Marketing organizations seem to have lagged behind when compared to other sectors in terms of technological transformations and customer expectations. From the growth in popularity of online shopping channels to personalized ad campaigns for specific customer groups, consumer marketing strategies have evolved drastically over the past decade. Although the channels and technologies used by modern marketing companies have changed considerably, the manner in which tasks are approached remains more or less the same even today, and that is not a good sign.
Organizations that continue to roll out large and infrequent campaigns, rely on media purchasing agencies and are organized by geography or by-product fail to take full advantage of the latest digital and advanced analytics tools. They can be used as effective marketing tools to chalk out marketing strategies that are more engaging, effective, and agile. Making use of these capabilities for effective marketing strategies requires new management approaches.
Failing to have a comprehensive understanding of the target customers can result in failed marketing strategies. Request a free proposal to know how we can help your business streamline processes and build the right marketing strategies.
Building new age marketing strategies
Manage internal and external partnerships
Organizations must leverage opportunities for advanced marketing strategies available today including search, social, programmatic, and content management. Internal and external teams that deliver these services must aim to function as an interconnected ecosystem. A key decision relating to marketing strategies to be made here is to figure out what needs to be handled internally and what must be outsourced to an external partner. It is advisable for the brand to handle core competencies such as strategy, while execution functions such as experimenting with new media or channels can be outsourced to external partners.
Build globally dispersed networks
Over the years, a common practice followed by brands to manage marketing strategies is by putting a global team under the control of global marketing campaigns and assigning a local team to locally execute these campaigns. This could often create a clash between teams, especially with local teams thinking that the global team lacks a comprehensive understanding of their market. To combat this issue while promoting marketing strategies, a new age concept brand tribe has emerged. Brand tribes refer to an informal and globally dispersed network of marketers who come together to identify and share their best assets. Instead of the conventional top-down approach, these brand tribes have community managers who foster global collaboration, post insights, promote assets for particular markets, and discourage off-brand execution. This can also act as a way to reinforce brand standards.
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