Why Marketing Assessments Are Critical to Launching a Personalized Continuous Revenue Marketing Strategy
Where are you with your personalized Continuous Revenue Marketing strategy? If you’re not sure, you’re far from alone.
Marketing organizations on both the client side and agency side have a mixture of talent, processes and platforms ready to apply to relevant marketing. The industry has been on a journey toward more personalized marketing for over 15 years. However, to advance your brand’s implementation of personalized marketing to the next level, you need to understand where you are on the journey, including your gaps and your strengths.
Marketers need to take inventory of a few critical factors in order to launch Continuous Revenue Marketing strategies that will propel them to greater success. Here’s how to go about a self-assessment:
Step 1: Settle up your data needs.
The future of marketing in a cookieless world is still a bit of a question mark, but the time has definitely come for finding a sustainable method to capture, control, enrich, segment, interpret and optimize more first-party data than third-party data. Without robust first-party data, we are missing the feeder roots of personalization.
Step 2: Identify quick wins.
Like anything in marketing, quick wins will vary from one organization to the next. Time is the enemy of the great, so it’s critical as part of your assessment to know where you can make a market right now or next quarter. Perhaps your quick win is gaining insights from customer data to add greater precision to your targeting efforts to reduce ad spend and avoid waste. Maybe it is a new proof-of-concept pilot to determine the feasibility of a direct-to-consumer marketing move. Whatever the win, making sure it delivers results ASAP ensures that you will live to fight another day. Marketing leadership is a marathon, not a sprint.
Step 3: Assemble buyer personas.
Buyer personas allow for the segmentation of customers into groups that allow for more efficient and effective targeting. Begin with existing customer data and supplement it with behavioral insights from social media, third-party data and mass-media consumption trends, as well as search, platform and proprietary research. Like a good hockey player, you want to know where your consumer will be and skate there before they do.
Step 4: Build pilot programs.
As part of your quick-win strategy, you should focus on how to build a holistic pilot program. Shape pilots around customer personas to test assumptions and learn where improvements are necessary. If you don’t know where someone is along the path to purchase, it’s nearly impossible to personalize messaging to move them further down the funnel.
Step 5: Optimize current communication.
Chances are good that you’re already reaching buyers all along the customer journey. But do you know consumer sentiments about the overall experience with your brand? Are you touching the heart and head of your consumer? Are any touchpoints beleaguered by friction? Are you communicating in homogenous ways that don’t resonate with your prospects? Understanding the experience gives you a better idea of which touchpoints are in desperate need of greater personalization to optimize the communications.
Step 6: Ensure relevance and consistency.
Relevance and consistency are nothing new to marketing. It’s our bread and butter, after all. But over the course of any given customer journey, messaging can start to stray. This is especially true when multiple marketing teams work independently from one another. Journey mapping can add deeper insights and highlight opportunities to improve personalization, ensuring relevance and consistency in your marketing. With a solid journey map, you have a direction for improvement and future assets.
Next Steps to Greater Personalization
Even after evaluating your current strategies, you can’t just move to world-class personalized continuous revenue marketing overnight. You’ll want to revisit your data to determine exactly what can be done to encourage behavioral changes in consumers. Is your data in a silo or cohort that might allow you to deliver more personalized messaging? Is there a pain point or untapped need you’ve yet to explore that can add greater relevancy to your communications? Anything you can do to move the needle in the right direction is a step, well, in the right direction.
From this first step, take your assessment to a higher level by establishing whether you’re working with any process inefficiencies: Where are you using manual methods to produce hundreds (if not thousands) of outputs? Do you have the data to understand how much that’s costing you?
If your process is manual, it’s definitely too much time and too much money, so you need a pilot in addition to your customer-focused efforts to establish whether automation would cut costs and increase speed to market. If you’re unable to get either of those two right, your journey to personalized continuous revenue marketing is being implemented with significant competitive disadvantages. It’s as simple as that.
Rely on the Experts in the Space
As with any important journey, it’s important to have a guide who’s been there and knows how to help you get to your destination. You can download our blueprint for personalized continuous revenue marketing right from our website. It will help to guide you on the path to identifying gaps in your strategy and show you the tools, concepts and principles to create a bridge—and at scale—to greater personalization in your customer communications.
It’s also important to understand exactly where you’re at on your brand’s journey toward personalized marketing, as transforming any marketing strategy is complex. To assess your capabilities across the three dimensions of Customer, Context and Content, you can this take this Marketing IQ Self-Assessment.
If you’d like to learn more about what we can do to get you a personalized Continuous Revenue Marketing strategy, please let us know. A member of our team would be more than happy to find a solution that’s right for your business.