Modern, measurable marketing. Sounds like a catchy tagline. But what is modern marketing? Great question. At Lake One we have a strong opinion about what modern marketing is and are often asked about it. Whether it’s what exactly would you say you do?
Or more directly, what is modern marketing?
- What is Modern Marketing
- Why does modern marketing matter to business?
- Build a Tech Stack
- Building a team
- Measuring Marketing
- Modern Marketing resources
What is modern marketing?
We consider modern marketing any strategy that leverages a measurable, scalable approach to understanding audience/product alignment. What we mean by this, is that modern marketing is always striving to achieve two things.
First, to be accountable to the question of what did marketing deliver. Either in a financial return or measurable learning about a market.
Second, marketing should seek to drive scale and efficiency. We’re not looking for a one-hit wonder.
Marketing today doesn’t have to be black magic. We don’t have to guess. With the democratization of complex analysis and machine learning, we’re able to learn quickly what works and what doesn’t work, whether we’re online, offline, or on the go. Yes, there is still a place for great branding and brand strategy, but modern marketing seeks to scale and create efficiency in the lessons we learn along the way. Ultimately, this is where you start to see the kind of hyper-growth emerging from the startup community.
Leveraging the metrics-driven mentality and a desire to find avenues that can scale, modern marketing allows businesses to learn what works fast, and then ramp that up as sales and revenue follow.
Modern marketing in this sense is no longer the traditional marketing method where an ad was created and then that was that. Modern marketing is about customer experience at every touchpoint, building relationships with customers, adapting continuously the new digital landscapes, and marketing across multiple channels to reach different consumers. Modern marketing is personal. Traditional methods still matter, but they must be incorporated into modern marketing strategies. Building a modern marketing plan requires several components: (1) Tech Stack; (2) Skills (3) Team; (4) Measurement; and (5) On-going education. This guide will touch on each of those. But first, we need to address something else.
Modern marketing understands that buyers have changed. Modern marketing focuses on – you guessed it – a modern buyer