The rise of the internet and mobile has led to significant changes in the marketing and finance worlds. In this new era, the marketing and funding departments now require an evolved set of skills, definitely ground and rooted in technology, to take advantage of this rapid transformation. Are marketers and marketing departments keeping pace with the skills they need to produce the desired outcomes for the SMBs where they work for crowdfunding and marketing which are quickly growing into a single entity? What about the SMBs that don’t have a marketing or crowdfunding departments or marketers that possess these skills and certainly don’t have the time to keep up with the rapid change of new marketing technology for both marketing and funding.
Technology Driven Marketing
No part of the business world is changing faster than marketing and funding. Consider the tools that were either in nascent form or didn’t exist just two decades ago: Websites, email, social media, marketing automation, mobile phones. When I entered the marketing field most of these tools were not even on the drawing board of transformation that drives our world into a future that’s only constant, is change at light speed.
Understanding the Power of these New Technologies
As these new tools have been born, marketers, marketing departments, and funders have adopted by hiring marketers with the skills to leverage them, and the results have been a more powerful marketing and funding outcomes than ever. Marketing and crowdfunding should be recognized as revenue drivers and totally integrated into the strategic business planning process now that the tools to finally prove, through measurement, that marketing spending leads to increased revenue and funding opportunities.
Innovation is Required
These revolutionary changes are also battering the media marketers and crowdfunders use to reach their target audiences where and when they are online. Marketers and crowdfunders struggle to take full advantage of the myriad options available to reach consumers, who are engaging with mobile, social media, connected TV, and a host of other continuously evolving media.
Keeping Up With Technology
But consumers, empowered like never before, aren’t necessarily engaging with marketers. In fact, they’re able to actively avoid advertising messages with DVRs, internet ad blockers, and the email unsubscribe button In light of these changes, it’s no surprise that 67 percent of marketers said that technology was “evolving rapidly or at light speed,” according to a recent Signal survey. Additionally, a Forrester Research survey found that 34 percent of B2B marketers described themselves as “overwhelmed” by the pace of change.
Data Driven Marketing
These changes to the marketing and funding worlds may be coming fast and furious, but they also provide opportunities. Many SMB marketers and funders believe that they are already benefiting from these opportunities. The Forrester survey referenced above found that 78 percent of B2B marketing executives said they had greater input on strategy. Today, technology and data have provided marketers with a 360-degree view of the customer that is unparalleled in the organization and puts the marketers in a formidable position. Marketing technology is so strong, an ever increasing amount of business decisions will be driven by data accumulated by this ever improving marketing technology.
With this rapidly changing mix of marketing technology and the ever increasing amounts of data that must be gathered, stored, interpreted to drive business strategy the marketing sector begs the question: Is your marketer or marketing team, as an SMB, evolving the necessary marketing skills sets at the same pace?