There is no doubt that digital is one of the main channels of choice when it comes to epidemics. A.D. The 2020 Global COVID-19 Digital Emotion Survey shows that 71% of McKinsey’s primary and secondary users plan to continue using the same or more digital channels after the outbreak. A quarter of respondents said they would increase long-term use of digital channels.
In ASEAN, McKinsey found that during and after the COVID-19 pandemic, many consumers made part of their purchases online. In Indonesia, for example, up to 60% of consumers report an increased risk of post-epidemic online spending. According to McKinsey, digital marketing has the potential to help companies generate 5 to 8% revenue growth in 12 to 18 months by gaining more online traffic and engaging more effectively with multiple consumers.
As digital marketing trends continue to decline, brands must continue to strengthen their digital marketing strategies. Here are five ways brands can do this, according to McKinsey.
1. Double down on performance marketing
It is important to streamline the customer experience, especially in low-food interventions, and to have a customer service response team that responds within an hour. It is also important that brands focus on the most valuable customer metrics in performance marketing. According to McKinsey, companies often enjoy a measure of vanity, such as noise or traffic, or even invest in the market to “buy” customers.
High-performance people often identify the ‘star rating’ for success in their business.
Mackensey cited Indonesia’s Telecon as an example, recognizing that the daily number of reports of new customers is a key factor in the success of his new business. Emphasizing on that scale, Teleco gave priority to the client-referral program. Within a month, his referrals were over 20% of all new daily subscribers. According to McKinsey, by identifying success on this scale, Teleco was able to “significantly reduce the average cost per customer” and hit a 12-month customer target in seven months.
2. Move “practically” to a modern martial arts stack
Three essential skills are required in modern martial arts stack and data management.
A) Campaign Performance – Own and personalize campaigns and communications on proprietary and paid media channels.
B) Audience Management – Class customers based on offline data and online information, and share this division to different marketing channels. When offline data is defined as a digital asset feature, offline data is defined as customer relationship management.
C) Data Analysis and Performance: Gather and record customer behavior for audience-creation and campaign performance monitoring and provide a platform for analysis.
This also brings the importance of CDP to the customer’s stack. McKinsey explained that the CDP is more than just a data collector. In fact, it also categorizes clients into categories and provides results that are easily integrated and visualized.
3. An efficient operating model for marketing and technology teams
For the success of the digital marketing strategy, marketing and technology teams must work hand in hand to facilitate customer travel. McKinsey said leaders need to put digital marketing on the CEO’s agenda in order to get the necessary executive purchases and make progress. They also need to establish transparency in the ROI of existing marketing activities and stop efforts that fall below a certain ROI threshold.
He said one of the best ways to achieve this is to tap into existing high-performance talent to establish two to three effective marketing and technology teams to target key performance levels. These individuals should have experience in development marketing, SEO, UX design, HTML development, feature analytics, copywriting and extensive campaign management. They must collaborate to define, prioritize, and implement research, production, marketing, data, and technology backwards.
4. Balancing cost allocation between channels
Companies are still struggling with online and offline spending allocations. To address this, McKinsey said cost allocation should take place at the individual micromarket level and be guided by micromarket characteristics. Companies need to consider how much to spend on each sub-channel.
According to McKinsey, organizations often discriminate against “last-click wins” in digital ROI evaluation, resulting in “excessive focus” on some channels. A multi-stage profile is an unused approach that can be useful for brands as it focuses on the entire customer journey to understand the impact and ROI for each channel.
5. Ensure responsible first party information handling
The coming third-party cookies and new privacy rules have forced companies to be the first to hold responsible third-party information. Privacy issues are an important part of the trust between the customer and the brand. Therefore, companies need to consider how third-party information is evaluated when maintaining customer trust and privacy. Companies should also be proactive when making changes and make it clear that they take data privacy seriously. It is important to be clear about how information is used and staff training as well as measures to prevent data theft.
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