The topic of sandwiches came up on our Yardie webinar held earlier this week with digital marketing heavy weights Julian Brewer, a Marketing Automation Specialist and former Global Head of Digital Marketing & Analytics at Schroders, and Yard’s very own MD, Richard Falconer.
The webinar was on Digital Marketing Performance in Financial and Professional Services, so you wouldn’t necessarily think the topic of sarnies would make the cut – unless it had been a face to face event then we probably would have had a great selection of them for our guests to enjoy – but this is how they did…
On the webinar, our MD, Richard Falconer, made an interesting analogy about a sandwich shop and how it aligns with a business’ marketing efforts:
There’s a sandwich shop. Two promotional staff are handing out money off vouchers. One is much more successful than the other. Why? Well, the successful one is handing out vouchers in the store to customers already planning to buy a sandwich at the shop. The vouchers are therefore supporting converted customers and not potential new footfall.
What does it mean for the company? It’s costing them money and not in a good way; vouchers are expensive to print, and the outcome isn’t going to help them grow their business. They need to be looking at the much bigger picture. The first rule of marketing, isn’t it?
Let me share with you my top 10 topline takeaways from our Yardie webinar.
My first five are from Richard’s overview on what marketeers can do to overcome the costly elephant in the room when trying to ‘prove’ success, and the later five are from Julian’s presentation on how marketing and sales teams are increasingly working together to form a combined digital sales force.
1. Marketing budgets need to be used more effectively
Richard rightly explains that when it comes to effective digital marketing efforts, honesty is the best policy. Whilst everyone wants to try their best to get results, briefs need to be interrogated so that all involved receive maximum exposure, results and long-term prosperity as a result of any campaign or site activity undertaken.
2. Your digital channels need to be selected to accurately reflect your strategy
Social media is something you need to do, isn’t it? Well, not if you want to reach new customers. Facebook Ads could lead you down the wrong path and whilst email marketing can be one of the most effective revenue driving channels, it won’t result in new customers. SEO or PPC are a better staring point. As EBusiness consultant, Dan Barker said: “If you sell multiple categories, and a competitor sells fewer, brand bidding on them is better for you than them. They can only serve a % of your market, while you can serve all of their market and those customers may buy your other categories.” But bidding needs proper testing.
3. Get to the heart of your KPIs
Pretending things are working just doesn’t cut it. Be honest, bold and a real consultant when advising colleagues or clients.
4. Smarty pants analytics
Analytical experts have skillsets many of us marketeers lack – they can see things we often don’t. Be guided by them.
5. Natural links all the way
Links back to your site are an effective way of boosting your Google ranking and truly immersing your brand amongst new and existing customers. Doing this naturally through targeted and thoughtful content is the key, not paying for them which can damage your ranking.
6. Customers really do know best
The ‘customer experience’ has been a buzz word for many years and what Julian explained to us is that a client’s movement or experience online really can offer us data at our fingertips. The days of capturing insights on the golf course are gone and what decision makers really want to know is how customers or clients are navigating a site; what are they clicking on, revisiting or purchasing and how long is it taking them to get there; what are your conversation rates and how can you improve a site’s navigation and insights to support your bottom line? Using CRM tools, as Julian explained, really can help make this journey analysis even easier.
7. Decision makers have digital at their heart
Digital marketers have never played such an important role. The rise of younger people into C-Suite roles has created the perfect digital storm. These decision makers fully appreciate the role data driven insights have to play and understand how the right action and supporting content can influence and manipulate results quickly. This can help companies to navigate the rise and fall of produces and anticipate trends.
8. Effective data capture is essential
Good insights depend on slick processes to help you untangle the data you have available so that you truly make sense of the digital landscape in front of you. Only then can you confidently relay useful and insightful data to salespeople, or those on the front line to navigate sales, content and outreach strategies.
9. Our future relationships need to be powered by intelligence
Content creators, planners and dashboards should support the wider reach of insights being gathered, whether it’s across teams in the UK or in different parts of the world. An accessible platform for all enables a unified approach so that everyone can speak the same data language.
10. It’s a team effort
Gathering insights is one thing. But you need to have the right people in place to navigate your data platforms and turn insights into real life solutions for effective customer engagement.
Fancy a chat about your digital marketing efforts? Feel free to drop me a line firstname.lastname@example.org