Four Keys to Modern Marketing: A Snapshot
Marketing, as we have known it, has always been about brands or selling products and services. Marketing often has been centered around the brand or a ‘launch’ campaign, such as a major event or multi-channel campaign. It’s tried and true, and it’s worked – traditional marketing done right has evolved into an artform driving consumer preferences and securing brand success.
But things are changing. With the sheer number of businesses out there fighting for attention, with the Covid-19 pandemic changing the way we live and work, with technology, digital tools and AI, traditional marketing approaches aren’t valid anymore. It’s time for modern marketing – agile and lean, analytics and data driven, lasered in on customer experience and steady engagement.
“Modern marketing is the ability to harness the full capabilities of the business to provide the best experience for the customer and thereby drive growth.” (McKinsey)
But what does that mean for your business? Here are the top four areas we believe are key to unlocking the true power of modern marketing:
1. Put the customer at the center of your universe
You might have thought this was the case before, but we mean it in a whole new way. This isn’t about your customers as a homogenous set of stakeholders. Each individual person wants and needs something different. Ask yourself: How can I provide value to each individual at every step of their engagement with my brand? What meaningful, unique experiences can I create? How can I constantly innovate around my customers’ needs and priorities?
2. Make your sales, marketing and customer experience (CX) teams be your BFFs
Silos and separated teams won’t work in this new world of marketing. You need collaboration to the highest degree. Today’s sales, marketing and CX teams need to melt together into a growth driven team focused fully on customer experience and on the lookout for the next disruption.
3. Measure, measure, measure
We’ll say it again… MEASURE. To truly understand your customers’ unique wants and needs, you need to really understand who they are, what’s worked and what hasn’t. Collect meaningful analytics that align with the critical “moments that matter” from your client’s perspective to gain loyalty in each step of the customer journey.
4. It’s all about agile and lean
Borrowing techniques from our software development and IT project leads and applying agile to marketing means shorter sprints to try and fail fast. Perfection isn’t desired. You need to iterate to find what works then scale fast.
Has your business started implementing modern marketing practices? Let us help you apply modern marketing techniques to grow your business to the next level.