Don’t Be Scared of These Marketing Stats
Witch-and-vampire-themed decor, dark imagery and scary movie marathons make Halloween a celebration of Fear. At Persado, we define Fear as something that induces distress or alarm in the face of an undesired outcome. In the face of shrinking budgets, an ever-expanding Amazon threat and constant turnover, it’s understandable if marketers feel fear creeping in every so often (or every other day). But MarTech has expanded to help provide a solution to these common marketing issues to the point where there’s not much to be afraid of. These are the tricks that will have work feeling more like a treat.
The Marketing Budgets are Shrinking!
Gartner reported marketing budgets shrank for the first time in three years in 2017. Expectations likely didn’t. But this is where AI and Machine Learning is an exciting prospect to CMOs, CEOs and board members. The technologies, particularly when capable of generating content, lessens the burden on marketers and copywriters to create subject lines and copy for digital campaigns, giving them time to focus on bigger-ticket creative items. The data-driven focus that AI provides gives marketing teams a way to prove their worth (and therefore advocate for a larger budget in the future).
All Things Amazon
Forty-eight percent of online product searches begin on marketplaces like Amazon, according to a 2018 report by BigCommerce and Square. It has made just getting to a user to a web page difficult and maximizing the customer journey at every point in the funnel through to conversion even more crucial. AI technologies are advancing to give brands the opportunity to provide a consistent message and language throughout all channels, such as from an email subject line to the email body to a web page. Additionally, brands like Adorama, a Persado client, have bulked up their email program to combat giants like Amazon. By investing in AI to use personalized emotional language to engage customers, they have seen uplifts of 169%.
High Turnover in Marketing
Marketing is in a constant state of flux, and it’s not just because Facebook keeps changing its algorithm. LinkedIn found the average worldwide job turnover rate was 11%. Marketing teams go above that at 17%, the highest rate on LinkedIn. Try keeping marketing managers engaged by giving them technologies to test, including AI, one of the biggest industry buzzwords. It allows them to become early adopters and empowers them to make recommendations. It also gives CMOs the opportunity to stay on the cutting edge and have a glimpse into what is new and next in the business.