If you believe that you’re not wasting resources on digital marketing, I have a surprise for you! Most surveyed marketers say they cannot prove the ROI (return on investment) for their digital marketing efforts, particularly on social media and content marketing.
Oh no, you say!
Sorry to break bad news, but TrackMaven’s Marketing Leadership Survey: Strategy, Technology, and Data-Driven Management 2017 demonstrates that the biggest challenge for over 71% of surveyed marketers is proving the ROI of their social and digital marketing efforts. And many of us assumed that digital marketing would make tracking easier than traditional marketing!
These aren’t unique results either. Last summer, MarketingCharts posted results from The CMO Survey that showed how difficult it is to show the impact of social media marketing efforts on businesses. Without evidence, we can’t assume that the same results would apply to nonprofit organizations, but typically, they tend to fall behind their for-profit counterparts.
The TrackMaven survey doesn’t say that marketers aren’t trying to measure their results – the top three metrics they use are: engagement metrics (91%), consumption metrics (82%), and audience growth metrics (78%). What it is saying is that only 27% of them consider themselves very effective at demonstrating the value of marketing efforts internally. Most (69%) say they’re only somewhat effective. Ouch.
Small business owners are the heart of our economy, but they face a huge challenge: building a company on their own with a limited budget.” (Clutch 2017 Small Business Digital Marketing Survey)
To many small businesses, marketing and advertising can feel like creative luxuries compared to payroll or inventory expenses, as examples. Yet, a recent study cautions against under-investment of time and other resources.
Whether your marketing budget is $10,000 or $1,000,000, Clutch found that best [digital marketing] practices come at a wide range of price points and creative solutions that can boost any small business’s competitive edge.”
Of course you want your customers to have the best digital customer experience (CX)! Who wouldn’t?
Have you ever heard of “design-led” or “design thinking?” Here are two definitions:
Design is seen as a strategic differentiator for the organization. Formal design processes are established for marketing, product, and customer experience initiatives. Design is integral to shaping digital CX and is involved at every stage when strategy is being set.” (Adobe/Forrester Consulting)
It means making design an integral part of every thought process in your company’s marketing (and product development or service offerings), and can be the line between success and failure, between blending into the sea of mediocrity and standing out, between ultra-creative thinking and what everyone else does.” (Yvonne Lyons, “The Rise of the Design-Led Company — Don’t Be Left Behind,” Right Source Marketing)
So, does it work? You bet!
Companies that embed design thinking in digital CX strategy — those that we classified as design led — achieve tangible business benefits. Moreover, we found that the more that design is embedded in digital CX strategy, the more these benefits are achieved.”