Having engaged customers is, of course, the holy grail for marketers. Some may argue that increasing sales would be the ultimate goal but I would argue back that the more engaged customers are the more happy they are and in turn the more revenue will be generated.
A recent global survey of 255 executives across a range of industries and functions from both the brand agency sides of the aisle conducted by Forbes Insights and sponsored by Oracle Marketing Cloud, identified four (4) keys to success in translating marketing visions into more engaged customers via a better relationship between brands and agencies.
1. Successfully mine all of today’s rich sources of data. There is of course no shortage of data available. In this context, however, attribution is essential for understanding the effectiveness of marketing campaigns and knowing which investments will deliver the best results.
Lisa Donohue, CEO of Starcom USA says they tag all the digital media used in each campaign, whether the channel is the Internet, mobile devices or television. “This helps us understand who is clicking on the ads and what do they as a result. Ultimately, we can then tell if they have made a purchase, which puts us in a better position to track the efficacy of the strategy that we implemented.”
However, Kevin Koh CEO of DDB Group Korea cautions marketing organizations to not lose sight of the art and science of the profession. For example, he sees great value in information that can help convince clients of the efficacy of a new campaign. But while important, the wider use of data analysis shouldn’t be allowed to quash creativity.
2. Capitalize on the latest technologies for understanding customers and managing marketing programs. Survey results revealed that marketing executives express a widespread understand- ing that the latest digital technologies are powering marketing efforts for agencies and marketing organizations alike.
Survey results also showed that brands and agencies are relying on a range of technologies to further their customer- engagement efforts. Among the most widely deployed applications are social networking tools, web analytics, digital advertising platforms, marketing automation systems and multichannel campaign management programs.
3. Enhance professional and personal skills. New demands mean agencies and brands require new skill-sets to be successful. This includes finding people with a broad understanding of businesses, not just the marketing function. “As corporations rethink the role of marketing, we’re seeing deeper integration not only between marketers and their agencies but between marketers and peers in the operations, technology, product and finance departments,” says Patrick Adams, Head of Consumer Marketing, North America. “What makes a stellar head of marketing today is someone who not only has the marketing skill-set, but who can also flex across technology and product/merchandising. That skill-set makes for a great marketing leader and will ensure success in the future.”
4. Balance local and global imperatives. Mindful that brands have a global reach, marketing executives must pay attention to regional differences across various international markets. Top local considerations, according to the survey, are what existing technology foundations are prevalent in a target country and the cultural characteristics that must be addressed.
Executives say brands can’t effectively connect with local customers without a strong regional presence in important markets. Adams says PayPal relies on marketing teams dedicated to overseeing consumer experience in local markets and those teams interact frequently to discuss performance results, new product launches and other initiatives.
Download The Age Of Brand, Agency & Customer Collaboration and learn how executives can forge close relationships with brand or agency peers, while achieving all the other imperatives that define marketing success today.