CASE STUDY: Outsourced Marketing Can Double A Brand's Revenue
Marketing is one of the most important parts of a successful business. In fact, a strong marketing strategy can lead to higher profits, a larger consumer base, and help build overall brand awareness.
Typically, the job of developing a great marketing plan is left to the CMO. However, some startup companies simply do not have the overhead available to hire a high-level marketing executive, especially considering the cost of a salary and benefits.
For this reason, outsourcing your CMO can prove to be very beneficial for calculating branding strategies and acting as a full-service marketing team to launch, grow and reinvigorate your business.
One company that experienced significant growth in revenue after working with an outsourced CMO is interior design e-commerce site, Lulu & Georgia. As a veteran in the home décor space since 1955, the California-based company has been glamorizing residences, hotels and businesses across the world - but never tested their brand online via e-commerce.
Now faced with the challenge of competing in a much more crowded space, Lulu & Georgia enlisted help from a company that specializes in handling outsourced marketing to develop a marketing plan to gain brand awareness and consumers which resulted in high profits and overall business value. Here are some case study points from work outsource marketing company Hawke Media realized when it helped Lulu & Georgia with its marketing
Test and Optimize your Strategy
Testing your strategy allows you to target any level, or combination of demographics and build custom and look-alike audiences based on existing users, site visitors and customers to spike traffic. Testing and optimizing hundreds of advertisements (through targeting options and placements on Facebook), enabled Lulu & Georgia to acquire new site traffic which converted to sales with a positive ROI while growing the brand's social footprint.
Automate Your Marketing to Optimize Your Results
Email marketing is a great way to establish a relationship with your customers and get measurable feedback. An automated series of emails can save time and nurture new potential customers to a sale while refining promotional emails and better segmenting recipients to coordinate relevant messages with appropriate audiences.
Retarget Consumers to Drive More Sales and Conversions
Strategic email marketing can effectively retarget non-purchasing site visitors with highly relevant offers. With a carefully thought out email capture mechanism and retargeting strategy, Lulu & Georgia was able to execute a win-back campaign for users who had strayed from the brand and capture additional visitors who were re-engaged during the very critical 48 hour window.
Additionally, Hawke helped the brand migrate its existing customer and marketing email lists to a new email service provider yielding double-digit increases in open rates, click through rates and revenues.
As a result of these efforts, Lulu & Georgia doubled their monthly revenue in four months, increased their e-commerce conversion, had twelve times more revenue per email and increased their lifetime value by 29 percent.
As competition for consumer attention heats up leading into the holiday season, brands are on the hunt for profitable marketing solutions that can be mobilized quickly. Outsourced marketing is just one solution that can help bring brands up to speed.
This guest article was written by Erik Huberman, CEO of Hawke Media.