Marketers are sharpening their focus in 2014. They are building smarter, more effective strategies and teams that will drive the best possible results driven by the need to show that marketing can drive business objectives. According to a study from Conversant personalization is driving marketing, but is that true for all products?
According to the study in the coming year, the industry can expect to see four key shifts as marketers focus on the following:
1ne: More dollars spent on fewer but proven ROI- positive channels and vehicles.
2wo: Emphasis on understanding and implementing personalized marketing programs
3hree: Vendor consolidation as marketers seek the right strategic partners.
4our: Reevaluating approaches to accurate measurement to ensure marketers are allocating resources effectively.
The marketers surveyed believe that personalized marketing offers a variety of positive benefits, many of which are key KPIs for their roles.
Key among those benefits are increased sales and stronger brand perceptions. But the research also reveals that 47% of marketers believe their teams lack the expertise needed to develop and deliver personalized marketing programs.
Avoid chasing the “shiny object” and focus on building on what works. As more and more companies demand greater ROI from their marketing leaders, we expect to see more dollars spent on proven tactics. While new platforms and technologies can be exciting, their ability to drive results is usually unknown, and marketers are showing increased caution when it comes to how they allocate their budgets. In other words, stop drinking the social media Kool-Aid.
Personalization is a must but not for all product categories. It’s time to better understand how to drive consumers to become customers and that may, or may not, involve personalized online ads.
Don’t fall into the trap of thinking that all your ads need to be personalized because they don’t. Work with your agency and market research to better understand driving factors that lead to conversion.