Successful business practices are often derived from viewing the business from the customer’s perspective. However, per McKinsey and Company, many companies struggle with this concept because of the overwhelming focus on individual touchpoints, rather than the beginning-to-end customer journey. This is understandable, as most companies aren’t naturally wired to think about the journey, or don’t have the resources or the time to sufficiently tackle it, so they may prioritize improvements to individual touchpoints, such as a customer service phone call over addressing the entire thing.
We’re big fans of learning directly from our customers at Hindsight. Since launching the company, we’ve had hundreds of conversations with marketers at startups all the way up to fortune 500 companies. These conversations have been an amazing way to learn firsthand about the problems that marketers face day in and day out.
One topic that always come up is the debate between demographic and behavioral information. Which one is more important? Which one is more actionable? Which would I prefer to have as a marketer?
Prospecting for new customers is hard enough, especially when you realize that not all site traffic is good traffic. Even before that visit, may come a click on one of your ads, meaning that not all clicks are good clicks. If that’s the case, why is so much focus placed on click-through rates for prospecting campaigns?
Well, put simply, focusing on click-through rates will lead to poor business outcomes in display prospecting campaigns, as there is little to no correlation between click-through rates and conversion rates.
If you’re a marketer, there’s one less thing you have to try and solve for: according to Harvard Business Review contributors Marc de Swaan Arons and Frank van den Driest, it’s possible–dare I say easy–to create the ultimate marketing machine.
The results of Marketing2020, the most comprehensive leadership survey taken to date, make it clear that in this day and age, marketing is no longer a discrete entity. Instead, marketing is intertwined with nearly every other function which allows the company to present a unified brand image.