Please note: As of October 26, 2023, the Marketing Insights add-on is no longer available to new customers. Don’t worry, our award-winning software still offers robust support for marketing teams to measure and report on performance data. Check out our pricing page or contact our sales team for more information. Following an era of “growth at all costs,” many organizations are pulling back due to the uncertain economic climate, and efficiency is now the name of the game. In an effort to improve efficiency, marketing teams are tightening their budgets and focusing on campaigns that produce maximum results. Delivering value to customers and stakeholders is more important than ever, and having real-time, end-to-end visibility into campaign performance is crucial for marketing success. To achieve this, teams must efficiently execute impactful multi-channel campaigns and measure their outcomes. Easily digestible data is essential for understanding and sharing marketing impact with stakeholders. However, limited visibility across campaigns and channels makes this challenging. Different teams often manage channels and produce separate reports, resulting in time wasted consolidating resources and findings. This is where Wrike comes in, offering unparalleled support as a comprehensive work management platform for marketing and creative teams. The need for a single source of truth The pressure is on for marketing teams to prove their strategies are driving results, despite having fewer resources to execute work. Identifying and implementing impactful campaigns across multiple channels and measuring success is a challenge if you don’t have real-time visibility across every project and campaign. And what’s hampering that visibility? Too many disconnected apps. As a result of remote and hybrid work, organizations deployed more applications to support disparate teams, and marketers now use 15 apps on average each day to complete work. Because of this surge in applications, employees and heads of departments find it increasingly difficult to understand exactly what work is underway and its progress; what has been completed; and how that work relates to, supports, or even counteracts strategic initiatives and company goals. The result is the Dark Matter of Work. Just as CERN identified Dark Matter as the “invisible” content that makes up 95% of the mass of the universe, the Dark Matter of Work represents activity and information that we can’t immediately see but that has a powerful influence on everything around it. Dark Matter exists in texts, apps, video calls, spreadsheets, and conversations, and has a gravitational mass that can easily pull business and projects in the wrong direction. Most business function leaders only have visibility into 55% of the work taking place within their departments. And only 37% of business leaders understand how their teams are performing against goals and objectives. Marketers need an integrated platform to easily access and present performance metrics and communicate impact more meaningfully. This is where Wrike excels. Try Wrike for free Introducing improved Wrike Marketing Insights: The game changer for marketing teams Wrike is the only work management solution empowering marketers to optimize cross-channel ROI and ad spend to connect end-to-end processes and bring together campaign management, asset production, and performance insights into a single platform, allowing marketing teams to move at the speed of digital. With Wrike Marketing Insights, marketers can integrate 15 popular digital tools across advertising, social media, and marketing automation and watch their data roll in, automatically giving them 360-degree visibility into full-funnel performance insights. That way, teams can easily identify high-performing initiatives while flagging those that underperform and pivot as needed within their workflow for optimization. Wrike Marketing Insights also provides instant access to project status, campaign performance, and resource investments. By opening metrics up to all and breaking down team silos, Wrike increases operational efficiencies across the entire organization and allows marketing teams to move much faster and more successfully. Here are just a few ways marketing teams can use Wrike Marketing Insights: Creative: Wrike enables creative teams to work in a connected way in one centralized location. From asset creation, review, approval to publishing and tracking. Creative teams can see the return on assets and show the impact they make. Digital: Campaigns that are integrated through various channels have many touch points and Wrike allows them to have the essential visibility and insights that they need to identify the impactful campaigns. With Wrike they can achieve full-funnel visibility into their performance and innovate as they go in an easy to use interface. Marketing Ops/Project Management: Align all marketing teams and gain visibility into how efforts translate to campaign success metrics. Wrike allows them to focus on initiatives that drive the most impact and quickly identify problem areas. Try Wrike for free Wrike’s a cut above the rest The post-pandemic challenges in marketing demand a robust and comprehensive solution that enables teams to move at the speed of digital. Wrike provides the tools and platform for optimizing ad spend, managing resources effectively, and demonstrating marketing impact on a granular level. By unifying team efforts, maintaining transparency, and promoting more efficient collaboration, Wrike is the go-to platform for driving successful marketing campaigns in today’s uncertain times.
2022 was certainly a year for the books. Marketers have faced unprecedented challenges following a global pandemic and rapid digitalization, including a switch to hybrid work and transition challenges posed by employee turnover during the Great Resignation. New market trends also necessitated a fundamental shift in the way we work, engage our buyers, and connect with customers. Turbulence ahead 2023 is shaping up to be just as challenging, but we see an opportunity for growth if planning is done both thoughtfully and creatively now. A recession is on the way, and it’s looking to be an unavoidable one. We’ve seen hints of it on the horizon as well, with the US Labor Bureau reporting a labor productivity decrease by 4.1% in the second quarter of 2022, while hours worked increased by 2.6%. Wrike’s own research also demonstrates how most marketers are still working in silos, which contributes to mounting stresses and burnout while we juggle multiple tasks, systems, and applications. As marketers, most of us know what that means — increased internal pressure on ROI and performance, decreased budgets, and changing buyer behavior. However, these incoming challenges are far from insurmountable. Marketers are a resourceful, tenacious kind — and as always, a little planning and foresight can go a long way in meeting new expectations. Here are the five most critical considerations for any marketing teams looking to tackle a challenging 2023 and establish their department as a primary driver of business in the year to come. Accelerate time to market Do more with less — sound familiar? It'll be a necessity as teams race to beat the competition in a highly competitive market that's more conscious than ever about their budgets and bottom line. A study from McKinsey & Company discovered that being late to the market by six months can potentially cut earnings by up to 33% when compared to an ideal, earlier launch. Don’t fall behind — plan in advance, and execute on time. Stay focused on ROIIt’s not always easy for marketers to demonstrate ROI, but doing so and optimizing it will put you ahead of the curve. With organizations holding teams accountable for every dollar spent, being able to maximize the utility of each cent of spending will not only help your department survive and thrive, but give your campaigns the edge against fierce competition. Execute omni-channel campaignsNew challenges and a recession doesn’t mean you should reduce your marketing footprint – consistent messaging across all available channels, specified for each audience, is still necessary. Companies with omnichannel engagement strategies retain an average 89% of customers compared to just 33% for companies without. Omnichannel strategies are also essential to eliminating silos among different marketing functions — keys to driving productivity and efficiency during a time when they're needed most. Optimize resources Newfound attention on budgets and resources makes optimization key. Time and money management will make or break many marketing departments this year. Three things to focus on to make sure you make it: - Accurately measure project resource needs through campaign resource planning - Workload optimization based on team availability, capacity, and strengths - Clear-cut, no-nonsense budgeting Keep employees happy Unengaged employees are unproductive employees — this is particularly true for marketers, who happen to be a creative bunch that need the time and space to think big. Employee burnout can contribute to churn and turnover as well, costing companies serious time, resources, and funds needed to replace them and train new employees. And a bonus tip — establishing a single source of truth is the answer to ensuring visibility and efficiency across your projects and teams. The good news is that most of us already know this. 86% of business leaders made it a top three priority to create a single source of truth for the information and activities ongoing in their business functions. Opportunity to lead It’s undeniable that 2023 will be a challenging year for many of us, but it's also a huge opportunity for marketing teams to set a precedent and take a more strategic role at the head of the organization. What will set us apart is our capability to better understand and speak to our customers, especially during a tricky situation like a recession. By nimbly responding to changes in demand and long-term shifts in consumer values and attitudes, and navigating changes within our own business, marketing teams will have an exceptional opportunity to emerge as a north star for their organizations to look up to. In part two of this blog series, I’ll discuss the marketing trends to watch out for this year. Look out for my top tips to factor into your 2023 planning!