Don’t Believe the Hype: The Game Hasn’t Changed, Just the Players

Studies abound on the web about the latest trends in digital marketing, from influencer marketing and AI to martech and adtech. While it’s important to stay up to date with tendencies and technologies that industry competitors will be taking advantage of, what is often missed is the why instead of just the how. The fundamentals of marketing and consumer engagement haven’t changed, the tools to achieve your objectives have. The companies who are able to provide customers with a pleasant, convenient and valuable purchase interaction, in short “an experience”, are the ones who will thrive.

At the heart of all the hype surrounding the potential of social media marketing and influencers lies a universal truth, consumers want to be engaged emotionally and they want value. “Influencer” has been the buzz word in the industry for a few years; Young people look up to them with reverence and trust in them for information regarding their purchases. But, when a millennial watches an influencer’s post and takes their advice on a certain product, what exactly is happening? They are listening to somebody who they connect or identify with on some emotional level and seeking what they perceive to be some level of expertise. The person on the screen is just like them, same relative age group and tastes, broadcasting from the comfort of their home. They are trustworthy because they are not shoving some product down viewers’ throats.

Influencer marketing doesn’t make sense for every industry; It would be a hard sell for a 22 year old YouTube or Instagram star to proselytize about an insurance plan they just fell in love with and had to share with the world. The message behind the individual or the shiny new technology, however, contains valuable lessons any organization in any industry can leverage to excel in the age of digital.

• Connect with your customer where they spend their time, don’t make them come looking for you. Some analysts estimate it takes 4 touches to make a conversion, some say it’s as many as 8-9. The point is if you are not engaging consumers and providing them with informative content while they’re curious about your service, they are going to look elsewhere when they need it.
• While many consumers are amazed by new technologies simply for the sake of how innovative they are, the true power of technologies such as AI and chatbots is derived from the convenience they provide. Provide your customer multiple ways to interact with you, on their terms. The more they feel their concerns are valued, the more loyalty they will establish with your company.
• Emotional Engagement doesn’t mean trying to convince your consumer you are something you are not, it means proving to them that their values and goals in life align with who your company is as a business. A bank doesn’t need to make young customers believe they are hip and trendy, they need to make them realize that the organization’s mission is to help people like them take control of their finances and achieve their goals. Nobody woke up this morning and thought “I need a savings account and I need it to be endorsed by someone I like”. They woke up thinking about goals they have for the future and what they need to do to get there. Let them know you understand that.

At Strategis, we understand consumers and we know what it takes to make your business goals more in line with your their priorities. With over 20 years of experience helping companies adapt to the digital landscape, we are experts in our field and are ready to help you with your most pressing concerns.