Dr. Lars Finger
Partner Marketing & Commerce
“The last months have proven that connecting without contact works great – companies who haven´t adapted their marketing accordingly will likely disappear.”
What is agile marketing, and what are its benefits?
"Agile marketing means going beyond real-time marketing and taking the appropriate steps to get there. It all starts with customer data. During this unprecedented moment in time, understanding what your customers need has never been more vital. Many businesses are retaking ownership of customer data. Hoping for greater visibility and control will help them harness the power of that information to compete and win on customer experience. However, companies need to combine it with a new operating model, the right technology stack, new ways of working and an agile culture to really succeed."
Are there any particular techniques you would recommend to organizations that want to stay connected with their customers despite social distancing?
"The current situation has highlighted the importance of digital channels. Any company that wants to get or stay in touch with its customers should make it as easy as possible for customers to do so - by using every available channel.The customer should always be able to choose the channel they prefer to communicate on - both on- and offline.
Customers have come to know and love new digital sources of supply through social-distancing times. Therefore, customers should be able to decide for themselves through which channel, products and services are purchased.If companies do not adapt to the needs of their customers, they risk that customers will not find the products they are looking for or will only buy them where it is most convenient."
Which tools/frameworks/approaches are most effective for marketing spend optimization?
"It is more important than ever to build a fully functioning and future-proof operating model for the digital marketing department. In our experience, the following success factors should be aligned in the best possible way to lay the foundations for successful digital marketing: People, Processes, Technology and Data. If all factors are taken into account, you are able to judge whether marketing spend is being used effectively and can therefore focus on optimizing the marketing activities that have the best possible impact on the company's goals.
In addition, there are currently major changes in digital marketing. In the future, the focus will be more and more on your own 1st party data, and it is now time to connect this data and make it available to the marketing department. The launch of a customer data platform can help advertisers to consolidate and segment their own data into unified user profiles and make them available to the marketing department. This allows the marketer to continue to advertise in a highly personalized manner and to comply with all data privacy regulations."
What are some marketing best practices in the COVID-19 Environment?
"The impact of COVID-19 on society and individuals is not uniform, but must always be considered individually. Therefore, the reasons why one decides for or against the purchase of a certain product or service are very diverse. Companies have the challenge - but also a big opportunity - to adapt their own offering to their different customer needs and thus develop a competitive advantage.
If you look at these changes from the marketing point of view, you have the opportunity to develop an extremely granular and target group specific approach based on the different customer needs. With a transparent measurement of the marketing campaigns, the advertiser can analyze relatively quickly which offers are well received by the different target groups and can accordingly expand or supplement the offering. With the help of the insights gathered, marketing can have a valuable influence on further product development, increase sales of the products and services offered via the various digital channels, and make a major contribution to the long-term success of the company."
Can you give us an example of an organization or client that managed to maintain trustworthy relationships with their customers during the pandemic? How did they do that?
"As organizations evolve to become more customer-centric, so too must the role of the marketing function. More than ever, CMOs and marketing leaders are adapting to the ever-shifting demands of customers across new channels, devices and touchpoints. Marketing is now directly responsible for data analytics, customer experience, digital, mobile, and web development, technology strategy and more. By rethinking the marketing function’s structure, processes and talent, CMOs and their organizations can be better equipped to seize the opportunities of the digital age. As an example, we have helped a major FMCG company to establish digital hubs, which – enabled with the right technology and empowered by agile ways of working – where able to secure the relationships with their customers via digital channels during COVID-19."