Digital Marketing Capabilities
Digital marketing Capabilities are a foundational asset for success in the digital age. Whether it is digital natives or mainstream firms trying to compete in the digital space have focused on enabling marketing capabilities. (While the term digital marketing capabilities are used here, it is different than a traditional business architecture based marketing capabilities model. Of course, a detailed decomposition of the higher level competencies and skills are integral to a marketing business capability map and a digital capabilities model at lower levels of granularity.)
Social media a powerful amalgamation of network effect, content, and opinion. Understanding the social media landscape well and harness the power of the network is an essential marketing capability in the digital age.
The key digital marketing capabilities companies are focusing on and trying to build competencies are as follows
Critical Digital Marketing Capabilities:
- Brand Equity: Building sustainable brand equity is a paramount charter for marketers. Creating, nurturing, growing, and harnessing brand equity is extremely difficult in the highly competitive digital and communication channels. Successful companies pay a lot of attention and spend a lot of money to building and leveraging brand equity.
- Influencer Marketing: Every bloke with a blog and every mom with a list can garner attention, shape opinion and move the needle for any product/brand/service. Identifying the relevant influencers and harnessing their expertise and reach is an essential marketing capability.
- Content Marketing: On the Internet, content is king. Of course, it is not just about creating volumes of material, even though it helps. It is all about finding the right content hooks to engage the audience and earn their trust. It’s a subtle form of marketing, and this capability sets apart the winners.
- Social Media Management: Social media a powerful amalgamation of network effect, content, and opinion. Understanding the social media landscape well and harness the power of the network is an essential marketing capability in the digital age.
- Community Building: Whether it is Trekkies (Startrek) or Macolytes (Apple), companies that have a cult-like following tend to gain several benefits. One is this group is loyal and will be first adopters. Second, the strident voices and informed opinions will help in gauging the pulse and getting feedback. However, an active community needs constant engagement and doses of excitement to survive and thrive.
- Customer Engagement: Engaging customers across the omnichannel for research, pre-purchase, purchase, and post-purchase, sometimes in real-time, is essential to driving loyalty.
- Analytics-driven Marketing: While bursts of creativity are still critical to the copy of an ad to stand out and a TV commercial to become water cooler item, it is the underlying analytics that should drive the marketing decisions.
- Search Marketing: Organic search, paid search, directory listings, ratings, reviews and recommendations and many other forms of being able to be found by customers is a lynchpin in digital marketing success.
Also, the apex level marketing functions such as marketing strategy, a marketing operating model, an execution plan, and a marketing-oriented culture are essential ingredients for success in the digital realm.
What digital marketing capabilities do you focus on? How has your journey been thus far?