In this day and age, marketing is more advanced than it ever has been before. Even though the marketing field has made many advances over the years, these firms still face challenges. In this article, the challenges faced by world marketers will be addressed and explained. Let’s go a little deeper into these challenges to find out why they are challenges in the first place!
World Marketing vs Local Marketing
The bigger the operation is, the more moving parts it has to keep track of. The advancement of technology has made it easier to gather data and expand the reach of the global marketer. The connection between nationwide campaigns and localized campaigns tend to be the biggest point of contingency for the firms.
In most marketing campaigns, the larger firm will give creative control to the local firms. The tricky factor to consider in this approach is that it’s important to make sure that the local firm’s voice is heard, as well as the world marketing firm because the two voices have to line up with the overall message they are trying to promote. A lot of campaigns have a sector for “adapt and adjust” to which they make changes to align the visions together.
Tailored Approach
A concept that is well received in one territory might not work for another. It’s important to get a well-rounded understanding so that these ideas and concepts can be adapted to fit what the customer wants. This is why the connection to local marketing firms is so important. These firms have an understanding of the local market and can determine what works and what does not. In turn, this will save a lot of time and resources for the world marketing firms.
Digital and Social Performance
Technological advancements have made the ability to collect data faster and easier than ever before. The problem that is faces world marketers is being able to interpret that relevant data. It’s a consistent struggle for them to align their findings with the traditional return on investment structure that powers the advertising and digital marketing realm. They must take this information and use it to forecast future events to determine if the price is worth the return it generates.
Marketers understand the importance of having a social media presence in today’s age. It’s very hard to run a social media platform on a global level, so this is why building and maintaining a positive relationship with local agencies is important for the world marketing firm in the long-run. Delegating the responsibilities to smaller firms with the bigger picture in mind helps these larger firms maintain a more useful platform. They can then get a more personalized approach to the customer.
Budget
For world marketers, interpreting data on a global scale can be very difficult. It’s tough to accurately determine the amount of return that a firm generates by investing in a particular area. When it is time to trim the fat on an operation, the world agencies rely on the local agencies to give them useful data to make decisions. This makes it tricky when it’s time to make cuts or invest more in the local areas. Most firms use past costs for companies to help project the future budget for the region. This helps them get a better baseline for the campaign moving forward.
Over budgeting or under budgeting on a global scale can be very dangerous for the world marketing company. Since the company is working on such a big scale, a simple miscalculation or unexpected chargers can throw off the initial budget tremendously. Accurate data and estimates are essential for creating a useful budget.
Burkhart Marketing understands the challenges faced by creating a world marketing campaign. If you are interested in learning more about these challenges, then visit our website today!
