Business leaders expect to make many difficult decisions to help their companies succeed. What they can’t anticipate, however, are the actual market shifts their organizations will inevitably face.
Unforeseen circumstances—such as the Covid-19 pandemic, the Great Resignation or even the ever-growing social awareness of a younger generation of consumers—can present real-time challenges that companies must address quickly and in the right way to ensure their continued survival.
Below, members of Forbes Agency Council explore different ways agencies are adapting their outreach and offerings to better accommodate market shifts in 2022.
1. Shifting To Digital Marketing Techniques
In the B2B space, more and more decision makers are becoming younger and younger. So there is a huge shift from traditional marketing techniques to digital marketing techniques in the B2B space that is far outpacing the B2C space. – Scott Miraglia, Elevation Marketing
2. Deepening Social Impact Through Partnerships
We have doubled down on our paid digital service offerings and deepened our partnership with our sister agency, Ethos Giving, which focuses on supporting companies to do good in the world through social impact efforts. – Nathan Miller, Miller Ink, Inc.
3. Developing Systems For Attribution And Visibility
Working heavily in a B2B/software as a service space, we’ve had to adapt to this industry expecting and needing attribution and data visibility in terms of revenue impact. Clients need to see the true revenue or customer impact from every effort—even trickle-down ROI from upper-funnel channels. We’ve had to develop data services that build out the systems to do this at scale and go beyond just pure ads execution. – Brian Walker, Statwax
4. Ensuring Evolving Employee Needs Are Met
An agency or brand must constantly be adapting and evolving with market trends, from employee needs such as remote work and work-life balance to the physical machinery and tech platforms that will ensure they can perform their jobs as quickly and efficiently as possible. – Jessica Hawthorne-Castro, Hawthorne LLC
5. Focusing More Heavily On Paid Media And E-Commerce
Over the past five years or so, we have adapted to market needs by focusing more heavily on paid media and e-commerce. While we were built on SEO, pivoting has been necessary in order to drive results faster. These two channels allow for greater flexibility when it comes to dealing with short attention spans and growing competition. All demographics want valuable information fast, so these channels bridge the gap. – Bernard May, National Positions
6. Offering A Full-Service Experience Within A Campaign
We’ve always offered a full-service experience, with strategy, content creation and platform management included. Now, we’re focused on that experience within a campaign. We know that all of our ideal clients need landing pages, transaction (checkout or sign-up) pages and content to funnel leads through, so we designed packages and programs around that. – Vix Reitano, Agency 6B
7. Constantly Tracking Where Consumer Attention Resides
We are constantly adapting as we work in the social media space. We have one North Star, and that is to ensure that we understand where consumer attention resides. Recently, for example, consumer attention shifted away from platforms such as Facebook and moved to TikTok. Attention shifts all the time, but if you track where attention is, you can smartly adapt your offerings and channels. – Aliza Freud, SheSpeaks, Inc.
8. Keeping Up With Current Events, Industry News And Platform Updates
We have adapted to market demographic shifts by remaining informed of current events, industry news and platform updates. This keeps us aware of where our clients’ customers spend time and the content they engage with. For example, we onboarded a client who had a primary audience segment of 15- to 20-year-olds, so our team recommended a 20% budget reallocation from Facebook Ads to Snapchat Ads. – Tellef Lundevall, Accelerated Digital Media
9. Paying Attention To Target Clients’ New Pain Points
We have paid attention to the new issues and problems our target clients are experiencing, with most of them being in the creation of video content and/or making sense of TikTok. With that understanding, we have not only developed services that help educate our audience as to best practices but have also created services that would help alleviate these concerns. Open your eyes. – Christopher Tompkins, The Go! Agency
10. Grouping People Into Audience Segments By Behavior
We are shifting away from grouping people into audience segments by demographics. Instead, we are focusing on how people behave, such as their stage in the sales cycle or propensity to convert. By integrating first-party customer relationship management data with media performance and site engagement data, we can run our own analyses to determine how to group and target individuals beyond just their demographic info. – Donna Robinson, Collective Measures