Unleashing Measurable Growth with the RACE Framework
How vvast invest in the whole brand experience
In the ever-evolving world of digital marketing, staying on top of your performance and effectively monitoring your marketing efforts is crucial. That’s where the RACE framework comes in. Originally designed to help marketers monitor and report on their digital marketing activities, the RACE framework provides a strategic approach to drive results across each stage of the customer journey.
At vvast, we’ve fully embraced the power of the RACE framework and developed our own dashboard to track and measure the effectiveness of our marketing activities at every stage. By leveraging this comprehensive framework, we ensure that all our marketing initiatives are aligned with relevant objectives and deliver measurable results. With the vvast RACE dashboard, you can navigate the digital landscape with confidence and propel your brand towards success.
By leveraging the power of data-driven insights and tailored objectives, vvast empowers ambitious brand leaders to unlock the full potential of their direct-to-consumer (D2C) channels. In this article, we explore the key components of the RACE framework and how it can propel your brand towards success.
RACE for Sustained Success
The RACE framework addresses crucial needs in digital marketing, ensuring that businesses focus their efforts on the right areas and align their digital activities seamlessly. By utilising relevant key performance indicators (KPIs) tailored to each stage of the framework, brands can make informed decisions and measure the impact of their initiatives accurately, building traction over time.
The integration of GA4 reporting guarantees precise metrics, while the inclusion of offline activities ensures a comprehensive approach that encompasses all brand touchpoints. Consistency in brand messaging, visuals, and truths throughout the customer journey further reinforces brand equity and supports sustainable growth.
R – Reach – Increasing Brand Awareness
The first phase of the RACE framework is all about increasing brand awareness. By targeting affinity audiences and relevant consumer profiles, vvast helps brands put their propositions in front of the right people who will engage and relate to their message. Key metrics such as reach, impressions, views, and listens guide brands in assessing their reach and visibility in the market, without directly tying them to revenue or sign-ups.
We know from Les Binet and Peter Field’s work that investing in brand helps improve sales performance over time. This stage is the big unlock for a brand, especially if they are stuck in the cycle of only investing in the performance marketing stage of the marketing funnel.
A – Act -Driving Customer Action
The Act phase focuses on driving customer action and engagement. Brands are encouraged to prompt consumers to actively engage with their brand by visiting their website, following social media channels, or spending more time exploring content. Metrics such as follows, shares/likes/saves, time on site, and clicks become essential indicators of brand engagement and interest.
C – Convert – Turning Engagement into Sales
In the convert phase, the emphasis is on turning engagement into sales or generating leads. vvast helps brands optimise their efforts to encourage customers to make a purchase or convert new site visitors into marketing sign-ups. Key metrics such as sales, conversion rate, cost per acquisition (CPA), add to cart, and abandoned checkout are tracked to ensure effective conversion strategies.
E- Engage – Cultivating Brand Advocacy
The final phase, engage, aims to cultivate brand advocacy by nurturing a loyal customer base. Brands are encouraged to seek feedback from customers, encourage social media engagement, and reward advocacy with exclusive offers. Metrics like customer lifetime value (LTV), repeat customer rate, brand mentions, and reviews left gauge the level of customer engagement and brand loyalty.
Quarterly Objective Setting
To ensure continuous improvement and alignment with business objectives, brands must regularly evaluate the market landscape, monitor competitors’ activities, assess shifts in the target audience, and identify emerging skills within the team.
Quarterly objectives should be set in advance, and regular reviews should be conducted to evaluate results and plan for the next quarter. Ad hoc objectives can be carried forward to subsequent quarters, ensuring a flexible and adaptive approach.
Driving Brand Equity & Sales with vvast
Deploying vvast’s RACE dashboard helps provide a structured and strategic approach for brand leaders seeking to maximise their sales and drive brand advocacy in the D2C channel. By implementing the RACE methodology, brands can effectively navigate the customer journey, measure their performance with relevant KPIs, and leverage data-driven insights to make informed decisions.
With vvast as a trusted partner, brands can unlock growth opportunities, strengthen brand equity, and stay ahead of the competition in an ever-evolving digital landscape all while keeping a firm eye on what the bottom line is doing.
Are you ready to propel your brand towards success with vvast’s RACE dashboard?