I’ve been reading predictions with some amusement about how AI virtual assistants will make our lives easier and better by thinking for us. The prognosticators of AI technology remind me of the early days of social media and its love fest promise of brands building relationships and interacting with their customers. Well, we all know where that got us. Which brings me to AI platforms and big tech.
Do you have the resources to achieve your business goals?
Altimeter Research recently released a new research report entitled Key Elements of a Next-Gen Digital Marketing Strategy. In the report, they correctly identify that marketing is no longer considered a stepchild on the organizational chart but rather a leader in innovation and digital transformation.
Today, achievement of many business goals requires an
integrated digital strategy that encompasses traditional awareness goals as
well as the ability to reach customers on an on-demand personal level thought
to be unachievable just a few years ago.
Below are my thoughts for business-to-business marketers as
they start to navigate the technology and resources needed to achieve their business
The longer the sales cycles, the more important the relationship becomes
Business-to-business marketing has always been about establishing a relationship with the prospect. One reason for this is most considered purchases involve multiple parties, resulting in extended sales cycle time. With the new technology of programmatic buying and selling of digital advertising inventory, ad technology companies would like for you to believe that a constant barrage of banner ads will substitute for a relationship built on trust.
The adoption of programmatic advertising has given rise to digital ad targeting that uses captured data for ad placement across ad exchanges and networks.
This captured data is referred to as first, second, and third party data. Depending on which side of the buy/sell equation you stand on — advertiser or publisher — these terms have different meanings. What is important to keep in mind is just about all programmatic advertising is data driven marketing, with the intent of making more efficient targeted ad buying.
Welcome to the high-speed trading desk for automated digital advertising placement
Marketers spent more then $3.37 billion on programmatic advertising last year. eMarketer is estimating the programmatic advertising will top $9 billion by 2017. Research studies by the Association of National Advertisers and Forrester indicated that only 23% of marketers said they used and understood programmatic advertising and that 26% indicated they understood the concept but needed to learn more about how to apply it to campaigns.
Visceral experiences create emotional connections to brands.
It was the bucket list ride. 2,200 miles in all, beginning with a ride to Big Bend National Park and culminating with the North Texas Norton Owners Association rally in the Texas hill country. That much seat and think time allows for serious contemplation such as brand loyalty -– how to create it and how to keep it.
How to keep share-of-voice and maintain industry presence
Cost reduction is nothing new. The great recession accelerated the learning curve on how to reduce marketing expenditures by cutting personnel and marketing investment. However, as we fast forward to a new year and a recovering economy, when asked to reduce marketing expenditures one must take into account the value of marketing and the influence it has on the behavior of your customers and competitors.
Brand recognition for thought leadership takes stepping into the spot light.
Point-of-view marketing involves communicating your brand story through thoughts, deeds, and actions on how the industry should be served. One avenue to achieve this is through social engagement marketing tactics. When your brand provides authoritative content, supported by experience or scientific facts, it is demonstrating thought leadership.
Have the right inbound marketing tools and platforms in place help build brand preference.
Aviation manufacturers are slowly warming up to the idea of inbound marketing. Progressive practitioners are realizing the benefits of improved organic search rankings, broader reach of influence, and increased brand preference by investing in a strategic inbound marketing program.
When contemplating the execution of an inbound marketing program there are business, strategic and tactical issues to consider before starting the process.
In the aviation industry, brands fall into three categories – innovators, challengers and laggards. Innovative brands take calculated risk; they think big, invest smartly and understand the power of marketing. Challenger brands are smart and agile they rely on new technology and materials to disrupt traditional business models. Laggards, well are laggards. Laggard brands practice “Random Acts of Marketing” a term my colleague Paula Willliams uses to describe marketing tactics without strategy.