Studies conducted by MIT suggest that companies that rely on Agile Marketing grow 37% faster and generate 30% higher profits than companies that do not rely on Agile Marketing.
The shift towards the agile approach is due to the rapidly changing and growing technology landscape. With new channels, new MarTech and the increasing information overload, customers expect an adapted and personalized brand experience. These new customer expectations have prompted traditional marketing departments to adopt a more interactive approach to marketing activities to enable continuous, customized and insight-driven interactions with the customer on an individual level.
The reality is that almost 70% of CMOs adopting Agile Marketing and the associated Agile methodology have confirmed that profits and revenues have increased. Korn Ferry, a leadership and talent consulting firm, reports that companies with highly agile leaders generate 25% higher profit margins compared to partner companies.
An agile approach allows companies to become more effective with the same amount of time. You get more work done - or not. The point is to get the right things done!
The Content Marketing Institute has stated that the goal of Agile Marketing is not to process more tasks and projects, but to process the right tasks and projects. In fact, a busy team is not necessarily a productive or efficient team. The first step in using Agile Marketing for your own marketing operations is to dismantle the traditional departmental silos and re-focus internally. With a dedicated team and a more transparent structure, companies and organizations can eliminate duplicate tasks and reinvest time, money and effort in activities that deliver the greatest ROI.
To fully realize the benefits of Agile Marketing it is essential to have a single customer view and shared data across all departments. Customer service should be able to access information such as transaction data, social media engagements, previous customer interactions and purchase history.
Shared data enables creative insights for personalized messaging and also provides the opportunity for brands to engage customers by delivering a remarkable customer experience. In addition, a holistic view of the customer supports the creation and verification of the return on marketing efforts.
Take a sophisticated cross-channel measurement approach to ensure that you capture the full value of your entire marketing funnel (offline, online, mobile, social, video, etc.) regardless of "clicks". An ad can contribute to a result even if the consumer has not responded to it.
Identifying the right actions based on measurable goals that draw on relevant business results trains the team to think in a results-oriented perspective. The significant difference to other organizations that do not prioritize activities based on relevant business objectives.
Agile marketing helps to strengthen the culture of agility by providing a structure that encourages marketers to be iterative, flexible, customer-oriented and focused.
Through regular application of Agile methods, each team member will gain a better understanding of how their own specific activities contribute to increasing ROI and business growth. As teams adapt more quickly to changing conditions, they are better prepared for new project requirements, budget changes and flexible annual planning. According to a Harvard Business Review Analytics report, another benefit of Agile Marketing is a significant increase in employee satisfaction.
Strategy and tactics need to be able to react to changes and therefore marketers need to be more responsive than before. This is due in part to the change in consumer behavior, which no longer allows you to plan 12-24 months in advance.
With the growth of the technology sector and marketing budgets, more and more CMOs find it difficult to measure the ROI of their marketing efforts. Using Agile Marketing can help drive transformation within the organization.
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