Every marketing campaign should have two goals: research & results. While that may seem obvious, there is more to the equation that many marketers don't consider when evaluating campaign performance.
At Harvest Growth, we execute and analyze hundreds of marketing campaigns. If we were to simply look at the results after each campaign and not consider any other variables, then we could lead a lot of our clients in the wrong direction.
For example, let's take a fictional character named Carl who invented product X. Carl has spent hundreds of hours as well as a significant financial investment in developing product X and has finally received his first batch of inventory! Carl is eager to get product X into the hands of consumers now that his inventory has arrived, so he puts together a $2,000 Facebook marketing campaign right away. A couple of weeks have gone by since the campaign has been live, but Carl has only received $50 in revenue, or 5 orders, from his Facebook campaign.
Based on what these results tell us, you might say that campaign was a total failure. Furthermore, you may even say Facebook simply isn't the right advertising vehicle for product X and suggest removing that medium from the product's marketing plan completely. All of which are good assumptions, because Carl is sad AND nobody likes to see a 0.025 ROI on their advertising campaigns.
However, what Carl didn't do PRIOR to launching his campaign that is a complete game changer for many businesses is obtain market research about product X, its target audience, and how to position product X with relevant messaging so that his target audience will buy. Carl could have learned that product X needed to be priced differently, targeted to females 25-45, or he could have realized there is a benefit product X provides his consumers that he never mentioned in his original Facebook advertising.
These learnings would have changed his results completely, and Carl could have ended up in a much better spot if he would have remembered the importance of research AND results combined.
Or, Carl could have come to Harvest Growth and we would have made sure he is making all the right moves in order to improve his odds at being a success.
Don't be like Carl! Instead, watch the video above where Jon will walk you through some of our best practices on how to measure and make improvements on marketing efforts with RESEARCH and RESULTS!
Sometimes the most simple of changes can lead to the biggest reward. We believe this "back to basics" refresher hits the nail on the head of "simple, yet rewarding" changes aimed at growing your business, so you have no reason not to check this one out!
What do you think about this topic? Do you have any suggestions on what topic we should talk about next? We'd love to hear your comments!