The RACE Framework Explained
The RACE framework is a multichannel marketing model. The aim of this model is to convert audiences into paying customers. The steps involved in converting an audience into a paying customer can be achieved via online or offline channels. In this article, we’ll explain how RACE works and discuss why it is a useful model. Also known as PRACE, it’s also sometimes referred to as the omnichannel marketing model.
The primary showcasing channels are search engines, online journals, and social networks. These advertising channels are where advertisers need to track traffic and measure their progress to reach the stage. The main period of these channels is focused on showcasing to potential clients. Returning clients are more important than ever. Consequently, the RACE Framework helps marketers make their ad campaigns more effective and profitable. Listed below are some steps that will help you make the most of the RACE framework.
The RACE Framework has three major stages: Engagement, Act, and Conversion. The Engagement stage focuses on the overall interaction between the customer and the brand. During this stage, visitors can perform actions like requesting a quote, searching for a product, browsing through a blog post, or learning more about a company. These are top-level goals that should be analyzed and mapped in analytics. If a visitor doesn’t take any action in the Act stage, they may be in the wrong place.
While all marketing campaigns need KPIs to measure success, the RACE model is unique in its simplicity. The framework includes KPIs for each stage. These are typically measurable, achievable, relevant, and time-bound. A successful campaign should be measured against SMART KPIs. Ultimately, these measures will help you measure the value a visitor brings to the brand. For example, if a visitor clicks on a link from your website, this means they’ve been engaged in some way and are likely to make a purchase in the future.
The RACE Framework explains Reach. The Reach stage aims to generate exposure for a product or brand. Reach stage is critical for a new product or brand, because early exposure leads to higher ROI. Paid, owned, and earned media are used to reach the audience in the Reach phase. If you use paid, earned, or both, you can use the RACE Framework to maximize your reach. So, what are the goals for the Reach stage?
When creating the marketing roadmap, prioritize your activities and expenses by team. Then, determine how each task affects the overall goal of your campaign. The REAN model is similar to the RACE Planning framework. The goal of a marketing roadmap is to prioritize tasks and activities, but it’s not enough to make an accurate map of your marketing efforts. Instead, prioritize your goals by team to avoid wasting time determining which ones are most important.
RACE also has a social element. For example, social media allows you to build a strong community, generate brand awareness, and drive traffic to your TOFU content. Social media marketing should be optimized and focus on your social profiles. If you’re implementing a social media strategy, set up goals and monitor the KPIs. Then, measure and analyze your results. And, most importantly, remember: always be strategic!