Archive | May, 2016

Marketing Automation: What You Need to Know

2 May

"Marketing automation" is more than just a buzzword – it is a very real practice that is empowering marketers around the world to accomplish more than ever in a shorter amount of time. At its core, marketing automation is a term used to describe a set of software, technologies, and other platforms that automate marketing on certain channels. These can include e-mail, social media, websites, and more. The idea is that by automating certain repetitive tasks that, while hugely important are also time-consuming, you unlock a host of additional benefits that can’t be ignored.

Reaching Customers on a Deeper Level

Targeted marketing has always been the bread and butter of many businesses in terms of increasing customer engagement. People don’t want to feel like they’re just one of a million different people being marketed to simultaneously – they want to feel like your business is taking time out of its busy day to speak to them directly. This helps increase the effectiveness of your marketing materials and is also a great way to take an average customer and turn them into a loyal brand advocate at the same time.

The issue here is that this historically takes a lot of time – or at least, it used to. Marketing automation is one of the best tools that you currently have to reach your unique customers in a meaningful way. Previously, you would have to manually segment customers based on things like your buyer personas. You would have to spend time creating these niche groups of customers based on their personalities, their needs, their likes and dislikes and more. While effective, this takes a great deal of time.

With marketing automation, however, you can simply create restrictions that will allow your software resources to segment these customers automatically based on whatever criteria you want. You get the exact same beneficial end result, but you only had to spend a fraction of the time in order to get there.

What Marketing Automation Is NOT

When people hear the term "automation," they often call to mind images of technological solutions or other IT developments that are designed to completely replace the jobs of human employees. While that may be true in an environment like a factory floor, this couldn’t be farther from reality in terms of marketing.

Marketing automation is not designed to be a replacement for your marketing team or the hard work they’re doing – it’s designed to be supplemental to the existing experience. Automation isn’t an excuse to hire one less employee, but to free up that employee’s valuable time to put to better use elsewhere within your organization. Maybe Thomas shouldn’t be spending so much of his day writing and sending out new tweets or Facebook updates every time you publish a new piece of content – maybe that should happen instantly so that Thomas can work on something a bit more important to your larger business objectives.

These are just a few of the major advantages that marketing automation is bringing to the table in terms of what the industry looks like today. By automating certain basic marketing functions, it’s enabling your employees to do better work in a more fundamental way. It gives them the ability to work "smarter, not harder," so to speak.

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MPM as a Marketing Tool: What is it?

2 May

Simply put, marketing performance measurement and management, or MPM, is a means of monitoring and adjusting marketing campaigns on the fly. Any good marketing campaign is a fluid campaign, accommodating changes and adjustments as they become needed. Large corporations spend thousands of dollars on gaining a command of MPM, but that doesn’t mean that small businesses cannot benefit from trying to master the same tools.

MPM is a way of systematically managing and coordinating your marketing assets for the improvement of the overall strategic marketing of your products or services.

Really, MPM is more like a fine-tuning mechanism that allows you to tailor your best marketing assets to do their best work for you and informs you of those marketing channels that are not performing as you had hoped or planned.

MPM is About Timing and Comparison

Timing has to do with when you release specific marketing channels. If you released them all around the same time, you would never be able to evaluate which ones were the most productive for you. Staggering their release provides the necessary criteria for effective evaluation of each one’s individual value to your marketing scheme. That way the channels can be compared for their effectiveness. A spike in sales can result from any marketing channel, but if they are all released at the same time, you cannot easily determine which ones are successful and which ones are not.

Once you can establish which channels are the most successful, you can emphasize those channels, modifying them accordingly to increase their effectiveness.

In the digital realm, the metrics tell the story. The analytics, that is, the collection of data, permit you the luxury of creating new strategies based on the success of earlier efforts. With this information, you can not only improve existing campaigns, but you can also more aptly tailor future ad campaigns. Fully strategic thinking involves planning ahead, and the analytics from MPM give you the information to do that more effectively.

There are five pillars to MPM. Each has its own value and must be addressed. The first is alignment. Align your marketing efforts to your desired results. Target those results and adjust your campaign according to the success of initial strategies.

Second is accountability. This is simply a statement of how well any specific marketing channel delivers the desired results based on the metrics you have before you.

Third is the analytics themselves. This is the data that drives your campaign and complements and improves it with its needed modifications.

Fourth are the alliances. You form these naturally in the process of marketing, but using them is an important part of successfully employing an MPM strategy. Use your network partners, such as content providers and the agencies that locate them, as well as other assets to emphasize your successful marketing channels.

Finally, there is the assessment. This is the natural outcome of the process, the data that is compared and contrasted for their relative benefits. The strengths and weaknesses can be evaluated in real time as each campaign develops, permitting adjustments and allowing growth in the campaign, itself.