Marketing Is Not Just About Sales, But Substance Too
Emergence of new technologies has redefined marketing. There is an increased effort to provide value, as customers are making smart decisions based on social media interactions. If realigning services for digital customers is an important part of an organization’s strategy, guiding the organization towards achieving that strategy is the job of content marketers.
Marketing trends have undergone tremendous changes with technology impacting brand image. Now, it is time marketers keep up with evolving marketing trends.
Digital budgets are on the rise and marketing executives have realized the need to divert funds to customer-centric programs. Yet, analysts feel marketers are way behind in meeting the needs of businesses.
According to an Economist survey, while 93 percent of marketers plan to maintain or increase their investment in content, most are missing the mark. Basically, there is a disconnect between what business professionals want and what content marketers provide.
The measurement of success varies too. The survey says global decision makers judge success on its distinctiveness while marketers judge success on sales.
With rising C-suite expectations, marketers need to have a roadmap to decide goals and establish criteria for business performance.
Establishing an element of authenticity is fundamental to creating brand value while marketing. And, that is not just based on the numbers. As the Economist survey points out, global business executives are seeking substance while companies are still marketing.
Moreover, content creation is a collaborative effort involving heads of different departments as their opinion gives an insight into the overall marketing scenario. Over 65% of respondents said that they involve C-level executives, others said they involved communication and PR executives.
Ultimately, content creation and marketing is a team effort towards getting profits and business. Cost of content marketing includes overhead costs of salaries and software. So, when it comes to comparing the hidden costs to customer engagement, it will not be an easy task.
The Economist survey said marketers are not clear on which of their marketing strategies get them high ROI. Over 40% of companies feel they aren’t getting sufficient ROI for their content while 33% said they don’t have sufficient metrics to measure content ROI.
Even a Forrester survey echoed the same views. It stated that 51% of B2B marketers feel their content marketing strategies as “mature”, but only 14% said these efforts are effective at delivering value back to the business.
What marketers must essentially understand is how they can actually measure returns on investments on content.
“One way we try to quantify ROI is to track content users very closely,” says Sam Slaughter, a producer at Comcast.net, told Mashable.
“That way we can tell if they went from consuming content to buying a product, or to bookmarking the page…… From there, we can often come up with an actual dollar value from that piece of content,” he says.
The best way to earn revenues from marketing is to ensure engagement. Todd Berkowitz, research director at Gartner, says: “When study after study shows that it’s easier and cheaper to sell to existing customers than to try to acquire new ones, should be completely engaged in this effort.”
There is a need for brands to focus on valuable content than conveying mere ‘message’.
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