Digital Analytics Trends
In the article, 5 digital analytics trends for 2024 by Contentsquare, one of their predictions is ROI (Return on Investment) on CX (Customer Experience. As AI (Artificial Intelligence) and big data continue to grow, so will the need to measure the impact of how CX optimizations work their ROI on marketing campaigns.
Defining Key Performance Indicators
The importance of defining key performance indicators (KPIs) that align with an organization's business goals is detrimental to any business or organization. They can be either tactical or visionary KPIs. The visionary KPI is what your company wants to achieve with big goals and defined metrics.
The Importance of Considering the Needs of Multiple Departments
The whole purpose of the hub-and-spoke method in marketing is to “help break down silos by organizing current tools, processes, and people around useful information derived from data” (Jackson, 2015). This not only improved business processes, but also encourages more internal collaboration.
Marketing Objectives
The most prominent purpose of a business is to make profits; everyone knows that! However, passion, purpose, and profits can also coexist in a positive way with the right amount of marketing. Without the use of marketing objectives, companies can become lost, unorganized, and lose motivation.
Market Segmentation
Two segmentation methods that can help a marketer define a target market are demographic and psychographic segmentation. Demographics provide marketers with more information about their ideal customers, including age, gender, location, socioeconomic background, income level, family situation, religion, ethnicity, occupation, and job title.
Consumer Engagement: Victoria’s Secret
Victoria’s Secret is a well-known fashion brand that has faced many ethical or legal issues in the past. Over the years, the brand has undergone many changes in how it is perceived by consumers. Some questions to ask: What were the ultimate implications for the brand? What should the brand have done differently, and why?