By Mark Walker.
2018 will be a pivotal year for digital acquisition. The cleansing nature of GDPR is going to see the consumer database size diminish in quantity but not in quality. Brands will start to see much higher returns from their acquired consumers. Conversion and engagement will rise and the desire to feed the top of the funnel will seep into the boardroom. More and more brands will look to bring consumers back, topping their numbers back up to pre-GDPR numbers. Some will go with the good (offering a true personalised digital value exchange), the bad (hiding content and experience behind a wall), and the ugly (sign up for 30% discount).
Brands that harness acquisition in 2018 have an opportunity to lead the way. Great creative that meets the consumer where they are while collecting data in an open and transparent manner will flourish. This is a time to break boundaries, try things not tested and engage prospects with campaigns built around influence, segmentation and storytelling. Offering a premise that consumers can engage with and believe in is the next step for brand purpose. Offer this and those consumers that engage will go on to become the most valuable leads and customers for years to come.
CMO’s should look to 2018 to shift their consumers’ behavior, acquiring consumers’ data and delivering back an engaging promise that turns prospects into leads and leads into customers. Customer lifetime value will increase and the marketing cost of each customer will decrease.
However, this doesn’t just happen on its own. To achieve it, growth-hacking brands must forget the bad habits of the past and embrace a more strategic, data-led approach. By identifying the trends and insights acquired from their data, they will reveal opportunities to understand consumers better than ever before, learning what their customers and prospects are really looking for and how they can be nudged further towards it.
Acquisition and growth hacking will become central to many brands’ marketing plans in 2018. Those brands and agencies who can unite creative, branding, design, media, AI and data as a new mentality and skill will lay a foundation for years to come.