Many marketers will begin work on their 2016 plans this month. Are you one of them?
As you develop your 2016 marketing strategy, it’s critical to remember that we no longer live in a world of marketing “rules and tools.” Today’s successful marketers are instead guided by the new marketing value chain, which aims to approach marketing’s longtime goal of predictability by using data insights to drive marketing strategy.
In order to create and maintain an impactful marketing strategy in the new year, avoid these three mistakes:
Most marketers know the importance of using data to guide their marketing strategy, but that doesn’t mean they are actually use data insights fully or accurately.
As you craft a strategy for 2016, make sure that your marketing team has the data analysts you need to appropriately collect data and make sense of it. Then, set up a system to promote collaboration between creatives and data scientists on your team.
In 2016, make it a priority to systemize the way you attribute conversions in a multi-touch marketing environment. And make sure your system gives weighted credit to every channel in which a lead interacted with your marketing messages in order to capture a well-rounded picture of the drivers that are causing contacts to convert into leads, and leads to convert into customers.
If you continue to attribute conversions based on an outdated system that cannot ascribe value to each of your prospect’s touch points, you are working from skewed data. If you’re using skewed data, you cannot appropriately determine the best way to allocate marketing spend to reach more of your audience and improve conversion rates.
If there’s one thing marketers should have learned from mobilegeddon, the decline in organic reach on Facebook and other marketing-landscape changes, it’s that digital marketing must be agile. In this industry, constant change is a given. Google is always trying to improve its algorithm, social networks are always looking for new ways to gain users and revenue, and new channels are constantly springing up and fighting to gain popularity.
So what must marketers do? Prepare a multi-channel strategy that positions your organization strongly on the platforms you own, such as your organization’s search engine optimized website, as well as on social channels and in media outlets. Work to build a reputation and reach that transcends channel, so that any changes in the channel that negatively impact your visibility do not sink your organization.
Want to know more about the new marketing value chain and how it can impact your organization’s success? Download our white paper.
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