marketing strategy in 2021

How To Challenge Your Marketing Strategy To Get Better Results

  • On : March 15, 2021

Source: Marketing Eye Australia

In the dynamic realm of marketing, what once proved successful in the past may not be the optimal path forward in 2023. The world has undergone profound changes, with shifts in buyer habits, economic influences, and technological advancements. For marketing professionals, the mandate is clear – adaptability is paramount. It’s time to challenge existing marketing strategies and succeed in this dynamic environment.

The Changing Dynamics of the Marketing Department

The Freelance Revolution

A compelling illustration of this evolution lies in the transformation of the marketing department itself. A recent job posting for a graphic designer revealed a stark contrast from previous years. The landscape is no longer flooded with hundreds of applications; instead, there’s a notable scarcity. The reason lies in the flourishing realm of freelance work, offering not only better compensation but also providing graphic designers with a coveted work-life balance. It was reported that currently 90% of the graphic design industry is made up of freelancers, who have more flexibility and autonomy over their work.

In-House vs. Freelance: A Paradigm Shift 

Companies are opting to hire full-time graphic designers in abundance, recognizing that compelling visuals are indispensable for captivating customers. In the era of content-driven marketing, the demand for skilled designers has skyrocketed, prompting companies to reassess their hiring strategies. This shift underscores the importance of aligning marketing strategies with the changing dynamics of talent acquisition and workforce preferences.

The 80/20 Rule and Data-Driven Marketing 

The 80/20 rule is a concept that states 80% of results come from 20% of actions where in marketing, it is often used by marketers in the past to guide them on how money is spent advertising and other campaigns, to identify the minority of customers or products that bring most sales. However, many marketers are still scratching the surface, missing out on the full potential of data-driven decision-making. According to a survey by Forbes Insights and Quantcast, only 13% of B2B marketers are very confident in their ability to use data and analytics to achieve their goals while 45% are not confident at all.

Key Areas for Strategic Evaluation

Challenging your marketing strategy involves scrutinizing various key areas to ensure relevance and effectiveness: 

  1. Embracing New Platforms

Does your strategy embrace emerging platforms like Clubhouse and Twitter Spaces? The digital landscape is dynamic, and staying ahead requires an openness to explore and leverage new avenues.

  1. Audience Evolution

Is your target audience the same as in 2019? Understanding the shifts in demographics, behaviours, and preferences is crucial for crafting messages that resonate with the current audience.

  1. Refining Value Proposition

What are you really selling, and does it align with your audience’s needs and desires? A nuanced understanding of your offerings ensures that your value proposition remains compelling and relevant.

  1. Competitor Analysis

Who are your competitors today? The competitive landscape is in constant flux. Regularly reassessing your competition ensures that your strategies are agile and responsive.

  1. Customer Attraction Strategies

What are the most effective ways to attract new customers? A dynamic market demands innovative approaches to customer acquisition. Evaluating and optimizing your strategies is essential for sustained growth.

  1. Resource Allocation 

Do you have the right marketing resources and budget in place? Efficient allocation of resources is pivotal for achieving optimal results. Regularly assess and adjust your budget to align with evolving priorities. 

  1. Website Effectiveness

How well is your website performing? Is it a lead-generating powerhouse? Regularly scrutinize your website’s functionality, user experience, and lead generation capabilities to ensure it remains an asset.

The Power of Challenging: Crafting a Better Strategy 

By challenging your marketing strategy, you engage in a process of continuous improvement. Even if the strategy remains unchanged, the act of questioning and evaluating strengthens your position moving forward. It’s about fostering a culture of adaptability and resilience in the face of an ever-evolving market. According to a report by PwC, the automation, AI, and data scraping technologies are expected to add $15.7 trillion to the global economy by 2030.

Leveraging AI and Technology

At the forefront of our strategic evolution is the utilization of Robotic Marketer technology. We recognize the transformative potential of AI in shaping marketing strategies. However, even with advanced technology, we continuously challenge our key messages. The dynamic interplay of AI and human insight ensures that our messages are not just automated but resonate authentically with our audience. 

The Role of AI in Strategic Refinement

AI serves as a guiding force in our strategic refinement. It allows for the rapid analysis of vast datasets, identifying patterns, and extracting valuable insights that inform our decision-making. The integration of AI in our processes ensures that our strategies are not only data-driven but also adaptive to the evolving nuances of the market.

Module 1: Understanding the Power of AI in Marketing

Delve into the foundations of AI and its role in reshaping the marketing landscape. Gain insights into how AI can augment traditional marketing strategies, providing a competitive edge in today’s digital age.

Module 2: Practical Application of AI in Marketing Strategy

Learn how to leverage AI technology to develop a customized marketing strategy tailored to your business objectives. Explore real-world case studies and hands-on exercises that showcase the practical application of AI in crafting effective marketing plans.

Module 3: Navigating Challenges and Maximizing AI Potential

Uncover the potential challenges in implementing AI-driven marketing strategies and explore strategies to overcome them. Discover how to maximize the capabilities of AI to achieve sustainable growth and navigate the evolving landscape of marketing technology.

As we navigate the complex terrain of modern marketing, the ability to challenge and adapt is non-negotiable. The synergy of AI, technology, and human ingenuity is the cornerstone of crafting strategies that stand the test of time. Embrace the evolving dynamics, question the status quo, and let the transformative force of AI propel your marketing strategies toward unprecedented success.

Embracing the Future

In an era where change is the only constant, the journey of continuous improvement begins with the courage to challenge and redefine. By embracing the transformative force of AI and technology, we not only future-proof our strategies but also pave the way for innovation and sustained growth. Let the evolving landscape be a canvas for creative and strategic endeavours, where the fusion of human insight and technological prowess charts the course for a future where marketing strategies are not just adaptive but visionary.

Source: Marketing Eye Australia