With the digital ecosystem being the center of most marketing efforts, CMOs cannot afford to neglect their digital strategy, even if the pandemic recedes in the near future.
The digital ecosystem system has gained traction in recent years, especially in 2020 and 2021 of years. With COVID completely shutting down in-person interactions, brands have no choice but to aggressively pursue digital platforms to meet their goals. Additionally, brands have been heavily investing in marketing technology. As per a report from martech alliance, titled, “The Martech Report 2021/22”, over 60 % of the respondents expect their martech budgets to increase in the next 12 months.
While this finding may provide a sign of relief to CMOs who have been juggling multiple tasks while operating on stringent budgets, it is still not the solution.
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For CMOs to get big bucks from their marketing efforts, they need to devise and implement a comprehensive marketing digital marketing strategy. If not, they are more likely to fall behind their competitors, who are constantly evaluating their marketing strategy while simultaneously advancing it to meet the changing needs of the customers.
Here are a few reasons why CMOs should not neglect their digital, no matter how perfectly it is doing at the moment:
- It’s all digital environment
The digital ecosystem has enabled brands to reach their target audiences that demand a constant flow of information along with instant gratification. If the brand’s presence is only limited to their website, it is less likely they will be found, making the brand irrelevant. At the same time, adding a few social media channels for its sake will not provide any additional benefits.
Brands should build a coherent digital strategy over time, which layers on the media that their target audience is utilizing. While adding new channels, brands should not neglect the ones already in play if they are driving exception results.
With too much content already pumped on the internet, brands should strive to create quality content relevant to their industry and to their customers. They should routinely audit how their content is performing across multiple channels to optimize their performance.
Not having a relevant digital marketing strategy in place leads to an error. However, neglecting it after building one is also ignorant.
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2) It helped brands to survive during the COVID
For businesses to continuously thrive in a digital ecosystem, they need to devise and execute a digital strategy. They needed to pivot online sales as well as figure out how to deliver orders, whether through curbside pickup or shipping them to customers. With online the safest bet, brands witness an explosion in their digital strategy.
While there’s no doubt that online sales were spurred due to the COVID-19, it is safe to assume that it is here to stay. Customers have also become accustomed to the convenience of online shopping.
For brands of all sizes to thrive in an uncertain market, they need to constantly evolve their pandemic digital marketing strategies. With customers’ preferences for online activities continuing to rise, brands will need to find ways to accelerate their digital presence.
Brands will need to keep their brand on the cutting edge of digital by creating strategies that keep them relevant. They should adopt successful strategies used by others in the industry to keep them relevant. Additionally, brands should monitor the reviews and input of their customers to adjust to their needs and wants.
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