Marc Binkley sat down with Rachel Antony to discuss the ever-evolving digital marketing landscape. Pivoting quickly is a defining factor with businesses in determining their success throughout the pandemic and as well continue to move through it. It’s important to understand your consumers, how they’re interacting and how they’re engaging with your brand.Things you can use to gain insights on your consumers: sales teams, surveys and research. Also, looking at your competitors can help guide you on how to navigate the changes. If you’re thinking you’ve heard this before, you’re right - this is nothing new, it’s just happening at a greater speed now.So what to do with this data? Use it to move away from general brand awareness and target a specific segment of people. McKinsey defined the consumer experience journey and they focus on triggers to identify which will be most impactful and profitable for your business. Narrowing your focus to specific triggers will help with the success of your campaign.
Emerging Trends
Long form content is a trend that we’re seeing emerge this year including blogs, podcasts, longer video, etc. It’s an underutilized tool. Creating a balance between long form content and quick bites is key to building your audience base. Ideally, your content will get people interested and they are willing to spend the time consuming longer content that they find valuable.
Budget Mix
As we evolve our marketing strategies and look out to the rest of 2021, how should a brand be dividing its budget? Marc recommends looking at your goals quarterly or yearly and work backward with the budget you’re working with. When deciding what the right media mix is for your business - ie. paid media, PR, influencer marketing, content creation, website, in-store promo, etc – hiring an econometrician is ideal to understand what’s driving the biggest returns on your investment. If you can’t hire someone like that, then focusing on what’s generating the highest ROI is the natural tendency, however, that might not be the best path in the long term.Generally speaking, balancing brand building activities and revenue-based activities (short-term sales) is key to long term business success and maximizing returns over time. When you understand who your customer is and what they need, your marketing efforts will be successful.Watch the full conversation on Instagram Live:
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