In a recent interview with Fortune, Jessica Jensen, Indeed’s chief marketing officer, explained how companies should see marketing as a growth centre, not a cost centre.
Traditionally, the emphasis has been on controlling the cost of marketing. Whereas, with recent digital transformations and a potential recession coming, the mindset, Jensen argues, has to become how can we “invest smartly in marketing to drive revenue, market share, and other forms of top-line growth.”
One of the keys to this change in mindset will be tracking data to demonstrate the impact marketing is having on revenue growth. Marketers will have to do a better job connecting these dots.
For instance, highlighting the relationship between unaided awareness and lower customer acquisition costs is an excellent way to show the value of branding.
Tracking Unaided Awareness
Put simply, brand awareness measures how much your buyer persona recognizes you. It is often used to evaluate the success of advertising campaigns.
There are two main types of brand awareness: aided and unaided awareness. The latter measures how many customers can identify your brand with little to no prompting. The former measures how many customers can recognize your brand when asked about it directly.
To measure unaided awareness, surveyors ask customers open-ended questions without directly referencing the brand. For example, “What brand comes to mind when you think of software?” The respondent might answer Microsoft.
To measure aided awareness, the surveyor would be more direct and ask, “Which of these software companies have you heard of:
This is valuable information because brand awareness, in particular unaided awareness, leads to greater lifetime value and lower customer acquisition costs.
In one survey, nearly 60 per cent of consumers said they prefer to buy new products from brands they’re already familiar with. Likewise, it should come as no surprise that 87 per cent of B2B marketers said brand awareness was their top goal.
The Data That Matters
When it comes to connecting the dots between unaided awareness and lower customer acquisition costs, DigiForce has the data-driven methods to map out a journey toward sustained growth.
As a growth marketing agency, we can identify the data that matters to ensure you’re maximizing your ROAS. And because we track everything down to the smallest details, we’ll provide you with comprehensive, transparent reports.
Ready to grow? Call 1-866-637-4202 or visit our website today to request a free proposal.