What is marketing transformation?
Marketing, like it or not, is a head office or admin function. Like most jobs today, marketing roles are susceptible to transformation, automation or outsourcing. If this sounds like the preserve of large corporations, you would be wrong. Companies of all sizes can transform their marketing and their ROI. Read on to find out more.
Why do I need to transform? And what is the impact of digital transformation?
Firstly, most companies do not have a choice. Whether it be a move from offline marketing to online, direct mail to e-mail, networks to social media groups or simply rapid growth, marketing will change.
Secondly, change is a fact of life for modern marketers. Technological change sweeps across the profession and digital skills become more important owing to the digital transformation of marketing itself.
Thirdly, staying agile in this environment requires marketing and business owners to develop a marketing strategy and marketing plan that are fluid and flexible. Also, they must be researched, right on trend and robust.
Think Beyond is a marketing consultancy operating from Wilmslow and Alderley Edge in Cheshire. We service clients across the North West and beyond. We specialise in marketing strategy to increase sales and marketing ROI and we even help you put that strategy into action. To speak to a Chartered Marketer at Think Beyond, call 01625 682110 now.
What types of transformation in marketing do I need to know about?
Broadly speaking, there are 8 main types of marketing transformation and they are as follows:
1. Rationalise websites and social channels
If a business has operated for a long time, it may have many websites, microsites, landing pages, domains and social channels. All of these carry cost and burden you can reduce by consolidating or switching off redundant services. Even a website that you are not using may be incurring hosting charges.
2. Rationalise brands, businesses and companies
FMCG and Retail in particular can consist of many brands, business divisions or legal entities. Logic may have dictated creation of new brands to target different segments or differentiate from competitors. New ventures and product lines with little overlap may have been set up as new companies with new logos, imagery and brand guidelines. Marketing agencies may charge a flat fee per brand or business or different agencies are contracted with different companies in your group. It may be time to consolidate.
3. Rationalise marketing agencies
We all know that there is a marketing agency for everything. In fact, there are over 25,000 marketing businesses in the UK. With the rise of digital marketing, you face a bewildering array of providers to deal with. Host website? Check. Build and manage website? Check. Graphic design? Check. Social channels? Check. The list goes on and seems endless. Imagine having multiple group companies and more than one agency supplying each type of service…
4. Rationalise brand building expenditure
Brand building can be expensive and long term. CEOs and CFOs may view expenditure as expendable due to the inability of measuring marketing ROI. Well-established brands may increase effectiveness by switching from TV to YouTube, Instagram or Facebook videos. An eCommerce business sinking thousands into Pay Per Click (PPC) may save by investing in Search Engine Optimisation (SEO) and personalising customer journeys for greater ROI.
Direct mail campaigns can give way to e-mail campaigns or increasing social media followers. New and agile companies may skip traditional marketing methods entirely and go digital. For example, deploying Search Engine Optimisation (SEO), social channel posts and online content to build brand awareness and followers.
Zero-based budgeting (ZBB) may force marketing to justify their budgets or lose investment to other worthy projects across the organisation. Market and customer research and leveraging neuroscience in marketing so that neuromarketing can boost your advertising ROI.
5. Rationalise technologies
Marketing is a highly technical field with software required to perform all manner of tasks, possibly more than most head office functions. There are also a large number of portals, subscriptions and services that may be needed. Acrobat, Dreamweaver, SurveyMonkey, WordPress, Eloqua, Salesforce, Marketo, Google Drive, Dropbox, SEMRush, Optimizely, Hubspot, Tableau, MailChimp, Google Ads, CIM, IDM, LinkedIn, Facebook, Instagram, Twitter, Shutterstock, Getty Images etc. There may be opportunities to consolidate or rationalise.
6. Increase marketing automation
For many, gone are the days where more marketing meant more manual effort, more printing and more people. There are, however, increasing demands on marketing in certain scenarios. For example, if a brand seeks to increase social engagement, publish more content or nurture more leads, would you hire more staff?
Not necessarily, with software automation available to post online, e-mail and tailor content to draw people in to become inquiries to prospects and eventually, customers. In B2B, Sales Funnel management with CRM can increase sales without increasing spend and lead scoring with lead nurturing can focus effort on the most important leads.
Beyond the scaling of ‘volume’ activities, artificial intelligence (AI), robotics and machine learning further reduce and automate simple tasks. This frees up marketing to focus on higher value, results-driven outcomes and maybe influencing a customer-centric marketing strategy with personalised journeys.
7. Increase shared services
For many head office or admin functions, the possibility of outsourcing is very real. Sometimes, this can be a business leveraging wage arbitrage by moving roles to a lower-cost jurisdiction. Often, a business may seek to place new or volume work with a specialist agency with the scale to lower costs e.g. a large telemarketing agency. B2B organisations often establish offshore demand centres to handle high volumes of requests for marketing materials, campaigns or landing pages. In summary, these can be processed at a lower cost per hour than recruiting marketing executives.
8. Renegotiate marketing services
Finance and procurement professionals often spend time renegotiating contracts or running tenders when contracts expire (e.g. annually). A long-serving supplier may have failed to make internal efficiencies and deploy automations, meaning higher costs than new or digitally-savvy entrants. A supplier may be paid a flat rate for services that you no longer use or have increased prices. Therefore, armed with that information, a renegotiation or invitation to tender allows an opportunity to right-size service and cost.
How can I get help to transform my marketing?
Think Beyond are a marketing consultancy offering a range of services from marketing plans and audits to marketing agency assurance. We believe that marketing is a science, not an art. We recognise the importance of marketing transformation to ensure lean and effective marketing, which is a great start to a relationship with finance.
A Chartered Marketer or Marketing Director on your board can increase revenue by an average of 8%. Furthermore, they can help you deliver marketing transformation through efficiencies and automation.
Contact the Think Beyond marketers today
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