More so now than ever before, prospects and customers have to be reached in different and more creative ways that attract, engage and educate them. This can only be achieved by having a clear strategy and the ability to produce high quality on-line content and media that sets businesses apart from their competition.
But there is one major change. the realisation that the old way of marketing and engagement was most definitely not working. That is to say that linear, sequential marketing campaigns do not work and take too long to identify problems.
Inevitably businesses will look different; whether that’s because staff have been shed, or because some existing customers will have gone out of business. Either way the gaps must be filled. Everyone will need to re-evaluate and re-invigorate their businesses to recover what has been lost, but also to provide a firmer foundation for the future.
When it comes to Digital Marketing Transformation is not for the faint-hearted, especilly as it has been under-performing for decades and has become the worst department within a company for staff retention.
For the past seven years, the average tenure for a Chief Marketing Officer is eighteen months - worldwide. There are two fundamental reasons for this:
One: Marketers wanted a piece of the action and bonuses for new business generated. Their insistance for businesses to adopt Marketing Automation provided the measurement for their demands and tracked all the necessary activity. Marketers were given KPI's and targets just like sales people. It failed.
By using marketing automation and email forms to access content (to prove marketing qualifies leads - MQL's), forced businesses to hide their content behind a 'curtain' and then pay large sums of money to Google for Pay Per Click in order to send browsers to poor landing pages to access even worse content, only to recieve a cold-call as soon as the content was downloaded.
Marketing Automation became the modern-day substitute for cold-call door knocking to collect compliment slips with the name address, telephone number and the name of the person responsible for buying.
Two: Business have not graduated to scaleable marketing and they are being kept in the 1980's methodology of one-to-one sales and marketing, i.e. linear campaign strategies, by marketing departments executing one campaign after another instead of running all necessary activities concurrently.
The result of these two factors means businesses can only scale if they take on more staff.
The statistics speak for themselves; 20% of all businesses fail in the first year, 30% in 2nd, 50% in 3rd, 70% year 10. this equates to 91% of all businesses fail within ten years and these figures have never changed, even with the introduction of marketing automation platforms such as Hubspot, Marketo, Pardot, Eloqua etc.
In addition, the average turnover per person, per annum is £80k (up to £1m) to £168k (up to £10m), which has been the xcase for the past ten years, proving that all the tech in the world does not make anyone more profitable - if it's not used properly.
Not neccessarily. There is a school of thought that many businesses attempt to obtain investment to grow their businesses and end up simply growing the problem because of maintaining a one-to-one selling approach.
Furthermore, the failure rates for investment backed businesses are just as dire. 40% fail altogether. 75% never achieve their forecast targets. 95% never provide an ROI for the investors.
In simple terms; it's best to talk and ecide the best course of action.
A concurrent campign strategy means that you recognise it is necessary to create articles, video, podcasts, downloads and live streams to accomodate all personas, tastes and preferences.
Rather than budget for all of these strategies and tactics to be attempted over the course of a year or so, you condense the preparation and execute them all at once enabling your team to analyse, enhance or delete content depending on how well it performs, as you would a sales person.
We have created a modelling spreadsheet that enables you to select all the recommended content items required and calculate the cost and time it would take.
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We suggest that a successful engagement starts with a full and detailed discovery and analysis of where you are now, what your content and resources look like and what your goals are for the future.
To meet the goals, an integrated strategy, with a budget is provided. As part of the budget we would recommend a number of days per week/month where your consultant would be dedicated to your business and become a regular fixture for your staff.
Once a plan and budget is approved, your consultant needs to work hands-on to realise the marketing and new business generation vision. The consultant will work with you and your existing staff to execute the plan, drafting in, whenever necessary, specialists from our network of marketing professionals, where internal resource doesn’t exist.
Normally, much of the existing content is used and recommendations for new content, such as videos, podcasts and long-form blogs will be made. Content is King, and right now, this would be the focus so that you can reach your target market using all possible media.
If you do what you've always done, you'll get what you've always got.
Firstly you need to identify how long the revolving-door marketing recruitment has been going on for (and not to dwell on how much it has cost you). Then click on the link below to see how we approach managing your marketing transformation to help you achieve the results you've been expecting.