 "Ashish Sinha")
It's not always about the quantity of data - rather the quality of the data and making it actionable in your business and marketing strategy, Ashish Sinha tells Sangeeta Tanwar
The ecosystem we use to manage a digital marketing strategy has really just evolved in the last two to four years. But the tricky part of digital marketing is that the rules seem to change every day. So what are the signs that you are doing digital marketing wrong?
There has been a seismic shift in how consumers engage with brands in today's multi-screen, always-on society. This means that marketers need to shift from brand-centric, mass marketing to consumer-centric, highly targeted marketing and right now they are struggling to catch up. Many are falling behind because they are not focusing enough attention on the data assets that are needed to align their strategy and approach to ensure consumer engagement. They're also using outdated strategies and measurement app-roaches. For example, the concept of marketing campaigns that have a defined beginning and end point is completely outdated. Marketers should be running millions of campaigns at any given point of time based on the various points of engagement with individual consumers.
What are the most common misconceptions businesses have about digital marketing?
There are many misconceptions tied to digital marketing. Some organisations view digital as something that is additive, whereas we believe that it must be central to business strategy. Other brands see digital as a standalone strategy but we believe that channels need to be viewed as part of a holistic customer engagement strategy. Some underestimate the value of leveraging data to not only target media, but to refine their approach to engaging consumers through data informed creative. Another misconception is that marketing has to be real-time, especially in social media. We are shifting from real-time to right time through contextually targeted content as the key to connection. Still others view digital as overly complex.
In what ways can organisations leverage big data and analytics for error-free decision-making?
Data and analytics are the critical mechanisms to create relevant connections with consumers across channels and optimise performance. To start with, it's important that an organisation leverages its first-party data, or what they know from past interactions with customers, as well as third-party data, such as demographic and behavioural data, social data, self-reported information and more, to inform marketing decisions. This requires a centralised repository of data to view and understand consumers on an individual basis as well as technology and tools that can disseminate personalised messages in the moments that matter on a massive scale. Analytics can then be used to close the loop through measurement and attribution and drive future interactions.
With so much consumer data floating about, it's natural for decisions makers to get overwhelmed. How can managers navigate this data maze?
The data available today is unprecedented. The key is to align with a trusted partner who knows how to leverage data, understands the client's business and can align the various data assets in a way that will drive business outcomes. This can be through mapping affinities socially for targeted media to informing the next big idea for the brand. It's not always about the quantity of data - rather the quality of the data and making it actionable in your business and marketing strategy.
What are the three big emerging trends in digital marketing?
The first is moment-based marketing. There has been a macro shift towards moment-based marketing over the past year, where a moment is simply an event plus context. With consumer media and digital consumption so highly fragmented, it's paramount to have the ability to deliver a consistent message across physical and digital mediums that aligns with the right moment (location etc.)
The second is the shift from social media to social messaging. We are seeing notable shifts in how social media is being consumed, driven by both the publishers and consumers. Publishers such as Facebook and Twitter are incorporating features that are found on narrowcast and ephemeral networks such as Snapchat. Elements like native GIF search, doodles, stickers and enhanced emoji are all signs from the publishers that their audiences' behaviours are shifting. Consumers are also adopting messaging platforms at a staggering rate which indicates that they are moving towards more intimate sharing, as opposed to broadcast messaging.
The third is immersive experiences. The buzz at most of the major conferences this year, such as the Consumer Electronics Show, Mobile World Congress and South by Southwest, continues to be around 360-degree video, virtual and augmented reality and mixed reality. Media, brand and agency interest in immersive experiences is at an all-time high due to the emotional aspect of the medium. The ability to not only recreate our world, but to create new and innovative experiences, is definitely interesting and an area that we are monitoring closely and actively discussing with our clients.
