MANAGING in the

NEW WORLD

Among all industries that have faced some sort of disruption, few have had it worse than organized retail. 125- year old once- giant Sears has filed for bankruptcy. Several stores of other top players such as Kohl’s, J.C. Penney, Macy’s, Barnes & Noble, Kmart and Toys R Us keep shutting down on regular basis. Even those, somewhat stemming this tide are the ones that are playing on competitive pricing, such as- Marshalls or T.J. Maxx. This has also led to a decline in fortunes for the large consumer brands that sold majority of their products from such stores. Proctor & Gamble is one such prominent sufferer, with several of its brands such as Tide, Pampers and Gillette facing a downturn in sales. Business intelligence provided by Consultancy Catalina has also affirmed that 90% of the top 100 brands had all lost market share. A lot of this can be attributed to the rise in online shopping. For retailers, digital marketing is now a highly attractive proposition, as evidenced by Harry’s huge Instagram following. It also gives them massive reach as opposed to the retail store which can only reach out to its particular neighbourhood. In order to remain relevant, the traditional giants’ scale must be combined with the fleet- footedness of the new comers. A perfect example of this may be cited on how Xiaomi incubated about 55 startups.

Source:https://hbr.org/2018/12/what-big-consumer-brands-can-do-to-compete-in-a-digital-economy

Uploaded Date:29 December 2018

A few trends have been identified which will be hot in 2019 for the field of digital marketing. The first of them will be the deployment in greater numbers of snack ads. While video has been ruling the roost for a while now over written content, it has also been realized that excess of video is also affecting the already low spans of attention, and the related purchase interest. These snack ads as the name suggests, are those filling enough to garner attention, but not too long to defer the main course. Another trend will be the rise of video searches, which experts say could take up about a third of total search quantum this year. Another will be the use of Augmented Reality (AR) as IKEA is already doing, plus also some Virtual Reality (VR). The concept of micro- moments will also see a rise in importance. On average, users these days are spending about two to three hours per day on their mobile phones. During this period, they are also absorbing enormous amounts of content. Brands will have to position themselves in a way during this journey to pose relevance to the user. The convincing will have to be done in a mere few seconds’ window.

Source:https://www.josic.com/4-digital-marketing-trends-we-will-see-in-2019/

Uploaded Date:03 December 2018

A study was conducted recently by Facebook to understand the key friction points in the online purchase process. This was done in collaboration with the Boston Consulting Group, which is a leading management consulting firm. Customers nowadays pay a lot of focus on the ease of transacting. Shockingly, the report compiled by BCG showed that there was an overall loss of US$ 325 billion in the APAC region alone due to friction in the buying process. There ware awareness and information gaps in the process, plus the requirement towards tech optimization. Most of these gaps exist at the discovery phase alone. Facebook has thus published a new report titled Zero Friction Solutions pointing out the solutions to the above mentioned problems.

Source:https://www.socialmediatoday.com/news/facebook-releases-new-report-on-customer-friction-points-and-how-to-resolv/542733/

Uploaded Date:27 November 2018

Post the Great Recession, there was much talk about the irrelevance and shrinking place for retailers. While those worst of days have been put behind, the situation isn’t too much better now either with giants such as JC Penney and Sears struggling. But amidst all this gloom, Target and American Eagle Outfitters have both reported growth and increased traffic. Part of the reason is digital marketing practiced by the data-driven companies. They now have hordes of data available which they use scientifically for eliciting insights about customers. Target has such a fine marketing policy and high budget, that the company has become a beacon for talent recruitment of such marketing professionals. Macy’s is also in the process of restructuring. Amazon needs to work on its in-store data, an area where Wal-Mart has already excelled in. A report submitted by PwC confirms that social media is now the top online source for consumers’ purchase decision-making. This activity is now increasingly being carried out over the mobile phone, with numbers having doubled in the past few years. While the omnichannel customer experience will rise in need, equally there will be a demand for improved execution.

Source:https://adexchanger.com/data-driven-thinking/retailer-survival-and-the-role-of-digital-marketing/

Uploaded Date:23 November 2018

One of the greatest challenges for digital marketers is gauging which marketing campaigns on what platform were more successful. The metrics provided by Google Analytics or Facebook ads paint only half the story. Now with buyer journeys getting more complex, and with increasing investment in digital marketing, Facebook in particular has tried to bridge this gap through its attribution deep dive. Marketers have longed for attribution data from the beginning, since it is challenging to understand which part of the investment really paid off. It involves two components- the customer journey map and the applied model. Attribution is no longer linear but involves a complex interaction of touch points. Facebook now allows data warehousing from only a limited few platforms, as those allow for preconfigured connections. These are App Nexus, Bing Ads, Flash talking, Google Ads, Google Campaign Manager, Google Search Ads 360, Sizmek and Jampp. This new model will allow Facebook to capture a lot of the visits and subsequent conversions that Google sits on top of. The biggest challenge for Facebook though is that data sources are finite. The model application too will take time and employees will need specific training to take on this model.

Source:https://marketingland.com/facebook-attribution-deep-dive-democratizing-attribution-for-digital-marketers-251634

Uploaded Date:17 November 2018

There are several ways in which the ad industry has been altered by the presence of digital marketing as a game changer. Communication is now expected to be instant. A greater level of transparency is now expected of the brands. Due to the enormous quantities of data warehousing now taking place, no marketer can complain about the lack of business insights. The role of micro-influencers has expanded. No brand can now remain on top forever. As a result of the constant churn, brands are forever playing catch up. All this has forced marketers to device more innovative methods to breach the market. Brands can no longer remain remote, but are indeed more human-centric.

Source:https://www.mediaupdate.co.za/marketing/145822/seven-ways-digital-marketing-has-changed-the-ad-industry

Uploaded Date:12 November 2018

The gap between traditional and digital customers has narrowed down. Legacy companies are also engaged in digital marketing while digital natives have realized the benefits of the brick-and-mortar format. Since this is now such a crowded place, some rules have been delineated for winning the game of automated marketing. First of all, marketing needs to optimize to achieve growth and not efficiency. The right customers need to be identified and then all steps taken to bring them into the fold. Long-term performance metrics are being tracked for this. An example of this is CLV (Customer Lifetime Value). Meaningful relations need to be forged with customers so that personalized content can be provided and repeat customers in tow. The creative components need to be creatively designed so that customers may be advised accordingly. Finally, marketers need to understand that in the present age, no campaign can ever succeed without a mobile-first strategy.

Source:https://www.forbes.com/sites/briansolis/2018/11/08/marketing-in-the-age-of-machine-learning/#16e8eeb35f27

Uploaded Date:10 November 2018

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