Driving ROI in marketing isn't always a straightforward task. But, when you pair your efforts with genuine relationships and measure the effectiveness of how you engage with your customers, you experience closer relationships and greater business success. Here's how to approach marketing ROI the Banzai way, with relationships at the forefront.
See if you’re an engagement marketing pro. Take the assessment.
What Is Engagement Marketing?
Engagement marketing is an approach designed to humanize marketing. It focuses on building relationships through two-way communication channels, rather than talking at customers. Engagement marketing puts the customer, their frustrations, and their needs at the center of their buying experience. Instead of leading customers through the outdated, traditional sales and marketing funnels that focus on selling, engagement marketing adds a human touch to the marketing experience by providing value and relating to customers.
This marketing style empathizes with customers' frustrations, gives them helpful resources and actionable advice, builds confidence through solutions that work, and cultivates long-lasting relationships. Banzai has developed a logical method to end the marketing madness: Put people at the center of every interaction, whether they're purchasing for themself or on behalf of a business.
Engagement marketing does just that — engages with customers through open channels of communication. These channels are specifically geared toward listening to their concerns, answering questions, and helping to solve customer problems at every stage of the new, emotionally driven marketing cycle.
In case you didn't know: What is Engagement Marketing ROI?
Engagement marketing ROI specifically deals with the return you stand to make on the time, money, and creative efforts you invest into engagement marketing campaigns.
Your ROI can be a monetary return (i.e., the revenue your engagement marketing campaigns generate). It can also encompass other types of value, such as increased brand awareness and loyalty, improved customer retention, higher customer lifetime value, better employee engagement, a more positive workplace culture, and more.
The Best Engagement Marketing Tactics To Drive ROI
1. Provide value through events
Whether held in person or online with a webinar tool like Demio, events are the perfect opportunity to interact with, entertain, and get to know your customers better while giving them high-value content. You can design events to introduce attendees to your products or services, teach them how to make the most of their relationship with you, and provide the opportunity to voice their feedback on your business. No matter the type you run, events almost always solidify your customers’ decision to continue relying on you to solve the frustrations they encounter.
To increase engagement during events, create plenty of chances for participation, such as holding Q&A sessions, sending out live polls, and distributing follow-up surveys.
2. Customer loyalty and gamification
An effective way to engage your customers while doubling down on customer loyalty is to gamify your loyalty program. Encourage customers to sign up for your program, then give them plenty of ways to earn points, discounts, badges, and other incentives. You can reward behaviors like sharing your brand on social media, referring friends, reviewing products and services, following your social media pages, signing up for a newsletter, birthdays, spending a certain amount of money, and repeat purchases.
3. Active social media presence
Social media is a great way to increase your engagement marketing ROI. You can interact with customers quickly and directly, such as answering questions or addressing a negative review. It’s free to use, although you'll likely pay an employee to manage your page, and you might opt for paid advertising to expand your reach.
Leverage your social media pages to ramp up your employee advocacy as well. Provide your employees with guidelines and incentives for promoting your content within their own social networks. This boosts your organic reach while also amplifying one of the most valuable forms of advertisement: word-of-mouth recommendations.
4. Give back to the community
Volunteering in your community is a boots-on-the-ground approach to engagement marketing. Give your employees time to volunteer with causes that align with your company's brand, values, and culture. Be sure to take plenty of pictures, document the experience, and use that content to connect with the like-minded, service-focused people in your market.
With this approach, you have the chance to engage not only with your community members face-to-face, but also a much wider audience online.
In addition to creating empathetic content that’ll drive brand awareness and image, your employees will also feel more fulfilled in their jobs by contributing to worthy causes. As a result, they'll be more engaged, productive, satisfied, loyal, and more likely to stick around.
5. Set goals and measure progress
To ensure your engagement marketing tactics are successful, you have to define what success looks like for you (i.e., set goals) and implement tools to measure your progress. This way, you’ll know you’re headed in the right direction — namely, toward hitting each established benchmark.
Possible metrics to track include:
- Event engagement including overall audience attentiveness, poll participating, and chat usage.
- Social clicks, shares, and likes
- Program sign-ups and total points gained
Hit the Engagement Pedal To Drive Marketing ROI
If you're ready to grab your customers and hit the engagement pedal to start driving your marketing ROI, we hope you'll invite Banzai (and our easy-to-use, streamlined tools designed to improve engagement marketing efforts and maximize ROI) along for the ride.