Full-Funnel Marketing and Hyperlocal Strategies Will Drive Business Results In 2023

By Jordi Lippe-McGraw Jordi Lippe-McGraw has been verified by Muck Rack's editorial team
Published on February 1, 2023

Full-funnel marketing and hyperlocal strategies are the keys to brand success in 2023, according to Rob Davis, President and Chief Marketing Officer of Novus Media Inc. 

In the face of an uncertain future, marketers and agencies struggle to find the right strategy to maximize their results in 2023. Many questions remain unanswered. The global economic slowdown and the eventual extinction of third-party cookies are just a few of the challenges facing marketers and agencies today. 

Due to a macroeconomic slowdown, most major advertising forecasting firms now predict that advertising growth in 2023 will be slower than projected just six months ago.

“Unfortunately, both approaches often offer underutilized opportunities for cost-effective business building,” says Davis. “When facing economic uncertainty, marketers tend to focus solely on performance metrics and customer conversions. Building brand awareness and affinity become an afterthought.”

This is not a new trend; a shift toward lead generation and performance marketing was evident during the pandemic. However, many brands quickly realized that a strong focus on the lower funnel was diluting their brand. “Focusing too much on lead-gen or the lower funnel dilutes the brand,” warns Davis.

Full-funnel marketing offers a solution to this problem. “The more challenging part is exactly how to market effectively across the entire funnel,” says Davis. The answer lies in a combination of creative and media, and data-related techniques. “Creative is a big part of the equation, which can build brand awareness and affinity while simultaneously inspiring more immediate purchases,” says Davis.

Additionally, econometric modeling can help calculate the interrelation of media channels and tactics. A recent  Nielsen study found that brands that added upper-funnel marketing efforts to their existing mid-funnel campaigns were able to boost ROI by 70%.

For brands without the resources for MMM studies, NOVUS created a tool called MMMaxer. This tool leverages anonymized awareness and sales-response curves from other marketers to approximate expected sales and awareness impacts. “This approach allows marketers to cost-effectively estimate the trade-offs of various methods and find the optimal balance for their brand and business goals,” says Davis.

Hyperlocal, ZIP-code targeting is another key strategy for success in 2023. “Geography is destiny,” says Davis. “Whether you’re a national, regional, or local marketer, you can benefit from understanding how location impacts your business.” Local signals can do as good of a job – or even better – than expensive third-party data at a fraction of the cost. Novus’s DeCoder geospatial analytics approach helps marketers determine the optimal ZIP codes to advertise, reducing waste and sidestepping the need for cookies.

“Hyperlocal, ZIP-code targeting can be a reliable, cost-effective method to predict your consumers’ behavior and reach audiences accurately,” says Davis.

Ultimately,  full-funnel marketing and hyperlocal strategies offer a solution for sustained success in 2023. “Considering and optimizing across the full funnel in your media can sustain both short-term business and long-term brand health,” says Davis. “And hyperlocal, ZIP-code targeting can be a reliable, cost-effective method to accurately predict your consumers’ behavior and reach audiences, especially as third-party cookies begin to crumble.”

By Jordi Lippe-McGraw Jordi Lippe-McGraw has been verified by Muck Rack's editorial team

Jordi Lippe-McGraw is a News Columnist at Grit Daily. A multi-faceted NYC-based journalist, her work on topics from travel to finance have been featured in the New York Times, WSJ Magazine, TODAY, Conde Nast Traveler, and she has appeared on TODAY and MSNBC for her expertise. Jordi has also traveled to more than 30 countries on all 7 continents and is a certified coach teaching people how to leave the 9-to-5 behind.

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