CMO Perspectives: Robert Groenendijk Of Electro Ride UAE On Where to Assign Your Marketing Budget and Why
An Interview With Kieran Powell
Your marketing goals and objectives: It is important to ensure that your budget allocation is in line with your intended results and focuses. For instance, if you aim to enhance brand recognition, you may consider channeling additional resources into platforms with extensive outreach and visibility, like social media, PR, or video. On the other hand, if your objective is to drive lead generation and sales, prioritizing investments in channels with notable conversion and retention rates, such as email, SEO, or webinars, could be beneficial.
In an age where marketing landscapes are rapidly evolving and consumer behaviors are constantly shifting, Chief Marketing Officers (CMOs) play a pivotal role in steering their organizations’ marketing strategies towards success. With a plethora of channels, platforms, and techniques at their disposal, the decision on where to allocate the marketing budget is more critical than ever. We’re seeking to explore questions like: What factors influence their decisions? How do they balance between digital and traditional marketing channels? What role does data play in their decision-making process? And importantly, why they choose to invest in certain areas over others? As part of this series, we had the pleasure of interviewing Robert Groenendijk.
Robert Groenendijk is a Netherlands-born business owner who lives and works in Dubai, UAE. He created and leads Electro Ride UAE, a digital marketing firm that focuses on helping electric car and motorcycle businesses. He assists his customers in generating more qualified leads and attaining a higher ROI through creative and efficient marketing methods. He is enthusiastic about supporting green transportation and lowering carbon footprint in the UAE and the rest of the world.
Thank you so much for your time! I know that you are a very busy person. Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
I am a professional in my mid-30s with extensive experience in business and technology spanning over a decade. I began my career in The Netherlands, where I established and managed multiple enterprises in the technology and promotional sectors, achieving significant success. I have always been passionate about progress and technological advancements, particularly in the area of eco-friendly transportation. This led me to relocate to Dubai about three years ago, recognizing the substantial opportunity and interest in electric vehicles. Since then, I have been actively involved in the electric vehicle industry, supporting companies engaged in the sale of electric cars and motorcycles to enhance their market presence and sales. I have formulated and executed impactful marketing approaches utilizing digital platforms, data analysis, and customer behavior insights. Additionally, I have cultivated valuable partnerships with influential figures and collaborators within the sector. I am gratified by the outcomes I have delivered and the influence I have had in advocating sustainable transportation within and beyond the region.
It has been said that our mistakes can be our greatest teachers. Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
When I first embarked on my entrepreneurial journey, I made an amusing mistake that taught me a valuable lesson. I was overeager to secure clients and generate revenue, which led me to offer services without adequate knowledge or preparation. I underestimated the importance of thorough research and groundwork before presenting my services, believing I could simply learn as I went along.
During a meeting with a potential client interested in my digital marketing services, I was asked technical questions about the product’s features, benefits, and pricing. While I attempted to respond to the best of my ability, it became apparent that the client possessed a deeper understanding of the product than I did. This caught me off guard, exposing my lack of expertise. Unsurprisingly, the client was unimpressed and politely declined my offer, leaving me feeling embarrassed and humbled.
This experience taught me never to promote something I don’t comprehensively comprehend or have faith in. It was a realization that honesty and transparency with both customers and myself were essential. I committed to investing more time and effort in enhancing my skills and knowledge, prioritizing the delivery of genuine value and quality over empty promises. Building confidence and credibility in my actions and words became paramount.
Subsequently, I adjusted my sales approach and mindset, focusing on select services and conducting thorough research and practice. Establishing trust and rapport with customers became a priority, demonstrating my capability to address their needs. I also learned the significance of acknowledging when I lack knowledge and seeking assistance or feedback. This mistake contributed significantly to my growth as an entrepreneur and as an individual.
Are you working on any exciting new projects now? How do you think that will help people?
I am currently engaged in an intriguing new project alongside my primary business activities. The project involves extensive research and the development of a comprehensive plan aimed at substituting all petrol delivery bikes in the UAE with electric motorcycles. I strongly believe that this initiative will bring about numerous benefits for the community.
Primarily, it will contribute to environmental conservation by mitigating carbon emissions and air pollution. Electric motorcycles are notably more eco-friendly and energy-efficient compared to their petrol counterparts, as they do not emit harmful exhaust gases or noise. Furthermore, they can be charged using renewable energy sources such as solar power.
Furthermore, this transition will have a positive impact on the economy by generating new employment opportunities. Electric motorcycles are more cost-effective and require less maintenance than petrol bikes due to their simpler mechanics and reduced servicing needs. Additionally, they incur lower operational expenses, including fuel and insurance, thereby resulting in cost and time savings for delivery companies and their clientele. This shift is expected to stimulate the demand and supply of electric vehicles and associated services in the UAE.
Moreover, the adoption of electric motorcycles will enhance societal well-being by improving overall quality of life and health. These vehicles offer a safer and more comfortable riding experience compared to petrol bikes, boasting enhanced performance and handling along with additional features like GPS and Bluetooth connectivity. This can potentially reduce the occurrence of accidents and injuries among delivery drivers and pedestrians, while also contributing to the general populace’s well-being and contentment through a smoother and quieter mode of transportation.
Thank you for that. Let’s now shift to the central focus of our discussion. Can you share an experience where a unique or unconventional budget allocation led to unexpected success in your marketing campaign?
One of the most distinctive and innovative financial investments I made in my marketing strategy was directed toward sponsoring a podcast. Podcasts are not widely recognized or popular as a marketing platform, particularly within the electric vehicle sector. Nonetheless, I chose to take a calculated risk by sponsoring a relevant and influential podcast tailored to my target audience. The podcast, titled “The Future of Mobility,” featured in-depth interviews and discussions with distinguished professionals and pioneers in the sustainable transportation domain.
The decision to sponsor the podcast proved to be immensely advantageous for my marketing endeavors. It significantly heightened brand awareness and piqued interest in my products. Furthermore, it bolstered my credibility and expertise as a trailblazer and authority in the electric vehicle industry. The sponsorship notably drove substantial traffic and leads to my website and social media channels, ultimately resulting in heightened conversion rates and sales by cultivating a devoted and engaged fan base.
Sponsoring the podcast represented an atypical and unconventional allocation of resources, as it diverged from the conventional marketing channels. It also entailed a degree of risk and audacity, necessitating a considerable level of trust and collaboration with the podcast host and producer. However, the venture ultimately yielded exceptional results for my marketing campaign, underscoring the notion that embracing unconventional approaches and venturing into uncharted territories can yield unforeseen triumphs.
How do you balance investing in emerging marketing trends versus traditional, proven strategies in your budget decisions? Can you give us an example?
Balancing between emerging marketing trends and traditional, proven strategies is indeed a challenge faced by marketers. The approach to this balance is not universal and varies based on factors such as business goals, target audience, industry, and budget. However, I adhere to certain guiding principles when making budget decisions.
Firstly, I always commence with a distinct and feasible objective for my marketing campaign. This involves defining what I aim to accomplish, how I will measure it, and why it is significant. This approach ensures that my budget allocation aligns with the desired outcome, helping me steer clear of squandering resources on irrelevant or inefficient tactics.
Secondly, I conduct thorough research on both emerging marketing trends and traditional, proven strategies. I analyze data and evidence to comprehend their strengths, weaknesses, opportunities, and threats. Additionally, I examine best practices and case studies to glean insights from both successful and unsuccessful endeavors. This enables me to evaluate and compare the potential and feasibility of each option, allowing me to select the strategies that best suit my requirements and context.
Thirdly, I engage in experimentation and testing of various combinations of emerging and traditional marketing tactics. I allocate a small portion of my budget to run pilot campaigns, enabling me to measure their performance and impact. Furthermore, I gather feedback and insights from customers and stakeholders to understand their preferences and behavior. This iterative process aids in optimizing and refining my marketing mix, facilitating the discovery of the optimal balance between innovation and reliability.
An exemplary instance of these principles in action was during the launch of a new electric motorcycle product in the UAE market. With the intention of creating awareness and demand for the product while setting it apart from competitors, I allocated 70% of my budget to traditional, proven strategies such as email marketing, SEO, and PR, and 30% to emerging marketing trends including influencer marketing, video marketing, and podcast sponsorship. This ratio was chosen to leverage the trust and credibility of traditional channels while tapping into the reach and engagement of emerging ones. By conducting several experiments and tests to determine the most effective combination of tactics and channels, and closely monitoring and analyzing the results and feedback, I achieved a successful and well-balanced marketing campaign that not only met my objective but also surpassed my expectations.
In what ways has data-driven decision-making influenced your approach to allocating marketing budgets, and can you provide an example of this in action?
Data-driven decision-making has significantly influenced my approach to allocating marketing budgets in the following ways:
Identifying Effective and Efficient Marketing Channels
– Utilizing data to identify the most effective and efficient marketing channels and tactics tailored to my goals and audience.
Budget Allocation Based on Expected ROI and Actual Performance
– Allocating the budget based on the anticipated return on investment and the real performance of each marketing channel and tactic.
Optimization and Adjustment of Budget Allocation
– Optimizing and adjusting budget allocation based on feedback and insights derived from data and customer interactions.
Example in Action: Marketing Campaign for a New Electric Car Product
During a marketing campaign for a new electric car product in the UAE market, data was pivotal in shaping the strategy:
– Utilized data from various sources including market research, customer surveys, web analytics, and social media analytics to comprehend the needs, preferences, and behavior of the target audience.
– Leveraged data from previous campaigns and industry benchmarks to assess the effectiveness and efficiency of different marketing channels and tactics.
– Allocated the budget based on data-backed potential and performance of each channel and tactic, establishing key performance indicators and metrics to measure the impact.
– Continuously monitored and analyzed data throughout the campaign, gathering feedback and insights from customers to optimize and adjust the budget allocation, ultimately enhancing outcomes and achieving campaign objectives.
How do you evaluate the ROI of different marketing channels and decide where to invest more or cut back?
To evaluate the return on investment (ROI) of various marketing channels, I employ a blend of quantitative and qualitative methodologies.
Quantitative Methods
I assess the effectiveness of each channel through quantitative metrics including:
- Cost per Acquisition (CPA): Average expenditure to acquire a new customer.
- Customer Lifetime Value (CLV): Estimated net profit generated by a customer over their relationship with the business.
- Return on Ad Spend (ROAS): Ratio of revenue generated by ads to the amount spent on the ads.
- Conversion Rate (CR): Percentage of visitors who complete a desired action.
Qualitative Methods
I gather and analyze feedback and insights from customers and the market, focusing on:
- Customer Satisfaction (CSAT): Degree of customer happiness and contentment with the product or service.
- Net Promoter Score (NPS): Likelihood of customers to recommend the product or service to others.
- Brand Awareness (BA): Extent of customer recognition and recall of the brand name and image.
- Brand Loyalty (BL): Level of customer loyalty and commitment to the brand and its products or services.
Based on your experience and success, what are the “5 Things To Keep in Mind When Deciding Where to Assign Your Marketing Budget, and Why?”
- Your marketing goals and objectives: It is important to ensure that your budget allocation is in line with your intended results and focuses. For instance, if you aim to enhance brand recognition, you may consider channeling additional resources into platforms with extensive outreach and visibility, like social media, PR, or video. On the other hand, if your objective is to drive lead generation and sales, prioritizing investments in channels with notable conversion and retention rates, such as email, SEO, or webinars, could be beneficial.
- Your target audience and market: It’s essential to comprehend the requirements, inclinations, and actions of both your potential and current customers, along with the trends and openings within your industry and specific market segment. For instance, if your target audience comprises tech-savvy young individuals, considering greater investment in channels that resonate with them, such as influencer marketing, podcast sponsorship, or gamification, could be advantageous. Conversely, in a fiercely competitive and saturated market, prioritizing investment in channels that facilitate differentiation and distinctiveness, like content marketing, SEO, or personalization, may prove beneficial.
- Your marketing performance and ROI: It’s important to evaluate and compare the performance and productivity of each marketing channel and tactic, and adjust your budget based on the anticipated and actual return on investment. For instance, if a channel demonstrates a low cost per acquisition and a high customer lifetime value, it may warrant increased investment as it generates greater revenue and profit than its costs. Conversely, if a channel exhibits a high cost per acquisition and a low customer lifetime value, reducing investment in it may be prudent as it costs more than it generates.
- Your marketing mix and balance: It’s advisable to broaden and enhance your marketing mix while striking the right equilibrium between various types of channels and tactics. For instance, you could achieve a balance between digital and traditional marketing channels, encompassing both online and offline ads, web and print media, among others. Additionally, finding the optimal balance between emerging and established marketing trends, encompassing new and established platforms, techniques, and technologies, can be beneficial.
- Your marketing experimentation and innovation: It’s beneficial to engage in experimentation and testing of various combinations of marketing channels and tactics, and designate a segment of your budget to explore new and inventive concepts. For instance, you could conduct trials with different iterations of your ads, landing pages, or emails, and assess their impact and outcomes. Additionally, exploring new and unconventional channels and tactics, such as VR, AR, or AI, to gauge their performance and resonance with your audience, can be advantageous.
Could you discuss a challenging budget decision you faced, how you navigated it, and the impact it had on your overall marketing strategy?
One of the most demanding budget decisions I encountered was when I had to allocate my marketing funds for the introduction of a new electric car product in the UAE market. With limited resources and a tight schedule, I had to weigh the options among several marketing channels and tactics to attain my objectives.
The primary challenge was determining the appropriate investment for each channel and tactic while striking a balance between the quality and quantity of my marketing endeavors. My aim was to develop a high-quality, impactful marketing campaign capable of reaching and influencing a broad and diverse audience, all while being judicious and effective with my budget.
To address this challenge, I adopted a data-driven and customer-centric approach. I leveraged data from diverse sources, including market research, customer surveys, web analytics, and social media analytics, to comprehend the needs, preferences, and behavior of my target audience. I also utilized data from prior campaigns and industry benchmarks to assess the effectiveness and efficiency of various marketing channels and tactics, such as email, SEO, social media, video, PR, etc.
Guided by the data, I allocated my budget to the channels and tactics that exhibited the highest potential and performance for my campaign. Additionally, I established key performance indicators and metrics to gauge the results and impact of each channel and tactic. Throughout the campaign, I meticulously monitored and analyzed the data, gathering feedback and insights from customers. This information was then used to refine and adjust my budget allocation to enhance outcomes and achieve my goals.
This budget decision significantly bolstered my overall marketing strategy, leading to:
– Increased awareness and sales of my new electric car product in the UAE market.
– Engagement with a broad and diverse audience across various channels and platforms.
– Establishment of my brand as a leader and innovator in the electric vehicle industry.
– Maximization of the return on investment and the value of my marketing campaign.
– Enhancement of my marketing skills and knowledge through learning and improvement.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
If I could initiate a movement that would generate the greatest positive impact for the largest number of people, it would be to advocate and bolster electric vehicles (EVs) as the future of mobility. I firmly believe that EVs not only represent a superior and more intelligent mode of transportation, but also offer a means to make a beneficial impact on the environment, the economy, and society.
The advantages of EVs are numerous and indisputable. They are notably more eco-friendly and energy-efficient compared to traditional vehicles, emitting no harmful greenhouse gases or pollutants that contribute to global warming and air quality concerns. Additionally, they rely on renewable energy sources such as solar, wind, or hydro power for charging, diminishing reliance on fossil fuels and enhancing energy security and diversity.
Moreover, EVs are more cost-effective and convenient than conventional vehicles, with lower operating and maintenance costs due to fewer moving parts and reduced servicing and repair needs. They also incur lower fuel and insurance expenses, consume less energy, and face a lower risk of accidents and thefts. Furthermore, they offer enhanced features and options, including smart and connected technologies that elevate driver and passenger comfort and safety.
Innovation and attractiveness are also hallmarks of EVs, characterized by superior performance, design, acceleration, speed, handling, and aesthetics. They also boast substantial potential for further development and improvement, encompassing battery capacity, range, charging speed, and infrastructure. Additionally, they embody a vision and value of sustainability and responsibility that resonate with customers and stakeholders.
By spearheading a movement to advocate and support EVs, my objectives would include:
– Raising awareness and educating the public about the benefits and advantages of EVs, dispelling myths and misconceptions surrounding them.
– Encouraging and incentivizing adoption and usage of EVs among consumers and businesses, fostering a dedicated and engaged community of EV enthusiasts and advocates.
– Collaborating and partnering with governments, regulators, manufacturers, suppliers, dealers, and service providers to create a supportive policy and market environment for EVs.
– Fostering and facilitating research and innovation in the EV field, supporting the development and implementation of best practices and standards.
– Inspiring and influencing transformative change in the mobility sector and society at large, contributing to global goals of environmental protection, economic development, and social welfare.
How can our readers further follow your work online?
If you are keen to stay updated on my online activities, you can visit my website where I share my most recent projects, insights, and tips on electric vehicles and digital marketing. You can also follow me on my social media platforms where I post updates, news, and stories about my work and life. You can find me on Instagram, Facebook, and LinkedIn using the links below:
– Website: https://www.electrorideuae.com
– Instagram: https://www.instagram.com/electrorideuae
– Facebook: https://www.facebook.com/profile.php?id=100094145643906
– LinkedIn: https://www.linkedin.com/company/electro-ride-uae/
I would love to connect with you and hear your feedback and questions.
This was very inspiring. Thank you so much for joining us!
About The Interviewer: Kieran Powell is the EVP of Channel V Media a New York City Public Relations agency with a global network of agency partners in over 30 countries. Kieran has advised more than 150 companies in the Technology, B2B, Retail and Financial sectors. Prior to taking over business operations at Channel V Media, Kieran held roles at Merrill Lynch, PwC and Ernst & Young. Get in touch with Kieran to discuss how marketing and public relations can be leveraged to achieve concrete business goals.
CMO Perspectives: Robert Groenendijk Of Electro Ride UAE On Where to Assign Your Marketing Budget… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.