Ever wish you could look over the shoulder of the world's most savvy digital marketers and find out exactly how they reach and motivate their most desirable buyers?
Well, now you can. Teradata and Econsultancy recently joined forces to interview more than 400 senior-level marketers, director or higher, at global enterprises and corporations with more than $500 million in revenue--and 56% had revenues of over $3 billion.
Marketers in a variety of sectors were interviewed, including consumer goods, consumer technology, retail, travel/hospitality and automotive to uncover their secrets about how to engage target audiences. The result: Your very own list of digital marketing pro-tips, along with the eBook Enterprise Priorities in Digital Marketing.
Use these tools, tactics and strategies to create winning digital marketing plans--just like a senior marketer at an enterprise organization.
Pro-Tip #1: Technology is your friend. Use it to reach your target audience, improve customer experience and manage data.
Marketing technology exists for a reason--and that reason is to help marketers like you make the most out of consumer data and information. So what technology are marketers at big companies using? Of all marketers surveyed, 29% said that a data management platform is their top priority when it comes to marketing technology. Another 43% of marketers surveyed said that a data management platform was a high priority. Only 4% said that a data management platform was a low priority.
Just behind a data management platform, 23% of marketers surveyed said that an audience management system was their top priority. Fifty percent said an audience management system was a high priority--and again, only 4% put this technology at a low priority.
Twenty-three percent of top-level marketers cited a marketing cloud or marketing application management system as a top priority, with 34% ranking it as a high priority. Other forms of technology used include a content management system, conversion optimization platform and systems to manage social media and email.
What do these numbers tell us? As marketers, it's a no-brainer that you need to have technology that helps you manage your data, audience, marketing efforts and content. If you don't already use marketing technology, or don't use the technology that top marketers are citing as helpful, it's high time to jump on board.
Not sure where to get started or what to look for in your marketing software? When investing in new technology, top-level marketers look for something that can be fully integrated with their existing software, is private and secure, allows for development of new features to meet future needs and can be used without heavy reliance on an IT department.
Pro-Tip #2: Personalization is everything.
It seems obvious that being personal in your marketing efforts yields good results, but it's amazing how far accurate and timely personalization can take you. A combined 37% of the organizations surveyed cited personalization as either their top or highest priority.
While personalization can mean different things for different companies and cover many channels and opportunities, it all boils down to knowing your customers and giving them what they want when they want it. What personalization tactics are senior level marketers using?
Fifty-one percent of those surveyed as using customer lifecycle personalization methods to connect with customers. This includes everything from knowing their purchase process phases to reaching new customers and retaining existing customers. Another 45% are using basic personalization tactics like customizing emails to include the customer's name, while 39% are using segment-level personalization practices like reaching out to frequent customers. Thirty-three percent use backward-looking techniques and use past purchase history and customer behavior, like page visits, to make more accurate suggestions in the future and present.
In upcoming years, it's predicted that segment-level and real-time personalization will see tremendous growth. Only 19% of marketers surveyed are using real-time personalization now, but offering dynamic and useful content at crucial buying moments can change everything about customer personalization.
Pro-Tip #3: Be Budget-Savvy
Even senior level marketers at global enterprises with $3 billion in revenue have to know how to budget wisely. When it comes to building your marketing budget and figuring out how to allocate dollars, it's tempting to look to tradition to inform your decisions, but that may not always be the best choice.
Your marketing budget needs to keep up with market trends--not with tradition or antiquated budget practices. When trying out new marketing strategies, it's important to give that strategy and channel the money it needs to thrive. Under-funded marketing initiatives likely won't be successful--or won't be as successful as they would've been with adequate support.
How much are big corporations spending on digital marketing? They're spending nearly 2.5% of their revenue on digital marketing and 69% of marketers are increasing their digital marketing spend (with an average budgetary increase of 14%). In 2014, nearly 75% of marketing budgets were allocated towards traditional channels, with 25% leftover for digital channels. But the times are changing. By 2019, it's predicted that corporations will spend nearly 40% of their budgets on digital spending, with 60% leftover for traditional channels.
Being budget-savvy now, paying attention to marketing changes and keeping up with those trends plays a big role in the future and long-term success of your organization.
With these 3 pro-tips, you can better understand how global and enterprise organizations are reaching their customers--so you can do just the same. These pro-tips are doable for organizations of any size, as long as you have the right tools, people and mindset. Learn more about the facts and figures in this article, and discover more about what makes senior marketers so successful by downloading the full ebook, Enterprise Priorities in Digital Marketing.