With today’s digital marketplace, businesses have never had so many options for getting their marketing messages in front of the public. Still, that doesn’t mean digital marketing is “easy.” As new platforms, tools and technology emerge, best practices in marketing change. Consumers are becoming more and more savvy to anything that smacks of a gimmick, and their expectations for meaningful, personalized outreach continue to rise.
However, every audience is not the same, and meeting your target customers where they are and providing the unique information they need to know is essential to success. With all the options out there, it’s important for companies to not only keep up with the latest trends in marketing but also to carefully track which marketing methods, platforms and messages work best for them. And in this digital world, it’s not only the outreach methods that are changing — trends in marketing analytics are evolving as well.
Businesses looking to develop a well-rounded, accurate view of their marketing efforts need to blend old-school detail work with modern tech tools — all while being aware of the legal and ethical responsibilities that come with digital interactions with customers. Below, five industry leaders from Business Journals Leadership Trust share smart strategies to help you navigate modern marketing analytics.
1. Create target audience profiles.
Get to know your audience on a granular level, and do it by hand. Create samples of your target audience profiles, and then look through those profiles to see what they value, care about and love (and love to share). Doing it by hand as opposed to doing it via artificial intelligence is key. – Christopher Tompkins, The Go! Agency
2. Assign different weights to different platforms.
True cross-channel media optimization continues to be more and more critical. Media platforms are shifting on a daily basis, and your marketing efforts must constantly add different weights to different platforms to meet your brand’s KPIs and acquisition goals. – Jessica Hawthorne-Castro, Hawthorne Advertising
3. Expand your use of AI.
The next big trend is definitely expanding the use of artificial intelligence. As AI becomes more sophisticated, marketers will apply it more and more for things like a detailed analysis of customer behavior, predicting customer needs based on behavioral patterns, and targeted marketing messaging and campaigns. To prepare, businesses need to make sure they have agile marketing teams ready to adapt to any change. – Peter Abualzolof, Mashvisor
4. Integrate predictive analytics.
While digital marketing is maturing in some aspects, it is still an evolving discipline. I believe the next wave is integrating big data, predictive analytics and machine learning to target “what’s next” in a customer’s purchasing lifecycle. Doing so will allow organizations to predict a customer’s next purchases and influence and market to them even before they realize they have a specific need. – Quoc Nguyen, Arthur Lawrence, LLC
5. Stay up to date with changing laws.
The changing landscape of digital and data privacy laws will continue to challenge marketers. Understanding how to collect data in a compliant way in all the jurisdictions in which you do business, while still achieving relevance and personalization, will become even more of a balancing act. – Jen McClure, 2GO Advisory Group