According to some infographic from McKinsey&Company successful digital marketing can boost their marketing effectiveness by 15-25% if they use the following five components of marketing operations. So, if your company wants to beat the competition, you better follow the advice to implement these five important components.
Here is just some remarks from our consulting business to why those topics might be of relevance to your digital strategy…
1. Customer Insights
Many companies still have not yet implemented a real web analytics or a social media monitoring tool in order to understand the inner and outer impact of consumer demands and reactions.
2. Customer Experience
Market research and product marketing often pretends to know what needs to be build, produced or offered. However, reality shows that often consumer expectations and company opportunities lack the match. Often companies lack the alignment with sales and marketing.
3. KPIs and Measurement
Understanding what makes consumers, companies and decision makers purchase a product or service is aiming for predictive analysis and forecasting when focusing on ROI. Still, KPIs need to be realistic and often lacks the knowledge of what technology is capable of.
4. Marketing Technology Infrastructure
The real bottleneck of digital marketing these days. As of the big marketing technology landscape and a grown intern technology infrastructure, technology decisions are very often a shot in the dark.
5. Process & Governance
Generating real benefit from technology is depending on the right people who get the appropriate training und understanding for the tools’ capabilities. And as people are often not used to those modern tools and how to use them, they want a (brand) governance (and compliance frameworks) which keeps them in their seats.