Electronic Temperature Instruments
- + Marketing audits and evaluations
- + Target audience research and segmentation
- + Marketing strategy & planning
- + Creative and design
- + Pay Per Click (PPC) campaigns and adverising
Challenge
Annex was tasked with auditing the marketing activity of Electronic Temperature Instruments (ETI) to understand the return on investment (ROI). The insights gleaned from the audit would then be used to develop the marketing strategy and specific tactics to achieve sales growth whilst reducing marketing spend.
As well as working with the data already available, we worked with ETI to implement additional measures to gain a deeper understanding, for example the source of sales. In 2017, ETI’s advertising spend accounted for over 20% of the marketing budget, however the audit highlighted that it was only responsible for less than 5% of sales.
The additional data available for digital advertising also highlighted that the conversion rate was 3% with the advertising cost for some items exceeding the available margin meaning they were sold at a loss.
Solution
We reduced the print advertising spend by 60% and implemented an iterative approach to the creative development of adverts using new tracking metrics to inform changes based on what resonated with customers. A year on year comparison of the same period as the original audit shows that print advertising alone now accounts for 6% of sales.
Working with specialist PPC agency Inbound360, briefed and managed by Annex, we completed an overhaul of ETIs digital advertising, which also included the implementation of a new online payment method to ensure conversions were recorded with 100% certainty. A year on year comparison of the same period as the original audit now shows that digital advertising accounts for 11% of sales with no items sold at a loss.
Advertising sales lincreased 12% year on year.
Print advertising spend reduced by 60% year on year.