Change is the only constant in the world of digital marketing. Gone are the days when marketers could compartmentalise their efforts into separate silos for search, video, and social media. The introduction of artificial intelligence (AI) has ushered in a new era of marketing, one that thrives on agility and adaptability. In this series, we will delve deeper into the world of agile marketing, drawing insights from the experiences of 2,400 marketers. Let’s explore three key principles that can transform your marketing strategy and elevate your brand in this dynamic digital age.
Plan Strong, Hold Loose: The Agile Marketing Approach
The core tenet of agile marketing is not about discarding planning; rather, it’s about embracing adaptable planning. Agile marketers understand the importance of structure and strategy. They dedicate time each month to review performance metrics and set goals for the short term (monthly), medium term (3-month and 6-month), and long term (yearly). A well-crafted marketing strategy encompasses more than just selecting marketing channels and allocating budgets. It involves crafting a cross-channel marketing strategy that builds a comprehensive marketing funnel.
However, what sets agile marketing apart is the readiness to pivot when necessary. In the agile world, advertising budgets are not set in stone. Weekly amendments to budgets are a common practice. These changes may be channel-specific or, at times, cross-platform, driven by the need to optimise performance and achieve marketing objectives.
Consumer behaviours and preferences change rapidly in today’s digital landscape. Trends shift with each passing news headline. Agile marketers are keenly attuned to these shifts and respond promptly to maintain peak performance. For instance, when consumer behaviour transitions from casual browsing to active purchasing, this shift is reflected in search volumes and social media click-through rates. Agile marketers are quick to reallocate budgets to capitalise on these trends.
The results speak for themselves: 48% of marketers have reported that agile marketing has exceeded their expectations, compared to just 33% of marketers who adhere to fixed marketing budgets. Furthermore, 58% of agile marketers have successfully created more cross-channel touchpoints, amplifying their brand presence and engagement.
Invest in Specialisation without Sacrificing Collaboration
Agile marketing necessitates specialisation in specific marketing channels. Marketers who hone their expertise in particular channels can significantly enhance channel performance and maximise return on investment. Many companies opt to partner with marketing agencies to tap into specialised knowledge.
While specialisation is crucial, agile marketing also underscores the importance of collaboration among specialised marketers. To extract maximum value from different marketing channels at various stages of a campaign, marketers must work in close coordination. Agile marketing teams are twice as likely to describe their cross-channel efforts as “very tightly integrated.”
Marketing agencies, with their wealth of experience and creative acumen, can play a pivotal role in fostering agile marketing methodologies within companies. In fact, 42% of agile marketers credit their agency partners with pushing them toward a results-first approach, leading to improved collaboration and outcomes.
A case in point is L’Oréal Vietnam, which harnessed agile marketing to broaden its customer base during peak sales seasons and boost online sales. During the 12.12 mega sales campaign, the adoption of agile marketing principles led to a remarkable fourfold increase in return on investment.
Build Experimentation into Business as Usual: The Agile Mindset
In today’s fast-paced and ever-changing marketing landscape, the ability to strike a delicate balance between investing in proven strategies and funding experiments that unearth new opportunities is a hallmark of agile marketing success. Marketers who can strike this balance are well-positioned for long-term growth.
In times of uncertainty, the natural inclination for many businesses is to tighten their belts and reduce marketing budgets. However, agile organisations often take a different approach. They use data analytics to inform their marketing investment decisions and, in the face of uncertainty, they may even increase their marketing spending. This calculated move enables them to seize market share while competitors scale back their efforts.
When formulating marketing strategies with their teams, forward-thinking businesses allocate a contingency budget. This financial cushion provides the flexibility to capitalise on emerging opportunities, which, in turn, can yield superior performance.
Summary
Agile marketing is not a mere buzzword; it’s a strategic approach that has reshaped the digital marketing landscape. By striking a balance between structured planning and adaptability, investing in specialisation while fostering collaboration, and integrating experimentation into their core operations, businesses can harness the full potential of agile marketing. The era of digital marketing is dynamic, and agile marketing is the compass that guides brands to navigate this ever-evolving terrain successfully.
