Industry in focus - Branding and Marketing Week 1: ROI - Prove it or lose it
As part of a new in depth series of blogs, SHORTLIST is focusing on Branding and Marketing Agencies. In this, week one of four, we look at how proving Return on Investment can be the difference between new business, and no business.
Many marketing agencies can't or don't show the Return on Investment of their campaigns. Once projects are completed and the invoice paid they move on to the next, always looking for a new opportunity.
New business is what keeps most businesses afloat, but part of winning is proving what your work has already achieved for clients, and more importantly that it achieved the project’s goals.
So where do we find ROI?
Do your account managers automatically have an assessment process scheduled for the conclusion of a campaign? Do they know what they should be measuring? Do they call the customer to ask how they felt the campaign went and what they might do differently next time?
Doing all of this not only enables you to methodically collect all the data you need, but shows you care about the success of your client’s business and look forward to working together again. Assuming that you do, of course.
Here’s a few more tips to make ROI as important a part of your business as having a sharp sales team, thorough accountants or a responsive IT department.
Start from Day 1
Help your client establish realistic goals for their campaign based on comparable industry campaigns. For reference, read competitor case studies to see what figures they are claiming to have achieved.
Tie the stats to milestones
You will only achieve your goals if you the agency and they the client pull their weight. You need them to make decisions and sign-off your work in time to hit key deadlines. Clarity in both respects will ensure everyone knows why they’re important.
Tell your team
Everyone doesn’t always know the campaign’s goals. Just because it was written in the brief doesn’t mean everyone read it. If you’re looking for 5000 Facebook likes and 1000 new subscribers then write these on a whiteboard or pin them near the team’s desks. That way every task has a clear purpose.
Wrap it up
Report back to the team and the client on the campaign’s success. Even if the goals were not hit, giving an analysis of why you think this happened shows you see things through, have not forgotten about the client, and that you care about your work.
Start utilising ROI by calling a recent client for data you can use in a case study on the project.
Make this a calling card for your work, including a testimonial from the client if possible on how thorough you were and how your work directly impacted their business. The strongest case you can make as a creative agency is that your work directly increased sales for the client.
Next week we’ll be looking at briefs and why getting them right is more important than ever in a changing media landscape.
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