Marketing campaign essentials: Pt.1 Introduction
Nowadays, internet marketing is affecting business development more and more.
There are many factors to this, such as:
- Businesses have to compete for user attention in the digital space;
- Users spend a limited amount of time searching for new products and entertainment on the internet (on average 2 hours);
- An active presence on social networks can show that your business is doing well;
- Two-way communication between the customer and business is important for users today;
- Internet marketing combined with sufficient in-market expertise and a dedicated set of tools can help calculate all the metrics that attract users and help the business grow.
However, in order to do everything effectively, you need to have a large in-house marketing team made up of traffic managers, community managers, copywriters, SEO specialists, brand managers, designers, and more. It all depends on what sphere your business is in and which channel is key for you. For the crypto community, community management, effective traffic buying from all digital channels, and brand awareness are all important factors. Keeping such an in-house team is quite expensive and it is not always possible to find the right specialists for your needs. It all comes down to a limited number of qualified personnel in the industry and time-restricted requests from product owners.
We want to talk about the first basic steps that can help build an effective marketing strategy. For the most part, we will focus on user acquisition.
When it comes to direct traffic buying, the first thing you should think about is setting up analytics to optimize the channels you use to acquire users and search for a product development path.
It is necessary to figure out which tools you will implement to collect statistics for further analysis. For example, if the product is for desktop, then it is likely that Google Analytics is enough. But do not forget that in addition to analyzing UTM parameters and traffic quality, an important thing is user segmentation, how and by which parameters you divide users. User segmentation can help you build conversion funnels for different cohorts, understand the picture of your audience, and provide an in-depth analysis of product metrics. All of this can be done by Google Analytics, but due to some restrictions of segmentation and building a user journey map, it’s worth using an additional analytical system for product analytics. We could suggest Mixpanel or Amplitude, for example.
The second thing you should not forget is the initial research of your potential audience. This is to identify your target audience, select the optimal channels to acquire that target audience, and select ad texts that can precisely identify and describe the problem your product solves for users.
Research can begin both by tracking competitors and feedback from them, and by tracking the general situation in the market: trends, problems that users face and how they are solved in the market.
The third thing you should not forget about is the optimization of acquisition channels. The search for new traffic channels should not stop, even for a minute. The more opportunities and places to attract users you find, the faster you will find the most effective channels and begin to optimize them. Carefully choose traffic channels with large initial budgets, because you never know if it will turn out to actually be profitable. It can simply be measured as: (1 + viral coefficient) * LTV (Lifetime value)> Customer Acquisition Cost (CAC) by each channel.
And last, but certainly not least, before spending a large amount of money on promotion, you need to make sure that users see your product just as you have planned, that they understand the value of the product and understand the problem your product resolves for them. This means, the conversion values of customers to those using your product are exactly the number that was planned and the average revenue per customer is bigger than customer acquisition cost so that your company is not working with a negative profit.
Of course, we can talk about mistakes endlessly, and the list would even include specific cases, but we wanted to talk about basic things that without, it would be impossible to build an effective marketing plan.
At Asset Rush, we’ve achieved a high-quality marketing setup due to many factors: daily staff training, a constant search for new channels, trial and error, and constantly staying updated. Contact us and we will be happy to consult with you and share our marketing insights with your project to help give it the wings it needs to fly!
