From a media planning perspective, you can assign each business unit unique OKRs and KPIs that contribute to topline goals. This is particularly important to account for the element of real-time spend optimization. When you align on KPIs early in planning, you can select channels with both business objectives and AI-driven optimization in mind.
Client Example: Coegi works with a regional bank client with multiple business units: consumer banking, commercial banking and home equity. We have a unique audience-targeting strategy for each line of business using behavior-based indicators to ensure we’re reaching a qualified audience. However, every unit shares one core goal: growing new customers. As such, all media KPIs ladder up to that goal and drive the business in a cohesive and clear direction.
#2 – Create ecosystems surrounding each core audience group
Take an audience-centric approach to media planning by using data and research to gain a deep understanding of core audience behaviors and values. This foundation will inform media and messaging decisions that reduce wasted impressions and build more authentic relationships.
Apply this knowledge to build and nurture a marketing ecosystem surrounding each unit’s unique audience(s). For example, Coegi worked with BODYARMOR to expand and differentiate the brand in the crowded sports drink marketplace. They were looking to identify and reach new audiences for three distinct product lines: BODYARMOR Original, Lyte (sugar-free) and Edge (caffeinated).
We created microtargeted audiences for each line, including: Blue Collar Workers, Grocery Gatekeepers, Veterans, Teenage Athletes and Health-Focused Adults. For each audience, we built a custom media plan and recommended messaging strategy – creating an ecosystem of organic touchpoints in their day-to-day lives. Read the full BODYARMOR case study here for more details.
#3 – Optimize the B2B2C experience
Oftentimes, multiunit enterprises need to reach both professional and consumer audiences – requiring marketers to take a B2B2C approach. These brands need a marketing strategy that facilitates a conversation between the business and the end consumer, meeting them where they are in their level of awareness and knowledge.
The business customer typically requires more brand-building content. Focus on ways to drive brand recall, establish a unique value proposition (UVP), and communicate benefits to their lives. VP of Marketing at Notion, Kate Rojas, quotes, “In a true B2B2C business model, your partners must be viewed as a true business partner and not just a channel to sell more products…”
In the spirit of partnership, create a mutually beneficial system. For instance, if you are a financial brand communicating with advisors, sell them the offering that provides the quickest conversion or highest value reward. Then, use that inertia to help them cross-sell using your entire portfolio. This will benefit their bottomline while helping you establish loyal consumers who are invested in multiple offerings.
Consumers, on the other hand, typically require more basic education about the category itself and the value it offers. This is especially true for more complex and regulated industries, such as finance, IT and healthcare.
Client Example: Coegi uses a B2B2C content marketing strategy focused on driving brand awareness for our client, Athene, a leading retirement services company. Their end customers often need general education on the importance of retirement annuities. Financial advisors need more technical content about the brand’s benefits. Knowing this, we tailor content to their unique needs within one intertwined strategy so that the B2B and B2C units work together in support of the brand’s goal.
#4 – Build a comprehensive, cross-unit measurement framework
Even with unique campaigns by brand, product, or division, it’s critical to share and apply key takeaways. Insight sharing across units helps avoid a siloed view and allows the business as a whole to optimize more efficiently.
This is also imperative for flexible budget allocation. When all units are part of an integrated strategy, budget can be allocated to the strongest performing lines, as determined by a test-and-learn approach.
For specifics on how to create a unified measurement framework, view our 5 Step Guide to Measuring Marketing ROI.