Digital marketing transformation has become a crucial thing to grow a digital business for every industry. All companies, be it large or small, are focusing on digitizing their internal and external processes to scale their business to new heights. To achieve this goal, they are opting for a digital transformation of their marketing activities.
According to a survey conducted by Forbes Insights, only 44% of companies see themselves as advanced or leaders in data and analytics. Whereas the vast majority of those surveyed, almost 91%, have already seen revenue increases due to digital transformation in their marketing.
What is Digital marketing transformation?
Digital marketing transformation activities would mean jumping from digital smugness to the active trailing of digital excellence through proper utilization and optimization of digital channels. Precisely, it refers to refining digital channels to gain deeper insights that improve the customer journey, as a customer is the prime concern of any business, as they, directly and indirectly, impact ROI.
ROI (Return on investment) is an essential aspect of the business. Keeping track of ROI is crucial for success with all your marketing activities. The benefit of tracking ROI is that the business managers can track what marketing strategies are working for them and what processes need revamping. Every marketer feels pressure to prove the effectiveness of their marketing expenses. ROI is a factor that determines the success or bombing of a business’s digital transformation strategy.
How can digital marketing transformation help?
It is a certitude in the business world that digital technologies are changing how customers communicate, shop, and guzzle products. In this ever-advancing world, businesses have numerous opportunities to make the processes coherent, engaging and improve the customer experience at a greater level. Companies can use various analytics and data-driven facts to upgrade their marketing transformation and catapult ROI’s by optimizing the process of digital transformation at all levels of the marketing department.
Optimization of digital marketing transformation
Every business owner should employ marketing optimization for each tactic they use. Still, the main motive is to gain a holistic view of the strategy and ways to optimize them to improve performance.
Following are some areas for digital marketing optimization to boost ROI:
Keep an eye on the best channels
In this digital world, there are several ways to reach out to customers. And this ever-increasing number of platforms calls for zeroing in on the best platforms to market. To make the most of the digital transformation in marketing, you should know which platforms are being used by your competitors; this will also help you understand customer preferences. And if there is any platform generating revenues for your competitors and you are not using it currently, you should incorporate that platform in your strategy.
Every day customers are shelled with numerous advertisements. To stand out from the crowd, you should have something new in your basket to serve to the audience. Customers continuously seek value and a connection with the brand. So, it is crucial to decide the content according to the target customer group. This way, your customers can connect with your business, and you will have many prospects.
It is essential to use predictive analytics to measure and boost ROI. Predictive analytics uses machine learning and artificial intelligence to draw insights through massive datasets, models, and algorithms to predict the behavior of consumers. It also facilitates the marketing department to plan effective strategies. Digiligo primarily uses predictive analysis to provide its clientele with people-based marketing (PBM) approaches.
Leverage automation technology
Digital transformation in technology helps marketers use automation tools that can perform redundant tasks to reduce their costs. It is predicted that marketing automation tools will reach $6.4 billion by 2024. By leveraging automation technology, you can shift your focus to more complex strategies.
Ways to grow ROI
As the number of channels is growing, the buyer’s journey is becoming more splintered. Today there is more than one way of interacting and engaging with the customers. This can be taken as an opportunity and a challenge as well. The need of the hour is agility and flexibility within organizations marketing transformation initiatives to improve ROI.
Below are some of the factors that will shape your digital marketing transformation to flourish ROI:
Ameliorate digital channels
It is the first step while moving towards digital marketing transformation; you need to access the value of your current marketing channels and tools. Thorough scrutiny of your website, social media, automation tools, analytics platforms, and customer database will tell you if you are adequately accoutered to amplify your marketing success and, as a result, elevate ROI.
Build the bridge
Building a connection between your channels is as important as optimizing all your digital channels. You should make sure that all your channels are communicating and working hand in hand. CDP (Customer Data Platform) acts as a conjunction between these platforms, allowing you to avoid multiple platforms to track users.
Enhancing customer journey
The improved channel integration will provide you with insights that may help you in deciding the strategy. You would be able to identify weak points and areas of improvement.
The internet is a steppingstone for consumers and business customers worldwide. For instance, 70% of people research a company on the internet before they decide to become a customer. As a result, all businesses, whether small or large, are investing in transforming their digital marketing activities. And this digitization of marketing leads to elevated ROIs with all the factors mentioned above.
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