30% of 2013 is gone, and it’s not coming back!
So what digital efforts can you put in place as a brand manager to capitalise on the remaining 250 days, and turn your ordinary return on investment into something extraordinary?
The first thing brands must understand is that consumers are now confronted with more and more choice, which as Malcolm Gladwell suggests, can be to the benefit or detriment of your brand. One thing is for certain however, and that is that shopper’s expectations have changed. They are forever looking to digital outlets to make their lives easier, but they don’t have the time to scour search engines and websites to find the answer to their questions.
Enter the rise of conversion specialists, who can dramatically increase the amount of sales you receive whilst minimizing your marketing cost.
Another vital issue that brand managers must take action on is comprehending all of the digital avenues consumers walk down enroute to an online purchase. In 2013, your customer can be exposed to your brand anywhere at any time, whether via desktop or mobile, search or social, or even radio or TV; your customer is making a judgment call on your brand, whether or not they believe in what your selling. Only once in a blue moon can a brand be everything to everyone, so decide what your key point of difference is and integrate this message across all your marketing platforms.
With this in mind comes another vital action point for brands to move on, and that is the often feared and almost always undercapitalised platform that is social media. A social media strategy is all too often misconstrued to getting a ‘like’ on Facebook, increasing ‘retweets’ on Twitter or even using the kelvin filter on Instragram. Therefore, when there is no continuity between marketing platforms, customers will often be left unsure of what it is your brand actually stands for. A social media strategy is often overlooked by financial managers as they feel there is no return on investment (ROI) to be had from social, or at least no way to accurately measure or justify it. This management stance is misguided and misinformed. Now, more than ever, there are a multitude of clear-cut ways to measure the power of social on ROI, so that brands and marketing managers alike cannot continue to hide from social in 2013. In fact, brands must go one step further than simply embracing social media: they must embrace a social channel.
Our final key trend is taking a look at marketing manager’s favourite buzzword of the moment – ‘big data’ – and how to decipher and capitalise on the overwhelming amount of potential crumbs that you are generally just sweeping away. It is undeniable that market-leading brands are using every little digital crumb their customers leave behind to better understand who they are and subsequently how to sell to them. ASOS has mastered the art of personalised email marketing to the masses, Amazon knows how many times you’ve read your favourite sex scene, and Facebook even knows that you’re gay before you do. The adage of knowledge is power has never been so relevant, but what do we do with all these seemingly innocuous portions of data, and more importantly, how do we make money from all this information? The opportunity lies not within the symptoms of the data, but rather by collecting all the individual tidbits and testing what does and doesn’t work. In short, every customer is different, and often requires customised solutions to their unique problems.
With only 250 days remaining in 2013, it is your responsibility as a brand manager to take action on increasing your brands fortunes and taking significant leaps to reaching your company’s vision. If you want to find out how ROI.com.au can help increase conversions, build you a social channel or capitalize on all your big data, contact us today!