By Tauseef Syed, Director of Digital Marketing, NetElixir
The onset of the pandemic reminded everyone that change happens whether we are prepared for it or not. Everyone’s daily routine got disrupted. How did this impact business owners? Successful digital marketers pivoted their strategy and accelerated their digital transformation. With that, many not only survived but flourished during the past year. But how?
If 2020 was the year of upheaval, 2021 is the year of progression. Businesses and marketers need to be pushing forward. Now is the time to dominate your industry and tackle influence, attention and profits.
Let’s take a look at the proven tools and unique strategies marketers should use that are crucial to not only surviving but thriving in the chaotic digital marketing ecosystem.
An unexpected upheaval: how the pandemic fostered change and competition
Recently, there has been growing concern regarding the future of advertising and marketing; specifically, how digital marketers will reach consumers as third-party data becomes less available and unified consumer privacy laws continue to come into the fray.
These industry changes paired with the sudden and unexpected onset of the pandemic forced many marketers, across an array of vertical markets, to switch strategies and begin to rely more on actionable customer intelligence. This created an agile marketplace, and only those who continue to think and execute swiftly will succeed; this is particularly critical to consider as we begin to enter the H2 planning period.
While it may feel like a harder transition at first, this change in strategy will ultimately build a bridge of trust and provide an open exchange between marketers and consumers in the long term.
A look at the strategies crucial for survival in the shifting digital marketing ecosystem
The death of third-party cookies means gone too are the days of planning out a marketing strategy months, even weeks, in advance. Marketers today need to constantly be on the pulse of changing consumer sentiment, relying on innovative first-party solutions to gather, analyze, and execute accordingly. Tracking customer insight will identify trends to help inform future campaign strategies. As the shift to first-party data occurs, now is the time for marketers to understand their target audience and how that affects the long-term focus of cross-channel engagement.
Further, no matter the market vertical, there are two more critical components to consider when planning strategy: the implementation of virtual experiences and targeting high-value customers. Given that we are at the height of what has quickly become a year of virtual overdrive with Zoom fatigue perpetually on the rise, it’s important for marketers to be smart in just how they leverage a virtual experience. Consider incorporating advanced technology, like AI or augmented reality, to engage target customers with the brand in a meaningful and personalized way.
The less generic and more tailored the experience feels, the more success it will have in leading to sales conversions. Delivering personalized experience in real-time is the number one differentiator impacting CX (customer experience) for both B2B and Consumer segments. Further, according to NetElixir data, high-value shoppers account for more than 60% of online purchases across a variety of categories. If marketers do not invest the time and resources to properly analyze and appeal to this customer segment, they will be forfeiting substantial revenue.
Understanding, and preparing for, what’s to come in a convoluted landscape
Change is not always a bad thing and both marketers and advertisers should prepare for a future in which the target client is the top priority. Businesses and marketers should embrace industry changes and utilize them as a chance for evolution. Strategies and tactics will ebb and flow; the one thing that will always remain consistent and worth a marketer’s undivided attention is the end goal: the customer.