Reuters Events and Iterable have come together with C-suite leaders at General Mills, IPSY, TrueCar and Realtor to share their insights on 2021 marketing strategy
Marketing executives across every industry have had plenty on their plate in 2020. However, whether they are working for shiny new tech startups or century-old brands, most marketers agree that the recipe for success has changed as people have lost jobs, loved ones and livelihoods, and the economic recession has deepened.
A recent McKinsey report – Reimagining Marketing – finds that 75% of customers have tried a new way of shopping during the pandemic and 70% intend to stick to it. With 87% also spending more time on digital media and 40% of consumers spending less, the role of the marketer has never been more center stage, or more complex. “It’s a super, super challenging environment, and every day is a little different,” says Jenna Habayeb, the chief brand officer of IPSY, an innovative, digital-first, monthly make-up subscription service.
While the long-term impact of COVID-19 remains unknown, platforms and technologies are changing apace. No longer is it enough for marketers to be curious, creative, and customer-driven. In 2021, marketers need to be agitators for change in their organizations and go further with deep, data-driven, cross-channel engagement that drives growth. So, how do we get there and what are we looking for?
This is the question many marketers are asking. That’s why Reuters Events and Iterable have come together with C-suite leaders at General Mills, IPSY, TrueCar and Realtor to share their insights on 2021 marketing strategy.
At this point, you’re either winding down for Christmas or in a mad rush to ensure your strategy is somehow ready for the volatility of 2021 customer behaviour. So, rather than giving you another million page report, we’ve provided a concise checklist-report for efficient reading!
2021 Marketing Strategy Checklist (more detail in the report)
Engage with empathy
Take a full-funnel approach
Prioritize first-party channels
Deliver unforgettable experiences
Make it hyper-personal and hyper-local
Do a ton of research and test
Reduce churn, build customer lifetime value
In 2021, the need to engage, empathize and retain customers will continue to be top of the marketing agenda. This will require building positive relationships - both internal and external. At the same time, technological tools and strategies will continue to improve the way marketers reach their customers.
With ever-shifting consumer behavior, marketers will be at the forefront of decision-making, and the customer experience must be top of mind. There is a lot at stake and companies need to move quickly, because what worked in the past will not be the same in the future. Brands will need to become more flexible, agile and data-driven than ever before in order to face off competition as more businesses accelerate the move to digital.
As the executives closest to the consumer, marketers will be on the frontline in driving change. The ability to communicate the value of marketing to business leaders and investors, smarter use of digital tools to boost productivity and better serve customers, adaptability, and continued sensitivity to the needs and experiences of consumers will separate the winners from the losers in the year ahead.
Including exclusive interviews with:
Brad Hirinaga, Chief Brand Officer, General Mills – “Doing good drives our business. It creates a lovely virtuous cycle that builds customer lifetime value”
Jenna Habayeb, Chief Brand Officer, IPSY – “long gone are the days of big, beautiful, glossy $100,000 campaigns… we are now in an era of very quick, snackable, mini-blitz-type moments.”
Beth Mach, Chief Consumer Officer, Truecar – “Instead of thinking about what technologies I need to invest in, I am looking at what we can consolidate or live without”
Alyssa Jarrett, Director, Brand & Content Marketing, Iterable - “the rise of directto-consumer, rapid-growth startups that are coming out of the woodwork to take market share from traditional companies as something that enterprise marketers really must be aware of”
Don’t let 2020 get away from you yet, it’s not quite time to clock off – stay with us!
Hope you find it valuable! Let me know if you have any questions or would like to discuss further.
Strategic Director - Marketing & CX, Reuters Events
November 2020, Online
The only CMO led event for brand, digital and content marketing professionals.