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Marketing Trends

NVISION Insights and Innovation Team
In CMO, Marketing ROI, Marketing Trends, Digital Marketing, Marketing Performance Measurement, Marketing Operations, Marketing Strategy, Accountability

Top Ways ABM Is Creating Opportunities for CMOs

Think of traditional marketing as fishing with a net – designed to reach as broad and wide as possible to snare any potential deals of all sizes. This works well if your goal is not to miss any opportunities but ultimately leads to significant waste.

Then there is ABM or account-based marketing. Compared to traditional marketing, ABM is like spearfishing – targeting only the ideal accounts that are most likely to close and/or generate the most revenue. That’s why, according to a recent report by ITSMA, 87 percent of companies state that ABM delivers a higher ROI than traditional marketing.

So, why should CMOs care about ABM in 2019? Jon Miller of Engagio explains some of the best reasons.

professional meeting - ABM

Better Alignment With Sales

One of the most common frustrations CMOs face is a lack of alignment with sales teams. With different goals, KPIs, and responsibilities, marketing teams often find themselves pursuing one thing while sales is actively pursuing another.

The result? Your prospects receive mixed messages and inconsistent marketing materials. That weakens your brand. But with ABM, marketing and sales are more fully aligned. With a small selection of specific, hand-picked accounts, CMOs can produce marketing materials that are more personalized, targeted, and branded just for those accounts. Marketing and sales are now working in tandem, sharing the same goal of landing those identified accounts.

And that means better ROI for CMOs. In fact, according to SiriusDecisions, sales and marketing alignment can drive up to 36 percent more business growth and 27 percent faster profit growth.

Stronger Brand Recognition

Related to the “waste” associated with traditional marketing methods mentioned above, even the strength of your brand can get lost in the shuffle. For every mass email blast that reaches an audience it wasn’t intended for, your brand is seen as inaccurate, irrelevant, or – worst of all – pitching a message that you did not intend for that customer to hear.

“ABM allows [CMOs] to establish and cultivate trust with your customers, thereby building a strong brand over time,” Miller explains. “If you take the time to utilize the core tenants of ABM, and send a personal and relevant message to a targeted audience,” you are able to portray your brand as an authority, a trusted advisor, and an approachable resource. That specificity and intentionality strengthen your brand.

brand idea poster - onsite services

Marketing Guides the Customer Journey

ABM is a “land and expand” type of strategy. It involves identifying and targeting accounts that are not only ideal new customers but that present likely upselling and cross-selling opportunities as well. “ABM guides intelligent account expansion at existing customer accounts,” Miller says. “In ABM, all customer-facing teams work in harmony to ensure a buyer’s experience is positive, consistent, and in context with the rest of the account.”

This means that ABM uniquely puts CMOs in charge of creating the customer’s journey since CMOs are the best-qualified people in most organizations to safely steward the brand’s identity and value propositions across multiple channels.

“It is about providing a holistic view of each account, coordinating interactions across departments for every stage of the customer experience, and measuring results with an account-centric lens,” Miller continues. “The right person to own the coordination and orchestration of the relationships is [the CMO] because they have the technology and skills to do so.” ABM presents savvy CMOs with an opportunity to apply their strategic expertise to real-world account-based campaigns.

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Account-based marketing, or ABM, is changing how marketers generate leads for the better. With this new focused, granular outlook, ABM presents CMOs with several exciting opportunities to improve both the public perception of their brands and the operational effectiveness of their marketing departments. And that can lead to better ROI, more qualified leads, and stronger revenue forecasts.

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For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Building Products, Marketing ROI, Marketing Supply Chain, Marketing Trends, Digital Marketing, Marketing Performance Measurement, Marketing Operations, Marketing Strategy, Accountability

The Top Building Materials Trends for 2019

The 2019 NAHB International Builders Show is around the corner and NVISION is gearing up to be there!

S&P Global recently released its Building Materials Industry Top Trends 2019, highlighting some of the key trends, takeaways, and forecasts the building materials industry will be keeping its eye on this year, and especially at IBS 2019.

Based on the trends report, here are our three key takeaways that all building materials industry leaders should know!

steel rods - building materials

Commodity Costs Will Continue to Grow

As the report points out, commodity costs for the building industry in North America rose in 2018 for several reasons, including decreasing unemployment, new tariffs, and increased demand. And S&P Global expects those same factors to continue to drive commodity prices up in 2019.

“So far, most building materials companies have been able to offset the cost increases with higher pricing, but it remains to be seen if companies can continue to maintain higher prices in 2019,” the report says. With S&P Global predicting a 3 percent increase in building materials costs in 2019, the building materials industry will need to look at cutting costs and optimizing their supply chains to offset this increase in prices and maintain their margins without continuing to raise prices.

Increased Prices Could Slow the Building Materials Recovery

As the report states, low inventory, higher home prices, and higher interest rates may be pushing marginally qualified homebuyers out of the North American market. This, S&P Global says, could bring a halt to the building materials recovery. “Existing home sales (a big driver of repair and remodel activity) could slow if values remain high and available inventory low,” the report claims. With fewer pre-existing homes being purchased, fewer old houses will be getting remodeled and repaired by new homeowners, and that means less business for building materials companies.

With building materials companies competing for homeowners with fewer dollars to spend – or with new construction townhomes that don’t need remodeling – they will need to find other ways to protect their margins, including finding ways to cut costs and compete on the customer experience with enhanced agility and responsiveness.

home building site

The Building Materials Market is Healthy, But with Growing Risk

When it comes to the numbers, the S&P Global report predicts modest growth in the North American building materials market. “We expect 2.3 percent real GDP growth, 3.6 percent unemployment, and 1.3 million housing starts. We further expect mid-single-digit growth in repair and remodeling activity, and only 2.8 percent growth in nonresidential construction,” the report states.

As a result, S&P Global is predicting another year of improved sales and earnings for building materials companies. But, the report says, “with much less growth than in 2016 and 2017.”  What’s more, due to the affordability and availability issues of new homes mentioned above, S&P Global warns that housing starts could actually retreat slightly in 2019. To combat this problem, many builders will “attempt to address this by offering more value-based entry-level housing,” which will present an enormous opportunity to building materials companies who are able – thanks to a nimble, efficient supply chain – to offer reduced prices on materials and faster delivery timelines.

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The 2019 NAHB International Builders Show promises to be one to remember. With these trends in mind, building materials companies will want to be on the lookout for experienced partners who can help them cut costs and better optimize their supply chain management in order to capitalize on this shifting market.

NVISION will be there, and we hope to see you!

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For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Marketing Trends, Digital Marketing, Marketing Operations, Marketing Strategy, Retail Trends, Online shopping, E-Commerce

Looking Ahead: What Winning Customer Experiences Will Look Like in 2020

With 2018 in the books and 2019 officially here, smart brands have already begun looking forward to 2020, and the biggest trends for the coming year. And one of the most significant areas where brands are looking to set themselves apart from the competition is with personalized customer experiences.

In fact, according to a recent report by Econsultancy:

  • 86% of customers prefer brands that offer personalized experiences, even if that brand isn’t the cheapest.
  • 73% of customers call customer experience an “important factor” in their purchasing decisions.
  • 65% of customers say that good customer experiences are more important than good advertising.

So, how can savvy marketers and brand directors capitalize on the biggest customer experience trends of the coming year? According to Mark de Bruijn of The Future of Commerce, there are three areas CMOs and decision-makers should focus on.

Let’s take a look at them.

interactive shopping experience-girl touching touch-screen

Hyper-Individualization of Retail Experiences

Thanks in large part to the increase in connected technology known as the “Internet of Things,” brick-and-mortar retail spaces will compete with online shopping by offering unique in-person experiences. How will such a connected retail store look in reality? De Bruijn offers the example of a shoe store.

“The moment a customer passes the store, he or she should get a personalized deal offer on their smartphone, letting them know that the newest edition of their favorite shoe is on sale for 20% off, and is available in-stock at that store, right now,” he explains. But the opportunity for personalization goes further. That customer can then enter the store, and “get measurements on their walking patterns, soles, and weight. Based on that data, they can get advice on the footwear that best suits their needs.” That is an engaging, personalized customer experience worth coming into the store for.

Putting the Customer at the Center of the Product Cycle

Plenty of companies use focus groups and market research during the research and development stage of a product. It’s an excellent way to make sure you’re giving your customers what they want. But what if you could solicit customer feedback and make improvements during the product lifecycle? That’s what brands like Tesco and Burberry are doing with their customer experiences.

Fashion retailer Burberry invited customers to share the ways they personalized their famous Burberry coats, snapping pictures of clever uses and various ways to wear them. Burberry then took several of the most popular suggestions and used them in marketing materials, from print images of models showing the coats worn a certain way to in-store mannequins featuring them.

Burberry saw a 36% rise in sales of their coats during the campaign. Your products should be designed with your customers in mind. Now, you can make sure your customers know it.

augmented reality mobile for shop - retail continuity

Virtual Reality Blending In-Store and Online Experiences

One customer experience trend that will carry over from 2018 is the rise of virtual reality (VR) in shopping. But as de Bruijn explains, retail brands will soon be using VR to bring the in-store shopping experience online. “Consumers will not just use [VR] for gaming, but also for home shopping sessions. They can literally walk through the virtual store from the comfort of their couches,” he explains, adding that retails gain an edge, too. “Retailers will enjoy the traditional advantages of brick-and-mortar stores in an online setting: the element of surprise, the ability to steer impulse buying and strategic product placement.”

Meanwhile, de Bruijn says, brick-and-mortar gets the customization treatment from VR. “The digital setting also offers a unique feature that is not available for brick-and-mortars. The store’s layout and even the inventory are fully customizable to the preferences and habits of the individual customer.”

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2020 is shaping up to be a big year for retailers and marketers. Big on keeping the growing importance of personalized customer experiences in focus, brands can compete and win by delivering truly engaging, winning shopping experiences.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In CMO, Marketing ROI, Marketing Trends, Digital Marketing, Marketing Performance Measurement, Marketing Strategy, Accountability

Gartner: Three Tips for Building an Agile Marketing Culture

The landscape for marketers is changing more rapidly than ever. And for marketing leaders who feel like their teams and resources are already stretched thin, this can be a daunting reality. But, one of the best ways to plan for this reality, and to prepare your organization to maximize marketing resources is to develop a marketing culture around agile thinking.

That’s according to Marc Brown at Gartner, who explains that today’s marketing leaders can cultivate an agile culture – and agile thinking – by focusing their attention on three key areas: Skills, Data, and Operations. So, what does that actually look like for real CMOs and marketing directors?

Let’s dive in.

professional meeting - a woman presenting

Build Your Team with the Skills to Match Your Vision

Nearly every member of your marketing team probably has different skills. From copywriters to designers to marketing automation experts, your marketing department is more than the sum of its parts. But just as each member of your team has different skills, so too does each marketing department have a different overall vision for success. And that vision should shape the skills makeup of your team.

Marketing visions can vary vastly from team to team,” Brown explains. “Assembling a team with a unified vision all starts with the recruiting process.” To this end, Brown recommends taking the time to put down on paper exactly what your team’s vision is – what metrics success will be judged by, what key goals you will hope to achieve, etc. Then, Brown recommends recruiting “T-shaped” team members, or team members who possess a broad breadth of skills while also demonstrating deep expertise in a single specific area. According to Gartner’s 2017 Marketing Organization Survey, 53% of modern marketers are already “T-shaped,” so developing your perfect team is mostly a matter of mapping everyone’s skills to your larger team vision.

Data is the Foundation of Agility

As Brown explains, one of the fundamental characteristics of an agile marketing approach is constant iteration and analysis. What’s working, what isn’t, and how closely are you measuring it? “For a marketing team to break the norm and boost engagement, they must first understand exactly what ‘the norm’ is,” Brown says. “Agile marketing’s iterative approach enables you to incorporate data and insights into your planning on an ongoing basis.”

Gartner specifically recommends using your customer data to create a multichannel 360-degree of your customer’s journey, from Buy to Own to Advocate. “Using this data is key to understanding pain points. You can’t find innovative solutions if you don’t understand the common snags in your systems, customer behavior, and shopping trends,” says Brown. If you want to build an agile marketing team that can respond to new trends at a moment’s notice, you must first establish the data practices to discover them.

Agile Operations Are Not Always Linear

Part of shifting to an agile marketing mindset is adjusting your expectations for your operational workflows. Traditional marketing operations tend to conceptualize these processes as flowing naturally, step-by-step, from something like Strategy to Research, Design, Deploy, and finally, Measure. But as Brown explains, agile marketing operations look very different.

“It’s better to view the process as a loop to continuously facilitate collaboration, ideation, development, execution, and measurement.” This, Brown says, is to account for the fact that no team can ever predict all the ways and areas where optimization has opportunities to improve the process. “Although it may seem like these processes naturally flow from one stage to the next, there’s never a one-size-fits-all formula. Certain stages may be conducted simultaneously in order to view the situation from all angles, or to reevaluate a plan or to pivot and adjust direction.”

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An agile marketing mindset helps marketing teams position themselves for future success in a quickly-changing landscape. But to put themselves in a position to respond with agility, marketing leaders must take steps now to build and establish an agile mindset. By focusing on Skills, Data, and Operations, smart CMOs can do just that, today.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Marketing ROI, Marketing Trends, Marketing Performance Measurement, Marketing Strategy, Online shopping

Belief-Driven Brands: Reshaping Retail Landscape in 2019

be the change - brand activism

Consumers today are more plugged into social issues and concerns than any group since the 1960s. And that impacts the way they shop, too. That’s according to a new Edelman’s report  “Brands Take A Stand,” which examines how belief-driven purchases are reshaping the retail landscape in 2019. So, how can brands take a stand in the new year, while also helping their bottom lines stand tall?

gen-z-holding arms together

Brands Can Drive Revenue by Standing for Something

For a long time, the prevailing logic was that a brand’s marketing should not ruffle any feathers. If there was political or social turmoil in the air, your branding should avoid it, and instead focus solely on the merits of your product. But as the name of the Edelman report suggests, the market is changing, and brand marketing is changing with it.

“Consumers’ purchases are becoming more and more belief-driven, particularly over the past year,” the report states. “In every market surveyed, more consumers were taking a brand’s mission and activism into account when making decisions about what to buy.” The report suggests that not only should brands not avoid social activism, but in fact should embrace it as a new driver of revenue in 2019.

“Taking a stand, no matter the cause is no longer something brands can shy away from if they want to be at the forefront of consumers’ minds,” the report says. And Edelman CEO Richard Edelman agrees, saying that “purchasing activism” is a simple and effective way for shoppers to feel like they’re making a difference.

“People go with their pocketbooks, in a way,” Edelman explains. “They want business to take the lead on change, and they want to feel as if they’re making an impact.”

green initiative-sustainability

The Bottom Line is The Bottom Line for Brand Activism

Brands used to steer away from activism because it would hurt their bottom lines. For each shopper who was happy with that brand’s stance, there were likely to be two or three more who either didn’t care or chose to boycott the brand for that same stance. The numbers didn’t pan out. It just didn’t make good business sense.

But all that has changed, as the cultural zeitgeist has shifted back towards activism, especially as Millennials and Generation Z make up more and more of the market (approximately 40% of all consumers and over $1.4 trillion in buying power by 2020). And, according to the Edelman report, businesses can now bolster their bottom lines by investing in brand activism.

The report reveals, 65% of global consumers are making belief-driven purchases. That’s a 50% increase over last year – an enormous shift. It also found that an estimated 57% of American consumers are currently buying or boycotting at least one brand because of its position on social issues. A similar study by Havas Media reports that belief-driven brands outperformed the overall stock market by 120% this year and that the top 50 belief-driven brands outperformed the overall S&P 500 index by more than 1200%. The bottom line is clear: for brands, the time is now to take a stand and bolster revenue with belief-driven marketing.

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The common marketing logic for brands used to be avoiding activism and belief-driven advertising. But not anymore. Today, brands must take a stand to win an ever-increasing portion of the consumer population. By doing so, they can not only improve their revenue but can win lasting, powerful brand loyalty that is built upon something greater than the color or quality of a product.

And that’s the bottom line.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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