The marketing-tech landscape in today’s world looks far more complicated than it ever did in the past. Vendors are contending for business opportunities across all layers of the platform stack, from marketing automation to advertising, analytics, content management, lead generation, CRM and much more. The integration of these tools are key to driving improved and cohesive customer experience and business growth.
The challenge of driving greater marketing ROI and sizing up marketing impact has never been easy. Countless platforms for news and entertainment emerging regularly have only increased this challenge. This prevents marketers from having a consistent view of the customer when they want to optimize their marketing mix and grow their business.
There was no simple solution to the obvious problem, until recently. Marketers can track and receive reports on sales and click-rates on every sales platform but it is a daunting task to maintain control or visibility over every customer interaction. Old-school methods of quantifying marketing performance are limiting marketing ROI, which can be improved with a more unified system of measurement that encompasses the entire customer journey. Marketers often fail to recognize some hidden gems that would assist in leveraging customer touchpoints and interaction channels.
Link Price Promotion to Incremental Sales
The siloed approach of offering discounted prices to drive greater sales does not guarantee lasting customer engagement. Overuse of promotions would turn loyal customers dormant, who become active buyers only during sale periods. Isolated sales hikes just during promotional periods erode profitability and hurt a business’ overall revenue.
Link E-Mail Marketing to Overall Sales
E-mail marketing managers who blast out additional emails to boost online sales concentrate solely on driving incremental sales on the e-commerce platforms. This is how they would often fail to notice their offline sales and overlook the impact of email on sales in their brick-and-mortar stores. Focusing on the immediate online sales without a consistent view of the consumer can cost a company much more than what it generates. The additional email deluge also results in a declining open rate of the emails.
Adopting a mindset to understand the customer journey would help marketers reach out with actionable and relevant content across all channels if they want to drive customer engagement and improve customer retention. Personalized customer engagement is a must for businesses desiring to compete across every market.