Four Best Practices for Maximizing Marketing Effectiveness
Today’s marketing landscape has a number of obstacles that marketers must overcome in order to effectively reach, engage and convert new and existing customers. Due to the proliferation of channels and devices, marketers must constantly develop and coordinate experiences that consumers find meaningful and trustworthy.
As consumer expectations and demands continue to evolve, marketers must keep pace. To create the best consumer experiences and the greatest returns for their business, they must pursue an audience-centric approach to marketing and advertising that puts the customer at the center of everything they do.
Here are four ways successful audience-centric companies connect their best-performing marketing to the people that matter most.
Leverage the Right Data
Each member of a marketing organization requires different types of insight, at different speeds and at different degrees of granularity in order to be effective. For instance, a CMO’s need to understand the impact of each channel on total sales by quarter is very different from a channel manager’s desire to identify yesterday’s top-performing display ad placement on in-store sales.
The most effective marketing organizations leverage the power of diverse analytic approaches to provide each member of the team with access to the right insights at the right time in order to inform their decisions.
When marketers are able to match the right data to the right tactical or strategic action, they can better understand consumers while making smarter investment decisions within and across channels that enhance performance and reduce wasteful spend.
Take Advantage of People-Based Marketing
According to the most recent Nielsen Total Audience Report, the average American adult spends 10.5 hours with media per day. To stand out, many brands are embracing people-based marketing practices to ensure they are delivering tailored, personally relevant messages, content and offers at each stage of the consumer journey.
Unlike the “spray and pray” advertising methods of the past, people-based marketing enables marketers to target real people at their most relevant, receptive moments. The creation of a persistent identifier that links a person to his or her devices and browsers makes this approach possible.
By providing insight into who customers and prospects are and how they behave, marketers can offer better, more personalized experiences that drive revenue and create lasting customer loyalty.
Embrace Advanced Measurement Approaches
Implementing a people-based approach requires agile measurement practices that allow for more frequent analysis and optimization. Effective marketers leverage advanced measurement approaches, such as multi-touch attribution, that provide quick access to always-on marketing campaigns, so they can focus on proactive (versus reactive) optimization.
Multi-touch attribution has revolutionized marketing measurement by enabling marketers to analyze consumer behavior and marketing performance across digital channels and devices in near real-time.
With multi-touch attribution, marketers can get a people-based view of consumer journey and accurately assign credit to all the touchpoints that influenced a desired business outcome, such as a lead or sale.
Models that are updated as often as daily provide the most accurate, up-to-date understanding of the tactics that influence the consumer decision process, so marketers can iterate and improve while their marketing and media are still in the market.
Stay Up-To-Date on New MarTech Developments
As new devices and channels come into play and consumer behavior continues to evolve, the importance of multi-touch attribution will only increase. While digital ad spending may have outstripped linear TV, traditional offline advertising isn’t going away anytime soon.
To maximize revenue and return across all investments, marketers need a comprehensive view of marketing performance. The most effective marketers are starting to embrace holistic measurement solutions that combine audience-centered performance data with multiple modeling methodologies. These solutions deliver the speed, accuracy, and foresight marketers need to enhance the consumer experience and optimize lift and ROI across all marketing investments.
Today, the marketing landscape is more complex than ever, consumers are more demanding than ever, and maximizing marketing effectiveness is harder than ever. By embracing these four best practices, marketers can make audience-based decisions that create the best experiences for their customers and the greatest returns for their business.
Download our ebook Untangling Attribution’s Web of Confusion: A Primer for Marketers to learn more.