Value Capture Marketing to Replace Views and Likes
June 23, 2012
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Whether you are a B to B or Consumer marketer, understanding how the principles of value capture marketing can be used to your advantage can be the difference between a successful program and one that fails to deliver the required ROI.
For brands, this often stops at collecting clicks, views, impressions or shares. While these metrics have some value, they will constantly be challenged by those managers that will only buy into hard metrics such as revenue. The good news is that most marketing programs offer many opportunites to capture value.
For example, when placing a video on YouTube, why not end the video with some type of incentive that will encourage the viewer to provide some identifiable information such as an email address. Why not go even further and offer a coupon that can measure purchase, then a reward for providing referrals, or anything else that provides a clear path for the consumer or prospect. In the case of B to B, a simple white paper is all it takes to move someone from anonymity to known.
With each email collected, a brand is obtaining the name of a potential customer that at minimum showed interest in a particular product or service. Now let's say you collect 100,000 or 1,000,000 of these names. Would you rather have 1,000,000 "Likes" or 1,000,000 names.
Even with "Likes" why not market to the "Likes" so that you can attach real value to each person that has expressed int
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erest in the brand. As Gina Sverdlov notes in the Forrester research blog, their "Facebook Factor" research shows that individuals that "Like" a brand are significantly more likely to purchase. Now what if these "Likes" are incented to download a coupon, or take some other action that identifies them as brand interested. Any incentive such as loyalty points, coupons, books, virtual currently etc. can work to engage with this self selected audience to yield greater value for the brand.
Determining how to capture and increase the yield from value captured from a succession of customer interactions is sure to increase the batting average of any marketer. Value capture marketing promises to transform programs that traditionally rely on soft metrics such as Likes and Views to one that delivers real measurable value to marketers.