Are you one of the companies that has a designated marketing technology budget? Hopefully so, because marketing technology is one of the fastest returns on investment that you need to implement this year. TV, Radio, and Print ads are becoming obsolete (as far as ROI is concerned), as customers are online through on their smart phones interacting with social media. Even Nielson Ratings has created a new category by monitoring digital (dynamic) engagement through social media. Report after report confirms emerging marketing technologies have the ability to drive customer engagement and ultimately revenue through marketing technology!
If your company hasn’t implemented a marketing technology strategy, and you feel you don’t have the ‘human capital’ resources to get started, hire a vendor. Great marketers utilize multiple resources available to them through vendors to create a presence where customers are. Focus on marketing initiatives that are where customers are spending their time and leave them with a great impression of your company. Remember to build customer engagement relationships with your brand and your sales team. Key considerations for marketing technology include:
1. Mobile Strategy. This category doesn’t include mobile app development, as this category has peaked, according to Sourcelink’s 2017 Marketing Report; 77% of consumers don’t use an app again after 72 hours of installing it. We’re referring to a mobile strategy where a customer can download on-demand content that helps with a specific need, and fully engages the customer through the experience. The use of mobile devices to access information equates to lower marketing costs to gain a new customer and sell additional produces to existing customers.
2. Continual Social Digital Ads. There is no ‘down time’ on ads, they are merely replaced with new ones versus a ‘start and end date’ of running ads. Social ads (Facebook, LinkedIn) and Google ads are a high return on a low cost solution reaching a mass audience. Private social industry related portals are utilizing digital ads to get in front of industry buyers. This trend is expected to increase as costly banner ads will become obsolete from traditional sources such as digital news publications.
3. Return of Deliverable Content. There is a growing trend toward email delivery of content via an industry newsletter (dynamic- meaning works like a website) that ‘educates’ and doesn’t attempt to ‘sell’ the reader. This method gives the reader something (knowledge, product information, etc.) in a 'non-sales' manner that helps them to make better buying decisions. Downloadable content in the form of a ‘white paper’ can be included in this strategy, providing access through links in the newsletter the customer chooses to activate. Providing access to content via the corporate website can be an effective strategy as well.
4. Inclusion of Team Marketing. Front line employees and sales professionals are provided with tools to post to social media and send customers information via digital channels that is created internally. Corporate marketing departments are licensing marketing technology software to assist in providing relevant, relationship building, and individually branded content for their team. Let your sales team focus on relationship selling, while marketing helps market team members. It's a win-win when content is appropriate, relevant, and leads customers to your sales team.
5. Analytical Analysis. Multiple resources for monitoring customer engagement of corporate websites, social posts, accessible content, and interest trends exists via behavioral data software. This software can tell you who your customers are, what interests them, and what they buy. Want to find out if your digital marketing initiatives are effective? This software will tell if it is, you whether you like it or not. Key benefit: Allows you to plan your marketing around your analysis before you spend, and refine your marketing strategy as you collect more information.
Marketing technology is about survival, and companies that don’t realize this will fail to survive.