The Evolution of Consumer Demographics

NATE BURKE | November 19, 2021 | 106 views

After a year of uncertainty, it’s no surprise that businesses are looking ahead to refresh and refine their digital advertising techniques and strategies to ensure a lucrative and successful future.

With this in mind, businesses should consider how the perception of consumers has changed and reinvented itself over the past year or so, and what can be done to appeal to these new priorities and behaviours.

And here, we spoke to Nate Burke, CEO and founder of digital marketing and ecommerce specialists Diginius, to provide further insight on how to advertise to these new pools of consumers and how businesses can prepare for the modern consumer of 2023.


Of course, as we all know in the world of business, different consumers require different advertising strategies in order to appeal to their needs and priorities.

However, the consumer pools we once knew have directly changed as a result of the pandemic, and so we all need to review our strategies to ensure we’re still appealing to those audiences who matter to us the most.

This includes PPC campaigns, ecommerce strategies and general digital marketing and advertising.

The Predictors

Consisting of more of the younger generation, the pandemic gave them time to reflect on their priorities, with the verdict falling mostly to sustainability and innovation.

With this in mind, brands should look to create made-to-order items and introduce subscription models, where applicable, into their business offering.

To incentivise loyalty, discount codes and loyalty programmes can also be introduced, which are proven to be effective when it comes to retaining customers, with as many as 84% of consumers saying they would remain loyal to a brand that offered a decent loyalty program.

The New Romantics

This particular group of consumers are swayed by their emotional connection to a brand and, after the pandemic, wish to reconnect with their emotions while working towards an enhanced sense of local community.

In order for brands to appeal to this consumer group, they need to create either services, or a customer service model that allows the consumer to create more emotional ties with the brand.

Over the past few years, subscription-based businesses have experienced exponential growth and, during 2020, they reported a further revenue growth of 11.6%, demonstrating a clear desire from a particular audience pool.

The Impossibles

With a particular focus on diversity and equality, businesses looking to cater to this audience should place particular efforts in ensuring their supply chain is ethical and should utilise advertising platforms to spread this message to their consumers.

Transparency is also key – and therefore, you should make sure your business properly communicates its vision, values and policies within all online marketing and advertising activity.

To ensure you’re effectively targeting your chosen audience, you should look at which advertising platforms you’re currently using, and whether you’ve set up specific targeting campaigns.

For example, if your goals are centred around building stronger and more meaningful relationships with your clients, I recommend harnessing the power of social media advertising, as it can help to open up doors for conversations with your customers.

Similarly, personalised Google Ads can also be effective in making a consumer pool feel seen and heard – you just need to take the time to fully understand them and their needs before putting a campaign together.

With the right knowledge of your audience, targeting, and ultimately converting, your prospects in the following weeks, months, and years will become easier and allow for increased successes as you move your business forwards.

For more information on how to prepare your digital marketing and PPC strategies for the years ahead, get in touch with Diginius by visiting its website.

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Power Digital is a Marketing Agency that is data driven and ROI focused. Our team consists of highly specialized marketing professionals who are proven at the large agency level and are experts in their fields. Power Digital's mission is to move away from the standardized "one size fits all" marketing approach and deliver customized solutions with measurable results.

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MARKETING STRATEGY

Fundamentals of Distribution Marketing

Article | December 23, 2021

Are you looking to expand into new markets, boost your sales pipeline, and increase conversions? Whatever your business growth objectives are, a distribution partnership is your answer to all of them. Why are distributors becoming a vital component of business expansion strategies and what is the importance of distribution in marketing? Let us take a look. Distribution Marketing Channels: Achieving More with Distribution Partners The process of making a product or service available to a consumer through a direct channel such as a manufacturer or an indirect channel such as a distributor constitutes a distribution marketing strategy. B2B marketers decide on which type of distributor channel they want to use based on their product and the revenue targets they have in mind. Global suppliers have eroded margins and created an explosion of products catering to even the tiniest market niches. They have disrupted local markets. Consequently, sophisticated logistical systems have been developed to shorten delivery times. Businesses have expanded their distribution network to get closer to their B2B clients. The following statistic says a lot about why B2B businesses are keen to embrace distribution marketing and develop their indirect distribution network. 75% of the world’s commerce is transacted indirectly, meaning goods are sold through distribution channels. (Source: Forrester) In this article, we will be focusing on distribution partners, as channels of distribution marketing, and how they are creating a foundation for businesses like yours to expand and grow while helping you bring your products to your target customers. Distribution Marketing Strategy: Types of Strategies & Things to Consider B2B businesses embrace a new channel of distribution marketing or improve their existing one based on their marketing and management requirements. You can consider going down the same road if you have a new customer segment in mind, are planning to release a new product or want to aggressively grow your revenue. Here are the broad types of distribution in marketing: Direct channel: A direct sales channel is any company or manufacturer that creates its product and sells it directly to customers without the involvement of third parties or intermediaries. The product is sold through a shop, online channels, door-to-door or through any other method. Indirect channel: An indirect sales channel is comprised of—distributors, wholesalers, retailers, and VARs (value-added resellers)—who sell products made by other companies. At times, there may be more than one middleman between the consumer and the product’s producer. Apart from these two main strategies, there are other specialized strategies that fall under these categories, like exclusive distribution, intensive distribution, selective distribution, dual distribution, and reverse distribution. Of these strategies, manufacturers use the product distribution strategy that suits their product and revenue goals the most. Consider the following factors when planning your distribution strategy in marketing: The Type of Product You Sell Your distribution channel marketing strategy should depend on the type of product. Purchase decisions that customers make are classified into three types: routine, limited, and extensive, based on the number of times businesses buy a product, its cost, and the time taken by the customer to make a purchase decision. Capitalize on this information and decide on the strategy that will work best to position your product. Customer Base Based on the types of purchase methods that your target demographic may use, where they make their purchase decisions, and what kind of technology influences them, you need to choose your distributor. Ensuring that your customer base gets access to your product based on its preference is crucial to attracting customers to make a purchase. Logistics and Transportation Whether you sell a software product to streamline business processes or spare parts that automobile businesses require, your product needs to reach your end user safely and on time from locations where your distributor stores it. Understanding a prospective distributor’s logistics and transportation capabilities should be a priority while finalizing a distribution strategy in marketing. Focus on cost-saving and increasing revenue while choosing your distributor. A Strong Game Plan & Bigger Market Reach with Distribution Partners Product, place, price, and promotion are the four Ps of marketing. A B2B company cannot successfully sell its product or service unless it determines its four Ps. This is where distribution comes in. It is the ‘place’ part of every marketing strategy. Distributors are channel partners who are experts at getting your products into as many markets as possible as quickly as possible so that they can be used by end customers. There are tactical and logical advantages to having a strong distribution partner network. Let us explore them in brief. You Can Focus on Your Expertise Your expertise lies in creating the product. Setting up a sales system to facilitate end customers doesn’t categorically fit your skillset. With the help of a good distribution partner, you can limit your sales risk and use your time and resources to make your manufacturing processes and techniques more efficient. Streamline Market Expansion Selling to a new geographical market with the help of a distribution channel partner who has an established retail network can instantly get you more leads and boost your sales. Especially when entering a new international market, you can trust your distribution partner to take care of international trade law compliance, shipping and customs laws, and the culture of the new market. Limited Involvement in Customer Service Distribution marketing reduces your involvement and investment in customer service considerably. All you need to do is be in touch with your distributor partner. You don’t have to think about exercising administrative duties and investing in operations because your distributor will be your face while dealing with end customers. Distribution Partners Fire-up Your GTM Strategy In your go-to-market strategy (GTM), your distribution partners can market your product to large numbers of geographically dispersed customers. Distributors, especially VARs customize your product and complement it with prompt support and specialist services. Here’s how you can go-to-market confidently with the help of distribution partners: After you segment your target market into customers and prospects, identify which of these segments you can reach with the help of distributors. They can utilize their customer base to get you sales in territories with good sales potential. Distributors with experience can cover the market sectors you want to target. Choose distributors who do not market products that compete with yours. To get the most out of the channel partnership, describe the market opportunities for the distributors and talk to them about what you expect and what you need from them. Decide on whether you want to share marketing rights with distributors. Create solid and binding commercial terms such as stock levels, discounts, selling prices, and marketing support beforehand so the distributors are motivated to give their best to sell your product. Distributors develop sales and marketing plans, provide support in the form of marketing collateral, funds, or marketing campaigns. To support their efforts, run marketing campaigns that target your customers and promote your distributor network. Communicate the advantages of buying from your authorized distributors so that you can create and maintain sales leads for your entire distributor network to make your GTM a success. Distribution Management: Refining Distribution Partner Performance Just as it is important to set up a distribution network, it is also important to manage it, optimize it through consistent efforts, and make sure it is a smooth-functioning ecosystem. Managing distribution businesses can empower your distribution teams to manage distributors and the way they sell your product. They can also enable partners to do more for the sales. Distribution management can be streamlined using a distribution management system (DMS). With the help of the following features, this platform helps you run your distribution network well: Partner Recruitment Easily deploy partner recruitment campaigns through single or multiple distributors. Target specific groups of partners through these campaigns to get them involved. Partner Onboarding Help your distribution partners bring on channel partners for short-term channel programs with high returns and low costs. Partner Training Enhance partner competency and development using partner training through the DMS system. Pipeline Management Keep track of how each distributor contributes to your pipeline growth and engage with distributors to increase revenue. Partner Enablement Use your distribution partners to drive multi-partner demand generation activities with co-branded content that your channel marketing teams create. Partner Incentives Deploy partner incentives to motivate distributors and partners they manage. Review their performance and approve their claims. Performance Optimization Get insights into how distribution partners are selling through business analytics and reports so you can accelerate sales, and in turn, boost your revenue. When you use a good distribution management system, you can manage multiple stakeholders, including resellers, distributors, and partners, along with your internal marketing, sales, and finance teams. Your distribution teams can look at sales through distributors and forecast future performance and partner pipelines. They can also use the system to run different programs and campaigns to meet the changing needs of their business. A U.S. Manufacturer Uses ZINFI Platform for Efficient and Effective Channel Marketing VERSATEX, a PVC building products manufacturer, used ZINFI’s partner portal to streamline its marketing so its partners could be more engaged. "We are using the ZINFI portal as our VERSATEX CRM, and it's been working out amazingly. We can track how the salespeople in the field are selling and quickly determine what's working and what's not," said Cassidy Huff, Channel Marketer at VERSATEX. Summing it Up A distribution strategy can revolutionize the way you sell your product in different markets. With the correct distribution channel and strategy, your product can reach your buyer considerably more quickly and help you achieve your revenue goals. FAQ What is a distribution channel? A distribution channel is a network of intermediaries like distributors, wholesalers, retailers, manufacturers, and VARs that a company uses to get its product to its end user. What is the impact of distribution management on business? Efficiently managing distribution partners boosts company sales and profitability as it helps businesses streamline how fast and efficiently they distribute their products in the market. What is the difference between direct and indirect distribution channels? In a direct distribution channel, a company allows its manufacturer or service provider to deal directly with the end customer, whereas in an indirect distribution channel, a company relies on a network of distributors, wholesalers, and retailers to sell its products.

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MARKETING STRATEGY

Kentucky Teen Once Subject of Viral Video Warns Republicans of 'Outrage Mob'

Article | December 20, 2021

A Kentucky teen who became the subject of a viral video after an incident during a class field trip to Washington, D.C., warned viewers of the Republican National Convention Tuesday of an "outrage mob" that threatens to silence conservative viewpoints. After Nick Sandmann attended the March for Life anti-abortion rally with his former classmates from Covington Catholic High School in January 2019, a cellphone video of a close, face-to-face interaction between the students and a Native American demonstrator spread quickly online.

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How Community Coalitions Are Bridging the Digital Divide

Article | December 22, 2021

Across the country, local networks known as Education Innovation Clusters (EdClusters) are bringing together partners and resources to meet urgent needs and envision a new future for teaching and learning. Many of these efforts are rooted in long-standing partnerships across sectors and institutions. As COVID-19 disrupted the lives of students, educators, and families earlier this year, EdClusters sprang into action, leveraging their capacity and reach in ways their networks were uniquely ready to do. Their collective efforts are meeting a range of needs—from internet access to devices to social-emotional supports. As schools prepare for uncertain and complex reopenings, we turn to Kansas City and Rhode Island for powerful examples of community in action.

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How Educators Kept Students on Track During Remote Learning

Article | August 21, 2020

This spring, COVID-19 led administrators across the country to close school buildings and support students learning from home. We asked three educators about how they handled this disruption and found creative solutions to keep students motivated and engaged using the online literacy program, Reading Plus. We looked at what we had at our disposal that would help with reading, the overall environment, and engagement. In the past, we used Reading Plus as an intervention. We considered how we could utilize it with more students during distance learning.

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Spotlight

Power Digital Marketing

Power Digital is a Marketing Agency that is data driven and ROI focused. Our team consists of highly specialized marketing professionals who are proven at the large agency level and are experts in their fields. Power Digital's mission is to move away from the standardized "one size fits all" marketing approach and deliver customized solutions with measurable results.

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Bigger growth opportunities beckon for partners who rewrite the rules of cybersecurity with Infoblox

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Bigger growth opportunities beckon for partners who rewrite the rules of cybersecurity with Infoblox

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