STEP 1 of 7
Considers Brand, Emotional, Activation & Tactical phases
STEP 2 of 7
Considers & monitors a dozen points of reference across the entire promotional journey
STEP 3 of 7
Activates & monitors Demand Generation opportunities; optimising to the highest volume & lowest cost per opportunity.
STEP 4 of 7
Activates & monitors Conversion opportunities; optimising to the highest volume & lowest cost per opportunity.
STEP 5 of 7
Activates & monitors Repeat Purchase & Referrals opportunities; optimising to the highest volume & lowest cost per opportunity.
STEP 6 of 7
Activates & monitors Customer Loyalty & Advocacy opportunities; optimising to the highest volume & lowest cost per opportunity.
There’s nothing wrong with building a brand using traditional ‘mass media’ such as TV. It’s an established method that still endures in many ad agencies led by old-school marketers. It works, no doubt about it. It’s a grower in the long term, but it can be difficult to prove its value in the short term. On the flip side is data-driven marketing that is digitally focused. This method is dominated by younger marketers who came up in the digital age. Click-focused, this method boasts accurate accountability of metrics such as cost per lead.
Marketing today seems to have a tribal nature – marketers use traditional or data-driven media, but seldom both. Using both usually means employing more than one Agency, with higher costs. Furthermore, CMO’s often focus more budget on one ‘team’ than the other … which is often the digital team, because digital offers accountability and capture of customers toward the centre of the marketing funnel. Plus, it’s hard to place an exact value on the brand building that happens at the top of the funnel, and this can lead to an important element being neglected and often missed from the mix because ascertaining its performance is difficult. … but in turn, business growth suffers.
It’s surprising that many in the industry allocates most focus on the ‘Conversion’ section of the marketing funnel, and little (if any) focus on the Brand Generation, Relationship Management & Propagation areas, when there’s no denying that each element affects the other and there is more opportunity to be recognised without spending more money.
Brand leaders are now recognising that when all areas of the funnel are activated, and all media and activity is monitored and optimised, opportunities inevitably improve. In fact, many businesses have found that through marketing optimisation using a Full Funnel approach, more new customers and sales emerge, without the need to add more money at the top of the funnel.
The fragmenting of the marketing into a host of niche suppliers can pose an enormous challenge for any business that seeks the advantages of Full Funnel marketing. Communication with each supplier to gain the necessary insight is inevitably frustrating and time-consuming.
By contrast, VAA offers all strategy, planning, creative, production, purchasing and monitoring services in one place. We look at every brief from the POV of maximising the results from every dollar spent, rather than maximise our results from our small part of the market.
We’ve established that monitoring just one slice of the marketing funnel – such as conversions – isn’t looking at the cake as a whole. So watching and optimising every touchpoint of the marketing funnel is surely a better way.
VAA’s ‘Full Funnel’ approach includes monitoring and optimisation beyond the enquiry … and beyond the areas of Sale into Relationship Management and Propagation. We evaluate opportunities and tactical activity post-enquiry, as this is where we find many hidden opportunities lie.
Because one lost opportunity after the enquiry is worth more than the cost of a new enquiry gained. A customer retained can mean repeat business and brand advocacy that continues to benefit a business long after the sale. A saved booking cancellation means there’s no need to invest more money for a replacement enquiry. A miss handled enquiry can lead to a missed opportunity. A misappropriated enquiry can lead to poor marketing decisions. And missed enquiry is simply unforgivable. The appreciation that the enquiry is not the end point, but an open door to a world of more opportunity, is a game changer.