COVID-19 has surely brought people closer. Because of the complexity of the situation, there are more ideations and calls than ever before; and turbulent times call for more open-ended conversations. I have tried to re-construct two such conversations that I came across between the business custodians and the digital marketers.
Business Custodian: I’m not able to drive enough orders in some specific cities.
Digital Marketer: Yes we’re trying, it’s just that the campaigns aren’t able to spend money despite high bids and budgets
Business Custodian: What do you think we should do in this case?
Digital Marketer: I think we should add more creatives and tweak the communication of our campaigns
Business Custodian: Ok, but that will take some time to create. Can’t we just focus on the stores in which there’s huge capacity vs orders deficit?
Digital Marketer: Well, for campaigns to deliver ads, it’s important to have larger audiences in our targeting. If we make the targeting more specific, our scale could reduce further.
Business Custodian: Right, but isn’t it possible that broad targeting might lead to ads being shown to a lot of people who are not in the serviceable areas of my stores?
Digital Marketer: Not necessarily, machine learning ensures that our ads reach out to people most likely to buy from us
Business Custodian: I see, well because of great demand, we’re tripling our order delivery capabilities from tomorrow onwards.
Digital Marketer: Great! We’ll scale up the campaigns 20-30% a day so as to ensure the RoAS metrics don’t change abruptly and campaigns don’t go in learning mode.
Business Custodian: Well, can’t we activate more channels of growth to scale up quickly?
Digital Marketer: We can, but the measurement isn’t in place for some advertising channels, so we won’t be able to measure exact transactions being driven through these campaigns and will have to rely on CRM data to determine the impact.
Business Custodian: We should pause digital campaigns now because of the COVID-19 lockdown, almost all competitors have paused theirs.
Digital Marketer: Shouldn’t we rather scale down to see what kind of response our ads get instead of pausing completely?
Business Custodian: I don’t think so, because even if our Cost per lead (CPLs) reduce because of the lockdown, we’ll not be able to drive walk-ins to our site and will eventually lose out on these leads
Digital Marketer: Well, our CPLs in the past few days have reduced from INR 1200 to INR 800 as very few brands are advertising, and every prospect who’s enquiring at this stage can be assumed as somebody with greater interest and also availability to speak to us, if not high purchase intent.
Business Custodian: That’s okay, but we’ll still be unable to bring them to the site.
Digital Marketer: Yes, but the cost of nurturing a lead for 3–4 weeks, even in these situations, is less than INR 100 per lead, so the overall cost (INR 800 + INR 100) of keeping the lead interested till the lockdown gets over is still 25% cheaper.
What do you think should be done in both these cases? Do share your point of view!
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