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10
trends in strategic marketing management for 2013
This post is by Darren Woolley, Founder of
TrinityP3. With his background as analytical scientist and creative problem
solver, Darren brings unique insights and learnings to the marketing process.
He is considered a global thought leader on agency remuneration, search and
selection and relationship optimisation.
For
the past three years I have been invited by the Editor-At-Large of BizCommunity
in South Africa, Simone Puterman, to
provide a list of the trends we have identified in strategic marketing
management on a global basis.
If
2012 was the year of confusion and uncertainty,
then the coming year is a time of choices and decisions for marketers in
regards to the way they manage their strategic marketing.
Last
year was certainly an economic roller-coaster ride.
In 2013 marketers will need to look through the uncertainty and make some
longer-term plans and make choices and decisions on how they will steer their
brands forward.
So here are some of the decisions and choices to be
made in 2013, in no particular order…
1.
Convenience or Specialist?
2012
saw a number of major global clients move from a roster of agencies to a single
supplier, purpose built as a single client agency within a holding company.
This is a reaction to the increasing diversity of specialist suppliers. Some
major advertisers are choosing convenience over quality as a way of managing
complexity. But others are embracing complexity and selecting the best of
category. The choice is up to the marketer and how effectively they can manage
their marketing requirements.
2.
Media Price or Media Value?
In tough economic times, media
prices have come under pressure making price benchmarking increasingly
variable. No longer do the biggest spenders get
the best prices. Now the smartest, fastest and most flexible are able to match
or better the deals usually available to the big media spenders. Which raises
the question, should you be buying media on the price it costs or the value it
creates? Just buying the cheapest media is not necessarily the best value. So
should you be buying your media on price or value? The choice is yours.
3.
Broadcast or Content?
The traditional advertising
approach is to broadcast the message to the audience through media channels.
But with increasing consumer engagement in social media, content creation and
content sharing, marketers are increasingly embracing content brand strategy
with mixed results. Only when the
marketer decides to move beyond a trial to a fully implemented content strategy
do they see the results build.
4.
Global or Local?
Glocal or global brand strategy
executed at a local level has been around for many years in various mixes of
global and local flexibility. But with a content-based
brand strategy local becomes global as local content has the ability to extend
beyond local borders to the wider global market. The barrier of ‘not
invented here’ becomes less of a barrier as great content has the ability to
transcend borders and engage various cultures. The choice is no longer how much
or how little control but what works and what does not.
5.
Storytelling or Experience?
‘Storytelling’, with the emphasis
on the ‘telling’ has been the content of the broadcast advertising strategy.
People sharing their stories drive social media. Therefore creative agencies
are focusing on becoming the storytellers for the brand. But in the digital
world, the opportunity is to go beyond storytelling and awareness to creating
branded experiences that engage the audience. When marketers choose this
approach, positive and rewarding experiences become the basis for the audience
to tell their own stories about that experience and build brand engagement and
the brand.
6.
In-house or Outsourced?
Technology has not only created
more communication channels and more opportunities for interactivity, it has
also created the opportunities to be able to manage these interactions in house.
Search Engine Optimisation and Marketing, Social Media, Content Production,
Data and Analytics are all increasingly functions that can be implemented
successfully in-house, where they can be easily accessed across the
organisation. The decision is what do you outsource and what is best in-house?
That depends on your needs, volume, investment levels and existing
capabilities.
7.
CIO or CMO?
For
the past two years people have been discussing the convergence of marketing and
information technology and the impact this will have on the CIO and the CMO.
In 2013 the decision will need to be
made as to the way these areas align and work together. While some have
alluded to the CMO becoming the dominant IT decision maker the fact is that the
CIO remit extends beyond communications and marketing alone into operations.
That is why the decision is not either / or, but how.
8.
Data or Insights?
While everyone is talking about
data, the real value is in extracting and leveraging the insights to influence
customer behaviour, increase engagement and drive sales and advocacy. While
technology allows marketers to collect and manage huge amounts of customer and
market data, the real challenge is in finding, training and developing the key
personnel who can extract meaningful insights from the data.
9.
Automated or Manual?
Technology is also providing
opportunities to automate many of the marketing and advertising processes.
Demand Side Platforms, Trading Desks, Media Trading and Buying are all based on
the efficiencies of an automated process to deliver a desired outcome. But it
goes beyond media channels to the creation and distribution of the content
itself. Automated workflow processes and production templates mean that content
can be developed, created and distributed in real time. The decision here is
where automation can be implemented to achieve maximum value.
10. Behaviour
or Attitude?
The link between consumer attitude and behaviour is
increasingly questioned, with studies showing that awareness and positive
attitudes do not readily convert to changes in consumer behaviour. Yet
marketers have traditionally relied on attitudinal market research to track the
effectiveness of their marketing communications strategies. Technology now
allows marketers to be able to track and study consumer behaviour with an
emphasis on positively changing behaviour as a way to build improved attitude
and engagement with brands.
“It is only when you exercise your right to choose
that you can also exercise your right to change.” – Dr. Shad Helmstetter.
So this year is the year to make the changes you
need by making the choices you need to make today.
Simple Past Tense : Bold
Simple Present Perfect : Bold and Italic
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