Communications and Media
The communications and media industry is undergoing a period of rapid change. Technological change is creating new distribution models, upending old business and vertical integration across content and delivery are creating larger more complex organizations competing against new innovation driven players. Marketers in communications and media are faced with multiple challenges.
Understanding returns from revenue driving investments
With heavy competition for customers, increased M&A and growing portfolio complexity comes the need for businesses to understand the return they are getting for all elements of the commercial investment. How are marketing, advertising, promotional, sales and channel investments working versus and with each other and what are impacts across different elements of the portfolio.
These questions require a rigorous analytical approach to be addressed in a way that provides enterprise level optimization and management.
Operationalizing return of marketing investment as a process
The fast paced nature of the industry and the rapid campaign and promotional cycles require that analytical rigor becomes an ongoing part of the planning and go to market process.
Operators need to establish the infrastructure, data, methods and capability to measure and manage these investments on an ongoing basis to support decision making, measurement and planning for maximum commercial spend ROI.
Managing multiple distribution channels
While M&A is driving consolidation, customers are fragmenting into multiple behavioral, lifestage and needs based segments and new competitors are emerging. Each of these segments engage with competitors across different distribution channels and in different ways.
Leading marketers understand the interplay between marketing and different sales and service channels and the economics of those corresponding channels. Differentiated channel management and the linkage to segmentation, pricing and campaign performance is critical, while ensuring a consistent brand experience.
Building credible brands
Building strong brands continues to be of critical importance in an industry increasingly at parity on objective product and service parameters. Strong brands have been shown to benefit in multiple ways:
- More efficiently acquire customers without over reliance on expensive promotions or pricing
- Improve value and ROI of distribution network
- Improve marketing ROI
- Improve retention
Building strong brands in the current environment is a different undertaking than the past. Gone are lofty brand positioning as institutions focus on building relevant brands with consumers that can credibly be delivered upon while being sensitive to regulators and outside stakeholder interests.
Leading marketers understand drivers of brand value and manage these and their relationship to outcome across social, paid marketing, PR and product and service delivery.