One of the most sought-for services that we offer at GANDT Ventures are channel deep dives
A deep dive is a status quo report of the current situation, that looks at past data and provides you with an outlook of the future for that channel.
Now we know that it is usually not particularly helpful to look at one channel or department in particular, but it can help. Especially when you feel that you are lacking the expertise, or you would like to allocate more resources to a certain topic – but you are not sure whether it would be worth it or not – a deep dive can be very helpful.
We generally perform deep dives to uncover the following things:
- We would like to find out if you are grabbing the full potential of your activities
- Know whether or not you are using your budgets per channel as efficiently as possible
- Understand the customer base better
How do we define channels
When we refer to channels that we can deep dive into, we do not necessarily mean performance marketing channels. It would be better if we would look at our channels on step further up the hierarchy.
When we look at a common multi-channel digital sales funnel for example, there are customer segments that define our channels. One channel in this case could be: potentials (leads)/new (first time) customers, existing customers, or lost customers. We need to consider the fact that our customer segments use a multitude of media-channels and touchpoints.
This means that deep-diving into one performance marketing channel is probably not going to give us the full picture. Thus we like to segment our channels by: prospects/first time buyers, existing customers and lost customers. The tools that we have at our disposal are different for each of the groups.
For new/prospective customers we will probably not have contact data just yet. Nor a possibility to reach out to them. The channels that are at our disposal are therefore push marketing related.
We need to make sure that we become relevant to our potential customer and be there at the right time. Thus, we need to find the right marketing mix that will target this user efficiently and trigger him/her to contact us / take action.
Existing customers will have an entirely different channel-mix. We (should) know more about our customer, have had multiple touchpoints already, and need to make sure that we target him/her tailored to his needs.
This channel deep dive is all about customer profiling and clustering. The real contrasting thing about prospects vs existing customers, is that we (again should) have far more data to work with. We cannot make the same mistake twice with this customer group and we need to be more careful with experimentation.
The biggest challenge are the customers who we have lost over the course of the last few months, or even years. This customer segment will need a lot of convincing for us to get him back. We can lose a lot of money if we hang on to the thought that he might ever come back.
The marketing efforts and tools that we use, need to be planned strategically and specifically tailored to the needs of the individual. Ideally we use our deep dive to try and figure out why this customer has chosen not to stay with us.
What is part of a deep dive?
When we look into a channel, we take a close look at the customer data that is available. Next to that we use our performance marketeers who are specialists in Google Adwords, Facebook Advertising, Influencer Marketing, Affiliate Marketing as well as CRM (email marketing & customer relationship management), to dive into the technical setup and structure of the campaigns.
It is important to understand what is there/has been done, before creating a new top-level game plan. Once we have done so, we look at the goals that have currently been set. A status quo reality check is always a good point to start from. Then we need to see if we can meet the future expectation with the available tools.
This approach will help you to understand the technical setup and quality of the work that has been done, as well as the potential that is available. Together we develop a game plan on how we would like to go from there.
Interested in a channel deep dive for your business? Reach out to us now and tell us about your challenges.