Some brands seem to have runaway success. Sure, their ad campaigns are great, but that doesn’t seem to fully explain their exponential growth. In fact, when you look closely at the figures, these brands’ promotional spend is actually decreasing as a proportion of sales. This is known as the Momentum Effect, a concept devised by INSEAD professor Jean-Claude Larréché, and the Wharton School of Business.
Strategic Research is a member of the Momentum Effect Network. We believe firmly that any discussion of marketing effectiveness has to begin with an analysis of the intrinsic value of the offer. Too often, brands spend heavily on marketing to compensate for weaknesses in the product – and then wonder why the ad didn’t work.
Our work in innovation and market analysis helps brands direct expenditure to strong, compelling offers. We then use a range of tools to measure the effectiveness of marketing messages and channels, on both a strategic and a tactical level.
Understanding the customer journey to improve efficiency
The “Customer Journey” or the “Path to Purchase” consists of mapping the different stages that lead a consumer from an expressed need to the desire to share the experience, going through the critical stages of market exploration and the purchase decision.It is about mapping and understanding the interactions between brand and consumers at these different stages: the touch points, the pain points, the moments of truth, etc.
How effective are your marketing messages?
We measure the relevance of marketing messages before they are worked up into a creative campaign, and after, to assess the effectiveness of the campaign.
On a tactical level, we measure the impact, appreciation and persuasive ability of proposed adverts or advertising messages. We set relevant KPIs and follow a clear reporting method. This enables you to make a fast decision, grounded in facts.
Sometimes, a large number of messages are tested. This implies the use of more sophisticated methodologies that enable us to compare and select the best messages. We use conjoint analysis, a robust tool designed to test the performance of each message against a range of criteria. We also measure consumers’ intention to buy, based on detailed presentation of the offers and proposed pricing. The result? You have everything you need to make the right decision.
Optimize allocation of spend. Then measure your ROI.
Digitalization and new technologies have transformed the way brands interact with consumers. Ever-multiplying points of contact and sales channels, combined with saturation of mass media imply a radically different approach to marketing – and the need to make choices between different touch points.
We have developed the Touch Point Model, in partnership with ROI\Marketing, an exclusive tool to analyze the effectiveness of channels used for a market or category. It offers a key advantage: to enable the brand to compare the impact of communications initiatives using the same unit of measurement across all touch points, from in-store promotions to a TV ad, web banner or social media campaign.
The Touch Point Model offers the most holistic response to date to the complex question of marketing effectiveness across different channels.
Make sure your sales pitch stands out from the competition
In a B2B environment, marketing effectiveness depends largely on a company’s ability to provide a product or service that is markedly different from competitors’.
But it is not enough for the company to promote those differences. The pitch itself must stand out from the competition. This is as much about the strategic positioning of the offer as a communications exercise.
The method we recommend enables you to combine strategic thinking with real life sales experience. At the heart of our approach is shared knowledge and experience: we bring together marketing teams and sales teams in workshops to refine key messages on points of difference, and ensure sales teams buy into these messages and express them with confidence. The results, in terms of conversion of leads to concrete sales, are spectacular.