Do you want to reach a wider audience and seamlessly convert them into potential customers? A strategic customer engagement plan can do wonders in today’s highly competitive landscape. RACE Digital Marketing is a sure-shot way to make your activities more quantifiable by reaching, interacting, converting, and engaging the target audience on the right platform at the right time.
According to sources, 49% of businesses do not have a well-planned digital marketing strategy. However, digital strategy is the crucial element that drives the content you create on your website or the posts you share on social media. Creating a buyer persona is vital in driving more conversions; this is where the RACE digital marketing framework comes into play.
Using the RACE model, firms can increase awareness among the target audience with – a broader REACH -> encourage them to INTERACT -> convince them to CONVERT -> ENGAGE to form maximum loyalty. From the moment the customer is unfamiliar with the company, it takes you through different stages of the customer’s journey – till he becomes a loyal client.
In this post, we will take you through the RACE model to manage and improve the results of your digital marketing strategy.
1. Why Should You Use RACE Digital Marketing in 2022?
RACE digital marketing framework allows marketers to structure an action plan in such a way that it aligns with the purchasing stage of the user. Here are the primary reasons to use the RACE digital marketing strategy –
1.1 Customer-Centric Approach
From creating awareness to leads through new prospects and converting the prospects to online or offline sales, RACE follows a customer-centric approach. By partnering with influencers and co-marketing – marketers can maintain engagement with customers on social media and other channels.
1.2 Data-Driven
It includes practical digital marketing tactics to implement on your website, social media pages, mobile apps, and other channels. The tactics are action-driven, which means they convenience the audience to sign up for a newsletter, and fill out a registration form. The key metrics can be pulled from Google Analytics and compared through time with a focus on marketing measures across the marketing funnel.
1.3 Omni-Channel
RACE framework includes various online touch points to acquire new customers and retain existing customers. Besides, it also has offline or traditional methods that are often helpful in boosting conversions. It covers comprehensive and essential marketing activities, including – SEO, SMO, SMM, email marketing, etc., across the customer lifecycle.
1.4 Performance-Based Strategy
It follows a data-driven marketing approach with well-defined KPIs to track at every marketing funnel stage. The marketers can review the results of their efforts using dashboards and optimize their strategy accordingly. Digital marketing techniques work well when aligned with the overall business strategy.
Now, you have understood why you should use RACE digital marketing. Let’s know the KPIs to track at each stage of the RACE framework.
1.5 What Does the RACE Digital Marketing Framework Mean?
RACE is the acronym of REACH, ACT, CONVERT, and ENGAGE, which involves curating buyer persona, pushing them through the marketing funnels, and eventually converting them. Marketers and business owners have to shape the marketing strategy at different stages of the customer journey.
Created by Dr.Dave Chaffey, co-founder of Smart Insights, the RACE framework provides solid and practical support in your digital marketing planning. It also helps you focus on the KPIs to manage the campaigns and drive results.
The RACE model is broken down into the below stages to help marketers create a well-formed marketing strategy. Before implementing the RACE framework, there is a PLANNING stage that involves managing and optimizing digital channels against defined targets. It includes designing the website and collating creative material, brand content, products, and services.
Let’s dive deep into different stages of RACE digital marketing –
- REACH
This stage is aimed at building awareness and improving the visibility of your company or brand. It involves publishing content on websites, blog networks, influencers, and social channels to draw people’s attention. In addition, one can maximize their reach using different earned media and paid touch points. The key is to drive visitors to your website and introduce your products and services.
For example – Reach refers to the total number of people who visits your website or sees your ad. If 1000 people have seen your ad, then your reach is 1000.
Digital Marketing Tactics
- Inbound/outbound marketing tactics such as – search engine optimization, blogs, social networks, emails, and paid advertisements are vital to reaching a wider audience.
KPIs to Measure
- Unique visitors coming from search engines, media outlets, and social media sites
- No. of followers on social media pages
- Bounce rate on your website
- Revenue or value generated by each website visitor
- Social media interactions
Case Study Example
Chi Chi London, an online fashion retailer, added a broader audience with Facebook dynamic ads. And guess what? The sales increased by 40%. The company used catalog sales campaigns by retargeting existing users with dynamic ads. Broad audience targeting helped the brand reach people who have expressed interest in its product, even if they haven’t visited its website or app.
- ACT
Act, short form of ‘INTERACT,’ is the decision-making stage involving clear customer journeys and a content hub capable of creating leads. It aims to encourage interactions on the website and social media and generate online leads. It is about convincing the users to take the next step on their journey.
Finding more about your company/products/services, adding products to the basket, signing up for a newsletter, registering as a member, etc. are some of the actions your users can take. These are defined as the middle goals of the funnel, where the leads are nurtured on the ‘path-to-purchase.’
For example, online quizzes are an effective lead magnet. You can create a practice quiz and encourage your audience to participate. People usually share their results with family or friends, encouraging others to take the quiz and see what they’d get.
Digital Marketing Tactics
- Landing page forms, blog, ebook signups, quiz, polls, Q & A, etc.
KPIs to Measure –
- Lead conversion rate
- Time spent on a website
- Number of comments, shares, or likes
- Goal value per visit
- Backlinks acquired
- Downloads
- Likes, shares, and comments
Case Study Example
Barões Digital Publishing, a Brazilian company, used OutGrow to create an outcome quiz, “which city should you move to in 2020?” for one of their clients, QuintoAndar. The quiz generated 64k leads and 134k visits, gaining considerable traction. Also, the conversion rate increased by 48%.
- CONVERT
Convert is the purchase stage where the marketer invests in marketing automation, remarketing, and CRO to drive conversions. It is aimed at conversion to sales via online or offline channels. In other words, it’s means motivating your audience to take the next step, converting them into paying customers – regardless if the conversion is via the online or offline store.
To increase the add-to-cart flows, Shopify experts have developed some exciting strategies like – Instant Checkout, Direct to Cart, Animated Cart, and Sliding Drawer. For example, in the Instant Checkout strategy – the users are sent directly to checkout, which increases the chances of completing the purchase.
Digital Marketing Tactics
- Product checkout pages, smart pop-ups, banner ads, live chat, call-to-actions
KPIs to Measure –
- No. of sales
- Revenue or profit
- The average value of the purchase
- E-commerce transaction
- Returning visitors
Case Study Example 1 –
Walmart, one of America’s most prominent brands, took advantage of the new features of HTML to turn its Clunky website into a fully responsive website. As a result, the company saw a surge in online sales made through mobile devices. The overall conversion increased by 20%.
Case Study Example 2 –
BliVakker, a renowned online brand in Norway, set out to streamline its checkout process. The company allows customers to use Facebook logins during checkout instead of creating a separate account. Surprisingly, the conversion rate reduced by 3%, despite being a convenient option.
The takeaway from the above case studies is – improving conversion rate requires careful analysis, strategy, and approach.
- ENGAGE
Engage is the final stage, where you start marketing activities to develop a long-term relationship with your customers. It involves engaging your customers for repeat sales, referrals, social media marketing, etc., to build customer loyalty as repeat purchases using your social media presence, direct interactions, emails, etc.
For example, you can send promotional emails to your existing customers suggesting a product, even if the margin is less. Or set up service call appointments based on the customer’s preferred hours.
Digital Marketing Tactics
- Customer satisfaction surveys, feedback, online reviews, referral programs, discount coupons
KPIs to Measure
- Active customers
- Repeat purchase
- Brand mentions
- Customer Advocacy
- Unsubscribe rate
- Customer lifetime value
Case Study Example
Tesla, a leading manufacturer of electric & solar cars, implemented a referral program that gave a $1,000 discount on a new order to referred persons and existing customers. What’s more from Tesla? If an existing customer referred ten people, they get the ‘rights’ to buy Model X SUV, a limited founder series. Tesla’s referral program changed many times, where they relied on their loyal customers to promote their brand.
The primary idea behind RACE is to help companies develop an omnichannel plan that helps them reach a wider audience and prompt conversions via offline or online channels.
2. How to Use the RACE Digital Marketing Framework?
RACE digital marketing is an inexpensive and effective way of marketing compared to traditional marketing methods. Here is a step-by-step guide to using the RACE digital marketing framework-
- Step 1 – PLAN
- Define your marketing goals and objectives
- Prepare an actionable marketing strategy
- Build a strong social media profile
- Claim Google Business profile
- Use consistent branding and advertising
- Step 2 – REACH
- Build a responsive and highly engaging website
- Regularly publish blog posts to engage the audience (inbound marketing)
- Optimize your website for search engines like Google, Yahoo, and Bing with a solid link-building strategy
- Create engaging social media posts to attract new followers and engage the existing ones
- Invest in email marketing, video marketing, and PPC advertising to reach a more comprehensive audience
- Step 3 – ACT
- Draw insights from Google Analytics and Search Console
- Keep a tab on sessions, bounce rate, session duration, acquisition, traffic, etc
- Conduct A/B testing for content, design, and CTA
- Use landing pages, signup forms, and registration forms to attract leads
- Step 4 – CONVERT
- Optimize the conversion rate by offering FREE consultation, coupons, or offers
- Add testimonials and success stories on the home page
- Retarget users who leave your website without taking any action
- Nurture leads through the email marketing campaign
- Step 5 – ENGAGE
- Engage your existing customers by getting in touch with them via emails, polls, surveys, reviews, etc
- Send them regular updates about your company
- Stay active on social media by responding to the comments
- Take the opinion of your customers to make your services better
RACE digital marketing is not a one-time job but an ongoing journey. Therefore, it is advised to measure, test, and optimize the strategy based on actual results. Then, with the right strategy, one can drive quality leads and increase conversions.
Conclusion
In summary, the RACE framework provides a simple approach at different stages within the marketing plan. Using this model, organizations can set suitable KPIs by defining objectives and strategies at different stages.
If you would like to know more about RACE digital marketing, get in touch with us. At Growth Ganik, we help you create a successful digital marketing plan that drives results.
3. FAQs
- What does RACE mean in marketing?
RACE stands for Reach, Act, Convert and Engage – a classic digital marketing funnel.
- Who created the RACE marketing model?
The RACE model was created by Dr.Dave Chaffey, the co-founder, and director of Smart Insights.
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