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What Is Marketing?

Agile Marketing

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In the past, the steps in the marketing process took place sequentially. First, a target market would be analyzed, and then a plan put into place to address that target market. Budgets would be set, and specific marketing campaigns would be designed. These campaigns would take months of planning, then would be deployed to the target market. Campaigns would run for several weeks to several months and, on completion, would be analyzed for their effectiveness.

Many companies are now moving to an Agile model of marketing. Agile, a technique originally pioneered by the engineering community, involves short sprints or periods of activity centered on a measurable goal. The goal in engineering was to deliver better products more quickly. The goal in Agile marketing is to deliver better value to consumers with less upfront investment from companies in programs that may not work. A sprint can last a few weeks and focuses on delivering incremental value in the marketplace. For instance, a company may release a few TV commercials and videos with a call to action to download a mobile app, which in turn would deliver coupons to potential customers. They would be able to tell, via modern measurement tools, within a few days whether the message in the TV advertising campaign was delivering the desired results and could then either engage in further promotion or release other types of advertising that contain a differing message. In this way, marketing becomes a continuous cycle of analysis, planning, implementation, and control, often with all steps occurring near-simultaneously.

In Agile marketing, marketing analytics come to the fore. Marketing analytics are a set of tools and guidelines that allow marketers to measure all aspects of customer or potential customer interaction. It includes tools that measure web traffic to determine which offers and products are most popular, how customers behave in response to certain messages (for instance, clicking on a link to buy when on a page with attractive photos), and the growth of markets over time. Agile marketers look to marketing data to determine the effectiveness of marketing campaigns, the feasibility of addressing markets, and the influence of factors such as price.

Today’s data-driven marketers focus on delivering a strong Return on Investment for every marketing dollar spent. Returns can be defined as new customers, broader awareness, or the ability to hold off the impact of a new competitor. Marketers must define goals in relation to these returns. They then use analytics, such as web analytics, to measure whether efforts are leading to success towards these goals. In this way, marketing initiatives can be more effective at reaching target markets in a shorter time.

The Benefits of Agile Marketing

Agile marketing has transformed the way that companies approach marketing their products and services. Below is a list of some of the benefits to employing an Agile marketing technique:

  • Short time periods make for quicker and more efficient data analysis
  • Higher level of communication within the marketing team
  • Stay competitive within the industry
  • Adapt to changes quickly and easily
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