Organizations need to create favorable awareness or share information about the
organization, process changes, and its product & services. A marketing program
which aims to achieve a specific objective of creating favorable awareness or providing
information to the target customers is a campaign. A campaign could be an advertisement
campaign for branding on television, product promotion campaign on social media or cross
sell campaign via cold calling.
A campaign will typically have target segment or customer list, objective, channel,and message which will include creative and communication message etc.
A campaign can be classified into different groups based on objectives e.g. Cross Sell
Campaign vs interest rate changes on a credit card, channel e.g. TV campaign vs direct
mailer campaign, or by target group e.g. direct marketing vs indirect marketing.
Each organization runs hundreds of campaigns each year across channels and spends millions of dollars. Campaign Analytics helps campaign and business managers to measure success of a campaign, understand drivers of the success and improve return on investment (ROI). To ensure success of a campaign can be measured and analyzed, a proper structure has to be built before rolling out a campaign.
A campaign life cycle has following stages:
Business managers have to answer some of the following questions for executing a campaign.
What is objective? Who is target group? What is communication message? What is communication channel?
What is timeline for a campaign? How much is budget for the campaign? What is expected return on
investment if it is marketing campaign?
Marketing & communication managers work with internal teams and creative agency to design
creative communication message for effective response. One of the key steps typically ignored
by campaign managers is putting together structure set for measurements for example A/B Testing,
Test & Control Set-up, and Design of Experiment.
Identify the target customer group or list for a campaign.
Execute the campaigns after applying all the required compliance, eligibility and other checks.
Measure the success of a campaign and find out drivers or factors of a campaign performance.
Analysis of campaign results for findings insights to make future campaigns more effective.
Some of the leading Multi-channel campaign execution and management tools are SAS Marketing Automation, IBM Campaign (Earlier Unica Campaign), SAP Campaign Automation, Teradata Aprimo and Oracle Siebel Campaign.
Once campaign is rolled out the responses can be monitored and analyzed to measure success of the current campaign and improve effectiveness of the future campaigns.
Analytics for Direct Marketing Campaigns:
- Campaign Profiling
- Customer Segmentation for target selection
- Predictive Modeling for customer selection
- Design of Experiment or Fractional factorial Design
- Response Curve Analysis
- Response Modeling
- Campaign Monitoring
- Campaign Optimization
Marketing Mix & Media Mix Modeling, Marketing ROI maximization, Optimal Marketing Budget Allocation, Sales Driver Analysis & Forecasting, and Attribution Modeling are quite commonly used for Indirect Marketing.