MARKETING as we know it is dead — long live the new age of marketing.
In a recent survey of nearly 2000 CMO’s, IBM uncovered 4 marketing game changers — changes in the environment around marketing requiring massive changes in the way we now do marketing.
Marketing Game Changers
As you can see, CMO’s identified the 4 marketing game changers as:
- Data explosion
- Social Media
- Proliferation of channels
- Shifting consumer demographics
Thanks to my reader, Sanjay Shetty,for bringing this to my attention and creating the graphic.
Of course, it’s probably the additive and multiplicative effects of these 4 game changers creating the most impact and changing business as usual.
In their executive summary, IBM notes:
Customer expectations are rising. They want better products and services, more choice and more value. And, they expect organizations to act in a socially and environmentally responsible manner.
So, lets take a look at how you’re business can use this information to explode your business opportunities.
Game Changer #1 – Data Explosion
IBM’s report highlights the amazing amount of information created online every day. As an example, YouTube users upload more content in just 60 days than the networks created in 60 years.
Data explosion is a 2-edged sword. It creates a way for businesses to learn new tools for optimizing their business and learning about their customers and prospects. Online data also help businesses do a more thorough environmental scan allowing firms to construct strategies for success.
But, a plethora of data makes it hard for your firm to reach prospects — especially in a search.
- How do you get your firm to stand out from the crowd?
- How do you search through all that data to see what folks are saying about your business?
- How do you find the information you need to optimize your business with so much information out there?
- How do you ensure you find and respond to comments from customers and prospects in a timely manner?
- How do you effectively engage customers with so much noise out there?
How to handle this marketing game changer
1. Effective search engine optimization (SEO)
Effective SEO will help customers and prospects find your firm in the ocean of data available online. SEO helps your pages show up in the first position when folks search for solutions, which is critical because folks select the first 3 search results 79% of the time.
2. Effective listening
Even if you don’t have an online presence for your firm, you need to listen to what customers and prospects are saying about you online if you want to protect your brand. I like Radian6 because it’s very good at finding the needle in the haystack — that negative comment in a sea of data. But, Radian6 is very expensive. Trackr is a good alternative.
3. Dedicate employees trained to handle engagement
Don’t expect employees to squeeze customer engagement into their already busy schedules. Plus, PR and marketing folks don’t usually understand how to engage customers — commonly using disruptive, push marketing rather than being customer focused.
Plus, ignoring comments on your website or in social media can cause damage to your brand.
Get the report
If I’ve peaked your interest, you can get your own copy of the report here.
And, stay tuned for my next post on the second game changers — social media