A recent McKinsey quarterly report by David Edelman goes further than most in paying off on the proposition to get more out of your digital marketing initiatives. McKinsey has found that “the most successful digital marketers focus on managing four core sources of value as they increase the percentage of marketing and channel spending that is directed to digital activities. First, they coordinate their activities to engage the consumer throughout an increasingly digital purchase journey. Second, they harness interest in their brands by syndicating content that empowers the consumer to build his or her own marketing identity and, in the process, to serve as a brand ambassador. Third, they recognize the need to think like a large-scale multimedia publisher as they manage a staggering increase in the content they create to support products, segments, channels, and promotions. Finally, these marketers strategically plot how to gather and use the plethora of digital data now available.”
While in summary form here these four sources of value may seem more like platitudes, but they are in fact excellent signposts for marketers on the road to realizing the promise of the digital revolution unfolding around us. And once again, we are reminded that our best approach is bottom-up (from the customer’s perspective) rather than top-down (from the marketer’s perspective). Taken together, these changes force companies to step back from tactical, day-to-day execution and take a more strategic view of where to invest and make changes. Reading the 7-page report is worthwhile and free but requires registration here.
This entry was posted on Tuesday, May 4th, 2010 at 1:16 pm and is filed under 1:1 Marketing, Behavioral Targeting, Digital Marketing, Direct Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.