In 2016, marketers can begin to work on solutions to achieve new levels of consumer value, satisfaction, and engagement by addressing these three digital dilemmas.
Every New Year brings an opportunity to reflect and consider how we can shape the future. Dilemmas coupled with resolutions abound, as evident in the overcrowded gym at this time of year! And, of course, dilemmas really are another way to say new opportunities.
In 2016, digital marketers have more dilemmas (and new opportunities!) to consider and address than ever before. The following three dilemmas represent vast opportunities for this year and beyond:
1. Actionable Data
The top digital dilemma for almost every marketing team is data. Data drives every digital experience. It is the foundational element needed to deliver contextual consumer experiences that generate action. In order to enable and activate data, it must be understandable and accessible. The majority of marketers still face data inadequacy and latency.
Warning! The dilemma of data becomes even more daunting as more data sources are emerging daily. Data sources are expanding every minute with the connected human, connected home and connected car, to name just a few.
Solution: Audit existing data to identify existing sources, attributes, and gaps. Next, outline strategies to gather data where there are gaps, and to make existing data accessible and timely for cross-channel communications. This should be an ongoing process with periodic audits to define new data sources to cultivate data from, and to align with opportunities that put data into action.
2. Consumer Expectations
Consumers are quickly becoming accustomed to experiences that deliver value to their individual lives in the moment. With more real-time, contextual communication, entirely new business models are being created. And the differentiator is data that is the underlying driver of consumer value.
Think of the different expectations consumers have for taxis versus Uber or Lyft. Consumers are willing to trade their personal information and location for a better experience. This trade of data for experience relies on a clear consumer value proposition and, of course, delivering on that promise.
Understanding heightened consumer expectations across all industries is a key first step in addressing this immense opportunity for disruption. Great consumer experience can become viral, so expect a good digital experience in another industry to find its way to your realm soon.
Solution: Look across competitive and aspirational consumer experiences to understand existing expectations. Audit the customer lifecycle and define use cases that will deliver value and clear differentiation to the end consumer. Test the impact of new experiences that deliver on heightened expectations, and even aim to exceed them.
Here and now is everything – we deal in split seconds as marketers and consumers, taking full advantage of digital moments. Time is the truly valued currency. And we need to respect it by optimizing across every consumer experience to provide valuable information at each micro-moment.
Amazon is a retailer that understands the value of a consumer’s micro-moment. By delivering on the consumer’s need for speed and value, Amazon established a one-click purchase path. Many other industries are beginning to deliver value on the consumer’s micro-moment.
Solution: Examine every channel, including every user experience to ensure the micro-moment is optimized. The goal is to streamline across the lifecycle and, in particular, key conversion points. Experiences need to be built for the sophisticated, savvy, fast moving consumer, who may amplify their experience via social media, be it good, bad, slow or efficient.
With an eye on these three dilemmas in 2016, marketers can begin to work on solutions to achieve new levels of consumer value, satisfaction, and engagement. As new solutions are established, marketing organizations will need to re-focus themselves on the individual consumer’s actions. How is your organization dealing with these three digital dilemmas (and opportunities)?