There are different challenges faced by marketers.
Maybe you aren't keeping up with the latest trends. Major global events can make it hard to pivot your marketing strategy.
It can be hard to know which areas to focus on in order to facilitate stronger growth in the future. In order to plan your strategies accordingly, we asked 500 marketing executives to predict the top challenges they will face in the next five years.
According to new data from over 500 marketing executives, marketing leaders believe they will struggle with some global issues in the years to come. There are tips on how to fight these challenges from experts.
The adoption of a data-driven marketing strategy is one of the top challenges of the next decade. Bryan Law sympathizes.
"We're all feeling the pressures of a possible recession and almost every company will face challenges with revenue growth and marketing spend in 2023." Adopting a data-driven marketing strategy will ensure that every effort is as effective as possible.
There are two big levers you'll want to pull in the future to adopt a data-driven marketing strategy. Let's see those now.
Daniel Godoy, Microsoft's Global Head of Programmatic Evangelist, told me that it's important for marketers to keep first-party data in mind if they want to expand their reach in the future.
Godoy says that marketers feel the pressure to win. It is worth mentioning that consumer media behavior and advertising strategies are changing. It should be on our radar that at least 40% of browsers don't get signals because of the cookies deprecation.
He says that it's necessary to leverage 1P or 3P trustable data to expand potential reach and begin piloting your data strategy for the future.
First-party data can help you reach the right people with your ads, and turn them into high-quality leads.
Law suggests that you first define your audience. I was told by him that marketing leaders need to collect custom attributes. He tells leaders to create dynamic prospect lists.
You will need to develop unique messaging for your prospects once you have defined your audience.
As Law puts it, "You'll need to figure out how to convey your ability to alleviate their challenges in a unique way to penetrate the significant market noise. Practice consistency in your overall theme, and include contextual personalization when applicable."
Data will be used to reach the right buyers. Law told me that using technology to identify and engage at the contact or persona level is helpful. You will need to test, measure, and make changes.
Set up metrics to help understand your campaign's performance. The data can be used to confirm that your message is reaching the right people. If you want to see success in the future, you need data to drive this process and its iteration.
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Data can help your team remain flexible and adaptive as trends or consumer preferences shift over time, so preparing a data-driven marketing strategy in 2023 will be essential.
It wasn't just a challenge to stay up to date on marketing trends. Keeping up with the latest marketing trends will be the biggest hurdle for marketers in the next five years.
This is correct. There's a lot of trends we saw spike in 2022, from branded audio to augmented reality. It can be hard to know which trends to avoid and which to keep.
It is possible to stay informed of which marketing trends matter most to consumers by reviewing up-to- date marketing reports. If you want to learn more about what's happening in the industry, you can subscribe to marketing newsletter.
Ask your consumers what trendsmatter to them. It's possible to better understand the topics that matter most to your audience by asking consumers about their favorite TikTok reels.
If you have a list of marketing trends, you can try to implement them on a small scale. It's important that testing is done here. You can read about the effectiveness of short-form video content all day long, but until you try it for your own brand, you don't know if it really matters.
Competition is a concern for many marketers when they look ahead. Many marketers struggle to create content that stands out in a crowded market.
Increased competition from other brands is the biggest concern for marketing leaders.
To combat this challenge, marketing leaders will want to conduct a competitive market analysis, which can help them implement stronger business strategies and identify potential opportunities to out- perform their competitors.
Asking your team to flag any tactics other businesses are using is a good idea. The social team can look at competitors' social channels to see if there are any gaps. If that's the case, your team might highlight their personal favorite blogs, and show how they can use their own content.
It is possible to ensure your business is ahead of the curve by hosting regular team brainstorms.
You don't want to follow along with your competitors. Even if your competitors aren't using social channels, it's a good idea to experiment with new platforms.
According to 12% of marketers, their biggest challenge in the years to come will be using their customer relationship management.
If you don't know how to use a customer relationship management system, it can be difficult to use.
Take a look at our ultimate guide to using aCRM to find out how to use it the best. If you want to integrate your other tools in one place, you'll want to purchase aCRM.
To leverage yourCRM to its fullest potential, you'll want to expand usage with a flagship use case. It's a good idea to figure out a gap or pain point with your current process that is solved by an unused feature of theCRM. If you want to create more connection within the organization, you need to evangelize how yourCRM will address that problem.
The teams lives can be made easier by using additionalCRM tools. Over time, this will increase adoption and eventually lead to a compounding effect, as a more connected process increases theROI of yourCRM purchase
Starks suggests that you figure out the core questions you have of your data in order to get the most out of your data.
She suggests that you have the answers to the questions. Think about what questions you might have after you get the answers. Taking time to map this out can help align the team around the ways your process may need to shift to ensure the right data is available and structured in the future.
Businesses have been required to show new levels of flexibility.
Users' expectations and preferences were greatly impacted by the Pandemic. Users spend more time watching videos online than they did before, and they want more fun and authentic content.
Businesses have had to adjust their marketing strategies due to political turmoil and recent changes in the economy.
It's worse to stick to the status quo when it's riskier to invest in new strategies. It's important to keep up with global trends to understand what your consumers' needs are as the world changes.
If you don't pivot you could seem tone-deaf.
It's no secret that pivoting their marketing strategies will be a roadblock for them in the years to come.
Godoy knows how to deal with the challenge of changing strategy. He has a solution that he can use.
Changes in our lives and work schedules have been brought about by the Pandemic, and hybrid work possibilities allow us to balance work and personal responsibilities at the same time. We used to be determined to do certain things at certain times.
He says that we're paying too much attention to the upper and lower sides of the funnel. Human decisions do not happen in a straight line. Audiences exposed to brand and performance are 6 times more likely to convert. You will get clarity on how the missing middle works for your brand if you capture signals of intent and map them.
If your marketing efforts aren't working, it's important to understand your prospects' behavior and intent. Agile marketing is also used here. Agile marketing uses short sprints to shift focus, adapt to customer needs, and change priorities.
When global events change your plans, Agile marketing can help your team become more flexible. It can help teams recover quicker from revenue losses.
Doordash had an operating loss of $616 million and revenue of $2.89 billion in the year 2020. They were able to respond to their consumers' needs by delivering COVID test kits and launching the #openfor delivery campaign.
Doordash dropped their pre-planned marketing approach and pivoted quickly to support their customer needs.
It's important that you keep an eye on both marketing trends and global events to make sure you're changing your strategy when necessary.
To keep up with the latest trends, you'll want to keep an eye on your social media channels. Social listening tools can be used to keep up with trends.
Most marketers look at traffic and leads.
According to 11% of marketing leaders, generating traffic and leads will remain their top challenge in the years to come.
If marketers are doing well with these metrics, they want to improve them.
It is increasingly difficult to get traffic to your site due to the features of the search engine. More than half of the searches done on the internet end without a click.
Constantly updated, around-the-clock content is part of the reason why social media is so popular. It's getting harder for brands to create content that stands out.
Marketing leaders are having a hard time getting people to buy their products. They don't know how to promote their content effectively on different platforms.
To combat the challenge of creating high-quality content that is relevant to your audience, you'll want to use effective tools to track the types of content that perform best with your audience.
When you know what type of content your audience wants, the focus shifts to promoting it in a way that makes them notice.
People are getting a lot of information. People don't need a search engine to find answers. Mobile notifications fill their news feeds with articles. If you want to increase brand awareness, consider using alternative distribution methods.
You could try out influencer marketing to get more traffic. Micro-influencers have high rates of engagement and are often seen as experts on certain niche topics, which can help you generate high-quality traffic and leads.
Top talent is the top anticipated struggle of the year. Jamie Gilpin is the chief marketing officer at Sprout Social. As they head into the new year, she told me that hiring and cultivating top talent is a priority.
Marketing needs candidates with different skill sets as the discipline is evolving. Social media is playing a larger and larger role in every brand's marketing strategy and requires highly skilled professionals with in-depth knowledge of social media.
With new platforms, features, and more consumers preferring to interact with brands on social, marketing teams are tasked with hiring and developing talent who understands the total impact social media can have on your organization.
It's important to focus on your employer brand in order to get top talent.
In order to attract talent with unique skill sets, our company has worked incredibly hard to build a strong employer brand that clearly communicates our values and culture to current and prospective employees. We have been able to amplify that message by using the social influence of our own employees.
By helping our employees become brand advocates on social, we have seen the visibility and authenticity of our content increase. Whether it is announcing a new product, sharing a company culture initiative, or promoting a job opening, our employees have become our greatest asset in building brand awareness that will help us continue to grow our team.
One of the most effective ways to attract top talent is to strengthen your employer brand, and using your employees' unique perspectives will help you demonstrate more authenticity in your recruiting materials. Marketing leaders will want to look at how they can turn their employees into brand advocates.
Interested in the trends and opportunities being discussed by marketing leaders? Act Like a Leader, Think Like a Leader: Data from 300 Marketing Directors on How to Take Your Team to the Next Level is a good place to start. You'll hear from experts at various companies along with the data.
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