How to Generate 700% ROI from Your Digital Campaign
I was glad the projector in the client's meeting room was not working. I find it easier to convey ideas through talking rather than a flashy presentation.
This new skincare client had done a 12-month campaign with a large digital agency and the results were tragic. They had spent AED 1.2 million on the campaign and got back AED 250,000 in sales. Now they were trying to figure out what went wrong and had called me in as a consultant to understand why their campaign had flopped.
'It is all Philip Kotler's fault' I said.
As soon as I said that, I thought Vikas would get up from his seat and knock me down. Vikas was the Marketing Director of this Large Skincare Brand and like most marketers he was fascinated by Philip Kotler and The Principles of Marketing.
Philip Kotler as you know is the Father of Modern Marketing and one of Kotler's biggest contributions to the field of marketing was popularizing the idea of the Marketing Mix, also known as the Four Ps of Marketing (Product, Price, Place, Promotion).
'Your campaign flopped because it did not have the Fifth P. I know you are a big fan of Kotler, but unfortunately as those systems were developed in an earlier era it did not consider the Fifth P.' I explained.
'And what is the Fifth P?' Vikas asked.
'Look Vikas', I began 'We both know that using one common message to sell a product does not work anymore. Although your skincare ads were targeting women who want lovely skin and your ads promised glowing skin, it only got a mild response.
That's because there are women who want glowing skin for the party they are going to attend next week and there other groups of women who want to look good for their interview. While a third goup want to impress their relatives when they fly home during their summer vacation.
In online media, we refer to groups like this as Passion Buckets. Every product and service has multiple passion buckets and when you are able to identify these groups and deliver specific emotional messages to each of these groups, your ads start making an ROI'.
'So you are saying demographic targeting based on age, gender, income and ethnicity that is used by traditional digital agencies do not work anymore?' Vikas asked.
'Yes and this is where the Fifth P or the Passion for a product or service comes in. Without identifying your Passion Buckets and having emotionally driven ads for earch bucket, it is impossible to generate 700% ROI from your digital campaign.'
'So what you are saying is that if we had broken down our marketing messages based on passion buckets and served different ads to each group, our campaign would have been much more successful?' Vikas challenged me.
'Yes and to give you another example, if you are a dental clinic using an ad with a model flashing nice smiling teeth - it won't be effective. If you do your research you can see Passion Buckets which consist of young executives who want white teeth to look professional in their meetings, while another bucket could consist of teenagers getting ready for their graduation day and a third bucket would be boxers worried about losing teeth in a tough boxing round.' I explained.
'I kind of like the Fifth P, tell me how you are going to use this amazing discovery to generate 700% ROI from our digital campaign?' Vikas was looking more receptive now.
Just when I opened my mouth to explain the next set of secrets, a group of people entered the room. They were here to repair the projector. We had to stop our conversation till they had left the room.
Vikas was restless, but he knew he would have to wait to get all the secrets out of me. After all, no one had ever shown him how to get 700% ROI from a digital campaign and he knew the wait would be worth it.
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