Connect with us

MARKETING

What marketers need to know to prepare for 2023

Published

on

What marketers need to know to prepare for 2023

Well, friends, it’s that time of year again. If you’re a retailer, I hope you’re hanging in there, all your campaigns are going according to plan, and the screaming-down-the-hall moments are few and far between.

This also is the season when anyone with a blog, a column or a webinar will start predicting what will happen in marketing in 2023. I’m not immune to that, but I’m also honest enough to admit nobody really has a clue right now. 

There’s so much we don’t know about what will happen in the next 12 months. One thing is for sure: We definitely can look forward to many twists and turns in the online space and the real world — again. 

So, instead of predicting, I’m going to look at what marketers should remember as they plan for 2023. I hope my insights will give you some direction, help you set some goals and put you in the right frame of mind in the next five minutes before somebody comes down the hall to request another Black Friday email campaign.

A global recession is coming

No matter what American politicians say, a recession isn’t just a U.S. concern. It’s happening everywhere. It poses another challenge for email. But email can rise to meet it, just as it emerged as a winner in the COVID-19 pandemic. 

Advertisement

I’m a big believer in staying informed whether it means reading marketing, economic and political news or keeping an eye on the five screens in my office, each of which streams different information. So I’ve been on top of news stories reporting that some companies are already pulling back some ad spend. Others are investing in processes now to get ahead should we hit recessionary headwinds. 

Because email proved its value in the pandemic, I don’t expect email budgets will get eviscerated to fund other channels. But we’ll test the concept that email is still recession-proof. 

That doesn’t mean email will emerge unscathed. But we email marketers should get ready for a different kind of challenge. Companies could go back to their pandemic tactics, in which they invested in email to keep customers informed and build authentic relationships. Or they could revert to their business practices in the 2008 recession and just discount everything in a mission to save revenue targets.

We’re dealing with a lot of uncertainty right now. We could be in a recession that in some parts of the world doesn’t even look like a recession because of high job growth, even with a higher-than-normal inflation rate.

So now we have to look at how email can live up to its recession-proof reputation. Our twin challenges will be the evolving state of the global economy and how we can adapt email to survive. 

The email channel itself will survive. What remains to be seen is whether we can retain the primacy email has gained.

Advertisement

Dig deeper: 5 email marketing lessons learned in the pandemic

Segmentation will help increase revenue from inflation-weary customers

Consumers pulled back on spending during the pandemic. Now, inflation is driving similar cutbacks. Reduced consumer spending puts even greater pressure on email marketers to perform.

Retailers are responding to their bargain-hunting customers by launching holiday campaigns even earlier this year. I saw many campaigns in early October that I would normally expect to see closer to November. 

Consumer spending predictions are all over the board this year, too. The most optimistic say holiday spending will rise 4% to 6% over 2021, while others expect consumers will either hold the line or spend less. 

I expect retailers will pull the usual levers to capture more holiday spending — heavier discounting, higher email frequency or some other tactics. But instead of pulling on those levers indiscriminately, marketers should rethink and revise their list segmentation to keep revenue flowing reliably. 

Segmentation represents an untapped market across the board for motivating and incentivizing consumers to spend their money with you instead of your competitors.

Advertisement

Segmentation comes into play with the customer data platforms (CDPs) and advanced analytical tools. Email marketers can use these tools to fight both recession-driven budget cutbacks and reduced consumer spending.

Use what you learn about your customers — what works and what doesn’t — to support requests for resources to support segmentation and win higher priority in the marketing tech stack. 

Although marketers worldwide might encounter a global recession in 2023, lower consumer spending could finally force us to become smarter marketers, not just “more” marketers.


Get MarTech! Daily. Free. In your inbox.

Advertisement


The pressure will be on CDPs to prove value

Customer data platforms, or CDPs, have been around for a while, but they’re just now moving into the reach of middle-level brands and full implementation at the enterprise level. But we still don’t know whether they’re the savior for data-driving marketing or the latest shiny object.

In 2023, I expect we’ll see the proof point for CDPs and whether we as email marketers can use them to transform our email campaigns into messages that elevate the customer conversation. 

Vendors have sold CDPs as the gateway to customer intent, purchase propensity and data orchestration. Next year, we will see whether CDPs bridge the gaps between data lakes and CRMs, resulting in more intelligent marketing and boosting messaging automation, targeting and personalization.

But this move also could end up shifting priorities away from email. Historically, email has been stuck at the far end of the investment dinner table, waiting to see what’s left on the platter when it finally reaches us. 

Advertisement

We might learn that CDPs do give us easier access to data for segmentation and personalization. Or we could find out that the money companies spend on installing them is wasted without the data, technical structure or know-how to manage them.

Dig deeper: How to manage email addresses in a customer data platform

Martech stacks will get a lot more scrutiny

This year, my agency was insanely busy working with both long-term and new clients on their tech stacks. Not just their email platforms, but all of their adjacent and connected systems.

Many of these clients were unhappy with their technology and asked us to find new vendors or move to new ones. 

We all know how the pandemic accelerated digital transformation. Your tech stack might be a casualty if it hasn’t kept up with the changes. I heard clients say, “We aren’t agile enough.” 

Or, “This platform doesn’t help make us smarter.” 

Advertisement

Even, “This platform isn’t complex enough for all of our needs now.”

Some companies outgrew their systems, too. The pandemic forced them to react faster and communicate better with customers, employees and stakeholders and forced many to push their systems beyond their limits. 

Today, many of our clients want technology that’s better, faster, more complex and more capable to meet their needs because they have evolved and need support that can meet them where they are now.

I expect more companies will examine whether they have the right technology and look to see what else is out here and what they can get to meet their new demands.

As part of this re-examination, we also will see companies using more of the technology they’re already paying for.

Maybe you saw Gartner’s study that found companies use only an average of 42% of their tech stack capabilities, a figure that’s actually down from a slightly less dismal 58% in 2020. 

Advertisement

When I worked at Responsys, we found platform usage was actually closer to 10%. Back then (I’m older — “then” was 2007), marketers didn’t know how to use all the advanced features, many of which are standard equipment today.

If you’re dissatisfied with your tech stack, figure out whether it truly doesn’t meet your needs anymore or you just haven’t used all of its capabilities.

Before you start looking for new tech providers, go to your vendors and ask them to show you their latest demos. They’ll be happy to do it. Challenge your providers to show you what you should be using but aren’t yet. You’ll understand your tech capabilities and limits much better.

Dig deeper: The secret to building a useful martech stack

Looking to the future

As usual, I could be full of crap. Not about asking your vendors to audit your tech use — that’s always good advice — but for everything else, it’s what I’m seeing in my work, in the news and in talking with other marketers. 

Plus, I’ve been through a recession, COVID, the birth and evolution of the internet, the Amazon wave, consolidation in the email space and so much more. That also informs my views about what will happen. 

Advertisement

My focus is always on marketers and what they need to think about when planning for the coming year. 

So let’s get back to it and knock out the rest of our 2022 plans. Don’t forget to celebrate with your team, whether by taking them out for drinks and dinner or supporting your remote staffers. 

Tune in next month for my annual December motivation and year-end reviews!


Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.



About The Author

Advertisement
Ryan Phelan

As the co-founder of RPEOrigin.com, Ryan Phelan’s two decades of global marketing leadership has resulted in innovative strategies for high-growth SaaS and Fortune 250 companies. His experience and history in digital marketing have shaped his perspective on creating innovative orchestrations of data, technology and customer activation for Adestra, Acxiom, Responsys, Sears & Kmart, BlueHornet and infoUSA. Working with peers to advance digital marketing and mentoring young marketers and entrepreneurs are two of Ryan’s passions. Ryan is the Chairman Emeritus of the Email Experience Council Advisory Board and a member of numerous business community groups. He is also an in-demand keynote speaker and thought leader on digital marketing.

Advertisement

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

MARKETING

How To Develop a Great Creative Brief and Get On-Target Content

Published

on

How To Develop a Great Creative Brief and Get On-Target Content

Every editor knows what it feels like to sit exasperated in front of the computer, screaming internally, “It would have been easier if I’d done it myself.”

If your role involves commissioning and approving content, you know that sinking feeling: Ten seconds into reviewing a piece, it’s obvious the creator hasn’t understood (or never bothered to listen to) a damn thing you told them. As you go deeper, your fingertips switch gears from polite tapping to a digital Riverdance as your annoyance spews onto the keyboard. We’ve all been there. It’s why we drink. Or do yoga. Or practice voodoo.

In truth, even your best writer, designer, or audiovisual content creator can turn in a bad job. Maybe they had an off day. Perhaps they rushed to meet a deadline. Or maybe they just didn’t understand the brief.

The first two excuses go to the content creator’s professionalism. You’re allowed to get grumpy about that. But if your content creator didn’t understand the brief, then you, as the editor, are at least partly to blame. 

Advertisement

Taking the time to create a thorough but concise brief is the single greatest investment you can make in your work efficiency and sanity. The contrast in emotions when a perfectly constructed piece of content lands in your inbox could not be starker. It’s like the sun has burst through the clouds, someone has released a dozen white doves, and that orchestra that follows you around has started playing the lovely bit from Madame Butterfly — all at once.

Here’s what a good brief does:

  • It clearly and concisely sets out your expectations (so be specific).
  • It focuses the content creator’s mind on the areas of most importance.
  • It encourages the content creator to do a thorough job rather than an “it’ll-do” job.
  • It results in more accurate and more effective content (content that hits the mark).
  • It saves hours of unnecessary labor and stress in the editing process.
  • It can make all the difference between profit and loss.

Arming content creators with a thorough brief gives them the best possible chance of at least creating something fit for purpose — even if it’s not quite how you would have done it. Give them too little information, and there’s almost no hope they’ll deliver what you need.

On the flip side, overloading your content creators with more information than they need can be counterproductive. I know a writer who was given a 65-page sales deck to read as background for a 500-word blog post. Do that, and you risk several things happening:

  • It’s not worth the content creator’s time reading it, so they don’t.
  • Even if they do read it, you risk them missing out on the key points.
  • They’ll charge you a fortune because they’re losing money doing that amount of preparation.
  • They’re never going to work with you again.

There’s a balance to strike.

There’s a balance to be struck.

Knowing how to give useful and concise briefs is something I’ve learned the hard way over 20 years as a journalist and editor. What follows is some of what I’ve found works well. Some of this might read like I’m teaching grandma to suck eggs, but I’m surprised how many of these points often get forgotten.

Who is the client?

Provide your content creator with a half- or one-page summary of the business:

Advertisement
  • Who it is
  • What it does
  • Whom it services
  • What its story is
  • Details about any relevant products and services

Include the elevator pitch and other key messaging so your content creator understands how the company positions itself and what kind of language to weave into the piece.

Who is the audience?

Include a paragraph or two about the intended audience. If a company has more than one audience (for example, a recruitment company might have job candidates and recruiters), then be specific. Even a sentence will do, but don’t leave your content creator guessing. They need to know who the content is for.

What needs to be known?

This is the bit where you tell your content creator what you want them to create. Be sure to include three things:

  • The purpose of the piece
  • The angle to lead with
  • The message the audience should leave with

I find it helps to provide links to relevant background information if you have it available, particularly if the information inspired or contributed to the content idea, rather than rely on content creators to find their own. It can be frustrating when their research doesn’t match or is inferior to your own.

How does the brand communicate?

Include any information the content creators need to ensure that they’re communicating in an authentic voice of the brand.

  • Tone of voice: The easiest way to provide guidance on tone of voice is to provide one or two examples that demonstrate it well. It’s much easier for your content creators to mimic a specific example they’ve seen, read, or heard than it is to interpret vague terms like “formal,” “casual,” or “informative but friendly.”
  • Style guide: Giving your content creator a style guide can save you a lot of tinkering. This is essential for visuals but also important for written content if you don’t want to spend a lot of time changing “%” to “percent” or uncapitalizing job titles. Summarize the key points or most common errors.
  • Examples: Examples aren’t just good for tone of voice; they’re also handy for layout and design to demonstrate how you expect a piece of content to be submitted. This is especially handy if your template includes social media posts, meta descriptions, and so on.

All the elements in a documented brief

Here are nine basic things every single brief requires:

  • Title: What are we calling this thing? (A working title is fine so that everyone knows how to refer to this project.)
  • Client: Who is it for, and what do they do?
  • Deadline: When is the final content due?
  • The brief itself: What is the angle, the message, and the editorial purpose of the content? Include here who the audience is.
  • Specifications: What is the word count, format, aspect ratio, or run time?
  • Submission: How and where should the content be filed? To whom?
  • Contact information: Who is the commissioning editor, the client (if appropriate), and the talent?
  • Resources: What blogging template, style guide, key messaging, access to image libraries, and other elements are required to create and deliver the content?
  • Fee: What is the agreed price/rate? Not everyone includes this in the brief, but it should be included if appropriate.

Depending on your business or the kind of content involved, you might have other important information to include here, too. Put it all in a template and make it the front page of your brief.

Prepare your briefs early

It’s entirely possible you’re reading this, screaming internally, “By the time I’ve done all that, I could have written the damn thing myself.”

But much of this information doesn’t change. Well in advance, you can document the background about a company, its audience, and how it speaks doesn’t change. You can pull all those resources into a one- or two-page document, add some high-quality previous examples, throw in the templates they’ll need, and bam! You’ve created a short, useful briefing package you can provide to any new content creator whenever it is needed. You can do this well ahead of time.

I expect these tips will save you a lot of internal screaming in the future. Not to mention drink, yoga, and voodoo.

Advertisement

This is an update of a January 2019 CCO article.

Get more advice from Chief Content Officer, a monthly publication for content leaders. Subscribe today to get it in your inbox.

HANDPICKED RELATED CONTENT: 

Cover image by Joseph Kalinowski/Content Marketing Institute

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

Quiet Quitting vs. Setting Healthy Boundaries: Where’s The Line?

Published

on

Quiet Quitting vs. Setting Healthy Boundaries: Where's The Line?

In the summer of 2022, we first started hearing buzz around a new term: “Quiet quitting“.

(more…)

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

Microsoft unveils a new small language model

Published

on

Microsoft unveils a new small language model

Phi-3-Mini is the first in a family of small language models Microsoft plans to release over the coming weeks. Phi-3-Small and Phi-3-Medium are in the works. In contrast to large language models like OpenAI’s ChatGPT and Google’s Gemini, small language models are trained on much smaller datasets and are said to be much more affordable for users.

We are excited to introduce Phi-3, a family of open AI models developed by Microsoft. Phi-3 models are the most capable and cost-effective small language models (SLMs) available, outperforming models of the same size and next size up across a variety of language, reasoning, coding and math benchmarks.

Misha Bilenko Corporate Vice President, Microsoft GenAI

What are they for? For one thing, the reduced size of this language model may make it suitable to run locally, for example as an app on a smartphone. Something the size of ChatGPT lives in the cloud and requires an internet connection for access.

While ChatGPT is said to have over a trillion parameters, Phi-3-Mini has only 3.8 billion. Sanjeev Bora, who works with genAI in the healthcare space, writes: “The number of parameters in a model usually dictates its size and complexity. Larger models with more parameters are generally more capable but come at the cost of increased computational requirements. The choice of size often depends on the specific problem being addressed.”

Advertisement

Phi-3-Mini was trained on a relatively small dataset of 3.3 trillion tokens — instances of human language expressed numerically. But that’s still a lot of tokens.

Why we care. While it is generally reported, and confirmed by Microsoft, that these SLMs will be much more affordable than the big LLMs, it’s hard to find exact details on the pricing. Nevertheless, taking the promise at face-value, one can imagine a democratization of genAI, making it available to very small businesses and sole proprietors.

We need to see what these models can do in practice, but it’s plausible that use cases like writing a marketing newsletter, coming up with email subject lines or drafting social media posts just don’t require the gigantic power of a LLM.



Dig deeper: How a non-profit farmers market is leveraging AI

Source link

Advertisement
Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending

Follow by Email
RSS