When businesses set out to launch a viral marketing campaign or kick off a new advertising strategy, they typically devote a fair amount of time and energy toward making sure they’re as successful as possible. However, with online marketing changing so fast, it is not always easy to predict how your initiative will change after it commences.
According to Marketing Week, 2013 will likely match or surpass this year in terms of online marketing’s rapid evolution. Because of this, it is essential for companies about to launch a marketing campaign to examine some of the common ways these initiatives can fall short without proper planning and insight.
Lack of analytics
According to the source, targeting specific customers will become much more refined in 2013, which means the businesses that fail to adapt are at risk of losing step with their competitors. In the past, high-level analytics were expensive and typically confined to very broad and expensive campaigns. However, they are getting much simpler and less costly to utilize, so even small and medium-sized business can fold them into their strategies.
According to Experian research, less than one-fifth of businesses feel they are well set up in terms of single-customer analytics. However, with data becoming easier to come by and the importance of property metrics beyond dispute, this number is likely to rise in 2013.
Ignoring social media
Over the last few years, social media has gone from a place for individuals to connect to an essential venue for marketing. Businesses of all sizes regularly target these venues for all varieties of promotional activity. However, according to recent data from Zeno Group, not nearly as many companies are utilizing this powerful channel as should be.
According to the source, 36 percent of U.S. executives say the either never consider or rarely consider their company’s social media reputation when making essential business decisions. This is especially true for B2B companies, and it could be costing them valuable market share.
Like disregarding individual analytics, paying no heed to social media is a surefire way for companies to diminish the effects of their campaigns. By incorporating these two strategies into your company’s next marketing venture, you are likely to see a huge difference in terms of return on investment.
What ways have you found to maximize the impact of your promotions? Share your thoughts below!