Re-Programming Marketing

Modern Marketing is not even close to being a stable static system; it’s constantly evolving and requires frequent evaluation and reprogramming; automation works well but autopilot does not. It takes real strategic evaluation on a regular basis to capitalize on new technology developments as well as defending against deteriorating platform performance in a hyper competitive environment - competitive for both platform distribution and consumer attention. It also takes intentional reprogramming of how marketing operates. Here are our key recommendations on how to start this process:?

1. Stop misusing platform ROAS metrics and complex attribution data. There is nothing inherently wrong with this valuable data. In the right hands, it can help skilled marketers target their media investments within a certain platform. It should not be used as a way to evaluate the strength of a brand,as a direct guide to marketing dollar allocation, or an accurate indication of potential profitability.
2. Use MER as a unifying metric that everyone can understand and track. MER ( marketing efficiency ratio) is a customized and strategic metric;? It should? be calculated and communicated in a way that helps a company achieve? specific revenue and profitability goals. As part of the Ember Strategic planning process, we work with our clients to arrive at this important balanced metric. We recommend Investors and Finance team members use this metric to evaluate the MONTHLY marketing efficiency of the organization….not as a daily or weekly activity ROI guide. Of course, the marketing team should be using this metric, plus ROAS to adjust daily activities in order to test and adjust marketing strategies in the appropriate time frame.?
3. Use First Party Data and personalized, well timed and delivered experiences to acquire and retain customers. Your segmented customer e-mail/sms list and engaged followers are the foundation of marketing efficiency across all platforms. How well you leverage new technologies to deliver relevant and profitable content is a critical competency that all brands must develop. This will enable brands to connect with shoppers in? the channels they prefer with the content and products that resonate with them…personally.?
4. Learn to capture and evaluate Quantified Behavioral Metrics. Start integrating consumer behavior based on non-platform activities like Influencer, PR and brand collaboration activities. For example, sales results can be planned for and calculated before or after a specific Influencer posting; Affiliate ROI can also be calculated and factored into the total? marketing budget.? These areas are driving significant revenue and acquisition results; how can they be ignored when developing an efficient marketing strategy?
5. Don’t minimize the importance of Product in creating Marketing Efficiency. Merchandising - the science of designing, planning and producing? products that the customer will want, when they want it - remains a critical part of the marketing strategy. It’s easy to separate this since the product tends to be on a longer timeframe with a different calendar. Coordination between product and marketing activities is the true key to profitable revenue creation.?

So, taking these initial strategic steps and creating the operating and communication culture around them, should be significant factors in building a solid path to profitability and enterprise value.?