In an ideal world, marketers would have limitless budgets to invest in experimental initiatives and new programs. After all, customer to buy back the product and keep The landscape is growing faster than ever. The challenge, however, is that marketing budgets are often limited around what is proven to work – tend to vary across companies.
That is why access to industry data is so important. By knowing where we stand compared to our peers and competitors, we are in a better position to explore areas of opportunity. And, due to overall marketing spending is expected increase 14% by 2021You definitely want to know what your competitors are doing.
In this post, we will discuss the data-backed areas marketers are focusing on investing in by 2021.
In which areas the marketing leaders are investing in this year
HubSpot Survey of Executive Marketing Leadership Asked the following question to respondents: “What marketing area would you like your team to invest more in by 2021?” Most respondents said they would like to spend more time on growth marketing.
In the letter, growth marketing describes the tests and resulting processes businesses used to build and retain customer bases over time. This may involve running A / B testing to ensure that all your marketing efforts come directly from data that clearly explains your best practices for conversions and retention. customer feet. It is closely related to conversion rate optimizationwhere you are updating your content to increase conversions.
Growth marketing can also involve the use of unique content and design elements to connect brands with your audience to keep you adaptable, consistent, and recognizable to your target market. mine.
Featured resources: Data driven approach to growth marketing
React at speed
63% Marketing leaders say the coronavirus pandemic has affected their team’s productivity and responsiveness, and 11% say reacting to the global environment is a barrier to productivity.
As a result, marketers report that they will invest more time by 2021 to be able to adapt and react quickly. Not only to the changes in their industry but also to the global challenges that have proven to be more severe in today’s pandemic.
Marketers say the main issues for being responsive are developing unique, innovative content at a rapid rate, and adapting quickly to trends.
They say they will fight this issue by reviewing their current content and coming up with an action plan for future corrections, interviewing the audience about their struggles, restructuring. group and simply be willing to make changes when there is a problem, even at the time of notification.
Invest in Marketing Technology
60% marketers said they will increase spending on marketing technology over the next 12 months. Investing in marketing technology is directly related to the quick response and growth marketing trends above, as it will help marketers retain and delight their audience and react quickly when necessary.
As a refresher, marketing technology, commonly known as martech, is a term used to describe the software and technology used to attract and retain customers. As of 2020, yes 8,000 various martech tools to choose from, from data analytics platforms to CRM, to internal team collaboration tools.
Regardless of the tools they use, martech technology husband helps marketers streamline their processes and take a systematic approach to their day-to-day operations. And, as remote work becomes more prevalent, access to these technologies makes it easier for teams to work together, regardless of physical location.
Featured resources: How to update information about emerging technologies
Continue to invest in diversified marketing
In early 2020, many businesses had to take into account, as increased interest in social equity issues was at the forefront of conversations during the first few months of the year.
Consumers are now more concerned than ever with the views of businesses on community issues that require change and the perception from brands of diversity, equity and inclusion. One of the ways they’d like to see this show up in businesses is diversity marketing.
It’s an effective practice that marketers must commit to, especially considering that people are more likely to review a product after seeing an ad they consider to be diverse or inclusive. include, and sixty four% actually take action after seeing an advertisement they deem diverse and inclusive.
As a result, marketers will make continuous and improved efforts to focus on diversified marketing by 2021 and to become representative of the communities they serve to drive revenue and keep their business. they evolve.
In a similar way, however, it is more important for businesses to be honest about the variety of measures they take. Consumers can see through the undercoat and a recent survey found that 59% Consumers think that companies need to track their claims of diversity by taking action, otherwise they risk being perceived as exploiters and opportunists. Read this lesson to see examples of businesses that represent inclusive marketing practices.
Personalized Is how you interact with your audience and customers in a way that feels personalized, when you use your buyer’s data and personality to create content that matches their interests and interests.
When 80% consumers are more likely to make a purchase when brands offer a personalized experience, marketers love to practice; 96% of them say it helps to foster customer relationships. With this, Think with Google personalized naming as an area of focus for marketers by 2021.
How can marketers prepare? By leveraging other trends on this list – invest in marketing technologies that help personalize you, like powerful data analytics platforms to learn about customer preferences and follow-up services Email display helps you personalize the message you share with your customers. Also, focus on and commit Diverse marketing also make sure that your audience is interacting with material that they may be relevant to and relevant to their interests.
Join other market leaders in capitalizing on these trends.
While not an exhaustive list, marketers are focusing and investing in the above mentioned trends for 2021. Understand how each trend will affect your business like. and join other marketers in these investments.
To learn more about marketing in 2021, read on this lesson to hear live from marketing experts about trends they expect to see throughout the year.