Improve Your Marketing Strategy In 2023
It is common for chief marketing officers and directors to build marketing strategies on intuition and historical data, and they use what they know to create digital and traditional marketing strategies. However, as real-time data and evolving technology become increasingly important to the success of marketing strategies, new approaches are needed.
Third-party research and data are less relevant than they used to be when it comes to getting to know your audience. And new analytics tools provide up-to-the-minute details on which campaigns work and which ones to discontinue. It is crucial to improve your future marketing efforts, since these efforts will impact your company's ROI. Here are three ways to do this.
1. Pay Attention to Website Analytics
Conversions are usually the end goal of digital marketing strategies. In most businesses, a conversion is an online sale resulting from a digital advertisement or piece of content. When a lead clicks on an advertisement or blog post link, they make a purchase. While this sounds simple in theory, the factors driving conversions and sales are more complex than you might think.
Digital marketing strategies typically incorporate more than one lead source. This can include pay-per-click ads, landing pages, blog posts, videos and emails all rolled into one promotion. This captures leads, directs traffic to the online store, and appeals to different stages of the sales funnel. E-commerce sales alone are not sufficient as a benchmark of success.
The most effective way to attract new customers and leads to your website is to know what brought them there. For example, pay-per-click ads might convert more than emails. However, without integrated data, tracking what's working and contributing to the bottom line is difficult. Email is more effective at targeting existing clients than video ads.
For real-time campaign monitoring and adjustments, dashboards that centralize ad spend, conversion information and general e-commerce analytics are essential. Marketers can now access the tools they need for immediate insights thanks to companies like Triple Whale. Marketers can double down on the channels that are yielding the most conversions with its platform, which reveals the return on ad spend for each campaign, website traffic source, and social media platform.
2. Take Charge of Audience Data
There are a number of sources of third-party data, including the iOS and Firefox web browsers, which are becoming scarce. Some browsers are delaying the end of third-party cookies, but the end may be near. There are other external sources of audience insight, including market research agencies, which may provide some nuggets of truth. However, relying on this method can reduce ROI and provide only generalized or aged data.
Your marketing strategies may be misguided by audience insights from external sources. Taking control of data collection yourself helps you design more effective strategies. Or it may not be specific enough to come up with game plans that produce the results you want. Learn about your audiences using real-time conversation tools and customized experiences.
Data can be collected directly from the source using surveys and chatbots. You can also use these tools to converse with your leads and clients to find out what makes them tick. From these interactions, you'll learn why certain offers engage your audiences. You can use the details to identify and segment who's most likely to purchase from you, as well as what triggers their purchase.
Therefore, your marketing campaigns and strategies can address specific concerns and pain points, as well as narrow down what online content experiences different segments want based on audience insights. Custom content that incorporates buying behaviors and interests can take A/B testing or personalization to the next level. There will be no kitchen-sink tactics or a perpetual experiment to see what sticks in your strategies.
3. Humanize the Brand
The best advertisements and websites don't feel overtly salesy. They tell a story. Bringing in numbers is important for campaigns, but impersonal tactics that don't connect with audiences are less likely to do so. Brands make claims about themselves that people tend to be skeptical of and able to see through them.
Instead of using promotional campaigns and PR, marketing strategies that incorporate branding and storytelling tend to make emotional connections. Besides offering audiences a rock-bottom price, brand stories and values humanize a brand and build customer relationships. It's what sets a company apart from competitors offering similar solutions and appeals to the unique motivations of its target market.
In addition, brands don't have to limit their storytelling to internal marketing departments. An audience's awareness and credibility are enhanced when someone knows and trusts a brand's story. Satisfied clients and influencers can serve as great sources of content for video, blog posts and general campaigns. It is essential for brands to engage brand enthusiasts and users in their marketing strategies so that they can demonstrate what they have to offer in addition to commodities.
Marketing Plans That Work
It is only as good as the data that informs marketing strategies, but they are only as effective as the road maps that guide audience interest into sales. By shifting from short-term results to real-time market and campaign insights, brands can design strategies that create profitable relationships rather than short-term results that persuade and connect with people.
Got questions? Visit us @ www.sirkle.com and we’re happy to help.