Using Data to Meet Marketing and Advertising Budget Expectations: Ask Gwen

Using Data to Meet Marketing and Advertising Budget Expectations: Ask Gwen

During this challenging time, many businesses are reworking their marketing and advertising budgets. On top of campaign budget constraints, many companies are looking for ways to streamline their customer experiences and keep up with changes in consumer behavior. Data, like location intelligence, is a great tool for marketers and advertisers to ensure that you are staying on budget while still meeting customer expectations.

In this month’s column, I answer your questions related to using location intelligence to keep within your marketing and advertising budget.

Q: Dear Gwen, Like many businesses, coronavirus has reduced my company’s overall marketing and advertising budget. I’m thinking of creating a new ad campaign to inform my customers about changes in their shopping experience. How can I make the most of my budget?

Sincerely,
Concerned Colin

A: Dear Colin, I’m glad to hear that you want to keep your customers informed about changes. Before you launch your ad campaign, it’s important to create a solid advertising and marketing strategy. Let’s polish up your strategy and really make your campaign shine (and stay within your marketing and advertising budget).

As you look at your customer data, you need to ask yourself the following questions: 

  • Who are your customers? 
  • What demographics do they tend to fall into? 
  • What do you think their interests might be? 

Once you have a good idea of who your customers are, you can develop buyer personas. Location-based personas are created based on the stores, restaurants, and events consumers frequently go to and their interests. These personas translate into audiences you can choose to use in your new campaign.

When you know that your customers span a few core audiences, that’s the best way to get started. Testing your advertising audiences ensures that you are reaching the right customers. It can also help you focus on the best audiences for your campaign. By understanding what audiences you need to reach with your ad campaign, you can feel confident that you are not wasting your advertising dollars reaching the wrong customers.

Gwen

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Q: Dear Gwen, I recently launched a new customer experience – a contactless pop-up shop. I’ve received some feedback from my customers and I’m ready to start improving the experience. But, I’m not sure where to start. How can I improve my customer experience while still staying within my marketing budget?

Sincerely,
Pop-Up Piper

A: Dear Piper, Receiving feedback is a blessing in disguise. Knowing what went wrong gives you a chance to fix it. Here are a couple of questions that can help you improve your customer experience while staying within your marketing or advertising budget:

Is the location of your pop-up affecting your customer experience?

When considering locations for your pop-up shop, you probably thought about the amount of foot traffic on the street. While you should strategize for visibility to attract passersby, you should also think about the accessibility of the location. Is there public parking nearby? Is it in an area that many people normally visit? Take a close look at your customer journey: this provides information about where your customers go before and after they visit your pop-up shop. If your customers are going to a winery or brewery, then you might want to consider moving your pop-up experience to that site. You don’t want to waste your budget on a location that isn’t driving revenue.

Does your experience fall short of the wow factor?

A pop-up provides opportunities to make sales, but its greatest value is in the loyalty you can build: driving traffic from the pop-up event back to your permanent retail locations or e-commerce site. A visitor who has a great experience and feels a positive association with your brand will be more likely to return as a regular customer. Think about simple, cost-friendly ways to give customers that wow factor. Can you create a loyalty program that gives your customers early access to new products? Also, if your pop-up merchandising, signage, or activities don’t reflect your brand, the people who visit your regular locations afterward might feel like they’ve been hit with a bait-and-switch.

Did someone feel frustrated because they didn’t find out about your shop?

A well-crafted marketing and advertising strategy is key to ensuring that customers who might be interested in visiting your shop know your location and operating hours ahead of time. There are many budget-friendly ways that you can use to create buzz. For example, marketing behind-the-scenes images of your shop. This is a great way to drive interest and provides another avenue to remind customers where it is and when it is open. This will also give customers an idea of how your pop-up experience works. You can even use location data to find potential partners who can host your pop-up shop, or find sponsors to help defray costs associated with the experience.

Gwen

Have a question for me about location intelligence and customer insights? Email your questions to [email protected] with the subject line “Ask Gwen.” I’m looking forward to hearing from you.

Talk with a Gravy Analytics sales representative to learn how location intelligence can benefit your business.

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