New Balance used Hookit data and insights to identify its most valuable content to reach ROI goal of 300%.
How New Balance Leveraged Data To Identify Valuable Content
How New Balance Leveraged Data To Identify Valuable Content
New Balance used Hookit data and insights to identify its most valuable content to reach ROI goal of 300%.
The Challenge
The New Balance Marketing team had an ambitious goal of increasing the effectiveness of their marketing spend by 3x and to right size their production-to-media ratio.
The Solution
In order to achieve these ambitious growth goals with a strict budget, New Balance worked with Hookit to evaluate the effectiveness of social content. The partnership led to significant strategic shifts, including –
– Content production go/no-go decisions to reduce wasted budget on content that doesn’t drive engagement or brand attribution.
– Social media paid investment modelling through a data-backed strategy that focuses on optimizing spend towards posts that drive the highest value rather than social budgeting based on a product calendar.
– Media and production reallocations for the coming fiscal year that’s rooted in value return on investment and marketing effectiveness.
The results
Upon making decisions based on data and value provided in the Hookit platform, New Balance:
– Saw an average increase of content value ROI of 3X from 1:1 to 3:1
– Developed an optimized paid social investment strategy yielding a 50% higher value return than their average paid social campaign
-Established a new production-to-media ratio to ensure that each piece of content in the market has a meaningful level of spend that will result in a positive value return on investment
– Global alignment around digital KPIs, value measurement and effectiveness going forward
"Hookit data and insights have given us the power to make smarter content and sponsorship decisions that have boosted our content marketing ROI by 3X" - Ian Fitzpatrick, Head of Global Content and Digital Marketing, New Balance