As we approach the mid-way point of 2021, it's clear that your organization's leadership and that of your marketing teams continue to take centre state within many organizations.
This week, we will break down some of the trends we see in 2021, reshaping the marketing team's role and the CMO in 2022.
A Focus on the Short-Term
The pandemic caused our respective survival instincts to be showcased for all to see, both in our personal and professional lives, as we established our "new" ways of operating.
In 2020, we saw a swift and significant shift towards acquiring new customers vs. other brand priorities. That trend has continued into 2021, with many brands doubling down on customer acquisition.
Emerging in 2021 came an increased focus on the quality of business leads, a natural evolution. Priorities such as contact database growth, identified leads, and lead quality all came to the forefront.
While many shifted to strategies that focused on the bottom of the funnel, seasoned CMOs continue to recognize the value of brand awareness in improving lead quality and volumes.
Social & Digital in the Spotlight
Many CMOs became much more intimate with the marketing tactics as we entered the pandemic due to the various unknowns we were facing.
For many, this resulted in budget cuts, while others looked to reallocate media towards channels that offered ROI clarity.
This resulted in investment increases within channels such as Social Media and broader digital media tactics. These tactics were favourable from a cost perspective and for their abilities to operate within the vital stages of the purchase funnel.
We see this trend continuing beyond the pandemic. However, looming questions sit within the peripheral on the impact of Apple's privacy changes and the looming delusion of the 3rd party cookie coming within the next 12-months, which has been instrumental in the success of these digital tactics.
A Focus on Retention
Protecting what we have at all costs was a survival instinct many CMOs put into motion in 2020, and for many remains to this day.
Brand trust and the value the brand brings to its clients, being the most significant driver of retention.
That being said, the trend towards retaining customers as a relation to communication strategies and also strengthening the brand in the eyes of your active clients will surely continue. The investments made by many CMOs over the past year will continue and will undoubtedly be an area of growth for many internal and external marketing teams.
The end is near, but the pandemic has indeed pushed some tremendous improvements forward that will improve how we collectively operate for years to come.