Marketing: Understanding the New Engagement Economy

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Engaging with our customers is an essential part of driving our businesses. However are we sure that we communicate with them in an effective manner? An article in MarketingMag produced by Marketo, a content partner for MarketinMag, reminds us that this connection is constantly changing and looks at the Millennials sector of the market where change and approach to the use of communication devices in business sets the scene for how we must communicate with our customers going forward to obtain the results we aim for.

Marketo, ” The engagement economy is about understanding the importance of communicating with consumers on an individual level using the right channel, device and message. How can marketers do this with Millenial consumers on an increasingly complex playing field?” Buyers are gaining control therefore they must be connected with in an intelligent way. It is important to actually engage them. Marketo, ” Sellers have to engage their potential buyers on the right channel, on the right device, with an authentic and appealing message.” The engagement economy is about how organisations listen to their buyers, learn how they want to be interacted with , and then engage with them in that way.

We are given an example of how a typical Millennial responds to electronic communication these days. She’s in university, reads fashion magazines, watches Netflix on her IPad and listens to Spotify on her IPhone. She uses Snapchat, SMS and Facebook. Marketo, ” She’s digitally savvy and digitally connected, but you will never, ever reach her on her email. I once emailed her for confirmation of a flight then texted her to confirm that she’d received it. No she hadn’t because she had not checked her email for a few days. ” The losing company is going to keep emailing her over and over again and is totally ignorant of the fact she’s not opening it, not checking it, not paying attention. They will never get their message through to her. If they can’t listen to her lack of engagement on email and find channels and mediums to communicate with her then their marketing spend and their complete marketing message is lost.”

For the last 25 to 30 years email has been the preferred way to communicate your message. To maximise your engagement appeal it pays to watch how the Millennials engage and as such become aware as to how they wish to be approached. They are showing us how to become more authentic and sophisticated in they way we communicate. Marketo, ” Most great marketers aren’t great integrators, most great marketers are great marketers. The solution is you need to aggregate all of those touch points, all of those devices, all of those channels to be able to listen, learn and engage. To learn the behaviour of your customers and how they are interacting with you.”

Because Millennials are adopting new technologies, these new technologies are forcing us to respond differently. There is an unmistakeable trend happening before our eyes. Sharing information supported by visuals. Marketo, ” When you want to understand the Millennial, look at the trends. Visual and sharing is big with this generation.” Further, ” Figure out how Millennials interact in authentic and meaningful ways for them.” 

When you examine the old marketing ways compared to the new you can appreciate the massive shift in the way parties interact. Marketing used to mean you were the arts and crafts person making the cool looking logos. The message was sold making claims about how your work would influence sales. Now the aim is to become owners of the entire customer experience. And looking ahead. Marketo, ” You’re either going to be an old school, one dimensional, one way marketer or you’re going to be an omni channel marketer who gets that Millennials buy and interact with you differently than a retired couple in their late 60s.”

Stay ahead of the game by keeping our electronic devices up to date and appropriate for our marketing goals. Visual and sharing activity is the message that comes through in this solid cover of the new school approach to creating profits through retaining our customers in our marketing endeavours. Change is being forced through disruption and rapid development of the way we need to effectively communicate with our customers. The Millennials are providing us with information, through the way they communicate, as to how we must develop our marketing systems for the future. This is the fertile ground. Take notice and prosper.

Hayley James & Sarah Wilson.




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