In this era, marketing agencies are under pressure to show a return on investment (ROI) for their clients’ marketing budget. The old model of simply buying advertising and hoping for the best is no longer enough. Today’s marketers need to be able to prove that their efforts are resulting in real, tangible results.
This can be a challenge, as there are many different ways to invest marketing dollars, and each has its own advantages and disadvantages. To make things even more complicated, what works for one company might not work for another – there is no “one size fits all” solution when it comes to marketing.
Bill Schantz will now explain the different areas marketers should focus their investments in.
Investment Opportunities for Marketers per Bill Schantz
Protecting Consumer Privacy
According to Bill Schantz, privacy is a major concern for any business that relies on customer data to drive its marketing efforts, and it’s one that needs to be addressed head-on.
There are a number of ways to do this, but one of the most effective is to invest in data security and privacy tools. These can help to encrypt customer data, as well as give customers more control over how their data is used. This can go a long way toward instilling trust in your brand and helping you to avoid any potential GDPR fines.
Developing New Products and Services
If you’re not innovating, you’re falling behind. In today’s fast-paced world, it’s important to constantly be looking for ways to improve your products and services and stay ahead of the competition. This can be a costly endeavor, but it’s one that is essential for long-term success.
Investing in research and development (R&D) can help you to come up with new ideas for products and services, as well as give you a better understanding of your target market. This knowledge can then be used to create marketing campaigns that are more effective and more likely to result in sales.
Podcasts are one of the most popular forms of content right now, and they’re only going to become more popular in the years to come. If you’re not already investing in this medium, now is the time to do so.
Podcasts offer a number of advantages for marketing agencies. They’re relatively inexpensive to produce, and they can be a great way to build trust and credibility with your target audience. What’s more, they can be repurposed into other content formats, such as blog posts or infographics, giving you even more bang for your buck.
As the world becomes more and more connected, it’s important to remember that not everyone is the same. Diversity marketing is a form of marketing that takes into account the different needs and wants of different groups of people.
According to Bill Schantz, this can be a challenge, as it requires a deep understanding of different cultures and how they interact with your product or service. However, it can be extremely effective and help you to tap into new markets that you may have otherwise missed.
Investing in diversity marketing can help you to reach new customers and improve your brand’s reputation at the same time. It’s a win-win for any marketing agency.
Bill Schantz has mentioned a few different ways that marketers are investing their money. The best way to determine which investment is right for your agency is to assess your needs and objectives and then make a decision based on that.
However, one thing is certain – if you want to stay ahead of the competition, you need to be constantly looking for new ways to market your products and services. Only by doing this will you be able to keep up with the ever-changing landscape of marketing.