Will your marketing continue to break through and get found by your target audience?
Because we’re in the midst of a seismic marketing shift.
So your information, data and/or promotions may not receive traffic from:
- Voice-first searches that yield one unbranded answer as well as buyer intent related “near me” requests.
- Google searches where half of responses don’t result in a click.
- Organic and paid social media since engagement rates have declined to almost nothing.
And, that’s before you consider:
- How businesses respond to economic uncertainty and
- How both B2B and B2C buyers have changed their approach to purchase.
So what can you do as a marketer?
Pivot so your strategy and plans acknowledge and address this major disruption.
The good news:
You probably already have the basics you need.
But, instead of following the same approach that you’ve used over and over:
Modify your marketing mix and adjust your budget allocation.
Let’s see how you can accomplish this to yield profitable results despite the seismic marketing shift.
Seismic Shift Marketing Definition
Seismic Shift Marketing responds to 3 key underlying changes in the overall environment.
- Global economic uncertainty causing businesses to seek increased return from existing resources.
- Purchase process changes for both B2B and B2C customers. The traditional customer journey no longer exists.
- Content saturation that keeps your content, information and data from attracting its share of audience attention.
Further, these 3 disruptions run on recent technology changes and improvements—especially AI. You don’t see them until they become 95% to 99% accurate. Businesses that plan for these changes achieve a significant advantage that can be difficult to match.
To survive the Seismic Marketing Shift, transform your marketing.
Seismic Shift Marketing: The Underlying Data And Research
The 3 key elements of Seismic Shift Marketing have changed the marketing playing field.
To better understand each factor, examine the data.
Seismic Shift Marketing Cause 1: Global Economic Uncertainty
Due to concerns about politics, trade and business dynamics, businesses focus on activities where they have control and can tie results to the bottom line.
As a result:
77% of CEOs focus on “operational efficiency” according to PwC.
Although this means that businesses invest less, cut budgets and focus on improving internal resource use, marketing still has an opportunity to succeed.
Actionable Seismic Shift Marketing Tips:
- Improve customer acquisition and retention across the entire buying process. CEOs also focus on organic growth (71%), new products (62%), and new markets (37%). So marketing is uniquely positioned to support acquiring an addressable audience, warming them with tailored welcome series, and improving on-boarding.
- Increase content renovation to cost-effectively offer a balanced mix of content. This includes updating and transforming content to other formats and continued distribution over time.
- Find internal efficiencies. Marketing can also help other departments create content, information and data that meets their needs!
Seismic Shift Marketing Cause 2: Purchase Process Changes
For both B2B and B2C buyers, the traditional buyer journey no longer exists.
The New B2B Purchase Process consists of 6 tasks according to Gartner.
- Problem identification
- Solution exploration
- Requirements building
- Supplier selection
- Consensus creation.
Further, B2B buyer teams consist of 6 to 10 stakeholders. And each person consults 4 to 5 sources of information.
- 44% of B2B buyers have to resolve conflicting information before making a purchase decision.
B2C: Amazon has a lock on US consumer buying:
- 103 million US Amazon Prime members who spend $1,400 per year versus $600 for a non-Prime member.
- 93% of US Prime members keep their subscription after 1 year and 98% after 2 years. But trial conversions dropped to 64% in 2019.
- 31% of Amazon Prime customers buy at least weekly (versus 16% on other sites) according to NPR.
44% of US adults start shopping on Amazon (versus 33% who start on Google) according to NPR Research.
Actionable Seismic Shift Marketing Tips:
- Deliver information to when, where and how your audience needs it. Respond to visitors’, prospects’ and customers’ “micro-moments”. Offer voice-first and mobile content to answer full questions and “Near Me” searches.
- Support audience interactions. According to Gartner, 62% of B2B buyers learn independently.
Seismic Shift Marketing Cause 3: Content Saturation
Facing content overload and reduced trust, marketers have difficulty attracting attention for their content and promotions. Of further marketing concern, this content saturation applies across devices, platforms and content formats.
- Paid social yields have dropped to 0.015% median engagement compared with 0.026% for organic (or unpaid) posts based on analysis of one month of 2019 Facebook data by Trust Insight’s Chris Penn
Translation: Your paid Facebook marketing is largely wasted! Additionally, Penn’s 2019 Social Media Analysis based on Talkwalker data revealed that YouTube, the second biggest search engine after Google, had the biggest increase in net volume.
- 70% of people use voice search and receive only one unbranded answer. Further, 30% of these responses never yield a URL.
- 50% of Google searches are no-click. This means that, even if your content appears in the answer box, the person never leaves Google.
In addition, 14% of these searches direct people to other Google entities according to Rand Fishkin of Sparktoro.
Actionable Seismic Shift Marketing Tips:
- Develop your content marketing and owned media to attract voice and mobile search.
- Use paid social media and other promotions to better understand how to segment your audience based on data. But send visitors to owned media with connected content as soon as possible. Further, use welcome emails to continue to warm your new audience.
- Take advantage of social media profiles to create entrance ways to your owned media. For example, I added a link to encourage subscription to my AMG Newsletter to my Twitter Profile.
3 Steps You Need to Succeed Despite the Seismic Shift in Marketing
1. Create a viable owned media entity for the long term
I strongly recommend a blog that focuses on:
- Consistency, publishing at least weekly on a set day and time,
- Structure to be visible cross devices (aka: hub and spoke approach,)
- Related sharing (including dark social), and
- Longevity to continue to fund and fuel on-going activity.
According to Chris Penn of Trust Insights,
“If you have a choice on how to spend your budget, spend at least 51% of it on things that are yours. (And remember at least 10% of it should go to measurement). Deliver insanely great value on your owned media channels to make them places people want to spend time.”
2. Build an addressable audience
Ideally develop a weekly email newsletter since this content doesn’t depend on a website. Further recipients use other apps to access email. The key to success is to build a content consumption habit for your information. As a result, you build Share of Audience Attention.
3. Integrate your brand into every element of your marketing
While many marketers overlook the value of branding due to the difficulty in measuring its true value, you need a combination of branding and sales engagement to yield profitable revenues over time. Further, consistent use of branding is the cheapest marketing that a small business can do.
Seismic Shift Marketing Conclusion
As Seismic Shift Marketing becomes more apparent, you’ll find it more and more difficult for your marketing content, information, data and promotions to attract attention.
Beyond making the case to your boss regarding this massive disruption, prepare your marketing to remain visible and viable over time.
Invest in owned media (aka: a blog and/or app) and an addressable audience (aka: an email list) while continuing to build your brand recognition.
The good news is:
You can continue to build on your best existing content marketing assets to keep them up-to-date, transformable to other content formats, and continually promoted.
While success requires investment and work, you can start to build your post-seismic marketing shift platform now.
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Join me at Project Voice! I'll be at this must-attend event in Chattanooga. Why? To get the latest on how to get found in a voice-first world.
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