Ever wonder what happens to the marketing strategies of brands that become obsolete?
Traditional marketing is often considered to be a set of tactics used to attract customers into purchasing a product. But are these tactics really obsolete, or could they be repurposed and used to attract a new audience, with a new purpose?
In today’s digital world, marketing strategies are no longer simply about attracting potential customers to purchase a product. Today, marketing strategies revolve around data-driven decisions that support business growth.
So what does this mean for the future of marketing? Will traditional marketing tactics become obsolete in the wake of digital transformation?
Let’s take a look.
Marketing Is A Scalable Engine
One of the biggest changes that came with digital transformation was the fact that marketing could be scaled up or down at any time.
When a business decides to enter the digital realm, scaling up their marketing plan is typically the first thing they do. After all, if they’re successful in attracting audiences to their sites and social media platforms, they can easily expand to other channels, like mobile, email, and voice commerce.
This isn’t a bad thing; it’s a testament to the power of the internet and how much marketers love data.
One of the biggest challenges of scaling up is determining where to draw the line. When you’re just getting started, it’s easy to think that every channel is on the same playing field. But as your email campaigns, social media strategies, and web content start to converge, it can be hard to decide what to keep and what to discard.
Marketing Is A Conversational Engine
We’re always being reminded that content is king when it comes to marketing, and it’s not hard to see why. After all, people now have the ability to speak, read, and listen to content at the same time.
The lines between marketing and communication have blurred, which means that marketers now have to be both writers and broadcasters.
When someone consumes an advert or online content piece, they expect the writer to have an opinion on the matter. But oftentimes, the content itself doesn’t offer any value. What’s more, when someone lands on a site or social media platform, they’re not always looking for information, but they could be looking for something else, like entertainment or a feeling of community.
So instead of driving traffic to your website with clever marketing strategies, why not try creating entertaining or informative content that encourages people to talk about your brand? You might just find that your content isn’t just about attracting customers, but also encouraging them to engage with you, and to feel that you understand their needs.
Marketing Is A Feedback Engine
In a world full of competition, it’s essential to learn as much as you can about what’s going on, and how you’re performing. With that knowledge, you can then decide what to change and what to keep as part of your own marketing strategy.
If you’re using social media to engage with your audience, you’ll most likely see some positive and negative feedback. This is called “marketing analytics”, and it can give you a clear picture of how well your marketing strategy is performing, and where you might need to make some changes.
For example, if you’re getting a lot of engagement on your social media platforms, but nobody is responding to your ads, it might be a good idea to reduce the size of your digital banner ads.
On the other hand, if you’re getting an extremely high number of people viewing your online content, but there are no leads being generated from that content, it might be a good idea to experiment with a different type of content, or to put more focus on SEO.
The Importance Of Marketing Channels
When someone decides to enter the digital realm, one of the first things they do is evaluate the existing channels of communication, like email, website, and social media, to determine which one will work best for them.
Each of these channels has its unique advantages and disadvantages, and you need to determine which one will work best for your business.
With email marketing, for example, you have complete control over the message and the medium. You can create content that is both informative and entertaining, and you can choose the type of audience you want to reach, whether it’s B2C or B2B.
The main disadvantage of email marketing is its relatively low engagement rate compared to other channels. To get the most out of this channel, you’ll need to create emails that are both interesting and useful; otherwise, people will simply tune out, or delete them without reading them.
With website marketing, you can control the message, but you don’t have as much freedom as with email marketing. For instance, with a standard website, you can’t choose the type of content that appears on the site, and you have to follow a set structure when creating the content (like a blog).
The main disadvantage of website marketing is that, again, you don’t have total control over the message like you do with email marketing. If someone decides to visit your site, but isn’t feeling the vibe that you’re trying to promote, they may leave, with not much to show for their visit.
For social media marketing, you have more freedom than with either of the previous two channels, but there are still limits. Just as with a standard website, you can’t choose what content people will share on social media platforms, nor can you control the tone and direction of the conversation.
The main disadvantage of social media is that it’s extremely easy to get sucked into the chaos of billions of posts, making it difficult to find the content that is useful to you, the consumer. Like with email marketing, you need to engage with your audience on social media, but you also need to create content that is both useful and interesting, or people will simply tune you out, or unfollow you.
How To Reboot Your Online Marketing
So now that you have a general idea of what is and what isn’t obsolete in the world of marketing, let’s get down to business. The first step in revising your marketing strategy is to take a step back and assess what you’ve done so far. Have you used the same tactics to attract different sets of customers? Are you getting the results you expected? Is there a particular channel that doesn’t seem to work as well as you thought it would?
The best way to answer these questions is to review your marketing analytics. If you’re not sure where to start, here are a few helpful tips.
Review Key Performance Indicators (KPIs)
One of the first things you should do is review your key performance indicators (KPIs). These are the metrics that you track to determine the success or failure of your marketing strategy.
Depending on how much you’ve tracked so far, this may be a fairly simple process, or it may take some time. Whatever the case, make sure that you’ve reviewed the following key performance indicators:
- Website traffic (i.e., people who come to your site)
- Social media traffic (i.e., people who interact with your content on social media)
- Conversion rate (i.e., the percentage of people who view a specific advert or content piece, and then make a purchase, or take some other action, like signing up for a newsletter)
- Channels performed best for… (i.e., which channels worked best for driving traffic to your site, and then turning that traffic into paying customers)
Determine Your Overall Marketing Approach
The next step in re-writing your marketing strategy is to determine your overall approach. In other words, what will you do, and what will you avoid, in terms of strategy and tactics?
If you look at your analytics, you’ll most likely see that your website traffic is heavily concentrated on a few key pages. These are usually the home page, and the page containing your product or service listings. For this reason, if your goal is simply to drive traffic to your site, then you might want to re-organize your content, so that these are the key pages.