Meet The Top Trends That CMOs Are Eyeing
Updated: Jan 20
Build a community before inspiring a purchase! You definitely read that right. Nike and other large brands are proactively exercising a human-to-human approach to create a special connection with their customers. Even Instagram heavily focuses on its features and communications around growing a community. An interesting shift to take note of is how CMOs are focused on investing in a consumer’s journey than just persuading a decision.
“Buying from Nike isn’t entirely the point. We began to invest in people (the community) on social media because that’s where they are and that’s where they spend time” says Wes Warfield, Nike Social Media Manager.
The following are a few trends that have taken a huge leap considering the uncertainties.
Less is more!
CMOs brace yourself because marketing experts agree that businesses will need to divert their focus widely towards online services. A recent graph by Gartner revealed that marketing budgets show a total revenue drop from 12.2 per cent in 2016 to 6.4 per cent today and trending downwards. A budget drop still expects increasing sales which seems possible if the right efforts strive towards digital marketing.
Foreseeing a lifetime opportunity to connect by asking ‘Why’
Acting as a support group and fueling a common cause that matters to your audience is yet another key trend that foresees in achieving a wider goal – to become memorable and emotionally connected. The efforts carved out in this direction need consistent development and driving maximum focus towards cementing a positive brand perception. This leads you towards being a major part of a consumer’s journey.
Connecting today to sustain tomorrow
Why the largest of brands are focusing entirely on cementing a connection lies in the word-of-mouth recommendation which has prevailed since the beginning of time. Brands are effectively utilizing it since ‘an audience connect’ is what helps keep fierce competition at bay.
Taking the giant leap towards mature measurements
Taking your ROI to a whole new level is what 2021 is talking about. A company’s measurement of success should be aligned with its long terms goals solely because your brand needs to be strongly linked to understanding a customer’s journey, their behavior, and influences. Measuring what can create impact, conversion and advocacy are what CMOs are eyeing and requires investing in proper research.
Storytelling to create an impact in 2021
While challenges to market effectively prevail, it has given rise to opportunities as well, if only brands utilize the human-centric approach which is at the heart of every communication. The power of being relatable in the age where one share can reach millions speaks volumes. Ignoring the effective way of storytelling will keep lagging your success. Let the audience find your communication attention-worthy.
Bridging the retention gap
Managing the data collected and measuring the impact of successful communication pieces will only help to focus on strategies bringing customers back to you. CMOs are investing in better technology to gain better ways to fuel the customer’s retention duration.
With better trends, arise technology and tools to drive smoothly on the bumpy ride which uncertainties push towards you, companies now have only one choice left - to move forward.
Are you on board?