The world of marketing is always changing, with new strategies, technologies, and consumer trends emerging almost daily. It’s essential for businesses to stay ahead of the curve and anticipate the upcoming trends that will help shape their marketing efforts.
These Five Key Marketing Truths are set to make a significant impact in 2024, empowering businesses to harness the power of data to connect with their target audiences in innovative ways to achieve sustainable growth.
1. Make first-party data your first priority
With the increasing number of users blocking cookies, as well as increasing legislation and national debate around user privacy, there has been a significant shift from relying on third party data to utilizing first party data collection. First-party data is information collected from audiences through your owned digital channels, making it reliable and issue-free as people have consented for you to use their data to make contact and engage. Because it’s owned by you, first party data provides invaluable audience insights making it easier for you to provide more personalized experiences and target more of the right users and harder for competitors to gain insights into your audience’s preferences and behaviors.
2. Unlock the power of audience insights
When used correctly, insights gathered from first party data can be a goldmine for your business. Once you understand the data you’ve collected, you can amplify the ROI across every marketing effort. They can be used to build brand awareness, re-engage lapsed customers, drive new leads and more. By using these insights into customer identity, behaviors and interactions, businesses can purchase fewer, higher-quality ad spots with the potential for higher conversion rates.
3. Focus on user journeys
Another advantage of first-party data is its ability to provide a detailed look into your audience’s user journeys. With the ongoing evolution of existing ad and social platforms as well as the frequent introduction of new platforms, tracking and defining user journeys can become tricky. Because first party data is defined, collected, and owned by the company itself, it can see more accurate and timely customer journeys and audience patterns which will be helpful in short- and long-term planning and determination of KPIs.
4. Build your brand with content strategy
Part of the user journey will likely involve audiences visiting your website where they will be seeking content related to their issues or opportunities. Although placing certain content behind a gate or member wall can play an important part in lead conversion, ungated content can also serve as an easy way to make potential leads more aware of and interested in your brand and offerings. It’s important that your content offerings are aligned with each stage of your audience’s user journey in order to drive lead conversion.
5. Tell your story
You’ve probably heard the saying “content is king.” And when we talk about content, we’re talking about storytelling. We combine first-party data with audience insights to create powerful and genuine stories that make a deep emotional connection between your brand and your audience. This helps build trust and loyalty, ultimately leading to action. And when it comes to storytelling, video is one of the best tools available. With the rise of mobile and streaming, investing in video is a smart move that can help you connect with your audience like never before.
Ready to create a data-driven and member focused marketing strategy for 2024?
