Shifting marketing efforts for the digital landscapeSunday, May 16, 2021
By Nichole Brackett Walters
In the age of digital marketing, consumers hold the power. Marketers operating in the new dynamic must now provide the opportunity to engage with the customer on a personal level as opposed to lumping him or her in a market segment. Since consumer lifestyle has shifted significantly towards the Internet, so, too, should marketers. By relying on real-time data on customer behaviours, marketers must seek to deliver value for customers in the ways they want it.
Here are some ways to deliberately refocus your marketing efforts:
1. Use data to drive marketing decisions
Identifying and understanding your target market is critical and it is also important to anticipate the needs of your consumers. The use of data in defining and fully understanding your target market is necessary since from this, one may clearly establish the target audience and more easily determine where and how to reach them.
Additionally, leveraging data and analytics are key in determining and reporting on the efficiency of marketing investments made. As marketers, we must be comfortable with tools such as Microsoft Excel, as the manipulation of data is a skill we must perfect.
Are you collecting and using customer data today? Doing so presents a myriad of opportunities, as data-driven marketing enables us to use personalised content, which leads to increased engagement among the target audience. It is important to monitor and identify which content resonates most with the audience so you can tweak and use content that will drive increased and continued engagement.
Assessing consumer data, analysing market and consumer trends, reviewing research reports and calculating return on investment (ROI) are just a few ways in which marketers interact with data. According to Marketing Evolution Buyer's Guide 2019, the use of analytics in marketing was 52.7 per cent. They also highlighted that data-driven marketing is a top priority for marketing leaders – 40 per cent of organisations aim to increase data-driven marketing budgets, and 64 per cent of marketing leaders report that data-driven strategies are vital in today's economy. The top usages were:
• Customer journey mapping / analysis
• A/B testing
• Website personalisation
2. Use technology to digitise your marketing
With improved technology and the acceleration and proliferation of the digital marketing solutions, the marketing landscape has transitioned to become a fast-paced, automated engine that is truly dynamic. As marketers, we are forced to keep up with digital transformation and so increasingly, businesses are implementing their marketing technology stack to drive efficiency and attract and engage customers in meaningful and personal ways while using technology.
So, what is a marketing technology stack (aka “martech”)? Simply put, a marketing technology stack is a grouping of technologies that marketers leverage to conduct and improve their marketing activities. The objective is to make difficult processes easier, and to measure the impact of marketing activities and drive more efficient spending.
Traditionally, there was reliance on face-to-face interactions with customers to promote your business or introduce new products? Technological tools such as e-commerce platforms, mobile chat platforms and social media are now unquestioned avenues for spreading the word. Marketers must ensure that the most effective channels are used to keep customers informed about all options available to them when doing business.
While marketing technology stack will be heavily influenced by your budget, there are many low-cost and, in some cases, free tools that can be used until you are able to adopt more sophisticated tools.
3. Continuously assess and monitor the outcomes
Use analytics to assess whether your marketing strategy is working and continuously revise to ensure effectiveness. Assess the growth and impact of your marketing investment and identify what is most optimal. Continuously test and learn so the relevant tweaks can be made in order to enhance the outcomes of your marketing programme.
By successfully doing this, you will be well on your way to creating greater efficiency with your marketing programme and be better able to assess and report on its success.
Nichole Brackett Walters is a Certified Professional Marketer (PCM®) with over 20 years' experience in strategic marketing development and application. Brackett Walters is a member of the American Marketing Association (AMA). Follow her blog at marketingmoves.net or on LinkedIn.
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