article | January 20, 2014
The Ultimate Cheat Sheet for Campaign Offers
B2B CMO’s are focused on driving revenue into the pipeline. Success is largely determined by the quality of campaign offers. Yet there’s little attention within marketing teams on developing quality offers.
Every CMO is looking for ways to increase performance. Optimize campaigns at the offer level to increase campaign results. Even a small change in conversion effectiveness can change a failed campaign into a robust ROI.
DMA studies show Offer is the #1 determination of success for customer marketing. This impacts all campaign elements such as email, digital ads, and adwords.
CMO’s can impact short-term results by assessing the quality of campaign offers.
Marketing plans are well underway. Chief Marketing Officers are monitoring their team’s campaign metrics as a leading indicator. Click metrics are presented by the marketing team without much dialogue about the Offer. Most dialogue is about the copy, creative and CTA button.
Research shows the quality of the creative is a distant #2 in influencing outcome. Yet every CMO knows their team spends 20x the hours on creative development. The attention on creative development is all consuming.
The ‘Offer’ or CTA (Call to Action) plays a major role and is albeit ignored. Offer planning is a tactical detail that is delegated down to the execution level. It’s often an outcome of creative development.
When executing creative the marketing team invests high effort. Creative Briefs are written and creative presentations are pitched. The campaign pitch is revised, revised, and revised again. Most often the offer stays the same throughout the revision process.
Attention is spent on the CTA button and copy, but not the offer itself. CMO’s can lead their team to greater results through Offer improvement.
Strategic Offer Assessment
The lack of attention to the CTA offer is a blind spot for most marketing organizations. The Call to Action in this blog is visually attractive and promises value. The content surrounding the CTA seeks to drive interest. But that’s not enough. The offer itself has to be compelling. In this example, the downloadable tool includes valuable intellectual property. CMO’s can use the tool to drive increased performance.
Download the Offer Strategy Assessment tool to drive higher campaign conversions. Use the tool as a brainstorming resource to assess your offers. The assessment provides you with varying lenses to evaluate and improve the offer.
The Role of Offers in Prospect Marketing
When marketing to prospects, the Offer plays a major role as well. Quality of the list is the #1 determination of success for converting prospects. The Offer is still an overwhelming success factor well above creative execution.
Offer Assessment Relevance to CMO’s
Here is just one example of the questions and why they are important to assess;
Competition Lens: Do you know what offers your competitors are providing?
This has major implications depending on the campaign activity and your relative position. When encountering a competitor with a similar offer you have to develop a strategy. You can go head-to-head or try to outsmart them.
This happened with one of my demand generation clients. I met with the client team and we recommended to the CMO a strategy to neutralize. We decided to ‘give away’ the competitor’s offer and we differentiated a new form-fill offer. This strategy also extended to outside sales. We encouraged the sales reps to flood the industry with the competitors offer (a Gartner white paper). The net result was increased conversion rates. We never were able to get insights into the competitors drop in conversion, but it must have impacted them.
In summary, download the Offer Strategy Assessment tool to drive higher conversion. Close the gap on the most common blind spot in Fortune 500 marketing teams.
© 2017 Sales Benchmark Index (SBI)
A Business Strategy Consulting Company
2021 McKinney Avenue, Suite 550
Dallas, TX 75201
© 2018 Sales Benchmark Index (SBI), B.V.
A Business Strategy Consulting Company
Cornelis Troostsraat 29
Amsterdam, The Netherlands