Maximizing Advertisement Conversions
“In order to Maximizing Advertisement conversions we must follow and embrace our customers.”
The Consumer, today, has many options and opportunities to choose.
Anyone who fails to capitalize on exposure opportunities to customers and possible customers, so that they can identify themselves may run the risk of seeing their brand overpowered by another.
The market continues to grow and with its growth and dynamics come greater profits, but also constant challenges that companies and marketers have to overcome, simply because the customer does not forgive and even questions its loyalty to a brand if it does not meet his wishes or if the competitor delivers exactly what they are looking for.
Consumers increasingly demand the presence of brand material throughout the different communication channels, and that these are current, relevant and contextualized.
In the end, a better and better “tailor made” consumer experience.
Differentiation is done by the local adaptation of communication without exhausting the marketing communication budget and without overloading the creative teams.
The great challenge of the marketers is to present contents that can meet all these requirements, equating geographic, linguistic, cultural and local preferences.
According to Marketing Props, 50% of the targeted audience ignores communication that is not in the native language, uses local jargon, or does not make any cultural reference.
The question would be easy enough to solve if the market is homogeneous, but it’s not.
The problem arises precisely when we want to communicate the creativity of the brand on a global scale and then adapt that same global message to each local specificity while maintaining the same content and line. This, as we all know, is extremely costly, extremely time-consuming and causes great pressure on agencies and creative teams who have to conceive of all this material in time (also, increasingly scarce due to the dynamism of the market)
Only 30% of US CMO’s ensure that their business is prepared and perform they communication well, globally and locally.
We are facing a dilemma …
Continue to spend on global campaigns and “pray” for communication efforts to be fruitful or to start investing, locally, effectively and without wasting so much on volume by betting on quality in order to get more revenue.
In the end, everything will be summed up to numbers, but all marketers should consider and test this new approach, since it is the one that is being adopted by most of the big companies, leaders of their markets.
And as we all know, the first to adopt will always have a temporary competitive advantage over competitors.
What’s the use of doing a global campaign, getting a low CPM, if there are no effective views and interactions with the ad?
I do not need to say anything, do I?
How can we respond to this new market requirement?
- Do not rely solely on 1 creative agency and hire local agencies to ensure better results.
Long gone are the days when a single agency handled all of the company’s communication materials and with the coming of digital media the trend of working with multiple partners has accelerated further due to a growing need for content to be produced.
Today, only 13% of CMO’s work with only one creative team, and most work with local agencies in different markets to deliver the most suitable communication to their customers.
- The old BenchMarking never fails.
Find out what other companies are doing, if they already use this strategy,
How can I apply this to my company and my business?
What are my competitors are doing ?
No one in my market doing anything like this?. Great! I’ll be the first and grab this opportunity.
- Choose the right agencies and teams and let the numbers speak.
Most companies (49%) only allocate 5% of the budget for cultural and local adaptation (USA), this happens most of the time not only because of the need to control the costs but also because of the certain mistrust of the local teams in making a good job and, in the case of local physical communication, they cannot measure properly the work of the agencies.
Thus, once again, choosing the right partners is assumed to be vital to the success of this type of campaigns.
One of the main challenges to local adaptation is the uniformity of communication, as well as time, since communications and actions have specific timings that are difficult to conjugate in all channels (digital and traditional) with the appropriate adaptations.
Only 17% of Marketers claim to be able to have all the operation flowing and deliver all communication simultaneously on all touchpoints. The rest assume they have to wait weeks or months to deliver the physical communication. (USA)
Only now companies have begun to become aware of this phenomenon, but this strategy has been used for a long time by the politicians who make their national campaign, they take a tour of the different districts and cities to expose their program adapting and focusing more on that particular town in order to persuade the electorate.
What is the difference?
“Nothing should be left to the wind when the goal is to maximize advertising convertions.”
João R Freitas.