It may be just another gloomy January day, but our content calendar says its #Get to know your customers day. Big woop! Another content day which may seem to have little significance to your business long-term, but could actually be used to drive some extra engagement.
Whilst you may think this day has little significance, it got us wondering about how customer expectations have changed in recent years.
It is reported that almost two in every five consumers prefer targeted marketing which delivers content relevant to their needs and interests, despite concerns over data privacy. This spike in preference for more tailored communications is convenient given that in order for marketing strategies to be most effective, they need to reach a set targeted audience.
Research indicates the use of targeted communications is driving ad spend globally, with the use of data centric platforms (like social media and paid media) dominating. By 2021 it is predicted online video advertising will grow at an average of 18% each year (twice as fast as other channels). Additionally, paid search will continue to grow at an average of 7% over this period, whilst traditional platforms like print will decline.
The increased use of targeted digital communications enables brands to gather big data surrounding their consumers and sales channels, which can be used to improve business strategies to meet customer expectations. This is shown to increase conversion and revenue for organisations, demonstrating the vitality of targeted marketing to business prosperity.
Whist many larger organisations have dedicated marketing teams to enforce this, many smaller organisations struggle with their marketing strategy due to a lack of direction.
For instance, whilst a small brand may want to take advantage of the digital boom by using PPC advertising, around 62% of small business owners find these ads do not perform as expected, potentially due to a lack of effective customer targeting. This may be because some smaller organisations (especially start-ups) can struggle when it comes to hiring the right talent at the right price, often settling for inexperienced talent which they can grow over time.
How can you engage with your customers?
Whilst we recognise even the most junior marketer has a knowledge of the importance of customer targeting, often elements of the research process are left out. To be most successful, marketing strategies should combine all three of the below stages to appropriately target audiences and grow revenue.
If you are struggling with your marketing strategy, you may be considering taking on some additional talent to help point you in the right direction. Working alongside businesses large and small, we are experienced in recruiting specialist marketing talent across a variety of sectors across agencies and in-house brands alike. For more information and a confidential chat get in touch with us today.
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