Marketers worldwide know that the dynamics of business have changed, and that the customer journey from awareness, to consideration, to purchase, to loyalty is no longer linear and manageable. They also increasingly use the marketing technologies and platforms that can automate many of their processes, and engage customers and prospects efficiently and effectively at scale.
In Asia, the marketing technology wave has not yet broken, but it is coming. Marketing automation is growing faster in Asia Pacific than anywhere else in the world, up 51% over the last 4 years. Software as a Service (SaaS) sales in this region is estimated to be growing at more than 20% a year, with vendors such as Oracle, and platforms such as LinkedIn Marketing Solutions, reporting big jumps in usage and revenue.
Business practices that are on their way to being mainstream in Silicon Valley, London – and increasingly Australia – are only just emerging here in Asia. Most marketers in Asia are deploying a small percentage of the tools and resources available, and those who do often use just a fraction of the capability these technologies and platforms offer. It’s like owning a Ferrari and using it to drive to the 7-11!
The phrase “Modern Marketing” describes the systematic use of software, data-driven insights, and campaigns with compelling content to engage and track customers throughout the sales cycle. One approach to becoming modern is to adopt bits-and-pieces for incremental success. It’s another thing entirely to be AWESOME and transform the way you do marketing.
That requires more than just signing up for some software – it requires a comprehensive look at your people, processes, content and technologies. Only when all of the parts are brought together to work as a system can you recognize the quantum benefits of modern marketing.
So what does AWESOME look? Here’s a checklist of the elements for success in Asia. How many of these practices has your business adopted, and are they integrated into a scalable, efficient discipline that generates leads, drives sales, increases revenue per transaction, and retains customers?
What AWESOME looks like:
It’s OK to not be AWESOME – for now. Most companies are on a journey to move from campaign-focused digital marketing to becoming true digital businesses. This process is hard, expensive, and takes time. To get to AWESOME, marketing departments must change the way they operate, secure significant funding and staff resources from management, and demonstrate they can drive sales and increase profitability.
This track record cannot be built overnight, and the whole transformation is hard, as it requires an occasionally mystifying combination of people, processes, content and technologies. And there are numerous sticking points along the way: campaigns that fail, opportunities lost, customer complaints, technology glitches, privacy concerns and dozens more obstacles need to be vaulted.
Perseverance pays off, however, with stronger competitive advantage, demand generation, and business results that earn Modern Marketers the position they deserve in their organisations.
Image sources: icdn2.digitaltrends.com, italialiving.com, vapartners.ca, oliver-grundmann.de
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