Marketing tools and techniques that can help grow your business
As a marketer, it has never been more necessary to mobilise every single tool in your toolkit to try and drive growth in a challenging and uncertain market. Your campaigns and content must be data-driven and evidence-led, so you’re spending budget wisely.
Earlier in the year, Avora hosted a webinar with Amir Malik from Accenture Interactive and Peter Hutchinson from Avora exploring growth marketing trends for 2020 (you can still listen on-demand). We’ve put together five tactics you can adopt to empower you and your team to improve your effectiveness and ROI throughout this period.
1. Augmented analytics: machine learning & automation
Marketers need to act fast in response to performance. So you need to get to the right insights faster. And you can’t always wait until one of the highly sought-after analysts, data scientists or engineers has time to help you get these insights – if you’re even lucky enough to have such resources in the first place. Using machine learning and automation to augment your analytics addresses the pain point most marketers are still facing – getting a complete view of performance across marketing channels and understanding the impact of good OR bad performance on revenue.
“Marketers need to think about the next best action and next best engagement to ensure that their business revenue is growing, in B2B or consumer acquisition, and if their analytics layer supports them in their decision choices.”
Amir Malik, Accenture Interactive
Machine learning can step in and automate routine and repetitive tasks, like data preparation and data cleansing, can be done fast, accurately and reliably. According to Gartner by 2020 over 40% of data science tasks will be automated. Algorithms can shift through data much faster and at a larger scale than humans can, increasing productivity.
Beyond 2020, marketers and businesses will be expected to invest in insight automation anyway, to extract intelligence from data and make intelligent decisions in real-time. Taking action now will put you ahead of the curve. You’ll be able to generate growth now by being able to ask questions of your data, with it all together in one place – like “why did that happen in that campaign?” and “what impact does this activity have overall?” Knowing what happened and why, immediately, will be your superpower.
2. Social media effectiveness
Measuring social media effectiveness is a delicate balancing act between art and science. Social media has never been a more important tool for you to increase brand awareness and reach new audiences. But if you just churn out content across social media without understanding the effectiveness of each platform, you won’t know what works and what doesn’t, and you’ll miss opportunities to improve your ROI.
Event level data on the experiences, engagements and touchpoints that audiences have on social media can tell you a lot. Analysing the underlying data can be the key to understanding what’s happening organically and what KPIs you should track like reach, engagement and sentiment.
It is a game changer to have an intelligence layer that turns your hyper-targeted social media campaigns into a feedback loop that informs future strategy and growth. You’ll be able to drive an increase in positive engagements, and demonstrably contribute to a better customer experience leading to growth.
3. New technology: VR, augmented reality & new search functions
New technologies like voice search and virtual reality are already becoming part of everyday life. These channels can add more value to your customers, and if you can start adding these to your digital strategy now it will give you a clear competitive edge in terms of bringing value to your customers.
Virtual reality has boundless potential to allow buyers a genuine alternative to walking into a physical shop – for example to try on clothing or see furniture in-situ. Weaving these experiences into the customer journey now will familiarise customers with augmented reality so they become more likely to make purchasing decisions based on interactions through these technologies.
Improvements to voice search are already leading to increases in people confidently speaking to and conversing with bots and search engines. This presents you with an opportunity far better than sponsored ads – you can use it to create a more connected brand experience, improving customer experience and loyalty, bolstering your brand engagement and awareness.
For now measurement of campaigns and activities on these channels and technologies will be more holistic, ‘how does it raise brand awareness’ and ‘how does it affect sales in general” rather than having a direct impact on sales.
“A business can build a virtual reality campaign to build a viral campaign to build awareness, to show that that organisation is advanced in their use of technology…its early enough in the virtual reality timescale that anyone who does anything exciting can get great exposure.”
Peter Hutchinson, Avora
4. Hyper-targeted & interactive marketing
Personalised marketing is not new, but watch out for an increase in hyper-targeted marketing. It might seem complicated, but with the ever increasing amount of consumer behaviour data, you can use socio-demographic, geographic or engagement insights to offer content that is genuinely relevant and beneficial to your audiences. Better audience segmentation means less likelihood of your advertising budget going on campaigns that are largely ignored, and it can also significantly improve your brand authority.
You can then measure the effectiveness of your efforts to personalise content, advertising, emails and other activities, to better identify what is contributing the most value to your marketing ROI.
Now is the time to embrace data-driven marketing. Using all the data at your disposal, you can build a complete picture of how SEO and keywords are working for you.
5. Change is in the air: Programmatic advertising
If you’re in the programmatic advertising space, you’ll no doubt be familiar with the question of whether to bring it in-house or outsource. A recent report by IAB revealed that in-house is now the favoured advertiser model with nearly 40% executing their programmatic trading via in-house operations. It also remains the primary model for 50% of publishers.
Amir Malik from Accenture Interactive, says that “it is more about ‘righthousing’ than in house vs outsource.” You need to find the right model for your business when looking at your digital marketing strategy, taking into account:
- The challenges and costs associated with bringing programmatic in-house. Technology, talent and expertise can come with a hefty price tag.
- It’s possible businesses will decide to in-house capabilities for programmatic ads strategy, and also engage with an agency partner to support and implement the running of holistic and scalable programmatic campaigns.
Either way, you’ll need to measure the effectiveness of your advertising efforts to understand your ROI. With a bit of foresight now, you can create a complete view of your marketing funnel to understand the impact your programmatic advertising has on revenue.
Get in touch with us and we help you measure the effectiveness of your growth marketing campaigns and experiments. Let us show you how you can continuously measure and track your metrics across all your channels and digital marketing activities.