Digital Marketing for CMOs – rocket science or a piece of cake?
In 2016, I completed a decade long career in the world of digital marketing and advertising. Over the years, I’ve seen the nature of client queries & problem statements changing quite dramatically. From a very simple one liner like “We want to do something in digital” to “How can we generate leads through digital?”, and the most recent one, “How can we do digital transformation of our business?”.
Arguably, brands in India have evolved significantly when it comes to their receptivity towards digital marketing. Still, there is a sense of fear about digital marketing practices in the minds of business owners and CXOs, majorly due to wrong perception and poor knowledge imparted by a series of small time vendors / consultants & agencies they’ve met in the past.
I won’t say that the fear is completely out of context. Digital medium has indeed grown at a breakneck pace, both in terms of the audience adoption, the excessive use of tech in marketing and the massive data generated by digital devices.
This ‘never seen before pace of growth’ in the Digital world eventually turned the digital marketing landscape into a complex mesh of related and unrelated choices of tools, techniques, media channels, platforms, ad formats and marketing metrics.
Till now, a lot of brands were operating in a single, well defined template of producing one TVC, one print ad & one radio jingle in their entire marketing calendar. Their world was pretty straight forward (not taking anything away from the mainline agencies), until digital shook the entire landscape with its never ending options and opportunities.
Nothing seems to be at rest in the digital world. The biggest discovery platform – Google, changes its search algorithm almost 3-4 times in a year. If you are a marketer who understands SEO & SEM, you would perhaps know what that really means from a content creation standpoint.
With platforms like Facebook, Twitter & Instagram becoming a way of life, social media marketing suddenly became the most important priority for all marketers (big or small). Apparently, strategy for social media engagement is the most abused thing in our business. Not many brands actually know “why they are doing what they are doing?”.
Mobile further added a complex dimension of location & personalisation (UI & UX) to the digital marketing process. Customer experience on WAP & App is now looked upon as the biggest strategic project.
Programmatic ad tech also added a tonne of new set of questions in the minds of already confused marketing teams. The number of 3rd party stakeholders involved (DMP, DSP, SSP, Exchange, Networks, Publishers) with their insanely complex terminology and even more complex execution process, programmatic has enough arsenal to scare a NASA scientist.
However, with all its complications, digital is still looked upon as the next big platform for innovation by many brands.
Simplifying Digital Marketing
I think there is a way in which you can simplify digital marketing strategy for your brand. As a CMO, here are some simple go-to steps that’ll get you going instantly in your digital marketing strategy because you would start asking the right questions to your agency:
- Always check the status of your brands discoverability in the search engines.
- Ensure your SEO vendor has deployed the SEO best practices.
- Create as much content about your product/service/brand. This would ensure that you start getting the right audience on your website.
- Use the analytics data from your website to find out more about your audience.
- Serve more content which is generating more audience visits and active visits on the website.
- Find out the segments you should target in your future campaign based on organic search results.
Digital Marketing KPI
- Your marketing KPIs would vary from business to business, and especially based on the type & stage of business you are.
- Don’t just say that you want to “sell your products”, that is business goal.
- Your marketing goal should be to reach out to the right targeting audience, ensure they spend as much time as possible with your brand and eventually leave their contact details to know more / transact online / visit your store. All these goals can be measured.
- Type of digital metrics
- Vanity Goals – Impressions, clicks, ctr
- Performance Goals – CPC (cost per click), cost per visit (CPV), cost per active visit (CPAV), cost per acquisition (CPA)
- Business Metrics – footfalls, final sales or lead conversion
Digital Media Mix
- Here’s how you can match your primary goals with the relevant digital channel:
- Branding : Banners, Rich Media & Video in Desktop & Mobile
- Lead Generation : PPC, SEM, SEO, Native Ads, Email Marketing
- Driving Footfall : Email, Mobile, Social Ads
- Sales: PPC, Affiliate Marketing
- Engagement: Content Marketing
There is no doubt, while the conventional media industry like Television, Print, Radio & Outdoor were living in their fool’s paradise, digital became the new poster boy of all marketers.
However, when it comes to the Indian market, despite their positive intent, most of the brand teams are still trying to adapt in the cutthroat world of digital marketing.