Improving Digital Marketing Strategy With The Help Of The Race Model.
What is RACE Model?
The RACE model is a framework for digital marketing activities, strategic planning, or omnichannel communication plans. The RACE model consists of four essential stages, each aimed at customers in a different set of the customer lifecycle to build relationships and increase customer loyalty.
Dave Chaffey developed it from intelligent insights that help marketers to integrate digital marketing with more traditional marketing activities.
You have many theoretical models to help you strengthen and optimize your marketing strategies as a marketer. However, these models can become overwhelming. So, when someone comes across a model that provides simple direction, such as the RACE framework, it is certainly one to look into.
The RACE model helps improve your digital marketing activities and results as it aims to capture and improve customer awareness.
All four steps of the RACE model are necessary for accurate results and ROI.
Read More: The Who, What, Why, & How Of Digital Marketing
RACE Model Steps to Boost Your Digital Marketing
The RACE model refers to the four stages of a marketing framework that are:
- Reach
- Act
- Convert
- Engage
Each stage is an ongoing process, but all aim to move leads down the pipeline and turn them into your company or brand advocates.
Let’s properly analyze the four stages of the RACE model:
1. Reach
The RACE marketing model’s first phase helps promote your brand, product, or organization in areas beyond your grasp but not your influence.
In the Reach stage, you will aim to generate exposure for your product, brand, or services using offline and online media. You can calculate success by tracking the traffic generated by your digital campaigns to your website or social media pages.
The goal of the Reach stage will create exposure for your brand, product, or services through both online and offline media. It maximizes reach over time to create multiple interactions through various paid, owned, and earned media touchpoints.
This stage of the RACE model is essential when launching a new product or website, as early exposure will lead to a higher ROI (return on investment).
2. Act
Act here is an abbreviation for Interact. You start generating leads for your business at this stage. It’s all about offering value to prospects and encouraging the start of a relationship.
The more leads you have and the quality of the relationships you start with will mainly determine how high your future conversion rate is. So, this step is a crucial one.
Capture the attention of consumers at the critical moments that influence their decisions. When consumers visit your website or social media, you should persuade them to take the next step in their purchasing journey.
Act KPIs
- Leads
- Lead conversion rate
- Time on page/ site
- Shares, comments, and likes
3. Convert
In the third phase of the RACE model, you reach goals, such as increasing sales from online and offline potential buyers.
The Convert stage takes your leads and turns them into paying customers. These could be in the form of online transactions or offline channel purchases.
You’re likely chopping and changing your strategy and content at this stage. After all, you can’t get it all right the first time.
So, keep going if you don’t instantly see the conversion rate you were hoping for.
Take a step back, evaluate what is and isn’t working, and then change what you can. It’s as simple as that.
Convert KPIs
- Online and offline sales
- Revenue/ profit
- Average order value
4. Engage
Everything in the Engage stage aims to develop a long-term relationship with your customers. Essentially, you want to turn first-time buyers into loyal customers who advocate for your brand, products, or services.
You must consider incentives and content that will increase customer loyalty, thereby increasing customer lifetimes and the success of your goals.
It’s more than engagement that can only influence loyalty. It would help if you considered your customers’ entire experience to create long-lasting relationships with them.
Engage KPIs
- Repeat purchases
- Satisfaction and loyalty
- Advocacy
We have the right skill and experience to carry out the RACE model for your business. Also, we’ll have the right ROI-focused strategies to save you time and extra costs in the long run.
For optimal results, you may need the marketing services of an integrated marketing company. For this, you can Contact Us NOW!
