Does your digital marketing currently meet the needs of your consumers? That might sound like an obvious, perhaps even a slightly peculiar, thing to ask. After all, if your digital marketing delivers results then it’s easy to assume the answer is yes. But for how long?
Consumers’ needs are changing almost as fast as the technology in their back pockets. According to our latest research, 41% of millennials expect to be personally recognised, and more than half (51%) expect online experiences to reflect what they like, or might like. Most eye-opening of all, especially for marketers, is that almost a third of users will navigate away from content that doesn’t meet these expectations.
As technology gets better at understanding our individual preferences, and even answering our questions, there’s a natural tendency for consumers to demand the same from brands as they do of people. They expect brands to respond to them on a one-to-one, human level.
That can be great, but it’s an expectation that can only be met by consistently delivering best-in-class, data-driven marketing, that meets consumers’ needs while respecting data privacy, at scale. And to do that, many brands need to transform their digital marketing.
The road to transformation
Digital marketing transformation often involves a complete overhaul in how a business approaches its marketing, how it connects the dots between data, and ultimately measures campaign performance. For this transformation to succeed, organisations need to commit from the top down.
That probably explains why, when it comes to digital marketing transformation, only 2% of brands are considered best-in-class. Yet the benefits are significant. These top brands typically see up to 20% more revenue and 30% more cost savings as a result.
How to get started?
A great example here is digital marketing agency, Wpromote, who used Google’s new optimisation score to improve its bidding strategy. The optimisation score is tailored to each campaign and uses statistical models and machine learning to tell you whether you are taking full advantage of the latest digital marketing techniques.
Scores are between 0% (not at all) and 100% (you’re nailing it!). If there’s room for improvement, the tool will give you real-time customised recommendations along with the estimated impact they’ll deliver. You can then apply over half of the recommendations in a single click of a button. Optimisation score is there for the customers and agencies who want to get an edge in performance from Google Search and free up time.
Wpromote took advantage of a suggested recommendation to target cost-per-acquisition (CPA) bidding in a remarketing campaign, and saw conversions increase by 20%, while overall CPA dropped 16%. But more importantly, it changed the team’s approach to digital marketing, and saved them continually having to interrogate data for insights – freeing up more time to concentrate on customer experience.
Be one of the 2%
Earlier, I touched on the ‘elite’ 2% of brands already reaping the full benefits of digital marketing transformation. They realised early on that when it comes to consumers’ expectations, the only certainty is change.
So, even if your campaigns currently hit the mark, can you honestly claim they’re ready to adapt to whatever consumers will want from you in a week, month, or year?
Think of digital marketing transformation like going to the gym: the worst part is putting your trainers on and getting started. But once you begin, by using tools like optimisation score, the benefits can come quickly.