Cost-Effective Advertising
Advertising plans and research should take 1-3 months. Many advertisers rush to market to maximize the agency’s ROI. The brand, consumer, and agency will benefit through longer plan cycles. Plan development should take 1-3 months. As a result, the business will experience an improvement in short and long-term CPA, client growth, and build loyalty. The initial cost might be higher for long plans, however, the approach yields better short and long-term success than quick plans.
Short & Long-Term CPA Impact
Short-Term
Quick to market, full-funnel campaigns might waste the advertising budget. Consumers are not always ready to convert or become loyal consumers. A person might be a few months or years away from the desirable actions. Consumers could forget the brand if shown a conversion-based ad too early because it didn’t address their current needs.
Research needs to be done at every stage of the funnel to understand consumer issues and possible solutions. Modomodo explains the benefits of one-funnel ad campaigns.
Brands might miss out on an opportunity to educate the consumer
Different metrics matter at different times
The key message should align with the customer’s expectations
The slow approach ensures brands connect with the consumer. Brands that focus on one funnel for each campaign should notice an increase in reach and efficiency.
Long-Term
The constant full-funnel and performance marketing approach doesn’t consider long-term success. The advertising approach favors metrics over ad creative and consumer connections. As a result, brands might notice issues with brand loyalty because the focus is on new consumers and the current cost per acquisition.
Repeat users typically go through the entire funnel for every brand interaction
New members never had an interaction with the brand
Companies that invest in research, ad plans, and the consumer journey typically see the best long-term results. These brands see strong brand recall, recognition, loyalty, and sentiment. Brands experience this because of the investment to understand the consumer's issues and solutions.
Client Growth Benefits
The client and agency win when a brand lasts over time. Both parties experience benefits.
Client
Established brands typically have a high brand, awareness, recall, recognition, sentiment, and loyalty. As a result, these brands should expect a low long-term CPA.
Brands gain loyal consumers over time. These brands should experience word-of-mouth advertising at high levels.
Brands that listen to consumers improve products and services. The changes help solve current consumer needs.
Survey monkey shows how data collection can reveal consumer needs. For example, Brands might focus on ‘Free Shipping’ and cost to drive consumer demand.
Agency
Client success improves an agency’s reputation. The success could generate media coverage, new clients, and recognition in the advertising industry.
Campaign success can improve and confirm an agency’s research processes.
Client growth improves an agency’s revenue. Clients that grow can afford additional advertising services.
Brand Benefits
Strong brand loyalty within a product or service community typically takes years to build. Companies that focus on one stage of the Consumer Journey at a time will create long-term brand loyalists. This approach allows the community’s current needs to reflect the campaign message. Companies that take a full-funnel approach can still create brand loyalists. However, the constant full-funnel approach typically causes loyalists to lose interest over time. Access identified 5 ways brands lose loyalists.
Increase cost without additional value
Provide poor customer service
Provide no or poor personalization
Forget about social responsibility
Don't offer a loyalty program
Brands that invest in research and the different stages can identify these issues. The research allows brands to update their campaign message and aspects of the 4 Ps of Marketing.
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