Marketing transformation is the process of adapting and evolving a company’s marketing strategy to meet the changing needs of consumers and the market. This may include incorporating new technologies, shifting focus to customer experience, and re-evaluating the effectiveness of current marketing tactics.
As the business environment continues to change at a rapid pace, companies must stay agile and adapt their marketing strategies to stay competitive. In this article, we will explore the key elements of a successful marketing transformation, including identifying areas for improvement, developing a plan for change, and measuring progress.
We will also look at examples of companies that have undergone marketing transformation and the impact it had on their business.
Within every sector marketing transformation is taking place as a result of technology.
Examples of companies that have undergone marketing transformation in recent years:
- Coca-Cola: In the early 2000s, Coca-Cola recognized that consumers were shifting away from sugary drinks and towards healthier options. In response, the company transformed its marketing strategy to focus more on promoting its healthier beverage options and reducing the amount of sugar in its drinks.
- Procter & Gamble: In the 2010s, Procter & Gamble transformed its marketing strategy by placing a greater emphasis on digital marketing and social media. The company also shifted its focus towards more personalized, targeted marketing campaigns.
- Domino’s Pizza: In the 2010s, Domino’s Pizza transformed its marketing strategy by focusing on digital and mobile ordering, and by highlighting the quality of its ingredients in its advertising. This led to a significant increase in online and mobile sales.
- Old Spice: Old Spice transformed its marketing strategy in the 2010s by embracing humor and creating viral-worthy content. This led to a significant increase in brand awareness and sales.
- Starbucks: In 2020, Starbucks transformed its marketing strategy by focusing on sustainability and social responsibility. The company also shifted its focus towards digital channels and e-commerce to reach customers during the pandemic.
These are just a few examples of companies that have undergone marketing transformation in recent years, and there are many others. The key is to be flexible, responsive to market changes, and to be open to trying new things.
From cloud computing with smart phones which puts super computers in the pocket of a massive quantity of users ( or the ability to watch daft videos on TikTok).
This now provides the opportunity to reach anybody at any time (through a wide variety of communication media – telephone, e mail or any of the appropriate social methods).
This can be seen as beneficial as research indicates that 6 to 8 touch points are still required to educate and inform the customer as they move through the buying process.
Marketing Transformation – Today’s Customers Are Immune
- There is so much noise and miss information today’s buyers require more conviction
- Over 70% of buyers start the buying process with a generic search on a search engine (Google being the search engine of choice for over 90%)
- So B2B buyers are doing their primary research and investigations and doing it for themselves. So its absolutely vital to make sure that the self search information is valid and clearly differentiates you
It has been recognised for some time that quality content marketing is a required marketing activity, following this rationale
- The company creates high quality content
- Potential buyers find this content and digest
- Ideally they then go on to make a purchase
- Potential buyers find this content and digest
A vendors website is the most important source of information when researching and evaluating technologies and processes
B2B Conference May 2021
How Do You Make Your Website Better – Through Marketing Transformation
- Would your site perform better through having a “Virtual Agent – 24-7 Capability” that helps guide a consumer to the right info. Almost intelligent navigation that can prompt when it would be good to talk to a real person
- Content is more than words it needs to be made up of compelling and really useful stories
- Need to reduce the friction as a buyer moves through the site
As is often the case the important element is to ensure that everything links to a marketing and sales strategy as opposed to just using technology and new approaches for the sake of choosing the latest shiny new approach.
For more information on making your website better through marketing transformation click here.
Listen First For Great Marketing
In B2B good marketing should be a conversation between the buyer and the selling. In order to optimise this process the art of listening needs to be gained prior to the discussing and selling that will need to take place. Unfortunately all to often talking occurs too quickly and often at the wrong time.
Lets look at the 3 stages
The reason and importance of quality listening cannot be understated. You are listening to gather information. If you are looking to develop a relationship and make a sale unless you know what the “pain and issues of importance” to the customer, how will you be able to offer any suggestions
- When listening the most important element is to shut up and actively listen. You have two ears and one mouth they should be used in that ratio.
- Absorb the information, take it in and store it. Respond with the information in a way that makes them feel as if you have understood (this will then make them feel special and valued)
- Connect on a human level without business in mind – ultimately many products or services are very similar so its often about people and relationships
- When listening look for problems to solve
This is the part of the process where you need to convey your understanding of all that listening. Reflecting back to the customer “this is what I think you were”. This is a critical stage as you need to make sure that you have understood correctly
- Note : If the customer interrupts then you need to revert back to listening mode
- Importantly you need to be preparing for “sales” mode
So now might be the opportunity for sales mode alternatively now could be the time to plan the next stage of listening and discussion.
If sales mode is appropriate then be sure to have a value proposition available that meets your understanding of the customers needs
Listen First For Great Marketing – Two Tips
1: To connect at a human level sometimes a prop can help. Perhaps you wear a club tie, or have a badge that reflects your hobby or passion. This prop may help encourage a human level intervention before you start listening business
2. The following four letter acronym might help “WAIT” -.
Always be considering – “Why Am I talking”
The benefits of marketing transformation
There are several benefits of marketing transformation for companies, including:
- Increased competitiveness: By adapting to changing consumer preferences and market trends, companies can stay ahead of their competitors and maintain a competitive edge.
- Improved customer engagement: By focusing on customer experience and personalization, companies can improve the way they engage with customers and build stronger relationships.
- Increased efficiency: By streamlining processes and incorporating new technologies, companies can improve the efficiency of their marketing efforts, resulting in cost savings and increased ROI.
- Greater flexibility: A transformed marketing strategy allows companies to be more agile and respond quickly to changes in the market.
- Better measurement and analytics: By focusing on data-driven marketing, companies can improve the way they measure and analyze the effectiveness of their marketing efforts.
- Brand awareness and perception: By focusing on brand awareness and perception, companies can improve the way customers perceive the brand and increase the chances of brand loyalty.
- Increased revenue and profits: By improving the effectiveness of their marketing efforts and reaching new customers, companies can see an increase in revenue and profits.
Overall, marketing transformation allows companies to stay relevant, responsive and efficient in their marketing approach, and it can lead to significant improvements in the company’s overall performance.
Habits Of A Good B2B Marketer
If you are involved in a marketing role within the B2B environment, what habits of a good B2B marketer help you to progress as you strive for promotion. The following 4 factors have been identified
- Go the extra mile – being seen to do and try more is a key factor
- Have a pragmatic and flexible approach in how you operate
- Have great communication skills which should include listening, verbal and written
- Make sure colleagues, the industry, others know how active you are (this might involve you blowing your own trumpet)
What Skills Does A Good B2B Marketer Need
- Strategy and general business skills are essential – its critical you understand the numbers
- At board level specialist marketing tactical skills are largely irrelevant
- You need to know enough about marketing to be dangerous, these could have been gained through formal marketing qualifications
- Note from research conducted higher achieving marketers take 50% more external training
Habits Of A Good B2B Marketer – Invest In Your Personal Brand
- Unfortunately you need to get active on social media. in B2B this will most likely involve LinkedIn, though instagram, twitter and facebook may also be relevant. As with all social media choose your platform carefully
- If possible you should get speaking engagements – this ties in with getting noticed and recognised as being active
- ABC – Always Be Connecting
- A curious approach to latest trends and techniques
- Speak the common sense language of business and don’t get tied up in talking business bingo
- Have drive and empathy – the ability to engage with other business disciplines is essential
- A willingness to pivot i.e. be flexible and prepared to adapt
- Exercise calmness under pressure – high performing marketers don’t flap
An SME (Small and Medium-sized Enterprise) manufacturer can employ several marketing transformation approaches to foster business growth. Here are some strategies they can consider:
- Digital Marketing: Embrace digital platforms to reach a wider audience and improve brand visibility. This can include tactics such as creating a professional website, optimizing it for search engines (SEO), engaging in social media marketing, running online advertising campaigns, and leveraging email marketing to nurture customer relationships.
- Content Marketing: Produce valuable and relevant content that educates and engages potential customers. This could involve creating blog posts, articles, videos, infographics, or case studies that showcase the expertise and capabilities of the SME manufacturer. Sharing this content on various platforms can attract prospects and establish the company as a thought leader in its industry.
- Customer Relationship Management (CRM): Implement a CRM system to manage customer interactions and data effectively. This allows the SME manufacturer to track customer preferences, analyze buying behavior, and tailor marketing efforts accordingly. A CRM system can also help automate sales processes, enhance customer service, and enable personalized marketing campaigns.
- E-commerce and Online Sales: Establish an online store or e-commerce platform to enable customers to purchase products directly from the SME manufacturer. This widens the market reach beyond local boundaries and provides convenience for customers. Additionally, integrating secure payment gateways and providing excellent online customer support are crucial aspects of successful online sales.
- Partnerships and Collaborations: Seek strategic alliances with complementary businesses or influencers in the industry. By partnering with distributors, retailers, or other SMEs, the manufacturer can expand its distribution network, access new markets, and leverage each other’s customer bases. Collaborating with influencers or industry experts can also help raise brand awareness and credibility.
- Data Analytics and Market Research: Leverage data analytics tools and market research to gain insights into customer behavior, market trends, and competitors. This information can guide decision-making, enable targeted marketing campaigns, and identify opportunities for innovation or product diversification. Regularly analysing marketing metrics and adjusting strategies based on the data is vital for continuous improvement.
- Customer Experience Enhancement: Prioritise customer satisfaction by focusing on the overall customer experience. This involves delivering high-quality products, providing excellent customer support, streamlining order processes, and actively seeking feedback for improvement. Satisfied customers can become brand advocates and contribute to positive word-of-mouth marketing.
- Branding and Differentiation: Develop a strong brand identity and value proposition that sets the SME manufacturer apart from competitors. Effective branding includes creating a compelling brand story, designing a memorable logo and visual identity, and consistently communicating the brand message across all marketing channels. Emphasizing unique selling points and showcasing the SME’s expertise can help differentiate it in the market.
- Training and Upskilling: Invest in training programs for marketing and sales teams to enhance their skills and keep them updated with the latest industry practices. This empowers employees to develop effective marketing strategies, utilize digital tools, and deliver exceptional customer experiences. Continuous learning ensures that the SME manufacturer remains competitive in a rapidly evolving marketing landscape.
Remember, each SME manufacturer’s situation is unique, so it’s crucial to assess the business’s specific needs, goals, and target audience while implementing these marketing transformation approaches.
If you would like to know more about marketing transformation contact Andrew Goode MBA, MSc, FCIM Click here to arrange a call
Other articles linked with marketing metrics that may provide additional insight. Marketing metrics and analytics, marketing ROI Planning , marketing revenue analytics and Marketing Measurement Metrics