Although the concept of marketing remains the same, the way marketing functions has changed. The challenges businesses face today in marketing are also different. Looking back over the years it’s likely that your spend on digital channels has increased. Even in the last year, you’re probably using new digital tools to help you market better. The trend is set to continue. A recent study by Gartner found that digital marketing spend will increase from 44 per cent to 54 by 2024.
When did things start to change?
2008, a fork in the road for marketing
Following the economic crash in 2008 the marketing technology (MarTech) revolution began. In case you don’t know, MarTech is the combination of marketing and technology. Marketing software including – Automation, social media management platforms and web/SEO tools are examples. MarTech continues to grow, there are now over 7000 solutions available.
As the recession continued marketing budgets shrank. MarTech offered new ways to help businesses adapt. The new technology empowered in-house marketing teams. They were able to save time, money and outsource less. As well as saving budget, MarTech made it easier to benefit from the many new ways to reach customers online.
Fast forward twelve years to 2020 and the digitalisation of daily life continues. In turn, marketing is becoming more technical and fragmented. With that brings a new set of challenges for businesses. There’s now more to consider – User experience, Internet of Things, social, GDPR, LinkedIn lead generation, marketing automation, CRM integration, Google Data Studio… Digital progression offers opportunities to reach new audiences but there are disadvantages. Mainly, with so many options it’s more difficult to choose the best strategy. The next obstacle is navigating the technical aspects to ensure return on investment.
Marketing is different, and it calls for a different approach
Say hello to HUT 3
Marketing Week’s 2016 survey highlights changes in the client-agency relationship. The findings vary. Over 50 per cent of marketers were expecting to bring previously outsourced work back in-house by 2020. In contrast, half of brand marketers surveyed are consolidating agencies. Whilst the other half are adding more outsourced specialists.
Specifically, it’s brand marketers who are looking for new ways to engage with customers and influence decision makers. But they struggle to understand who to partner with. The problem is the term “digital” no longer explains an agency’s services or what it can do for marketers. Only 8 per cent surveyed were very satisfied with their agency partners. When agencies expand beyond their core strengths they become generalists, risking client satisfaction.
In response to the transformation in marketing, agencies need to work differently.
The old client-supplier model is outdated. Businesses today need agencies to work with in-house colleagues, understand strengths, share knowledge and become part of the team.
Today marketing teams have endless resources to help them. But inevitably there are skill-gaps for even the most senior marketers. Because, this is the nature of marketing now – fragmented with many areas of specialism. Our job in 2020 and onwards is to work alongside you, filling the gaps and offering support where needed.
Sharing knowledge and training in-house teams is a key part of our approach. Including a full range of marketing services, we offer workshops to help you stay ahead of the latest marketing techniques. Our knowledge is your knowledge, that’s how it works.
That’s why we built the HUT 3 approach to be different
We promise that we’ll work flexibility with you to become part of your marketing team. And we’ll make recommendations based on experience, integrity and intelligent insight. This is how we do it –
HUT 3 PLAN – We can generate the insight to drive the strategy, or work with what you have, taking your objectives to provide a plan.
HUT 3 CREATE – We support you where you need it most, creating the concepts, the copy or individual assets.
HUT 3 DELIVER – We can deliver as much or as little as you like, on our own or with your internal team.
HUT 3 TRAIN – We can help you maximise your internal team, to shift from external to internal, we share skills that will benefit everyone in the long term.
Our model for helping you achieve success is different. Our approach is different, how we report is different and the outcomes are brilliant – but different! You’ll find our team of experienced strategists, designers, digital/content marketers, web developers and project managers together at the Hut. Join us and say hello to different.
*Source
www.gartner.com/en/marketing/research/cmo-spend-survey-2019-2020
www.marketingweek.com/just-8-of-brands-are-very-satisfied-with-their-agency-partners/