Opportunities to grow business across the customer lifecycle
There is always a huge interest in digital marketing trends and innovation in marketing around the turn of each year. 2022 will be no different, in fact, it’s particularly true since the pandemic has forced downward pressure on marketing budgets meaning that marketers are looking for new cost-effective techniques. According to the 2021 Gartner State of marketing budget report, marketing budgets have fallen to their lowest recorded level, dropping to 6.4% of company revenue in 2021 from 11% in 2020.
You can see that these cuts are consistent across sector and we can anticipate these reductions across businesses of all sizes. Consumer brands, financial services companies and healthcare seem to have been less impacted by the pandemic as we would expect.
Digital media spend increases while agency spend decreases
The Gartner research shows CMOs have…
5 Reasons to consider a life as a T-Shaped Marketer
There has been much talk within digital marketing of the necessity for marketers to broaden their skill-sets and to embrace and learn the wide range of digital channels (40 in this count) to reach and engage with your audience.
The approach of developing a range of marketing skills is known as T-Shaped Marketing. T-Shaped Marketing refers to: a Marketer that has broad knowledge covering a wide range of digital tactics with in-depth knowledge in 1 or maybe 2 specific areas.
This diagram from Moz shows the principle with a focus on SEO within digital marketing tactics.
This diagram from Search Engine Watch also explains the principle, here with the focus on Content Marketing and also including a focus…
Evaluating technology options for innovation in marketing - do you know your Hype Cycles?
If you're involved in marketing strategy development, you will be constantly making judgments and doubtless reviewing with colleagues which digital technology innovations are most relevant to your organization. In this article, we compare different examples of the well-established Gartner Hype Cycle tools which serve to highlight the adoption of new technology services within marketing technology.
Gartner publishes many different hype cycles reviewing the adoption curves for different types of technologies, but as a digital strategist, I am most interested in those focusing on marketing technologies. A summary of the report with the infographic is published annually and I have been monitoring them and sharing them for over 10 years in this post. You can compare the newest to the latest at the end. The methodology is described later in the post.
Through the updates you can see how technology…
A flow chart to create a marketing technology stack tailored to your business needs
We talk about the importance of using the right digital marketing tools a lot here at Smart Insights. When used correctly, a marketing technology stack can save you time, boost productivity and lead to better marketing outcomes. But with so many martech tools available, it can be tricky to know which tools to use and why.
Smart Insights offers a wealth of practical, actionable tools, templates and training designed to create or develop your marketing strategy using data, customer insights, and best-practice.
Marketing technology is a huge topic in digital marketing right now, and it's no secret that the age of digital disruption has increased the number of opportunities and challenges for digital marketers in the field. That's where the RACE Framework can come in, helping you make sure all your martech and marketing activities are…
How to strategically manage your marketing spend in 2022 with 8 integrated marketing budget templates
Setting strategic and channel direction, working toward commercial objectives and KPIs and monitoring success is great, but if you're not tracking your ROI per channel it's hard to understand how much money you've had to spend to see a return. That's why you need a practical, accessible marketing budget.
How much budget is allocated to marketing?
According to the February CMO survey, marketing budgets were expected to grow 6.7% in 2020. However, the July edition found the real-term figures had shrunk in the wake of the pandemic and global recession, equating to a rise of 1.6% in marketing budgets overall over this year.
In a competitive environment for marketers, reporting and forecasting marketing spend is more important than ever. Meaning if you can't prove a tactic has been successful, it will be even more difficult…
Mapping the most effective AI technologies for marketing across the customer lifecycle in the coming year
AI technology is a hot topic in marketing at the moment, but AI is a broad term covering a wide range of different technologies. Artificial intelligence means any technology that seeks to mimic human intelligence, which covers a huge range of capabilities such as voice and image recognition, machine learning techniques and semantic search.
AI will continue to grow in 2022 and beyond. In fact, the global AI revenue forecast for static image recognition, classification, and tagging by 2025 is currently US $8,097. This figure is followed closely by the forecast for algorithmic trading strategy performance management, coming in at US $7,540.
Marketers like to wax lyrical about the latest exciting technologies and bang on about AI for image recognition, speech recognition, preventing data leaks, or even …
7 strategies, tactics and tips to stand out. Plan your first 100 days on the job, as a new starter, to make an impact in your marketing career
Starting a new job can be tough. In the first 100 days on the job, not only do you have to contend with the technical side of your role but also your new employer’s culture, politics, processes, and people.
Right now, the US is posting 1 million more job openings than there are people looking for work, and the UK sees a record high in job vacancies. With all these shifts in employment, it's likely many marketers will be starting a new role over the next few months, they're not alone.
In the US, a new president is often judged on how they perform within the first 100 days in office. Ever since Franklin D. Roosevelt…
Review how to integrate digital marketing into your marketing team's structure through Digital Transformation
The latest Smart Insights research study shows how common Digital Transformation projects or programme are today with 30% already having a programme up & running and 31% planning to within the next year.
Yet, digital transformation doesn’t occur overnight. There are a series of steps to go through to get there and the critical factor is the staff. Imagine a world where your Digital Working Party, Digital Group, or Digital Collective is in place, they’ve had several meetings and agreed on an action plan! What’s next? Let's take look at options and examples of how you structure your digital team. Also, crucially, what does this mean in terms of your marketing funnel?
We've got marketing tools and templates to support you in building a strong digital strategy, and structuring your marketing team to get the most…
Using capability maturity models to review digital readiness and set targets for digital transformation
We've been adding to our visual tools to help all members assess how well their businesses are adapting to using digital media and technology as part of Digital Transformation.
We have collected these visuals together in a single download so that you can easily review them and print the most relevant for you.
[si_guide_block id="55897" title="Free member download – Digital Marketing Benchmarking Template" description="Score your business on this simple five-point scale to identify techniques you can use to improve your digital marketing overall and for the core channels and techniques including SEO, social media, email marketing and conversion rate optimization."/]
We hope you find these visual tools inspire you to make improvements to your digital marketing - let us know if you have any comments or suggestions.
The RACE Framework and PASTA model are complementary models for your marketing communications plan, one is strategic and one is operational, get started today to win more customers
Commercial as well as non-profit organizations, routinely confront these typical questions: Do we need social media? How do we introduce our new website? What can we do to publicize our eCommerce Store? How do we introduce our new product? How will our market share rise? These are five commonly asked questions that require marketing and communications expertise. In this article, we will address 2 complementary models for your marketing communications plan - the RACE Framework and PASTA model.
Whether it be a strategic plan, a business plan, a marketing plan, or a communications strategy, marketing communication planning requires systematic, step-by-step development that takes into account elements of all the other types of plans.
This article describes the PASTA method, a new roadmap for solving operational…