3 Things Smart Marketers Need to Do in 2018
1. Know where your money is going
“For all the promise that shiny digital marketing technology holds,” says Charlotte McEleny from The Drum, “the best thing about it is that you can track and measure it. However, without this knowledge, just 25% of digital ads could be reaching consumers, leaving 75% of that investment to waste.”
“Smart marketers are using attribution modelling and advanced analytics to fully measure the effectiveness of where they are, or aren’t, spending on marketing. This often requires an upfront investment, but it’s really worth it. Even big name brands like Coca-Cola and Proctor & Gamble are trying to simplify their own models, so they can better track the ROI of what they have invested.”
“There will always be an element of ‘speculating to accumulate’ in marketing. But if you feel confident that the majority of your marketing spend is going the right way and is bringing returns, then the small part that isn’t becomes more of a guilt-free experimental pot, which you can use to invest in other trends like blockchain or AI.”
2. Focus on micro influencers
According to Upali Dasgupta from Hootsuite, marketers should harness the growing trend of micro influencers. “Influencer marketing became a buzzword sometime in 2016 and brands have been seeing varying degrees of success with their efforts. While the tribe of paid celebrity influencers will likely keep growing in 2018, the focus seems to be shifting to peer and micro influencers.”
“Micro influencers are everyday consumers who have a large social media following. They rank high on trust and authenticity – a currency that’s fast becoming rare, according to findings from the Edelman Trust Barometer.”
“With Facebook and Instagram changing their algorithms to fill users’ feeds with more authentic content and downgrade brand-created content, micro and peer influencers will become an even more important channel for brands to explore and leverage.”
3. Make it personal
As Philip Kitcher from Stylehaul points out, personalisation is another key marketing trend for 2018. “Marketers should focus on leveraging business intelligence to develop more creative ways of personalising the consumer offer, whether it’s across content experiences or new digital products and services. As the technology to track consumer attitudes and purchase behaviours becomes increasingly sophisticated, it’s essential to integrate consumer intelligence into your broader marketing strategies.”
While fostering that personal connection with consumers is important, it’s also vital to bring this mindset into agency-client relationships. “Be realistic about what the KPIs are and what can be achieved within your budget,” says Kitcher. The key is to make sure that everyone’s expectations are aligned and to establish clear lines of communication. “Get the people part right – this will allow you to develop deeper, more honest and meaningful relationships with business partners, which will in turn help your marketing strategy to succeed.”
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