Hankins Hexagon, Share of Search and Digital Availability
James Hankins shares very thoughtful ways to re-examine a more effective model of the customer journey, how to predict revenue through Google Trends and suggests why we should reconsider digital ads budgets as store rent.In this episode, our host Marc Binkley interviews James Hankins, Founder at Vizer Marketing & Strategy Consulting. In 2020, James' novel ideas on Share of Search, the Hankins Hexagon and Digital Availability were featured by Marketing Week, IPA and WARC. James was recognized for his contribution of leading change in the marketing world when he was named as one of Marketing Week's Change Makers in 2020.Prior to starting his own consulting company, James was the Strategy Director and Head of Integrated Planning at a number of agencies. He is a contributor at Marketing Week Magazine, WARC and Mentor at IPA (International Practitioners of Advertising). Finally, he's an In-demand speaker on all of the topics we’ll be discussing today.
1:40 – Introducing James Hankins
4:04 – The shortcomings of the traditional purchase journeys like the AIDA sales funnel, McKinsey’s consumer decision journey and growth through customer loyalty
10:46 – The problem the Hankins Hexagon tries to solve
13:19 – The nodes and metrics of the Hankins Hexagon
21:46 – How the Hankins Hexagon can help increase marketing effectiveness
25:05 - What is Share of Search and where does it fit in the customer journey?
29:55 - How exactly to use Share of Search
35:51 – The challenges with Share of Search data and how to overcome data variability
38:08 – How search data insights can be used as an opportunity for any company
40:01 – How to use Share of Search if you’ve got more than 4 competitors
41:32 – An example for how SaaS companies can use Share of Search to track impact
43:41 – Digital Availability: digital ads may not be advertising at all
48:25 – Why digital ads are more like physical stores than advertising
51:10 – How some Direct-To-Consumer (DTC) brands manage Digital Availability
54:33 - The three different levers to grow brands: Mental, Physical and Digital Availability
58:52 – Find out more about James Hankins
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