Diversifying Investments: Your Marketing "Do" for 2022
If you're a frequent visitor to the Code3 blog and resource center, you've already internalized the often-repeated advice: To succeed in the digital marketing landscape, your brand has to be everywhere all the time to connect with your target audience. At the same time, the media, creative, and commerce sectors have been rocked by pandemic-related operational pivots, along with consumers' increasing demands for data privacy.
To combat these ever-evolving challenges, advertisers need to innovate new ways to reach and connect with online users. By remaining open-minded, you can ride the waves of change to optimize reach, engagement, and conversion on the most powerful platforms by diversifying investments in online marketing.
Connecting in a creators-first environment
Many platforms prioritize creators over advertisers and brands, which drives evolution as apps make changes to cater to this cultural force. For example, Twitter recently launched subscriptions as a means of income for content creators and purchased editorial newsletter service Revue. Considering how and why creators use certain services to monetize their brands can inform your existing strategies. In turn, you can anticipate likely changes to stay one step ahead of the competition—a constant challenge in the digital landscape.
Establishing a flexible mindset
When you experience an impressive return on a single platform, you may be tempted to divert the largest proportion of your ad dollars to that channel. In fact, dominant social media sites can and do change, so it's important to avoid dismissing the next big thing as an inconsequential fad. That doesn't mean you need to completely forget about what works for your brand. Instead, set aside a portion of marketing funds for research and development so you can tinker with potentially transformative results.
Experimenting with augmented reality
While it might sound like science fiction, augmented reality has a firm foothold in the marketing mainstream. Savvy brands can stand out by creating immersive AR experiences that encourage purchase decisions. Snapchat serves as the best starting point if you're new to AR, with user-friendly features and capabilities that have streamlined social commerce. In addition to showcasing your products in this new space, you can track a new set of metrics such as how long users interact with objects in AR and where they look during the user experience. In turn, this data can inform your AR strategy so you can constantly iterate to meet your audience where they are online.
Emphasizing video content
If your brand isn't already committed to video marketing, you're in danger of falling behind the curve when it comes to connecting with generations of digital natives. Look no further than brand partnerships with giants like Marvel to see how valuable TikTok's video-first approach can be. According to Wyzowl's recently released State of Digital Marketing survey for 2022, users have doubled the amount of online video they watch over the past four years.
In response, most marketers surveyed said they increased their video budgets last year and plan to do so again in 2022. In fact, of the 86% of brands that dedicate dollars to digital, 92% said video is an important part of their marketing strategy, and 87% reported a positive ROI on those funds.
Pivoting to personalization
Brands must achieve increasingly granular targeting as consumers expect messages that speak to their immediate needs. In a survey by Salesforce, marketers reported that delivering personalized content achieved diverse objectives. Nearly two-thirds said this approach boosted conversions or improved customer experience, while more than half said personalization increased visitor engagement. More than a third of respondents stated that implementing closely targeted campaigns enhanced customer loyalty, brand image, customer acquisition, and/or lead generation.
To succeed in social commerce, your brand needs to shake things up every so often. While it might seem expensive to invest in new platforms and channels, remaining stagnant will erode your potential profits. Code3 can provide the support to diversify your approach without reinventing the wheel or disrupting your existing campaigns. Reach out today to strategize about your brand's next steps in the digital space.
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