During a time when customer data is revolutionizing the way companies interact with their customers, marketing has never been more complex. Marketers are juggling more channels, more choices, more information and ways to use that information than ever before. Here are the top 4 challenges marketers face (and some tips how to solve them):
Multi-channel campaigns allow marketers to interact meaningfully with customers across multiple touchpoints at multiple stages of a customer's journey. Attribution is about identifying those touchpoints, or user actions, and basically assigning a credit to them.
And it has never been more complicated. Even just a few years ago it was a relatively simple process, but now, with multiple channels and devices, how can you definitively say which channel or touch point is the most valuable?
It's a question that has even veteran marketing pros scratching their heads. If your knowledge of attribution modeling is murky, you're not alone. According to Leadsrx, 74 percent of marketers say matching customers across multiple devices is important to growth, but only 14 percent have a strong capability to do so. Further, 77 percent say they believe they're using the wrong attribution models, or they don't know.
- Getting leads
Thanks to GDPR, generating and especially using leads, the holy grail of marketing, just got a lot more complicated. Just because someone visits your website or clicks on a link involving your product or service doesn't give you license to contact them. Not anymore. Customers indicating that they're interested in whatever you're selling isn't enough. They have to physically, knowingly, opt in. That's the sea change GDPR is ushering in.
Yes, GDPR regulates European businesses, but that doesn't mean companies in the U.S. can breathe easy. Have you noticed all the emails in your inbox in recent days from companies informing you that they're changing the way they are collecting, storing and using your data? Some of them might even be asking you to consent to receive offers and emails. That's GDPR in action.
But, getting leads is a problem beyond GDPR, it's also hard because brands need to know how to cut through the noise and target the right audiences.
- Activating data
Data activation is about marketing based on a customer's needs and behaviors in real- time. The challenge here is deciding which part of any given customer's data is the most relevant. Say you have a customer who ordered one of your products online and, based on her purchases and interests, you know she is an empty nester who works out regularly and owns a home. Do you target her as a parent of adult children, an exercise enthusiast or a homeowner?
- Determining ROI
Determining and measuring ROI is the top challenge marketers face. While the bottom line is the bottom line, isn't engagement important, too? Sometimes marketing efforts, and the money spent on those efforts, can be linked directly to sales, but sometimes they can't. Especially when you're talking about digital marketing. Is an increase in website visitors enough? What about a strong lead-to-close ratio? These are two ways companies measure ROI when marketing can't be directly tied to sales.
What's the fix?
Using a custom data orchestration platform like DataSwitch can help you navigate those challenges by aggregating, organizing, interpreting and activating your data to achieve centralized cross-channel audience insights. It gives you a seamless way to comply with GDPR, too, creating consent pop-ups and "forget me" requests.
In the end, those who succeed in solving these problems will be the ones who are willing to test different solutions. Interested in seeing how DataSwitch can help you solve these challenges? Sign up for your personalized DataSwitch demo today.