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Market Assessment

Key Benefits of Having a Global Marketing Strategy

Businesses around the world are expanding their operations on a global level. This means that core functions like marketing should be backed by a global marketing strategy that are tailor-made to suit different regional cultures and preferences.  A global marketing concept involves the use of new elements in a company’s marketing strategy such as changes in packaging and advertising that are designed to resonate with the local audience across various geographies. However, some elements such as the company logo remain standardized. A global marketing strategy is a component of a company’s global strategy and it encompasses all functional aspects of a business ranging from finance to operations to R&D.

Benefits of a global marketing strategy

If done right, a global marketing strategy can have many benefits for an organization. Start with open and honest conversations about where the company is going. This can help you create a global marketing strategy, build collective commitment, and is one of the many secrets to running a successful and enduring global enterprise. Experts at Infiniti Research have highlighted four key advantages that businesses can gain by adopting a global marketing strategy.

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Better product and service effectiveness

The more companies grow, their learning must keep pace simultaneously in order to be effective in rolling out a new and improved product or service offerings. Take the example of Facebook for instance. Once the company’s IPO turned out to be a remarkable success in the North American market, their next target region for expansion was India. Studies revealed that internet advertising made up for only less than five per cent in India’s advertising market, compared to North America’s which was close to twenty per cent. Facebook had to improve on their already existing North American strategy to monetize all the users in India in terms of its revenue base and develop its global marketing strategy in India.

Stronger competitive advantage

Although some companies may be natural at competing in a local market, this may not be the case when they are competing with global players in international markets. A brand with a strong global marketing strategy can achieve this, provided the strategy is targeted at the right audience and is well communicated. It also allows for a better-informed and more focused organization as a whole worldwide. Further, it allows companies to adapt quickly wherever needed and keep up with customer demands or other global marketing trends.

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Greater customer awareness

The internet plays a great role in keeping customers around the world connected to their favorite brands. They can track the progress of a brand and their products constantly, helping companies to keep their customers posted on their latest innovations in products or services. A global marketing strategy can help companies identify different elements that can capture the attention of different audiences. They can also promote the “WOW” factor in their offerings through a global marketing strategy that consequently increases customer awareness.

Cost reduction and savings

Economies of scale and scope through standardization can be achieved by focusing on new markets. Furthermore, customers from all corners of the world can find brand using the internet, and they can reach potential customers with one single point of contact such as a website, blog or a Facebook page. The cost savings can help businesses serve customers better worldwide.

Creating a Global Marketing Strategy: Where Companies Go Wrong

What's in it for you?

This resource provides detailed insights on :

Global marketing strategy

  • The common mistakes companies make while formulating market entry strategies overseas
  • The impact of gaps in marketing strategies on your overall performance in a new market
  • Strategies to avoid these mistakes
  • Why businesses must have a tailored marketing approach for different regions.

Although having a global marketing strategy is highly rewarding, the strategies of several companies (even well-known multi-national players) have faced backlash in the past. Download this free resource from Infiniti Research to learn where companies are going wrong while creating their global marketing strategy and how it can be rectified.

marketing strategies

Marketing Strategies for Expanding Your Business into Europe: Key factors to consider

Since 2014, there has been a tremendous marketing transformation in Europe. Amidst this, marketers are having a tough time perfecting their content marketing strategies to engage European customers. Successful market strategies are those that are highly responsive to different environments. There might be substantial variations in the focus, aims, and techniques of marketing over time, making it imperative for companies entering the region to understand the existing disparities and to respond to them with effective marketing strategies.

With several years of experience across various industries, experts at Infiniti Research have used their expertise in assisting global clients to successfully meet their business and marketing goals. Request a free proposal to know how we can help you!

What is a marketing strategy?

marketing strategies

Marketing strategies combine a company’s marketing goals into a comprehensive plan to achieve them. Effective marketing strategies should include market research and focus on the right product mix in order to maximize profit potential. Top companies around the globe have realized the importance of marketing strategies in identifying the best customers and understanding their needs. Moreover, it also helps businesses gain a competitive advantage over their rivals in the industry.

Creating a marketing strategies for the European market

Understand the customers

It is often observed that B2C companies are ahead of the curve when compared to B2B companies in exercising effective marketing strategies, especially on social platforms. However, considering the fact that today both customers and businesses have an active presence on online channels, B2B companies must also lay more emphasis on enhancing their marketing strategies. Furthermore, European customers are known to be highly dependent on digital devices either to make a purchase or research about a product/service that they are interested in. So, companies must begin by creating content that their target audience is searching for. This can be done by gaining insights from the sales and customer service teams about what makes customers dissatisfied. Companies can also set up a social media monitoring dashboard to better monitor keywords, interests, and brand mentions.

Create a targeted approach

Modern companies must not overlook the fragmented distribution ecosystem, rather they must create a highly targeted and specific approach for each channel. In the US, for instance, companies have already understood the importance of this and are implementing more targeted marketing strategies when compared to their European counterparts. In this era of immersive content, companies in Europe must look at ways that they can enhance their marketing efforts by enhancing user experience through the use of advanced technology.

Request a free brochure to gain access to our tailor-made services that are designed to suit the needs of organizations across various industries operating in different geographies.

Understand the nature of market

Certain marketing strategies often do not work as well in Europe as it does in countries like the U.S. Furthermore, one marketing strategy may not be effective across different countries in Europe. Marketers need to understand Europe is not a homogenous market. One of the key challenges here for companies is to understand the local language, the market maturity and the buyer behavior of Europeans. In most cases, highly localized content and marketing strategies that are suited to specific regions in Europe prove to more effective. European marketers sometimes make the mistake of creating and rolling out the same content across Europe without adapting their content to the specific target market and buyers in the specific countries. The best marketing strategies are those that adapt to the changing needs of customers. For instance, a buyer of office furniture looks at office furniture differently when compared to a customer for the same product in the Netherlands or the UK.

Marketing automation

One of the biggest differences between the marketing strategies used in the US and Europe is that in the US, companies are looking at how marketing automation rapidly steps up to the next level such as machine learning and AI. The EU market, on the other hand, is playing catch-up on this front, and the gap between adoption and the technical offering is getting larger.

Get in touch with us for more insights on global marketing transformation and tips on growing into the European market.

Does Your Digital Marketing Strategy Pass Our Test? Three Things You Can Improve Today!

To sustain profitability in today’s competitive market space, a digital marketing strategy plays an extremely crucial role. But it is equally critical to establish a successful digital marketing plan to stay a step ahead of your peers. Many big organizations’ leaders lack clarity on what “digital” means for their strategy. They underrate the degree of digital disruption to the economic underpinnings of their businesses. They also don’t give much importance to the speed with which digital ecosystems are blurring the boundaries of any industry and this is the reason why their digital marketing strategy fails. Therefore, the only way for leaders to cut through inertia and improve is to take tough steps on four fronts: ignorance, fear, guesswork, and diffusion of effort.  In this article, we have discussed how an organization can improve overcoming inertia while building confidence about how to design an appropriate digital marketing strategy and master the new economics of going digital. This can give your digital marketing strategy Get More Infoa jolt and accelerate the shift of your digital marketing plan as a whole.

marshall field (2)

# Improvement 1: Deal with ignorance effectively

In an organization, many senior executives are not fully fluent in what their digital marketing plan is and how it can change the way their businesses operate or the competitive context. They tend to invest in cool digital technologies, which might not be relevant to their business. This is due to the lack of a clear understanding of whether such technologies can generate value for their business. They are also more likely to make overlapping, fragmented, or subscale digital investments. Ignorance, ultimately, slows down the pace at which a business deploys new digital technologies. This can be improved by raising the technology IQ and overcoming competitive blind spots. It can also help in formulating a digital marketing strategy more effectively.

# Improvement 2: Replace guesswork with smart work

An aggressive digital marketing strategy involves taking the occasional leap of faith. You are likely to move into new areas and recondition existing businesses with advanced technologies. While making a digital marketing plan, it is likely that you’ll take some hasty decisions based on your intuition or guesswork. One way to fight this guesswork is to evaluate your strategy decisions based on its implications in different businesses and their outcomes. Another way to reduce the need for guesswork is to take complete advantage of real-time data and the opportunities they provide for experimentation.

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# Improvement 3: Avoid the risk of diffusion

An effective digital marketing plan requires focus but responding to digital technologies inevitably risks diffusion of effort. Most companies we know are struggling and trying to do two things simultaneously: creating innovative new digital businesses and reinventing the core by digitizing and automating some of its key elements. This poses an acute challenge because of the unsteady pace of digital change and uncertainties surrounding the adoption of advanced technologies. Therefore, in such a condition, you can improve in two ways. One is analyzing the portfolio of initiatives of your company at different stages like nurturing, seeding, growing, or pruning. The other is embracing the necessity of big moves like sustained capital investment, dramatic reallocation of resources, and radical productivity improvements.

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Ask Me Anything: All You Need to Know About Integrated Marketing

Today, with so many delivery channels available, how do you know which marketing channel works the best? The answer is simple – you don’t. Therefore, today, the best shot for success is to have a multichannel approach to marketing. This ensures that you are in the same space where your customers are. While planning your marketing strategy, you need to consider a plethora of campaigns and channels to find the best one that suits your business. But over the past few years, with the emergence of new digital marketing platforms, there has emerged a need to integrate different marketing channels into one unified approach to drive business success. In this article, we have defined what an integrated marketing plan is, why is it needed, and how to develop a successful integrated marketing strategy.Contact US

What is integrated marketing?

Many businesses keep looking for a single strategy for marketing that can drive the best ROI for their business. But, the fact is that there is no single approach that can work today as there are diverse platforms available and customers keep on switching one channel with another. This is why businesses have a better chance of success if they adopt a unified marketing approach across multiple channels. This is known as integrated marketing. It is a strategic approach to combine channels of communication and create unified and interactive user experiences. This helps in targeting specific audiences across all channels. It is aimed at creating a robust customer experience that can answer all customers’ needs and engages them with your business throughout their lifecycle.

Why is an integrated marketing plan needed?

An integrated marketing plan is needed for the following reasons:

  • To offer user-centric and personalized experience to customers
  • To gain detailed insights into customer interests and behavior
  • To keep an eye on the strategy of your competitorsRequest Proposal
  • To bring changes to your own marketing strategy in accordance with the ongoing trends
  • To design an effective marketing campaign that can give a good ROI

Building an integrated marketing strategy  

#1. Determine the correct metrics to track

To check whether your marketing campaign is yielding the desired outcome, the best way is to first determine your objective followed by the right metric. This helps you to understand what you need to accomplish. For example, if you are aiming at increasing brand awareness, start monitoring your web page and traffic that your website gets. You need to track how engaging your content is on social media and if at all your audience is showing their interest in it. You need to set a weekly or monthly target and achieve it.

#2. Back up your strategy with marketing automation

Marketing automation can help you put the right content at the right time at the right platform. This can further help you to position your brand better and, as a result, there will be an increase in conversions. The right technology helps you to simplify your marketing strategy, efforts, and prevents you from wasting time and resources on things that are not helpful for your business.

#3. Enhance your customer experience  

An integrated marketing plan helps you to engage with your customers not only at specific touchpoints but right from the beginning of their journey till the end. Look out for every opportunity to connect with your customers before and after the sale.

To know more about the benefits of an integrated marketing strategy

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