Marketers are extremely important for each organization that doesn’t have:
- an effective and steady flow of inquiries
- a reseller partnership that takes care of the process
- a workflow that isn’t designed for growth
Certain industries can leverage marketing better and are in a position to generate massive revenues with the right marketing strategy on the table.
According to HubSpot, the top two marketing challenges for businesses are:
- Generating traffic and leads (63% of respondents)
- Proving the ROI of marketing activities (40%)
This is particularly interesting when you consider the fact that nearly 2/3 of the businesses struggle with growing traffic and securing enough leads. However, 40% of them cannot generate a good ROI on marketing activities or fail to measure the effectiveness of their ongoing marketing campaigns.
With regard to specific industries, there are reportedly five industries getting the highest ROI from digital marketing:
Some are B2B oriented while others focus on B2C (excluding partnerships).
Content marketing is an inseparable part of running marketing campaigns. Here are the 7 best industries for content marketing:
- Medical and Healthcare
- Repairs and Renovations
- Other Professional Services
- Local Businesses
- Ecommerce Stores
- Real Estate Services
If we exclude the first three categories—businesses that sell in marketplaces, have strategic partnerships doing marketing and sales on their behalf and small consultancies that are comfortable with their workflow, marketers need to come up with a solid plan that focuses both on short-term wins, and long-term marketing goals.
This is where most of the marketers fail to deliver. They either focus on quick wins which reflect on the ongoing growth, or (rationally) want to revamp the entire process before moving forward.
A research study covered by John Ellett on Forbes states that “almost half of the 30 largest U.S.-based retailers are experiencing CMO turnover”. When we account for the lack of ROI measurement by 40% of the business, CEOs and top-level management define a large set of KPIs that CMOs and marketing directors need to keep into account when stepping in.
The ability to move fast and generate results over the first months is a chore for many who can’t contribute enough in a short amount of time. Moreover, many traditional marketers have a hard time balancing the creative end of marketing with the analytical, data science aspect of things—being the measurement and refinement of certain marketing campaigns.