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Marketing Return on Investment with GROW

Posted by & filed under Business.

What is Marketing ROI?

This elusive metric can be complex to capture and measure. According to a recent Hubspot analysis, it is a tool that marketers can use to maximize their investments and connect with customers. According to Meltwater, it’s the profitability of your marketing efforts.

The reality sits between the two. Your marketing ROI is a metric by which you can tangibly measure the financial value of your campaigns against customer engagement, strategic objectives, yield, market growth, and sales.

ROI is important to measure because it provides clarity into your marketing strategy and its effectiveness and allows you to refine individual campaigns to better align with onging strategic objectives. Using ROI, you can unpack how well a campaign performs in which channels and how well customers across multiple touchpoints and channels engage with each campaign and brand. It also allows you to understand the profitability of your campaigns against these channels and to refine resource allocation, strategy, and spend.

How do you measure and improve your marketing ROI?

Calculating your ROI depends on the business, the market, and your expectations, but a solid strategy is to divide net profit or loss by the total marketing spend and then multiply by 100 to get a percentage result.

You can also subtract your sales growth from your marketing costs to assess your marketing ROI or subtract organic sales growth from overall sales growth, as expressed in this well-known formula

(Sales Growth – Marketing Cost) / Marketing Cost = Marketing ROI 

In some cases, sales growth is not directly linked to marketing spending, and the following formula eliminates organic sales growth from the equation. 

(Sales Growth – Organic Sales Growth – Marketing Cost) / Marketing Cost = Marketing ROI

However, a formula is only one part of the ROI equation. You also need to measure your marketing ROI against goals and objectives that reflect how your organization perceives success. One way of doing this is to use the SMART framework that asks you to assess marketing spend and return on that spend against the metrics of: Specific, Measurable, Achievable, Relevant, and Time-Bound. These steps cover everything from increasing ROI on social spend, to putting measurable criteria in place, to budget constraints and a clear timeline for achieving your goals.

Then, ensure that all the insights you gain are used to drive future strategies built on the foundations of trusted data and visible metrics.

The challenges of measuring marketing ROI

The problem with most marketing ROI metrics and measurements is that they rarely take in the whole picture and often result in shaky results that don’t reflect the value marketing has gained or the impact it has had. Most marketing metrics are too simple and ignore the multiple external factors that impact a campaign, such as seasons, trends, and events; plus, they often focus on short-term results and don’t fully align success against the entire duration of a campaign.

Another challenge is that the marketing landscape is omnichannel, so customers hurtle through multiple touchpoints before they purchase. This means that often their route to sales is hard to track and difficult to quantify.

What is good marketing ROI?

 If you want an exceptional ROI metric, then you are looking at 10:1, but the average is around 5:1, with anything less than 2:1 falling well below par. This ratio is established using the formula outlined above and assessing the results against overall marketing costs such as overheads, margins, marketing spend, omnichannel investment, brand development, and more.

Why use this ratio? Because it is a very immediate and visible way of assessing marketing activity and using the insights to tweak campaigns and spend appropriately.

Why pay attention to marketing ROI? Because here lies a wealth of information and data that you can use to transform your marketing spend and its success rates. Information can help you optimize your channels and refine your approaches, which can help you constantly tweak and shape your campaigns to achieve sustainable success.

In Part 02 of this series we dig deeper into marketing ROI and the different methodologies, approaches, and strategies you can use to make your marketing spend work for you.

 

GROW is a full-service marketing agency passionate about helping B2B companies achieve their goals.

Contact us here to learn how we can help you transform your marketing ROI.

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GOARC’s marketing & brand presence revitalized with GROW’s B2B content capabilities

Posted by & filed under Case Studies.

Challenge

GOARC collaborated with GROW to develop a vibrant and cohesive strategy with carefully curated messaging that would allow it to stand out as a trusted service provider and innovator in a very traditional market. GOARC blends the latest technology and tech terminology into solutions that address specific pain points for companies operating in industrial environments. However, the market can perceive this as too complicated or threatening.

The sector that GOARC serves has long relied on manual or time-consuming processes built on legacy technology that’s limited in scope and functionality. However, this reliance makes many companies reluctant to step out of their comfort zone – worker and site safety are absolutely critical, and companies don’t want to introduce unnecessary risk. This concern meant that GOARC and GROW had to find an intelligent way of establishing the brand’s capabilities without triggering these pain points.

  • The two companies decided to frame the technology and the smart solutions created by GOARC in a fresh and transparent way, using clear language that informed and advised but didn’t overwhelm or over-complicate. The brand identity, tone, and messaging were then developed in alignment with this objective and ticked the boxes of: straightforward, relevant, simple, and benefits-driven.

Solution

GOARC created a cohesive marketing and branding strategy that aligned with the market’s unique perceptions and brought them together with the GROW service offering. The result was a comprehensive branding exercise that included:

  • Simple and straightforward language and tone
  • The GOARC value proposition and technology innovation framed within the right language
  • Messaging crafted to suit the industry and the solutions on offer
  • Content marketing strategy that included blogs, whitepapers, and PRs to cement GOARC’s reputation and standing
  • Website marketing strategy to reinforce the messaging and brand identity

Results

The GROW ethos of high availability, service, and professionalism ensured GOARC achieved its communication and market penetration goals. The website is bright and engaging with crisp messaging, and clear sales points and content has been regularly curated to address particular industry pain points and GOARC solutions. In addition, the content and website strategies are aligned to ensure that every GOARC touchpoint is consistent across the digital ecosystem.

Today, GOARC and GROW continue to collaborate on a cohesive marketing strategy that evolves alongside market demands and perceptions.

Testimonial

“GROW has done an excellent job crafting engaging content for all our marketing needs. Their team deeply understands the market, they do their research thoroughly, and the daily communication and collaboration are as smooth as possible. Excellent service, very good content and deadlines are never missed. We have built a strong online presence and engaged with the sector in fresh ways thanks to this relationship and look forward to continuing this partnership well into the future.” – Jude Liemberg, Marketing Director of GOARC

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Is Your Marketing Budget Sufficient to Fuel Your Growth?

Posted by & filed under Technology.

Marketing Future is Bright

According to Gartner’s Annual CMO Spend Survey, The State of Marketing Budget and Strategy 2022, the marketing future is bright. Following record lows in 2021, 2022 marketing budgets as a percentage of company revenue have climbed from 6.4% to 9.5% despite a wide range of negative global factors, such as inflation, COVID, supply chain hiccups, and Russia’s invasion of Ukraine. In fact, most CMOs who participated in Gartner’s survey expect these external factors to positively impact their strategy and investment in the upcoming year. This data is aligned with the August 2021 CMO Survey, which shows marketing spending growth returning to pre-pandemic levels and an optimistic outlook for the next 12 months. The latest IPA Bellwether Report also concurs, reporting that 14.1% of companies increased their marketing budgets in Q1 2022, bringing it to the highest level in eight years.

Marketing Budget: How Much to Allocate?

Marketing budget as a percent of total revenue varies widely by industry. According to the CMO survey, the B2C product sector allocates an average of 13.7% of revenue to marketing budgets; the B2B product sector allocates only 6.7% of revenue to marketing spend.  Gartner indicates that the highest marketing spend increases can be found in the financial services industry (10.4%), the travel and hospitality industry (8.4%), and tech products (10.1%), while consumer goods companies have decreased their budgets from 8.3% in 2021 to 8.0% in 2022.

Where to Focus the Marketing Budget?

If you’ve turned your attention to digital channels, you are in good company. According to Gartner, 56% of marketing spend is allocated to digital channels. Of these digital channels, reports show that 29.5% of marketing budget was dedicated to website, email, and mobile channels. Social media and SEO spend followed.

 

Here’s how Marketing Leaders focused their marketing budgets in 2022:

Marketing Spend on Email Marketing

The reason so many marketing leaders planned to channel their marketing budget toward email marketing platforms, is because the relatively low cost of email marketing traditionally delivers the highest ROI: $36 for every $1 spent. That means companies receive 36 times every dollar they invest. A no brainer for any marketing leader.

In addition, email marketing technologies and automation are helping companies better segment their target audiences and achieve better results. Even simple automations — such as sending an automatic welcome email when someone subscribes to your list, or sending an email reminder to renew their contract  — help you nurture relationships and keep more customers.

Marketing Spend for Events and Sponsorship

Beyond digital channels, additional marketing investment in traditional channels is necessary. As most of the world relaxes its COVID restrictions, investments in offline channels are rebounding. One area of growth in the offline channel is events and sponsorships.

During the pandemic, events and sponsorships disappeared from the marketing mix. With social distancing essentially a thing of the past, in-person events – such as trade shows — are back in full force. According to Gartner, in-person events account for almost 20% of total offline spend, and even slightly more when it comes to B2B companies (21.9%).

In-house or Outsource Marketing Budgets?

  With 58% of CMOs reporting a shortage of talent that hampers their ability to execute their marketing strategy, an increasing number of companies are choosing to outsource their marketing activities. Partnering with an agency gives your business an edge as you will benefit from having an objective perspective and fresh ideas about your product or service. No matter how talented your internal team, their knowledge base is limited to what they know. However, an agency’s years of experience and exposure to industry best practices will help you hone your strategy and find the right selling points to highlight to stakeholders and customers.

In addition, proper creative materials and branding are essential for success when trying to stand apart in a busy marketplace. So is a robust content strategy. An in-house marketing team offers limited capabilities, while a full-service agency can handle digital marketing and SEO, content strategy and creation, social media management, trade show marketing, business plans and proposals, video marketing, and so much more.

Plan for Success with the Right Marketing Budget

The optimistic marketing outlook is good news for businesses that hope to thrive in uncertain economic times. Channeling funds to your marketing budget can ensure that your unique business goals are met through robust marketing campaigns. Enlisting the help of a professional marketing agency can help you get the right message to the right audience through the right (online and offline) channel at the right time.

GROW is a full-service marketing agency passionate about helping B2B companies achieve their goals. Contact us here to learn how we can help you drive qualified leads, increase conversion rates, and nurture sales opportunities.

Maris launches global presence with GROW’s B2B capabilities

Posted by & filed under Case Studies.

Challenge

MARIS TECH was establishing a name for itself on the defense market and was heading towards the initial public offering (IPO) phase on Nasdaq as well as preparing to launch an exhibit at the Association of the United States Army (AUSA) 2022 Annual Meeting and Exposition – one of the largest military exhibitions in the United States. However, the company had not developed its branding and had no marketing assets or materials to present at the event. The company had to build its brand and to prepare all the materials required for both the IPO and the event in just under five months, and approached GROW to provide hands-on branding advisory, support and asset deliverables.

Solution

GROW created a cohesive marketing and branding solution that encompassed all the essential elements and required materials, on time, and within budget. In close collaboration with the client, GROW created a full branding bouquet that included:
  • Logo design and development in close alignment with the brand and its ideals
  • Icons, fonts, image and color development to ensure brand consistency
  • An investor presentation
  • Full website design and development
  • A corporate video
  • A comprehensive content marketing strategy and portfolio inclusive of company profile and product outlines
  • Exhibition design, collateral and material development

Results

The GROW ethos of high availability, service and professionalism ensured that MARIS TECH achieved every one of its marketing and branding objectives in record time. The exceptional standards of the content, video materials, and assets ensured that the company was presented in the most professional and engaging way possible. The IPO was a success and MARIS TECH is now listed on Nasdaq, and now the company has secured GROW’s services to add on an IR section to the website and to expand its content portfolio.

Testimonial

“We were concerned that we would not be able to achieve our content marketing and marketing collateral objectives in time for both the IPO and the exhibition, but GROW proved us wrong. The team is professional and responsive, and ensured that our materials for the tradeshow, the branding and design, and the entire process were as seamless and engaging as possible. .” Israel Bar, CEO of MARIS TECH.

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Comprehensive branding at Startup Speed

Posted by & filed under Case Studies.

Challenge

As a new company, OpenD wanted to build an accessible marketing portfolio that would allow for the all stakeholders to gain instant visibility into its goals, value proposition, business strategy, product offering and more. For OpenD, it was important to create materials that would showcase the company’s fresh and innovative approaches to data and analytics, and that could be used to engage with customers and stakeholders in the future.

 

The challenge was, in just three weeks, to create a vibrant portfolio of marketing and branding materials for an internal company conference that was intended to introduce all stakeholders to OpenD’s strategic and marketing ambitions so it could gain approval and move to the next level of its growth and development.

 

To achieve this seemingly impossible task, OpenD contracted GROW to provide hands-on branding advisory, support and asset deliverables.

Solution

GROW’s multi-disciplinary team collaborated closely with OpenD to create an imaginative, smart and cohesive branding and messaging pack that included:

  • Logo design and development in close alignment with the brand and its ideals
  • Infographics and brand messaging: Icons, fonts, images and colors’ development to ensure brand consistency
  • Full website design and development
  • Content marketing
  • Product marketing slide deck & brochure

Results

The GROW ethos of high availability, service and professionalism ensured that OpenD achieved every one of its marketing and branding objectives in time for its internal stakeholder meeting. The exceptional standards of the content ensured that the company met with the board, achieved its approval, and is now moving to the next phase of its exceptional growth.

Testimonial

“We weren’t sure it would be possible to create such a comprehensive branding and marketing portfolio in only three months, but GROW proved us wrong. Not only did we get everything we needed for our internal conference, but it was delivered to exceptionally high standards.” – Zev Morgenstern, CEO of OpenD.

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Strategic Branding and Powerful MarCom Yields Results

Posted by & filed under Case Studies.

The Challenge

GROW was tasked with delivering high-impact branding of GAP600’s entire look and feel. The scope included designing a new logo, creating a tagline, company brochure, PowerPoint template and business cards, as well as planning, designing, developing and launching a new website that would optimize lead conversions. GROW was also fully responsible for generating GAP600’s graphics-based assets, such as high-level architecture, are presented in a clear and self-understood manner.

Solution

GROW’s experienced team of graphic designers created a distinctive logo using fresh colors and clear lines to serve as the basis of all new branding items. The team researched competitors’ sites and strategized how best to help GAP600 stand out as a leading player in an emerging market. GROW engaged in all aspects of the website’s development, including sitemap planning, wireframe creation, design concepts, coding, testing and finally launching a fully operational and targeted website. In tandem, GROW’s professional content writers collaborated closely with the client to ensure the site messaging was in line with industry terminology and contemporary buzzwords.

Results

Outstanding teamwork between designers, programmers, copywriters, and project managers led to the project’s smooth progression and ultimate success. GROW delivered an eye-catching logo, compelling MarCom content, and a vibrant and robust website, fully customized to support GAP600’s unique look and feel.

Testimonial

“GROW transformed our marketing from fine to fabulous. They partnered with us from the beginning to craft our messages and uplift our look so that our branding and website would stand apart in an increasingly crowded market. Recommended!” – Daniel Lipshitz, Founder & CEO of GAP600

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Minimum Viable presentations: 5 must-have ingredients for your investor pitch

Posted by & filed under Construction, Life Style.

The popularity of TED talks has given way to a new science – the science of attention grabbing.  Most listeners tune out after the first 20 seconds, and most investors hear multiple pitches each day. At GROW CORP, we’ve learned a few attention-grabbing tactics along the way that we want to share with you.

Do not waste time with dramatics or keep the audience in suspense; investors won’t wait around for you to get to the point.

Investors expect clear and concise answers to the following questions:

  1. WHAT: What problem are you trying to solve or what opportunity have you identified? Give an estimate as to the size of the opportunity.
  1. HOW: How are you going to solve this problem or address the opportunity? What combination of technology, human resources and capital are required to develop a solution?
  1. WHO: Tell them why they should choose you to do the job. State your experience and credentials. Don’t be shy, be honest and to the point.
  1. COST: How much money do you need to solve the problem, and how will the funding help you reach significant business milestones?
  1. SALES: How much will customers be willing to pay for your goods or services and how are you going to market and sell your offering and how will you monetize its value?

You should be able to communicate the basics in 5-10 minutes. Prepare a shortened ‘elevator pitch’ version of your speech in case the investor indicates that he has less time. If you’ve made a compelling case, they’ll likely ask you more questions at the end.

Follow up with professional materials to provide more details and to support your pitch.

Contact Grow for a free consultation and together we will upgrade your pitch. Whether you need content marketing, business plans, branding guidance, digital and video marketing, or tradeshow preparation, our strategic advice has helped many businesses, from both start-ups to established multi-nationals around the world. Now, let us help you.

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Retain Relevance: Take a long hard look at your content Your are here

Posted by & filed under Healthcare, Life Style.

The time has come!

Fourth quarter is the ideal time to refresh your marketing materials. Take a hard look at your logo, website, brochure, corporate deck, and any other collateral materials you have.  Just as you are no longer wearing bell-bottoms or using a flip-phone, you should not be using the same marketing materials that you’ve used when you started your business.   If your materials look dated, it’s time to refresh.

Re-define your “who” and your “what”

Take a step back and determine the “who” of your brand. Articulate your value-added proposition and clarify what distinguishes you from the competition. You should be able to clearly state why someone would choose to do business with you and what is unique about your offerings. Then create the collaterals to reflect the newly defined you.

Update your messaging

Make sure the language in your messaging is up to date, and try to reference contemporary issues and industry buzzwords. Remove any outdated jargon or phrases that will clearly tarnish your marketing  and your brand  as outdated and irrelevant. Professionally-written, to-the-point marketing collateral will make the right first impression, and build trust in your values and quality of your products or services. If the content does not resonate with your audience, even the most aesthetically pleasing materials will not bring results.

Incorporate a physical-digital mix in your strategy

Well-written and beautifully designed print materials can be coupled with online marketing mediums to deliver a well-rounded MarCom strategy. Have brochures point to mobile-friendly websites and social media platforms, incorporate QR codes to let users scan marketing assets with their smartphones, and link slide decks with video campaigns.

Catch your customer’s eye

Make sure your collateral will cut through the noise of the competition, grab the attention of potential customers, and project a vibrant image to your current portfolio. Headlines and images must be engaging and the content itself should be presented in an easy-to-read and compelling layout. All marketing collateral – whether brochures, websites, one-pagers, emails, infographics, videos, slide decks, etc. – should be consistent, both in language and design. Every MarCom piece should showcase updated images, have a fresh look-and-feel, and convey a clear and consistent message.

Constantly track the competition

Paying attention to your competitors’ marketing messages will give you a good view of your industry’s marketing landscape, and help you craft messaging that will stand out. Once you determine who your direct competitors are, collect their marketing materials and identify both their positioning and target market. This will help you map the competitive landscape, and pinpoint openings that you can exploit to your advantage.

Contact Grow for a free consultation and together we will refresh your brand.  Whether you need content marketing, business plans, branding guidance, digital and video marketing, or tradeshow preparation, our strategic advice has helped many businesses, from both start-ups to established multi-nationals around the world. Now, let us help you.

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5 Essential Steps to Developing a Killer Content Marketing Strategy

Posted by & filed under Video.

So should you grab that keyboard and start writing? Not so fast. A good strategy is just as important as the content itself. A successful strategy can transform random content into an effective results-driven effort that leads to a positive ROI. Here are 5 steps to take to ensure your content will convert.

  • Consider your avatar – Take some time to consider the different types of people who make up your target audience. What issues are important to them? What makes them tick? Are there topics or keywords to avoid? What communication channels are they active on? Every piece of content should be created with your audience in mind.
  • Keep your branding consistent – Make sure your content ties in with your brand. Whether your brand is uber-professional or quirky and fun, your content should match that tone. Ensure the tone is consistent across all your marketing efforts, including your website, online marketing, email, trade shows, direct mail, and other promotional activities.
  • Set up a content calendar – A common mistake among content marketers is communication drop-off. The team may be gung-ho at the outset, but loses steam after a period of time, causing changes in communication frequency and missed opportunities to connect with your audience. Set up a content calendar with clear deliverables and publish dates. Be sure to set specific goals for each content piece and determine quantifiable metrics that align with those goals.
  • Write, write, write – You can be sure that your audience is inundated with content from multiple sources, including the competition. Make sure yours is worth reading. Your content needs authenticity and relevance, so make certain you are highly knowledgeable about the subject matter. Research original content on topics you think would be of interest to your audience. Clarify roles and responsibilities around writing, editing, publishing and sharing. Determine whether an outside consultant or agency is needed to augment internal staff to achieve regularly posted high-quality content.
  • Share everywhere – Your content can only achieve its desired results if your audience reads it. Determine which channels will be most effective at promoting your content. Keep in mind that oftentimes your content can be re-purposed; for example, a popular blog post can be the basis for a webinar or an in-depth whitepaper. Choose a snappy line from your content piece and share it on social media with a link to the original content. Other creative ways to share content include videos, infographics, e-books and podcasts.

If you need assistance with planning or executing your content strategy, Grow Corporation can help.
As a full service B2B Marketing Communications company, Grow Corp uses effective in-house consulting services, strategy, copywriting and design to build integrated end-to-end solutions that adapt to your company’s needs. We offer strategic input based on our deep business understanding and familiarity with the high-tech and industrial markets. You benefit from our 15 years of experience covering all aspects of marketing communications – alternative strategies, copywriting, design and execution. Our professional and experienced team cuts through the noise to deliver a compelling proposition that meets all your needs. We specialize in connecting the dots between the different messages emanating from the company into one clear, concise and convincing message. For over 15 years, our marketing and strategic advice has helped many businesses and industries, from both start-ups to established multi-nationals around the world. Now, let us help you.

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Eight Reasons White Papers are Critical to Your Business

Posted by & filed under Technology, Video.

White Papers have become a standard feature in the marketer’s toolbox. However, more often than not, these documents are filled with regurgitated, superficial content that is neither informative nor authoritative and says little about the issuing body’s view on the matter.

White Papers are often considered a necessity, rather than a benefit. This approach has negative implications to both prospective customers and partners. A scrabbled white paper does not define the benefit of the offering nor its technical innovation. Such a lack of focus fails to convey the uniqueness and impact of the product or service.

Yet, for all the poor examples, White Papers can play an important role and are well worth the time and effort used to produce them. Writing is a proven tool for crystalizing thoughts and ideas, and the material generated in a White Paper can inform and streamline parallel marketing efforts. White Papers are also a critical component in the customer engagement cycle….an excellent opportunity to move beyond the hype and buzz in order to explain key features and detail unique benefits of their products and services. Moreover, unrelated to a particular product or service, White Papers give the company an opportunity to establish thought leadership.

In summary, the world does need another White Paper, with the proviso that it is solid, instructive and decisive. But questions remain…how can you get started? Which elements must you include, and which should you absolutely avoid?

Download White Paper