Defining and measuring marketing objectives is one of the first steps in any marketing strategy. Without clearly identifying marketing processes, goals, and methods, it is not possible to measure marketing effectiveness. Elements of On-Demand Marketing and measurement. There is now a novel approach to think of marketing, powered by quantitative data and insights. On-Demand Marketing is the field through which businesses effectively orchestrate consumer engagement and thereby give rise to higher levels of pipeline saturation.
It is also useful to define marketing as a subset of the whole. In marketing, we are primarily concerned with demand generation - meeting the needs and expectations of the target audience in measurable quantities. For example, talking about a product on a Spotify podcast can be a great marketing tool to increase brand awareness and create demand. The aim there is to get Spotify followers to become aware of the product and its various advantages.
Marketing is therefore different from advertising in that advertising tends to be "selective" - only appealing to the chosen target audience. Marketing on the other hand attempts to create an environment that is demanding for the target audience - one that requires that you respond to the market demands in a manner that is beneficial to you and your customers. To do this, the marketing strategy must be tightly linked to product capabilities and competitive positioning in order to deliver value to customers.
A powerful tool for improving market position is the ability to create "adversarial" relationships with previously unconcerned parties. Adversarial relationships, sometimes called "adversary contacts," are key to creating and maintaining a steady flow of prospects and clients, resulting in increased on-demand marketing.
Adversarial contacts are key to a successful on-demand marketing function because they allow the marketer to respond to the changing needs of the marketplace by creating an environment whereby the previously unconcerned party becomes more responsive to the marketer's offerings. Adversary contacts are also useful in helping to ensure that the marketer's message is delivered in a timely fashion.
There are a number of methods for establishing demand. One was already mentioned above in getting the Spotify followers example. Advertising, for example, is often the most reliable way to create demand. The cost of this form of on-demand marketing is relatively low because it is short-term and is typically based on word of mouth Advertisers, therefore, have a relatively flexible definition of what constitutes "demand," which makes advertising one of the most reliable means of creating demand.
On the other hand, there are many methods marketers use to identify potential customers and prospects. Marketers may conduct market research using surveys, focus groups, or focus groups that are off the record. Marketers may send out unsolicited mail, use face-to-face communication, or make direct contact with potential customers at work, at home, or on the phone.
Social media has also played a role in on-demand marketing strategies because some marketers view social media as an effective way of connecting with previously unreached audiences. These marketers believe that social media provides a means of engaging previously isolated audiences who may be interested in the product or service they are marketing.
Marketers also often rely on quantitative analyses of marketing programs, such as this. KPIs refer to aspects of marketing that are directly related to the quality of the marketing system, such as customer satisfaction or customer turnover. Common aspects of KPI analysis include customer retention, return on investment, cost per sale, and cost per action. These key questions help marketers focus on elements within a marketing system that could affect both its success and profitability.
Lead generation is another form of on-demand marketing. The term "lead generation" is sometimes used interchangeably with "marketing." Leads are the names or telephone numbers of people who potentially want to purchase a product or service. Some forms of lead generation are more direct, such as list building, whereas other forms are less direct, such as survey collection. Depending on the type of marketing being employed, it may focus on capturing a specific segment of the audience, such as a particular age range, income level, gender, educational attainment, marital status, and so on.
There are many factors that go into on-demand marketing, including key questions and lead generation. By tracking these elements, companies gain a better understanding of what types of marketing work best for their business.
For eCommerce businesses, it is especially important to track the return on marketing investments. Through demand generation and eCommerce analytics, companies can measure the effectiveness of their eCommerce strategies and find areas where improvements are needed. This can be the key to eCommerce success.
