In short, the goal of a monetization campaign is to make profitable sales offers to the leads and customers you acquired with your Acquisition campaigns. Engagement campaigns are all about making customers interact with your brand.
A Monetization campaign is needed if you want to sell more to existing customers or to sell expensive, more complex products to maximize profits. These types of campaigns are made to make profitable sales offers to the leads and customers that have been acquired via acquisition campaigns. Monetization campaigns should only be created after you have leads, subscribers or existing customers. These campaigns are meant to sell more, to those who already know about your business and have their trust in your solution/product. The journey in a monetization campaign is different from an acquisition campaign.
Monetization campaigns are set to excite your already existing customers, which have spent time learning something from you, or purchased something from your business. Every couple of buyers would have bought more, or more often if given the chance. This is a recurring theme for people who buy expensive things such as limited jewelry, if given the opportunity they would buy an even more expensive piece. This concept is one to evaluate and pay close attention to, and your monetization campaigns should capitalize on it, by making offers that increase the value of your existing leads and customers.
This type of campaign is used if it is in your plans to obtain new customers and/or move new leads from being prospects to dedicated fans of your brand, or to build a community around your brand… and anything which has a social aspect in it really. Companies that manage to create a ground where prospects and customers interact are usually very successful. These companies benefit heavily from these activities, and the benefit is about making profit.
Advocating takes into account creating marketing campaigns which give your customers the ability to tell their friends about your brand through testimonials etc. These people defend your brand on social media and recommend your products to others. The people that promote your business are your most valuable asset. The type of customers that create blogs or YouTube videos are exactly what you need. They tell stories about your brand and about their success whilst using your products/ services etc.
In order to engage brand advocates your product has to be of superior quality, no one will want to ruin their image in the blogging or vlogging world and promote a bad product. If your product is of bad quality, there will be bad experiences spreading about your product, and in the digital world, it happens extremely fast.
In summary, when the three campaigns: Acquisition, Monetization and Engagement; are done in the right way, the customers move seamlessly through their journey. These strategies help people gain positive vibes from your product and allow your business to guide the customer every step of the way.
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