Contrary to popular belief, it isn’t necessarily true that a marketing department can only deliver significant results unless it also has a significant budget at its disposal.
Though it certainly helps, marketing has changed substantially since the beginning of the new millennium and we’ve seen a new form of advertising emerge in the intervening years, one which capitalizes on current approaches & technologies to extend the reach of campaigns, even during times of enhanced economic and social pressure.
Digital Customer Experience and Content
The phrase ‘striking whilst the iron is hot’ will be familiar to most marketers out there but it has never been more relevant than it is right now. Trends, the information we receive, and our circumstances are changing daily and an organization has little recourse but to keep up with the pace of this change by providing more impactful content to draw consumers in and a more meaningful customer experience to retain them.
As 2020 comes to a close, It’s more than likely that the consumers in your market have had either to embrace the nature of remote work, self-isolate due to the impact of Covid-19 or have, at the very least, experienced some change to their lives in the day-to-day as the virus has increased in prominence. Communicating your understanding of this fact will prove vital to business in the coming months – this is where content comes into play.
Serving as the mouthpiece for your brand, effective digital content and getting it to your customer will prove invaluable to their experience in the current climate. Customers are understandably wary when it comes to purchasing now and, in many ways, effective marketing will do more of the legwork in sales than the product you sell.
For example, during July, the communications firm Ketchum revealed that 45% of consumers had changed brand preferences during the pandemic due either to the brand failing to appreciate their struggles in relation to Covid-19, or a failure to engage with racial justice issues following BLM protests.
As Forbes discovered earlier this year, 79% of CMOs are pivoting to focus on building more ‘trusting relationships’ and content is one of the simplest ways to reassure your audience that you side with their interests and values whilst also indicating your trustworthiness.
According to Demand Metric, content marketing is 62% less expensive than Outbound Marketing and can deliver three times as many leads, but in spite of this, only 60% of B2C companies say that they are “very” or “extremely” committed to content creation. Clearly, content delivers results. 86% of highly effective organizations have someone in charge of their content strategy in the day-to-day as a result and it is vital that you do the same
Meaningful Customer Experience
“First impressions are hard to erase”: if this age-old adage is true, developing a customer service model that provides a meaningful experience for the end-user is vital. As stated above, consumers are experimenting with more brands than ever before and executives must make sure that the end-user’s experience of your brand is peerless and can’t be found find elsewhere.
According to McKinsey, there are four simple ways that CMOs can achieve this in the day-to-day:
- Care & Concern – Similar to what we discussed above, customers simply want to feel that they have been heard, to this end the tone of your approach should be sensitive rather than marketing centered, you must prioritize your staff and community whilst staying true to values
- Meet your Customers where they are – The lives of your customers have changed – possibly irreversibly – and you must make all efforts to meet them where they are. You can provide innovative digital models to serve customers at home, whilst expanding delivery and contactless options
- Reimage the post-Covid-19 world – Though economic hard times will force cost cuts and brick and mortar stores to close, businesses can still work effectively. Executives must look to migrate their customer to digital channels to save money and improve experience.
- Build Agile Capabilities – CMOs must employ all tools available to them to deliver results quickly. They should tap social media for customer readings, use employees to get ear-to-the-ground insights, save time with ‘test and scale’ labs, and monitor customer signals to see if there’s room for improvement.
To learn more, download the full report here or continue the debate at the Digital Marketing Digital Summit NA, a GDS Summit, where we bring together senior Banking executives who are actively seeking to share, learn, engage, and find the best technology solutions.
GDS Group hosts experts to help experts. We strive to provide an atmosphere for our attendees that enables them to confidently lead their companies through major transformation projects. For information on upcoming events, view our Digital Summits. To remain current on our activities, visit GDS Group on LinkedIn | Facebook | Twitter.