Campaigns always start with a plan, but they can easily miss the mark without the adequate resources in place. How many marketing campaigns have we seen where marketers have failed to judge their target audience appropriately?
Previously, marketers have had to work with minimal data insights that have not revealed much about what motivates their customers and how they will behave. This era can be marked by the ‘product-dominant’ ‘spray and pray’ marketing philosophies that place a heavy emphasis on the value of the product/service they are promoting instead of on consumer behaviour.
However, every person is different. Preferences and inclinations considered, broad and open-ended campaigns simply will not cut it and reap little reward. Campaigns targeted at unsuitable and irrelevant audiences are why executives in the past have not seen the results they are looking for.
But times have changed, and now there is little reason for marketers to fall short of their potential.
In today’s world, where most processes are digitised in one way or another, we have an unprecedented level of exposure to data. A few years ago, Forbes revealed that we create 2.5 quintillion bytes of data each day. Marketing technology (martech) can help us to harness this data and make informed, evidence-led decisions, based on easily-accessible insights into customer habits and behaviours. The marketing process of today utilises a more scientific approach, and as a whole is a more sophisticated practice, even allowing you to test different strategies in real-time to assess the value of different campaigns.
Enterprises are beginning to see the value of automating basic marketing and customer service responsibilities. They can help mitigate the pressure that these departments face, allow employees to focus their expertise on more important tasks, and improve the overall customer experience dramatically.
Arora Project, an equity crowdfunding platform, recently implemented software to enhance their marketing processes. The platform’s success places a heavy reliance on generating lots of leads, outside of typical venture capitalists and banks.
Prior to this, Arora Project used Google Ads as their go-to marketing tool. This is a popular choice for new businesses as it allows targeted advertising, measurement capabilities, and controlled cost system allowing you to spend as much money as you would like. However, Arora Project found the platform to be an expensive tool that generated an incredibly high cost per lead. Furthermore, the team found that they were working extremely hard to find even a small conversion rate using Google Ads.
How Arora Project amplified their lead gen
Arora Project looked for a new martech solution and integrated Landbot’s powerful and flexible low-code/ no-code chatbot builder. Landbot had a similar vision to Arora Project’s integration of Google Ads – to help businesses increase their equity through lead generation.
The most impactful benefit of the transition to Landbot was the ability to trial and test different marketing campaigns. Through real-time data insights and automation, Arora Project was able to proactively A/B test their marketing efforts.
Turning all stakeholders into virtual focus groups, Arora Project continuously tested and assessed the effectiveness of different campaigns in the eyes of their target audience. Landing pages and headlines were continually tested, allowing Arora Project to assess which strategies were resonating best and where their efforts could be better placed.
After shifting to a martech platform that suited Arora Project’s needs, the team was able to increase leads by 40%. This cut the high cost per lead that Google Ads generated by 30%. This incredible increase in results greatly improved the efficacy of their business operations.
Hard numbers and hard results
Technology has changed the world we live in, providing us with in-depth data insights into consumer tendencies. Our marketing campaigns should not fail, and there is now little justification if they do.
Consumer behaviour insights can be viewed on a broader level for general trends, as well as at a granular level through personal interactions, depending on what is required of a campaign. This allows marketers to generate targeted campaigns, tailor-made for specific individual needs and requirements.
Whilst Arora Project has been one of the first companies to adopt this marketing technique, they will not be the last, and many more will follow. In the digital age, with exposure to a range of products and services, businesses cannot afford to standby and let other companies uplevel their processes significantly. The time to act is now to enhance your marketing processes and increase your lead generation.