Do you remember back in school, when the teachers said that one day you will need specific math skills and you jubilantly agreed and paid close attention to each element that they were teaching? Yeah, me either. However, as time has progressed the fundamental base that we learned in elementary school applies to business marketing on levels I could never has appreciated when I was busy worrying about how quickly I could drink my chocolate milk at lunch. Business marketing has evolved from a standardized 3-ring binder with tabs like: tradeshows, yellow pages, radio, etc. into a comprehensive model which gathers tremendous amounts of traffic through a variety of channels, aptly referred to as “Big Data”.
Big Data can refer to a variety of things; Facebook gathers emotional data based on how their users respond to ads based on location, size of image, amount of text, etc. They have perfected the model for their business and have been rewarded with record ad revenue. However, businesses that can tap into the Facebook marketplace and user base can also see a huge boost in traffic and with the right strategy, revenue. Yes, I said you can increase your revenue based on the traffic increase – but it will take some serious review of the data you are capturing.
Running an ad campaign is simple these days, same as sending out an email marketing campaign. You can set it up in a matter of minutes and press the send or publish button. Boom, you have delivered your message to hundreds, thousands, possibly hundreds of thousands of adoring fans! However, did you message get consumed and generate traffic and revenue and how will that impact the next campaign you run and on another channel? There is a huge marketing channel block available today; Google Adwords, Bing, Facebook, Adroll, Content Syndication, PR, Email Marketing, etc. There are so many, often businesses must choose based on their available budget. So how do you even know what is working, or more importantly – creating the most value for the money you are spending?
Well, this is where math comes in. You may have thought that the last two paragraphs would clear you from reading into the complexities and that we would have some amazing magic bullet that solves your online marketing strategy needs. Well, we kind of do. Our team models factors; what, what!? Factors – or facts… Yes, we lean into understanding each element. We are going to outline a simple strategy that our team uses for email marketing – our hope is simple. 1. This will give you insight on your existing campaigns and how you can influence your users with the next one. 2. You will give us a call and leverage our teams experience and knowledge to help influence your overall marketing strategy. Yes, our team is a bunch of mathematical nerds with a desire to find the lowest hanging fruit as well as the most profitable.
Email Marketing factor based strategy
Email Marketing has become a VERY and TOO common tool used in many online marketing strategies. I have literally heard everything from the need to send an email every day, to one a quarter. The reality is… Both are right. But it will depend on the business, the product or service and the audience. So, let’s go on a fact gathering mission. Our team collects the following data on every email we send: Date, Time, Subject Type, Content Type, Content, CTR, Open Rate, Bounce Rate, TTL, Unsubscribe, List, List Type, Website Traffic, Leads, Sales. Yeah, that’s a lot of data – in fact that is 15 factors that we measure. Then, let’s get really crazy… Let’s do the math! If you were to review each factor we can find that we have some crazy math or defined iterations that can be produced. Date : M-F, Time : 24 Hours, Subject : Typically stick to 4 types, Subject Type (teach, fear, scarcity, sell), Content Type (teach, fear, scarcity, sell)… I think you get the point. To generate a simple iterations model – we simply multiply this out:
5 x 24 x 4 x 4 x 3* x 2* = 11,520 email variations (*this equation is based on just one working example – we can clearly generate far more). So we can use a true full factorial design model and send out 11,520 emails, but that could take some time. Or, we can build block of factors and build a trending model. This is done by tracking data over time and building some experienced assumptions. We can deliver and track M-F am vs. pm. We can review subject Type and List Type and Open Rate, ultimately building a massive library of data over time that will begin to tell a story.
That’s it folks, the end result; Tell a story. If your online marketing strategy and all of your marketing channels are setup to help tell a story, you will begin to gain the traction needed for your business. However, there is no set and forget model. Trends change, buyers change, seasons change… If you are watching what works and modifying your strategy over time and adjusting to improve how potential customer respond and engage your marketing – you will win. Our team really enjoys this stuff; we have a group of people and custom in-house software which was design to help our clients win. If you are looking to focus on the business side of things and want to hire a professional team to help manage your online marketing, we would love to chat and learn more. There is no doubt that every strategy that is currently in the market can benefit from our model and style, we look forward to the opportunity to show you.