All health brands are looking for the best metrics to evaluate just how well they’re gaining more customers, and ultimately, more revenue. But, a large piece of the formula lies in understanding response versus engagement. Most business owners are confused by both terms and why they even matter, but truth be told, responses are pivotal for health brands to grow.
Response vs. Engagement – What’s the difference?
Engagement is the concept of bringing awareness to your business, services, or products. Think of it as the campaign between the two that lures people in to read your content, share a post, follow an account or make a quick comment. It’s found at the top of the funnel when you’re bringing awareness and capturing your target audience’s interest through boos posts and advertisements.
On the other hand, the response has a more direct approach and purpose: to drive revenue to a business. You can find the marketing tactic in the middle to later part of the funnel that focuses more on desire and, lastly, action. Email and phone inquiries, email subscriptions, and costs per click are essential to track in this stage. Other key performance indicators, such as analyzing the return on investments, are also used to evaluate its success. A response or direct reaction should not be confused with conversions, which is the final sale or sign up – the last part of a transaction.
Which one is more important?
It’s important to remember that you should pick only one part of the marketing funnel and activities as the most significant one. Otherwise, it can be overwhelming and misuse funds if a business does not properly allocate its resources in the right direction.
A health brand that chooses to prioritize engagement over all other factors can expect to blow their budget a lot of money on branding. There is such thing as “overdoing it,” and focusing on engagement too much won’t necessarily give the results a brand is looking for in the long term. Conversely, a brand that concentrates on conversion too much will be underinvesting in some areas. It’s vital to tend to a primary audience. Still, it’s just as crucial to expanding a customer base, and the only way to do that is through increasing branding initiatives.
The sweet spot is in the middle of the marketing funnel, dominated by customer response. It incorporates some of the components found in engagement and creates a foundation for furthering transaction success, impacting the conversion rate. By putting response rates metrics at the top of the to-do list, there is a perfect balance between growth marketing and achieving a return on investment.
And when there’s a return on investment, you can guarantee that the road to greater profits becomes brighter and far more attainable!