Brands transitioning their marketing strategies to account for broad awareness-raising channels – which yield little to no insight into attribution or customer data – have to navigate an awkward growing-up phase that requires a reallocation of resources, navigating partnerships, new methods for tracking results and back-end preparation to meet a new level of customer response.
When five-year-old startup Eight Sleep released a new product in February, a $1,995 smart mattress that offers dynamic temperature adjustment, the company used the launch to kick off a "pretty intense testing phase" of new marketing channels, according to senior vice president of growth Ori Klein.
As direct-to-consumer brands grow up and spend more money on traditional marketing channels, figuring out how effective each of these marketing channels are becomes a much more challenging process. When brands start spending on channels like direct mail or television, they can no longer just count on the number of clicks to determine what's working. And that's where multi-touch attribution comes in.
Billion-dollar growth requires a relentless marketing strategy, and CMO Sheila Shekar Pollak said that Athleta’s seen the most success in investing in both traditional marketing methods, particularly catalogs, as well as paid social media marketing, where the company has considerably increased its spending this year.
As bot-driven fraud eats into budgets, marketers are placing a heightened focus on identifying the characteristics that account for authentic audience humanity.
Exclusively for Modern Retail+ members: Hear from Connie Matisse, Co-founder and CMO and Alex Matisse, Co-founder and CEO at East Fork Ceramics, on how to maintain brand loyalty during a time of tumult.Subscribe