Being a leader of a consumer brand is both thrilling and challenging. The digital marketing opportunities to reach a global audience have never been greater. But this newfound accessibility comes with trade-offs.
Consumers have an uncanny ability to tune out noise and distractions. Brands face an uphill battle to break through the clutter and leave a lasting impression.
The marketplace is evolving at breakneck speed. Ecommerce leaders are grappling with the constant emergence of new players, the shifting tides of consumer behavior, the rising costs of cpcs and the battle for market share.
And yet, expectations to drive growth and profitability have only increased.
Despite these challenges, there are reasons for optimism.
In this blog, you’ll discover four actionable digital marketing opportunities to help your brand achieve sustained profitable growth:
- Streamline audience segmentation
- Spend only what you must to achieve your goals
- Unlock the potential of Performance Max and Google Shopping
- Establish an upper-funnel presence
In our white paper, 6 Digital Marketing Opportunities Most Consumer Brands Miss, you can dive deeper into these crucial strategies and uncover additional opportunities that your competitors aren’t capitalizing on. To start discovering untapped growth that is awaiting your brand, download the white paper now!
Digital Marketing Opportunity #1: Streamline Audience Segmentation
Picture this: Your teams work tirelessly to create and execute campaigns across various channels. But amidst the flurry of activity, you fail to realize that some of these segments may be too closely related to merit separate targeting.
Why so many brands miss it: Inefficient segmentation often results from working with multiple agencies simultaneously. As different agencies operate in silos, it becomes challenging to maintain a cohesive targeting approach. This leads to missed opportunities for impactful, optimized campaigns.
Risks: Without the precision of streamlined segmentation, brands squander valuable resources. This inefficiency drains your budget and diminishes your ROI.
Action item: Begin your strategy by defining your audiences. Then, align your marketing efforts with the appropriate channels or tactics. Complement your refined targeting with unique messaging and creative that resonates with each segment.
Streamlining audience segmentation is a game-changer. By thoughtfully defining your audiences and aligning your marketing efforts, you open the door to greater efficiency and impact.
Digital Marketing Opportunity #2: Spend Only What You Must to Achieve Your Goals
“More is more” may resonate in boardrooms and marketing meetings. But exorbitant spending doesn’t always lead to optimal results.
Successful brand strike the perfect balance between investment and returns.
By embracing a lean and strategic spending approach, your brand can create ample opportunities to expand into new frontiers rather than expending resources to get smaller gains within familiar territory.
Why so many brands miss it: Many brands lack the critical insights and analysis necessary to overcome the “more is more” mindset and optimize their spend effectively.
Risks: Without a clear understanding of where to streamline and adjust, brands often overspend on marketing efforts that could yield equally successful results with a strategic approach. As a result, leaders are left with less room for growth, innovation, and sustained success.
Action item: Leverage advanced analytics and data-driven tools that provide real-time insights into the ROI of your marketing efforts. By visualizing this crucial data on a regular basis, you can make informed decisions about where to allocate your budget so that every dollar you invest yields maximum return.
While “spending money to make money” has its merits, a nuanced approach that considers diminishing returns, market dynamics, and the value of new opportunities will ensure that your brand achieves short-term objectives while being positioned for long-term success.
Digital Marketing Opportunity #3: Unlock the Potential of Performance Max & Google Shopping
Performance Max and Google Shopping can be game-changers for consumer brands, but many leaders remain hesitant to embrace them due to lackluster results.
Why so many brands miss it: Brands often shy away from these tactics due to a combination of poor data quality and a fear of ceding control to Google. Without a well-crafted strategy and a comprehensive understanding of these tactics, you may find it challenging to fully tap into your brand’s potential.
Risks: By not committing to Performance Max and Google Shopping, you may miss out on the opportunity to achieve over 50% of your account spend and revenue at an optimal ROI.
Action item: Select a strategic partner equipped with world-class expertise in feed management and skilled execution of a paid media strategy. With the right guide, your brand can navigate the intricacies of these tactics and increase your likelihood of success.
Performance Max and Google Shopping are tactics that vex many consumer brands. By aligning with skilled experts in feed management and paid media, you can watch lackluster results turn into substantial increases in growth and profitability.
Digital Marketing Opportunity #4: Establish an Upper-Funnel Presence
While it’s tempting to focus solely on immediate conversions and lower-funnel tactics, the power of building a strong upper-funnel presence can’t be underestimated.
By investing in brand marketing and creating a compelling narrative around your products, you can give your brand a crucial edge to drive lower-funnel results.
Why so many brands miss it: Humans are biased toward things that bring results today. But a sole focus on short-term gains often leads marketers to overlook how their upper-funnel strategies impact the sustainability of their lower-funnel programs.
Risks: By neglecting to invest in upper-funnel marketing, brands confine themselves to the relentless competitive rat race of performance marketing. In an era when capturing consumers’ attention is increasingly expensive, relying only on lower-funnel tactics becomes financially unsustainable, hinders your potential for substantial growth, and jeopardizes your long-term success.
Action item: Strike a balance between upper- and lower-funnel tactics so that you can both capture immediate conversions and foster long-term brand loyalty. Building brand awareness and loyalty takes time and consistent effort, so patience and perseverance are key. Remember that upper-funnel strategies like content marketing, influencer partnerships, and social media require thoughtful execution and alignment with your brand’s values and identity.
While the immediate impact promised by lower-funnel tactics is appealing, leaders must be mindful of the symbiotic relationship between upper- and lower-funnel tactics. Embracing both types of strategies positions leaders to deliver profitable, sustainable growth.
Book a Meeting to Explore Digital Marketing Opportunities
Take your brand where it’s meant to go. The experts at ROI Revolution provide digital strategy and performance marketing services that guide brands to accelerated profitable growth.
To explore the untapped opportunities for profitable growth that we can discover together, book a meeting with our team today.
Navigating this ever-changing landscape can be overwhelming for leaders, especially with a myriad of other responsibilities on their plate. To explore the four strategies discussed here in more depth, plus discover two crucial bonus strategies, download our white paper, 6 Digital Marketing Opportunities Most Consumer Brands Miss.
