Audience, Assets, Access, Attribution and Automatization are the five pillars of marketing transformation, according to Lizard Global. By developing an approach around each pillar, companies can become digital transformation champions, delivering enriched customer experiences and improved business performance. The e-commerce explosion and e-commerce marketing continue to drive Marketing Transformation.
Marketing Transformation: E-Commerce Will Continue to Transform the Marketing Discipline…
E-commerce continues to be a key growth driver of the marketing and advertising ecosystem. It is bringing about changes in marketing which many experts liken to the advent of the Internet in the nineties. Worldwide e-commerce sales are forecast to grow from US $5.2 trillion in 2021 to over US $8 trillion by 2026, according to Statista. In the U.S. , after years of very high growth rates, for 2023 Insider Intelligence expects Amazon’s e-commerce sales to cool significantly following pandemic highs (42.0% growth in 2020 compared to 2022’s 10.3%). However, a steadily expanding online retail marketplace should propel Amazon’s advertising and other retail media companies advertising businesses to even greater heights. Third-party merchants are responsible for nearly 60% of the transactions on Amazon’s e-commerce sites.
Digital Marketing Transformation Challenges: Understanding the Role Multichannel Advertising and Content Marketing Play in Driving E-Commerce
Capturing the opportunities related to the shortening of the consumer purchase journey brought about by e-commerce is crucial. Challenges include understanding better the role of multichannel marketing and advertising in fostering e-commerce. Brand marketers need to have thorough advertising attribution methodologies for D2C e-commerce and online…