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WHAT IS THE NEW FINANCIAL YEAR GOING TO HOLD FOR US?

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WHAT IS THE NEW FINANCIAL YEAR GOING TO HOLD FOR US?

Six months down, six months to go, what will the next 6 months bring in the world of digital marketing.

It’s no surprise that what the world has experienced – personally and professionally – over the last 3 years has meant that everyone is adjusting to the “new normal” that is our lives. But beyond the health pandemic that swept the globe, a new and exciting “new normal” is quickly becoming embraced and accepted; the new world of data and digital consumption.

While this is nothing new, the switch to hybrid work models, coupled with lockdowns and the inability to physically go out to shop, socialise, and connect has seen a development (in a good way!) in the following areas:

  • The evolution of data partnerships and how sharing data can make business more powerful.
  • The merging of online and offline teams in a way that before was looked down on, but is now embraced.
  • Digital consumption is no longer a dirty word and how the monetization of this can be a positive thing for all involved.

Now, six months into 2022 – and fast approaching the EOFY! – we look at what the following six months may hold for our clients, and beyond!

Embracing the fear of the unknown

At Loud Days, we love data! But we know that it’s not something that everyone else loves. Over the last 24 months, we have seen a shift in the size of business that embraces data and gets excited by what it means for them.

SMEs are now happily reviewing the digital numbers and optimising their marketing and business strategies based on what the data is saying. This means more businesses are making faster, smarter decisions that are having a positive impact on their revenues and ROI from digital.

Moving fast

The pandemic has shown individuals (and businesses) that some things you cannot control. Based on this, we have seen that the increased embracing of data (noted above) has led to an increase in the understanding of the world beyond the targeted industry, and the ability to take the information about a previously ‘unlinked’ industry and apply it to their business and decision making processes.

From how one manages digital leads and prospects, through to changing messages and target audiences to gain a fast reward from the changing environment.

You get what you give

As more businesses are forced online, it can get more expensive to target and capture the eyeballs and attention your business needs and wants. Many of these businesses are tackling the platforms of Meta and Google without qualified support, meaning they are saving on agency fees, but not getting the ROI they need and therefore, losing potential customers.

While some businesses are experiencing an increase in the cost of acquisitions, Loud Days clients are enjoying the opposite. While a better understanding of the audience and the ability for specialists to roll out accurate targeting, the increase of competition is allowing our clients to reach the right people at the right time when they are ready to buy. We do this by cutting down on waste and focusing on new technology metrics that are becoming more readily available to us.

Engagement Vs Conversion

We are seeing (thankfully!) a shift away from but my posts are getting likes to a focus on the conversions and ROI of the digital world is driving for business.

We know that knowledge is power and the more clients are embracing what is possible with digital, the more they are loving the simple fact that Google and Meta are designed to make business money; because the more they make you, the more you spend.

While not everyone supports these platforms, their ability to assist business in achieving and succeeding cannot be understated. From a Loud Days perspective, we love working with clients who have discovered what is possible and are leaning into making this a success for their own business.

What agency can support us?

Businesses are also becoming more savvy in what they expect of agencies and it’s about time! There are certain things to look for when you’re interviewing agencies to see if they are the right fit for you. Short but sweet, here’s what to sense check beyond skill:

  1. Are they multi-skilled and how do the skill sets talk and work together?
  2. Are they a moving changing agency that never rests on ‘but this is how we’ve always done it ’?
  3. Do they show you what is possible, while providing a roadmap of how to get there?
  4. Do they offer options on the above and not just the ‘all in’ version?
  5. Are they fast to respond and take action (no, it doesn’t take 2 weeks to set up a digital ad when the opportunity is today)?
  6. Is there an option for personalisation?
  7. Is there an option for technology advancement?
  8. Can they show you how digital can add to your customers’ transactional journey and make it easier for you and for them?
  9. Do they have a mix for old heads and young-gun excitement? (See point 2)

There is always going to be more, and no one can predict what comes next (yes, we have all experienced the last three years!). But what we do know is that – right now – digital is only possible with humans being involved. From the people setting up your digital ecosystem, to you – as a client – committing to understanding the digital world around you so that you can get the very best for your business, the next six months are going to be something special for everyone who gets excited and gets involved in what is possible.