Coronavirus has become an occasion for a quantum leap in the digital transformation of an already rapidly developing world. But the challenge of implementing a fully integrated marketing model is more urgent than ever.
Businesses need to track KPIs at every step of the client journey and use big data to quickly optimize their marketing funnel to increase brand awareness, increase sales, or improve lead generation. Unlike traditional marketing, digital marketing allows you to measure results, so you can play the far-sighted marketing game without being blind.
When it comes to spending money on marketing, ROI decides whether your campaign was successful or not. Digital marketing brings you the best ROI because it is more cost-saving than traditional marketing and advertising.
Traditional marketing models are limited in many ways, but one of the limitations is the inability to reach beyond a regional or local audience. Your business may not be geo-referenced, so why limit your reach?
However, 45% of organizations do not have a well-defined digital marketing strategy. Our 3D rendering company has worked with many successful marketing agencies. That’s where we learned how to develop and implement a flexible strategic approach to digital marketing and use the most popular and effective RACE marketing model for review.
What is the RACE model?
Dr. Dave Chaffee of Digital Insights created the RACE marketing model to provide companies with a simple framework for implementing digital marketing and omnichannel communications to drive inclusive growth.
RACE marketing model includes four stages: R – reach, A – act, C – convert, E – engage. Your potential buyer goes through this funnel. First, they land on your ad (R), then they land on your website and click the right button (A), then they sign up or make an order/purchase (C), and finally, they get into your loyalty program or follow your social media pages (E).
Everything is simple. Using this model RACE, you will increase awareness among your target audience and grow it, involve it in communication with the brand, convert visitors into clients and form maximum loyalty.
Some marketers put a “P” at the beginning of RACE, emphasizing the importance of the planning phase. You must define and organize your company’s marketing goals and objectives using SMART.
We have shown each stage of the RACE marketing model, presenting its objective, opportunities, strategy, activities, instruments, metrics, and also provided examples from the furniture business for our readers.
The first formal phase of the RACE marketing model aims to promote your brand, product, or company in areas outside your control but not beyond your influence.
Objective: raise awareness of the target audience and redirect consumers to the website, landing page, or social media page. The key here is to maximize your reach over time to create multiple touchpoints with paid, owned, and earned media.
Instruments:
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