Why Outcome Marketing Is Becoming Popular Today
One reason why marketers have focused on goals that don’t directly relate to revenue-generating action is a lack of attribution from the beginning to the end of the buyer’s journey. New technology gives you the opportunity to create a more cohesive image, even when you’re working with offline and online channels.
For example, in-store beacons connected to your loyalty card app gives you deep insights on what each customer is looking at and buying when they visit your business. You can join this with your online interactions and discover which touchpoints influenced them to move throughout the journey.
How Outcome Marketing Can Benefit Your Marketing Plan
Outcome marketing is heavily data-driven, which brings many benefits to your campaigns. You can take this information to meetings and the boardroom to get more funding for your marketing campaigns, as you can directly point to the business results that were generated by your efforts.
Some types of advertising work well when you have goals that are clearly defined and quantified. For example, for a cost-per-action advertising campaign, you only pay for the traffic that takes a specific step, rather than based on views or other metrics that don’t lead directly to conversion.
When you focus on the outcomes that make your organization the most revenue or result in profitable behavior, you begin to optimize campaigns around meeting these goals. You start with the big picture goal in mind and can work backward to determine how you get from point A to point B.
Since you’re collecting a lot of data throughout this process, you also have the insights you need to optimize each touchpoint. Incremental improvements can lead to proven marketing techniques and campaigns that you can use as the foundation of your marketing efforts.
Focusing on Outcome Equals ROI
Outcome marketing tactics can fit in alongside your current campaigns, or you can rethink your entire strategy to include this approach. If you have a set method of doing marketing that’s ingrained in your organization, starting off small is a good idea.
You can suggest using a CPA advertising campaign and adding additional key performance indicators into the data that you track. Over time, you can put more emphasis on the marketing outcomes, rather than information that’s not nearly as important to a successful campaign.
The modern business world requires forward thinking and a willingness to incorporate new ways of marketing. With an outcome marketing strategy, you focus on boosting the ROI of your campaigns and getting the most out of your resources. Offline and online data sources show you the exact steps customers take and the roadblocks that sit in their way throughout the process, as well as the impact of each campaign. The next time you’re working on your company’s marketing plan, give outcome marketing the attention that it deserves.