In Engagement Marketing, brands face both obstacles and opportunities.
Over the next few years, the recent procession of “black swan” events will continue to transform marketing. New retargeting technologies will replace the third-party cookie. Crypto, NFTs, and the Metaverse will continue to gain wider utility. Regulators and privacy advocates will demand more transparency in data usage. Change will continue at a pace even the most sophisticated marketers will struggle to maintain.
To help navigate these rapid changes, we have identified four potential futures or “paths” along which marketers will travel over the next few years. These four paths align along a pair of continuums:
Marketing Continuum
A marketing continuum ranging from intrusive marketing (in which the marketer engages only in short-term promotions with no interest in or ability to build long-term customer relationships) to reciprocal marketing (in which marketers deliver recognition and rewards to customers who respond with increased engagement and brand loyalty).
Data Continuum
A data continuum ranging from low data control (in which the marketer is forced into short-term or scattershot marketing efforts due to a lack of customer-centric data) to high data control (in which the marketer has effectively collected and actioned customer-centric data).
The intersection of these two continuums creates four potential marketing paths that marketers must successfully navigate. Whether by strategic choice or through capability limitations, the marketing efforts of every consumer brand will follow one of these four paths (see visual).
While each of these paths may be a valid choice for any particular brand, we believe that intelligence-based offers are the most reliably effective and affordable path for marketers.
In a series of four, we’ll discuss the strategies/marketing trends that will present both obstacles and opportunities for marketers who choose to follow this path.
- Earned data
- Dynamic personalization
- Immediate value
- Fluid loyalty
In these, we’ll dive into the back story and share best practices to combat the challenging and competitive landscape that puts engagement marketing front and center.