a precarious balance between profit , innovation to meet current circumstances , engagement and showing care . This in the midst of reduced spending budgets for most organizations .
Rapid changes in technology
In order to meet requirements for physical distancing , technology has been adopted across . Previously , the speed of technological change was already quite fast and the pandemic has been a catalyst to its speed . It requires time and effort to keep up with the automation that runs companies of all types , and now time is a prized commodity that few can afford . The expectation is that companies adopt and adjust fast or be left out . Today , marketers are required to have a working knowledge of the plethora of technology that ’ s used to stay connected 24 / 7 . Examples include CRM software , design programs and data analytics . The sheer volume of information and technology available impacts and the need to keep abreast will certainly make it hard to be at ease .
Increased competition
Barriers to entry for most businesses have been reduced thanks to advances in technology . We live in a hyper-competitive world which may be advantageous for customers as they have the options of
For most people , FOMO is real ; it ’ s not nice to be left out . In the case of marketing professionals , not being onboard the latest trend could mean missing out on opportunities for greater profitability . It ’ s tough deciding which trend to follow and which to leave out . choosing the best products that suit them . However , for businesses , this means having antenna erect at all times lest they ’ re passed by . As the competition grows , marketing professionals worry about how to secure their fair share of the marketplace . Marketing professionals are finding it difficult to create and maintain the corporate distinction and unique selling proposition they need to thrive .
Proliferation of communication channels
The increase in communication channels such as social media , search , email , etc . means that marketing professionals face three significant problems . The first is assigning revenue to each of these channels . That is , what percentage of the budget should be given to search , social media , etc . This means that they have to have a consistently updated knowledge of which channels customers spend most time on .
The second challenge is maintaining consistency across these different platforms . How a message is presented on a company ’ s website cannot be exactly replicated on an email newsletter and so on . Without consistency a brand risks losing credibility .
The third challenge is whether communication efforts are resonating with customers . With so many options to communicate , it may be hard to effectively reach the hearts and minds of customers .
Missing out on upcoming trends
For most people , FOMO is real ; it ’ s not nice to be left out . In the case of marketing professionals , not being onboard the latest trend could mean missing out on opportunities for greater profitability . It ’ s tough deciding which trend to follow and which to leave out .
Measuring efforts
Business seniors rightfully expect to see returns on marketing efforts . This may not be so easy to demonstrate in spite of the fact that there are increased ways to measure the effectiveness of campaigns . Choosing particular metrics to focus on for the short and long-term is not very easy .
Working in teams
The marketing profession is dependent on team contributions vertically and horizontally . This just means that marketing professionals have to work well with others in their own department and in other departments in order to make informed decisions . Now , in addition , there ’ s an increased need to work with remote teams .
Maintaining proficiency
Understanding the marketing discipline is not enough for today ’ s marketing professional . They have to have a wide and deep understanding of other business functions and draw correlations to see how the pieces fit together in broader contexts .
Linked to the above point of working in cross-functional teams , marketing professionals need a working knowledge of how the organizations they work for operate . This in addition to keeping abreast through constant reading , studying , etc . in a bid to remain relevant not just for the organizations they work for but the industry as a whole .
There ’ s a verse in the Bible that I turn to although it ’ s easier said than done . “ Do not be anxious about anything , but in everything , by prayer and petition , with thanksgiving , present your requests to God . And the peace of God , which transcends all understanding , will guard your hearts and your minds in Christ Jesus ” ( Philippians 4:6-7 ). I find some peace knowing that God ( the Higher Power I serve ) has my back . Admittedly , I ’ m yet to learn to fully rest in Him . I ’ m now going to include a good night ’ s sleep in my prayer list .
Marion Wakahe is a marketing professional who is passionate about business growth and sustainability and its role in peoples ’ empowerment . She is of the opinion that the marketing function is the primary driver of business growth . You can engage with her via email : MWakahe @ gmail . com .