MODERN MARKETING
However , this again is alright . This is because the nature of my interaction with the supermarket is transactional . I buy a few items and I leave .
If my law firm , dealing with my intellectual property , tried to engage with me every week I would go nuts . I use them roughly on a quarterly basis . If they contact me about every six weeks or so that would feel about right . Similarly , if they sent me discount vouchers off my next phone call I would think they had gone mad ! My interaction with them is not transactional . It is one of advisor and partner . Therefore , it is better that their engagement reflects that position . Providing me with up to date changes in the market , white papers of trends and videos addressing pertinent issues will be much more appropriate .
The exact opposite is true of my car insurance company , which I contact only once a year . I buy insurance and then hope it does not need to be used . I do not want to hear from my car insurance company once a week or even once every six weeks . Similarly , I am not interested in white papers and videos on trends in the insurance market . In fact , seeing as I only interact with my car insurance company once per year , the most they can probably contact me is about three times in the year . Also , the way they can deliver value will have to be very different from the supermarket or law firm .
Measuring whether we are engaging effectively Once we understand how often we should engage , and the nature of that engagement , we then need to understand how to measure whether we are engaging effectively . The ultimate measure , of course , will be increased sales . This is measured by identifying with whom we are engaging and who is buying . However , aside from the transaction itself , how is engagement measured ?
Engagement should be measured by two factors ; ‘ interaction ’ and ‘ influence ’.
‘ Interaction ’ is simple . By using embedded links and tracking content , you will be able to see who opened your email , read an article or how many watched a video . Obviously , if people are not interacting with your communications they are not engaged . Having 5,000 people receiving your newsletter does not mean you have 5,000 people engaged . If it is only opened by ten people , then those ten are engaged and the other 4,990 newsletters are spam !
Measuring ‘ influence ’ is to measure how much action is taken due to the communications you deliver . Do people buy , sign up to the suggested webinar or click through to other pages on your website ? This would show that your content has not only been seen but also has spurred someone into taking another action .
Similarly , ‘ influence ’ can also be measured by how much a message is shared , retweeted , linked to , etc . This would also demonstrate that people didn ’ t just see your communications but ‘ acted ’ on them by sharing , sending to others and spreading your message . By looking at your levels of interaction and influence you can really measure the effectiveness of your engagement with prospects or customers alike .
‘ Engagement ’ is becoming one of those terms which is now so ubiquitous it is starting to lose its meaning . In my book Sticky Marketing , I stated that businesses now need to move from measuring their marketing by ‘ Return On Investment ’ to ‘ Return On Engagement ’.
Since then I have become increasingly uneasy with the term as more and more people talk about the ‘ need to engage ’ customers , without seemingly having any understanding as to what that means . Lets hope we can start to change that now .
Grant Leboff is one of the U . K ’ s leading Sales and Marketing experts and best-selling author . His first book , Sales Therapy ®, introduced businesses to a new and highly effective Sales philosophy . ‘ Sticky Marketing ’, provides companies with the new principles of marketing so they can thrive in a Web enabled world .
November 2016 ModernBusiness 49