Marketers, managers, and digitally-savvy customers have all experienced first-hand the effects of Financial Services digital transformation over the last year.
Of course, challenges relating to digital transformation are not unique to the financial sector. As in many industries, COVID-19 was another resounding wake-up call for the financial industry in terms of digitalization.
In this blog, I will be making my Financial Services digital transformation recommendations, based on trends and innovation in the sector at present.
Even before the pandemic, Financial Services customers were already seeing rapid growth in digital services available online. The digital disruption caused by the events of 2020 only accelerated that.
Now, many industry studies are suggesting Financial Services digital transformation will have a lasting effect. So, it's up to Financial Services marketing leaders to ensure their business is reaching, interacting with, converting and engaging customers across all digital touchpoints in the customer lifecycle. This is demonstrated via our popular RACE…
Information technology management and marketing is fiercely evolving with tech startups and established businesses rapidly adapting their approaches to IT and IT marketing to add value for their customers
We've rounded up our top 7 recommended IT marketing skills and tools for you and your team to plan, manage, and optimize your marketing strategy. Structured across our popular RACE Framework, implement tactics and strategies to achieve your goals at each stage of the customer journey.
1. The RACE Framework
The top spot goes to the RACE Framework. In fact, all our IT marketing recommendations stem from this crucial practical digital strategy framework.
RACE empowers marketers and managers in the IT and high tech sectors to streamline their marketing planning to create an efficient and effective marketing strategy.
Our tried-and-tested marketing structure helps IT marketers track marketing optimization at each stage of the customer journey from reach to act to convert to engage. Apply the RACE…
Manufacturers are rapidly adapting their marketing strategies in the age of digital disruption. How do your digital marketing capabilities compare?
In this article, I will be reviewing the state of digital transformation in the manufacturing sector. I will give practical digital marketing recommendations for manufacturing companies at different stages of digital maturity. Plus, I'll be revisiting our popular 2021 digital marketing maturity benchmarking report to help you assess the effectiveness of your manufacturing marketing.
The manufacturing industry, including the marketing of manufacturing products, has typically been slow in its approach to digital transformation over the last 20 years. There are many reasons for this. McKinsey highlights 'external market factors, combined with fragmented and complex industry dynamics and an overall aversion to risk' in construction as barriers to change in this vital area.
However, the digital disruption caused…
Implement research-driven, customer-centric marketing to truly optimize your finance or bank marketing strategy and compete in a competitive digital landscape
A recent study of challenger bank marketing tactics caught my attention since it highlights the digital disruption in the financial services industry. What can businesses learn from this challenge in a situational analysis of their own environment, and how can marketers optimize their financial services marketing using this research?
If you're a marketer in the finance sector right now, you will have witnessed huge changes in the industry in the last 12 months alone, with more customers making financial decisions online leading to increased competition and challenges for financial services and banking industry marketers in both the macro and microenvironment.
Therefore, using research such as the challenger banks case study below can help you structure a winning marketing strategy. As we know, the first stage in a marketing plan is…
With the launch of our brand new Learning Paths - offering practical, strategic marketing courses online - discover which marketing training solutions have been the most popular
Deciding on a marketing course to optimize your strategy in 2021 is tough. With so many marketing training options, you need a solution that's practical, data-driven, and proven to generate results, quickly. Read on to discover our Smart Insights members' top Learning Paths and resources in each membership tier.
Top Business Professional marketing course: Manage change for digital transformation
Module from Digital Transformation Learning Path for Business Professional Members
Digital Transformation is the use of new, fast and frequently changing digital technology to solve problems. However, a Boston Consulting Group report found that only 33% of significant IT projects have been fully successful since the year 2000.
The danger is that the benefits of digital transformation are not being fully achieved as organizational barriers can hold…
Read up on our latest pharmaceutical marketing strategy recommendations to optimize your marketing plan and convert more customers over the next 12 months
Take stock heading into 2021 after what has been a challenging year for pharmaceutical marketers, healthcare, medical and high-science marketers, and all who work in the industry. The strategic evaluation and forecasting season that comes with year-end means many of you are scanning, benchmarking, and prioritizing to strengthen your pharmaceutical marketing strategies for the coming year.
When getting ready for 2021, before even looking at your strategy it's essential to revisit your planning framework. So, let's quickly take a whistlestop tour of why the RACE Framework is the key to setting up your pharmaceutical marketing strategy for success.
Using the RACE Framework to plan your pharmaceutical marketing strategy
The RACE Framework is a practical framework to help manage and improve results from your digital marketing. When planning your overall marketing strategies,…
What are the essential parts of a digital transformation plan?
A digital transformation plan is a strategic, long-term plan focusing on integrated digital media channels, implementation of new technologies, and smart, digital ways of working.
The purpose of a digital transformation plan is to define how to compete more effectively with digital marketing. The scope of a digital marketing plan is typically annual, but a digital transformation plan will typically be longer since this involves creating long-term digital roadmaps.
Digital or online marketing is any form of marketing that involves using online channels for goals of acquisition and retention. It also includes digital technology and the use of data to target audiences more precisely with personalized messages. Since creating awareness and achieving conversion still commonly involve offline channels such as a call-centre or in-store, digital marketing plans need to define integration between channels using techniques like customer journey mapping.
This means that…
Digital transformation strategy to grow your business: Our recommended planning frameworks to implement your successful digital transformation
More marketers than ever are fueling growth through digital transformation. But with the stakes so high, we want to make sure you get your digital transformation strategy right, first time. That's we're here to guide you through it.
Discover the success factors for creating a digital transformation strategy to grow your business, read-up on the implementation process for your digital transformation next steps, and explore our latest digital transformation research.
Why create a digital transformation strategy?
Our research shows that today many businesses are realizing the imperative for digital transformation; to compete in digital marketing data and technology, a structured process of digital transformation is needed.
The need for transformation is particularly strong in larger, international brands and organisations that…
The latest results from the CMO Survey, a special COVID-19 edition, give a fascinating insight into our fellow marketers' business strategy and planning to drive growth this year.
Digital Marketing Strategy during COVID-19
84% of marketers confirm they have ‘improvised to generate new marketing strategies during the pandemic’ according to the CMO Special Covid-19 report in June 2020. So what did they do? And what can we learn about managing business growth right now?
“The measure of intelligence is the ability to change”
- Albert Einstein
So, by Einstein’s prognosis, 2020 has been a very intelligent year for marketers. While for some of us, the changes have been less grand, others have witnessed a complete transformation in less than half a year. Naturally, there are fluctuations by industry, so for more detailed data about your industry, check out this special …
Three essential steps to kickstart Digital Transformation
Digital Transformation is a focus for many organizations right now and as you can see from the Google Trends search volumes, it's increasing in popularity recently. As with any change within an organization, there are many challenges (as shown in my previous post on Understanding Digital Transformation), so once you've identified digital advocates in the organization, it's time to map out the journey.
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In recent months, several companies have mentioned to me that their CEO is committed to digital, but they're having challenges at middle management levels, where it's harder to gain commitment. This can be easier if there is a clear plan shared with all. You can, as many do, call this your digital roadmap,…