Marketing Trends Every Financial Leader Should Know
We believe great measurable marketing is made up of the science of creativity and the art of data. The problem with marketing generally is that data interpretation skills of marketers aren’t great (perhaps surprisingly so). So when they look at the data of ongoing campaigns, they’re not necessarily tying it back in a way that makes sense or that relates to ROI. That’s how we are different.
Check out the full video presentation or the notes below that highlight what to look for.
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In this presentation we discuss:
- How shifts in consumer buying journeys have impacted marketing and which channels are most effective. For example, 88% of consumers pre-research their buys online before making a purchase, so marketing has moved more online and has impacted brick and mortar stores. Increases in online sales vary per product category as younger generations are becoming more comfortable by making larger purchases online.
- The majority of people watching TV are using a second device at the same time. The time spent on a device vs the amount of ad spend requires a stronger emphasis on clear targeting on digital platforms like Facebook, Instagram, Twitter, etc. The evolution of the internet has gone from not being able to target audiences with more than demographics to now being able to use artificial intelligence and machine learning to really understand consumers’ interests, which has greatly impacted the effectiveness of appealing to your ideal customer.
- If you’re not actively leveraging artificial intelligence, you’re at risk of losing market share. Investing the time to understand AI and how to reduce costs is worth it in the long term because that’s where the market is going. Pairing AI with humans and having them work together you’ll get much better results than if you were to just rely on technology to do the work on its own.
- We don’t see a lot of marketers discussing the measurability of marketing activities and their proximity to revenue. As such, we’ve invested time to fill this knowledge gap and build two matrices that evaluate and determine effective marketing activities for a client depending on the time it takes to see results, the number of resources available, and more.
- How the effects of choosing the wrong marketing activities for the timeline to revenue can impact growth and affect merger and acquisition purchases.
- To ensure your marketing activities are working we discuss metrics and KPIs that are important to track internally so you have a clear understanding of what is impacting revenue. These include things like customer lifetime value, customer acquisition cost, etc.
Show Notes and Links
- Introduction [0:00]
- Digital marketing market analysis [1:14]
- How to get cost reductions through technology [2:58]
- Leveraging Artificial Intelligence to reduce marketing costs [8:59]
- Measurability of marketing activities [13:18]
- Metrics and KPIs to pay attention to [19:41]
- Conclusion [29:20]
- Questions [30:53]