In the last post, I looked at two measurement lenses that tracked revenue and customer habits & preferences. Return on Insight and Return on Investment give you a view for finding and then converting your target customers.
This post covers the other half of the 4 ROIs – Return on Involvement and Return on Innovation.
Return on Involvement
Involvement is the bookend of Return on Insight. If Insight is about understanding the customer, then Involvement is about the experience viewed along acquisition and engagement lines.
Acquisition involvement looks at going beyond the click in a mobile ad campaign and converting the consumer. That may be an opt-in, a download or a push to a location. In each case, a consumer action generated a tangible brand involvement.
Mobile can also test your customer’s involvement with your other media channels. The common example is a text message call to action that entices with an offer. Unique keywords help you determine which media was most effective in driving involvement. But you should also be including a mobile URL or pushes to an app download if you have those touch points. If your mobile efforts are really mature, image recognition tactics can also capitalize on mobile’s ability to bridge experiences.
Engagement dimensions provide you with the ammunition to continually improve your offering and create conditions for deeper and more frequent customer interactions.
Adding response mechanisms such as coupons or bridges to second-level experiences to SMS deployments helps you learn what offers and incentives drive conversions. Any web or app program should vigilantly monitor what activity is occurring: which features are being used, for how long and when.
Mobile efforts suffer when siloed, in terms of cross-media integration and singular campaigns. If you can earn some share of a customer’s mobile, use that opportunity to deliver ever increasing relevance and utility. That drives Involvement.
Return on Innovation
Tying all of the other three ROIs together is Return on Innovation. Consider mobile as a platform. The device offers at least seven different channels (voice, email, messaging, media, web, apps, and advertising) for connecting to your customers. Each of these channels requires strategic consideration and tactical innovation.
Extending your digital footprint and engaging customers in new and compelling ways can be hugely powerful for driving brand awareness and favourability, customer relationships, propensity to purchase and revenue.
Innovation can lead to connecting with customers in new ways, but also connecting with new customers. Those who might have never given your brand a thought may be attracted to a program that speaks to how they like to consume information and interact with their environment.
I suppose innovation is in large part qualitative, but that doesn’t mean it can’t be measured.
Customer metrics, like new acquisitions, frequency of interaction, opt-ins & outs, revenue per customer and so on, can be double counted with other ROIs while showing how you are winning with mobile.
Product & media metrics, like messages sent, visits, bounce rates, time per visits, feature use, CPMs, CTRs and beyond, help you understand what your channels mean for brand reach and how you’re making new connections.
My one warning for innovating is beware of excluding customers for the sake of producing a shiny object. Explore ways to attract new customers while furthering your relationship with existing customers simultaneously.
Real innovation, for me, involves creating value across your customer profiles and lifecycle stages.
I’ll close with as tidy a summary as I can manage:
- Insight = who + where
- Involvement = what + how
- Innovation = why
- Investment = how much.
Hopefully, these overviews have given you a starting point for earning tangible returns from your mobile programs.
Possibly Related Posts:
- Managing Your Mobile Marketing Strategy: Introducing the Mobile Maturity Diagnostic.
- Two Words For The Mobile Future
- 3 Mobile Marketing Nuts For Brands to Crack
- Frictionless Mobile Marketing
- How To Roadmap Your Mobile Web Development