There are so many tools and tactics available that it's difficult to know where to start. We hope RACE gives a structure to help you review and prioritize when there are so many options, but some options work better than others.
RACE is a practical framework to help manage and improve results from your digital marketing. Ultimately it's about using best practice web analytics techniques to get more commercial value from investments in digital marketing. We hope it will help simplify your approach to reviewing the performance of your online marketing and taking actions to improve its effectiveness.
1. REACH. Reach involves building awareness of a brand, its products, and services on other websites and in offline media in order to build traffic by driving visits to different web presences like your main site, microsites or social media pages. It involves maximising reach over time to create multiple interactions using different paid, owned and earned media touchpoints.
2 ACT. Act is short for Interact. It's a separate stage since encouraging interactions on websites and in social media to generate leads is a big challenge for online marketers. It's about persuading site visitors or prospects take the next step, the next Action on their journey when they initially reach your site or social network presence. For many types of businesses, especially, Business-to-Business, this means generating leads, but it may mean finding out more about a company or its products, searching to find a product or reading a blog post. You should define these actions as top-level goals of the funnel in analytics. Google Analytics Goals can include "Viewed product", "Added to Basket", "Registered as a member" or "Signed up for an e-newsletter. Act is also about encouraging participation. This can be sharing of content via social media or customer reviews (strictly, part of Engage). The specific goals and dashboards need to be defined for each business as explained in our Delivering results from digital marketing guide. It's about engaging the audience through relevant, compelling content and clear navigation pathways so that they don't hit the back button. The bounce rates on many sites is greater than 50%, so getting the audience to act or participate is a major challenge which is why we have identified it separately.
3. CONVERT. This is conversion to sale. It involves getting your audience to take that vital next step which turns them into paying customers whether the payment is taken through online Ecommerce transactions or offline channels.
4. ENGAGE. This is long-term engagement that is, developing a long-term relationship with first-time buyers to build customer loyalty as repeat purchases using communications on your site, social presence, email and direct interactions to boost customer lifetime value. It can be measured by repeat actions such as repeat sale and sharing content through social media. We also need to measure the percentage of active customers (or email subscribers) and customer satisfaction and recommendation using other systems.
Courtesy: Smart insights – digital marketing strategy