DIGITAL MARKETING
Compiled by Nimanthi Bandaranayake
CONSUMER BEHAVIOUR FUNNEL
Poorna Seneviratne sheds light on the evolving landscape of digital marketing
Q: How important is search engine and performance marketing in today’s context – especially with regard to digital marketing?
A: Search engine and performance marketing have been very important, particularly over the past two decades – and this has been growing over the years. People have a need for information that’s highly relevant to enable them to make their purchasing decisions much quicker.
From a business perspective, the importance of search engine and performance marketing cannot be overstated as they’re essential components of a successful digital marketing strategy.
Q: What measures should organisations take to keep abreast of the latest trends and changes in search engine algorithms and performance marketing strategies?
A: From a Sri Lankan perspective, most brands, or advertising or marketing agencies, keep pace with the latest trends by working closely with companies such as Google or Meta, and their direct partners – for example, ROAR and 3P Media.
These businesses have inside knowledge of new algorithms, products and strategies, which agencies and brands can apply to their advertising or marketing efforts.
Q: And how important is it for professionals in the field to prioritise keeping pace with evolving trends?
A: They need to put in the work to stay updated by self-learning, and attending conferences locally and internationally. Given how dynamic the digital sector is globally, if you don’t strive to update yourself, you’re guaranteed to be left behind.
Q: In your view, how should businesses integrate performance marketing strategies across different channels?
A: Every business has its own objectives and expected outcomes for its marketing strategy. Some sectors such as hospitality are driven by intent for the most part, which means that search engine marketing (SEM) is vital.
This won’t be the same for a B2B business. It also won’t be the same depending on the level of the marketing funnel that you’re focussing on.
It’s great to be informed about new strategies and marketing channels; but we must be mindful about understanding what channels work for us or our client’s business – because in the end, you want the best return possible for every rupee spent.
Having said that, there’s an important phase when integrating new performance marketing strategies: trial and error; or if you’re feeling technical, A/B testing.
Q: How do you see search engine and performance marketing evolving in the next few years?
A: SEM has reached a point where we can’t look beyond the next 12 months. The sector, technologies, regulations and consumer behaviour are evolving at a rapid pace, which is forcing professionals in the digital sector to stay on their toes.
Within the next 18-24 months, we will see more machine learning being incorporated in SEM. At present, we’re witnessing this on most advertising platforms, and it’s only going to be more enhanced and extensive.
Professionals in the digital space should broaden their learning to cover machine learning to understand how it can underscore advertising and marketing efforts. We can’t outrun technology yet; but we can embrace it to make the most of it.
Q: In your opinion, what should organisations do to adapt to strategies in response to changes in technology?
A: This might be an unpopular opinion but the marketing fraternity – including myself, brands, agencies and others – need to get ahead of the learning curve as soon as possible. To make this happen, all parties must be open to change.
The fear of change, and adopting new technologies and ideologies, holds most of us back. This is not to say that all organisations are the same – some may adapt quicker than others and that’s a natural process.
As an example, we have had the pleasure of working with a reputable team that is nailing their digital strategies but what they do for their brand is niche and they’ve found a sweet spot that works.
Accordingly, every business must find the right balance in strategy that works.
Q: Similarly, how should corporates look to respond to changes in consumer behaviour? And could you cite recent examples that demonstrate how businesses have adapted?
A: Consumer behaviour changes as much as technology does, if not more.
For instance, consumer behaviour changed dramatically in the digital space during the COVID-19 pandemic. Many businesses that could adapt did so by venturing online.
Other sectors such as travel and hospitality continue to benefit from post-COVID consumer behaviour, aptly called ‘revenge travel.’
Q: What do you consider to be among the most important factors in leveraging evolving consumer behaviour?
A: They say that knowledge is half the battle and this is true when it comes to adapting to consumer behaviour.
If you’re one of the first to understand the changes in your industry’s consumer behaviour, you must put yourself higher in the pecking order to benefit from it as a business.
