Just Eat has revealed it has put “acute” measurement tactics in place to gauge the performance of its marketing campaigns.
According to Chief Marketing Officer Barnaby Dawe, the company spends a “whopping” amount on marketing.
This, he said, means it is important to track the results of every campaign very precisely, so its board and senior executives know this money is “being well spent.”
Mr Dawe insisted that a sizable marketing spend is necessary because it is a high-growth business, but stressed it still wants to use its budget efficiently.
“The ratio of marketing spend to revenue gets lower as we get older,” he observed.
“Our marketing budgets might increase but they shouldn’t increase at the same rate as revenue.”
Social media looks set to be one growth area in the coming year, as Just Eat wants to double the amount it spends on promoting its brand via Facebook.
Mr Dawe said this is because the platform enables the business to talk about its brand in an engaging way and drive conversions.
He also confirmed that Just Eat is looking towards emerging technologies such as artificial intelligence and virtual reality to continue reaching consumers and stay ahead of its competitors.
However, he cautioned that marketers must not focus too heavily on the near future and instead need to look at the bigger picture.
“A lot of [digital-only] businesses make the mistake of investing for the short-term and not building a brand story,” Mr Dawe added.
Just Eat: ‘Marketing is the biggest spend in the business’ Marketing Week