It has been a strong start to the 2016-17 financial year in regards to global marketing. We can acknowledge that in general, reports show that the current climate is relying on global market conditions and consumer purchasing behaviour to bring consumers into alignment with marketing tactics from businesses.
As businesses, we can use this information to reflect, assess the current climate, and furthermore; execute for the next quarterly period.
Down under, we have seen a 63% focus on customer journey strategies from businesses as part of their overall business planning strategy. This comes as businesses are shifting into an environment where they are looking to build on existing relationships rather than sourcing new relationships from potential customers. In a study done by SalesForce Research we again see that this is enforced by firms as 72% of firms agree that it positively impacts overall customer engagement.
Overall marketing costs emphasize that business investment has prioritised social media engagement at 65%, while both SMA and social media marketing remain at 64% of increases in marketing expenditure over the forward quarterly estimates.
Australian businesses can now see that there has been a shift towards social media engagement from global leaders, rather than advertising and marketing in general. This is forecasted to remain a high priority for small, medium and large businesses over the next quarter.
Effectiveness of Mobile Campaigns
Strengthened customer engagement has forced businesses to push promotional content in mobile applications, and these are the most effective:
- Exclusive Deals 80%
- Loyalty 78%
- Promotional Content 75%
- Browse Retargeting 75%
- Post Purchase Onboarding 75%
- Post Purchase 75%
It can once again be seen that customer relations has had a recent shift towards the engagement/CRM side of marketing. This has provided businesses with the opportunity to streamline a direct, interpersonal approach towards boosting their marketing strategies.
ROI growth has focused on social in order to gain traction among reoccuring sales. The top contenders include:
1 - Facebook
2 - Twitter
3 - Google+
4 - YouTube
5 - Instagram
Social media analysts believe that Twitter's effectiveness is shrinking and is running parallel to Google+'s strategy. Inversely, the effectiveness of Instagram's photographic engagaement opportunities have allowed the platform to boost CRM through push marketing capabilities, although it's partner in crime, Facebook, has focused primarily on text combined with photography.
In the analysis above we can see that engagement has been a prime focus over the last quarter, and has outweighed the traditional marketing strategies of SMA and general marketing.
The capabilities of social media have strictly inhibited a direct, interpersonal and upfront way to catch the attention and interests of individualised consumer bases, which has landed businesses in a competitive market situation against firms running traditional marketing methods.
The reverse engineered way of a tutorial or lesson - in the form of videography - has been able to capture a clear understanding of viewers' (or customers) needs and wants, hence, I believe that videography will be rising up to some of the most effective channels of marketing distribution within the next quarter.