TOP TIPS: ACHIEVING RESULTS USING MARGINAL GAINS
By definition, a marginal gain is the improvement derived from a small change and as demonstrated by the Team Sky cycling team’s consistent success between 2012 and 2018, the principle can be applied regularly to sustain performance in many areas, including marketing.
The trick is to go back through the marketing and sales cycle, look at the tiny improvements that can be made at each stage and challenge any areas that can perform more effectively. We have explored some of the most pressing topics to address…
A strong, concise definition of the target audience should be created, ensuring only those who fit best are focused on. Don’t be afraid to make cuts to databases and contact lists – carrying dead weight can be extremely costly. As well as cutting back, the data of the key targets should be completed and going forward, test, measure results and update your database accordingly to ensure only the best and most relevant audience is targeted
Content is key and should be fine turned to suit each particular audience channel. It is also important to consider the different types of approach for each group or individual - do they best respond to an email, InMail, a phone call or letter? These small adjustments can drive significant improvements in your campaigns and generate positive engagement.
While awareness is important, it’s engagement that is the real goal and starting conversations with future buyers. Just like the goal of Team Sky was to get the lead rider onto the top step of the podium, the objective of the marketing team is to generate dialogue with new custom for the sales team to continue.
As soon as the best contacts are receiving relevant messages, effective techniques can be used to attract attention and start this crucial dialogue. You must offer a persuasive reason for individuals to engage and ensure your call to action is crystal clear, in order to make starting the conversation an easy decision.
It’s important to choose the way in which you measure success and stick to the method each and every time activity is reviewed. Perhaps the true quantifier of marketing success is in measuring the accurate payback and monetary benefit – a big marginal gain if used consistently.
In summary, marginal gains shouldn’t be used as a one off, but a constant process – continually question the ways in which things are done, refine, re-focus and measure. Once you start to see results from marginal gains, you’ll want more and so the cycle will naturally continue…