing marketing services.

What metrics are suggested to measure the success of outsourced marketing services?

There are various metrics that can be used to measure the success of outsourced marketing services. The choice of the same is obtained from the specific objectives of the company and the type of marketing service that has been outsourced. Here are some metrics that could be useful in different cases:

• Customer retention: Customer retention is an important metric for evaluating the effectiveness of long-term marketing strategies. This metric measures the proportion of customers who return and make repeat purchases. A high customer retention rate indicates that marketing strategies are effective in keeping customers satisfied and engaged.

• Lead Generation: If the goal of the outsourced marketing service is to generate leads, then an important metric to measure would be the number of leads generated. Additionally, other related metrics could be measured, such as cost per lead or lead-to-customer conversion rate. This metric can be useful to identify areas of opportunity in marketing strategies and to determine the return on investment of marketing campaigns.

• Website traffic: If the goal of the outsourced marketing service is to increase website traffic, then an important metric to measure would be the number of website visits. Additionally, metrics such as bounce rate, time spent on site, and number of page views per visit could be measured.

• Interactions in social networks: If the objective of the outsourced marketing service is to improve the presence in social networks, then an important metric to measure would be the number of followers or fans in the different social networks. Additionally, metrics related to user interaction with the content could be measured, such as the number of likes, comments, shares, and mentions.

Regarding investment

• Return on Investment (ROI): ROI is a metric used to measure the return on investment of a marketing campaign. This metric measures the amount of revenue generated relative to the amount spent on the campaign. If the goal of the outsourced marketing service is to generate revenue, then ROI could be a useful metric to measure.

• Cost Per Acquisition (CPA): CPA is a metric that measures the average cost of acquiring a new customer. This metric is important in evaluating the effectiveness of marketing campaigns and in determining the true cost of acquiring new customers.

• Customer Satisfaction: If the goal of the outsourced marketing service is to improve customer satisfaction, then an important metric to measure would be the level of customer satisfaction. This can be measured through surveys or customer feedback.

Finally

It is important to remember that the metrics must be aligned with the objectives of the company and that not all metrics are relevant in all cases. Therefore, it is advisable to define the objectives and choose the right metrics to measure the success of the outsourced marketing service.

Outsourcing marketing services can be an effective way to increase the reach and visibility of a business in 2023. With a team of experienced professionals, you have access to the latest tools and techniques that will help you grow a business faster.

Agile marketing

Agile marketing, definition and some of its benefits

Agile Marketing is a marketing methodology that is based on the principles and practices of agile software development. This methodology focuses on collaboration, flexibility, and responsiveness to change, allowing marketing teams to work more efficiently and effectively.

Marketing teams that adopt this methodology work in short cycle times and focus on the continuous delivery of effective and measurable campaigns, while collaborating closely with other company departments and clients.

What is Agile Marketing?

The Agile Marketing approach is based on continuous iteration and constant feedback. Marketing teams work in short cycles of time, called “sprints,” in which they focus on specific, measurable tasks. At the end of each sprint, the results are reviewed, and the focus is adjusted for the next sprint.

It also encourages collaboration between different members of the marketing team, as well as with other departments in the company. This allows for greater alignment with company goals and a better understanding of customer needs.

Agile Marketing is based on four core values ​​and twelve principles, which are derived from the Agile Manifesto. These values ​​and principles guide the way marketing teams work and communicate with each other:

The four core values ​​of Agile Marketing are:

1. Respond to change over following a plan: Marketing teams must be able to quickly adapt to changes in the market and customer needs, rather than following a rigid plan.

2. Customer collaboration over contract negotiation: Marketing teams must work closely with customers to understand their needs and create solutions that satisfy them.

3. Frequent and regular delivery of effective campaigns over the creation of detailed strategies: Marketing teams must focus on delivering effective and measurable campaigns in short cycle times.

4. The ability to respond to change over following a plan.

The twelve principles of Agile Marketing are:

  1. Satisfy the customer through the early and continuous delivery of effective campaigns.
  2. Welcome changes in requirements, even late in the project.
  3. Offer effective campaigns with a preference for short cycle times.
  4. Work closely with other company departments, including sales, product development, and customer support.
  5. Build projects around motivated people and trust them to get the job done.
  6. Use face-to-face conversations as the most effective means of communicating information within the team.
  7. Effective campaigns are the main measure of progress.
  8. Maintain a sustainable pace of work for the team.
  9. Pay continuous attention to technical excellence and good design.
  10. Simplify the marketing process and eliminate any unnecessary work.
  11. Encourage self-organization within the marketing team.
  12. Regularly reflect on the team’s work and adjust the focus accordingly.

What are the benefits of using Agile Marketing?

Using Agile Marketing can bring many benefits to a marketing team. Here we mention a few:

  • Greater flexibility and responsiveness: Agile Marketing allows marketing teams to quickly adapt to changes in the market and in customer needs, allowing them to be more flexible and responsive.
  • Better collaboration and alignment: because it encourages collaboration between members of the marketing team and other departments of the company. This allows for greater alignment with company objectives and a better understanding of customer needs.
  • Increased Efficiency and Productivity: Focuses on early and continuous delivery of effective campaigns, allowing marketing teams to work more efficiently and productively.
  • Campaign quality improvement: By working in short cycle times and receiving constant feedback, teams can make adjustments and improvements in real-time, which can improve the quality of marketing campaigns.
  • Greater transparency and visibility: Agile Marketing uses tools for project management and collaboration in real-time, which allows for greater transparency and visibility in the marketing process.

How can I start implementing Agile Marketing in my team?

Implementing Agile Marketing in your team can be a process that requires some planning and preparation. Here are some steps you can take to get started:

  • Educate yourself and your team: Start by learning more about Agile Marketing and its principles. Share this information with your team and explain how it could benefit your marketing efforts.
  • Identify areas for improvement – ​​Look for areas in your marketing process that could benefit from a more agile approach. This could be anything from campaign planning and execution to reporting and analytics.
  • Start small: Pick a specific project or campaign to start with and apply agile principles to that project. This allows you to “test the waters” and see how Agile Marketing works for your team.
  • Define your goals and metrics: Set clear goals and metrics, this will help you measure your progress and gauge the effectiveness of your approach.
  • Build an Agile Marketing Team: Create a cross-functional team that includes members from different departments and areas of expertise to work on your Agile Marketing project.
  • Hold regular retrospectives – Schedule regular retrospectives with your team to assess your progress, identify areas for improvement, and adjust your approach as needed.
  • Use agile marketing tools – Embrace agile marketing tools such as project management software, collaboration tools, and reporting dashboards. These tools can help you manage your Agile Marketing projects more effectively.

Remember, implementing Agile Marketing is a process, and it may take some time to see the benefits of this approach. Be patient and persistent, and continue to learn and adapt as you go.

Finally, the use of Agile Marketing can offer many benefits, including greater flexibility and responsiveness, and better collaboration and alignment. Greater efficiency and productivity, improvement in the quality of the campaigns, and greater transparency and visibility in the marketing process.

You can contact us today if you are looking to implement this strategy in your team.

GBA Smart Marketing® is a Marketing as a Service (MaaS) company. We serve the marketing and business intelligence needs of our clients through a powerful combination: Expertise + Data Intelligence & Analytics + Martech.