IQ Agency Archive - Digital Advertising Agency – Marketing Strategy | IQ Agency IQ Agency

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  • 04.26.17

Ad Math: How to Calculate Your Net Promoter Score (NPS)

In this Ad Math video, we discuss how to calculate your Net Promoter Score.

Created by Bain & Company, the Net Promoter Score (NPS), is used as a quick and simple way to measure customer satisfaction. Your NPS score is based on one question, asked on a 0-10 scale (with 10 being ‘very likely’): How likely is it that you would recommend our brand/product/service to a friend or colleague?

Responses to this question are then grouped into three categories: Continue Reading

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  • 04.19.17

Ad Math: What is Churn Rate?

In marketing, we spend a lot of time trying to attract new customers, but it’s also important to know how many customers you may be losing. So, in this video, we’re going to discuss how to figure out your churn rate.

Unfortunately, not all customers are loyal. Sometimes, no matter how hard you try, some customers decide to move on to another company and its products (see our post on the value of email subscribers)Knowing how many customers you lose to the competition vs. how many you retain will help inform your marketing strategy and may even guide your product strategy. Continue Reading

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  • 04.12.17

Ad Math: Calculating Your Value to Volume Ratio

In this video, we’ll look at Value to Volume Ratios (VVR), which can help determine how efficient your marketing efforts are compared to the competition. In a previous video, we discussed how to calculate market share and how that number indicates the percentage of business their company or product category has when compared to its competitors.

The value to volume ratio measures your estimated share of total market gross profits, either for the company overall or a specific product, compared to your share of the total dollar volume sold in your market or the product category. Continue Reading

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  • 04.05.17

Ad Math: Calculating Promotion Profit

Many of our clients run promotions throughout the year to jumpstart sales during key periods. The hope is that, beyond short terms sales, these new customers become long-term customers.

However, the bad thing about promotions is that while sales may spike in the short-term, your profit margin will decrease. Additionally, depending on how frequently you run promotions, you may be training customers to wait until there’s a discount – which is a hard trap to climb back out of.

So because of all this, it’s important to understand the profit that results from your promotions. Continue Reading

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  • 03.29.17

Ad Math: Calculating Marketing Cost Per Unit

When you don’t have deep pockets, every dollar in your marketing budget counts and you need to allocate your money as effectively as possible. That’s why it’s helpful to know your marketing cost per unit.

After all, the way that we – and our marketing efforts – are ultimately judged is by how many units of a product or service we’ve sold in a given period.

And while we often look at how much we’re spending per customer or per channel, it’s important to also understand how much your spending in marketing per unit.

Continue Reading

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  • 03.20.17

Adidas Drops TV Ads in Favor of Digital

Adidas is moving their marketing spend away from TV towards digital to focus on younger consumers.

turning off the tv

Adidas CEO, Kasper Rorsted, was recently interviewed by CNBC and stated that all of their engagement with customers takes place through digital, and it’s the channel where they believe they can create a more direct engagement with consumers.

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  • 03.15.17

Ad Math: The Value of Email Subscribers

Email has been around a long time, but for many people, there is still a great deal of uncertainty surrounding it. We’ll today; we’re going to address some of that by figuring out how valuable a subscriber is anyway.

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  • 03.08.17

Ad Math: What is Frequency?

In our last video, we discussed reach, so it only makes sense that this week we tackle frequency.

Where Reach is the number or percentage of people who may be exposed to an ad in general, frequency describes the number of times a member of your target audience is exposed to that ad over the same period.

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  • 03.06.17

Majority of Women Distrust Brands [Infographic]

A new study released by SheSpeaks, an influencer company for women, highlights significant distrust that currently exists between women and brands.

Marketing to Women | A Distrust of Brands

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  • 02.20.17

2017 Digital Marketing Budget Trends

Econsultancy and Adobe have released their 2017 Digital Trends report, which is based on a global survey of over 14,000 marketers and one topic in the detailed report was “priorities and budget planning for 2017”.

When asked how their spending on various digital marketing channels and disciplines would change this year the largest spikes were in social media marketing (+56%) and content marketing (+55%).

2017 Digital Marketing Budget Plans Continue Reading