Marketing Basics Drive Tomorrow’s Innovations

Marketing Innovation

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Marketing Basics Drive Tomorrow’s Innovations

Marketing Innovation

What drives us marketers forward is innovation; that much is obvious. However, at RampUp on the Road’s most recent stop in Seattle, speakers from the Gap, PlaceIQ, and 84.51 reminded us that when it comes to taking your marketing to the next level, it’s important to go back to the basics and remember what it is that you’re trying to achieve.

According to Michael Perman, former head of innovation at the Gap, the key to marketing innovation is taking everything back to the basics of psychology: our emotions.

“Emotions like craving, fear, and passion will drive the consumers of tomorrow,” said Perman.

Understanding the emotions of your customers allows marketers to answer questions of why instead of what.

In other words, questions like, “why are consumers more likely to convert?” verses “what did consumers buy?” will be more important to tomorrow’s marketer.

Perman believes that the ability to answer the why question will drive innovation for forward-thinking marketers.

How will you know the why?

Let’s take another step back for a second.

Derek Thompson of PlaceIQ thinks the goal of marketers is to drive consumer engagement through relevant information.

“Driving the next customer engagement is just as important as the sale,” said Thompson.

If a marketer can provide an engaged consumer with relevant information, they are then able to transform his or her experience for the better.

At LiveRamp, we believe that data-driven marketing is crucial to achieve this goal.

To answer the why and deliver your customer relevant information, you have to know something about them.

As such, getting back to the basics begins with building your marketing strategies and tactics off of data. If you can answer the why, then you can start to predict the outcomes of tomorrow’s consumer and better plan for those outcomes in your marketing strategies.

Where do I start?

The short answer: start with your own goals.

Lung Huang, Head of Strategic Partnerships at 84.51, describes Kroger’s goal as, “bringing loyalty to a very unloyal world.”

So the question becomes, “Why are my customers loyal?”

Fortunately, most marketers are sitting on a gold mine of customer data waiting to be unleashed.

Utilizing what you know about your customers and connecting that data to your online marketing efforts allows you to find that why and engage with them based on the answer.

Building on these basics and setting yourself up for success requires a solid foundation.

Data hygiene is a must—your decisions are only as good as the data they’re based on. The next step is picking best-in-class ad tech platforms while you build a marketing stack.

Data, marketing, and IT teams should talk to one another, as all teams are critical for this evaluation.

We discuss challenges like these and their solutions in our CMO Guide.

What’s next?

Interested in attending RampUp on the Road in a city near you? Dig into the details here.