5 Ways to be one step ahead in the marketing game
Listen up – don’t waste time on what used to work in marketing…
1. Marketing technology is changing
Marketing technology is always changing. New platforms pop up and the way you market on them is different for each. But, the key is to not get caught up in what used to work, rather look at new opportunities and market where your audience is.
TV commercials are dying. This is a perfect example of big time corporations who are run by CFOs, and all they look at are impressions, marketing costs, and potential eyeballs. But, it’s 2019 and we all know everyone grabs their phone during a commercial.
However, as live streaming becomes more and more popular, platforms like Hulu, Youtube TV, and Sling, are taking a different approach to tradition TV commercials.
Commercials are not dead, but the way they are delivered is changing. For example Hulu lets YOU pick what type of advertisements you want to see, while keeping their ads to a 30-60 second max, compared to traditional cable TV which runs commercials much longer.
2. Look at how startups market their brand
Startups typically have more brand savvy employees. Why? because their budgets are smaller and they are forced to stretch the dollar.
This means they have to be creative in how they reach their audience and how they grow their brand.
I’m constantly looking at how smaller niche brands are marketing. It’s typically a very lean approach that is tracked on every level, not just dollars and reach.
A perfect example of this is Air BnB – as the great Garyvee once said “Air BnB should have been created by Hilton…” but they had no reason to be innovative in their marketing approach because they were winning, not looking ahead to what was coming.
Here, we actually see the lack of marketing and innovation from a big brand that ultimately let a small niche business model come in and disrupt.
3. Have more than 1 goal for each marketing strategy
Some may disagree with me on this one, but eh… When a team approaches me with a marketing initiative, the first thing I ask is “what is your goal?”
Most have great ideas, but when trying to understand what exactly their goal is – they fall short.
For example, if my marketing strategy is to increase my budget for a paid search campaign – i’m not just going to track clicks or direct sales from that campaign.
I will set it up so that while I’m sending traffic to the site – I am:
- Sending traffic to an audience specific landing page
- Making sure the content on that page is relevant to that audience
- A/B testing the landing page
- I have some sort of lead generation on that page
- If they go to exit I am offering an incentive to stay or make a purchase
- If they opt-in for an offer – I am following up and engaging them with content that provides value
- As for direct sales, I would want to increase my conversion rate obviously
- Lastly – I am tracking every step in the customer journey
This ensures that even if this marketing campaign isn’t up to our ROI standards – I’m at least learning where this audience may be dropping off and why.
It’s then back to the drawing board to tweak and optimize. Never lose, always win or learn.
4. Communicate with your developers
When managing the growth for an eCommerce business, it’s important to have a good rapport with the folks who handle the backend of your website – the functionality.
Understanding the roadblocks and issues they encounter on a daily basis will give you peace of mind when trying to launch new UX or site enhancements.
As marketers, we want to see site improvements made within hours. Unfortunately, that is not the case most of the time. So, it’s important to have patience and understanding of how things work.
Communication within the team is essential to make sure everyone is happy during the building phase.
5. Think outside the box
I’m 100% about being innovative and the first to see a new marketing strategy work. While having the traditional and obvious marketing plans in place is essential, it’s just as important to go against the grain and not blend into the information overload we see today.
How do you stand out in a world full of information overload? That is the golden question I ask anyone on my team. Although I mentioned earlier it’s great to see what other companies are doing, it’s just as important to stand out and put your own twist on things.
Ultimately, you want your brand or business to be remembered. To be seen and known by all. In the end, all you have is your brand. All social platforms could be gone tomorrow… ask yourself “Are we too reliant on one platform to drive our brand?”
If that is the case… then you’re not thinking outside the box…
Stay 1 step ahead, never stop learning.
Cheers!
Dan