Omnichannel Advertising to Drive Adoption of New 4Ps of Marketing
Last week, I highlighted the Borrell Associates report regarding the importance of digital specialists. While media companies may be gravitating toward hiring more digital specialists, they should also keep an eye on the rise of omnichannel engagement. The IAB and Winterberry are reminding media companies and marketers that the most effective campaigns cross all customer touch points with a consistent message. This trend increases the importance of being able to sell a multi-format media solution to marketers and may give rise to 4 new Ps of marketing, especially on the digital front.
The IAB study suggests that omnichannel advertising should incorporate 4 new Ps of marketing:
- People: The development of ‘performance-driven’ individuals
- Processes: Improvement of internal workflow processes to manage data streams
- Platforms: The technology that will allow real-time media buying, CRM, and optimization in each channel
- Partners: Identifying the right 3rd party vendors that will help marketers and media companies achieve excellence in both the creative and technical aspects
At least 83% of marketers agree that an omnichannel marketing campaign drives a great deal or some value. And 91% say the same with respect to improving the results of a direct response initiative. Nearly all surveyed marketers want media companies to offer “cross-platform, audience-driven, targeted impressions.” The reality is that few media companies possess the technical capability to offer these solutions. And, marketers agree that they are not always sure how to use the information that media companies provide. Most experts predict that the industry is in a slow transition to the omnichannel goal and this transition may take several years as budgets gradually shift from ‘silo’ purchasing.
Do you agree that the move to omnichannel marketing will result in more organizations considering how to implement new Ps of marketing?[Sources: Assessing Local Digital Sales Forces. Borrell Associates. Jun. 2013. Web. 21 Jun. 2013; OmniChannel Audience Engagement. Iab.net. Jun. 2013. Web. 21 Jun. 2013]