4 Steps To Successful Digital Marketing
A Mckinsey primer on how companies can take advantage of digital marketing, where they start by asking companies to look at the buying system. While we all know the JWT defined buying system is a multi-stage process, Mckinsey feels that historically advertising tried to concentrate all their marketing resources at two ends. Brand marketing up front to woo consumers when they first consider products, and promotions at the final point of sale to sway them as they are about to make a purchase. Digital technology is changing all that. Consumers who used to seek out family and friends for word-of-mouth product recommendations now read online reviews, compare features and prices on web sites, and discuss options via social-networking sites. This information flow not only empowers consumers but also allows marketing departments to be part of the conversation consumers have as they actively learn about product categories and evaluate choices. In fact, according to the report, both business-to-consumer (B2C) and business-to-business (B2B) purchasers increasingly want marketers to help them make smart decisions. They just don’t want to feel subjected to the hard sell—they expect marketers to engage them, not dictate to them. To this end Mckinsey suggests a four-step approach. Orchestrate an integrated consumer experience. Inspire customers to help you stretch your marketing budget. Adopt a publisher’s discipline to curb costs. Use intelligence wisely to drive performance. Download the report here.