How should a brand act in today’s rapidly evolving marketing landscape? The simple answer to that tough question is, ‘With agility’. Marketing decision makers must remain flexible and receptive to shifting trends. As new data from TRA’s Marketing Decision Index Q2 2023 emerges, it reiterates the need for businesses to reassess their strategies to stay ahead of the curve and maintain a competitive edge.
One important and visible trend is the need to increase focus on local and regional advertising mediums. Marketing Decision Makers should recognize the value of targeted, location-specific and language specific messaging to connect with their audience better. When you talk the language, you feel the heart, if acted on by the brand, will help create better consumer connections. This helps in understanding the unique needs and preferences of regional consumers, which can create impactful and relevant campaigns that resonate on a personal level.
The importance of subtle mediums like public relations, is an aspect that comes out in MDI Q2. The often ignored, radio advertising, too should also not be overlooked. These traditional channels hold a significant place in the marketing mix, offering opportunities for brand building and storytelling in ways that will impact audiences in an understated, yet deep manner. If one were to read the MDI Q2 data strategically, the take-out is that Marketing Decision Makers must strike a balance between embracing new platforms and maintaining a strong presence in well-established mediums.
The ever-changing digital space continues to demand attention. While businesses should adopt channels like social media, digital search, and digital advertising, they must also be aware of the risk of oversaturating their audiences. A strategic approach to digital marketing perhaps involves selecting the most suitable channels for a given campaign and monitoring their effectiveness.
Marketing heads must remain adaptive and agile in their decision-making processes. By keeping a finger on the pulse of the industry and continuously evaluating the effectiveness of various channels and by acquiring data and information on how other marketing heads are taking decisions. Staying ahead of the curve and being open to change are essential traits for success in this ever-shifting environment.
With a diverse entrepreneurial background, the author has thrived in the communication industry for over two decades, specializing in brand reputation, consumer trust, desire, and buying propensity, and their analysis and measurement. His literary accomplishments include “Decoding Communication” and authoring “TRA’s Brand Trust Reports” and “TRA’s Most Desired Brands” from 2011 to the present.
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