The State of Marketing Report 2023

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In the contemporary digital era, the significance of robust, consistent, and adaptive marketing strategies cannot be overstated. The current global economic climate, characterized by inflation and financial volatility, necessitates strategic alterations in corporate financial blueprints. During such economically challenging times, a consistent marketing strategy can substantially bolster your brand’s market presence. 

This comprehensive analysis aims to elucidate the potential of regular, effective, and platform-specific content in augmenting the returns on your marketing investments. We are confident that our insights will serve as a valuable guide in refining your marketing strategies for maximum impact and ROI. At GetGenius Inc., we are committed to helping you unlock the full potential of your marketing efforts. 

Marketing Landscape

A fundamental principle of marketing suggests a robust correlation between a brand’s market share (SOM) and its share of voice (SOV), which represents the proportion of promotional spending by the brand. Specifically, when a brand’s SOV exceeds its SOM, there is typically an increase in the brand’s market share. Conversely, if the SOV is lower than the SOM, the brand’s market share is likely to decrease in the following year. This principle is applicable in both Business-to-Consumer (B2C) and Business-to-Business (B2B) contexts.  

Therefore, it is imperative for companies to consistently invest in their marketing activities and maximize brand visibility through owned digital properties (e.g., blogs) and social platforms.

In fact, a study from Hubspot further indicates a competitive race for the highest ROI among blogs, social media, and influencer marketing, each claiming a 9% share. This data underscores the importance of diversifying your marketing mediums to maximize ROI and reach a broader audience. However, video as a media format outperforms other formats with an impressive ROI of 25% respectively. In the realm of social media, Facebook leads the pack with a 22% ROI, closely followed by YouTube, Instagram, and TikTok, each contributing a 16% ROI. Interestingly, research shows that tailoring their content to each social platform can significantly boost your ROI up to 27%.

Case Study

Overview

This case study illustrates the potential increase of ROI with a hypothetical company.

The company possesses the following attributes:

     

      • 1 Blog with 1,000 monthly visits

      • 5 Social Accounts (Facebook, Instagram, YouTube, TikTok, LinkedIn) with 1,000 followers each

       

        • Posts only one media format

        • Average ROI of 3%

      Simple Maths

      MonthlyReachROI
      Leads
      Blog1.0003,00 %30
      Social Media5.0003,00 %150

      WeeklyReachROI
      Leads
      Blog4.0006,00 %240
      Social Media20.0006,00 %1.200

      DailyReachROI
      Leads
      Blog28.0009,00 %2.520
      Social Media140.0009,00 %12.600

      While it is evident that with other factors remaining constant, the reach and consequently the number of leads increases, it is crucial to note that in reality, the ROI of weekly postings is already up to 2x higher than the ROI of monthly postings. In addition, the company reaches the maximum of 27% ROI by tailoring platform-specific content and posting daily.

      Considering this, we can conclude:

      Monthly TailoredReachROILeads
      Blog1.0009,00 %90
      Social Media5.0009,00 %450

      Weekly TailoredReachROI
      Leads
      Blog4.00018,00 %720
      Social Media20.00018,00 %3.600

      Daily TailoredReachROI
      Leads
      Blog28.00027,00 %7.560
      Social Media140.00027,00 %37.800
      Total168.00045.360

      Reaching 168,000 individuals from 5,000 followers is achievable by posting content daily. Additionally, companies can significantly benefit from the improved ROI and can substantially enhance their marketing cycle by tailoring content. In this example, we reached an improvement of 251%.

      Conclusion

      In conclusion, we can say, that consistent and strategic marketing efforts are of a pivotal role in driving brand visibility and market share, particularly in periods of economic uncertainty. In essence, the future of marketing is poised to be more dynamic, data-driven, and digitally advanced. In the light of data-driven and automated processes, the increasing accessibility of sophisticated AI tools will enable companies to manage their extensive activities more efficiently.

      Diversifying marketing channels and tailoring content to each platform will be essential for the maximum impact and ROI.