Three Things Today’s CMO Should Know About Digital Marketing

Everyone knows about GoPro cameras – and yet very few people actually engage in activities that would justify purchasing a Hero camera. GoPro is an excellent example of a successful digital marketing strategy. You don’t need to look at the GoPro website to understand how this brand achieved recognition. All you need to know is that the brand is tagged in over 6,000 new user-generated videos uploaded to YouTube every day. GoPro’s success comes from its YouTube channel and its 3.2 million subscribers, and from the brand’s ability to leverage customer advocacy.

For a brand like GoPro, customer advocacy is the sign of a successful digital marketing campaign. There are other signs of success that brands should strive for, including a high customer satisfaction rate, an online footprint that continuously drives sales up and repeat sales.

The 3 things you should know as Chief Marketing Officer

So how can you, as the CMO, drive comparable marketing success for your company? There are three core things you need to understand in order to develop a successful digital marketing strategy. You need to know about the process customers go through before making a purchase, how you will deliver a good experience throughout this process and how you will measure results.

1. Understand the new customer journey

Ten years ago, people would typically walk into a store and buy a product after seeing an ad on TV or in a magazine. A salesperson might provide some advice to help a customer pick something from a fairly limited selection compared to what shoppers can now find online. The Internet has completely transformed the customer journey, and brands no longer only have to compete for a consumer’s hard-earned money – they also have to compete for attention.

This leads to what marketing professionals call ‘micro-moments’. The new customer journey is a succession of short interactions in which the consumer develops awareness for your brand and gradually learns more about your offer before making a decision.

2. Adapt to new digital marketing trends

There are two current digital marketing basics you should be living by – deliver value and develop content that can be consumed quickly. Give people a reason to engage with your brand by offering value and knowledge. Don’t push consumers to buy something as soon as they start interacting with your brand. Embrace the media mix approach, using a variety of platforms and formats to engage consumers.

3. Measure results

Analytics are the key to improving your digital marketing strategy. You need to use different measurement tools to determine which campaigns, platforms and pieces of content generated the micro-moments that eventually lead to a sale. Analytics will allow you to create a detailed model of the customer journey and determine marketing attribution, a.k.a. where your marketing dollars should be spent. Teamwork is also crucial to your success, since you will have different individuals or groups working on different pieces of content that are parts of a larger ensemble. You need to work as a team to deliver a consistent experience across your media mix and to develop a more efficient funnel.

Realistically speaking, a lot of businesses do not have the marketing attribution capabilities to create a winning combination of micro-moments, or they lack the technical know-how required to use measurement tools. Outsourcing this process to a digital marketing agency is an option you should consider. Take a look at this piece on how to choose a digital marketing agency before outsourcing.

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