Of Marketing and Analysis

Analysis is one of the most important aspects of a marketing campaign.  Today, marketers have the ability to leverage many of the best practices necessary to collect data; this helps companies to analyze marketing campaigns, and make informed data-driven business decisions (Bruno, 2012).  Campaign analysis and optimization can be categorized into two categories: harvesting of low-hanging fruit, and long-term optimization (Bruno, 2012).

First, let’s take a look at the concept of low-hanging fruit.  To understand the concept, it is best to learn through example.  Imagine that a sales rep for a company is talking to a few customers, and one of those customers seems more interested than the rest; if the sales rep targets the easiest sale, then that rep is focusing on the low-hanging fruit (Investopedia, 2017).  There are a few pros, and a few cons to the method of low-hanging fruit, when the concept is looked at from a marketing analysis angle.

Pros: Cons:
–          Meet targets faster (Investopedia, 2017).

–          Easier time closing sales (Investopedia, 2017).

–          Accomplish “to-do” lists at a quicker pace (Investopedia, 2017).

–          Only so many low-hanging fruits available (Investopedia, 2017).

–          Once picked, company has to put in more effort for results (Investopedia, 2017).

 

            Essentially, if a company decides to focus solely on low-hanging fruit­, all of the other tasks have a tendency to be pushed to the wayside (Investopedia, 2017).  In the long run, the tasks that are pushed back can be harder to achieve, and therefore can impact the company in a negative way (Investopedia, 2017).  Though this marketing analysis technique has many benefits, its negative qualities prove that it shouldn’t be the sole marketing technique.

Long-term optimization, on the other hand, takes place typically after the low-hanging fruit­ method; essentially, it is a proactive way to analyze results against benchmarks and goals, which helps to measure long-term progress (Bruno, 2012).  Like the low-hanging fruit method, long-term optimization also has pros and cons that go along with it as a way to conduct analysis.

Pros: Cons:
–          Builds customer loyalty (TheMarcomGroup, 2017).

–          Will help companies to get responses and interest in the future (TheMarcomGroup, 2017).

–          Conducting research, and optimizing online campaign mixes can help in the future; the reports will serve as a foundation for improvement, and the employment of sophisticated analysis (Bruno, 2012).

 

–          Virtually no immediate revenue can be noticed with this method (TheMarcomGroup, 2017).

–          Can take weeks or months for visitors to show up (TheMarcomGroup, 2017).

Long-term optimization can be an effective method for conducting marketing analysis, but it is certainly more time-consuming than the low-hanging fruit method.  In the long term, the data collected from the long-term optimization method can be the basis for improving the overall lifetime value of customers, as conducting frequent analysis helps to identify the optimal time range/number of times that previous visitors were targeted (Bruno, 2012).

 

Bruno, B. (2012, August 31). Campaign Analysis and Optimization. Retrieved from Ebiquity: http://www.stratigent.com/community/websight-newsletters/campaign-analysis-and-optimization

Investopedia. (2017). Low-Hanging Fruit. Retrieved from Investopedia: http://www.investopedia.com/terms/s/softcommodity.asp

TheMarcomGroup. (2017, February 20). Balancing Short vs. Long Term Internet Marketing Strategies. Retrieved from Marcom: https://www.themarcomgroup.com/balancing-short-vs-long-term-internet-marketing/

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