Reach, Act, Convert, Engage – The RACE Framework Explained
The RACE framework is a comprehensive approach to multichannel marketing that aims to convert prospects into paying customers. Each stage has its own goal, but all of them aim to reach your audience and engage them. Reach stages aim to build brand awareness and educate your audience about your products. They also aim to increase traffic to your web properties and introduce your brand to a specific segment. To use this framework effectively, you need to understand the differences between each stage.
The RACE framework can also be called PRACE, but it has a better ring to it. The framework helps marketers develop new segmentations, target them online, and place their value proposition in the digital space. It also provides a defined process for measuring progress and setting objectives. The best part of this framework is that it integrates offline and online channels to provide a seamless customer experience. However, traditional media channels are still an important part of reaching your audience. They should be used alongside your online presence, if you want to build brand loyalty.
The RACE framework consists of four steps, which reflect the customer’s journey and lifecycle. It focuses on reaching your target audience and driving traffic to your website portals. The initial phase of the Plan involves creating an integrated digital strategy, setting objectives, and resourcing for your marketing activities. The fourth phase is a continuous cycle of engagement, where your brand interacts with its customers and converts them into paying customers.
Getting to Reach stage involves creating awareness about your brand in offline media and driving traffic to your online presence. The aim is to maximize your reach over a period of time by creating multiple interactions through various channels such as owned, earned, and paid media. If your product or service is new, it is important to start in the Reach stage as early exposure will result in higher return on investment. Reach stage can be achieved using a combination of paid, owned, and earned media.
The RACE Framework is a systematic approach to multichannel marketing. It’s a proven method that can be applied to any size business online. The goal is to drive your audience from awareness to conversion – converting your audience into paying customers. The RACE Framework is composed of four steps, each one requiring a distinct approach. The final step involves measuring the success of your campaign in each stage and using data to guide your marketing activities.
Tracking unique visitors, bounce rate, and revenue per visit helps you understand the true value of each new visitor to your website. Google Analytics can help you track these KPIs, and you can even use a third-party tool to create revenue goals. The key to revenue goals is to customize Google Analytics and set up goals. The more customizing you make Google Analytics, the more accurate your data will be. But that’s not all. Revenue tracking is an integral part of any marketing strategy.
KPIs and objectives are vital in marketing. The RACE framework has specific KPIs for each stage. For example, website traffic is derived from search engines, social media sites, and media outlets. The KPIs must be tied to revenue per visitor. Your website’s KPIs should also show progress over time, based on the value generated by each visitor. The KPIs should be measured and tracked on a regular basis to track your ROI.
Google Analytics reports can also help you track various KPIs. But to make them as accurate as possible, you must customize Google Analytics to suit your business. Fortunately, RACE includes a comprehensive reporting dashboard using Google Analytics API and Google Docs Sheets. You can also set up interactive monthly reporting dashboards using Google Docs Sheets for easy, quick, and convenient reporting. And don’t forget about the other benefits of the RACE Framework.
Netflix has successfully implemented the RACE framework in its marketing strategy. They highlight the best content and create original series to hook the right audience. In other words, they are omni-channel, combining both online and offline channels to create a seamless experience. And this approach works perfectly for a small business, as well as a large corporation. It makes the most of every resource. It also makes the RACE Framework useful for both large and small companies.