In this case study, I want to point out how important it is to define goals and concepts for the company’s activities. In this case, it is an approach that is guided by quantity, and therefore recalculations and regular recording of monthly targets. The case study is complemented by my thoughts.
“The secret of marketing is. . . to make amazing product” Noah Kagan
Mint has come to market with the idea of consolidating all financial accounts into one application, in which you can switch between accounts and monitor their status using graphs. They completed this idea by offering advice on how to make even more use of available resources through cost optimizations, investments, etc.
Quant-based marketing
Its essence lies in reaching a wide range of current and potential customers, gaining awareness and approaching the overall goal in part. It applies the principles of defining a SMART goal in context and in a certain sequence.
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Set goals
Why is it so important? Without a fixed endpoint, the direction changes over time, and chaos can ensue, leading to irrational decisions that cause wrongdoing. In quantitative marketing, it is necessary to look at the main goal on which the activities and CONVERSIONS are derived.
“So if we are to sell a product for $ 100 a month and we want to increase our monthly income from $ 0 to $ 10,000, the first thing we need to do is find out how many customers we need to reach the $ 10,000 per month mark. In that case that would be 100 customers who pay $ 100 a month. “
2. Set a timeline
Until resp. how regularly should the amount be obtained? This time period must be realistically set.
“For example, we want to get 100 new customers in 3 months. It could even be further divided into ~ 16 new customers per week.”
3. Set up insight
In our case, supplemented by set up reports that you understand. This is the alpha-omega data we create. Only in this way can the right direction of progress be set, and only in this way can decisions be made that do not degrade society. In them it is important to know:
- who buys in the online space,
- what content is most relevant
- from where customers come to you
4. Research resources
Constantly evaluate the relevance of data from sources and determine which source is the most suitable and popular for business. These include:
- SEO optimization and SEM paid ads,
- PR,
- online vs. offline.
“When choosing resources, keep a budget in mind and decide which resources to prioritize. If we have a budget, resources like paid sponsorship and social advertising can work great. With a small or zero budget, it would be better to focus on more organic channels. such as content and PR. “
5. Set target group
Based on the data obtained so far, create relevant information that brings the segments of the company (its target groups) closer on the basis of psychographic characteristics. The basic divisions include:
- B2B / B2C,
- gender, age, area, time,
- Generations Y, Z, Millennials.
6. Create a timeline
In it, record metrics in predefined dimensions and check after which time they are filled. This is so that the goals are perceived as better achievable. It is necessary to take the overall goals from each unit and divide them into better manageable pieces that fit into the time frame.
7. Record successes
“The first few weeks of your strategy are likely to include a lot of experimentation and testing until you find what works (and what doesn’t). At Mint.com, we tested several when the product was first launched.
The data from these tests allowed us to learn more about which messages resonated with our target audience, and helped us improve our content and increase conversions. Therefore, it is important to measure the results in a spreadsheet so that you can identify where your plan needs to be adjusted.
If a source has poor performance and you have tried several tests, you can throw it away and replace it with another source. Similarly, if a resource starts to work extremely well, you should double your financial resources to maximize your growth. “
In quantitative marketing, it only depends on the confirmed sources of transmission (customer action required). To be successful, you must have everything ready and think ahead. There is no need to leave anything to chance.
