Kevin Smith, Author at IQ Agency Archive - IQ Agency Kevin Smith, Author at IQ Agency

Author Archive for Kevin Smith

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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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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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Ad Math: What is Reach?

Reach is the number or percentage of people in your target audience reached by a single exposure – such as a radio spot, banner, or commercial – in a specified period of time. Most media companies will make their reach metrics available to you and there are actually rules, by the Advertising Research Foundation, that guide how they should be estimated.

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Social Media Marketing: Following Leads to Buying

For many brands, social media marketing is becoming an increasingly forgotten element of their overall strategy. At the very least, the effort that has gone into social channels appears to have decreased as more stories about how platforms are tipping the scales towards paid social vs. organic and more stories about how the metrics being provided by some platforms are being called into question.

Plus, I get it, everyone and their mom are on social media and so the glow of Facebook, Twitter, Pinterest is a little dimmer now vs. some of the more traditional channels. You may think of your social channels as something that you have to maintain, but not at the level of creativity that you had to a few years ago.

However, a new study by Sprout Social may prompt you to rethink your commitment to social. According to their research if someone is following your brand there’s a high probability that they will soon be making a purchase – regardless of their age.

Likely to Purchase If Following on Social Media Continue Reading

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Ad Math: How to Calculate Response Rate

One of the best things about direct marketing – such as digital marketing email, or direct mail – is that it’s possible to gauge whether your marketing is working or not. A basic number used to calculate the effectiveness of direct marketing is response rate, which measures the percentage of people who found your message or offer attractive enough to act on it.

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Ad Math: How To Calculate Share of Voice

Share of Voice measures the percentage of media spending by a company compared to total media expenditure for the product, service, or category in the market.

You calculate Share of Voice by taking your advertising spend and dividing it by the total of all market advertising spend for the same type of product or category.

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Email Marketing In a World of Too Much Email

An irony of email marketing is that even the people crafting and sending the emails think they get too many marketing emails. But how many is too many and what can we do to make sure the emails we send as part of our marketing rise above the rest?

A MarketingSherpa survey asked adult internet users in the US why they unsubscribe from email lists and 1 in 4 said they did so because they receive too many emails—the most common reason among respondents in the survey.

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Winning The Numbers Game

According to the article, “40% of US internet users said receiving marketing emails once a week was preferable. This was more than twice the number of respondents who felt receiving emails monthly was about right—the second most popular choice”. Continue Reading

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Ad Math: How To Calculate Market Growth

A critical task in planning your marketing is to identify growth opportunities. These usually come in the form of financial performance and market share, which we’ve discussed in a previous video.

Your Market Growth has a direct implication on your competitive position. The growth of your product or service signals market acceptance and a potential competitive advantage. This is especially true if your growth outpaces that of your competition.

In fact, an aspect of Market Growth that you should be focused on is whether your growth is faster, slower, or on pace with the market as a whole – since the answer could have an impact on your marketing plan, channels, or even your audience.

The process to determine your Market Growth is a straightforward one, but – like Market Share – it’s a key part of the foundation for many other metrics that we’ll touch upon in this Ad Math video series.

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Customer Experience is Key to Attracting DIYers

According to the National Association of Realtors, 2016 was the strongest year for the housing market since the beginning of the financial crisis. A healthy housing market is a positive thing for all businesses, but it’s especially beneficial for the two big home improvement stores in the U.S., The Home Depot and Lowe’s.

During times of strong housing growth, contractors and building professionals typically drive a majority of the sales, and this was the case in 2016. The same Realtor report forecasted the beginning of a housing market slowdown for 2017.

So the question is: what are these home improvement retailers doing in order to ensure continued growth as the market slows?

ATTRACTING DIY CONSUMERS THROUGH CUSTOMER EXPERIENCE Continue Reading

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Ad Math: How to Calculate Market Share

In this week’s Ad Math video, we’re going to walk through how to calculate Market Share.

Why Market Share Matters

The main goal of marketing is to attract and retain customers by promoting why your product or service is better than your competitors. So, to measure if you’re successful in that goal, you need to assess your performance within your industry or category. That’s where market share comes in.

Your Market Share should factor into a lot of marketing planning, and it should be analyzed consistently throughout the year to better understand the various sources of performance.

How To Determine Your Market Share

Determining your market share is relatively easy assuming you know how many sales for your type of product or service has occurred within the industry in a given time. Let’s take a look at how to figure it out:

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