The New Era of Digital Marketing
Traditional marketing campaigning is coming to an end. Mckinsey’s David Edelman explains how companies are not efficiently performing when it comes to digital marketing and what changes need to be made in order to engage consumers in this new phase.
Due to the fact that most companies think in terms of campaigns, they periodically want to secure interest in the marketplace through promotions. What digital marketing allows a company to do is flip the model around and say, “There’s something about what we have to offer that should be connecting with them.”
A Difference in the Marketing Model
Digital Marketing allows you to have something for every market and use the data that you have about an individual. The search term that they used to access your brand, or how they have found your website, also the social engagement they have had with your brand all point to a completely revolutionized process of engagement with the customer.
The idea of having something for everyone is very different from the traditional marketing model of saying, “OK, what should our campaign be? What do we need to promote? Let’s work with the agency and come up with something creative as we target a group of customers. Let’s just get this thing out and push it to them.” The fact is, digital is faster.
What companies can get wrong in terms if digital marketing is that regales of stumbling blocks that are seen regularly, a company can actually get around. The important key to understand is that one should be thinking about what data a company will need for creating an integrated customer-data warehouse, and how they can create a lightweight way of bringing it together.
The second challenge roves around organizational impediments of getting people to work together. I tis important for a company to look at the customer journey in totality as they touch your mole site, talk to somebody over the phone, or go into a store. It is all one journey and the company has to be able to unite all it’s divisions and get people to work together.
Lastly, it is important to work through trial and error. Testing and learning is a crucial element of digital marketing, or any marketing for that matter. One of the best ways to practice is through small-scale pilots. This is when a company picks a small, specific segment of customers, a few products, and starts with a test to learn how to improve things within that small trial.
Overall, companies must be ruthless when it comes to prioritization of data, people working together, and creating a rapid-cycle test to learn if your efforts will have a successful outcome in the bigger picture.
Digital is always growing, so it is also crucial to apply this method to anything that digital is going to throw your way.