5 Areas of Growth in Digital Marketing
These shifts in consumer behavior towards digital and online make digital marketing more important than ever.In this context, digital marketing is now a growth engine for many companies in Asia. And to keep up, advertisers need to bolster their digital-marketing strategy in 5 areas.
First, they need to focus on performance marketing with the goal to improve customer experience.
Performance marketing aims to continually optimizing all metrics across the funnel to increase the return on investment. It plays an important role in driving customer experience, especially in the lower funnel.
Second, brands need to move to a modern marketing technology stack
A modern marketing technology stack must cover three essential capabilities.
The first capability is Campaign execution: advertising campaigns must be personalized and automated across owned-and paid-media channels.
The second one is Audience management: Consumers and customers must be segmented based on both their offline and online data.
And the last one is Data analytics: customers behaviors must be collected and registered for audience-creation and tracking purposes.
The 3rd area of growth is to enable an agile operating model for teams.
For a digital-marketing strategy to succeed, the marketing and technology teams need to work together to continuously optimize the customer journey.
The objective here is to have one or more teams that are dedicated to identifying key performance levers.
The 4th area of growth is the spend allocation between channels.
Brands in Asia often use a “last click win” technic to assess the digital return on investment. This can lead to an excessive focus on some channels.
It’s important to remember that multitouch attribution, which looks at the full customer journey, is a useful-and untapped- approach that aims to counteract the initial bias.
Finally, the 5th area of growth is to ensure responsible first-party data management.
While personalization in digital marketing is here to stay, regulations around data are currently evolving.
Brands will need to be proactive and clear that they take data privacy seriously. Also, transparency on how data will be used is critical.
#digitalmarketing #growthstrategy #Wagawin
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