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💰 Inclusion as a Customer Acquisition Strategy, Value-Based Bidding and more.

Author

Shaival Mehta
August 28, 2024

Your AI curated newsletter

28th August 2024

Using the power of AI to save you hours skimming through unimportant articles.

TOP RANKED ARTICLES OF THE DAY

1. Inclusion as a Customer Acquisition Strategy

Inclusive marketing is about actively inviting diverse consumers, particularly from underserved communities, to your brand. Simply saying "all are welcome" isn't enough. Companies need to show genuine commitment, which builds trust and breaks down barriers.

The Importance of Active Inclusion

  • Actively include underrepresented groups, not just avoid exclusion.

  • Brands should ensure their messaging, customer experience, and product offerings cater to diverse identities.

  • This builds trust, especially with communities who’ve felt ignored.

Real-World Examples of Inclusive Marketing

  1. Walmart’s Sensory-Friendly Hours

    • Walmart introduced sensory-friendly shopping hours (8-10 AM) across U.S. and Puerto Rico stores, lowering lights and noise for those with sensory sensitivities.

    • This acknowledges the needs of neurodivergent consumers (about 20% globally) and their caregivers, providing an inclusive shopping experience.

Actionable Tips for Marketers

  • Show commitment to diversity with intentional campaigns and products tailored to underserved audiences.

  • Understand consumer needs through direct engagement, ensuring marketing speaks to their experiences.

  • Create environments, both physical and digital, that accommodate all customers.

Inclusive marketing fosters loyalty and expands customer bases by making more people feel welcome and valued. Brands that embrace it drive growth while making a positive impact.

2. Is Value-Based Bidding Your Ticket to Higher Quality Leads?

Value-based bidding is a game-changer for marketers focused on lead generation. Instead of just chasing more leads, this strategy prioritizes quality leads that are more likely to convert into high-value customers.

The Power of Quality Leads

  • Prioritizing quality over quantity helps improve conversion rates and long-term growth.

  • It’s especially effective for businesses needing to nurture leads between conversion and sale.

Bidding to Value

  • Google’s AI uses value-based bidding to optimize ad spend by focusing on customers who bring the highest value, based on your goals, such as lifetime value or profit margins.

Is Value-Based Bidding Right for You?

  • This strategy works well across various industries, but businesses need to determine if they can assign meaningful values to conversions and connect their value data to Google Ads.

Implementing value-based bidding can significantly improve lead quality and, over time, boost revenue by focusing on high-value conversions.

3. Custom GPTs for Marketers: Creating a Virtual Team

Custom GPTs can revolutionize how marketers work by acting as specialized virtual team members. These AI models can tackle tasks, offer expert knowledge, and guide strategic decisions, saving time and improving productivity. Russ Somers, VP of Marketing at Quantified.ai, highlights that these tools can triple a team’s output, handling everything from routine tasks to complex challenges without the need for extra staff.

Boosting Productivity

  • Custom GPTs take on repetitive tasks (e.g., creating email sequences).

  • Improve efficiency by automating content creation and operations.

Filling Knowledge Gaps

  • GPTs can serve as experts, trained with specialized information in fields like marketing technology or industry-specific knowledge.

  • Example: "Roger RevOps" assists with revenue operations by understanding key tools like HubSpot.

Strategic Assistance

  • GPTs can provide high-level guidance. "Mentor Maya," for instance, helps with marketing strategy by offering advice based on the philosophies of experts like Peter Drucker and Seth Godin.

Using custom GPTs means gaining the ability to handle tasks you're too busy for, expand expertise, and have virtual advisors for strategic decisions.

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