With 1.5 billion social media users around the world, it's a market that businesses should take advantage of. Unfortunately, only a few companies are optimizing their conversion rates in the best possible way, with only 22% of companies satisfied with their results. This means that more effort must be put into converting potential customers into actual customers. Marketing campaigns should be based on knowledge of your audience and what they need to interact with your business.
Digital marketing helps you target the right audience by collecting data and understanding what works for your market. Long-term branding, promotion, increasing influx, or generating high-quality leads are all marketing objectives that require different metrics to demonstrate success. All marketers face their own unique challenges, but they need to have a broad idea of the forces at play that can affect decision-making, work processes, and any opportunities for growth. Many companies will need to explore what hasn't yet been done with respect to creative marketing methods outside of traditional practices.
Digital marketing offers a lot of opportunities when it comes to obtaining data and using that same data to help improve the success rate of your marketing efforts. Scott Clark is a seasoned journalist based in Columbus, Ohio, who has made a name for himself covering the ever-evolving landscape of customer experience, marketing and technology. That's why a marketing team must think proactively instead of just reacting when customers come up with an enquiry. Expect to see a recalibration between long-term and short-term marketing investment from those who have leaned too much in either direction next year.
The report indicated that more than 1 in 4 marketers are currently using influencer marketing, which provides the second highest ROI of all trends. With the help of digital marketing, you can attract a potential market of customers and, hopefully, convince them to convert. However, instead of using those levers indiscriminately, marketers should rethink and review the segmentation of their lists to maintain a reliable revenue stream. Marketers may fall short of this type of marketing because they've chosen the wrong people without a relevant audience or reach.
Marketers are facing a difficult year, but they are better able to spot opportunities and maximize media spending if they understand the changing trends in the industry and how customers respond to changing circumstances. It's not about asking their suppliers to audit their use of technology, which is always good advice, but for everything else it's what I see in my work, in the news and in conversations with other marketers.