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There are many brands competing in the market space for visibility and each of them employs varied strategies and marketing tactics to woo the customer base to them. But, with time, the customer has become smarter - efficiency and usability have become a huge part of the whole experience. With the rapid influx of tools in the market, a marketing professional knows that in order to stay competitive, one has to master the tools and use them creatively, or else they will be left behind the competition.
With every passing year, shifts in technological trends determine the strategies and tactics employed by brands in the way that they communicate to the customer. Along with these changes come a bunch of challenges and forks along the road that marketing professionals need to navigate through - and so before you are able to develop solutions to solve marketing problems, you will first need to be able to identify the challenges and find efficient ways to get around them.
The challenges this year are:
A rise in digital advertisement expenditure: The price of digital ads have been skyrocketing over the past few years, with it becoming an unaffordable option for small businesses and entrepreneurs who are just starting out, and so it means that to reach the same audience size as last year, you would have to fork out extra cash from your organizational budget.
Instagram influencers are in high demand - only thing being that their costs have been increasing, whilst their reach and influence steadily decrease due to new restrictions by social media companies in the form of changed algorithms that reach a smaller audience. This is also not a viable option for small entrepreneurs looking to get the word out.
Also, the competition in the e-commerce marketing sector is growing, and with it comes the pressure of having competitors being able to sway your loyal customers pretty easily.
To overcome these challenges, you, as a marketing professional need to be able to adapt to new ways of grabbing the attention of the consumer and driving them to purchase whatever you have to offer.
Video marketing is a great way to capture the imagination of the Instagram generation. With the introduction of cheap data in many countries of the world, more and more people are tuning in to watching live video streams and live television on mobile devices, and this is the trending method of advertising currently.
Personalized mobile content is also a great way by which you can deliver targeted advertising to mobile phone users, along with a great call to action, that leads them to purchase your products.
Customer feedback and insights are also a great way to identify the sentiment of the customer and predict their future needs. By using different data analysis tools to determine customer buying and spending, along with prevailing trends in the industry, a marketing professional is able to gather information about the customer, and utilize that information to develop targeted advertising specifically to attract the customer.
Conclusion
Goal setting sometimes can be a tedious task but also rewarding. It is important to collect the right data and troubleshoot your idea before setting foot on your upwards journey. Complete research and realistic data prediction can highly ensure the future success of the goals. Other factors to always look for are; the team’s capabilities, being on the toes when it comes to timely decision-making as a team leader, and respecting deadlines.
While in the process of your goals, it is important to take a step back and do data analysis of the factors involved, the progression, and the new data to add it. This helps to stay grounded and secure your success.
Austin Stanfel is the current CMO at Creative Recreational Systems, Inc. – A Commercial Recreation Equipment Importer and CEO of Stanfel Media
Also Read : E-commerce Marketing Strategies in 2021 that work
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