Marketing Campaign: What is a campaign?
A marketing campaign is a program to achieve a specific objective by communicating to a group of customers or prospects. The campaign objective could be to introduce a new product or services, cross sell a product, or provide incentive to retain a customer.
Campaign Life Cycle
A marketing campaign involves multiple stages in its life cycle. The campaign stages remain similar irrespective of type and objective of a campaign. A successful campaign has following stages.
- Campaign Objective
- Campaign Plan
- Campaign Execution
- Response Capture
- Measure & Analyze
A campaign planning and execution start with finalizing an objective which an organization wants to achieve through the campaign. For example, a bank wants to target customers for a term deposit product or a retailer want to attract customers to the store.
A successful campaign requires a detailed and proper plan. A campaign plan has some of the following activity planning
- Target group: Who are the target customers and prospects?
- Communication Channel: What will be communication media or channel?
- Creative: What will be communicated to the target group?
- Offer: What is targeted offer if the campaign is sales campaign?
- Schedule: What will be campaign execution schedule?
- Response capture & support: How target group response will be captured and what is the plan to meet the response?
- Measurement: What is a plan to capture response and measure success of a campaign?
A proper campaign plan adds value only by a successful campaign execution. A successful campaign execution requires a lot of coordination with creative agencies, internal teams – finance for budget approval & analytics team for target groups identification – , and communication agencies for direct mailing (DM) and emailing.
An organization has to plan and put in place a system to capture campaign response. Response capture will help in identifying what is working and taking require steps. For example, if a campaign is to promote a term deposit and has positive response from the target group over the phone, the bank has to take required action to meet the increased response.
Measure & Analyze
An organization executes thousands of campaigns every year. They have to measure and analyze campaign response to learn and improve future campaigns.